With compliance-heavy transactional flows like onboarding, KYC verification, and banking partner migrations, Modak needed a robust engagement platform that could optimize performance across channels without compromising regulatory standards.
When we launched Modak, we had zero event-based communication infrastructure. CleverTap stood out as the best choice, with cutting-edge capabilities to create nuanced, compliance-sensitive communication that builds trust with parents and children and helps us change the financial habits of the next generation. Three years in, we rely on CleverTap not because we’re locked in, but because it keeps delivering measurable impact where it matters most.”
Many challenges kids face today stem from a lack of financial literacy, according to research from the National Financial Educators Council. US-based platform Modak was built to change this by helping families turn everyday moments into meaningful financial learning experiences. Already trusted by over 30,000 families, engaging both parents and kids became increasingly complex for the early-stage start-up as it scaled. The team needed a powerful all-in-one platform that could orchestrate timely, compliant journeys spanning sensitive financial transactions for every family member.
With compliance-heavy transactional flows like onboarding, KYC verification, and banking partner migrations, Modak needed a robust engagement platform that could optimize performance across channels without compromising regulatory standards.
Serving parents and kids, Modak wanted a platform that could deliver relevant, age-appropriate messaging to the two distinct audiences, in response to user behaviour or lifecycle stage.
Modak relies on CleverTap’s behavioural segmentation to group users based on past and live actions, with the Role of parent or kid acting as the most critical differentiator. The precise segmentation plays a crucial role, helping deliver communication that matches both the user’s lifecycle stage and their responsibility level within the account ecosystem, non-negotiable in the highly regulated financial environment.
CleverTap Journeys underpin Modak’s omnichannel communication. They drive adaptive campaigns across email, push notifications, and SMS. Tailored, timely engagement at high-stakes, compliance-critical touchpoints, such as purchase confirmation and edits to banking information, has driven a 40% increase in onboarding completion. By continuously fine-tuning the Journeys based on live dashboards, Modak has achieved a 37% higher CTR, a 25% increase in task completion and user conversion within 48 hours of notification, and a 60% reduction in redundant outreach.
To identify effective messaging for its dual audience, Modak uses CleverTap’s A/B testing. It experiments with value propositions and copy styles to determine what drives engagement for each audience, a tricky task, especially for children. The data-led approach has boosted the push CTR by 2-3x. Liquid Tags further enhance customization by personalizing the communication and inserting relevant referral codes and links, making every message feel unique and functional for the user while increasing stickiness.
Modak leverages CleverTap’s comprehensive analytics suite to track view rates, click-through rates, conversion splits, and goal completions. Funnel analytics visualize the onboarding journey, revealing where users drop off. The team discovered the steepest declines occurred within 24 to 36 hours after KYC submission. By redesigning reminder cadences to trigger after 48 hours of inactivity and introducing contextual in-app explanations, Modak saw a 15% improvement in verification completion, 19% quarter-over-quarter reduction in post-KYC drop-offs, and 42% faster time-to-first-transaction.
CleverTap’s orchestration capabilities transformed our communication plan into a rich, behaviour-driven user experience, ensuring every family received the right message at the exact moment. By combining real-time analytics with data-driven journey design, we can act precisely when users are most likely to stall, accelerating the time-to-value for new families joining Modak. This is helping us deepen parent and child engagement across touchpoints, as we continue to grow.”
Through CleverTap, Modak built a scalable communication infrastructure that grows with its mission. Now, as the company reimagines its onboarding and lifecycle strategies, CleverTap will remain central to the effort. With flexible orchestration, deep analytics, and rapid experimentation, the team will continue refining how and when families are engaged, so every interaction builds long-term financial confidence for the next generation.
