Case Study
Wholesale lending transformation delivery and a case of product improvement
Transformation | Banks & Fintech | London
The Background
- Global bank with a strong European base in wholesale lending business needed to digitalise its front-to-back business processes with built-in workflow
- NextWave provided key SME skills to support Head of Commercial, Lending Strategy Europe (fintech solution provider) with scope of business requirements
- NextWave was also engaged to lead the implementation of their highly customisable product offering
The Challenge
- The bank had similar ongoing projects creating duplication of effort
- Adapting to a very specific flavour of agile and ‘new ways of working’
- Lack of clarity in direction and feature prioritisation
- Misguided expectation on maturity of tech stack vs what was contractually offered
The Approach
- Adapting to new environment and setting clarity on transformation goals
- Identifying affected stakeholders and scoping real requirements vs expectation
- Identified potential partnership for product development while working with various change leads across the program
- Implemented outcome driven sprints with clear definition what is considered ‘completed’
- Clear implementation roles and responsibility across all parties involved
The Impact
- Achieved one clear plan for all impacted parties
- Quick turn around on agreed MVP definition and post go-live scope
- Initiatives prioritised, reduced duplicate efforts and achieved automation
- Improved client engagement of product development and sales team
- Positive feedback from stakeholders on scoping workshop, MVP planning and future road map
- Engagement extended from an initial period of 6 months to 21 months
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