1. Increase speed to market Increasing speed to market delivers a decided competitive advantage that enables organizations to outpace rivals or react more quickly to change. Techniques applied to increase speed to market include: rapid iteration to reduce development cycle time and quickly validate new business opportu- nities; co-creation with key partners, employees and end-users to accelerate innovation; and lean methods to build minimal viable products (MVPs) that are released quickly and tested with customers to gather input for further product development iterations. CASE EXAMPLES Executing rapidly on a vision In 2014, CheBanca initiated a project to anticipate the future of home banking. Six weeks later, they were presented with a compelling vision for 2019 based on detailed customer data and qualitative insights. Convinced of a significant opportunity with a limited “window,” management committed to quick decisions and approvals—and endorsed the use of techniques that would shorten the time to market for future digital service innovations. To create extremely fast product iterations, senior designers and developers worked side-by-side to implement a “super prototyping” technique that delivered product code in a condensed timeframe. In parallel, a UI (user interface) toolkit was developed, providing a library of reusable and documented front-end code that empowered CheBanca to develop new products quickly and consistently. The extended project team and systems integration partner observed a 30% increase in speed to market compared to similar projects on the same UX platform. Saudi Telecom Co. (STC) provides a similar example. In 2015, STC wanted to create a fresh, modern digital experience to appeal to millennials. Saudi Arabia has a young population (roughly 65% are aged between 15 and 34) and one of the highest penetration rates of smartphones, social media and online platforms in the world, yet the experience for digital natives with legacy tele- communication carriers in the region was poor. BUSINESS VALUE OF DESIGN frogdesign.com | 05