Case Study
Review and recommendation – advisory role for a listed financial services company
Transformation | Fintech | London
The Background
- NextWave worked with a listed financial products and services company that implements configurable lending suit of products to improve customer engagement, risk analysis and profitability optimisation in the credit life cycle
- NextWave was engaged by the global head of professional services to assess and advise on client projects that were reportedly ‘turning red’
The Challenge
- The project overran schedule, budget and scope that exceeded the acceptable tolerance limit
- There was missing criteria by which the product or service delivered could be deemed successful
- There was an absence of agreed process and eagerness to satisfy client
- There was a lack of adherence to the RACI matrix (Responsible, Accountable, Consulted, and Informed)
The Approach
- NextWave held a workshop to address concerns on the implemented solution
- We demonstrated out-of-the-box product behaviour versus configuration versus the additional development sought by the client
- Our team identified recurring themes and advised on a plan to address, action and alleviate the issues
- Test strategy and execution were improved, with clarity on necessary roles
- An executable plan was defined, with options of possible recovery and early termination
The Impact
- Scope freeze was achieved
- A high level stakeholder visibility of assumptions and decisions was provided to the client
- We helped implement a change in the governance model to improve meetings and outcome delivery
- NextWave received positive feedback from the global PS head and senior stakeholders
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