Target Market Analysis
Area of Work:Product Innovation
Key Partners/Clients:Fidelity Bank of Ghana
Fidelity bank Ghana intends to become the leading provider of banking services to the mass market in Ghana. Fidelity’s Financial Inclusion Unit (FIU) sought analytical support to better understand existing and future low-income clients and offer products that build on Smart Accounts and its existing network of banking agents. BFA global consultants analyzed the behavior of FIU’s 300,000 existing mass market customers, assessed potential market segments using secondary survey data, conducted primary research on a sample of customers as well as those who are not yet banked, and checked alignment with existing business cases. Deliverables included a potential re-design of the existing transactional and savings products, as well as the design of a new credit product for the mass market.