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New Market Entry
V2X
Exploring use of Telematics in the UK
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First AML
First AML offers quick, easy and accurate ways to complete major financial transactions without fear of money laundering.
The Challenge
First AML offers quick, easy and accurate ways to complete major financial transactions without fear of money laundering.
With ambitious plans to expand, its senior team needed our help to validate the UK’s market and secure insight into their target customers’ wants and needs; developing product-market fit.
Working to a tight timeline of three months, we moved swiftly to create a report that equipped First AML with all the insights it needed to move into the UK without risk.
Quick Facts
- Website: https://www.firstaml.com/
- Industry: Regtech
- Headcount: 150+
- HQ: Auckland, New Zealand
- Founding year: 2017
- Latest funding round: $20m USD Series B Nov 2021
- Expansion priorities: Understanding target customers, validating the UK’s market, local regulatory considerations
The Approach
We hit the ground running by conducting research and reports to validate the UK market.
Importantly, this research identified attractive regulatory and competitive environments reassuring First AML’s board to invest further into the UK market.
In phase two of our approach, we turned our attention to First AML’s target customers’ wants and needs. We designed a results-driven question set, defined interview targets – approaching over 60 firms and securing 15 candidates who were the best fit – harvesting and analysing all data to create a report packed with insights and feedback.
Newfound was responsive and effective from start to finish. We had a tight timeline and needed tangible data to help us commit to UK expansion – the Newfound team ticked all these boxes and our relationship in the UK continues.
Bion Behdin | CRO
The Results
Armed with our insights, First AML has not only scaled confidently into the UK, securing seven qualified target customer leads as a direct result of our outreach, but also made a series of new hires.
Read more about First AML's UK market entry.
New Market Entry
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