The rapid evolution of fintech, advancement in technologies and ever-changing end customer expectations have brought home the realization that product development is no longer the sole domain of the developer or the fintech enterprise initiating the development. As early as 2015, Modefin constituted a Product Advisory Council to align strategy, technology and customer needs.
We humbly acknowledge that the design and launch of almost all our pioneering solutions, and our rating as a Star Performer by IBS Intelligence, is due to the active involvement of the Council, which comprises nominees from our key clients, our in-house technology heads and our founders.
Objectives of Modefin Product Advisory Council (MPAC)
To identify challenges faced by our clients (banks and financial institutions) worldwide
To organise customer recommendations and focus on market-relevant issues.
To identify best practices, requirements, potential solutions and implementation approaches to develop the perfect version of the product suite.
To offer customers a single Point-of-Contact on their ongoing project.
To engage in consultations at periodic review points in the product development life cycle.
MPAC Membership Process
Membership to MPAC is by invite only, and there is no fee for being part of the Council. Modefin periodically sends MPAC membership invites to banks and financial institutions, and a review is undertaken upon submission of registration details by the invitee.
Nomination of Members
Nomination of members to the MPAC is at the discretion of the bank or financial institution. The invitation is addressed to the Chief Executive Officer, and the invitee may choose to accept or nominate any other person.
Once appointed, nominees will continue to serve on the Council until such time the bank or financial institution specifically requests for a cancellation. However, Modefin will cross-check and verify annually to ensure they continue to be in the employment or management of the nominee institution.
MPAC Membership Process
The Council will meet once every quarter for a duration of two hours. The topics for discussion will include industry trends, bank’s short and long-term plans, and upcoming developments or emerging trends in the concerned markets. As part of the agenda, Modefin will present developments in the product’s life cycle, and members will be called upon to share their insights on Strategy, Design and Beta Testing.