THRIVE IN THE BRAVE PURSUIT OF NEXT

The way Financial Services are transforming

Context

Major forces compelling the financial services industry in the world to accelerate their pace of digital
transformation
MAJOR FORCES THE NEW STANDARDS EMERGING

LEADING EXAMPLES

Difficult macro Dramatically

CIR at CIR at
Environment lower costs 60-70s 20-30s
CIR of 34% for digital v.
54% for traditional

Enhanced customer
New competition
experience -20s to -30s 50s to 60s
NPS of 70-80 for 2018
NPS Scores NPS Scores

Shifting customer
Faster speed
needs and
of innovation 6-9 months <1 month per Added new features
expectations per release release monthly since 2018

Emergence of new
With enhanced scalability Used Google Cloud
technologies On-premise Fully cloud-based
Platform for automated
infrastructure infrastructure
deployments at scale

Current state of incumbent financial services companies

Incumbents often remain as ‘laggards’ despite significant investments

Leader
MOST INCUMBENTS STRUGGLE AS:

• They deliver ‘me-too’ products which don’t

CUSTOMER LEADERSHIP

focus on addressing major customer needs

• They have high operational costs

Incumbents are behind with significant spend just to maintain
and changing slowly…
poor performing capabilities

NOW • They are slow to innovate due to cultural, organizational,

and technical barriers
Laggard Leader

OPERATIONAL LEADERSHIP
NOVA Group
Introduction

Vision
.
To evolve from a regional bank to a technology
conglomerate

6
NOVA approached PS to build a digital ecosystem that helps them be customer centric by capturing their
share of mind from the time they wake up till go to bed.

Leader

Goal

Customer leadership
Create unique and beloved
experiences which solve
for customer needs and
turn customers into
advocates

Leader

Operational leadership

Drive significantly lower costs-to-serve through highly

automated, highly efficient processing
PS Approach

We adopted a DBT strategy as a critical starting point

3 STEP PROCESS:

1 2 3

EXPLORE &
ANALYZE &
IDENTIFY
HUNT FOR VALUE PRIORTIZE
OPPORTUNITY
PROPOSITONS
SPACE
CREATE VALUE
PROPOSITIONS MIXED BACKLOG &
DEFINE VALUE
SOLUTIONS
POOLS
We holistically explored the opportunity space through a threefold lens and helped the Nova Group
digitally transform its business to create multidirectional growth potential

Value Creation

Customer & Market

Business
Brand / consumer / colleague,
Strategy & value, operating model, culture
trajectory, expectations & needs

Capability
Architecture & Technology, data, delivery 9
Reimagining Nova group to create ASEAN’s largest fintech company

A platform to deliver:

Ability
Abilitytotocompete
compete
Banking Non-banking
BankingServices
Services Non-banking
effectively
effectively withnew
with new
services
services entrants and incumbents
entrants and incumbents

Capabilities and experience to:

Reduce
Reducecosts,
costs,time-to-
time-to- Accelerating
Acceleratingdigital
digital
Reinvent
Reinventcustomer
customer market,
market, change and driving
change and driving
engagement
engagement Build
Buildaascalable
scalable business
businessgrowth.
growth.
technology
technologyplatform.
platform.

Delivered through:

Best-in-class
Best-in-classtechnology AAunique,
Leading
technology unique,holistic
holisticand
and
Leadingtalent
talent&&global
global repeatable
expertise
Industry-leading
Industry-leading repeatable approachtoto
approach
expertise digital
PAAS
PAASbusiness
business digitalinnovation.
innovation.
IGNITE & HUNT

Our first step was to hunt for value creating opportunities for Nova Group. We leveraged the
“Attention Economy” and assets where “money is in motion” from a consumer’s daily routine

7 AM 9.00 AM 3:30 PM 6:30 PM 9:00 PM 10.30 PM

Breakfast Travel Grocery Travel Bill payment Online Shopping

6 AM 8:30 AM 12.00 PM 5 PM 7:30 PM 9:30 PM

Fitness Invest Lunch Shopping Snacks Hotel

Explore a unique partnership model to transform the Bank

Build a strong loyalty proposition across all assets and touch points with Nova
We performed a market research for different areas of potential businesses identified from a
consumer’s lifestyle

These are the findings for travel market of Country. Similarly we did the research for other areas

(billions)
SHAPE & INCUBATE
From the analysis performed, we identified new business lines for Nova Group to expand in partnership
with a technology solution provider and shaped the ideas into hypothesis

Food / grocery delivery NOVAX Cryptocurrency Exchange

NovaMart
Goal of ~2m customers

Health Nutrition, Health,

PLUS Exercise Tracking Investments Products
Goal of 100m customers

Travel Loyalty , Commerce

Goal of ~2m customers

Lending Gamified Finance

UP Goal of ~5m customers by 2024

Finalized platforms to go live

Product Led Approach

We translated the Nova Group vision into Objectives & Key Results (OKRs) by adopting our product led
approach which will further be the basis for setting a North Star product vision

