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Ualá’s "Tech and Touch" Customer Strategy: A Fintech David vs. the Goliaths of the Financial Services Industry in Latin America

Published 27 May 2021
Reference 6677
Topic Marketing
Region South America
Summary

Ualá’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, Ualá 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’).

Teaching objectives

The case offers a new lens through which to design and execute a tech-and-touch strategy, use analytic tools to create a framework for a digital marketing strategy, and see what combining a social mission with a for-profit goal can look like.

Keywords
  • Consumer technology
  • Digital disruptions
  • Mobile strategy
  • Marketing strategy
  • Digital growth
  • Analytics and big data
  • Banking / Finance
  • Fintech
  • Bottom of pyramid
  • Inclusive business model
  • Go-to-market strategy
  • Influencer marketing
  • Platform competition
  • Tech and touch
  • Q22021
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