Case Study: Internet Banking

Platform

Prepared by Sridhar Talagadadeevi

Case study Outline
Table of Contents
Case Study: Internet Banking Platform....................................................................................................1
Case study Outline...................................................................................................................................2
1. How this business challenge / Need can be converted to product (Ideation to production)............3
a. Idea generation (Ideation)...................................................................................................................3
b. Product definition................................................................................................................................4
c. Prototyping..........................................................................................................................................4
d. Initial design.........................................................................................................................................5
e. Validation and testing..........................................................................................................................6
f. Commercialization................................................................................................................................6
2. Solution Architecture including technical architecture (both component level and deployment)....7
3. Engineering practices including CI CD...............................................................................................7
4. Development methodology.............................................................................................................7
5. Quality Strategies.............................................................................................................................7
6. Estimates, Resource Plan and staffing model...................................................................................7
7. Governance Approach.....................................................................................................................7
8. Engagement Type and Costs............................................................................................................7
9. Risks / Constraints/ Dependencies...................................................................................................7
10. Provide insights about the end customer and how the solution proposed serves their needs.....7
11. Data compliance rules and policies should be according to local governance regulations. More
than 1 year data cannot be archived........................................................................................................7
12. Increased performance speed......................................................................................................7
 1. How this business challenge / Need can be converted to product (Ideation
to production)

The product life cycle define in the different six phases. These phases will help in
successfully launch your next product.

a. Idea generation (Ideation)

The initial stage of the product development process begins by generating new
product ideas. This is the product innovation stage, where brainstorming product
concepts based on customer needs, concept testing, and market research.

The following factors when initiating a new product concept:

o Target market: Target market is the consumer profile to build product for.
This is important to identify in the beginning so to build product concept
around target market from the start.
o Existing products: Evaluate existing product portfolio.
 Are there existing products that solve a similar problem?
 Any competitors offer a product that doesn’t allow for market share?
And if yes, is new concept different enough to be viable?
o Functionality: List of functions which are required to purchase the product.
o SWOT analysis: Analyze the product strengths, weaknesses, opportunities,
and threats early in the process can help to build the best version of new
concept. This will help to solves a market gap.
o SCAMPER method: Use brainstorming methods like SCAMPER.
 Substituting
 Combining
 Adapting
 Modifying
 Putting to another use
 Eliminating
 Rearranging product concept.
To validate a product concept, consider documenting ideas in the form of
a business case. This will allow all team members to have a clear
understanding of the initial product features and the objectives of the new
product launch.
 b. Product definition
Define the product scope or concept development, and focuses on refining the
product strategy. It is important to define specifics including:
o Business analysis: A business analysis consists of mapping out distribution
strategy, ecommerce strategy, and a more in-depth competitor analysis.
The purpose of this step is to begin building a clearly defined product
roadmap.
o Value proposition: The value proposition is what problem the product is
solving. Consider how it differs from other products in the market. This
value can be useful for market research and for developing your marketing
strategy.
o Success metrics: It’s essential to clarify success metrics early so to evaluate
and measure success once the product is launched.
 Are there key metrics to look out for? These could be basic KPIs like
average order value, or something more specific like custom set
goals relevant
o Marketing strategy: Once you’ve identified your value proposition and
success metrics, begin brainstorming a marketing strategy that fits your
needs. Consider which channels you want to promote your product on—
such as social media or a blog post. While this strategy may need to be
revised depending on the finished product, it’s a good idea to think about
this when defining your product to begin planning ahead of time.
Once these ideas have been defined, it’s time to begin building your minimum
viable product (MVP) with initial prototyping.
c. Prototyping
During the prototyping stage, your team will intensively research and document
the product by creating a more detailed business plan and constructing the
product.
These early-stage prototypes might be as simple as a drawing or a more complex
computer render of the initial design. These prototypes help you identify areas of
risk before you create the product.
During the prototyping phase, you will work on specifics like:
 Feasibility analysis: The next step in the process is to evaluate your product
strategy based on feasibility. Determine if the workload and estimated timeline
are possible to achieve. If not, adjust your dates accordingly and request help
from additional stakeholders.
 Market risk research: It’s important to analyze any potential risks associated with
the production of your product before it’s physically created. This will prevent the
product launch from being derailed later on. It will also ensure you communicate
risks to the team by documenting them in a risk register.
 Development strategy: Next, you can begin working through your development
plan. In other words, know how you’ll be assigning tasks and the timeline of these
tasks. One way you can plan tasks and estimate timeline is by using the critical
path method.
 MVP: The final outcome of the prototyping stage is a minimum viable product.
Think of your MVP as a product that has the features necessary to go to launch
with and nothing above what’s necessary for it to function. For example, an MVP
bike would include a frame, wheels, and a seat, but wouldn’t contain a basket or
bell. Creating an MVP can help your team execute the product launch quicker
than building all the desired features, which can drag launch timelines out.
Desired features can be added down the road when bandwidth is available.
Now it’s time to begin designing the product for market launch.
Read: Stage Gate process: How to prevent project riskCreate a product
development template
d. Initial design
During the initial design phase, project stakeholders work together to produce a
mockup of the product based on the MVP prototype. The design should be
created with the target audience in mind and complement the key functions of
your product.
A successful product design may take several iterations to get just right, and may
involve communicating with distributors in order to source necessary materials.
To produce the initial design, you will:
 Source materials: Sourcing materials plays an important role in designing the
initial mockup. This may entail working with various vendors and ordering
materials or creating your own. Since materials can come from various places, you
should document material use in a shared space to reference later if needed.
 Connect with stakeholders: It’s important to keep tight communication during the
design phase to verify your initial design is on the right track. Share weekly or
daily progress reports to share updates and get approvals as needed.
 Receive initial feedback: When the design is complete, ask senior management
and project stakeholders for initial feedback. You can then revise the product
design as needed until the final design is ready to be developed and
implemented.
 Once the design is approved and ready to be handed off, move onto the
validation phase for final testing before launching the product.
e. Validation and testing
To go live with a new product, you first need to validate and test it. This ensures
that every part of the product—from development to marketing—is working
effectively before it’s released to the public.
To ensure the quality of your product, complete the following:

