Case Study

In-Depth Concept Validation for FinTech

(
)

Strop supported our client, a Latin American Fintech, in exploring opportunities for a product in a new market, Brazil, leveraging on-the-ground interviews with target segments.

Case Study: In-Depth Concept Validation for FinTech

Context:
A Mexico-based fintech aimed to explore innovative ways to offer credit by using mobile devices as collateral. This solution targeted both consumers and small business owners, offering distinct benefits to each group. The goal was to provide low-rate credit access for consumers and enable immediate payments for small shop owners, while customers would repay over time using their phones as collateral.

Engagement:
Strop partnered with the fintech to execute a qualitative research study in São Paulo, Brazil. The objective was to gather real-time feedback from two key target groups: shoppers/consumers and small business owners. The focus was to uncover opportunities within these groups, assessing their interest and concerns regarding using a mobile device as collateral for credit access.To achieve this, Strop conducted a series of casual intercept interviews with consumers and small business owners. Each interaction lasted between 5 to 10 minutes, incentivized with cash payments. These quick, in-the-moment discussions provided authentic feedback, directly capturing participants' thoughts on how this novel credit offering would work in their daily lives and businesses.

Methodology:
The intercept interview format allowed Strop Insights to directly engage with participants, gathering unfiltered feedback on the spot. Discussions centered around the concept of using mobile devices as collateral for a low-rate credit card (for consumers) and how the system could benefit small shop owners by allowing them to receive immediate payments from customers who would then pay back over time. The simple yet effective methodology provided fast insights into key consumer behaviors and business needs.

Result:
The research highlighted several unique opportunities within both target groups. For consumers, there was strong interest in the concept of leveraging their mobile devices to secure low-interest credit, especially for those who lacked traditional collateral or access to banking products. For small business owners, the immediate payment option was appealing, as it provided greater cash flow flexibility while reducing risk.

Conclusion

By focusing on real-world, in-context feedback, the fintech was able to refine its offering, ensuring that the final product was well-aligned with the specific needs of both consumers and business owners in São Paulo.

Related Case Studies

Persona Building & Segmentation
Customer Segmentation for Consumer Electronics

Customer segmentation deep dive for a leading audio technology company

Due Diligence
Rapid Brand Positioning & Diligence Study

Conducting time-sensitive brand positioning and market diligence study for a Private Equity client.