Case Study: Akulaku

About Akulaku

Shenzhen Jiejiao Electronics Co., Ltd. (AKULAKU) is the largest provider of virtual credit cards in Southeast Asia. Their product allows users to make installment based purchases. They are committed to providing virtual financing services for the majority of Southeast Asia where traditional bank credit cards are harder to come by. Within the first three months of launching in South East Asia, Akulaku saw a transaction volume of 10 million RMB. In the year of 2017, Akulaku received over 10 million transactions exceeding a total amount of $500 million; a monthly increase of 800%. By the end of 2017, the number of registered App users exceeded 10 million and the accumulated amount of credit given was around $800 million. Akulaku has more than 2,000 employees with offices in Shenzhen, Beijing, Indonesia, the Philippines and Vietnam.

The Challenge

Lack of proper app analytics to keep up with real time behavior

Southeast Asia is seen as a lucrative market for fintech solutions. Consumers in this region are more inclined to spend their money rather than to save. This trend created a great demand for loans. However, financial institutes in this region have been slow to adapt to the booming mobile trend with consumers still making payments with cash and withdrawing money from ATMs or local branches.

Seeing an opportunity in the market, Akulaku launched it's virtual credit card to help keep up with the evolution of mobile spending habits. Their solution eases the process for local consumers to get access to fast and easy credit without having to go through complex credit applications and lengthy approval processes. Users are first granted an amount of credit based on their risk level, which they can then use to make payment installments on different e-commerce sites. After Akulaku established a solid customer base, their second product was launched; an e-commerce site where users could shop with payment installments.

By creating such a complex business model and platform, Akulaku's third party tools were not sufficient in meeting their requirements. Akulaku faced the challenge of keeping up with transactions in real time.

Before using Adjust

1. Duplicated install and event data; paying twice for the same user
2. Problems with accessing raw data; unable to receive raw data callbacks in real time
3. Too much time spent analyzing data for suspicious and fraudulent behavior

After using Adjust

1. Automatic user data deduplication, no redundant payments
2. Real-time raw data access for in depth data analysis
3. Adjust's Fraud Prevention Suite to protect marketing budgets and keep data clean

Adjust is an important tool for us to optimize our campaigns and marketing performance. Their clean and complete display of data on the dashboard helps us analyze our data and provides more transparency into our KPIs.

With Adjust's unlimited event tracking, we were able to track events that were key to our conversion scenarios. We created two unique conversion paths for each line of business; finance and e-commerce. With our e-commerce app, we track the following events; browse products → add to cart → purchase; for financing, the conversion path is as follows: apply for virtual credit card → credit limit approval → confirm order. With these two conversion paths, we are able to analyze key activities of our user conversion. Akulaku relies on these metrics to execute its most important marketing decisions.

Tina Li

Marketing Manager, Akulaku

The Solution

Having an attribution partner for clean, reliable data




The Results


Akulaku's main goal was to create a closed loop of the fintech ecosystem in South East Asia and to be the first mobile financing platform. By integrating Adjust's solution, they were able to achieve a 50% higher ROI and 40% lower CPI, and a 50% lower cost-per-new-credit.

*Data source: November 2018 vs. July 2019