We help our clients play a meaningful role in their customers lives and businesses by either saving their customers time and money or by increasing their customers’ revenues; all of this leads to more loyal customer relationships, which lead to higher profits for our clients.
We believe that Money is a commodity and FIs are facing competition from large non-financial big data players like Google, Amazon, Facebook. To compete in this era, FIs need to build stronger customer relationships based not on money (as multiple players are offering that) but on helping these customers grow their business, save on time, effort and money. It is when FIs do this, then the customer has a long-term relationship with the FI that can then be leveraged to offer the right product at the right time. This is a nascent field of work in many ways with FIs having really woken up to this style of offering only in the last 2-3 years. FIs can get really creative in this space and this can be a huge source of differentiation in the market.
Examples of our Work
- The most well-run SME lender in the country was a non-banking finance company. They approached us to help them own the SME Women’s segment as there was no clear leader in that segment. Our research explored the issues that women business owners faced, and financing was only one of them. We worked with our client in creating a comprehensive Women’s Banking program to help solve the issues that had been voiced by the women owned businesses. Entrepreneurial training, assistance with licensing, networking with peers, online marketplace to sell their products were some of the initiatives that were launched. This catapulted our client to become the clear leader for Women Banking in the country and won them numerous accolades.
- We worked with a Bank to design an Online Bulk buying club for their small business customers. We identified two segments where small businesses could be served through this online club where they would be able to procure their raw materials at an average of 15% lower cost. We designed and delivered the technology platform for the bank and allowed the bank to cater to a segment with over 20,000 small business owners.