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Financial Product Development

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33 views

Financial Product Development

Uploaded by

getu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Financial

Product
Development
Developing innovative financial products requires a rigorous
process to ensure they meet customer needs, comply with
regulations, and drive profitability. This journey involves in-depth
market research, ideation, design, and a strategic go-to-market
approach.
GM
by Getu Mamo
Market Research and Opportunity
Identification
Understand the Market Gather Customer Insights Assess Feasibility

Analyze industry trends, Conduct surveys, interviews, and Evaluate the technical, regulatory,
competitor offerings, and customer focus groups to deeply understand and financial feasibility of potential
pain points to identify untapped the target audience's needs and product ideas.
opportunities. preferences.
Product Ideation and Concept Development
Ideation Concept Selection
Generate a diverse range of product concepts through creative Choose the most promising concept(s) to move forward with
ideation sessions. further development.

1 2 3

Concept Evaluation
Assess each idea based on criteria like market fit, profitability,
and competitive advantage.
Product Design and
Prototyping
User Experience Technical
Specifications
Design an intuitive and
engaging user experience Develop detailed product
that addresses customer specifications, including
pain points. functionality, security, and
scalability requirements.

Prototyping
Build and test prototypes to validate the product concept and
gather feedback.
Regulatory Compliance
and Risk Management
1 Regulatory 2 Risk Assessment
Alignment
Identify and mitigate
Ensure the product potential risks, such as
design and features operational, financial, and
comply with all relevant reputational risks.
financial regulations and
industry standards.

3 Compliance Controls
Implement robust compliance controls and monitoring
systems to maintain ongoing adherence.
Pricing and Profitability Analysis

Pricing Strategy
Determine the optimal pricing structure based on market factors, customer willingness
to pay, and desired profit margins.

Profitability Modeling
Develop comprehensive financial models to forecast the product's revenue, costs, and
overall profitability.

Cost Analysis
Analyze all associated costs, including production, marketing, and operational
expenses, to ensure a viable business case.
Launch and Go-to-Market
Strategy
Marketing Campaign
Develop a targeted marketing strategy to effectively
promote the new financial product to the target audience.

Distribution Channels
Identify and leverage the most appropriate distribution
channels, such as online platforms or physical branches.

Product Rollout
Execute a carefully planned product launch, including staff
training, customer onboarding, and ongoing support.
Post-Launch Monitoring and Iteration
Key Performance Indicators Customer Feedback Competitive Landscape

Closely monitor product usage, Gather and analyze customer Stay informed about competitor
customer satisfaction, and feedback to identify areas for activities and industry trends to
financial performance. improvement. adapt the product accordingly.

Continuously iterate on the product based on performance data, customer insights, and market changes to ensure
the financial product remains relevant and competitive.

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