⛑️ The Pricing Lifeline for Fintechs
⛑️ In the challenging environment
BCG throws out a lifeline for Fintechs
👉 Pricing Optimization
Pricing is an important tool to keep up revenue with the rising funding and operational cost.
The opportunity is not only for B2C/B2B fintechs, but also for incumbent banks and credit unions.
A brief summary of the BCG report:
🟦 Many fintechs fail to understand customers’ pricing sensitivities; lack of focus leads to limited data and technology.
🟦 An effective pricing strategy can better capture the full value of service and products vs. unprofitable volume growth.
🟦 A suite of pricing opportunities to consider:
🔳 Higher price productivity - match price with value
🔳 Selling full franchise - offer more value with a bundle
🔳 Smoothen revenue profile - switch to subscription for example.
Full report by BCG on Financial Institutions:
"Why Pricing Optimization can be a Financial Lifeline for Fintech"