1. PROJECTS QUESTIONSAnswers to question in this chapter are mandatory! | |
Please describe the proposed solution: KYCX360 integrates CX360, specialized banking CRM; Connect, omni-channel contact center solution and FolderX, enterprise content management system in order to provide banks with the ability to on-board and sell their products and services digitally through advanced verification and e-signature. The solution integrates with website forms on the bank's side and eTrust certificate to streamline the entire KYC process, filter out the client applications that do not fit bank's preset criteria and improve overall customer experience. | |
In which stage of the development is your idea? Just an idea Early stage of development Middle stage of development Almost ready for the market | How does your idea contribute to the improvement of financial services in Western Balkans 6 region? Most of the Western Balkans countries are adopting or in the process of adopting regulations that allow digital on-boarding and banks are in need of a secure solution that streamlines the process of verifying the client's identity and signing the required e-documents. KYCX360 covers all of the touchpoints, starting with the website form application, all the way through the verifying via video call and integration with the authorized certifying body and to the final agreement (e-signature). |
What technologies does your idea rely on (please also specify programming languages and frameworks)? Java/Spring Boot, Python HTML, CSS, Typescript/Angular MySQL, MongoDB, RabbitMQ Camunda BPM, Alfresco Docker Talend | How does your idea contribute to the fraud and cybercrime prevention? KYCX360 has 3 layers of verification:
The bank can choose to utilize one, two or all three ID verification methods, which in turn results in high confidence in the KYC process streamlined through KYCX360. |
Describe the activities of team members so far from this Hackathon’s topic domain.: Maša Miladinović - 4 years of experience in technical marketing, content creation and conference participation Heril Muratović - 8 years of experience in computer programming; backend developer that is the brain behind CX360, banking CRM Boris Tuponja - 10 years of experience in software engineering; person behind Connect, omni-channel contact center software Aleksandra Milić - 2 years of experience in B2B software sales in telecommunications and banking industry Stefan Janković - 2 years of experience in frontend development, working on a banking CRM | How would you use the funds received from the prize fund? The funds would be used for seamless integration of 3 complex solutions owned by Logate and with 2 partners, Telekom and Veridas for e-signature and biometric verification, respectively, as well as the integration with authorized certifying body of ID documents. If there are funds remaining, we would use them for marketing activities in order to reach the commercialization phase faster. |
2. BUSINESS MODEL CANVASAnswers to question in this chapter are not mandatory. If you want your project description to be of better quality, we recommend that you answer as many questions as possible. | |
KEY PARTNERSWho are our Key Partners?
Who are our key suppliers? - Which Key Resources are we acquiring from partners? - Which Key Activities do partners perform? Partners are aiding in identity verification (biometry) and e-signature of documents. | KEY ACTIVITIESWhat Key Activities do our Value Propositions require? 1. Integrating FolderX with eTrust certificate provided by Telekom (in progress) 2. Integrating Connect with biometric verification provided by Veridas (in progress) 3. Integrating CX360 with Connect and FolderX solutions 4. Cloud deployment of the solution for global scaling Our Distribution Channels? Customer Relationships? Logate team reaches out to existing clients and presents the solution at international conferences in order to find potential clients. Revenue streams? KYCX360 is sold as part of the CX360 module. For on-premise deployment, there are implementation costs, license fees and biometric identification fees (in case the client wants to integrate biometric identification as part of the KYC process). For cloud deployment, there is a charge per user license per month. |
KEY RESOURCESWhat Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams? (Types of resources: Physical, Intellectual, Human, Financial) | VALUE PROPOSITIONSWhat value do we deliver to the customer? For the bank: The bank can safely on-board and offer products and services digitally, without the need for their end-customer to visit the branch. Which one of our customer's problems are we helping to solve?
What bundles of products and services are we offering to each Customer Segment?
Which customers needs are we satisfying?
|
CUSTOMER RELATIONSHIPSWhat type of relationships does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they? | CHANNELSThrough which Channels do our Customer Segments wants to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? |
CUSTOMER SEGMENTSFor whom are we creating valve? Who are our most important customers? | COST STRUCTUREWhat are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive? (Fixed Cost [salaries, rents, utilities], Variable costs, Economies of scale, Economies of scope) |
REVENUE STREAMSFor what value are our customers really wiling to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? |