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Future Banking ProjectCase Study
engage by mapping
OBJECTIVEThis bank aimed to enhance the
customers’ experience including their
digital day-to-day and life planning
combined with the branch experience.
FUTUREBANKING PROJECT As the increased use of digitalization in
all areas of life and the ever-changing
behaviour of customers with every
time higher expectations, it is quite
understandable this has a huge impact
both in the physical as in the internet
world of retail banking. This bank
has its objectives to offer exclusive
contemporary products and services in
response to the digital challenges they
are facing and their customers looking
for flexible, integrated and dynamic
solutions for their financial needs.
VISUAL THINKING FOSTERS INNOVATION When it comes to defining a product,
service or just to land any idea, visual
thinking is a great support. Your
innovation project is better to handle
when using images, pictures or even
better making drawings. It helps you to
capture the essence making it tangible
and easier to understand from the
beginning till the end. That means
visual note taking during meetings,
interviews, research, clustering and
visualizing your findings, when it comes
to generating ideas until the phase
of prototyping and in presenting the
concept through visual communication.
THE CHALLENGE
A MAJOR BANK CHALLENGED US IN
THEIR PROJECT CALLED “FUTURE
BANKING” SEEKING FOR SMART IDEAS,
APPLICATIONS, GADGETS, PRODUCTS
OR SERVICES
From a Traditional Banking Experience,
where people often feel lost and
overwhelmed by the complexity of the
products/services, experience lack of
transparency, we suggest to shift this
into a New Social Banking Experience, an
experience where online meets offline,
the use of Social Media is extended to
handle customer service 24/7 and most
important to include gamification so that
banking can be fun and will turn your
customers into brand lovers.
This experience will be generated by the
application, called Glorifi.
Basically, Glorifi Upgrades Your Financial
Quality Of Life. You could see it as the
the “google analytics” for your spending
behavior.
The app will be available on mobile and
web, for clients and non-clients, and can
be contacted 24/7 through Social Media,
WhatsApp, e-mail and through front
office during branch hours.
OUR PROPOSAL
AN EXPERIENCE CALLED GLORIFI
Just mention “banking” and for sure
you´re about to trigger some frightful
faces. Unfortunately people see banking
as doing a chore. Lack of transparency,
the complexity of its products/services,
the one-size-fits-all treatment doesn´t
improve this painful perception.
After a long history of bad reputation,
so far only the bank bounces back with
GLORIFI, the Future Banking. This new
concept is the perfect mix of business
intelligence, gamification, 24/7 customer
service by extending the use of social
media and moreover achieves integrating
the online/offline experience seemlessly.
GLORIFI, the Google Analytics of your
spending behaviour, with its ultimate goal
to upgrade your financial health. GLORIFI
calculates your Financial Quality of Life,
helps you to compare, analyse, offers
personal alerts, recommendations and
insights of your spending behaviour through
visualization, to optimize your financial plan.
See it as your favourite mentor, an
expert in finance who guides you to
keep you on the right track.
Glorifi will soon pop up on the desktop
of many households, with its playfulness
and prosperous outlook towards “New
Economy”, aimed at engaging clients and
non-clients.
Managing money? Dull? Don’t be surprised
if Glorifi becomes your daily favourite!
IMAGINE MANAGING YOUR MONEY IS NO LONGER A CHORE.
WELCOME GLORIFI!
glorifi
glorifi
Visual #6 Concept
Glorifi Upgrades Your Financial Quality of Life“THE GOOGLE ANALYTICS app of your spending behaviour”
PERCEPTION TRADITIONAL BANKING EXPERIENCE
> Feeling lost in banking –complexity of products/services
> Lack of transparency/control
> Treating customers as number/one size fits all treatment
> High barrier to contact and a shore to go to the bank
INSIGHT
Experience need > > Money Management is considered a chore. Thomas needs to be able to have a better understanding of his spending behavior so he can realize his dreams.
NEW ATTITUDE
Feels in control, and at ease knowing he is getting on the right track to reach his financial goals.
