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 optimization in the credit life cycle
- NextWave was engaged by the global head of professional services to assess and advise on client projects that were ‘turning red’
The Challenge
- The project overran schedule, budget and scope that exceeded the acceptable tolerance limit
- Missing criteria by which the product or service delivered could be deemed successful
- Absence of agreed process and eagerness to satisfy client
- Lack of adherence to RACI matrix (Responsible, Accountable, Consulted, and Informed)
The Approach
- Workshop to address concerns on the implemented solution
- Demonstration of out-of-the-box product behaviour versus configuration versus additional development sought by client
- Identified recurring themes and advised on plan to address, action and alleviate issues
- Improved test strategy and execution with clarity on roles
- Defined executable plan with options of possible recovery and early termination
The Impact
- Achieved scope freeze
- High level stakeholder’s visibility to assumptions and decisions
- Agreed to disagree on high risk go-live plan and persuaded client for a plan B
- Change in governance model – improved meetings and delivery of outcome
- Positive feedback from global PS head and senior stakeholders
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