GetBucks went from 1.3m in arrears to develop a cost to recoveries ratio of 3.6%
Relocating operations to a foreign market like Barcelona involves multifaceted challenges, ranging from securing cost-effective office space to optimising debt collection processes. GetBucks confronted these issues as it sought to establish its Barcelona operations.
iBerotech delivered comprehensive support, from the initial setup to ongoing operational optimisation. This enabled GetBucks not only to successfully relocate its operations but also to realise significant efficiencies in customer acquisition and debt recovery.
Over a decade launching financial services operations for foreign organisations
"Julio supported the operational ramp up of Ferratum's operations in Spain, tasked to recruit strategic partners Julio demonstrated hands-on problem solving skills and outstanding commitment. Through enthusiasm, energy and a results driven approach Julio was able to line up potential partners in the financial service industry in a short time."
Regional Director Western Europe at
Multitude Bank (FERRATUM)
Start on the right foot; we've made a enough mistakes so you won't have to
Get introduced to strategic vendors and key partners straight away
A thorough market research and competitor's analysis is key to design a winning go-to market strategy, and yet many fail to get it right the first time.
Launching your lending business in Spain doesn't have to be a trial-and-error process when you can count on several years of expertise.
Key partnerships are a power multiplier. Launching new businesses successfully will greatly depend on the quality of your partners.
Access EU's 4th largest 1.4tn GDP market
A fragmented lending sector that poses huge upside potential
€72.5b non-mortgage household loan market size
€5.7b alternative lending market size
€476b forecasted personal loan market size 2027 (CAGR 11,79%)
Spanish homogeneous lending space offers little differentiation, which represents a great opportunity for innovative products and distribution channels.
Discover market gaps and other opportunities
Gain insights into underperforming market players and identify prime acquisition opportunities
Craft a 360º strategy
Market-specific strategising sets you for winning
Design your product to stand out
Improve your customer acquisition costs
Build a memorable brand
Design a smooth go-to-market plan
A well-informed strategy adopts a holistic approach. Spain, with its rich history and varied consumer base, offers a wealth of opportunities. While some might use a one-size-fits-all approach, we believe in devising strategies tailored to the unique nature of the market.
Informed strategic decisions lead to successful market entry
Let's work together through your budget, timeline, and expectations
We start by listening, then together we will analyse your existing products, budget, timeline, and expectations to ensure a smooth start.
We will connect you with top-tier partners who will ensure a smooth setup of your operations, and will help you hire the best available team members.
After testing and monitoring an initial MVP, together we will roll out a first iteration of your product and will engage with marketing and sales actions.
Streamline your operations
Efficient processes will get you closer to brake-even
Minimise customer onboarding touchpoints
Automate repetitive low-value tasks
Optimise for cost-reductions
Focus on user experience
By embedding automation as the backbone of your operations, not only you improve customer experience, you will capitalise in economies of scale and increase productivity, while freeing time and focus on high-value activities, creating a virtuous circle.
Let's do business in Spain
Manage your risk exposure
Focus on preventive actions
Identify and reject fraudsters
Outsource your scoring algo
Monetise on late payers
Proactively manage your arrears buckets
Drawing from our extensive experience, we understand that southern markets, unlike the Nordics, necessitate a nuanced approach to risk mitigation. Cultural subtleties significantly influence loan repayment patterns, calling for a market-specific risk strategy.
Uncover revenue opportunities
Parallel revenue streams will strengthen your business outlook
Resale rejected applicants
Build alternative products for cross-up-selling
Issue branded debit cards for higher engagement
Monetise on white-label opportunities
Many lenders overlook the fact that existing customers are often the most cost-effective and profitable in their portfolios. When not constantly putting out fires, your team can dedicate time to cultivating profitable revenue streams.
Keep your customer acquisition costs at bay
Unpopular channels prove rewarding
Engage with lead generators
Establish hybrid compensation schemes
Monetise rejected applications
Leverage guerrilla marketing
Customer acquisition costs can range from €50 to as high as €300, especially with TV advertising. However, based on my experience, the optimal cost can be reduced to below €30 using a hybrid payout model.