ROLES
*digital natives = people born during or after the rise of digital technologies*digital immigrants =people born before the advent of digital technology
CHANNELS
NEW SOCIAL BANKING EXPERIENCE
> Online meets offline
> Extending the use of Social Media as a way to handle your Customer Service 24/7
> Use of Business Intelligence – identifying new personalized opportunities
> Banking should be fun! –Upgrade user experience through gamification
> Create brand lovers
MAIN SERVICE MOMENTS GLORIFI
> Dream & set goals
> Link your Bank Account, tag your expenses + income
> Analyse, compare and play future scenarios
> Get a better understanding of your financial health through visualization, customized alerts and recommendations.
> Take smart decisions and turn your dreams in reality Upgrade your financial quaility of life
BUSINESS IMPACT
> Additional Purchases x Average Purchase = New Revenue
> Increased Loyalty x Revenue/Month = Increased Revenue
> Additional Referrals x Revenue/Referral = New Revenue
ADVICE POSITIONING INSIGHT
Emotional need > > Thomas needs to feel empowered and is looking for a financial soundingboard to keep him on the right track to reach hisdestanation.
NEW BEHAVIOUR
By having a dynamic visual financial overview he gains more awareness to take better decisions. As he visualizes the status to reach his goals it increases his confidence. By combining simplicity and gamification it makes the app easy to use,. For the first time banking is fun and shares this great experience with his friends.
Traditional Banking (offline)
Internet Banking (online)
New Social Banking (online meets offline)
LOW
HIGH
MEDIUM
Cus
tom
erS
ervi
ce
Tra
nsp
ara
ncy
Pa
per
Wor
k
Pro
cess
ing
Tim
e
Fle
xib
ility
Sec
urity
Per
sona
liza
tion
Inno
vatio
n
Soc
ial
Med
ia
Ana
lysi
s
!
$$$
Front Office ApplicationClients and Non clients (digital natives, digital immigrants*)
i i
Website E-mailWhatApp Front Office
Social Media
F or our Future Banking project, we applied
our Visual Thinking methodology that
consists of three stages. The first stage, we call
Explore, where we first take a step back before we
take a step forward to define where we are going.
Then we continue with the second stage Think,
where we zoom into what we have found in the
previous exploration and set up milestones on how
we could get to our destination. And last but not
least, we end with the stage Show, here is where we
define the best way to communicate the idea.Rafael VivasCo-Founder of visualizamos
Nati RodríguezCo-Founder of visualizamos “
”
FROM THEORYTO ACTION
Our first step was to set up a small
multidisciplinary team. In order to see if
we really understood the challenge we
had several discussions, investigated
the perception and main frustrations
on banking through in-depth interviews
involving possible customers to find
out their real needs and finally putting
this all together drawing discovery
map, mind maps, a prototype and
other visual representations. We are
true believers that services should be
experienced through the customer’s
eyes, so we always recommend to
firstly empathize with a possible client,
therefore we created Thomas, an
archetype that will represent a group of
users with the intention it will help us to
design a better product and/or service
as it will be adapted to his needs.
EXPLORE Datos demográficos
Thomas Albers
• Male
• 30 years
• Master degree in International Marketing
• Lives in Berlin
• Works since 5 years at Daimler
• Average income : €45.000
• Profession: Marketing Manager
Generation X (1961-1981)
• Independent• Anti-sistem• Comfortable with technology• Short attention span• Ambitious and eager to learn new skills• Work hard/ play hard mentality
Key characteristics/ attitude
• Social• Communicative• Adventurer• Pro-active
Internet/Social media
• Frequent user Whatsapp, Facebook, Twitter, Instagram, AirBnB
Lifestyle
• Lives together with his girlfriend in Berlin• He is interested in marketing and innovation• Has an active social life:
friends,
restaurants,
sports, events, festivals• Likes to do snowboarding and windsurfing• Loves to do city trips with his
friends
Goals
• Professional development and keep learning about
Digital Marketing
• Live as many “You only live once” experiences
• Go on sabbatical for a round the world • Buy a dream
car and house
• Start a family
*personas
are fictional
characters
created
to
represent the
different
user types that
might
use
a
site,
brand,
or
product
in
a
similar way.
