Latvia
Swedbank
Swedbank is a Nordic-Baltic banking group based in Sweden. It was founded more than 200 years ago and now has around 20'000 employees and more than $376 billion US dollars in total assets. They chose Magebit as a strategic consultant on payment integration evaluation due to their extensive experience in e-commerce.
In this case study:
About the project
Swedbank is growing their presence and services offered in the e-commerce space and even though they had a payment solution for online stores for a long time, it was not widely known. Considering the vast experience we have building online stores and official payment modules, Swedbank reached out to Magebit to analyse their solution, provide market research information and in general consult on how to best grow their service.
Client Challenges
While the scope of this project was just strategic, it involved thorough research which then would take quite a long time to get moved through the complex world of banking.
- Evaluate the current solution and how it compares with the competition
- Strength and weakness analysis to narrow the focus on most impactful changes
- Typical target merchant requirement analysis
The role of Magebit
Where digital magic comes to life
We eat, live and breathe e-commerce daily. This gave us the upper hand of knowing where exactly to look for specific information and allowed us to provide high quality results in a short period of time. Our role included:
- Market analysis
Gathering information about competitors and target merchant typical needs. - Current solution evaluation
Identification of weaknesses, opportunities and changes to narrow the focus for their target merchants. - Opportunity guidance
Evaluation of effort vs impact for various opportunities to guide prioritization that takes into account the complex world of banking.
