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