Project Charter: Drop — Fintech Payment App
Project Charter: Drop — Fintech Payment App
Project: Drop — Remittance + QR Payments
Version: 1.1
Date: 2026-02-08 (updated 2026-02-23)
Author: John (AI Director)
Status: Approved
Reviewers: Alem Bašić (CEO)
Document History
| Version |
Date |
Author |
Changes |
| 0.1 |
2026-02-08 |
John |
Initial draft |
| 1.0 |
2026-02-13 |
John |
Updated after Phase 0.5 security sprint |
| 1.1 |
2026-02-23 |
John |
Aligned with ROADMAP.md and current pipeline state |
1. Vision & Mission
Vision: Drop becomes the default payment tool for all residents in Norway who need to send money abroad or pay at local businesses — capturing the remittance + QR payments market that no single app currently serves together.
Mission: Build a PSD2 pass-through fintech app (never holding customer money) that offers remittance at 0.5% and QR merchant payments at 1%, powered by Open Banking — cheaper and simpler than every existing alternative.
Strategic Alignment: Drop is ALAI Holding AS's flagship product, demonstrating AI-native product development from zero to market. It aligns with ALAI's mission to "build digital" and generates recurring revenue through transaction fees. Innovasjon Norge Oppstartstilskudd (150K NOK) provides initial runway.
2. Scope
2.1 In Scope — Deliverables
| # |
Deliverable |
Description |
Acceptance Criteria Summary |
| D-01 |
Web App (Next.js) |
Full-featured payment app with 10 screens |
All pages functional, deployed to staging at drop-staging.fly.dev |
| D-02 |
Remittance Flow |
Send money to 30+ countries at 0.5% fee via PISP |
User can initiate transfer; 6 corridors working (RS, BA, PK, TR, PL, EUR) |
| D-03 |
QR Payment Flow |
Pay merchants by scanning QR code at 1% fee |
Merchant QR generated; customer scan + payment flow functional |
| D-04 |
Open Banking Integration |
AISP (read balance) + PISP (initiate payments) via BaaS partner |
Real bank connection via BankID + selected BaaS provider |
| D-05 |
KYC + BankID Onboarding |
Identity verification, age 18+, Norwegian residency |
Users verified via BankID; KYC status tracked per user |
| D-06 |
Landing Page |
Marketing site at getdrop.no with waitlist |
Live on Vercel; waitlist collecting emails |
| D-07 |
CI/CD + Monitoring |
GitHub Actions pipeline + Fly.io deployment |
All tests green in CI; staging auto-deploys on merge |
2.2 Out of Scope
- Physical card issuance (feature-flagged, requires card partner)
- Wallet / balance holding (Drop is pass-through — no float)
- Crypto payments or asset trading
- Lending or credit products
- Under-18 user support (requires separate legal review)
- White-label product for other companies (Phase 4 roadmap item)
- Real money movement in MVP demo (mock Open Banking until licence obtained)
- Content creation, translations beyond Norwegian/English
2.3 Assumptions
| # |
Assumption |
Risk if False |
Owner to Validate |
| A-01 |
BaaS partner (Swan or SpareBank1) confirms by Phase 2 |
Phase 2 blocked indefinitely |
Alem |
| A-02 |
Finanstilsynet PISP/AISP registration process takes ~3 months |
Launch delayed |
Alem + Legal advisor |
| A-03 |
Users have Norwegian BankID and +47 phone |
Onboarding conversion low |
Alem (user research) |
| A-04 |
Open Banking APIs from BaaS provider are stable |
Integration rework required |
John |
| A-05 |
Innovasjon Norge grant (150K NOK) is approved |
Cash flow gap before revenue |
Alem |
2.4 Constraints
| # |
Constraint |
Category |
Impact |
| C-01 |
Drop NEVER holds customer money (PSD2 pass-through model) |
Legal / Regulatory |
Architecture must use AISP/PISP only |
| C-02 |
Minimum user age: 18 (BankID DOB validation) |
Legal |
Onboarding must validate DOB |
| C-03 |
NEVER use word "banking" without licence disclaimer |
Legal |
All copy must be reviewed |
| C-04 |
Norwegian BankID required for onboarding |
Technical |
Locks market to Norway initially |
| C-05 |
Budget: ~250K NOK total (150K Innovasjon Norge + bootstrap) |
Financial |
AI-first development to minimise costs |
| C-06 |
PCI-DSS: NEVER store or expose full card numbers/CVV |
Security |
Cards feature requires tokenisation partner |
3. Stakeholder Register
