Financial Product Development

Workflow Template

Financial Product Development

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.

Related KPIs : Cycle Time: Time to Market, Market Potential, New Product Kill Rate, New Product Profits as a Percentage of Total Profits, Percentage of New Products Launched on Schedule, Percentage of New Products On Budget

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.

Download a Sample Financial Product Development

Frequently Asked Questions

Q: How do you create your Workflow Templates?

A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years analyzing operations at hundreds of leading companies worldwide, documenting thousands of business processes at precise levels of detail. We’ve anonymized this data—drawn from millions of dollars’ worth of consulting assignments—and have made it available to you in easy-to-use templates at affordable OpsDog prices.

Q: What can a Workflow Template do for me?

A: Boost productivity, efficiency, and service levels! Broken business processes—marked by manual workarounds, downtime, and errors—are all too common. Many businesses write off this waste as “the cost of doing business.” But you know better than that! Simply select the OpsDog Workflow Template that best fits your situation, tweak it to your liking, and then use it to train employees, identify process improvements, inform an IT project, or re-design a workflow. That’s a lot of power in your hands, cheap!

Q: What’s in the box when I buy one?

A: Three handy versions, all in one zipped file. It’s yours to download immediately upon purchase, and includes your chosen Workflow Template in PDF format, plus Microsoft PowerPoint (which you can edit), and Visio (which you can also edit).

Q: Your download-able templates look great. But I need something custom. Can you help?

A: Heck yes. Our analysts would be happy to provide you with a more detailed Workflow Template than what we offer for instant download. We can also develop an entirely new, customized Workflow Template to fit your business; we specialize in this stuff and would love to help you! Simply email us ( or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.

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