Week 46 – It takes time for a boulder to catch speed..

This week we have:

  • Contacted FiVa and a lawyer’s office regarding the legal feasibility of our solution
  • Started creating the poster for the Grande Finale

It takes time for a boulder to catch speed..


Friday 17.11

During last week we addressed the structure and different flows (e.g. data, money) of our platform in great detail, first creating service blueprints and later various diagrams. This required going into very specific features, like payback systems and loan contracts, which raised a lot of questions in each of our group members. On Friday some of us gathered to summarize the whole service so that we could ask validation from specialists. Unfortunately, we didn’t have a common understanding of the concept, and had to go through some of the key questions again. On the other hand, this gave us a chance to reflect the decisions we made earlier, and iterate the idea. Finally, we had constructed a pretty clear concept, and written down the key questions that still needed validation. These questions included:

  • What kind of an operator are we in the financial industry?
  • Can we use social data (e.g. Facebook) to calculate the personal interest rate?
  • How should we do the contracts with the lender and investor to minimize our risk and also to gain profit from the difference between the interest rates?

FiVa ( Finnish financial supervisory authority ) has helped us earlier during the project and we prepared to contact them again via email. We see them as the most reputable source of information concerning EU-wide regulations (which we have found out to be hard to decipher). This email was drafted on Friday and sent next Monday.

In addition to discussing about the concept and validation, we checked the course schedule and final deadlines, and realized to be slightly out of schedule. Thus, we created an easy-to-follow schedule for ourselves to use for the rest of course, and highlighted the need for everyones’ effort for the next couple of weeks.


Monday 20.11

Today we gathered to create the first version of the poster for the Grande Finale. We had multiple different visions how the visual image should be constructed, so we decided to take 15 minutes to create individual sketches and compare them in a way of AB-testing. Two of the four given ideas were quite similar and looked informative, and so we decided to go to that direction. Eventually we got an unified version sketched on the whiteboard, which we can use as a base for the final poster.

We decided that we need to make one more market research, for international audience. The previous was rather informative but the feedback was almost completely collected within Otaniemi, which means that the customer base was rather homogenous (which is not ideal for this purpose). Also we decided that we’ll create more precise calculations on our profitability and needed customer base both on investor and borrower side. We have been focusing mainly on the legal and technical validation, but we want to make sure that we’ll cover also the financial validation for the project.

Since we need to have our final solution ready by next weeks’ Friday (1.12), we have around 1,5 half weeks to:

  • Validate our project from the FiVa (might be problematic, since they promise to answer within 10 days and we sent our email on Monday the 20th.)
  • Conduct our last market research
  • Refine our UI prototype and finish service blueprints
  • Summarize the whole concept, unite all the data we have gathered and generated and write it down in a comprehensive and understandable way, which will work as a basis for our presentations and final report.


This requires a lot of work, even from 6 enthusiastic students, since we all have our other deadlines and most (all?) of us have a part-time work as well. We will probably have to prioritise some aspects, and leave for example practising for the presentation and final touches to the UI prototype and poster to the week before the Grand Finale. This is the worst case scenario, but since it is also possible outcome we found relevance in bringing it up in the blog (an in order to avoid it).

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