Scope definition process

In the rapidly evolving fintech industry, achieving success depends on the capability to not only identify problems but also to develop solutions that align with market trends. Take a look at Finnovaction’s detailed process of outlining the scope for fintech solutions, where every detail is meticulously planned for real-world impact. 


1. Validating the problem: A Crucial starting point

Before diving into crafting solutions, Finnovaction Factory places emphasis on validating the problem. This phase involves rigorous market research, user feedback, and an exploration of pain points. Only after thorough validation does the studio proceed to define a solution, ensuring that the groundwork is solid and the problem at hand is genuinely worth solving.


2. Meticulous planning: From design to delivery

Scope definition at Finnovaction Factory is not a mere feasibility study; it’s a meticulous planning process that encompasses every facet of the product-to-be. Design, functionality, user experience, and scalability are all carefully considered. This phase ensures that the envisioned solution aligns with the studio’s standards and meets the expectations of the target audience.


3. Balancing feasibility with ambition

Crafting fintech solutions involves a delicate balance between feasibility and ambition. Finnovaction Factory carefully assesses the technical feasibility of each aspect while aiming for ambitious solutions that can disrupt the market. This delicate equilibrium ensures that the resulting product is not only innovative but also practical and implementable. 


4. Solutions that scale: Paving the way for real impact

As Finnovaction Factory defines the scope, the focus is not just on immediate problem-solving but on creating solutions that can scale. The studio aims to pave the way for startups capable of addressing real problems at a broad scale, contributing to the long-term impact in the financial services world. 

5. User-centric approach: Fostering deeper connections

User needs take center stage during the scope definition process. Through collaborative co-creation sessions, in-depth interviews, and surveys, Finnovaction Factory ensures that the solutions crafted align seamlessly with user expectations. This user-centric approach not only solves problems but fosters a deeper connection between the fintech solution and its audience. 


6. Iterative refinement: Fine-tuning for optimal market fit

Once the initial scope is defined, Finnovaction Factory engages in an iterative refinement process. This involves continuous testing, feedback gathering, and adjustments to ensure optimal market fit. The iterative approach allows the studio to fine-tune offerings based on real-world insights, refining the solution for maximum impact. 

7. Strategic transition: From creation to market success

As the scope definition phase concludes, Finnovaction Factory strategically transitions from the innovative creation phase to facilitating the sustained success of the startup in the market. The focus shifts to staffing the startup team and ensuring a seamless handover, marking the beginning of the startup’s live presence in the market. 


If this behind-the-scenes journey has sparked your curiosity or if you find yourself eager to delve deeper into our approach, we invite you to connect with us. Whether you’re an entrepreneur seeking collaboration, an industry enthusiast with questions, or someone simply intrigued by the intersection of innovation and finance, we’re here to provide more insights. 

Finnovaction è parte del gruppo Supernovae Labs

partner di vendita di servizi

fintech e fornitore di attività di consulenza

Finnovaction S.r.l.

Viale Andrea Doria 48/A, 20124 Milano

P.IVA 10932500969