Deliver new products through customer centricity and agility
Client background & brief:
- The client is an umbrella organization for operating retail payments and settlement systems in India. It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) for creating a robust Payment & Settlement Infrastructure in India
- As a payment enabler in the market, the client wants to expand its current market space to increase awareness and usage across both assisted and non assisted payment system
- How might we design a journey for the product and technology teams to help them embrace customer centric agile practices to deliver new product MVPs, thus making agility a way of life
How did we support:
- We suggested a Design Thinking approach to get the outcome with agility and worked with the business leaders on the following activities::
- Step 1 – Setup & Planning (Objectives, Cross functional teams, Sponsor orientation, challenge identification)
- Step 2 – Design solutions through 30-week Design Thinking & Agile engagement
- Step 3 – Solution implementation using agile practices
Journey outcome:
- Simplified loan repayment, collection, RD products for various user group
- Integrated vehicle linked payment platform
- Simplified money loading for on-the-go users
- Group ticketing system
- Business payments suite for MSME
- Simplified corporate payment transaction journey
Benefits:
- Quantitative:
- Under assessment
- Qualitative:
- Increase is number of new users
- Increase in awareness of payment products
- Increase in NPS
- Increase in revenue
