Week 42 – Returning to the customers

Key activities this week included

  • continuing work on our prototype, which was a good step in visualising the plans for our product.
  • presenting our work to the rest of the course, and gaining some valuable feedback from course personnel and students alike
  • working on some market research to better understand what our potential customers want, as inspired by Friday’s lecture


The case of Mondays (Monday 23.10)

All of our team members had an extremely intensive week (which for some, felt like hitting a wall), which resulted in a shortage of people during our Monday meeting. We didn’t let this disturb ourselves, and used the time to distribute the workload according to everyone’s knowledge and interest, which were completed whenever we had time.

That’s the great thing about a good team, however. Situations come up where other people than those normally in charge need to step up to the plate and take control of what is happening, and our team had no problem doing that. The remainders of our team carried on with our market research project, and we were able to finish it in time for the deadline, just as planned.



Presentation day (Friday 20.10)

On Friday morning, we presented our project to other teams and also had a chance to see other presentations. The presentation started at 9:15 and we gathered together at 8 to practice. Presentation went really well and we received a lot of constructive feedback. It was a bit unclear for some members of the audience what PSD2 means in practice, but due to the obvious time constraints of the presentation event and since the concept was explained in the previous presentation, we decided to leave this part out. We also received a comment about being more specific about our customer segmentation so that we can build our platform accordingly. For some people, it was also a bit unclear what is our customer value proposition for different sides of our platform, and we probably should have been more clear when describing that. We also received a lot of good feedback about our prototype, but there was also a concern that it might b a bit too detailed in order to give us unbiased feedback about our concept. Right now our main concern should be validating the concept in abstract level, and then we will iteratively focus on more detailed features.


After the presentation, we started planning our second customer interview round, where we utilised our prototype. We took the feedback into account and designed the questions in a way that focuses on higher level features of a loan- or investment service in more general sense. Each of us then interviewed five potential customers. This allowed us to understand our customers’ needs a lot better. Below are the questions and structure of our interviews.


Returning to the customers:

Not to get too attached to our own idea, we returned to interview our potential customers. This time we wanted to know what was really important for them and how did they feel about the prototype. 

The prototype caused some controversy. Almost everyone liked the option of getting automatic notifications to invest their money (Hooray!), making us confident that PSD2 might open up some nice opportunities. Not all of the possibilities were seen as great – Getting a automatic notification to borrow money was seen as sketchy feature. And this was mentioned in reasonable amount of answers. And so it is looking like we will drop the idea of topping up your account automatically, at least until we come up with a way to make it make more sense to our customers.

Other notable problem we encountered was that people mostly preferred to borrow money from companies. This is something we don’t yet have a clear plan for, and this is definitely something that we have to tackle on the coming week. How does one provide the security of a company, but market yourself open for everyone?

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