Formulation of Strategic Plan for a Financial Technology Startup Company

Abstract

This study formulated a strategic plan for a financial technology start-up company in the Philippines. The business model involves selling airtime prepaid loads and mobile top-ups, channel and medium for various remittance and financial institutions, and Artificial Intelligence (AI) capable system that gives assistance and basis to its users for granting of loans. The FinTech industry is a fast-emerging industry in the county. The Philippine government pushes and backing up the financial inclusion and digitization programs aiming to simplify and bring ease and convenience of doing business which brings stiff competition among FinTech companies. The emerging market and stiff competitors can bring disadvantage position, thus strengthening marketing initiative campaign will be the best strategy for the company. Based on the strategic management tools and gathered data, market penetration will be the best strategy for the FinTech company to sustain performance. The marketing campaigns and use online social media platforms must be utilized to do promotions and advertisements. Specific action plans to achieve the company’s objective is to create social media accounts and increase its presence on all social media platforms. The creation of short audio-visual presentations and videos will inform, and educate the targeted market about the company, and its product and services. The videos will be also used to inform the market about the importance and advantage of doing online transactions. The implementation of the strategies and program plans is expected to bring a FinTech company to a better position and can be the leading and most trusted financial solution providers in the country.