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Case Study

Assisted wealth management company in market assessment and product development

The company was planning to launch a digital bank providing banking and investing services.


With an ambition to become a one-stop destination for all banking and investing needs, it was of utmost importance to understand the market size, growth rate, competitive landscape, regulatory environment, consumer trends, channel dynamics, etc. 

Bizcon was hired by one of the board members to provide them with a true and detailed picture of the market. The idea was to use these insights to establish an effective business model, develop the user interface, create a GTM strategy and marketing budget, define services, identify effective channels, and set up optimal price points.

Client Context

  • Client – a renowned family-owned wealth management company with dominance in the market through thought leadership, product and system development, return generated over time, and reliability.
  • The client sought opportunities in digital banking through its first-of-its-kind automated/Robo banking platform. A platform providing mainstream banking services in a digital environment along with automated wealth management services.
  • Client wanted to understand the dynamics of digital banking in Europe, particularly in the Swiss market to develop an innovative product that stands out from the crowd and an appealing market entry plan covering important aspects of the business.

BIZCON’s Approach

  • Bizcon first gathered information from reports published by research companies, government publications, stock exchanges, and trade associations to develop an initial view of the market.
  • Bizcon explored interviews, press releases, and podcasts by prominent figures in the market as they have the broadest view of the market and tended to have a good grasp of market size, growth, segmentation trends, how buyer profile is changing, etc.
  • Bizcon then identified competitors claiming themselves to be digital banks/automated banking/Robo bank and visited their websites, went through their press releases, and published content to gather information on the product, pricing, positioning, and channels and also to gain a grasp of who buys the product.
  • Bizcon employed a few competitor and audience intelligence tools to dig deep into the competitors marketing and promotional activities. It also helped Bizcon gain insights into consumer buying sentiments, needs, desires, and concerns.
  • Post data collected through various resources, Bizcon provided analysis,recommendation, and market entry roadmap for a 1–5-year time period.

The Result

It was revealed that digital banking is the new norm in the Swiss market and the market Is expected to grow exponentially in the coming years. This growth is primarily due to increased convenience in the services and the growing millennial population who relies on technology.

It was also revealed that there is no established name in the market though the market had lots of service providers with offerings similar to traditional banks, apart from a handful of providers with innovative offerings.

Furthermore, it was evident from the research that people are willing to explore the digital aspect of banking provided the service providers care for their concerns, where security and Innovation top the chart followed by convenience.

Based on these findings we proposed to the client a set of USPs and positioning statements for them to consciously think about and adopt during market entry. We also provided them with competitor mapping and analysis for them to understand what competitors are providing, at what price point, through which channels, and what are the means they are using to reach their customers. We have also provided them with unique consumer personas for a dedicated marketing plan.

Additionally, we proposed to the client to develop OKRs while project development and execution and constantly monitor them throughout the project duration for an effective launch.

The Decision

Our research and insights provided management with the key information necessary to understand the market as a whole and develop an innovative Robo bank offering services that can see a quick adoption rate.

The client decided to go big in its services with two major offerings – one for those who just want banking services and the other for those who want banking, financial and wealth management services.

To minimize the acceptance and operational risk, the client decided to adopt the MVP approach and keep the core banking platform completely independent from the wealth management platform.

The management also decided to go a little conservative in its marketing expenditure allocating 20-25 Euro to acquire one customer in its first year of operations.

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