| ID |
Name |
Organization |
Role |
Interest |
Influence |
Engagement Strategy |
Contact |
| S-01 |
Alem Bašić |
ALAI Holding AS |
CEO / Sponsor |
Strategic success, revenue, brand |
High |
Direct sessions, all major decisions |
[email protected] |
| S-02 |
John |
ALAI Holding AS |
AI Director / Product Owner |
Technical delivery, product quality |
High |
Daily async, all sprint reviews |
— |
| S-03 |
SpareBank1 contact |
SpareBank1 |
Banking Partner Candidate |
Partnership revenue, market expansion |
High |
Quarterly meetings, pitch materials |
Via Alem |
| S-04 |
Swan (BaaS) |
Swan.io |
BaaS Provider Candidate |
API adoption, merchant fees |
Medium |
Technical integration discussions |
Via John |
| S-05 |
Finanstilsynet |
Norwegian FSA |
Regulator |
PSD2 compliance, consumer protection |
High |
Formal registration process |
Via legal advisor |
| S-06 |
Early users (waitlist) |
— |
End Users |
Cheap remittance, easy QR payments |
Low |
Waitlist comms, beta invitations |
[email protected] |
| S-07 |
Local merchants |
Oslo area |
Merchant Users |
Lower fees than Vipps, easy setup |
Medium |
Door-to-door onboarding |
Alem |
Key Decision Makers:
- Final scope decisions: Alem Bašić (CEO)
- Technical architecture approval: John (AI Director)
- Budget approval: Alem Bašić
- Contract/legal: Alem Bašić + external legal advisor
4. Budget Summary
| Line Item |
Amount (NOK) |
% of Total |
Notes |
| Development (AI-first) |
10,000 |
4% |
Claude Code + tooling costs |
| Open Banking integration (PSD2) |
15,000 |
6% |
BaaS setup + API costs |
| Legal + compliance setup |
50,000 |
20% |
Finanstilsynet registration, legal review |
| Marketing launch |
100,000 |
40% |
Social media, local merchant onboarding |
| QR stickers + merchant kits |
20,000 |
8% |
Physical materials |
| Buffer / contingency |
55,000 |
22% |
Unexpected costs |
| Total Budget |
250,000 |
100% |
|
Payment Schedule: Internal project — Innovasjon Norge Oppstartstilskudd (~150K NOK) + bootstrapped by ALAI.
| Milestone |
Amount (NOK) |
Source |
| Phase 0.5 completion (security hardening) |
0 (AI cost only) |
ALAI bootstrap |
| Phase 1 (demo app) |
~25,000 |
Innovasjon Norge |
| Phase 2 (bank integration) |
~125,000 |
Innovasjon Norge |
| Phase 3 (launch) |
~100,000 |
Revenue + grant |
5. Timeline & Milestones
| # |
Milestone |
Target Date |
Gate Condition |
Owner |
| M-01 |
Phase 0 — Foundation |
2026-02-08 |
Landing page live, brand done, pipeline test passed |
John |
| M-02 |
Phase 0.5 — MVP Hardening |
2026-02-20 |
Security audit passed, 217 tests green, staging live |
John |
| M-03 |
Phase 1 — Demo App |
2026-03-15 |
Full 10-screen app functional, investor-ready demo |
John |
| M-04 |
BaaS Partner Decision |
2026-03-01 |
SpareBank1 answer or Swan signed |
Alem |
| M-05 |
Phase 2 — Banking Integration |
2026-04-30 |
Real BankID, AISP, PISP working with 10 beta users |
John |
| M-06 |
Finanstilsynet Registration |
2026-05-15 |
PISP/AISP licence submitted |
Alem + Legal |
| M-07 |
Phase 3 — Production Launch |
2026-06-15 |
App Store + Play Store live, 200 merchants onboarded |
John + Alem |
| M-08 |
Post-launch Review |
2026-07-15 |
1,000 users, monitoring active, external pentest done |
John |
Gantt Diagram:
gantt
title Drop — Project Timeline
dateFormat YYYY-MM-DD
section Foundation
Phase 0 Foundation :done, p0, 2026-02-08, 7d
Phase 0.5 Hardening :done, p05, after p0, 14d
section Demo
Phase 1 Demo App :active, p1, 2026-02-20, 28d
section Integration
BaaS Partner Decision :milestone, baas, 2026-03-01, 1d
Phase 2 Banking :p2, after p1, 56d
Finanstilsynet Filing :milestone, reg, 2026-05-15, 1d
section Launch
Phase 3 Production :p3, 2026-05-15, 30d
Go Live :milestone, live, 2026-06-15, 1d
6. Success Criteria & KPIs
| # |
Success Criterion |
KPI / Metric |
Target |
Measurement Method |
Evaluation Point |
| SC-01 |
Revenue generation |
Monthly Recurring Revenue |
130,000 NOK/month |
Transaction logs |
Month 12 post-launch |
| SC-02 |
User acquisition |
Registered users |
3,000 |
App analytics |
Month 12 post-launch |
| SC-03 |
Merchant adoption |
Onboarded merchants |
200 |
Merchant dashboard |
Month 12 post-launch |
