In order to kick off the Implementation phase, Founders Bank would require a solid plan to provide a unified strategy, value proposition, implementation roadmap and a solution architecture.
During the initial 12-week Discovery process—or digital strategy engagement—we would evaluate, workshop, research and prototype across technology, product design and product strategy. We would converge the building blocks comprising the product, describe the integration points, map out gaps, outline the customer journeys and create a cohesive picture of the initiative and next steps leading Founders Bank into the Implementation phase.
Our approach would incorporate all aspects of product strategy, product design and technology. We would need to give particular attention to rethinking KYC/AML in light of Founders Bank’s unique value proposition, as well as coming up with a scalable brand for the new venture.
To be able to execute the Founders Bank vision we needed to incorporate a combination of off-the-shelf SaaS vendors products, bespoke technology IP developed for Founders Bank, and unique operational processes, and then integrate these into a seamless world-class customer experience.
From day one, it was clear we would be working horizontally across the entire product, as well as vertically into specific features, to define a modern and robust stack. We would need to make decisions from high level infrastructure (e.g. AWS, Google and Azure) down to the specific libraries for development.
Our client was aiming to apply for a full banking license with a relatively quick turnaround, so we had to both be prepared to begin building the bank but also preparing ourselves for a regulatory deep dive. More than any other environment, an application to a central banking regulator requires that every decision we make would be traceable, defendable, backed with proper evidence and an audit trail. Being too light on documentation was not an option.