“And then what?” is a phrase and a question that’s commonly used/asked in my Payments team. This 3 word phrase is very powerful and necessary for a couple of reasons: one because it promotes 2nd and 3rd order thinking and second because our decisions impact how trillions of dollars move everyday between countries & continents.
While embarking on the path to launch Cross Border Instant Payments feature, I constantly asked myself:
- I launch this feature which reduces the time for funds to reach the beneficiary.. and then what about the cost to transfer? I will need to balance multiple aspects of the cost to enable cross border instant payments, and commercial feasibility.
- The solution enables near real-time account-to-account transfers… and then what about handling failed transactions that need manual repair? A robust failure handling approach was necessary for this product because of so many variables in the payment journey and I don’t want to increase the load on my operations team if the transaction fails and falls into the manually repair queue.
I answer and deep dive on several more aspects in the deck embedded below, which captures the journey of launching cross border instant payments. I also touch upon some deeper aspects of crafting the product strategy, its execution, and final delivery. I have also talked about what was the problem, why I was solving the problem, how I went about solving the problem and, my collaborators and stakeholders.
Please go through the deck and let me know, if you have any questions or suggestions.
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