Discovery Phase
Define the product-market fit and accelerate product launch time and budget with Kindgeek's expert discovery approach. It has been proven: mitigating risks in the early stages of development pays off in the long haul.
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Looking to launch a new business vertical or product or want to iterate your custom fintech solution?
The Discovery Phase is the first step before the first line of code is written. It helps you to find the most efficient and cost-effective solution to your business needs and to come up with the full system design architecture, interfaces, and data to meet specific requirements. Here’s what it’s about:
Reduce uncertainty
Analyze your ideas and vision beforehand and get confident regarding scope, timelines, team composition, and functionality to a level enough to begin implementation.
Optimise development timeline
Start seamlessly, move confidently, and optimize the implementation scope and roadmap matched to the budget.
Do competitors benchmarking
Identify opportunities for differentiation, understand market trends, refine your product strategy and perform end-user needs assessment.
Select tools & technologies
Ensure to launch with the right technology and tools, and maximize the potential of getting off to a flying start.
Assess 3-party solutions
Choose the most suitable third-party solutions to align with your requirements, saving time and resources in development.
Accomplish gap analysis
Identify and assess gaps between the current state of a product or project and its target state.
Stay in line with compliance and regulations
We’ve worked with fintech & financial enterprises from all over the world – diving deep into legacy systems and regulatory compliance doesn't challenge us.
Optimise development budget
It's an upfront investment that will lead to significant savings by mitigating scope creep risks in the early stages of development.
Build trust with your IT vendor
By regularly communicating and engaging in in-depth discussions with the team, you can ease your mind and establish a two-way trust for further development.
Who is a discovery phase for?
For those who look to form and validate product vision.
For those pursuing guidance on creating a seamless user experience.
For those who need to elaborate NFR in detail.
For those needing advice on selecting third-party partners for their fintech product
For those wanting to set up a development plan with clear requirements and development tasks.
For those looking to reduce financial loss by covering the current user flows.
We offer
Product Audit
For businesses willing to do a comprehensive assessment of the building blocks of existing product. Product Audit seeks to enhance the product with deep tech expertise. It includes third-party benchmarking, feature analysis, and comparisons to identify improvement areas. The package provides actionable insights and a cost-benefit analysis for selecting third parties while optimizing the product's performance, user experience, and business value.
Product Discovery
For businesses willing to refine a product idea to make informed decisions about further development. Product Discovery aims to test the business idea's problem-solution and product-market fit. The Product Discovery model includes ideation, prototyping, and testing to ensure the product is actually solving the existing problem and meets the business objectives. Product discovery includes creating effective development strategies, designing a well-thought-out product architecture, and optimizing resources for maximum efficiency within specific timeframes.
Our product discovery & design foundation approach
Discovery Phase flow
Problem identification
End-user needs assessment
Market analysis
Ideation and concept generation
Feasibility assessment
Prototyping
Validation
Discovery phase tiger team composition
During the discovery phase, team composition is crucial for a successful outcome. The team collaborates closely with the Product Owner or visioner, ensuring alignment with the overall product vision and goals. Depending on the specific requirements of the project, the discovery phase team can be extended to include additional experts such as DevOps specialists, Mobile leads, or other domain-specific professionals. Around 3-4 weeks
Role | Resposibility |
---|---|
Product owner | Business advocate |
Project manager | Process advocate |
Business analyst | Product advocate |
UX | User advocate |
Architect | Technology advocate |
You will receive
During the discovery stage, the business analyst takes the lead, supported by team leads, software developers, and the tiger team who assist with the clearly prioritized scope on the level of detailing enough to provide an estimate and implementation roadmap. The outputs produced during the discovery phase are crucial considering the time and budget invested. Once this stage is complete, you will receive: