Navigating IT queues: How to integrate credolab into your IT tasks list

25/8/2022

The planning process is crucial for companies looking to launch their product or services as soon as possible. However, even with good planning, long IT queues are one of the main reasons for delays in product launches and new software implementations. In truth, the list of implementations or developments that an IT department must go through before working on a new integration can be a hassle.  

At credolab, we understand that IT queues are generally crammed and that’s why we have worked tirelessly to make the integration of our SDK as low-touch as possible. In this guide, I will share how you can optimise your work with the IT team and integrate credolab’s solutions in a seamless, streamlined way. So how do IT teams work?

The 4 most common methodologies that IT teams use to organise their work are:

  • Waterfall:
    This is one of the oldest and more traditional development methods. It is a linear model composed of 6 sequential stages: Requirements, Design, Development, Testing, Release, and Maintenance. Each phase must be completed before moving on to the next step.

    It is easy to understand and manage but is not so accurate for long projects because it is very structured and lacks flexibility for changes.

  • Agile:
    This approach divides the project into several phases, with short requirements and development cycles, and encourages team collaboration. 

    Project management based on agile principles allows projects to be continuously improved throughout their lifecycle, with changes being made quickly and responsively.

  • Lean:
    This methodology focuses on developing the MVP (Minimum Valuable Product) first.  This approach is based on the premise that you can provide sufficient customer value by delivering minimal features that early adopters will use.

    In this way, all ornaments are removed so that the product can be launched as quickly as possible and collect user feedback quickly, focusing on the vital features.

  • Scrum:
    It is used mostly for complex projects designed for teams of ten or fewer members, who break their work into goals that can be completed within time-boxed iterations.  The scrum team assesses progress in time-boxed daily meetings of 15 minutes or fewer, called daily scrums. 

    It is especially used when requirements are unclear or there are a lot of changes. 

Scrum and Agile, the most popular methodologies, work with sprints, a series of iterations that break down big, complex projects into smaller pieces, delivering working software frequently and easily responding to change. The problem is that if a task is not completed in a sprint, it gets put into a backlog. This slows down the entire project and may compromise future task prioritisation processes.

“IT queue (a.k.a. IT tasks list) is a term that defines the list of implementations or developments that an IT department must go through before working on a new integration.”

All of the above share one common factor, IT queues. With Scrum or Agile methodologies, the IT team will always need to go through a list of implementations before moving on to the next project. As a fintech, we understand this and are committed to helping you work through your IT tasks list and get credolab's results as soon as possible.


How to navigate IT queues and relative prioritisations 

🧗🏻 Challenge #1️⃣
One of the main problems that some clients have faced in the past is finding a quick slot in their IT queue to integrate credolab’s solutions. Since integrating credolab’s SDK takes between 2 to 5 days, the IT team shall allocate 1 software developer to integrate and test the SDK - that's between 2 to 5 man-days. While this is usually a short project, a combination of limited resources and perceptions may deprioritise the project. 

💡How credolab can help:

To prove the value of our products, we established a Customer Success team dedicated to working with clients and sharing information, manuals and guidelines.  Moreover, we have also created an SDK trial area on credolab.com that allows developers to evaluate the ease of integration of our solutions embedded in any app or website. By doing this, you will be able to integrate the SDK with one simple API that includes all insights, allowing you to get actual credit scores and digital insights in real-time.

🧗🏻 Challenge #2️⃣:

Besides that, the team pushing for credolab integration may need to build the business case to justify a high IT priority.

💡How credolab can help:
Credolab's solutions aren't just for risk departments. Businesses can use our solutions to improve sales, marketing, user experience, and fraud processes by reducing costs, increasing conversions, and reducing churn. This solves a variety of questions:

  1. Marketing: Credolab offers a collection of machine-readable marketing insights made from data points observed at the individual customer level. These marketing features could be used to improve products and services, sales, promotion, branding and enhancing UX.

  2. Fraud: Features are also very useful for detecting suspicious behaviour and preventing fraud through checks that can detect deceit in real-time and without processing personal data. For example, credolab’s anti-fraud scores provide tailor-made models developed to detect the probability of a device being similar to a fraudulent one.

  3. Approvals: Used to monetise users’ intent, the analysis of leads allows you to improve your allocation by ranking offers based on the likelihood of each lead being approved for any financial product


The urgency of planning backwards


IT queues are planned ahead and generally full for several quarters. Although some tasks can be "dropped in" in an existing sprint or cycle, proper planning is still required to ensure that happens. Without planning, IT queues will always be full. So, if your Q1 to Q3 queue looks full and you wait until Q4 to prioritise credolab, your Q4 will probably be booked, and the integration will likely slip to the next quarter.

💡How credolab can help:

Although integrating credolab is easy, we recommend planning backwards to ensure the many steps needed are done before launching. Such as: 

  1. Agreeing to the commercials
  2. Designing the user journey
  3. Getting the legal contract clean
  4. Finalising the internal approval process (this generally includes the InfoSec assessment, the Third-party Vendor Review process, and the Data Governance due diligence)
  5. Allocating the right amount of sprints to integrate the SDK, test it, and bring it into production (live) 

To complete all the steps above, we recommend starting the end-to-end process a few months before the launch date

5 key steps in planning backwards with ease


Level up your lending business with us today

Credolab’s software covers three large market segments through credit scoring, fraud detection and marketing. The sooner you integrate, the quicker you’ll see the business impact.  Your company could take advantage of all risk, marketing and fraud insights from day one! And there are different layers of insights that can be ingested depending on the use case and the level of sophistication of your data analytics team: 

  • Basic features are perfect for enriching existing datasets with user-level insights. For example, these could be used to augment existing marketing segments into very granular buyer personas.

  • Custom insights are ideal for addressing a client's specific needs and are built on each client’s requirements. For example, these could help detect if the customer has a competitor's app installed or check how often the income field was changed during the application process.

  • Model insights offer up to 50 of the most predictive features in a production model. These insights are instrumental in gaining an even higher uplift on the predictive power of the general model. For example, instead of using the risk score as a single input, your team could redevelop the model by using all model features and gain between 6 to 20% additional uplift. 

Although each IT team has its own way of working, it is necessary to understand that no matter the methodology, be it Waterfall, Agile, Lean or Scrum, planning is a must if the company wants to see results as soon as possible and experience the gains of credolab’s software. Therefore, forethought is important, and you can get our help with that! 

Interested in learning how our products can help you? Request a free demo, or drop us your questions here.

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