How a P2P Platform Unlocked ROI Visibility in 90 Days

The Challenge

Our client, a Swiss-regulated P2P investment platform serving both SMB financing and Web3-focused lending, was scaling their marketing spend but couldn’t measure its true effectiveness. Data was scattered across multiple ad platforms (Google Ads, Meta Ads), their internal CRM, and manual spreadsheets. This fragmentation made it impossible to answer the critical questions: which channels drive real deposits (not just registrations), what’s the true ROAS by channel and geography, and where should the next marketing dollar go?

The regulatory context added an additional layer of complexity: as a Swiss-regulated financial platform, their user journey included mandatory KYC (Know Your Customer) verification between registration and first deposit. This meant that standard marketing attribution models — which typically track to registration — missed the crucial conversion steps that determined actual business value.

The regulatory nature of the platform created an additional analytical challenge: user quality couldn’t be measured at registration. A significant portion of users who registered never completed KYC, and among those who did, many never made a first deposit. Traditional marketing analytics that optimized for registrations would have been actively misleading — sending more budget to channels that attracted users who would never become depositors. The marketing team needed an attribution model that accounted for the full regulated funnel, not just the top. Additionally, the platform operated across multiple European markets with different KYC requirements and conversion dynamics, requiring geographic segmentation in all analyses.

Our Approach

We built a marketing analytics system specifically designed for a regulated fintech user journey:

• Full-Funnel Data Integration: We connected spend data from Google Ads, Meta Ads, and other paid sources with CRM events that tracked the complete user journey: registration, KYC submission, KYC approval, first deposit, and subsequent investment activity. This full-funnel view was essential for understanding true channel value.
• Attribution with KYC Adjustment: We built attribution models that accounted for the KYC step — a unique requirement for fintech. A channel that drives many registrations but whose users fail KYC at high rates has a very different value than one with fewer registrations but high KYC completion. Our models captured this nuance.
• Geographic Performance Analysis: We implemented geographic breakdowns at the country and region level, revealing significant differences in acquisition costs, conversion rates, and user quality across markets. This informed market-specific budget allocation strategies.
• Campaign & Creative Analysis: We built drill-down capabilities from channel-level ROAS to individual campaign and creative performance, enabling the marketing team to identify winning creative approaches and scale them.

We also built a user quality scoring model based on post-KYC behavior that helped the marketing team understand not just which channels acquired depositors, but which channels acquired the highest-value depositors — users who invested consistently and referred others. This LTV-aware attribution enabled the team to accept higher CPAs from channels that delivered better long-term users. We implemented automated weekly reports comparing channel performance to target KPIs, with trend indicators showing whether performance was improving or degrading over time. These reports became the centerpiece of the weekly marketing review meeting, replacing the previous approach of reviewing platform-reported metrics that didn’t account for the KYC funnel.

Results

• Accurate single source of truth for paid marketing efficiency — connecting spend to actual deposits, not just registrations.
• Full-funnel attribution accounting for the KYC conversion step unique to regulated financial platforms.
• Geographic ROI visibility enabling market-specific budget allocation and scaling decisions.
• Leadership and marketing teams able to identify growth drivers and optimize spend daily.
• Campaign-level drill-down enabling rapid identification and scaling of winning creatives.
• 90-day implementation timeline from kickoff to production dashboards.

Technologies Used

Python, Google Ads API, Meta Ads API, CRM integration, data warehouse, BI dashboards, automated ETL pipelines.

Project Screenshots