Some of the questions
we have answered
-
Innovative European Bank
(Pre-paid card product)
Challenge
How do we improve the performance of a pre-paid card product and increase profitability and market-share?
Change
- Identified new and growing market share opportunities within the European market based on focused research
- Led collaborative workshops with the Management Board to drive engagement and establish a willingness to change
- Using gap analysis, explored the weaknesses between existing products and capabilities and how they can be closed to maximise opportunity.
- Selected the most impactful niches and specified products and features needed
- Drew up change management programme to drive internal systems and external product development
Grow
- Refocused sales and marketing effort growing portfolio by 20% over the first 6 months
- Company more aligned to the “One Sales Team” approach to niche markets
- Company fitter, more agile, more robust – all skills and functions coordinated to achieve success
-
EEA – European Economic Business
(Market entry)
Challenge
How does a successful merchant acquirer break into new EEA markets without compromising the quality of its products and customer service and its cultural values?
Change
- Witstock identified the most suitable target market(s) and developed a comprehensive entry strategy
- Designed and built a JV start-up offering
- Delivered a value-added product that created real competitive edge
- Managed the business for 2 years prior to agreed exit
Grow
- Over 2,000 SME merchants recruited in 18 months
- Strong growth trajectory with comprehensive expansion plan
- Laid foundation for an acquisition that delivered over 2% of major EEA market
-
European Central Bank
(Processes & Systems)
Challenge
How can a National ATM infrastructure which was inefficient, suffocated by regulatory challenges and was used by multiple third party vendors be integrated to serve the needs of society ?
Change
- Witstock united all parties to create a shared view of the challenge and the potential of the successful outcome
- Developed a model of the market that was used to evaluate ideas and simulate outcomes
- Made recommendations to central bank for changes to market regulation
Grow
- Four banks working in seamless collaboration
- Increased levels of cash availability for all customers
- A modern, competitive national infrastructure was provided for all customers
- Better customer choice and experience
- Greater opportunities for innovative banks to expand the provision of services
-
Pan-European Processer
(migration from processor to acquirer)
Challenge
In a global market where card transaction processing is becoming increasingly commoditised, how could a Pan-European processor company move up the value chain to become a principal member of the wider card acquirer marketplace?
Change
- Put in place a Programme Plan, PMO and governance structure
- Provided key members of the interim management team to support the necessary culture change for regulated businesses
- Created the operating model for the new business and implemented it
- Provided leadership for the IT migration change programme
Grow
- Conversion from processor to acquirer achieved in 12 months
- Principal membership of Visa and Mastercard
- Merchant migration achieved with very low attrition across 12 EU countries
- Revenue growth ahead of plan
- New revenue opportunities in ATM and e-commerce being developed
-
National Payments Programme
(Uptake of NFC payments methods)
Challenge
How could the uptake of NFC (contactless) payment methods be stimulated and expanded?
Change
- Put in place a Programme Plan, PMO and governance structure
- Created a shared understanding of the challenges
- Developed common solutions across multiple industries and promoted their uptake
Grow
- Mobile, bank, card scheme, retail and mass-transport sector collaboration implemented
- Agreement to a common usage etiquette adopted by players
- Bi-lateral collaboration improved
- Strong growth in usage achieved
-
Fintech start-up in Payments
(New product innovation)
Challenge
How could Witstock launch and position an evolutionary new product in the heart of the traditional payments industry?
Change
- Worked with client to develop a payment centric view of the existing product
- Repositioned the product proposition and marketing programme to deliver a payments-friendly market position
- Refined the targeted scope for the product to give it focus in the marketplace
- Supported investment proposals for repositioned product
Grow
- Key sales in payments sector won
- Client selected by major mass transport groups to support roll-out of self-service ticket production
- Revenue growth achieved in sector
What is your challenge?
If you want to grow your business, then click below. We would welcome the challenge.
