You must build a proof-of-concept (PoC) or/and a prototype based on the materials and your knowledge of the RegTech landscape, and submit it in a Word file. If you are building a prototype submit ALL the files necessary to run the prototype and make sure that the prototype is properly debugged and is running with no errors. The prototype should include all the necessary instructions to allow any layperson to run it. The programming language that you use must run in the University systems. Your coursework must cover ALL points and answer ALL questions raised in the Task.
The maximum total marks for this coursework is . On Moodle, you will find an Excel file under the Assessment Tab which details the rubrics that will be used to mark your submission.
Your coursework should be Word processed in accordance with the following:
• Font style, Arial, font size 12
• 1.5 line spacing.
• The page orientation should be ‘portrait’
• Margins on both sides of the page should be no less than 2.5 cm
• Pages should be numbered
• Your name should not appear on the script.
• Your student number should be included on every page.
Students are advised to consult the University Regulations1 and their course handbooks regarding the penalties for and definition of plagiarism, which essentially is the deliberate and substantial insertion in your own work of material from someone else e.g. a published source such as a book or article, or simply another students piece of work, without acknowledging the extent or source of the quotation. Coursework Submission Deadline: See Moodle Submission Link.
Expected return of feedback and marked work: 14 working days from the deadline Coursework
– PoC is used to test the idea of a certain technical feature, one part of the system or the general design of a product, and check if it is viable to do some specific tasks that are required of it;
– PoC is used to prove that it is possible to apply those ideas;
– PoC can represent not just one, but a couple of different processes with their own separate objectives;
– PoC could be used to test something on just one part of the product, or to check if two separate systems, or parts of the same system, can work together;
– PoC shouldn’t have all the features as the final product, not even as the prototype;
– PoC is used before it is tried in practice with a fully working prototype;
– The main goal of PoC is to prove that it is actually possible to develop an idea and include it as part of the final product.
– A prototype is an unfinished version of a product, which contains all the basic functions or the appearance of the final product and is used for testing the included features;
– A prototype gives the general idea of whether the product is ready for the release or not;1To view regulations use the University website.
– A prototype serves its purpose of finding out and solving all the possible problems related to any of the included content, so it would be balanced and fixed prior to the release;
– Creating a prototype is not the same as creating the final product.
• Several types of prototype:
– Proof of Principle Prototype: It is used to show what the main aspects of a certain product design are, and to introduce us to the basic functions of a possible product. While it has most of the functions as a basic product, it does not contain all the features, but instead, just the basic functions that the final product should have.
– Working Prototype: A working prototype is the version of the product which has almost the exact content as the final product, but not as polished as the final product. It is often used for pre-release testing, to get proper feedback on whether the product is ready for the release or not. If everything works properly and the prototype is upgraded to the full product, which is followed by the final release on the market.
– Visual Prototype: The task of a visual prototype is not to represent all the basic functions of the product, but instead, to show how would the final product look like. It can be used in early stages to show just a basic design, which could later be improved.
– User Experience Prototype: This type of prototype is used to give feedback about what do customers and users think about it, how they feel when using it and to give proper feedback on whether it is good enough for the release or not. Hence, it has to have all the basic functions of the final product, as well as most of the intended look which the final product would have.
– Functional Prototype: A functional prototype is used to represent nearly finished products. It should look almost the same as the final product and have all the basic functions as well. What could be different is some visual or technical features, which developers wanted to test, so they might want to get feedback for some type of look or for the users opinion on whether to include a certain function or not.
– Paper Prototype: This is used in very early stages of development and it should represent all the basic functions and appearance drawn out on the paper. It is just a sketch of the possible product, with all the intended functions. It is very useful for the presentation of your ideas about new products because it is much cheaper and cost-efficient than making a proof of concept or simple prototype.
Your final PoC or/and prototype should consider the above information and answer the following questions:
1. Is your solution capturing real-time data in context? Carefully explain why and how?
2. Does your solution consider legacy integration? Carefully explain why and how?
3. Does your solution contemplate the trade-off between implementing the solution and a frictionless onboarding? Carefully explain why and how?
4. Is the data in your solution bulletproof? Is the shared database immutable and all parties can trust that nobody can change the data it contains, as in a blockchain?
5. Is your solution ready to smoothly integrate future changes? How is it prepare to do so? Who can integrate the necessary changes?