By
empathizing
with
your user it will
help
you to
better design
products/services
according to
real
needs.
To have a better understanding of the
inner world of Thomas we also created
an empathy map that gave us better
insights about his thoughts, frustrations,
motives etc.This initial exploration phase
was the perfect starting point to have
an overview of the scope of the project,
preparing the essential activities and
divide tasks.
I really like my job and would like to learn more about Digital Marketing. My future plan is to grow within Daimler as it is a great employer
My boss is really happy with me as he will save my position when I get back. My friends envy me that I got this opportunity.
My parents say I should do not go to Latin America as they think it is too dangerous
I have an active social life, eating out, get a beer with colleagues and like to do sports with my friends like snowboarding in the winter and windsurfing in the summer.
My friends say I am very social always up to almost everthing
Looking forward to my sabbatical and do my round the world trip. I hope I can manage it well finanaciely
All my friends have good jobs and like to live well, we love all new tech gadgets. I consider myself an early adapter to new features.
He has a steady group of good friends he knew from university. He also gets along with a small group of colleagues from Daimler who like to get together after work.
I hope we can rent out my flat for my sabbatical and our appartment will not be destroyed
We have to arrange a good health insurance and do we have enough savings?
I am so happy that I can return to Daimler when I return from my 3 months sabbatical
I am going to propose my girl friend during our round the world trip as when we get back I would like to start thinking of having a family
Although it is in 6 months we still have to arrange so many things
THINK & FEEL
SEEHEAR
SAY & DO
PAIN GAIN
By this stage it was far easier to
generate ideas as we knew now how
to come up with a meaningful value
proposition when we walked a mile
in Thomas shoes after creating his
customer journey. We use a customer
journey to track the pathways of
individuals through a service a see
the different interactions and allows
us to highlight the weaknesses and
inefficiencies.
THINK
AFTER EXPLORING ABOUT THE TOPIC, WE OBTAINED A VISION WIDE ENOUGH TO BEGIN WITH GENERATING IDEAS
By visualizing the service as a sequence
of interrelated actions it gave us good
overview as we think that the entire
environment of a service should be
considered. We were able to fine- tune
the concept in a few more creative
work sessions building a customized
canvas and drawing a discovery map to
synthesize the main concept and start
making the rough prototype of Glorifi, in
this case drawing the main screens of
the application.
After a few iterations we were able to
give the prototype a bit more shape so
it could serve as a visual representation
of the application. We made a visual
representation that included the main
screens, showing the navigational
elements on each page, and sometimes
showing the navigation between pages.
ATTI
TUD
ES
In the nearest BRANCH together with his girlfriend. They have a relaxed conversation with Diana, a team member of Glorifi
In the nearest BRANCH, Diana gives personalized advice and confirms they have a healthy financial situation
In the RANKING screen, he compares his situation and FQOL with the rest. He is doing more than fine. Thanks to the insights of Glorifi he will be able to realize his dreams
Talks to colleague who recommended the app in the first place in order to thank him
Receives motivating messages from Glorifi per Whatsapp to confirm if he is going in the right direction
Diana called him if all his doubts were resolved and he was more than welcome to come over for a quarterly financial check up
Shares the app with his friends so he can compare his FQOL index with them
AT&T
glorifi
LOG OUT
MENU
contact me
business angel& trusted friend
RANKING12 3
INVITE YOUR FRIENDS TO COMPARE TOGETHERhelp them upgrade their FQOL
budgesFQOL INDEX
you others
HIGHESTSPENDINGTAGS
you others
MOST OPENED JARS
you others
sabbatical 10.000CAR 5.000
TOPSERVICES
you others
studyloan
see more see more
carloan
ii
INTE
RACT
ED
WIT
H
Has an inner dialogue
Has a discussion with his friends about this topic
His best friend, a great "money manager”, says he should contact his bank
Website bank
Listens to music and then to a voice recorder, telling him there are still 4 people waiting before him
His colleague tries to calm him down, he recommends him to use Glorify as he is amazed by its great funcionalities
App store
AT&T
Reads description, ratings, reviews in the App store. And starts downloading the app.
