- Completed a tech due diligence for their investor.
- Stayed on to develop a modernization strategy to digitize their mostly manual processes
- Designed a software platform that would allow them to add new products rapidly and increase customer stickiness.
- Built their next generation software platform that helped transformed them into a 'FinTech' company.
- As a result,
- They are now valued as a 'tech company' instead of a 'services company'
- Reduced their customer onboarding time by 80% and scaled their account management team by 5x.
- Offered APIs as a product that enabled them grow and increase customer retention
- Expanded their account management team's span of control by 75%
- Reduced compliance and security costs by 68%
- Reduced fraud costs by 85%
- They now operate as a tech-first company and continue to work on their next 5-year roadmap that includes machine learning solutions
Having been in business for over 20 years they had been successful in what they do and their customers loved them. Their internal process and tools had a legacy of highly manual paper-based processes. They also had built several siloed systems for specific customer use cases that were very basic.
With the rapidly evolving market, competition from the next generation of FinTech players was becoming intense and they had to scale fast and change the way they work.
As a result, they engaged us to develop a modernization strategy and build their next-generation platform.
We studied their business and reframed the problem statement based on years of studying the FinTech space. We developed their technology roadmap based on the reframed problem statement. The strategy was a combination of the build + buy approach.
- Capture their thought leadership and differentiation by building a platform which will become their system of record.
- Buy and integrate best of breed solutions using a software supply chain approach.
- Automate their account management functions.
- Seamlessly integrate their back office functions including sales, accounts receivable and finance functions.
- Implement an analytics solution to use the data from their systems of record to create near real time dashboards and reports.
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...thinkbridge helped us discover new tech-enabled opportunities that we never knew existed and along the way they also helped modernize our business...
Founder and President
Their core platform that we built is now their operating system and the number of users has grown by 600% since launching supporting over 4500 customers and their users.
The platform is PCI Compliant and our client is able to launch innovative products into the prepaid card market quickly. They are also able to compete with much larger players and win deals due to the configurability of the platform.
Their next phase is expanding their platform and mobile apps into new markets with innovative solutions for the prepaid market.
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