Finstro provides a simple line of credit for small to medium sized businesses (SMEs) to help them trade and grow. With a revolving line of credit on both sides of the ledger, advanced debtor and risk management software, and integration to cloud accounting, Finstro’s proprietary platform provides frictionless trade finance and total control of cashflow to Australian businesses.
Finstro have been developing a virtual and physical B2B Corporate Card solution for approximately 2 years. The objective of the new product is to provide the current SME client base with an additional and convenient way to use the credit facilities they have with Finstro, and to open up new addressable market segments. Finstro conducted an iterative planning, research and development process that continued throughout the project. Finstro used several methods and methodologies throughout the research, planning development phase that evolved from simple guerrilla testing to professional survey and focus group work as the initiative evolved.
Finstro partnered with Visa in Australia and the USA to develop a virtual and physical Corporate Card. Finstro now has a globally relevant solution which addresses a market need – being a convenient, accessible and flexible B2B card-based payment solution for SME businesses. Finstro has delivered this with proprietary technology and internal resources. The initiative now positions Finstro with a strong growth pillar and very significant point of difference in the marketplace.
Finstro’s financial advisers and shareholders have provided strong support for the initiative and a benchmarking study suggests that their enterprise value will rise dramatically as a result of the initiative opening up new addressable markets both within Australia and globally. Finstro has now demonstrated its ability to develop proprietary technology to build products that solve a market need, and which will get rapid customer adoption.