BlinkPay CASE STUDY: Technical Due Diligence

Leading Aotearoa New Zealand open banking gateway BlinkPay was seeking funding for its next development phase.

BlinkPay asked Company-X to conduct technical due diligence and produce a report for investors on its work to date and its product development roadmap.

BlinkPay Global Group Ltd is a leading Aotearoa New Zealand open banking gateway. It is Māori-owned, managed, and funded.

BlinkPay is at the forefront of developing payment services in New Zealand for open banking, which has been adopted in several countries and is delivering innovations in payments and services that utilize customer financial data.

Company-X produced a technical due diligence report that was consumable by an internal technical audience but also understandable for an external funder. Another challenge was defining the definition of success. A completed software product verses a completed software product with users.

BlinkPay received external funding to pay for its technical due diligence report.

Company-X asked BlinkPay chief technology officer Chris Riddell and chief product office Adrian Smith to fill out a technical due diligence questionnaire.

Company-X solutions architect Rachel Primrose reviewed their answers and prepared a list of supplementary questions before spending about half a day interviewing them both.

Primrose sought further clarification before authoring a report based on her findings.

The report found BlinkPay’s governance model was more mature than most organisation’s its age and size thanks to its team’s experience and the financial sector it was operating in.

The report also made recommendations around what resourcing to prioritise in what key areas.

“The quality of report was top notch. Company-X showed a level of thought leadership around how we can potentially build out our business in the future, that aligned to much of our own thinking. Ben is an absolute credit to Company-X, Rachel is marvellous. So, our experience with Company-X has been absolutely exemplar.”

BlinkPay Chief Product Officer Adrian Smith