BiD-Me is the first Fin-Tech/Reg-Tech hybrid aggregating platform that Intermediate Banks & Insuranc
BiD-Me, our online fully transparent qualified bankable lead generator platform with credit and insurance pricing auctioneering which places loan origination pricing power into the hands of the consumer whilst creating qualified bankable leads (KYC sorted by our real-time engine!) for FSP’s that would enhance their attractiveness by presenting enriched value propositions for these qualified leads, effectively activating their eco-system, at a fraction of the usual cost of customer acquisition.
BiD-Me places the consumer back in control and activates a capability to reduce the consumer’s cost of borrowing. The qualified bankable leads functionality in BiD-Me presents a uniquely cost-effective opportunity to banks as this reduces the need for costly sales teams in the new customer acquisition cycle of a FSP, which would be especially beneficial to a FSP with a Cost To Income ratio that is half of the big banks. As you’d know, the acquisition cycle for new clients has a certain churn rate with a sizable percentage not activating the new account.
Being qualified leads, the BiD-Me platform would yield a significantly higher rate of activation, expected to be at over 90%. The customer will enjoy free registration, free bidding, free product reports, and free credit scoring whilst the credit provider/bank will also enjoy several free functions as well.
BiD-Me also presents real-time RegTech capabilities which will make the compliance burden on participating banks and other credit providers much lighter due to our in-built analytics and reporting engines which can feed directly to various regulators.