Werde aktiv in unserer Community aus über 451.000 Gleichgesinnten!

Verabrede dich zum Casen über das Meeting-Board, nimm an Diskussionen in unserem Consulting Q&A teil und finde gleichgesinnte Case-Partner, um dich auszutauschen und gemeinsam zu üben!

Growth Strategy for Fintech industry

BCG McKinsey
Neue Antwort am 17. Nov. 2020
5 Antworten
957 Views
Anonym A fragte am 15. Nov. 2020

Hi! I was thinking to get some insight regarding the growth strategy for fintech industry!

The goals are they want to increase their revenue, specific in they want to increase their daily usage of the apps. Im thinking about 2 things

1) organic growth: added new product/features, efficient the product, cooperate with other fintech/banks

2) non organic growth: M&A, divest some product, increase marketing (which is, cash burn)

Looking back for your feedback!

Cheers.

Übersicht der Antworten

Upvotes
  • Upvotes
  • Datum aufsteigend
  • Datum absteigend
Beste Antwort
Adi
Experte
Content Creator
antwortete am 15. Nov. 2020
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience

If they specifically want to increase the daily usage of app, your ideas need to target that objective first then lay out other broad growth strategies.

Some ideas to increas daily app usage & keep users logged in for longer:

  1. Improve in-app user experience (very easy to use)
  2. Assure customers on cybersecurity first; launch biometric (fingerprint, face) login
  3. App only product offers
  4. New product features (appointment booking, remote advise etc)
  5. Gamify e.g. some rewards for x number of logins, x number of transactions, x number of referrals (friends & family) etc
  6. In app news- latest updates, money management advise, investment advise etc etc
  7. In-app messages to communicate with customers
  8. Two way communication via app chat i.e. allow customers to give feedback, suggestions etc
War diese Antwort hilfreich?
Udayan
Experte
Content Creator
antwortete am 16. Nov. 2020
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

The split works well, good structure and points overall

Few more things to add if you want

Organic

  • Launch in new geographies
  • Launch a referral program
  • Build a community for your product

Inorganic

Just be more specific on what type of M&A you would do, what type of marketing channels would you look at etc.

Best,

Udayan

War diese Antwort hilfreich?
Ian
Experte
Content Creator
antwortete am 15. Nov. 2020
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

Overall, good structure. I'm a fan of splitting between organic and non-organic.

However, you need to have a true "approach" tied to this as well. So, how are you going to determine which growth areas to pursue? What will you look at to determine which one(s) will be best (fastest, most profitable, etc).

War diese Antwort hilfreich?
Clara
Experte
Content Creator
antwortete am 16. Nov. 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

That is a good start, so to say, 1st branch of the tree. However, now you need to keep going in each of them.

  • Organic:
    • Geographies
    • Product mix
    • Channels
    • Clients mix
    • etc.
  • Non-organic:
    • Strategic KPIs to look into when you look for a target
    • Post-merger integration
    • etc.

Best,

Clara

War diese Antwort hilfreich?
Gaurav
Experte
Content Creator
antwortete am 17. Nov. 2020
#1 MBB Coach(Placed 750+ in MBBs & 1250+ in Tier2)| The Only 360 coach(Ex-McKinsey + Certified Coach + Active recruiter)

Hello! I like your structure and the ideas for a start are very good. If we start specifically from the goal of increasing the daily number of uses of the application, it is necessary to conduct research, studying what people want to see in them, depending on the specifics and purpose of applications. You can run as many ads as you want and use marketing, but without a flawlessly working application with the most convenient functions, people will not use it for long. Compare with competitors' apps. Maybe you will notice some interesting features that will make it much more convenient for your users to use.

The second point: what target group are they working for now and whether it can be expanded. Maybe for new segments, you can offer some new functions that will make them use it.

Was it helpful?
GB

War diese Antwort hilfreich?

Adi

Content Creator
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience
176
Meetings
14.243
Q&A Upvotes
98
Awards
5,0
70 Bewertungen