How a global FinTech captured growth in the SME segment | EY
A global project requires a global team. At the start of the project, EY teams brought together professionals from the US, EMEIA and Asia-Pacific, with a support layer in India providing research, insight and sector knowledge.
The team began with a hypothesis-based approach, drawing on market insights to identify which countries, products and services should be prioritized for launch. Using a market assessment framework, the team looked at the FinTech’s footprint in a cross-section of markets, the value-add and growth opportunities, as well as key challenges and pain points. In parallel, the team considered core and incremental TaaS offerings, focusing on finding synergies between liquidity, cash flow and funding solutions and the client’s existing capabilities.
Integration proved to be a major challenge. Reviewing the client’s extensive, but fragmented, portfolio of applications, the team identified that there was a trade-off to be made between utilizing existing applications and internal platforms versus speed to market. The solution was brought together in an ecosystem, where the client would build some elements in-house, some would be bought in and bolted on, and others would be provided by third parties.
Innovative technology was fundamental to helping deliver a more SME-centric experience. The TaaS solution is predictive and event-driven. If a business is running out of cash, a traditional provider might offer a line of credit or an inventory financing loan. By contrast, the platform would be able to recognize a cash shortfall and, based on its understanding of the business and its inventory, might recommend factoring in their outstanding invoices instead.
Another important but nuanced innovation was defining the proposition in a more SME-centric way. Rather than focus on internal or jargon-heavy product categories, the EY teams reframed the offering in terms of “manage your business,” “manage your employees,” and “manage your outreach” — language that resonates with business owners and suggests clear benefits.
