Case Studies

Analysing a New IT Product for a Bank

CHALLENGE
A client — a local bank — had old-fashioned offline software that used for its business clients for managing accounts remotely. A legacy IT-product required a complicated installation on a customer’s computer, setting up complicated software for data protecting and adjusting security settings.

The bank’s customers asked them to modernize the accounting system but the bank had no experience in interviewing clients, gathering requirements, and had never used Customer Development. The bank’s owner wanted to be sure that a new IT-product would achieve his business goals, so project managers from the bank asked Byndyusoft to create a professional strategic plan.

SOLUTION

Byndyusoft suggested creating a Product Discovery — a unique technique developed in our company. We started from Impact Mapping to identify measurable business goals.

When goals and assumptions were assembled into the mind map, we started discussing new opportunities and requirements face-to-face with the bank’s clients. At the interviews, we encountered obstacles in the legacy system and collected fresh insights about a new IT-product.

In collaboration with the bank’s managers, a technical support team, and based on the client’s feedback, we built Customer Journey Mapping and User Story Mapping.

We prepared a document for the top managers and an owner who should approve or reject the idea about creating a new IT-product.

RESULTS

We made up and printed a booklet with analysis results:

  • Formalized business goals and assumptions.
  • Requirements that are based on marketing research and interviews with the bank’s key customers.
  • User Interface designs for the main screens.
  • Time and cost estimations.
  • Development plan split into iterations.

After a presentation of our results to the bank’s top managers and an owner, they approved our strategy and signed the document. Now, a new IT-product is included in the budget plan this year. We’re going to join the bank’s IT-team and develop this product as an outsource company.

Only 1 presentation
was enough to convince the top managers
3 weeks
for the entire process
8 key clients
were involved in the interviews
Product Discovery · Banking · Analysis
SHARE