“Changing products is time consuming and expensive. We need IT involvement. We can’t react to the market quickly.”

Sound familiar?

We recently interviewed product managers from Tier 1 and 2 banks in the UK and Australia to better understand the challenges they face during the lifecycle of creating and launching a financial product.

Our research highlighted the opportunities for banks to leverage next-gen core banking technology to help meet customer needs faster and at a lower cost and to deliver a truly transformative customer experience. The findings were compiled in a whitepaper which explored:

• the challenges in successful idea generation for new products
• execution and turning a proposal into an actual product
• how to experiment with product ideas without over-committing
• the importance of doing a dry run before launching a product
• the difficulties of changing active products to keep them competitive
• effective methodologies to migrate customers between products

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