Fintech

Helping fintech companies understand evolving customer needs, personas, wallet share, market potential, and NPS through on-ground research and actionable insights.

Capabilities

What we do

21 capabilities

Capability

Customer transaction satisfaction survey

Questions we answer

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?

Capability

Merchant research

Questions we answer

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?

Capability

Mapping lending processes

Questions we answer

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?

Capability

Product benchmarking

Questions we answer

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?

Capability

Customer needs assessment

Questions we answer

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?

Capability

Customer persona identification

Questions we answer

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?

Capability

Customer journey mapping

Questions we answer

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?

Capability

Customer share of wallet study

Questions we answer

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?

Capability

Voice of customer

Questions we answer

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?

Capability

Concept testing

Questions we answer

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?

Capability

Pre-beta testing of digital channel

Questions we answer

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?

Capability

Digital channel NPS diagnostic

Questions we answer

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?

Capability

Brand NPS diagnostic

Questions we answer

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?

Capability

Offering NPS diagnostics

Questions we answer

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?

Capability

Customer NPS diagnostic

Questions we answer

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?

Capability

Micro-market mapping & opportunity analysis

Questions we answer

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?

Capability

Ad effectiveness monitoring

Questions we answer

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?

Capability

Unit economics benchmarking

Questions we answer

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?

Capability

Process benchmarking

Questions we answer

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?

Capability

Competitive benchmarking

Questions we answer

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?

Capability

Quick view industry trend

Questions we answer

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?

Related Case Studies

View all

FintechApr 7, 2021

Deep dive on Indian Fintech Broking industry

Objective

An established FinTech Broking player wanted to understand their standing in their subcategory/ vertical within the FinTech space. Further, the client wanted to understand strategy and tactics being used by the nearest competitors to garner market share, with special focus on the Industry leader and the incumbents.

Methodology

Conducted an in-depth study on the different attributes of the FinTech brokers with a focus on identifying key backers, their performance and take a view on their expected growth
Identifying 3 business models to categorise the tech-enabled Stockbroker industry
Benchmarked product offerings for Brokers across the three verticals with special focus on the client’s FinTech broker category
Conducted in-depth interviews (N = 25) with customers and industry professionals to understand key pain points and growth areas
Identified areas of differentiation in terms of the business models of the different verticals, with a deep dive on models of new-age Fintech brokers
Identified key drivers of revenue growth and pain points in financial models of the Fintech brokers
Conducted deep dive on the digital adoption in India and the level of digitization of the non Fintech broking players to identify level of incumbent risk

Impact / Outcome

The client developed a thorough understanding of the Fintech space and was able to gather valuable insights regarding the specificities of the Fintech broking space.

FintechApr 7, 2021

Identify various user archetypes of a cash management platform

Objective

A large fintech start up (cash management app) wanted to identify various customer segments, understand business processes, payment preferences and needs of each customer segments

Methodology

Conducted in-depth conversations (N = 184) with enterprise owners of various MSME segments to understand business processes in 15 cities (metros, tier 1, 2, and below)
Conducted a MSME owner survey (N = 1,000) to understand the current pain points / challenges faced by them while using cash management app
Assessed business processes, business types, turnover of various merchants and deduced it to various user archetypes, using cash management platform for their daily ledger cum lending operations
Mapped daily business journey of each user archetype and identified their usage of various digital payments and other fintech platforms
Identified various opportunities for expansion (B2B payments, commerce, others) amongst MSMEs by various customer segments, prioritize opportunities

Impact / Outcome

Identified 7 user archetypes, using client app and created a shortlist of pain points while using the cash management app
Client launched different product offering / features catering the need of the current users and rolled the new offering to improve user experience

Showing 1–2 of 6 case studies · Page 1 of 3

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