We will explain with an actual example. The Maré Bank is a fintech created in 2016 to serve residents from the 17 areas that form the Maré Complex, in Rio de Janeiro - Brazil, where there aren’t any bank branches.
More than 200 thousand individuals started shopping in local businesses, making payments and bank transfers through the company’s app. Thousands more, from regions lacking banks are also being benefited.
In counterpart, the firm gained notoriety, acceleration processes from Facebook and Artemisia, partnerships with Sicoob (Brazilian Credit Union System), the growth to other regions of the country, and, today, focuses on the possibility of creating a stock exchange for investing in businesses associated with high social impact.
On one hand, digital and financial inclusion, the resolution of the practical problems of life. On the other hand, profit for the firm, strengthening of the ecosystem and the increased growth speed for new businesses.
In the case of consolidated enterprises such as Sicoob, the positive flow is the establishment of partnerships with businesses specialized in their markets, what generates, besides the aforementioned strengthening of the ecosystem, flexibility in the delivery of services and better results, due to specialization.
Advantages for companies.
Calculations reveal that strategic partnerships are very profitable. To produce everything in-house costs a lot: the team, infrastructure, equipment, technologies, and intellectual capital.
Counting on a partner also allows a new target audience to be reached. Returning to the scenario: When Sicoob formed the partnership with Maré Bank, it could reach an enormous amount of new individuals who have become new clients.
If we consider last year's data from the Brazilian Central Bank, in which 86.3% of the adult population has any kind of relationship with the banking system, there is still an universe of 22.1 million Brazilians that don’t have access to financial services and are waiting for options such as the Maré Bank and Sicoob partnership.
Again, the prognosis is positive for both sides.
Advantages for users
For users and clients, partnerships amongst companies and specialized services mean new solutions for routine problems. It’s what determines the success of a business. Digital and financial inclusion, access to services such as credit cards (Nubank), transport (Uber) and, food delivery (iFood), as examples.
The possibilities are endless, as much as from trivial issues as solutions. Those exploring these practical questions are new companies, startups and specialized companies (35% of Brazilian fintech are aiming for those who don’t have bank access, for example). There’s nothing better for a large company than to attract the innovative point of view from a new specialized company, and for a startup, it is fundamental to have the investments and support of the big corporations.
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