Subject category:
Marketing
Published by:
INSEAD
Version: 06/2021
Revision date: 13-Jul-2021
Length: 11 pages
Data source: Field research
Abstract
Uala's bold 'tech-and-touch' strategy brought 2.7 million new customers - 1 out of 20 people in Argentina - into banking in less than four years (2017-21). Readers step into the shoes of CEO Pierpaolo Barbieri as he begins by (1) uncovering pain points and untapped needs in banking in Argentina through digital analytics, (2) transforming his insights into a clever tech-and-touch strategy combining physical (prepaid card) and digital aspects powered by a mobile app. Having achieved massive success onboarding unbanked customers in Argentina, Uala must craft a strategic response to new competition from online banks and digital 'Goliaths' such as Mercado Pago (finance arm of Mercado Libre, the 'Amazon of Latin America').
About
Abstract
Uala's bold 'tech-and-touch' strategy brought 2.7 million new customers - 1 out of 20 people in Argentina - into banking in less than four years (2017-21). Readers step into the shoes of CEO Pierpaolo Barbieri as he begins by (1) uncovering pain points and untapped needs in banking in Argentina through digital analytics, (2) transforming his insights into a clever tech-and-touch strategy combining physical (prepaid card) and digital aspects powered by a mobile app. Having achieved massive success onboarding unbanked customers in Argentina, Uala must craft a strategic response to new competition from online banks and digital 'Goliaths' such as Mercado Pago (finance arm of Mercado Libre, the 'Amazon of Latin America').