Objectives Key Results

 Unify customer experience across business platforms Grow topline Improve product &
(services) revenues service delivery
 Identify current & relevant focus areas efficiencies

 Establish synergies to the traditional banking business

 Provide a roadmap for sustainable & innovative growth Develop GTM

Expand client base
Product (s)
Designed the product journey with North Star product vision and identified the capabilities/ features across four new
businesses to align with the Nova Group objectives

Become the most admired technology conglomerate &

Business
provide a holistic solution to all customer needs
Vision

Unify customer experience across business Establish synergies to the traditional banking Provide a roadmap for sustainable &
Identify current & relevant focus areas
Strategic platforms business innovative growth
Objectives
Illustrative

Key Results Improve product & service

Grow topline (services) revenues Develop GTM Product (s) Expand client base
delivery efficiencies

Health Ecosystem Food/ Grocery Delivery Lending Travel

Feature 1 Feature 1 Feature 1

Feature 1

Feature 2 Feature 2 Feature 2

Feature 2
Capabilities
Feature 3 Feature 3 Feature 3
Feature 3

Feature 4 Feature 4 Feature 4

Feature 4

Feature 5 Feature 5 Feature 5 Feature 5

Journeys Travel

Food/ Grocery Delivery

Health Ecosystem
Lending

Convenient Immersive Sustainable Smart Personalized Vibrant

Prioritization

For feature prioritization, we performed value-oriented analysis and organized the delivery of outcome-
oriented features instead of breadth of functional coverage

Unifying efforts and prioritising across areas to deliver value for a

customer or colleague group

OKR1 OKR2 …

Breadth of Coverage

Feature 1 Feature 2 Feature 3 ……

Travel

Feature 1 Feature 2 Feature 3 ……

Nova Mart

Feature 2 Feature 3 ……
Feature 1
Health Plus Value
Stream 2

Feature 2 Feature 3 ……
Feature 1
Lending Value
Stream 1
Agile Delivery

We delivered aggregated platform capabilities incrementally based on prioritized journey opening

opportunities for advance features

Planning
& Implementation
Customer
Insights

Build
Business Features Deep Dive
Drivers and Refinement Base features &
Platform

Capabilities Evolve
Learn Test

FEATURE IDENTIFICATION AND MVP : BUILD & TEST BUILD & SCALE THE
PRIORITIZATION BUSINESS MODEL

BLUEPRINTING DESIGN, BUILD & SCALE AND LEARN FIX & MAINTAIN

MVP RELEASE 1 RELEASE 2 WARRANTY SUPPORT

Week 1-4 Week 1-6 Week 1-10

• Design Customer journeys
• Design Service
blueprints
• Product roadmap
• Mixed Product Backlog
• Digital Platform MVP • Digital Platform • Digital Platform
• Integration Design • Cutover & • Warranty & Operate
• Payment & settlement • Release Release Release 1 Release 2
• UX/UI Design System • Planning
• Technical Architecture Design • Report

Key Outcomes
Business Outcome

Following the agile delivery approach, we decided to first go live with the SuperApp of the
aggregated platform and tested the business impact it created

Business impact 70+ zones

in country & its surrounding areas

The SuperApp was piloted as a minimal marketable product

in one zone of the country just five months after the initial
inception phase, before being operationalized, proven and 25K+
expanded across the city Delivery agents

With more than 30 seamless production releases in 2 months,

along with 200 new user stories released post go-live, the app 7,000
orders per hour at peak times
has set a new standard for Nova Bank

5x
Projected operating profit post pilot vs. the traditional business
Appendix
Build & Scale

We built travel platform as a one-stop solution for all travel services

Customer journey across all the travel services

Travel Platform Landing Hotel Landing Screen & Property Details & Room Review Reservation, Payment Favorites, News & Offers &
Screen Search Result Details Screen & Confirmation Screen Notifications
Adopted the same approach to build and scale platforms for other identified
business lines

NovaMart : Nova Group’s food delivery platform

Health Plus : To develop ‘one-stop-solution’ for achieving and maintaining

a healthy lifestyle

Lending : A high approval, non-securitized, personal revolving credit lending

facility
SuperApp

Helped the client build region’s First ‘Super App - NovaHood’ integrating various services into
NovaMart to unlock Inclusive Growth Opportunities for All

This integration will be based on incorporating these 5 core NovaHood View

principles:

Embracing talent & Serving

Innovation culture personalized user
Providing quality
engagement
digital services
NovaMart NovaHood Travel

Increasing income Accessible financial

opportunities assistance

Scope of the SuperApp for future releases

Long
Short To provide financial products to new captivated To expand the SuperApp by integrating term
term customers Health Plus and Lending Platforms
thank you

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