Procco Financial Services is a Bahrain based company providing Payment Solutions to retailers and end users. In its home market Procco is market leader with a “Sharia-proof” product, primarily targeting the Islamic markets. Given the limited volume of the Bahrain market expansion is pursued in new markets.
Booming Industries has performed a marketing research project, working closely together with Managing director Mr Yzelle De Wet.
Outcome #1: Specific Islamic markets were identified and detailed entry strategies developed.
Unexpected Outcome #2 is that the capabilities of the Procco product are THE optimal solution for Responsible lending in Western Europe and the U.S.A. A balanced proposition for these markets has been developed and Procco is now able to help Banks, Credit Card companies and Retailers grow their lending book and volume while at the same time protecting the individual end customer from taking on “unhealthy” financial responsibilities.
Identified potential profit level: close to USD 100 Million in 5 years.
Project lead: Richard Sikkel