Cringle | Updates

By Malte Klussmann

Cringle – A/B Tests to Success


Dear Companists,

Fitting to Tuesday's update, we would like to provide you with an update in regard to our product's important KPIs. We are referring to our registration process and how we can achieve a 50 % increase in our conversion rates by performing intensive preparations and multiple A/B tests.



It is Cringle's goal to revolutionize mobile payment between friends. The act of transferring money should be as simple as sending a text message. Most finance apps require the user to complete a complex and complicated registration process. The user has to provide an abundance of information, often including name, address, phone number, email address, password, PIN number, and last but not least bank details and verification. In this case, the critical issue is the complex process of providing bank details. In order to overcome this problem, we have been dealing closely with this process and have tested several alternatives in an A/B test.


Cringle - complicated vs. simple


A/B Tests

Our registration process only requires the user to provide their relevant details. We have tested two alternatives on the step that requires users to provide their bank details. In alternative A, users did not have to provide an account until they intended to carry out their first transaction. In alternative B, users were required to fill in their bank details during the registration process.

During the A/B tests, we proceeded as follows:

  1. Analysis of the registration process
  2. Formulation of hypotheses & A/B testing concept
    a.  Provision of bank details prior to first transaction
    b.  Provision of bank details during registration
  3. UI & implementation of test alternatives
  4. Test execution
  5. Results evaluation
  6. Permanent implementation of the best alternative

We tested the acceptance of our new direct registration "Cringle Connect" in a second A/B test. This method enables the user to add their bank account directly by logging onto their online banking system and verifying it in the same step. The other alternative requires the user to manually type in their IBAN and the account holder. In this case, the verification is completed by means of a 1-cent-transaction. 1-2 days later, the user is requested to type in a 6-digit verification code from the intended purpose of the transaction into the app in order to activate the account.


Entering IBAN vs. Cringle Connect


Numbers, Results, Decisions

Following a test period lasting several weeks, we were extremely surprised by the results. The acceptance of registering with Cringle Connect was much higher than initially expected. Over 70 % of users used this approach for adding their bank account. These users also proved more likely to carry out a transaction. Our second biggest surprise was the fact that many users were willing to provide their complete bank details during the registration process.

We finally came to the decision that we would offer both alternatives. Users are now requested to sign into their online banking systems during the registration process. The alternative allowing you to manually type in your details will also be an option. It is now possible to register in under 60 seconds.


Cringle Registration process


50 % more registrations!

After completing our test phase, we have achieved a 50 % increase in new registrations. During the same period of time, during which 38 % of installations previously resulted in verified users, this figure has now increased to 57 %.

We have also come to realize that our gut instincts are often wrong. A/B tests are now standard practice for the Cringle product team. This approach has helped us in making a lot of decisions. The invested time and resources are worth it in the end.

Have a great weekend!

Best regards,




Investments in startups and growth companies offer great opportunities, but they are risk investments. In the worst case, the entire investment amount may be lost. Consequently, investments in startups or growth companies are unsuitable for retirement plans. However, there is no obligation to make further contributions. Investors can minimize their risk by diversifying the amount they invest in startups and growth companies and not investing the entire amount in one startup or growth company. Professional investors often follow this strategy because it causes the risk to be distributed among several investments. In this way, successful investments can balance other less successful investments.

The shares of the investors on Companisto are subordinated profit-participating loans (partiarische Nachrangdarlehen). Such loans are shares in a business with similar characteristics as equity. If the company becomes insolvent or is liquidated, the claims of the investors (Companists) – just like those of all other shareholders of the company – will be satisfied from the assets in the insolvency or the assets in liquidation only after the claims of all other external creditors have been satisfied. Thus, Companists are treated like any other shareholder of the company during insolvency or liquidation proceedings.

The company information published on the Companisto website is provided solely by the companies. The projections made by the companies do not guarantee successful development of the company in the future. Consequently, investments in startups and growth companies are suitable only for those investors who can cope with the risk of a total loss of the capital invested. Investors make their own independent investment decisions and bear all risks themselves.

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