A technology provider devised a bespoke solution for a major banking corporation looking to satisfy the needs of a major corporate client. The provider wanted to determine whether the solution would have an appeal for other potential clients and should therefore be further developed for the wider market.
However, the provider did not wish to engage in market facing research and recognised the value of appointing subject matter experts. They needed expert consultants to critique the current offering, interview banks and other financial providers and report back with advice as to whether the proposition should be further developed.
TAN was required to provide its own critique and conduct interviews with the transaction banking and supply chain finance leaders from a selection of global, regional and local banks and non-banks to determine whether the solution;
- Was fit for purpose
- Was competitive or complimentary to other solutions already existing in the marketplace
- Met such customer needs that a bank or financier would feel compelled to invest in adopting and integrating the solution into their existing infrastructure
- Could be offered as is or would require further development
HOW WE HELPED
As subject matter experts, Trade Advisory Network works closely with the potential clients the technology provider was looking to market to, and therefore could conduct insightful and practical research on their behalf.
Trade Advisory Network critiqued the product using its market insight presented constructive feedback to the tech provider.
This was furthered with tailored interviews and feedback from a selection of different banks and other financiers. All parties were anonymous in this process, ensuring candid evaluation of the market need with no pre-conceived views of the provider. Due to TAN’s connections, each focus group involved senior executives from banking and financial institutions, ensuring that insights were from the decision makers of each potential client.
This research was broken down and presented back in a report that offered recommendations as to the marketability of the solution and the steps required for the technology provider to further develop its offering.