top of page

KREDO BANK. Helping IT-specialists to manage their income wisely

Banks in Ukraine and abroad struggle to differentiate

We helped the Ukrainian branch of the leading Polish bank to develop a compelling value proposition for the lucrative customer segment

By helping IT specialists to buy their first homes, we significantly expanded the demand for the mortgages

The Challenge

  • The IT industry is growing rapidly in Ukraine year by year. There were around 250K specialists in Ukraine by the project’s launch.

  • Ukrainian IT specialists have a much higher income than average Ukrainian citizens. Thus, banks are very eager to attract them.

  • The challenge is that many banks compete for a relatively small audience. Every IT specialist is a customer of several banks. Banks struggle to differentiate their offerings to attract more IT specialists.

  • Kredo bank invited Lanka to understand the segment’s needs and design a value proposition.

Key insights

  • The team had a pre-conception that wealthy IT specialists demand premium services. That was not the case: fancy perks were not attractive to many IT guys.

  • Interviewing our segment, we saw the evolution of financial needs among IT specialists:

  • Young specialists earn much more than average Ukrainian. They would like to own an apartment and can afford a mortgage. Their problem is a lack of competence. They are inexperienced with choosing developers, apartments, and financial terms. The bank realized that the problem was a lack of knowledge, not a lack of funds.

  • Experienced IT specialists have satisfied all material needs (like a house, cars, education for kids, traveling, etc.) and struggle to find a way to invest their money. Usually, they buy more real estate.

The team

  • Consultants worked in collaboration with the x-functional Kredo team. The team consisted of the heads of the business line, risks, sales, and marketing departments.

  • Lanka facilitated workshops, prepared team members for the interviews, and advised on prototyping and testing. Due to COVID restrictions, we had to manage some workshops remotely.

  • The team from the bank performed most of the interviews and prototype tests and prepared the implementation roadmap.

The solution: do not push – create a demand.

Our interviews with young IT specialists showed that many want to buy their own apartment. Instead of selling them the product, we offered them a service: we can teach you how to avoid mistakes with their most significant purchase in your life.

Explain to young specialists how to get a loan

  • The team organized webinars for the employees of their corporate clients. The topic was “How to choose a developer and get a mortgage.” Of the audience actively enrolled for the webinar, 10% left their contact details to receive a mortgage offer.

Help young software developers to choose a real-estate developer

  • We formed a ranking of reliable developers based on open financial data. 80% of clients were interested in getting an assessment of developers by the bank

Help young specialists to compare the financial terms

  • The team developed the tool to compare the financing terms provided by developers and by the bank

The Outcome

  • The team decided to focus on the younger audience. We shifted our focus from the financial terms of the mortgage to the education of less experienced clients.

  • We designed a series of solutions that teach youngsters how to look for an apartment, choose the developer, compare financial terms, etc.

  • Kredo has changed its approach to designing new banking products and hired an in-house service designer.

Please, invite us to co-design a differentiated service for your customers.


bottom of page