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Get is bringing neobanking to Asia's financial newbies

Post by
Sarah Lee
Get is bringing neobanking to Asia's financial newbies

In Chapter 1, Get was gained unfair advantage via large proprietary insight to the Why Now, and a launchpad of 370,000 users, as well an on-going acquisition funnel. The reason they have this is by becoming a category leader for Clubs on campus solving money management (removing cash & excel). For example, each club would have a payments from a group of members and they would have 10,000 conversations with users spanning 5 countries. Today, the resulting transformation, experience and product, combined with technological, consumer expectation and regulatory shifts. leads them to announce their next release.

Starting niche

Today, Get has a legally compliant neo-bank which has proven to solve young people's needs in invite only, and closed user groups, connected with interbank rails, card schemes, international networks. The purpose of it's existence is to solve money clarity, improved financial literacy and providing you the best rates. For example, it's strength is by being a 'bank' that lives 100% on the cloud and on your phone, it can focus on being the best current account region-wide whilst offering the best products in the market. As a result, Get solves the user's needs of loving their bank experience, staying in control of their spend seamlessly and accessing the best product's in the market.

Launching in Singapore first

Quantitatively, users are frequently using Get 3 times/week, a dau/mau ratio of 90% and a 90% retention rate. For measuring growth opportunity, 100 cards have been exhausted, with a demand of 8,735 on a waiting list. Indicatively, a user will generate (ARPU) $120 USD/year.

Eyeing Asia market

If all goes well in 5 years, Get would have become the financial control centre for 200M young consumers in Asia's pre-jobber market at the minimum. (avg worth $1-10k in market value per customer). Reason being having a product build, regional partnerships ready, a bank-grade but seamless KYC, and a brand ready to run. For example, it's model is 100% cloud based without being the main provider, like Grab for taxi, Netflix for licensed content, Spotify for licensed music. For immediately in summary, over the next year, if goes well, Get would reach it's million customers across the region. Today, Get is looking for partners to help it's growth & reach it's mission across the region.