From zero to 100,000 cards in two years – Rocker grew into a market leading neobank with support from Enfuce Card as a Service
June 16, 2022 7 minutes read
Rocker set out to become the number-one neobank in Europe with a fully digitalised consumer bank offering. In January 2020, they launched a payment card to accompany their consumer lending business. Since then, their offering has expanded into full digital finance management services, including a biometric card Rocker Touch. In an increasingly demanding market, Rocker can offer a range of easy-to-use payment options to choose from and thus boost customer experience and loyalty.
When Rocker launched their Visa payment card powered by Enfuce Card as a Service in Sweden in 2020, the initial number of cards first issued was 35,000. In just two years, the number of users has climbed to over 100,000.
Rocker’s payment services are tailored into different service levels for consumers with different needs, supported by Enfuce’s wide feature portfolio. The instantly issued virtual card and the app are free for all. The Plus and Premium programmes offer additional features and benefits for those consumers who appreciate more comprehensive payment options.
In fact, this ability to package their offering into simple, relevant, and affordable payment products for the modern consumer has been key to Rocker winning market share in the very demanding segment.
“Rocker’s vision is to build the market’s best platform for everyday financial services. Rocker is one of the fastest growing neobanks in Sweden. A lot is happening at Rocker right now. We are in an incredible period of growth and aimed for a growth in number of card transactions of 170 percent. Now we are raising our ambition and are aiming for almost 1,000 percent growth within the next year,” says Jonas Hultin, CEO at Rocker.
With close cooperation, Rocker can push out new value-adding features fast
As the number of users is an important metric in the partnership, Enfuce works closely together with Rocker’s VP of Product, Andreas Norberg, to continuously develop Rocker’s product and messaging to engage users.
Over the two year period since the launch, numerous features have been added to Rocker’s card to make payments even easier and to provide more options to consumers. These features include all major digital wallets (Apple Pay, Google Pay, Samsung Pay), splitting bills, set PIN, view card details, and 3DS, for instance.
“Rocker is very active in putting out new features that make life easier for their users and attract new ones. We have weekly meetings where we plan for upcoming features and discuss how to best bring value to Rocker’s customers and how to communicate that value in their marketing,” says Michael Fabricius, Customer Success Manager at Enfuce.
The card is also fully configured to scale beyond the Swedish market, as is the plan for Rocker.
With Enfuce’s turnkey card issuing solution, we have been able to further strengthen our value proposition for the increasingly demanding market by introducing new functionality fast. Equipped with a flexible card offering that includes real-time fraud monitoring for maximum security and PSD2 API compliance, we are prepared for continued expansion into new markets.Andreas Norberg, VP of Product at Rocker
Shared learnings about consumer behaviour help perfect the product
Enfuce and Rocker were both founded in 2016. Having taken their first steps in the Nordic fintech scene at the same time, they share a mindset of learning and growing together. This was one of the reasons Rocker chose Enfuce as their card issuing and payments processing partner.
“We at Enfuce can offer our card payment experience and learnings from the field to Rocker’s use, and Rocker pushes and challenges us to think about consumer behaviour and needs. It is a fruitful cooperation for both, where we constantly push boundaries to enable seamless and user friendly payment services. A great example of this is the biometric card that Rocker recently launched and that we are proud to have enabled together,” says Monika Liikamaa, Co-CEO and Co-Founder at Enfuce.
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Rocker was the first in Sweden to launch a biometric card
Rocker’s Premium card programme includes a revolutionary biometric card, Rocker Touch. The user never has to enter a PIN code. They just keep their finger on the card while using the payment terminal.
Rocker was the first one in Sweden to take biometric payment cards into use – and the demand has been overwhelming. Just a couple of months after the launch in February 2022, thousands of Rocker customers have already requested the biometric card.
The launch of the biometric card was a big joint project of various players that had a very successful outcome. The card enables Rocker to offer an even better customer experience and to solidify its pioneer position in the payments and neobank sector.Michael Fabricius, Customer Success Manager at Enfuce