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Questions and Answers
What is the business model of Floa?
What is the business model of Floa?
- Generate profit at all cost (correct)
- Offer financial assets
- Acquire other banks
- Provide customer service
What is one of the weaknesses of Floa?
What is one of the weaknesses of Floa?
- Low satisfaction rates
- High cost of change (correct)
- Seamless experience
- Wide variety of payment options
What is the primary reason for BNP acquiring Floa?
What is the primary reason for BNP acquiring Floa?
- To increase customer satisfaction
- To offer more payment options
- To generate profit (correct)
- To reduce default rates
What is one of the advantages of Floa?
What is one of the advantages of Floa?
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What is the primary concern regarding Floa?
What is the primary concern regarding Floa?
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Study Notes
- Floa is a customer bank, positioning themselves as a provider of financial assets to generate profit at all cost.
- Their business model is further confirmed when BNP acquired Floa in 2021.
- Floa is perceived as cheaper but their default rates are high and they use dumping strategies to cover up this.
- At Alma, Alma care about cost but Alma also believe in value, delivering higher conversion rates and a seamless experience for you and your clients.
- Floa’s Almaaknesses are high cost of change and waste of time for merchants, complex implementation and setup, and lack of payment options that make Amex cards not accepted.
- Floa offers low prices and a wide variety of payment options to keep up with customer needs.
- Floa has high satisfaction rates and is considered one of the best service providers in the market.
- However, there are some concerns regarding transparency and their use of dumping strategies to cover default rates.
- Despite these concerns, Floa remains a strong player in the market and has the potential to grow even further.
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