Project Everest

[EXPERIMENT RESULTS] Financial Institution - Offer Test - July 2019

Reference to experiment post:


Lean Phase: UVP

Assumption: FIs operating in Fiji see value in increasing their customer base and are willing to work with PEV to do so, who will act as the bridge/middle-man between micro-businesses wanting loans and the FIs who can provide them.

Success Metric: The % of FIs who we have identified as early adopters and agree to have a meeting with PEV for further discussion in the next week.


In this experiment, we have achieved a green light as 100% of FIs we have identified as early adopters have agreed to have a meeting in person with PEV for further discussion about a solution in the next week. (Except for BSP who have agreed to a meeting over the phone due to time constraints). 


Result Spreadsheet:


Validated learning:

Results confirm that FIs are willing to work with PEV to increase their customer base. 4 of 4 FI’s who identified as early adopters have agreed to put in the effort to meet with us some time next week. Due to discrepancies in early adopter classification,the 4 FI’s that identify as the early majority were also offer tested, which were successful and4 more meetings were set up. This gives a 100% success rate, surpassing the success point of 38%. 

The successful offer test  reflects the FIs realisation that their current operations don’t attract an optimal number of customers. Initial meetings built rapport and established a platform for a future relationship that benefits both PEV and the FI. This starts the process of creating a potential pipeline for micro-businesses that want to get a loan. 


Next Move:

The call to action of this experiment is meeting FIs to discuss potential solutions and have been organised over the next week in Suva, Nadi and Sigatoka. 

Prior to attending all organised meetings with financial institutions, SoCon 1 and Socon 2 will collaborate to develop a potential MVP. The data collected by both teams will be used to inform the potential MVP. This solution will be further ideated from the feedback given by FIs and SMEs in meetings next week.

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