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Background
This case study outlines the product strategy I devised for Kuda Bank, a leading fintech company that provides digital banking services across Nigeria.
For Entry-Level’s Product Management Program, I was tasked with creating a strategy for Kuda's latest debit card product – Buddy (a pseudonym), aimed at tech-savvy teenagers. The goal is to enable teenagers aged 13 to 18 to make online and offline payments without the need for a bank account, while parents could monitor the card's usage, application, funding, and transaction limits.
In this case study, you'll find the detailed product strategy I developed. It includes defining and validating the customer need, solution, and market potential, prototype ideation, crafting user stories, and prioritizing key features to build.
Actions
Assumption Mapping & Validation |Market & Competitive Analysis | User Research, Stories, and Interviews | Prototype Strategy | Feature Prioritization.
Timeline
2 weeks.
I started by clearly defining the problem I am setting out to solve. This is to understand our customer’s pain points and to figure out our unique value proposition.
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Using the Lean Mantra, I identified and prioritized assumptions about my product’s feasibility, viability, and desirability in the market.
I identified my assumptions and ranked each assumption on a scale of 1 to 10 based on: Risk - How much do I know about this? (1 - 10)
Importance - If we get this wrong, how likely will we fail? (1 - 10)
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After mapping out my assumption, I move on to prioritizing them using the Risk-Importance graph to find out the riskiest assumptions.
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The assumptions in the top right quadrant (unknown + important) are the riskiest assumptions that should be evaluated further using validation techniques. The riskiest assumptions could potentially make or break the product.
Next, I aimed to validate the market demand, identify customer problems/pain points, and assess our solution - our product.