How Kredivo optimized loan approvals using TikTok Smart+ solutions

The objective

Achieving more cost-efficient loan approvals

Kredivo is a leading digital credit platform in Indonesia enabling customers to “buy now, pay later” with competitive interest rates. Based on real-time decisions, the app provides instant credit financing for both e-commerce and offline purchases. It also offers personal loans in partnership with KrediFazz. Both companies are under the Kredivo Group and seek to position themselves as the go-to digital financial services provider for consumers in Southeast Asia.

To encourage potential borrowers to install the Kredivo app, the platform leveraged TikTok’s massive mobile-first audience and precise targeting capabilities. In a bid to acquire loan approvals at a reasonable cost, Kredivo ran custom ad campaigns that utilized the App Promotion objective.

Kredivo saw the potential of TikTok’s AI-driven Smart+ solutions to boost their app promotion efforts. They wanted to determine how automation could outperform their previous manual ad campaigns and help them maximize their ad spend.

The solution

Optimizing ad creation and spend with a Smart+ App Promotion strategy

TikTok offers AI-powered ad solutions with its Smart+ campaigns. Brands can use these for various performance objectives such as lead generation, web conversions, and in Kredivo’s case, app promotion.

Kredivo’s manual campaigns in September and October 2024 gave the brand a baseline to compare an AI-enhanced strategy with. The creative assets for these earlier campaigns were videos with a general “buy now, pay later” slant. One ad showcased different home appliances users could buy with installment payments. Some videos highlighted how Kredivo offers instant loans for emergencies.

When Kredivo ran a Smart+ App campaign in November 2024, they utilized TikTok One, a creative platform designed to boost the effectiveness of TikTok campaigns. TikTok One connected Kredivo with creators whose videos they could turn into ads. It also allowed the brand to unlock deeper data analytics and creative insights.

Tapping this TikTok solution led to a new set of creative assets for Kredivo’s Smart+ campaign. This time, most of the ads focused on installment payments for electronics and gadgets, such as a new smartphone.

Kredivo’s Smart+ App Promotion campaign used broad targeting in order to reach larger audiences. They paired this with a Cost Cap bidding strategy.

The results

Increasing conversions and app downloads while lowering costs

After Smart+ testing against manual campaigns with similar budget, Kredivo saw the clear advantage of TikTok’s AI-powered ad solutions. Combining its Smart+ App campaign with TikTok One creatives proved effective. Kredivo recorded improved metrics while maintaining loan approval numbers comparable to those from their custom ad campaigns.

The brand achieved an impressive 62% uplift in conversion rate from clicks. Click-through rate also increased by 5%. Meanwhile, cost per unique loan approval dropped 13% compared to manual App Promotion campaigns.

Kredivo’s success with a Smart+ App Promotion strategy demonstrates how Smart+ campaigns empower brands to optimize costs, improve conversions, and drive app growth.