Talking to Rui Pereira about LOQR’s product innovation journey

Rui joined the LOQR team in September and brings over 15 years of experience across multiple industries. Armed with an innovative spirit, he has a highly motivated product mindset and is keen to accelerate growth through innovative strategies and market understanding. 

LOQR’s Product team is now reinforced to face the challenges of the financial ecosystem and empower financial institutions beyond the digital business. 

What are the main challenges of product innovation in the financial ecosystem?

Product innovation has many challenges in the rapidly changing financial world, especially in areas such as digital identity verification. The LOQR Platform is helping our clients overcome several serious challenges, from competition to customer engagement and fraudulent activities. We must guarantee that we lead a proactive approach, identifying those challenges and providing the right solutions to optimise and transform the digital business and the customer experience. 

Aligned with these sector challenges, LOQR integrates cutting-edge technologies, maintains high compliance standards, and tailors its platform to meet the dynamic needs of the financial ecosystem. 

LOQR is also adapting the product and business proposition to be the right partner to create a strong strategy in the digital transformation process. Furthermore, in the financial industry, ongoing innovation is paramount due to the wide range of client needs and the sector demands. 

Based on the latest releases regarding LOQR’s Platform Improvements, can you tell us what are the next steps according to the planned roadmap? 

Our platform continually evolves and brings new and exciting capabilities to help our clients with digital business transformation and optimisation. 

Our roadmap, which builds on the most recent enhancements to LOQR’s Platform, reflects a strong focus on innovation. Our commitment lies in increasing the flexibility and adaptability of our platform, with the primary goal of optimising existing client journeys and launching new ones to meet evolving market demands.  

The upcoming steps involve integrating emerging technologies and reinforcing Artificial Intelligence (AI) capabilities. Automation will be crucial in streamlining processes and increasing user journey efficiency.  

LOQR wants to keep empowering our clients with a platform that meets their present needs and looks ahead to future ones, solidifying our position as a leader in the digital banking sector. 

What are the most critical client hurdles that LOQR solutions are trying to solve?

A primary concern is the demand for seamless and compliant onboarding processes. With this in mind, our solutions establish the foundation for ongoing digital interactions through a platform that streamlines complex identification processes and reduces operational costs.  

Data analysis is a valuable asset that our clients need to improve processes and unlock bottlenecks along the customer journey. With LOQR Digital Insights, our clients can analyse the fast evolution of consumer behaviour. 

Lengthy and cumbersome processes are an obstacle in the banking sector, based on intricate regulations and bureaucratic requirements; our role as a partner of digital business transformation is to help our clients develop solid and straightforward solutions for different banking operations. 

With our solutions, we are empowering companies with the ability to establish and maintain secure, compliant, and long-lasting digital relationships with their customers.

What kind of technologies will be incorporated in the Platform? What role will AI play in the future of new developments? 

The future of LOQR’s Platform incorporates state-of-the-art technologies, focusing on AI. We anticipate using AI to perform advanced data analysis, detect anomalies in user behaviour, and automate verification processes and risk assessment in real-time, ensuring compliance measures with complex regulations.  

The convergence of AI technologies, compliance requirements, and strong security standards creates a seamless, efficient, and secure environment for banks to conduct digital identity verification. LOQR’s Platform ensures a trustworthy solution that meets the complex requirements of the banking sector. 

Combining AI technologies in LOQR’s Platform is paramount to providing reliable solutions for the banking industry. 

The future of digital banking has been a critical issue in the sector. Why is LOQR the right partner to accelerate the conversion from traditional to digital? 

Among the many challenges of digital banking is the need for secure, seamless onboarding and ongoing customer interactions.  

LOQR accelerates the transition from traditional to digital banking by offering a flexible, secure, and adaptable platform. The key to our success lies in simplifying complex identification processes, reducing operational costs, and creating a foundation for ongoing digital interactions. This way, LOQR is uniquely positioned for this transition as it ensures that businesses can seamlessly adopt digital banking practices while meeting the evolving needs of our clients. 

What kind of news can we expect from the development of LOQR’s Platform for 2024? 

As we look ahead to 2024, LOQR’s Platform will continue focusing on innovation and improving critical areas. We are committed to staying ahead of the industry trends while solving the most complex challenges from our clients by introducing a more proactive approach for seamless and secure interactions. 

Without revealing specific details about our roadmap, we can assure you that LOQR will keep the pace and the commitment to continuously improve our Platform and invest in user-centric design and technology innovation. 

Our Out-of-the-box Journeys and modular system enable a risk-adaptable approach according to compliance requirements, assuring we keep everything at a single point and solution.  

What are the most exciting aspects of a Head of Product role?

As Head of Product at LOQR, the role is quite exciting due to its comprehensive scope: it encompasses driving innovation, shaping the direction of cutting-edge solutions, and working at the intersection of technology and business strategy. Among the most thrilling aspects are navigating complex challenges, working with diverse teams, and witnessing the tangible impact of contributions on the company’s success. 

The role also covers strategic decision-making and ensures product development is ahead of market demands and industry trends. Another exciting aspect is leading a team responsible for revolutionising how businesses and individuals establish and maintain digital relationships. 

In a digital world, a Head of Product at LOQR combines the excitement of contributing to a dynamic and leveraging innovation in a company that is reshaping the landscape of digital banking.