Every project has a unique story. However, success should always be measurable. Here are the stats and facts that sets this project apart.
Ben and Jamie were estate agents with a big idea. 10 years ago, they approached KOMODO to ask us to build a property auction product. 10 years later, they returned as successful entrepreneurs who had a new product in mind which needed the kind of rapidly-scaling technology output only KOMODO can offer.
In the property auction environment, compliance is critical. Detecting fraud and money laundering is a key part of the process and it is extremely time-consuming.
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Our 5-Step process is core to all we do. Working through each project, we apply each step to maximise our output and bring a proven process to our work. All steps are configured to meet your teams’ individual needs and objectives. Here’s a sample of each step in action.
Active listening is one of KOMODO’s best skills. We don’t just agree with you to win your trust - we’ll actively challenge what you said. Our goal is to be able to answer a simple, critical question: can we articulate back the product we’re being asked to build in a way that you, the client, agree with?
We delivered several design sprints to map out all of the areas that the product would touch. This included many of their own teams’ departments as well as the businesses behind certain third-party systems such as money laundering detection. Once we had a true understanding of what was needed, we could progress in a way that all parties were confident in the direction of the product.
A discovery process mapped out how users would be interacting with the product. We worked with the client’s team to build a clear picture by answering the following: how does it work right now? How do we want it to work? What impact will it have?
We had to communicate with end-users and third parties to build an understanding of their integrations - because the product didn’t just have to work, it had to be intuitive and effective - otherwise, it would be a wasted effort.
Although the project required working on complex backend systems, we still needed to pull out all the stops to find intuitive solutions to the problem. Too often, compliance often hamstrings innovation. Our ideation process needed to focus on stripping back complexity while maintaining our innovative edge.
By gathering information from both users and the third parties, our development sprints could work to build features that didn’t break any integrations and were outputs users wanted from the product.
During the project, Iamproperty realised its envisaged pricing model would lead to a steep adoption curve. What was originally going to be a pay as you go model, where each compliance check was paid for by card, was shifted to a subscription service. This had a heavy impact on the way the payment system worked.
Fortunately, because of the way KOMODO works to agreed sprint cycles and can track output capacity, we were able to gauge the implications this change would have on budgeting and time-scale - giving Iamproperty a clear understanding of how it would affect their launch.
In approximately six months, we were able to deliver Iamproperty’s new Intelligent Compliance product into their existing ecosystem. It became one of their most successful commercial launches of all time - delivering a full return on investment within a year of its launch. Returning to the original objectives, KOMODO achieved:
Launched a complex digital product within 6 months that met all compliance and integration requirements.
Met Iamproperty’s roadmap and allowed them to launch to commercial partners when promised - delivering full ROI within 12 months.
Became the company’s most successful commercial launch.
We continue to work alongside the iamproperty group as their chosen technology partners. They are one of the North East’s most successful start-ups and the exact type of team we enjoy working with. Not only do they have a great tech base in-house, but they also recognise their own strengths and weaknesses and collaborate well with our team - facilitating the kind of co-creation approach that makes digital projects effective.