Red Badger’s John Godfrey has acknowledged that getting new digital products and propositions “into the hands of customers” can be a challenge for large, incumbent financial services organisations.
Speaking to Open Banking Expo, Godfrey, who is commercial director at Red Badger, said it can be “even harder when those new products and propositions require multiple integrations”.
He added that the most successful new products and services are those “designed with real users” in mind and that “they should continuously evolve as your customer does”.
Godfrey said that while taking this “product-led growth approach” can seem “uncomfortable”, Red Badger has formulated a “blueprint” for creating a digital product in 100 days.
According to Red Badger, digital product companies are twice as likely to outperform their competitors and achieve 48% higher revenues.
Red Badger’s approach to developing compelling digital products and experiences relies on “pioneering new ways of working” and claims it helps blue chips “transform into digital product companies almost overnight”.
In a recent Q&A with Open Banking Expo, Godfrey said: “We believe all companies are digital product companies, whether they realise it yet or not.
“The rise of the neobanks and direct-to-consumer (DTC) brands have shone a light on how customer-obsessed, product-led growth wins market share. The businesses that do this well are wired differently.”
To find out how to create a digital product in 100 days, download Red Badger’s blueprint here.
