Research
Fintech & Digital Financial Services in Emerging Markets
Building successful fintech products in emerging markets requires more than copying models from developed economies. Market structures, regulatory frameworks, consumer behaviour, and infrastructure maturity vary widely—and small misjudgements can derail even well-funded initiatives.
Market Research for Fintech
We support founders, financial institutions, investors, and development partners with rigorous market research and competitive analysis, tailored specifically to digital payments, mobile money, agent banking, and platform-led financial services across emerging markets. Our work translates complex, fragmented ecosystems into clear strategic insight—helping clients decide where to play, how to compete, and what to build. We deliver ground-up market intelligence that reflects on-the-ground realities rather than surface-level statistics.
What We Analyse
Digital Payments & Mobile Money
- Market size and transaction volumes (P2P, merchant payments, bill pay, remittances)
- Role of mobile wallets vs bank-led payment rails
- Interoperability, pricing caps, and scheme incentives
Banking & Financial Access
- Bank account penetration vs wallet adoption
- Agent banking coverage and rural–urban splits
- SME access to credit, float management, and cash dependency
Consumer & Merchant Behaviour
- Cash usage drivers and resistance to digitisation
- Trust, UX, and onboarding friction
- Merchant acceptance economics and MDR sensitivity
Infrastructure & Enablers
- SIM penetration, smartphone adoption, data costs
- National payment switches and real-time settlement systems
- Identity, KYC, and e-government integrations
Our outputs combine data analysis, expert interviews, regulatory review, and field-level insight, ensuring conclusions are practical—not theoretical.
How We Map the Landscape
Understanding competition in emerging-market fintech requires looking beyond logos and market share. We assess power, incentives, and structural advantages across the ecosystem.
Player Segmentation
- Mobile Financial Services (MFS) operators
- Banks and bank-led digital channels
- PSPs, aggregators, and merchant acquirers
- Global schemes, processors, and infrastructure providers
Business Models & Economics
- Revenue drivers (float, fees, interchange, subsidies)
- Cost structures and scalability constraints
- Unit economics across customer segments
Go-to-Market Capabilities
- Distribution reach (agents, merchants, partners)
- Sales force effectiveness and onboarding speed
- Partnerships with telcos, banks, and government entities)
Regulatory & Structural Positioning
- Licensing regimes and compliance burden
- Regulatory arbitrage and barriers to entry
- Government and central-bank influence on market outcomes
We synthesise this into clear competitive positioning frameworks, highlighting:
- Who is winning—and why
- Where incumbents are vulnerable
- Which strategies are defensible vs easily replicated
Use Cases
Our research supports decisions such as:
- Market entry and country prioritisation
- Product design and feature sequencing
- Pricing, incentive, and subsidy strategy
- Partnership vs build vs acquire decisions
- Investor due diligence and commercial validation
Whether advising a global payments company entering Africa, a bank modernising its digital channels, or a fintech scaling across South and Southeast Asia, our work provides a fact-base decision-makers can trust.
Why Clients Choose Us
- Emerging-market depth, not generic consulting playbooks
- Fintech-native understanding of payments, banking, and regulation
- Strategic clarity, not just data dumps
- Outputs designed for boards, investors, and regulators, not just internal teams
Let’s Talk
If you are exploring a new market, evaluating competition, or testing the viability of a fintech strategy in an emerging economy, we would be pleased to support you.