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Cap1 Case Comp
- 1. Guiding the SmallBusiness Card Holder Towards A Prosperous Direction SLEEPER SQUAD
- 2. We aim toempower small businesses with data to make analytics-driven decisions. Our Mission
- 3. Executive Summary Assess theopportunity to help Small Business consumers through data sharing Disrupt the Small Business Credit Card space by providing a competitive offering and continue changing banking for good ASSESS Craft a meaningful customer experience and UI system to ensure Small Business cardholder satisfaction CRAFT DISRUP T ASSESS CRAFT DISRUPT
- 4. ASSESS CRAFT DISRUPT Compass®will leverage a modern UI system that allows Small Business Card Holders to comprehensively understand their business at a glance
- 5. Users will haveaccess to varying levels of data depending on their subscription model ASSESS CRAFT DISRUPT Performance KPIs Operational plans and budgets Results Strategic goals COMPASS® BASIC ● What we want to be ● Local market share percentage ● Updated daily ● Limited by minimum sample ● Customer insights ● Perks of previous tiers ● Updated weekly ● Compare with personal sales figures ● Limited by area (i.e. NW DC) ● Perks of previous tiers ● Average sales per location ● Updated quarterly ● Specific to Merchant Category Code ● Restricted by region (i.e. Virginia) COMPASS® GROWTH COMPASS® PREMIUM Level 1 - Free Level 2 - $60/month Level 3 - $300/month Tiered Subscription Plan
- 6. Risks & Mitigations Client ConfidentialityData Leaks/Theft Low Initial Awareness Limit Sample Size, Anonymize data, and Provide Aggregate Summaries Include NDAs in Terms & Agreements, Add-In Fortified Firewall Feature Compass on CO’s Website and Market Alongside Spark Cards RISKS & MITIGATIONS FINAL OVERVIEW
- 7. Final Overview Compass® willallow Capital One’s Small Business Card Holders to explore their company insights and bring their businesses’ prosperity. RISKS & MITIGATIONS FINAL OVERVIEW ASSESS CRAFT DISRUPT
- 8.
Editor's Notes
- #2 Today, we will be introducing a new Capital One tool that will effectively guide small businesses towards better financial decisions and greater long-term success.
- #3 The mission that we set out to achieve is to empower small businesses with easy-to-understand data that ultimately allows them to make analytics-driven business decisions. Ricky will now introduce this new tool that you’ve all been waiting on.
- #5 “Welcome to Compass”?
- #6 https://smallbusiness.com/economy/annual-median-revenue-of-small-business/ Price calculation for compass growth is median revenue for small business (100,000) * POS cost (2.7%) * value driver of data analytics (30%) divided by 12 ~ 67. Decrease to $60 to be competitive
- #7 A large risk to consider is client confidentiality. The data provided to our Compass users will use a minimum sample size to avoid direct competition between small businesses and anonymized data will allow for industry knowledge without compromising individual transactions. Obviously, there is reason to be concerned with data leaks and proprietary theft. The primary card manager will be responsible for signing a non-disclosure agreement and will have the primary login for Compass. Our product will be protected by a fortified firewall. We assume that when Compass first launches, there will be low initial awareness for our current Spark customers. The implementation plan highlighted a number of marketing strategies we plan to use to encourage current customers to use the product. Client confidentiality → mitigation: Compass will only share data above a specific sample size in order to anonymize data points and provide aggregate summaries Customers may publicize data → mitigation: NDAs must be signed by the primary card manager, limiting the access to Compass Information theft → Add-in Fortified Firewall to prevent algorithim and Proprietary information theft Low awareness →
- #8 Although there are risks to mitigate and precautions to take place, our Compass tool will allow Capital One’s Small Business Card Holders to delve deeper into their company insights, providing them with the tools necessary to bring their businesses’ greater prosperity. With Compass Premium, Cassie has been able to see more useful data about her company than ever before, capitalizing on busy hours and cutting costs where applicable. She has since expanded her business into Fairfax, Virginia, reaching a sound conclusion in Cassie’s Story.
- #9 Thank you for listening and we can now take questions!