Piquing interest with a powerful app
How we helped a leading financial institution harness the power of digital to improve client retention and leapfrog competitors in a niche market.
How can traders in a niche market pique their clients’ interest to reduce approval time and ensure the capture of unique trade opportunities?
In the high pressure world of trading, timing is everything. The niche market of block trading is no exception.
Due to the high value nature of a block trade, approval is often required by c-suite executives, who can be difficult to contact at short notice.
Any delay in approval can lead to:
- missed opportunities;
- impacts on client investment strategy;
- impacts on the revenue stream of a low volume/high value business; and
- increased stress levels in traders involved in block trade transactions
By immersing ourselves in the world of block trading, we learnt that traders weren’t able to quickly notify buyers and sellers of potential trade opportunities that matched each of their preferences.
Early discussions revealed our client’s desire to resolve this problem with a new trading app. But armed with insights from industry research, customer interviews and guiding principles, we quickly developed a more human and game changing solution.
“It paid for itself on the first day.”
Value created for people
Working iteratively, we pitched, tested, and built an app that notified clients of potential trades based on their preferences. All within 3 months – a delivery speed previously unheard of by our client.
Within seven days of launch, more than 94% of the market had adopted the new app as part of their daily routine.
Key success measures
Our client engaged us to create a new block trading app. But by delving deeper into their customer frustrations, we identified a more targeted solution that saved our client significant investment while leapfrogging competition in the market.