Establishing a global brand in a regulated industry such as financial services, and turning it into one of ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐ฌ๐ฎ๐๐๐๐ฌ๐ฌ๐๐ฎ๐ฅ ๐๐ข๐ ๐ข๐ญ๐๐ฅ ๐๐ข๐ฌ๐ซ๐ฎ๐ฉ๐ญ๐จ๐ซ๐ฌ is almost mission impossible.
According to McKinsey & Company, where they interviewed N26 co-founder and co-CEO:
- setting a bold vision,
- adapting the business to respond to market feedback,
- putting customer satisfaction first
has enabled digital-banking start-up N26 to grow rapidly into a global bank valued at $3.5 billion.
Here are the 4 key insights into their success:
โ Successful business building requires the ability to pivot quickly and to adapt the product based on feedback from the market.
โ Monetization is important, but it will come only from customer happiness, which needs to be the primary focus.
โ To successfully steer your organization through rapid growth, you need to hire experienced leaders, select scalable back-office systems, and establish full transparency in your reporting.
โ A strong brand and great user experience will be effective differentiators in every marketโbut local expertise is still required.
