Intention Paper
Last name:……………………………………….. First name:………………………………………………….
Title Proposal (worded as a question): How can we help people at the bottom of the pyramid achieve their dreams?!
Brief description of the project:
The idea is to create a digital banking platform serving “the bottom of the pyramid” in Kuwait. This segment includes labor (builders, cleaning staff, drivers, house helpers, etc.), who come from a defined group of countries, with a maximum formal income of around USD 700. Currently, the only banking service available for this segment is cash withdrawal from few designated ATM machines.
Services will include money transfer, payment, micro-credit, financial management, insurance and other mobile wallet services.
The platform will utilize partnerships with local banks in Kuwait as well as banks in the home countries of the customers to deliver superior and affordable banking services. The distribution network will be third parties including small supermarkets and other types of small shops that usually target the same segment.
Value proposition:
- help customers achieve the goals for which they left their countries by giving them the right tools to plan, track and manage their financial
- Provide customers with access to credit, when needed, at affordable conditions
- Connect the customer to their home country bank (for longer term plans at the home country)
- Facilitate money transfer to customers’ families/dependents at the home country
- Provide secure online payment services
Note: I might change the target market (Kuwait) based on information-related limitation or any other limitations. In that case, plan B will be Egypt (which will have an impact on some elements of the business model and the nature of the target segment). Would be great to have a discussion on this matter with the assigned advisor.
Team Rationale (if applicable, please state here expected teammates’ contribution): Not applicable
Company: name has not been decided
Company Group (if any):……………………………………….
Industry: Financial Technology
If any confidentiality issues are raised, please specify the names of the competitors that we must exclude from the oral presentation committee.
I undertake to submit the written report and to present an Oral Defense to a Committee in accordance with the EMBA planning.
