When Mesh ID wanted to develop a client due diligence sharing network for Jersey’s financial services industry, Digital Jersey formed a bespoke working group to bring all the key players to the physical and virtual table to fast-track the project while ensuring it gained regulatory approval and industry support.
The right people at the right time
Mesh ID approached Digital Jersey to make use of its all-island testbed proposition, Sandbox Jersey, to bring their game-changing product to market.
As Digital Jersey’s fintech business development manager Jessica Osman said: “Key to this was getting the right people in the right place at the right time, which is precisely why we set up a working group and a timetable of sessions where each one had a specific purpose.”
“We had executing officers around the table for operational decisions, compliance managers for client due diligence, and a hotline to the regulator so they were able to plot progress at every stage.”
Communication is key
Digital Jersey’s ethos of ‘removing the roadblocks’ was essential to Mesh ID’s ability to bring the product to market at pace.
Gui Vohringer, MD and co-founder of Mesh ID, said: “Using Jersey as an all-island testbed was key to unlocking the commercial potential of our product. Having a bespoke working group of key industry representatives, and with an incredibly clear purpose at every stage meant time wasn’t wasted, and value was delivered in record time.”
“The lead-times of each session was long enough to ensure the right people could attend, the agenda was laser-focused to ensure it was always purposeful, and a circular post-session feedback process with beta users ensured real-time feedback at each iteration of Mesh ID’s innovation project.”
Collaboration in action
Digital Jersey will continue to work with Mesh ID as it adds further functionality. While the working group’s job is done, separate user groups will offer real-world feedback which will help grow the awareness, usage and success of Mesh ID.
Tony Moretta, CEO of Digital Jersey, said: “Mesh ID is such a good example of collaboration in action. Government, industry, regulator and more, working together to bring to market a product which will boost productivity, further improve customer security, and boost Jersey’s reputation as a well-regulated jurisdiction when it comes to financial services.”
“Our role as an enabler of growth, bringing parties together to make a tangible difference for individual businesses and the wider economy, is precisely what Digital Jersey is here to do.”