In a highly competitive fintech landscape, user acquisition alone isn’t enough quality, compliance, and unit economics decide whether a campaign can scale. Addominion partnered with Moneyview, a leading personal loan app in India, to run a 90-day affiliate-led acquisition test focused on delivering verified loan applicants and funded loans at profitable CPAs.
This case study breaks down how a structured affiliate mix, rigorous tracking, and fraud controls helped deliver strong results and unlocked a clear path to scale.
Campaign Overview
- Client: Moneyview
- Objective: Acquire high-intent app users who convert into verified and funded personal loan applicants
- Channel: Affiliate-driven mobile app acquisition
- Duration: 90 days
- Primary Market: India (Tier-1 & Tier-2 cities)
- Platform Focus: Android (primary), iOS (secondary)
Business Objectives & KPIs
The campaign was designed around post-install performance, not just installs.
Primary Objectives
Addominion prioritised driving high-quality users who were likely to complete their loan applications, while maintaining profitable CPA and ROAS benchmarks for the client. Equal emphasis was placed on minimising fraud and improving approval rates, ensuring that growth was both scalable and sustainable.
Key KPIs
Success was measured using downstream performance indicators instead of surface-level metrics. Key outcomes included completed applications after KYC, approved and funded loans, and the cost per completed application, which was targeted below ₹500. Approval rates were tracked against an industry benchmark of 18–25%, while fraud levels were closely monitored to remain under the 5% threshold.
Target Audience & Geo Strategy
Audience Profile
- Salaried professionals, aged 22–45
- Monthly income: ₹15,000+
- Digitally active users with frequent app-based transactions
Geo Focus
- Major metros and Tier-1 cities
- Select Tier-2 cities with strong credit demand
Traffic from lower-quality Tier-3 regions was deliberately limited to protect approval rates and LTV.
Affiliate Channel Mix & Rationale
A diversified affiliate strategy ensured both scale and quality.
- CPA Affiliate Networks (40%)
Delivered volume through controlled incentivized and non-incentivized funnels, paired with strict postback verification. - Content & Lead-Gen Affiliates (25%)
Finance blogs, comparison sites, and YouTube explainers driving informed, high-intent users. - Influencer & Social Traffic (20%)
Micro-influencers with finance-focused audiences delivered fewer installs but significantly higher approval rates. - Programmatic & RTB (10%)
Used conservatively for prospecting on finance-related placements. - Email & SMS Partners (5%)
Focused on re-engagement and soft-lead remarketing.
All partners operated under a whitelist-only model, with ongoing performance audits.
Tracking, Attribution & Payout Structure
Tracking Stack
- AppsFlyer MMP integration
- Events tracked: install, complete_application, kyc_completed, loan_approved, loan_disbursed
Attribution Windows
- 7-day click attribution
- 24-hour view attribution
- Custom lookback for assisted conversions
Payout Logic
- Partial payout on KYC completion
- Final CPA payout only after loan disbursement
- 7–14 day holdback window to manage reversals and fraud
This structure aligned partner incentives with actual business outcomes.
Creative & Funnel Optimization
Winning Creative Themes
- Benefit-led messaging (fast approval, instant money)
- Social proof (real stories, app ratings)
- Step-by-step explainers (“Apply in 3 simple steps”)
Top Performer
Short-form video creatives (15–30 seconds) demonstrating a real approval flow outperformed static formats by 38%.
Funnel Design
- Deep-linked installs
- Pre-filled data where possible
- KYC initiation immediately after app open
- Clear messaging on speed, security, and transparent fees
Fraud & Quality Controls
Because this was a financial product, maintaining traffic quality was a top priority. To ensure this, Addominion worked with a carefully vetted list of publishers and continuously monitored traffic using a combination of in-app safeguards and attribution platform checks. High-volume partners were reviewed manually, and any sources showing irregular behaviour were quickly removed. These measures helped keep the campaign clean and compliant, with the fraud rate maintained at 4.2%, well below the 5% benchmark.
Campaign Results (90-Day Test Phase)
Here’s a snapshot of the campaign’s performance:
| Metric | Result |
|---|---|
| Total Spend | ₹20,00,000 |
| App Installs | 100,000+ |
| Completed Applications (KYC) | 8,256 |
| Approved & Funded Loans | 1,692 |
| Approval Rate | 20.5% |
| CPA per Funded Loan | ₹1,200 |
| Estimated First-Month LTV per Loan | ₹25,000 |
| Fraud Rate | 4.2% |
The numbers confirmed strong unit economics, with funded-loan CPA comfortably supported by downstream revenue.
Key Learnings & Recommendations
- Quality beats volume: Finance-focused affiliates delivered 2.8x higher KYC completion than generic incentive traffic.
- Influencer traffic converts better: Micro-influencers showed nearly 3x higher approval rates despite lower volume.
- Creative realism wins: Showing an actual approval journey outperformed polished banner ads.
- Geo optimization matters: Tier-1 cities consistently delivered higher approval rates and LTV future budgets should lean heavier here.
Conclusion
This 90-day test proved that affiliate marketing can drive not just installs, but profitable fintech outcomes when paired with disciplined tracking, fraud controls, and performance-led optimization.
For Moneyview, the campaign validated a scalable acquisition channel with strong unit economics. For Addominion, it reinforced the power of outcome-driven affiliate strategies in high-stakes verticals like lending.
