KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES

Metropolitan makes a bold stride with GetUp: a new offering aimed at younger consumers

04 August 2020 Metropolitan
Peter Tshiguvho, CEO at Metropolitan

Peter Tshiguvho, CEO at Metropolitan

Metropolitan is introducing a unique offering to the market: GetUp, a new arm of its business, will offer innovative financial solutions geared towards a younger, digitally-savvy consumer.

Explains Peter Tshiguvho, Chief Executive Officer at Metropolitan: “Our core client base tends toward a mature demographic, comprising of those who are more established in their lives, with extended families to support.

“GetUp was born out of Metropolitan’s desire to engage with a younger consumer, whilst not alienating our core client base, who we remain committed to serving. Tshiguvho points out that as Metropolitan has been a trusted name within the communities for generations, its vision for GetUp is that this new offering will be there for the generations to come.

“Our objective was to see the financial inclusion of young people, so that they would be empowered with relevant financial solutions that would set them on the path to future success.”

Operating as a start-up within an established business, GetUp is a platform that collaborates with various partners to bring a tailor-made set of solutions to its market. “It’s an agile small business, benefitting from its association to a strong mother brand.

“While able to tap into the resources and expertise within the Momentum Metropolitan stable, GetUp was positioned from inception as an independent entity, with its own distinct footprint.

“This was a strategic decision: we needed space to explore this territory, and the opportunity to test solutions within a new consumer segment.”

Tshiguvho explains that time was taken to study the intended consumer base, in order to better understand their lifestyles, needs and real-life challenges. “There is no one-size-fits-all approach when it comes to developing products that aim to provide genuine solutions; it is critical that they be designed around the needs, preferences and life stages of the individual.

“We thus conducted a deep-dive into our target market, drawing from anthropological and ethnographic research, global and local trends and behavioural patterns as well as quantitative data. This depth of insight provided a strong foundation, which enabled us to invest in appropriate capabilities.

“Importantly, this time also empowered us to build relevant and innovative solutions, as well as a strong brand identity, which consumers can connect with.”

GetUp will focus on scaling and expanding its offering, while continuing to develop its suite of solutions. “We’re excited to officially introduce GetUp to the market, and are confident that it will add value to the lives of young South Africans,” says Tshiguvho.

Quick Polls

QUESTION

Financial behaviour experts suggest that today’s risk modelling methodologies ignore your client’s emotional ability / behavioural capacity. What are your thoughts on spicing up risk profiling tools to make allowance for your client’s financial behaviours

ANSWER

[a] Bring it on; my client’s make too many irrational financial decisions
[b] Existing risk profiling tools are adequate
[c] Risk profiling tools should be based on the model / rational client
[d] The perfect risk profiling tool is science fiction
fanews magazine
FAnews April 2021 Get the latest issue of FAnews

This month's headlines

Randsomware attacks... SA businesses' biggest risk
Know the difference - compliance vs ethics
Better business by virtue of Beethoven
The future of vaccines
Harmonisation of retirement funds
Call centres and the maze of auto-prompts
The next 18 to 24 months are going to be tough
Subscribe now