Regily: thinking outside the box

Category: Blockchain Executive Interview

Founded over 4 years ago, the company worked from a simple premise: how to change the way people connect with great brands online. And according to the CEO and Co-Founder of Regily Kristoffer Cassel, the idea took seed from a single bad experience

The idea took off one winter when Kristoffer found himself in an airport with 2 hours to kill before his flight. Someone approached him looking to promote a credit card. He liked the product and thought it was a good brand. Unfortunately for the credit card company, he never actually got the card, because somewhere in between his initial interest and catching his flight he walked away.

He thought about his experience the whole flight. Why couldn’t he connect with the brand? The answer was that the tedious process of signing up had become the third wheel in their relationship.

“We have a situation where people find a good product that they like, and say yes, I want to become a customer – they click to sign up but still a majority of people drop off at that point because it’s not a nice process.”

The main issue was that this process hadn’t changed much over the last 20 years. White boxes, grey boxes. It didn’t really matter, sign up forms were outdated in their approach and consumers were avoiding them like the plague. And when companies tried asking for less information they still lost out because now they didn’t know who their customers were. ‘The best brands and the best products, he says, want to know more about their consumers, not less.’

Making it personal

Regily stands out from the crowd by looking at how users can connect with a great service or product as painlessly as possible. The company has created a framework that allows them to optimize and personalize the way people sign up for a brand. They work with enterprise clients, in gaming where there’s huge relevance, in blockchain and fintech, and with subscription services.

“We have both the UX – what you see and what you feel, and personalization to optimize based on what country you’re in and device you’re using. We also use the best third-party solutions – we are promising our partners that when they use our technology, our framework, they will always have the best sign up experience in every market they are targeting.”

New kids on the block

So what trends are driving change? Are new generations demanding a rethink in the way we approach this? Kristoffer agrees that there is certainly a change in the way we consume and access content. (Hands up if you’ve never said you’ll just do something tomorrow.)

This is an issue that spans all industries. “If you look at the amount of time people spend per page online, it’s somewhere around 8 seconds – their attention span has been dropping for the last 10 years and it keeps falling. If you continue to put this type of old, grey signup sheet in front of a person that is in that mindset, it just doesn’t convert.

“At first glance, it might seem that it’s about making an easier process, but in reality, it’s not really difficult to sign up. The problem is that it’s boring. Especially when you are in that frame of mind.”

Kristoffer goes on to say, “The other obvious trend is that they’re on mobile devices which also changes behaviour. You want to reduce how much people are typing, so we are using a lot of services that are prefilled.”

Helping operators keep afloat in these tough times

This pandemic has undoubtedly forced companies to narrow their focus and rethink the way they operate. Kristoffer believes that partnering up with companies like Regily and other world-leading specialists can help them to free up resources and hone their focus – especially in light of the new regulations that are coming into the gambling space.

“I think the key thing is that all companies, especially in these tough times – and different industries have been affected in different ways of course – really appreciate the value of improving to their core business. Their developers are really trying to focus on creating new types of revenue, and because they’re working with us and our framework, our proven solutions have enabled them to free up a lot of resources from their side. It’s a huge time saver and that is something which is difficult to do within a short space in time during Covid.”

Embracing technology to stay compliant and relevant

The big question is: how can you be compliant and still increase conversion – or at least have a good conversion. Kristoffer is sure that the way forward is by having enough experience in the market to create a product that ticks the right boxes for customers, providing operators with access to solutions that they don’t need to build themselves, and that is also compliant with KYC and other regulations. Compliance adds a layer of complexity, especially when it comes to the gaming sector. As he goes on to say, ‘we can take away that complexity.’

“Running any business online, running it towards one single market you can usually create a decent signup experience if you have local knowledge. The complexity comes from covering several markets at one time. It’s not just about the regulation, it’s also about the customer. We need to do it based on technology, based on data – and that’s the foundation of what we do. Regily’s technology tells you what is the most optimal way in each market to do things.”

Ten years ago, he says, it was all about A/B-testing. But what they believe at Regily is that products need to be tailored to individual users. “It’s not about deciding between a or b – it’s about matching the right version to the consumer. To do that at scale, even small scale, you need a really solid data infrastructure and solid technology to produce that experience for the customer on the fly. AI is the best route to handling the complexity of this task to create the best possible experience.”

What’s in store for 2021

Rounding things off, Kristoffer predicts the top 3 trends set to dominate 2021. The first is a rise in specialized open banking solutions, followed by a focus on Omni Channel solutions outside of Europe, and lastly the death of landing pages.

“One of the trends which we’re seeing when we speak to American and Asian operators is that a lot of land-based and online businesses, especially land-based businesses looking to go online, have a need for omnichannel solutions. We’re also noticing the merging of signup optimization and acquisition optimization. We have a technology called Regily Remote – where our operators can expose their signup at the point of the affiliate site. Finally, we believe strongly that within the next year landing pages will disappear – there’s really no need for them if you come straight from an affiliate site.“

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