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Fintech
Helping Fintech companies understand evolving customer needs and personas, wallet share of the app / platform, market potential, NPS by conducting on ground research
What we do
- What is the level of satisfaction / net promoter score across various parameters?
- What are the key drivers for generating loyalty to the application / platform?
- How are the consumers using the application / platform? Which are the previously unanticipated use cases?
- What are the problems consumers / customers face on the application?
- What additional features in the application / platform would make the process better for the end customer?
- What are the competitors offering as standard or additional services and how do the customers react to them?
- How likely are the customers / consumers of your application / platform to recommend it to their acquaintances?
- How developed is the merchant network in terms of geographical spread and penetration?
- What are the different segments of merchants in the market?
- How is the product / application / platform / service addressing the needs and wants of each segment?
- How robust are the service infrastructure and complaint redressal system?
- What features, additional services and terms are the competitors offering and how attractive are these offerings to the merchants?
- What additional features / services do the merchants seek?
- How likely are merchants to recommend your service / product / platform to other merchants?
- How is the customer experience while underwriting and disbursing a loan? How does it compare with the best-in-class?
- What are the friction points for customers in the current journey and how can they be eliminated?
- How can physical interventions required from the customer in the loan application journey be eliminated?
- Are there adequate checks and balances to ensure that the required information for underwriting can be collected during the customer journey?
- How do our product features stack up vis-à-vis competitors?
- How seamless is the customer experience and journeys for our products?
- How does our service architecture compare with competitors?
- What is the customer feedback and net promoter score (NPS) for our products? How does this vary across customer segments and products?
- How is the brand / product positioned in the minds of the customers?
- What are the key financial products and services required by customers?
- How differentiated are our product offerings from competitors?
- What are the key purchase criteria across different product categories?
- What are the new avenues or product segments that can be captured?
- What is the frequency of usage and use cases across product categories?
- Are there any product offerings not available to customers? If yes, why?
- What are some of the unmet needs and reasons thereof?
- What are the other digital products currently being used?
- What are the key purchase criteria and usage preferences of various customers?
- How do customers evaluate alternative options and select the product and service provider?
- What is the level of research undertaken before buying a product / service? What factors influence the customers’ decisions?
- What are the key behavioral attributes of customers?
- How open is the customer to try new experiences?
- How do these vary by key demographic parameters – age, gender, income, occupation, etc.?
- What are the key 4-5 personas which emerge, and how is the bank / FI competitively positioned in each of them?
- What are the main touch points in customer journey across different product categories?
- What are the key considerations at every touchpoint in customer journey?
- How well we are positioned in terms of the key considerations compared to peers?
- What are the pain points and area of improvement at all touch points?
- How does the future hold for the customer journey? What touch points are set to overhaul?
- What technological or other advancements are expected? How well are we positioned to embrace those changes?
- What is the level of satisfaction on different touch points during the journey?
- Which Fintech apps / services are customers associated with across product categories?
- What is the value of transactions done on these apps/ services?
- What is the market share of wallet of Fintech across product categories?
- How can Fintech apps / services capture higher share of customer’s wallet?
- How can Fintech apps / services retain current share of wallet?
- What is the level of stickiness across product categories?
- What are the triggers that would make customers shift to another Fintech player providing similar services?
- Which Fintech company / product are the customers most satisfied with and why?
- How has customer experience been across different product categories?
- What are the reasons for the preference of one Fintech product over another?
- How do customers rate the UI and service experience?
- What are the areas of improvement and ways to do so?
- What is the level of stickiness?
- What are the triggers that would make their customers shift to their peers?
- What are the key elements to provide a comprehensive user experience?
- What is the process of collecting customer feedback on proposed new product launches?
- What is the ideal methodology for testing new product concepts? What should be the sampling plan?
- How can we get insights on customer preferences on the features and overall product concept pre-launch?
- What are the ways to analyse customer preferences and methods of incorporating it?
- What should be key message and tonality while advertising the new product launch?
- What is the optimal beta launch design for a proposed product?
- What is the marketing and business goals of the beta launch, e.g. acquire new customers, up-sell / cross-sell, enter new markets, etc.?
- What is the target customer segment for the beta launch of the digital channel?
- What is the optimal design of the beta launch – sampling plan, duration of testing, etc.?
- What is the most effective way to induce trial in the beta testing period?
- What are the metrics that determine whether the beta launch was successful?
- How can we systematically capture feedback from beta users and feed into the final product features?