Fills in basic information to register and links to his bank
From the MENU screen he goes to DREAMS to start putting his goals/dreams in money jars
In the DREAMS screen, he opens his first jar by clicking on +
In the DREAMS screen, he arranges the jars according priority and sets an opening date to calculate the recommended saving.
In the BALANCE screen, he sees in an instant that his savings are distributed over 15 money jars and follows his spending and income in real time
In the BALANCE screen, he labels his spendings, insert the amount and uploads the receipt (optional) by taking a picture
AT&T
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user loginUSER ID
LOG IN
AT&T
glorifi LOG OUT
CONTACT ME DREAMS
BALANCE
$ANALYTICS
SCENARIOS RANKING
12 3
glorifi
LOG OUT
MENU
DREAMS & GOALS
put your goal/dream in a jar
rent 800groceries 1.100
CAR 5.000
MBA 18.000sabbatical 10.000
SHORT TERM
MID TERM
LONG TERM
AT&T
PUT YOUR DREAM/GOAL IN A JAR
GOALS
DREAMS&
termshortmidlong
label
amount
choose date of opening jaraugust 2014
saving
[when you click on]
AT&T AT&T
BALANCE$
glorifi
LOG OUT
MENU
new spending
spending + income
savings
ACCOUNT
more details
5.000€distribution
15
230€110€120€
i
i
i
groceries 100€
parking 10€
27 august
freelance 230€$
label
0,0note picture
receipt
GROCERIES EDUCATION GIFT
PARKING HOUSE INSURANCE
BALANCE$
glorifi
LOG OUT
MENU
new spending
spending + income
savings
ACCOUNT
more details
5.000€distribution
15
230€110€120€
i
i
i
groceries 100€
parking 10€
27 august
freelance 230€$
label
0,0note picture
receipt
GROCERIES EDUCATION GIFT
PARKING HOUSE INSURANCE
In the ANALYTICS screen, he calculates his FQOL index in real time, he finds out he is currently a Smart Spender
In the ANALYTICS screen, he analyses his savings + spending behaviour and sees he is doing better on his daily spending
In the SCENARIOS screen, he created 3 budget alerts and is now more aware of how much he can spend
In the SCENARIOS screen, he checks his current status of his student loan. He sees he has 455 days left to pay off his debt of 2.500€
In the SCENARIOS screen, he plays a Future Scenario to calculate a perfect fit mortgage plan
In the CONTACT ME screen, he ask a question to Glorifi via WhatsApp (customer service department behind WhatsApp)
In the CONTACT ME screen, he checks the availability of the nearest branch and settles an appointment
AT&T AT&T AT&T AT&T AT&T AT&TAT&T
ANALYTICS
glorifi
LOG OUT
MENU
SPENDINGLAST 7 DAYS
55€ perday
SPENDINGTODAY
35€SAVINGS
jun
may julaug
100
200
300
400
year august
SPENDING
badges
heavy spender
smart spender
calculate your
FQOL index
ANALYTICS
glorifi
LOG OUT
MENU
SPENDINGLAST 7 DAYS
55€ perday
SPENDINGTODAY
35€SAVINGS
jun
may julaug
100
200
300
400
year august
SPENDING
badges
heavy spender
smart spender
calculate your
FQOL index
glorifi
LOG OUT
MENU
SCENARIOS
BUDGET ALERTS
new alert
3
GROCERIES HOBBY PARTY
SCENARIOScurrent futures
study loan
5.000€time
455 daysdebt left
2.500€
buy house
300.000€CALCULATE
contact me
business angel& trusted friend
mortgage
interest
term
glorifi
LOG OUT
MENU
SCENARIOS
BUDGET ALERTS
new alert
3
GROCERIES HOBBY PARTY
SCENARIOScurrent futures
study loan
5.000€time
455 daysdebt left
2.500€
buy house
300.000€CALCULATE
contact me
business angel& trusted friend
mortgage
interest
term
glorifi
LOG OUT
MENU
SCENARIOS
BUDGET ALERTS
new alert
3
GROCERIES HOBBY PARTY
SCENARIOScurrent futures
study loan
5.000€time
455 daysdebt left
2.500€
buy house
300.000€CALCULATE
contact me
business angel& trusted friend
mortgage
interest
term
glorifi
LOG OUT
MENU
contact me
business angel& trusted friend
glorifi
KEEPIN
prefer face to face product/service advice?schedule a chat at the nearest branch with one of my beloved team members
august 2014
25 26 27 28 29 30 31
glorifi
LOG OUT
MENU
contact me
business angel& trusted friend
glorifi
KEEPIN
prefer face to face product/service advice?schedule a chat at the nearest branch with one of my beloved team members
august 2014
25 26 27 28 29 30 31
