EXECUTIVE SUMMARY

Cashpresso is the Buy-Now-Pay-Later Service of Raiffeisen Bank International. It was originally developed by Credi2 GmbH and later on taken over by RBI. This brings together the stability and trust from a leading bank with the innovation ability of a FinTech. Offering a variety of services, such as purchases in partner shops, micro-credits and bluecode payments. The USP of cashpresso is transparency and flexibility.

Goal

According to our project partners findings, they have experienced a lack of customers below the age 25. This means the age curve of users is distributed as a bell curve having its peak at approximately 35 years. The goal therefore is, to acquire younger customers. In order to do so, our team was prototyping different marketing strategies, aiming to address young adults.

Methodology

The Methodology being used was Design Thinking. This is a user-centered approach focused on innovative problem-solving through five stages: empathize, define, ideate, prototype, and test. It starts with understanding user needs, defining the problem, brainstorming creative solutions, developing prototypes, and testing them. This iterative process ensures continuous improvement and refinement of solutions, aiming to create effective and user-friendly outcomes.

Results

Our conducted survey has shown the following key-insights as being most relevant. Firstly, there is the end-of-month problem, were customers experience a lack of liquidity and are most likely to use cashpresso services. Secondly the survey says, that people are more likely to purchase items or services if they show a high subjective value to them personally. Lastly, an important insight to deal with, is the risk aversion of the customer towards BNPL-systems. Trying to address these insights, we made a coffee-campaign at the end of the month, where cashpresso gave out free coffee in cooperation with the WU student council. The coffee cups were fitted with QR-codes linking directly to cashpresso. Additionally, people could win cinema ticket’s (addressing subjective value) on the cashpresso fortune wheel if they downloaded the cashpresso app.

Cooperation Partner

• Raiffeisen Bank International

• Am Stadtpark 9, 1030 Vienna, Austria

• rbinternational.co

Contact Person

• Juraj Jurco - juraj.jurco@rbinternational.com

Student Team

• Timo Mende

• Tijana Veljkovic

• Philipp Strasser

• Karolina Trembecka

• Benjamin Kos

Project Manager

• Florian Peter Nemetz, M.Sc., M.SSc.

• Diana Lauer, M.Sc.