- What did the customers like most about the digital channel?
- What are the areas of improvement?
- How likely are customers to recommend this digital channel to others?
- How has the digital channel performance been w.r.t key performance metrics? (sales / units sold)
- How does the NPS vary across regions and products and how does it compare with key competitors?
- What are the key reasons for a customer to be a promoter / detractor?
- What are the improvement areas across product categories?
- What is the level of stickiness across product categories?
- How strong is the brand proposition in the minds of customers?
- Is the brand proposition consistent across various regions and individual categories?
- What is the position of the brand compared to its peers?
- What are the top 3 words most associated with the brand?
- How likely are customers to recommend / advocate the brand to others?
- Does the brand have a customer pull or distributer push across products / services?
- Are customers willing to pay higher fee / commission for availing its service?
- How likely is the customer to promote respective fintech company?
- How does the NPS vary across regions and how does it compare with key competitors?
- What are the key reasons for a customer to be a promoter / detractor?
- What are the improvement areas across product categories?
- What is the level of stickiness across product categories?
- What are the triggers that would make customers shift to another fintech?
- What are the relative strengths and weaknesses that have the highest impact on NPS?
- How likely is the customer to promote the respective Fintech service?
- How does the NPS vary across regions and products and how does it compare with key competitors?
- What are the key reasons for a customer to be a promoter / detractor?
- What are the areas of improvement?
- What is the level of stickiness across product categories?
- What are the triggers that would make customers shift to their peers?
- What are the relative strengths and weaknesses that have the highest impact on NPS?
- What are the existing and emerging micro-markets in fintech industry?
- What are the typical customer requirements of this micro market?
- Who are the key competitors and what are the attributes of their offerings in each micro-market?
- What is our market share (points of sales / sales capacity, number of customers)?
- How do our existing offerings compare to those of the market leader?
- What are the differentiating factors / key gaps across our product offerings in micro markets?
- What is the advertising reach across modes and customer segments?
- How does the advertising reach compare with competition? What is the customer recall?
- What is the frequency of advertising vis-à-vis competition?
- What is the click-through rate of digital advertising for various products and customer segments? How does it compare with benchmarks?
- What is the propensity to induce enquiry and trial?
- What is the ROI on advertising overall, and on specific campaigns?
- What is the impact on the overall brand?
- What are the different revenue streams per customer? What are the drivers of revenue?
- How much does it cost in time and money to service / acquire a customer?
- What fixed and variable cost components are associated with servicing a customer?
- What are the drivers of fixed and variable cost?
- What is the break-even scale and time taken to reach breakeven?
- What cost or revenue parameters are we leaders / laggards? How can we achieve industry standards or that of competitor?
- How do the key metrics of the business processes compare with its peers?
- What are the areas of process improvements based on technology adopted?
- What is the hands-on-time and wait time for each step of the process?
- In how many steps can one complete the process and how does it compare w.r.t its peers?
- Can the process be simplified and ways to do so?
- What steps of the process can be eliminated or automated?
- What are the customer experience and efficiency gains for customers?
- How does fintech player fare in the current competitive landscape in each product category?
- What are the differentiating features of the successful products / services of the competition (product offerings, ease of transaction, availability, pricing, etc.)?
- How does our current offerings fare with respect to competition and industry standards?
- Which areas or product offering are we lagging?
- Where does the fintech player win against competitors and where does it lag competitors?
- What is the potential value upside in the target market?
- How is the market landscape structured in terms of competitive environment, government regulations and legal environment?
- How has the economic trend been for the country in the past few years?
- What are the growth drivers of the economy? How will it impact the industry?
- What are the barriers to entry in the particular business, how high are these barriers?
- What are the revenue and cost drivers of companies in this industry?
- What has the trend been in terms of revenues and costs for the competitors across their product offerings?
- What has the regulatory and legal environment been in the industry?
- What are the recent changes to regulation?
Customer transaction satisfaction survey
- What is the level of satisfaction / net promoter score across various parameters?
- What are the key drivers for generating loyalty to the application / platform?
- How are the consumers using the application / platform? Which are the previously unanticipated use cases?
- What are the problems consumers / customers face on the application?
- What additional features in the application / platform would make the process better for the end customer?
- What are the competitors offering as standard or additional services and how do the customers react to them?
- How likely are the customers / consumers of your application / platform to recommend it to their acquaintances?
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Why 1Lattice?
Tech Enabled
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