 Concept development and testing: You may have successfully designed your
prototype, but you’ll still need to work through any issues that arise while
developing the concept. This could involve software development or the physical
production of the initial prototype. Test functionality by enlisting the help of team
members and beta testers to quality assure the development.

 Front-end testing: During this stage, test the front-end functionality for risks with
development code or consumer-facing errors. This includes checking the
ecommerce functionality and ensuring it’s stable for launch.

 Test marketing: Before you begin producing your final product, test
your marketing plan for functionality and errors. This is also a time to ensure that
all campaigns are set up correctly and ready to launch.
Once your initial testing is complete, you’re ready to begin producing the final
product concept and launch it to your customer base.
f. Product Launch
Now it’s time to commercialize your concept, which involves launching your
product and implementing it on your website.
By now, you’ve finalized the design and quality tested your development and
marketing strategy. You should feel confident in your final iteration and be ready
to produce your final product.
In this stage you should be working on:
 Product development: This is the physical creation of your product that will be
released to your customers. This may require production or additional
development for software concepts. Give your team the final prototype and MVP
iterations to produce the product to the correct specifications.
 Ecommerce implementation: Once the product has been developed and you’re
ready to launch, your development team will transition your ecommerce
materials to a live state. This may require additional testing to ensure your live
product is functioning as it was intended during the previous front-end testing
phase.
Your final product is now launched. All that’s left is to measure success with the
initial success metrics you landed on.

2. Solution Architecture including technical architecture (both component

level and deployment)
3. Engineering practices including CI CD
4. Development methodology
5. Quality Strategies
6. Estimates, Resource Plan and staffing model
7. Governance Approach
8. Engagement Type and Costs
9. Risks / Constraints/ Dependencies
10.Provide insights about the end customer and how the solution proposed
serves their needs
11.Data compliance rules and policies should be according to local governance
regulations. More than 1 year data cannot be archived.
12.Increased performance speed