Independer.nl 3.0: From Independent Financial Intermediary to Trustworthy Financial Manager

Independer.nl began in 1999 as a financial product comparison website to help customers make better choices by bringing transparency into the market. Within a decade, it grew into a major Dutch financial intermediary that provided not only comparison but also brokerage services. As the Dutch financial market became more transparent with the growth of other comparison websites and an increase in government regulatory policies, focusing on transparency was no longer enough for Independer.nl. Intensified competition and the adverse economic climate added to the pressure. The company needed a new business model to attract new customers and increase profits. It considered a new ‘Just Right’ model in which customers would largely allow Independer.nl to manage the customer’s financial products and make optimal choices on their behalf. Independer.nl would now aim to become a trustworthy financial manager for its customers rather than a product comparison website only. The new business model, however, was not without issues: Market positioning, customer channel mix decisions, and maintaining a strong brand image all presented major challenges for the new business model.