La Plataforma (Spring 2017)

La Plataforma is a social venture that delivers convenience and affordability to the Latin American remittance process for individuals without bank accounts. La Plataforma provides a mobile platform to send international money transfers within Latin America, particularly from Chile to Peru. Each remittance is subject to a 5% fee and converted at the real exchange rate. 

Sending international money transfers is currently only economical when sending more than $200 at one time, however this can be financially difficult for low-income individuals with less financial flexibility. La Plataforma allows low-income individuals, especially immigrants, to support their family in their country of origin by sending more affordable and convenient remittances without access to a bank account. By making it more convenient and efficient for these individuals to send money home, we hope to increase financial support, reduce poverty and promote financial inclusion throughout the region by digitalizing remittances for low-income Latino populations.

La Plataforma was founded in the US in early 2016. We are an early stage company with a minimum viable product and we are looking to build out the company’s infrastructure prior to our official launch and seed fundraising round in mid-2017. We’re currently part of the Start-Up Chile accelerator program. 

Learn more about la plataforma here: www.laplataformalatam.com

Project Outcomes

In the span of 12 weeks, the NGC consulting team has delivered the following results:

1.     Mid-term Deliverable: Key Performances Measurements (KPIs) and Market Research

a.     Developed metrics to measure the success of the La Plataforma app, including financial, usability, customer satisfaction, and marketing channel-specific KPIs

b.     Conducted benchmarking analysis based on four financial providers with regards to customer acquisition processes

c.     Defined the market size of 140 thousand Peruvian immigrants in Chile; created a profile of the target market in terms of demographic characteristics

2.     Final Deliverable: Customer Insights, Partnership Opportunities, and Best Marketing Practices

a.     Refined the metrics to measure the success of the La Plataforma app by adjusting the weighted-score criteria and added KPI ranges based on the competitive analysis

b.     Researched the immigration policies in Chile and provided the projection of 100% increase in the immigration within the next eight years

c.     Presented customer insights with regards to social media marketing based on three in-depth interviews with Peruvian immigrants

d.     Recommended potential partners for La Plataforma: four nana providers and 8 construction companies

e.     Proposed a referral program based on two successful campaigns by fintech companies and three Facebook best marketing practices from similar organisations