Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You work for a company called FinTech Newco, who specializes in helping banks expand and manage business. FinTech Newco is submitting a services proposal
You work for a company called FinTech Newco, who specializes in helping banks expand and manage business. FinTech Newco is submitting a services proposal to Westpac Banking Corporation. This is a competitive b process where one company (FinTech Newco) is bidding for the business of another company (Westpac Banking). Westpac Banking is based in Australia and looking to create a FinTech strategy to target its customers. We Banking Corporation, one of the world's leading commercial banks, was looking to differentiate itself in a prosperou already digital-heavy economy. The bank wants to deploy an updated FinTech solution where 10 million consumer nearly 1 million businesses manage their money through the bank. Enabling compelling digital services to one of the world's most digitized economies is no simple feat. This is partic the case in a wealthy economy where consumer expectations have been widely shaped by the pervasive acce advanced digital devices and consumerized digital services, such as Facebook, Amazon and Google. Westpac want differentiate itself in what was already the world's most advanced-and invested in-digital banking market and tran the number of customers who engage digitally, including what they do and how often they do it. Of particular impor was enabling a broad range of users to become digital-only end users They are unsure whom exactly they should with this line. They believe their current customer based will be interested in a new FinTech solution but are wondering if is a new customer segment they should also be targeting. They aren't sure the best way to expand their FinTech reach to current and new customers. They may want a beta test with a smaller customer base before rolling the solution nationally. They are also nervous about how existing customer base will react to the new line. The client wishes to be able to incorporate new FinTech services for a new product that will enhance cu customer's services while attracting new customers looking for the latest technologies. Westpac Banking wants FinTech Newco to build a plan defining how to add more FinTech services, increase revenu customer satisfaction. Additionally, they heard about a type of FinTech known as crypto-currency and blockchain. The sp type of new services should include these FinTech tools. Westpac Banking is planning on regularly running market analysis to see how people respond changes in the new service(s).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Based on the information provided here is a concise breakdown of the key points and tasks for FinTec...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started