How ZayZoon saves millions with Fin

ZayZoon is a financial technology company based in Calgary, with a goal of helping 10 million people save $10 billion.

A lot of times, people might be in a situation where access to funds is really critical and very time-sensitive. They could be at a gas station and need access to their hard-earned funds. So having something like Fin, which allows us to actually resolve and help those people instantly, has been tremendous.

We’re tackling in the realm of 35,000 to 50,000 conversations per month. That was never going to be feasible by just scaling with people.

The question became: how can we leverage technology, and Fin in particular, to allow us to get to people in a timely manner, but also at scale as we grow with the business?

We used to have individuals manually reviewing documents to make sure timesheets were within the applicable date range, that it was the right employer or the right employee, and that it had all the information we require.

Now we can use Fin to review those documents for us and actually handle the approval, basically unlocking access to funds for individuals through data connectors and API requests.

Fin is constantly providing recommendations on how it can be better and what it could do differently – updating knowledge base articles and identifying gaps in your knowledge. Again, that’s another piece that gives me that confidence.

From a cost savings perspective, we’re in the millions of dollars in savings from leveraging Fin – just from employee salaries and benefits. We haven’t needed to scale in terms of people the way we projected because Fin has taken on such a large and substantial piece of our workload.

We’re outperforming our wildest dreams. We had goals earlier this year to reach a 65% self-service rate. We’ve already hit 80%, and we’ve still got a quarter to go.

We’ve been involved in different beta releases where we’ve said, “Hey, we could really leverage this feature or this type of feature.” And the response has been, “Oh, we have a beta release for that, we’ll get you involved.”

Having that kind of collaborative relationship has really allowed us to accelerate our roadmap, and we’ve seen tremendous growth.

How can we get more of that?