1 Hong Kong s Financial Product Marketplace
Introduction to MoneyHero.com.hk and Price Comparison 2 2
MoneyHero.com.hk is Part of CompareAsiaGroup - the leading Pan-Asia financial comparison marketplace Population (m) GDP ($bn) GDP CAGR 15-21E (1) Internet Penetration 2009 2015 Our Asian footprint: We are where you are Hong Kong Taiwan Singapore Indonesia 7 310 2.7% 69% 79% 23 524 2.4% 70% 80% 6 293 2.4% 69% 81% 255 859 5.6% 7% 28% Live in seven Asian markets: Hong Kong, Taiwan, Thailand, Indonesia, Malaysia, Philippines and Singapore +1500 products available for comparison across diverse verticals (Banking, Insurance and Telco) Working with all of Hong Kong s banks and lenders Philippines 102 292 6.3% 9% 44% Thailand 69 395 3.1% 20% 54% Malaysia 31 296 4.8% 56% 66% Sources: IMF, Statista, Nielsen 3
Helping Providers Grow Online 4 4
First Problem: Providers didn t like comparison, but consumers were already comparing. Question: Will you compare the personal loan features from different banks/financial institutions? Total Age 18-24 Age 25-34 Age 35-44 Age 45 or above 81% Yes 79% Yes 77% Yes 78% Yes 93% Yes Base: All personal loan owners or intenders B5. Will you compare the personal loan features from different banks/ financial institutions? 5
and doing so online 6
Second Problem: Providers were reluctant/scared to go online, but consumers were already there Source: Bain, Customer Loyalty in Retail Banking 2015 7
Third Problem: Internal challenges Common reasons behind this: 1. Lack of in-house expertise 2. Cost cutting 3. Difficulties in getting internal buy-in 4. Antiquated tech systems 5. Misconceptions about what can and can t be done online 8
2. How MoneyHero.com.hk Helps Consumers and Providers 9 9
How MoneyHero.com.hk helps consumers THE PROBLEM There is no one-stop solution on- or offline for all financial products, making finding the right product at the right price both difficult and time consuming There is no independent platform for financial advice Lack of information means customers often choose the wrong product for their needs MoneyHero.com.hk PROVIDES THE SOLUTION By using our comparison tables, consumers save time and money in finding the best products for their needs Consumers receive independent advice from a trusted source Conveniently access a wide variety of financial and mobile/broadband products in one place 10
How MoneyHero.com.hk works with providers THE PROBLEM Current incentive structures of providers, result in poor-quality customers, often taking out unsuitable products Acquiring new customers is an expensive process, but value is limited as they can acquire the wrong customer Competitive market means ever increasing customer acquisition costs, but with decreasing value from those customers Providers try new, high risk concepts with little ability to test what works or not MoneyHero.com.hk PROVIDES THE SOLUTION Providers lower their acquisition cost Improve customer quality and retention Reach massive numbers of new consumers Gain valuable market insights Fail fast and fail cheap 11
12 12 3. Our Platform
BANKING: Matching consumers with the right product, and providers with the right consumer Personalised Search Personalised Results Apply Instantly Benefits to Consumers & Providers Better matched consumers and providers Better customer insights, through which products can be improved Improved competitive landscape for banking products. 13
INSURANCE: Taking the pain away from purchasing insurance Personalised Search Personalised Results Purchase Instantly Benefits to Consumers & Providers Better matched consumers and providers Better customer insights, through which products can be improved Improved competitive landscape for insurance products 14
Thank You! 15 15