AMENA AFRICA

Project Quote

A Gulf-based fintech company seeking to establish a neo-bank in East Africa

Service: Market Research – Benchmarking

Location: Rwanda, Tanzania, Uganda

Mandate

Develop a benchmarking market report on establishing a neo-bank in East Africa

About Client

Since 2018, the client has been driving digital transformation in banking systems across emerging markets. Their mission is to revolutionize digital banking by providing sustainable, affordable, and lasting solutions for end customers

Client's industry

FinTech

Project duration

4 months

Objectives

The client seeks assistance in understanding the current market environment for establishing a neo-bank. Government regulations, policy changes, and the opaque sector landscape have complicated the development of a clear roadmap. We are tasked with creating an up-to-date market report that includes all relevant information on market potential and the challenges the client may face in their neo-bank ambitions.

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Our approach

To adapt to the constantly changing landscape, we replaced traditional research methods with digital analytics, focus groups, and social listening. Our goal was to gain a comprehensive understanding of the plans and thought processes of relevant stakeholder leadership teams. We engaged policymakers, government officials, key finance industry stakeholders, and consumers.

Results

We submitted an 86-page report to the client that clearly outlined the key differences, challenges, and opportunities across the respective countries. This data, a first for the East African market, can guide the client in establishing a neo-bank. Despite the regulatory challenges, the report identified clear action points for moving forward.