Embedded Banking Product Pricing and Testing

A company operating in online payment systems. Providing an electronic alternative to traditional checks and money orders, helping online vendors and commercial users by supporting online money transfers in exchange for a fee. Our customer was aiming to develop an embedded banking product that offers financial services to its customers.

Problem Statement

The company faced challenges in pricing and testing its embedded banking product, which required a comprehensive understanding of the market, customer needs, and regulatory requirements. They needed a solution that could automate the pricing and testing process while ensuring accuracy and efficiency.

Our Solution

We developed a pricing and testing strategy for the embedded banking product to analyze market data, customer feedback, and regulatory requirements. The solution:

  • Used Gen AI to analyze market data and identify pricing trends, customer needs, and competitive offerings.
  • Collected customer feedback using RAG, which combines language models with information retrieval to provide more accurate and relevant responses.
  • Ensured compliance with regulatory requirements, such as anti-money laundering (AML) and know-your-customer (KYC) regulations, using Gen AI to analyze and interpret regulatory guidelines.
  • Developed a pricing strategy using Gen AI to generate thousands of pricing scripts tailored to individual customers, balancing revenue goals with customer needs and market conditions.
  • Designed a testing strategy using RAG to simulate customer interactions and identify potential issues or bugs in the product.

Business Benefits

  • The Gen AI and RAG-powered pricing and testing strategy improved pricing accuracy by 25%, ensuring that the product was competitively priced and met customer needs.
  • The automated pricing and testing process reduced the time-to-market by 30%, allowing the company to launch the product faster and gain a competitive advantage.
  • The Gen AI-powered regulatory compliance ensured that the product met all relevant regulations, reducing the risk of non-compliance and associated penalties.
  • The RAG-powered testing strategy identified potential issues and bugs in early development process, improving product quality and reducing the need for costly post-launch fixes.
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