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case Study

Virtual Bank Evaluation

We guided a leading ASEAN Buy-Now-Pay-Later FinTech player through exploring the option of establishing a virtual bank in Philippines.

Client Description

Leading ASEAN Buy-Now-Pay-Later FinTech
Our client is a buy-now-pay-later (“BNPL”) FinTech player in ASEAN, with an established footprint in Vietnam, Indonesia, and the Philippines (“VIP”). Since founding in 2017, our client has developed an extensive selection of technology solutions to service the underbanked population in these markets.

Problem Statement

The client wished to establish a virtual bank in the Philippines, leveraging existing technological capabilities and solutions.

Project Approach

Opportunity Identification

We reviewed the Philippines banking landscape and regulations, to determine whether an opportunity is available.

Competitive Benchmarking

We evaluated all six virtual banks in Philippines, to identify their value propositions and success enablers.

Operational Considerations

We compared the client’s capabilities against incumbent VBs’, to define operational and gap-closing needs

Key Achievements

Opportunity Validation

Calculation of virtual banking market size, with estimation of realistic market share for the client.

Business Transformation

Evaluation of existing capabilities and guidance on how they can be pivoted into a virtual bank.

Roadmap Establishment

Identification of success drivers, with a strategic plan how to address capability gaps.

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