Define, build, launch and scale digital products fast
Today’s ever changing financial services environment is full of competition from incumbents to new players such as startups, challenger banks and fintechs. In a market where customers are looking for the best, most innovative, personalised and easily accessible products and solutions, competition is fierce. This leads many to question: “How can you efficiently design, build, launch and scale products that customers want and create value for your business?”
At Capco, we believe in an agile product delivery approach, with 4 key phases: definition, proposition, implementation, and evolution.
During the definition and proposition phases, we help our clients define products by applying ‘design thinking’ best practices. Then, during the problem-solving phase, we focus on creative tools and processes. This approach helps us bring together what is desirable from a human point of view with what is technologically feasible and economically viable. In the process, we can also validate the product idea with the customer, to the point where we are comfortable to move to the next phase.
Our agile key focus is rapidly developing a proposition and then getting a Minimum Viable Product (MVP) launched and out to market. MVP is a development technique that ensures the inclusion of sufficient features to allow customers to get the core value of the proposition at hand.
Becoming agile is a journey that involves a change in culture. Agile Software Development and Change Management expertise is therefore essential for success. We ensure that we work hand in hand with our clients. The result is not only truly customer centric products, but also organizational developments.
The initial launch of a product is all about support, efficient deployment and customer feedback in a safe environment. By getting a product from out of the business to a group of early adopters as quickly and feasibly possible (assuming a ‘test and learn’ mindset), we can validate our product hypothesis and assumptions built at the definition phase to ensure the right customer feedback is collected. We take a scientific approach when designing our pilots and believe in using real customers in live environments, as opposed to in controlled lab environments. This allows us to efficiently evolve and adapt the product as per customer requirements.
Once it has been proven that the MVP has value - and is a worthwhile investment for the business - the product will be integrated back into the existing technology infrastructure and processes for quick and successful scalability. Rapid scalability hand in hand with effective adoption has shown to boost confidence in an organization’s established digital capabilities.
Our constant goal is to disrupt financial services for the good of the customer. By focusing on customer centricity across the end-to-end product lifecycle, we can ensure our clients’ products and processes lead to a dramatically improved customer experience.