You can review our project for inspiration.

Building Innovation Capabilities

Challenge: Our team was tasked with building innovation capabilities for a UE-based fintech company. This Financial Services Company, once a leader in price comparison services for finance, insurance, and energy, had lost its position to new entrants, primarily due to recent complacency.

The initial focus was on transforming the Product Team to become more agile, innovate systematically, and bring successful products to market in a timely manner.

Approach: We employed the Design Thinking methodology. Initially, we focused on the As-Is state to identify current issues at the process, structure, and personnel levels. We then created the To-Be state to solve problems and generate short-term wins and long-term value.

Throughout the process, we collaborated with a diverse team from six different business functions. This approach proved tremendously valuable in aligning the team on existing problems, their root causes, and the agreed-upon solutions, gaining buy-in for execution.

Results: As a result of the transformation project, the Product Team embraced Design Thinking as a front-end innovation process, covering empathy and problem statements, ideation, and testing prototypes. This established a common language and framework for innovation.

Combined with the transfer of expertise in innovation tools and methodologies, skills development, and changes in organizational structure, this helped the Product Team develop internal innovation capabilities. They focused on maximizing opportunities and achieving a faster time-to-market.

Within one year, the significant value created for customers at the product and customer experience levels allowed the company to regain its position in the market. Additionally, employee motivation increased, resulting in a 20% boost in productivity and a 45% reduction in turnover.