How fintech startups can grow by building value for existing users


This new paper features case studies on fintech startups around the world that have successfully grown their value propositions during the COVID-19 pandemic . These startups, all portfolio companies of Accion Venture Lab, illustrate three core strategies for growing value among existing users:

  1. Motivate increased usage of existing products,
  2. Broaden the suite of products specific to users’ needs, and
  3. Create a graduation pathway to reward retention.

The first strategy seeks to improve the user experience through features that encourage more frequent or in-depth use of products and services. The second strategy requires studying and applying users’ needs to craft a suite of products that address their particular pain points and fulfill more of their needs. Finally, the third strategy boosts value for users by sweetening and improving their terms over time so that they stay engaged. To execute each of these strategies, startups must stay closely attuned to users’ needs and experiences, and apply that knowledge to develop products that meet those needs.

This shift to increasing value for users is extremely relevant in the era of COVID-19. Lockdowns and sharp decreases in demand for goods and services have left many families and small businesses extremely vulnerable. These people need more and new financial service innovations to rebuild their safety nets and livelihoods as their savings and inventories have been depleted. Increasing value for these users means finding new and better ways to meet their needs via meaningful, customer-centric value propositions.

Executive Summary

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