Financial Product Development Process Workflow Template

OpsDog Financial Product Development Workflow - Preview Image

Overview: Financial Product Development Workflow Template

This workflow template illustrates the development and market launch of financial products (e.g., credit cards, loans, insurance policies, investment products, etc.), including initial ideation, product testing, internal approvals and regulatory registration/approval. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand the Financial Product Development process.

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Process Details and FAQ: Financial Product Development

What is Financial Product Development?

Financial Product Development deals with the initial concept development (sometimes called "ideation"), market analysis, product documentation development, internal approval and regulatory registration for new products launched by Financial Services companies (e.g., banks, insurers, investment managers, etc.). Financial products may include credit cards, insurance coverage, investment products (e.g., exchange traded funds, etc.), savings accounts and deposit accounts. Product Development teams, product managers and line of business executives coordinate to conduct full-scale cost/benefit and market analysis to determine if the product is viable. If the product is approved internally, documentation is compiled and submitted to regulatory agencies for approval. If the product is approved by the appropriate regulatory bodies, the teams must then prepare for a full-scale market launch.

Which KPIs, or metrics, are typically used to measure this process?

The following metrics may be used to measure the Financial Product Development process:

Which employees and/or departments are involved in this process?

The following parties are typically involved in Financial Product Development:

  • Product Development Staff
  • Product Managers
  • Market Research & Analysis Staff
  • Line of Business (LoB) Executives
  • Regulatory Agencies

What is the purpose of these workflow templates?

Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.

How are these workflow templates created?

These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.

How do I download a workflow template?

Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the workflow template in PDF and Visio (VSD) formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.

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  • Workflow Template


    Financial Product Development

    - Instantly download files
    - Includes PDF, VSD file formats
    - Customize the Visio (VSD) version
    - Workflows mapped in BPMN 2.0


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