| SC-04 |
System performance |
API response time p95 |
< 500ms |
Monitoring |
Launch + 30 days |
| SC-05 |
Security posture |
Security score |
≥ 80/100 |
Security audit |
Pre-launch |
| SC-06 |
Transaction reliability |
Payment success rate |
≥ 99% |
Transaction logs |
Ongoing post-launch |
| SC-07 |
Fee competitiveness |
Remittance fee vs Wise |
0.5% vs 0.7-1.5% |
Competitor monitoring |
Ongoing |
7. Dependencies
| # |
Dependency |
Type |
Impact if Delayed |
Owner |
Target Date |
Status |
| DEP-01 |
BaaS provider (Swan or SpareBank1) |
External |
Phase 2+ blocked |
Alem |
2026-03-01 |
SpareBank1 pitched; awaiting |
| DEP-02 |
Finanstilsynet PISP/AISP registration |
External / Regulatory |
Real payments blocked |
Alem + Legal |
2026-05-15 |
Not started |
| DEP-03 |
BankID integration via BaaS |
External |
SCA/onboarding blocked |
John |
After BaaS selected |
Pending BaaS |
| DEP-04 |
KYC provider (Sumsub or partner KYC) |
External |
AML compliance blocked |
John |
After BaaS selected |
Mock in place |
| DEP-05 |
Phase 0.5 security hardening |
Internal |
Phase 1 blocked |
John |
2026-02-20 |
In progress |
8. Governance Model
8.1 Decision-Making Authority
| Decision Category |
Authority |
Must Consult |
Must Inform |
| Scope changes |
Alem (CEO) |
John |
All stakeholders |
| Architecture decisions |
John (AI Director) |
Tech Lead agents |
Alem |
| Budget changes > 10% |
Alem |
John |
— |
| Release go/no-go |
John |
QA agents |
Alem |
| Partner/legal decisions |
Alem |
John + Legal advisor |
— |
| Team / agent changes |
John |
— |
Alem |
8.2 Change Control Process Summary
- Request: Any stakeholder raises change request via
change-request.md template
- Impact Analysis: John assesses scope, timeline, budget within 3 business days
- Decision: Alem approves/rejects within 2 business days
- Budget changes > 10%: Require Alem explicit approval via session
- Implementation: Approved changes logged in
comms/decisions/, scheduled in roadmap
- Communication: All stakeholders notified within 24 hours
8.3 Escalation Hierarchy
L1: Agent → John (response: 4 hours)
L2: John → Alem (response: 24 hours — strategic/financial only)
L3: Alem → External advisor (legal/regulatory only)
9. Team & Roles
| Role |
Agent / Person |
Responsibilities |
Availability |
| Project Sponsor / CEO |
Alem Bašić |
Strategic direction, partnerships, budget approvals, regulatory |
Part-time (decisions + partnerships) |
| AI Director |
John (Claude Opus) |
Delivery accountability, architecture, agent coordination |
Full-time |
| Developer / Builder |
Builder (Claude Sonnet) |
Feature implementation, API routes, frontend pages |
Per-task |
| QA / Validator |
Validator (Claude Sonnet) |
Testing, validation, code review |
Per-task |
| Security |
Security agent (Claude) |
Threat modelling, audit, compliance |
Per-sprint |
| Legal |
Legal agent (Claude) |
Regulatory review, document drafting |
As needed |
| Finance |
Finance agent (Claude) |
Budget analysis, projections |
As needed |
10. Risk Summary
| # |
Risk |
Probability |
Impact |
Mitigation |
| R-01 |
Banking partner / BaaS not secured in time |
High |
High |
Multi-provider approach; Swan as backup to SpareBank1 |
| R-02 |
Finanstilsynet registration delayed |
Medium |
High |
Start process early; operate under bank partner licence initially |
| R-03 |
Security breach before production hardening |
Low |
Critical |
Security audit completed; 8 critical fixes tracked; no real money in MVP |
| R-04 |
Vipps launches remittance product |
Medium |
High |
Already ahead in market; community trust and lower fees are moat |
| R-05 |
Slow merchant adoption |
Medium |
Medium |
Door-to-door in local communities; 0% fee for first 3 months |
Full risk register: [risk-register.md](risk-register.md)
Approval
| Role |
Name |
Date |
Signature |
| Author |
John (AI Director) |
2026-02-08 |
Approved (AI) |
| Reviewer |
John (AI Director) |
2026-02-23 |
Reviewed (AI) |
| AI Director (John) |
John |
2026-02-08 |
Approved |
| Project Sponsor |
Alem Bašić |
2026-02-08 |
Approved |
| CEO |
Alem Bašić |
2026-02-08 |
Approved |
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