How Trade Republic controlled peak activity thanks to Sqwad

17/9/2024

Customer stories

A European leader in commission-free mobile brokerage, Trade Republic collaborated with Sqwad to meet the challenges associated with its hypergrowth, including managing peak activity and optimizing its customer service.

Background: hypergrowth to be controlled

Founded in 2015 in Berlin, Trade Republic has become one of the most dynamic mobile brokers in Europe, offering a simple and commission-free platform for investing in stocks, ETFs, and cryptocurrencies. Its rapid growth has been fuelled by massive adoption by retail investors, especially in France, where demand has exploded.

However, this rapid expansion has led to major operational challenges. As Thomas, Commercial Director at Trade Republic, explains: “We have a solid customer base, but demand continues to grow. We need to be ready to respond effectively.”

The seasonality of financial markets, with peaks in activity during periods of high volatility or the launch of new products, has also tested the company's internal capacities.

Sqwad

Trade Republic challenges

Managing peak activity : Periods of high demand require greater responsiveness and flexibility to maintain the quality of service.
Optimizing customer service : Offer quality customer support while effectively managing high volumes of requests.
Maintaining performance : Ensure optimal performance of the platform and associated services, even during periods of high activity.

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The solution: a strategic partnership with Sqwad

To meet these challenges, Trade Republic chose to collaborate with Sqwad, a specialist in outsourced customer relationships. Antoine, marketing director at Trade Republic France, underlines the importance of this partnership: “We needed a partner that could strengthen our teams in an agile and effective way. Sqwad met this requirement.”

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The collaboration process was structured into several key steps:

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- Identification of needs : Precisely define the areas requiring reinforcement, in particular customer support and the management of peak activity.

- Selection of agents : Choose agents with specific financial and customer service skills who can quickly understand Trade Republic's products and services.

- Intensive training : Set up a 5-day training program, followed by a period of skills development to ensure rapid and effective integration.‍

- Integration of tools : Use Trade Republic's CRM tools in combination with Sqwad's solutions to ensure smooth management of customer interactions.

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Concrete results

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The partnership with Sqwad allowed Trade Republic to achieve several goals:

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- Reduced response times : Thanks to a dedicated and well-trained team, the processing times for customer requests have been significantly reduced.

- Improvement of customer satisfaction : Users expressed greater satisfaction, especially due to the responsiveness and quality of support.

- Optimization of costs : The outsourcing of certain functions has allowed savings to be made while maintaining a high quality service.

- Effective management of peak activity : Sqwad's flexibility made it possible to quickly adjust resources according to needs, thus ensuring constant performance.

This collaboration highlights several key lessons for hypergrowing businesses:

The importance of flexibility : Being able to quickly adapt resources to changing needs is essential to maintain the quality of service.
The value of strategic outsourcing : Collaborating with specialized partners allows you to focus on your core business while ensuring quality customer service.
The integration of tools : Using efficient and adapted tools facilitates the management of customer interactions and improves operational efficiency.

To find out more

To find out more about how Trade Republic collaborated with Sqwad, watch the full video above

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