IBS Intelligence case study: Accelerated market participation and product enhancement study in GCC for a digital banking solution provider

By Puja Sharma

This case study from IBS Intelligence (IBSi) offers a deep dive into the client’s journey to expand its presence in the GCC region. IBSi provides industry-specific insights, strategic recommendations, and a market entry and product enhancement roadmap. The analysis serves as a valuable resource for industry professionals looking to understand the complexities and opportunities in the digital banking landscape of the Middle East.

The research was carried out at the request of a digital banking solutions provider based in Singapore, which specializes in building and deploying secure and scalable omnichannel digital solutions for major banks across Asia, the Middle East, and Africa.

The client sought IBS Intelligence’s expertise to accelerate its market presence in the Middle East, mainly focusing on the Gulf Cooperation Council (GCC) and enhance its product offerings to cater to a broader consumer base.

IBS Intelligence employed a strategic approach, conducting a thorough market assessment in the GCC. Key activities included a detailed analysis of the GCC economy, explicitly focusing on Saudi Arabia, Kuwait, Qatar, and UAE. The study delved into digital penetration in these key geographies, formulated banking landscapes, and compared top banks and banking systems to provide a holistic understanding of market dynamics.

The case study highlights the strategic implications for each geography regarding digital banking and FinTech innovations, enabling the client to gain valuable insights into market trends and opportunities. Additionally, IBSi conducted a detailed profiling of system integrators in the GCC, offering the client essential information to make well-informed decisions in evaluating potential synergies.

One of the key outcomes of the study was the development of a prioritization matrix and a recommended strategy for market entry into previously untapped markets. This allowed the client to leverage digitally mature markets for accelerated market participation and growth.

The case study includes a comprehensive analysis of the GCC’s top four digital banking suppliers, covering functional, technical, and competitive aspects. This provided the client with valuable benchmarks and insights into ‘must-have’ and ‘good to have features’ for product enhancement, aiding in developing an innovative product mix.

Why you should read this case study

• Insightful Market Assessment: A comprehensive analysis of the GCC economy, focusing on Saudi Arabia, Kuwait, Qatar, and UAE, and offering valuable insights into the digital penetration levels in these geographies, giving a deep understanding of the market dynamics.
• Banking Landscape Analysis: The case study formulates banking landscapes for the specified geographies, including comparisons between top banks and banking systems. This information is crucial for you to grasp the competitive landscape and potential areas for collaboration or differentiation.
• Strategic Implications: Key insight highlights critical implications for each geography regarding digital banking and FinTech innovations. This strategic vision enables you to anticipate market trends, assess risks, and formulate strategies that align with each market’s specific needs and opportunities.
• System Integrator Profiling: The detailed profiling of system integrators in the GCC region is invaluable. It facilitates well-informed decision-making in evaluating synergies with various SIs, offering a roadmap for potential partnerships or collaborations.
• Competitive Assessment: The functional, technical, and competitive assessment of the GCC’s top four digital banking suppliers provides a benchmark for evaluating competitors. This information is crucial for understanding market standards, identifying gaps in the current offerings, and formulating a competitive strategy.
• Prioritization Matrix and Market Entry Strategy: Developing a prioritization matrix and the recommended market entry strategy into untapped markets is a key takeaway. You may benefit from understanding how to leverage digitally mature markets for accelerated market participation and growth.
• Product Enhancement Insights: The analysis of 50+ features offered by competitors across functional and technical areas provides a roadmap for product enhancement. This information helps identify ‘must-have’ and ‘good to have’ features, enabling you to develop an optimum product mix and stay innovative in a competitive landscape.

This IBS intelligence case study offers a wealth of information, from market assessments to strategic implications and competitive analyses. Industry experts in digital banking, FinTech, and market expansion can gain valuable insights to inform their decision-making processes and enhance their understanding of the GCC’s dynamic financial services landscape.