Product Strategy Recommendations

Levels of the product

A framework that explains how a product is more than its function — the best products include a core product that meets a psychological need.

  • All data is transmitted in and out of the Ledger in real-time, providing rich data streaming for AI and reporting.
  • Banks can manage anything from international currencies to crypto and reward points.
  • Payments processing platform that enables any bank to run all payments for every method, scheme, and region in the world
  • Modern core banking platform in the cloud uses state-of-the-art infrastructure.
  • Product Library, a catalogue of more than 200 pre-configured financial products, such as current and savings accounts, loans, and mortgages.
  • The platform is built around an API-first architecture, giving banks the power to connect to services and technologies from other vendors.
  • Reducing capital expenditure for on-premise hardware and significantly reducing their carbon footprint.
  • Enable banks to innovate and offer new financial services to their customers.
  • With Vault Core as Universal Product Engine, banks can run any product they wish

Competitive Landscape

Examples of each level of competition — narrow, form, need and substitute — for the product.

  • Newly open banks with a new digital bank license
  • The legacy system needs to migrate to a cloud platform
  • A management consultant who works in the bank
  • Partner sells in the banking ecosystem

Friction Audit

List every point at which the customer interacts with the product, areas of friction in that touchpoint, and how Thought Machine could remove that friction.

Product Innovation

The sweet spot of incremental innovation is the intersection of articulated needs for unserved customers or unarticulated needs for served customers. Below is a list of target customers’ needs:

  • Out-of-the-box core banking service
  • Flexibility and easy-to-use configuration layer
  • Hosting options of private and public cloud platforms
  • Scalable solution that meets high demand and throughput
  • Better integration with other banking systems
  • Better reporting and data analysis
  • Data protection and privacy of personally identifiable information (PII)
  • Operational resilience to minimize production incidents

Priorities of the three initiatives and recommendations

Delivering on the revolutionary potential of the cloud core banking technology



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Victor Leung

Victor Leung


I’m a keen traveler to see every country in the world, passionate about cutting edge technologies.