Technology
Diagnostic Review
Diagnose, Optimize, Succeed
Our Services
Assess Platform Capabilities
Evaluate Technology Architecture
Improve Integration Capabilities
Cyber Security & Regulatory Compliance
Data
Validation
The Digital Fifth’s Approach
Current State Study
- Conduct workshops to understand expectations of Company/Investors.
- Align with NBFCs/Startups/Fintechs in line with the expectations of Investors/Company.
- Prepare the scoping document with input from both teams.
- Obtain all necessary documentation for due diligence or application screening.
- Share a list of needed documents to understand the capability of the product/application/software.
- Prepare relevant questionnaires and identify frameworks for due diligence.
- Decide report formats and content, and get concurrence from all stakeholders.
Review & Report Finalization
- Verify all documentation and literature collected from Fintech/Startups for authenticity.
- Assess if the systems align with the information in the documents.
- Evaluate processes for quality assurance, security testing, application deployment, and operations to validate technological capability claims.
- Document validation results as part of the final report in agreed formats.
- Assess the technology and functional development roadmap to understand upgrade speed and outputs.
- Conduct interviews with key resources in NBFC.
- Verify and sign off due diligence reports by stakeholders.
- Achieve sign-off in phases according to the release plan of various sections.
Outcome
- Gaps/Limitations in identified areas
- Suggestions to improve upon technology areas in terms of (Must Have/Good-to-Have )
- Market insights on best practices
Case Study
Challenge
A prominent investor is considering an investment in an NBFC, and The Digital Fifth has been tasked with conducting a comprehensive evaluation of the NBFC's technological capabilities. The evaluation aims to assess several key areas including functionality, scalability, resilience, and the readiness of API interfaces. Additionally, it will examine the current technological capabilities to serve the target segment, ensure regulatory compliance focused on the technology of the NBFC systems, and verify cybersecurity measures. A review of software licenses and related documentation, along with data validation through sample records verification, will also be conducted to ensure the robustness of the NBFC's systems.
Solution
The Digital Fifth will adopt a systematic approach to this due diligence exercise. This includes conducting thorough document reviews, application/system/architecture walkthroughs, and on-field visits for scoping exercises. The team will facilitate walkthroughs of product journeys, processes, and policies, complemented by in-person interviews and workshops with NBFC teams. The on-field visits and assessments will align the NBFC's technology stack and architecture with its business roadmap and strategy. Additionally, The Digital Fifth will define and build an improvement plan for technology and security to address any identified gaps.
Impact
The Digital Fifth will adopt a systematic approach to this due diligence exercise. This includes conducting thorough document reviews, application/system/architecture walkthroughs, and on-field visits for scoping exercises. The team will facilitate walkthroughs of product journeys, processes, and policies, complemented by in-person interviews and workshops with NBFC teams. The on-field visits and assessments will align the NBFC's technology stack and architecture with its business roadmap and strategy. Additionally, The Digital Fifth will define and build an improvement plan for technology and security to address any identified gaps.
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