The Brief
The National Payments Corporation of India (NPCI) is an umbrella organization for operating retail payments and settlement systems in India, is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. We conducted 4 design cohorts representing 4 unique problem statements in 2 days during the Global Fintech Festival 2023 at BKC, Mumbai. The close-door cohorts were designed to address the problems faced by the end-customer by various existing fintech solutions like UPI, AePS (Aadhaar Enabled Payment System), Fastag and more. The key stakeholders for the cohort were NPCI product owners along with the product partners like Indian banks, ONDC and various aggregators.
Our Scope
We were given the problem statements and were responsible for helping generate crazy customer-centric solutions around the problem statements involving all the key stakeholders and decision makers to the given problem.
We pushed the stakeholders in the room to think beyond the functionalities and feasibilities of looking at the problem and encouraging them to brainstorm crazy ideas addressing all the friction points and taking in feedback and perspective of everyone in the room without revealing their identities! Keeping them anonymous helped in removing all the possible biases and bringing maximum ideas out of the minds on the table.
The Results
The results were fascinating, not just to us but even for the stakeholders in the room. We conducted voting for all the ideas, the pains and the gains and towards the end we did a rapid prototyping on the top voted ideas to look at the milestones of the journey in a gist! We co-created the journeys together on how we wish to see the desired output and ended the cohort leaving everyone amazed on endless possibilities which can come to life in no time!
