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BFSI

Transformed A Fintech Idea to SaaS Platform with Managed Product Labs

Revolutionized the FinTech landscape by integrating a data-driven financing solution for over 100 SMEs across Southern India, enhancing their access to capital. Acknowledged by the Indian Government Startup Accelerator, this innovative platform optimizes credit decision-making through advanced technology.

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Background

A tech-first FinTech startup with a focus on innovation, this company has developed a flagship product for Business Finance. Their aim is to integrate financing seamlessly into the trade processes of small and medium businesses through data-driven decision models.

Industry : BFSI

Region : USA

Technology Stack :

Solutions categories :

Managed Product Labs
Data Transformation
product engineering

Challenges

  • The customer aimed to disrupt the Indian FinTech space with tech-enabled products but faced setbacks due to a lack of technical governance and prior product development experience.
  • Without an in-house team for product architecture and development, they recognized the need for a technology partner to enhance their product strategy and execution.
  • Key challenges identified included an unclear product roadmap, absence of exploratory exercises for integrations and data aggregation, and the lack of Agile or Lean management practices.
  • Additionally, no technical feasibility pilot projects were undertaken, which further hindered their development efforts.

Solution

  • Conducted a comprehensive Business Analysis (BA) to assess objectives, market landscape, and competition, shaping a clear MVP plan for the product.
  • Developed a product roadmap for two key release milestones, ensuring strategic alignment with business goals.
  • Executed pilot projects to integrate and optimize existing databases and API endpoints, streamlining MSME data management.
  • Designed and implemented a cloud-based data pipeline and transformations, supporting platform workflows with real-time insights from multiple data sources.
  • Built a private blockchain network for trade finance, incorporating a distributed ledger, smart contracts, and enhanced governance for secure and efficient transactions.

Impact We Created

With a pilot implementation done in three (3) states of Southern India, 100+ SMEs from different sectors have access to the capital funds to run and expand their business operations. The platform has been recognized by the Indian Government Startup Accelerator and Incubator as one of the promising products to watch out for in the year 2023. The company aims to lean more on the technology powering the platform to have a more nuanced profiling of the creditors and suitors for the parties to make faster and more informed credit decisions.

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