The traditional banking industry is heavily regulated and licensed which limits the use of technology to offer better and higher value products to end customers. Due to technology and security constraints, migration of banks from legacy systems to high-technology setups takes a lot of time, money & commitment.

Banking industry is on the forefront of adopting technology and with this, many banks today offer “Banking as a service” (BAAS) and “Banking as a platform” (BAAP). In a BAAS setup, different players can use the banking license of offering bank and develop services on top of it for the end-customer. In a BAAP setup, the other players can use the technology infrastructure of the host bank and offer high-end technology solutions to its own customers.

The client was a middle-east based bank which had recently migrated their IT setup to offer BAAS & BAAP to different players in the market. They wanted to create value messaging for each of the different stakeholders for a highly complex financial product in such a way that we break it down to the core elements and then depict it in the easiest possible way to the prospective client.

The key challenge was to create a value messaging for each stakeholder.

The challenges can be broken down as –

Identify and understand the different stakeholders

Understand the triggers and barriers for each stakeholder to formulate the basis of value messaging

Create value messaging targeted to each of the different stakeholder in a way that it resonates with their requirements

The key takeaways are as follows –

Identified different prospective stakeholders via competitive benchmarking of different banks offering BAAS and BAAP products globally.

Identified and ynderstood the factors of influence, triggers and barriers to purchase via expert interactions with different potential stakeholders like banks, challenger banks, end-

customers and so on.

Created the sales deck with value messaging for each and every stakeholder to maximize the lead conversions.

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