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Developing a Digital Wallet for a Telecom Company

Case Study

MJV helped our client enter the financial services industry with a proprietary payment solution.

Industry: Telecommunications

Client: A leading international telecom company

Developing a Digital Wallet for a Telecom Company

In 2018, our client identified an opportunity to launch a new financial product, but still needed some questions answered.

This project was divided into 2 parts:

Over the course of six weeks, we went to the field to map unsatisfied needs. We came up with four ideal customer profiles according to several financial behavior variables, with which to conduct our strategic analysis and evaluation.

These yielded 16 possible journey scenarios and 30 different application features that were used to develop the final digital wallet solution.

During the development phase, MJV reported directly to the parent company's managing partner. We made a classic agile squad, responsible for the back-end development, the entire user journey construction, and the design of the digital wallet.

During development, we mapped out nine key functionalities based on feedback from interviews with real users during the research and discovery stage:

User-centric approach drives feature development

Reach out to us

Our Solution

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Over the course of six weeks, we went to the field to map unsatisfied needs. We came up with four ideal customer profiles according to several financial behavior variables, with which to conduct our strategic analysis and evaluation.

These yielded 16 possible journey scenarios and 30 different application features that were used to develop the final digital wallet solution.

Our Solution

User-centric approach drives feature development

During the development phase, MJV reported directly to the parent company's managing partner. We made a classic agile squad, responsible for the back-end development, the entire user journey construction, and the design of the digital wallet.

During development, we mapped out nine key functionalities based on feedback from interviews with real users during the research and discovery stage:

The Development Cycle

The battle for wallet shares is just beginning

The rise of fintechs and banking-as-a-service has flooded the market to create an ocean of possibilities. While this project began five years ago, we still hold a squad working on the project - and we know, there are still a number of major players that aren’t taking advantage of the opportunities provided by digital payment solutions.

MJV helped their client enter the financial services industry with a proprietary payment solution.

Transforming Traditional Marketing

In 2018, our client identified an opportunity to launch a new financial product, but still needed some questions answered.

This project was divided into 2 parts:

First, we conducted a behavioral study on the financial habits of the population in a large global market.

Second, was the development cycle. 

The Results

The Battle for Wallet Shares is just Beginning 

The rise of fintechs and banking-as-a-service has flooded the market to create an ocean of possibilities. While this project began five years ago, we still hold a squad working on the project - and we know, there are still a number of major players that aren’t taking advantage of the opportunities provided by digital payment solutions.

Reach out to us

First, we conducted a behavioral study on the financial habits of the population in a large global market.

Second, was the development cycle.

Why a Digital Wallet?

At the time that our client came to us with the idea, the concept was unprecedented in the local area.

The opportunity also presented itself as a way of accessing around 20% of the local population, which remained unbanked.

Why a Digital Wallet?

At the time that our client came to us with the idea, the concept was unprecedented in the local area.

The opportunity also presented itself as a way of accessing around 20% of the local population, which remained unbanked.

Benefits for Companies

Benefits of Agile over Waterfall

Expand revenue streams

Access to user behavioral data regarding consumer financial behavior

Elimination of the middleman (banks)

Increased Customer Loyalty

The Challenge

Identify opportunities for the creation of a digital wallet, validating the concept and demand with end users.

The Challenge

Double the monthly conversion rates for campaigns to redeem points within a  loyalty program.

Double the monthly conversion rates for campaigns to redeem points within a  loyalty program.

Benefits for Customers

User journey simplification

Convenience

Integration with other means of payment

More personalized products and offers

Centralization of financial information

Transferring funds between users

Cash-in

Cash-out

Security

Transferring funds to non-users

Physical store purchases

QR code compatibility

Online purchases

Paying bills and line of credit

The Results

19 guidelines

that ensured value throughout the app launch plan.

5k downloads

in the first month (up to more than 1.5 million as of now).

4.5 star app evaluation

on the Apple App Store (out of 5).

If you’re thinking of incorporating digital wallets or other payment solutions into your business, why not reach out to one of our consultants to find out what MJV can do for you?

Double the monthly conversion rates for campaigns to redeem points within a  loyalty program.

The Challenge

Identify opportunities for the creation of a digital wallet, validating the concept and demand with end users.

The Challenge

Double the monthly conversion rates for campaigns to redeem points within a  loyalty program.

Benefits for Companies

Expand revenue streams

Access to user behavioral data regarding consumer financial behavior

Elimination of the middleman (banks)

Increased Customer Loyalty

The Development Cycle

The Brightest Solution in Telecom

If you’re thinking of incorporating digital wallets or other payment solutions into your business, why not reach out to one of our consultants to find out what MJV can do for you?