Having a one-to-one conversation with one of Glorifi´s team members
He would like to have more advice to resolve some doubts they have on the best timing to start the mortgage plan
After receiving Diana´s personalized advice, he likes to check into his ranking
He wants to thank and tell about his great experience to his colleague who recommended the app in the first place.
He sees he is optimizing his spending behaviour on a daily basis. He is building a stable financial plan.
After this great experience he invites his friends to use the app
AFTER
CU
STO
ME
R GO
ALS
He wants to realize his goals (buying house, sabbatical, MBA, etc) but he worries about his spending behaviour
He wonders how his ambitious friends deal with their money managment to reach their goals
He needs help with his financial plan so he can reach his goals
He checks the website of his bank, to get more information
As he doesn´t find the information he needs, he calls customer service
He trust his colleague more than his bank. So he will check out the app.
Shares his frustration with his colleague that he couldn´t reach his bank
He wants to learn more about the app. Reads the description and sees good ratings and reviews
He likes what he sees and would like to register
He wants to optimize his spending behaviour. He starts with the first step
He would like to open his first money jar
Arrange his goals according to priority. Luckily Glorifi allows him to do that
To have a better understanding about his spending behaviour, he tags per category everything he spends
He likes to have a better insight about his balance and goes to BALANCE
He would like to find out if he is doing all right financially
He wants to take better decisions. He analyses his spending + saving behaviour over the last months
In order to realize his ultimate goals, he think it is wise to set up different budget alerts
He would like to know the status of his current study loan
He would like to know if he can afford himself to buy a house after his sabbatical
He dicussed the possiblities for the mortgage plan with his girlfriend. They both like to make an appointment for one-to-one advice
He analyses the recommended plan adapted to his situation. As he has aspecific question he contacts Glorifi on WhatsApp
BEFORE DURING1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
*The customer journey is the complete sum of experiences that customers go through when interacting with your company and brand. Instead of looking at just a part of a transaction or experience, the customer journey documents the full experience of being a customer.
Very happy because he doesn´t feel he is being treated like a number
HappyMore than satisfied
after
comparing with others and seeing his positive FQOL Index
Grateful for knowing about the app Glorifi
to have a stable
financial plan
Happily surprised
about the after service
call from Diana
Enthousiastic to share the app with his
friends
FrustratedNot sure he
is being efficient
Wondering Lost Overwhelmed by so many products/services
FrustratedAlready waiting
10 minutes on the
phone, finally hangs up
He feels like a numberAnother bad experience
NeutralSceptic
NeutralMore
convinced
NeutralMore
convinced
HappyAbout the
friendly "look & feel"
Thrilled Because it is
so easy to use
Very happyHe finally
can start his financial
plan
Amazed to have
in real time visual
overview
Feels in control
because Glorifi visualises his money
management
Feels in control because
Glorifi visualises his money
management
Feels in control because
Glorifi visualises his money
management
Feels in control because
Glorifi visualises his money
management
Feels in control because
Glorifi visualises his money
management
Wondering Thrilled as it is so
easy to ask questions through
WhatsApp to an expert
Amazed to have
access to Glorifi´s
agenda and to be able to select a date
After receiving an after service call and an invitation for a quarterly financial check up, he definitely wants to recommend Glorify to his friends.
