Digital Account Acquisition Re-Design for a top International Bank
With the rise of virtual banks, an international bank in Hong Kong has to catch up with new digital capabilities so as to maintain their digital parity in the market. However, they have long been criticized for their poor digital channels and acquisition. They need to see what are the real customer problems from the customer perspective.
Role: Service Designer
Services: UX Project Management, UX Research, Qualitative Interview, Customer Journey Mapping, Service Blueprint, Data Analysis, A/B Testing
Synthesis Wall done by our team in our agency war room
Synthesis Wall done by our team in our agency war room
Design Challenge
The challenges are their marketing team has no idea where went wrong throughout the digital acquisition. They approached us for the solution but they only have access control on public website experience. To understand the problem, we conducted a series of activities to gather the business requirement and the user’s requirement so that we can design a solution that matches both business and user’s expectations:
Business Stakeholder Interview
SMEs users Interview
End-to-end digital journey analysis
How we tackle
1. Business Stakeholder Interview
By interviewing their internal stakeholders - Product Owner, Digital Marketing Team, Customer Insight Team, and Technology Team, the interviews are extremely valuable as they provided a much better product vision and roadmap. It helps us to understand the product context.
We then realized that they treat all the products are individual and silo instead of an ecosystem or comprehensive package to the user. And it certainly not playing their advantages as the largest bank in Hong Kong.
2. User Research & Synthesis
Over 30 SMEs CEO, across different SME stages, were interviewed to understand better what their real needs and current experience on different SME banking experiences, from account opening to day-to-day usage.
The Synthesis process helps us to map the end-to-end user journey and the pain points on each touchpoint.
3. End-to-End Digital Journey audit and analysis
By combining the empirical website data and user research results, we successfully audit the digital acquisition journey and identified the key pain points for improvement.
Result
After 6 sprints of hard work, our team had developed four main recommendations which are aligned with their’s business objectives:
Optimized Acquisition Journey
SME Personas for Personalisation
Full-Funnel Visibility
15% uplift on application starts
43% uplift in click-through rate on Homepage navigation