Establishing a global brand in a regulated industry such as financial services, and turning it into one of 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐝𝐢𝐬𝐫𝐮𝐩𝐭𝐨𝐫𝐬 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:
✔ Successful business building requires the ability to pivot quickly and to adapt the product based on feedback from the market.
✔ Monetization is important, but it will come only from customer happiness, which needs to be the primary focus.
✔ 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.
✔ A strong brand and great user experience will be effective differentiators in every market—but local expertise is still required.