Why we think prototyping is essential
when it comes to testing and designing
new processes/ products and services?
Mainly because through visualization,
building something roughly with your
hands you save a lots of time and money.
Thinking by doing enhances problem-
solving, helps ideation and makes it
easier to share knowledge. Especially
when you know that designing a service
or a product is often complex because
it consists of many elements. It is a fact
that you don’t know in advance how a
customer will react and interact with your
product or service, until you start a pilot.
There is where prototyping can reach a
helping hand in planning, innovating the
service, testing hypothesis, validating the
concept, facilitating the communication
while you empathize with your users,
capture the experience, gain feedback,
iterate until you created a meaningful
service or product and maybe as much
as important, a viable concept.
After we mutually agreed with the final
version of the concept where technology
is leveraging people in an intuitive way to
unlock a seemless experience between
online and offline, we discovered
the importance of the user centred
approach: including the client in the
design process to be able to create
more meaningful products and services.
Now it was time to transform the drafts
into nice material that could explain well
our idea of Glorifi, as you could have
seen already in the images above with
the end result of 6 visuals: Persona +
Empathy Map (1), Customer Journey (4),
Concept of the Idea (1).
See here a closer look to the screens of
the Glorifi application.
AT&T
glorifiupgrades your financial quality of life
LOG OUT
CONTACT ME DREAMS
BALANCE
$ANALYTICS
SCENARIOS RANKING
12 3
AT&T
glorifiupgrades your financial quality of life
LOG OUT
MENU
contact me
business angel& trusted friend
glorifi
KEEPIN
prefer face to face product/service advice?schedule a chat at the nearest branch with one of my beloved team members
august 2014
25 26 27 28 29 30 31
AT&T
glorifiupgrades your financial quality of life
LOG OUT
MENU
BALANCE$
new spending
spending + income
savings
ACCOUNT
more details
5.000€distribution
15
230€110€120€
i
i
i
groceries 100€
parking 10€
27 august
freelance 230€$
label
0,0note picture
receipt
GROCERIES EDUCATION GIFT
PARKING HOUSE INSURANCE
AT&T
ANALYTICS
glorifiupgrades your financial quality of life
LOG OUT
MENU
SPENDINGLAST 7 DAYS
55€ perday
SPENDINGTODAY
35€SAVINGS
jun
may julaug
100
200
300
400
year august
SPENDING
badges
heavy spender
smart spender
calculate your
FQOL index
AT&T
PUT YOUR DREAM/GOAL IN A JAR
GOALS
DREAMS&
termshortmidlong
label
amount
choose date of opening jaraugust 2014
saving
[when you click on]
AT&T
glorifiupgrades your financial quality of life
QQ WW EE RR TT YY UU II OO
AA SS DD FF GG HH JJ
ZZ XX
spacespace SearchSearch.?123.?123
CC VV BB NN MM
KK LL
PP
user loginUSER ID
LOG IN
SHOW
WE HOPE YOU ENJOY GLORIFI AS MUCH AS WE DID WHILE WE WERE GIVING THIS “BUSINESS ANGEL & TRUSTED FRIEND” EVERY DAY MORE AND MORE SHAPE. WE WOULD LIKE TO THANK THE BANK FOR OFFERING US THIS GREAT LEARNING EXPERIENCE!
If you are interested in learning more
about our methodology or would you
like a helping hand in your innovation
projects related to product/service
development, please don’t hesitate to
drop us a line.
CONTACT INFO
