SME Financing Company digital transformation
One of the fastest-growing publicly traded companies in the SME finance industry has outgrown its systems and processes. The company realized that an end-to-end digital transformation is crucial to supporting its rapidly growing portfolio and customer acquisition while maintaining efficient processes, high-quality credit underwriting, and proper risk management and compliance.
We designed a customer-centric, end-to-end digital transformation program that enabled fast incremental business benefits, and flexibly adapted to the companies’ change capacity. The comprehensive program aims to transform the customer experience and internal processes into advanced end-to-end digital processes. It will offer customers a digital, user-friendly, and personalized experience that is tailored to their needs in real-time. The solution will facilitate quick credit decisions, built on advanced underwriting models and rich data, while providing excellent customer service and flexibility to adjust to business changes.
Our comprehensive solution includes leading design, planning, and specification, selecting vendors, and providing hands-on project management.
A large Credit Card Company's Risk Management restructuring
A large credit card company's incoming CEO has decided to upgrade its risk management operations. The objectives were to focus on the most material risks, improve alignment with the business strategy, and close gaps as quickly as possible.
We devised a combined top-down and bottom-up approach. Together with the newly appointed Chief Risk Officer, we reexamined and adjusted the organizational structure and recruited key managers to drive the change and new focus. We conducted a gap analysis on key risk dimensions and developed a prioritized implementation plan for approval by the CEO.
In parallel, we developed short-term, agile solutions to support ongoing initiatives and provide risk management solutions, all while filling critical gaps with practical, "good enough" solutions.
Establishing a BNPL (Buy Now Pay Later) Joint Venture
A large credit company wanted to establish a joint venture with an innovative FinTech startup to introduce a joint BNPL (Buy Now Pay Later) solution to the market. The challenge was to build the business model and holding structure, define the processes and technology integrations, and establish the legal, regulatory, and compliance structure.
We took over the role of external business leader, collaborating closely with the SVP Strategy and Business Development.
The first step was to analyze the market opportunity and economics of the venture and develop a business plan and strategy. We then led the negotiations with the business partner to reach a final agreement. Parallel to this, we mapped all business and project requirements, including legal, regulatory, technology, and process issues, and devised a multi-stream work plan, coordinating between various functions and the FinTech partner.
Though the project is still in progress, it's obvious that one of its greatest challenges is bridging the cultural gap between a large financial institution and a FinTech start-up.