Digital Payment Service Optimized Their Strategic Roadmap with 2D-Max-Diff

Our FinTech client, a peer-to-peer (P2P) digital payment service provider, has become a serious threat to traditional (banking) institutions. It needed to better understand their customers’ needs, uncover ideas with true business potential and if and how their potential differs or shares similarities across their customer segments.

In essence, they wanted to create a strategic feature roadmap which would guide the development of their future R&D and marketing strategy, but focus on those features that have high usage potential and translate into higher monetary value.

After careful examination and understanding of all the intricacies and challenges our FinTech client faces, TRC employed its latest development technique—Two-Dimensional Max-Diff (2DMD). Our 2DMD product is able to evaluate each feature offered by the digital payment service provider on two dimensions instead of just one, which makes the process more efficient and more useful to our client.

Our goal was to identify needs and prioritize ideas across 4 key “go-to-market” criteria (dimensions):

Consumer needs:

1/ Do consumers have a need for the feature?

2/ Will they use the feature?

Market factors:

3/ Are consumers dissatisfied with competitive features?

4/ Does the feature fit client’s brand?

Based on the results of the two 2DMD exercises, the winning features and ideas were identified and developed into concepts that were later evaluated in a separate concept test.

Our FinTech client was able to develop a cohesive short-term and long-term strategy that incorporated the winning features and new ideas and prioritized those with the highest monetary potential for their key segment.