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[Initiative Name]

Overview
Instructions: Don’t worry about filling everything out up front. The main focus is on the problem to solve for the customer and the outcomes from doing so. This template is a guide to help you build and launch great products rather than just a form to fill out. Please avoid acronyms and industry lingo.
Background
What is this project about? Summarize the context, the customer problem we are solving and why it is important for our business (a.k.a., why are we doing it?)
Problem Statement
Detailed description of the problem our users are encountering. This should reflect the issue(s) for the Client and the Consumer (the end user) if that is relevant for the product.
Target Audience
Who is the the target consumer and/or client segment for this product?
Consumers: The Credit Builder loan is primarily focused on establishing credit for young consumers with no credit history
Clients: Digital only banks without the resources to pursue building a CBL product in house
Vision
What would you want this product/initiative to do? How can it elegantly solve the customers problem in a perfect world?
(note: Can be visionary and aspirational)
Business Value
Overview of the business metrics that this initiative is focused on impacting with a description of “how” the initiative is going to impact those metrics.
e.g. Increasing consumer engagement with our Credit Manager embed, increases consumer retention for our clients which in turn increases client retention for Array.
Product & Business Metrics
What are the that indicate you’re achieving your internal goals for the project? What measurable outcomes indicate that you’re successfully addressing the user problems and contributing to the core business goals?
Measures of success
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Measure
Baseline
Target
Actual
1
Product engagement
20% of users click the button
30% of users click the button
2
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Product details and requirements
Definition of done
How will we know when we’ve completed this product?
Out of Scope
What have you explicitly decided not to do and why?
UX & UI Design
Early sketches, competitor examples and similar concepts, user flow diagrams, mockups or wireframes, final designs and prototypes
Research
Quantitative and/or qualitative. Interviews, surveys, experiments.
How do we know
1) is this an actual problem customers have that we can solve?
2) is our proposed solution likely to solve the problem for our customers?
Milestones
0
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Name
Description
Status
Target release
Actual release
Notes
1
FICO Score 8 (link to Shortcut milestone)
An API endpoint that clients can use to retrieve a FICO 8 score
In discovery
2
3
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Epics
0
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Name
Description
Status
1
[Link to epics]
2
3
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Engineering
Spike documentation, data models, process diagrams, partner API docs, architecture considerations, other engineering requirements
Risk and Mitigation
0
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Risk
Likelihood
Impact
Mitigation
1
2
3
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Go-to-Market Strategy
Key Product Messaging
How are we framing and communicating information about this product, both internally and externally? What could we say the wrong way that would get us in hot water? (e.g., say "Build Credit History", not "Build Credit" - you can go down if you mess up your payments)
Communications (internal and external)
Email announcement, blogs, social media, in-app
Training
Sales, client success, clients, documentation
Release plan
Beta release, testing, gradual rollout or all at once, etc

Appendix (optional)

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