overview

BankIQ is a leading Fraud Risk Management and Regulatory Compliance Solutions provider helping licensed Payment Aggregators (PAs), Banks, Money Exchange Houses and other FIs streamline their Fraud Detection and Management in real-time, Anti-Money Laundering (AML) processes, and Regulatory Compliance. 

BankIQ offers Fraud-Risk solutions to safeguard transactions and enhance operational efficiency while ensuring regulatory compliance providing ML powered real-time transaction monitoring, automating compliance checks, reducing manual intervention, ensuring that businesses stay ahead of evolving new-age financial threats.

Challenge

BankIQ faces significant sales challenges due to a limited Total Addressable Market (TAM), as their focus is exclusively on licensed Payment Aggregators (PAs) in India and PAs and banks in the Middle East. Their specialized focus on this niche market means that lead generation is restricted to a universe of less than 100 companies in India and 200 companies in the MENA region.

The competition in the FRM and compliance space is fierce, particularly from established international companies that have a broader global presence and more brand awareness. 

Our Approach

We partnered with BANKiQ to drive inside sales and lead generation in India and MENA region and market their Fraud-Risk-Compliance (FRC) & Enterprise Fraud-Risk-Management (FRM) solutions.

To address these challenges, we adopted a strategic and data-driven approach:

1. Account-Based Marketing (ABM): We referred to RBIs list of licensed Payment Aggregators and licensed banks from central banks in MENA and identified their universe. 

2. Personalized Content:  We created personalized tailored content with relevant news and updates in regulatory guidelines to address the latest FRM requirements, ensuring relevance and higher engagement rate.

3. Multi-Touch Outreach Campaigns: Combining email campaigns, LinkedIn outreach, and calling, we maintained consistent communication to keep leads warm as the nurturing cycles are quite long especially in the MENA region.

4. Performance Metrics & Feedback: We analyzed response patterns and continuously optimized strategies and content to improve response rates and quality of leads.

Key Achievements

• Multiple Parallel Campaigns: We ran multiple use-case specific personalized  campaigns across the regions parallelly to ensure consistent lead-flow. 

• SQL Generation: We consistently delivered 3-4 Leads monthly from the approved account list.

• Improved Lead Quality: Our ABM strategy helped achieve an above 40% lead-to-further discussions rate, with many leads going for proposal stage, significantly above industry benchmarks. Despite the very niche TAM and extended nurturing cycles, our curated targeting, meticulous engagement and multi-point strategies ensured sustained engagement, leading to consistent SQL generation across use-cases and high-quality conversations. Through strategic alignment with BANKiQ’s growth objectives, we turned obstacles into tangible achievements.