Financial Services
Designing and implementation of marketplace-based financial solutions
07 Mar 2023
ContextA
major E-commerce player wanted to implement no-cost EMI solutions along with
other financial services on its platform to enhance affordability of the
products available on the platform
Our approach
- Estimated sector wise market size for leading sectors with
potential for consumer lending
- Conducted extensive field research to benchmark schemes and
consumer lending offerings across selected high-potential sectors (electronics
and consumer goods)
- Created pitch decks for the client to pitch the consumer lending
schemes to potential partners across various sub-sectors (mobile phones, TVs,
etc.)
- Performed competitor benchmarking to understand the as-is
and industry best practices from top players
- Mapped end-to-end reconciliation processes including building
accounting entries (both off and on books)
- Studied as-is reconciliation journeys to devise key
operational steps to be built in back-end to enable transaction flows across
all parties
- Created data master templates to capture and
validate relevant information at each step of the customer journey
Praxis
value delivered
- Sector-wise potential based on market size, key pain-points,
competition, barriers to entry among others
- Identified best-selling consumer financing schemes in the
market across sectors, products, models and channel of customer engagement
(online vs offline)
- Enabled onboarding of partners for the successful
implementation of financing offerings on the client’s E-commerce platform and
offline stores
- Accounting entries from customer’s product purchase to
financier fund settlement were successfully constructed, including various
scenarios such as successful purchase, product return, scheme accommodations,
etc.
- Operational processes were laid down as per best market
practices along with potential client value offering which were identified and
included in each step of the journey
- Streamlined reconciliation process by
eliminating inefficiencies in processes between multiple stakeholders
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