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OBJECTIVE

Help older people adapt to the banking system of the future

MY ROLE

User Researcher

Service Designer

Visual Designer

Design Researcher

METHODS & TOOLS

Research

User Persona

Journey Mapping

Stakeholder Mapping

Systems Mapping

Service Blueprinting

Trend Analysis

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TIME FRAME

6 weeks

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THEMES

Banking

Financial Inclusion

Speculative Design

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Banking focus shift
towards..

a. Operational efficiency-optimising workflows and resource utilisation to free up focus for customer care
b. Banking excellence- using data driven insights for enhanced banking quality and efficiency
c. Experience- centric- creating frictionless for customers within and beyond walls
d. Innovation Capability- Creating a culture of continuous innovation and improvement

Improved operational efficiency

  • Transitioning workers from critical roles to pivotal roles - develop upskilling and reskilling plans, right leadership traits which will be key for banks to get the most out of their workforce, partner with iriganizations for training

  • Turning threats into opportunities- Banks are investing more in cyber security, covid has seen a major impact on AML- increase in roles like robot programming specialist, blockchain architect, data scientist, compilance and regulation

  • Partnership- Partnering with Fintechs and Bigtechs will be a mutual benefit and create more opportunities in the industry, new ways of working and increase in salaries will be observed

  • Organizational Structure: Classification based on behavorial traits/ personality. For eg: Introverted/ extroverted

Focus on banking excellence

The role of banks has also been augmented by their partnerships with governments during this crisis. Banks have acted as a key mechanism for providing credit guaranteed by governments to both individuals and companies. Going forward, it is possible that banks’ social objectives will be expanded, with a deeper focus on health, safety and purpose. Banks that find ways to generate positive effects for their employees and the broader community in which they operate will benefit from enhanced customer loyalty rates.

In a research conducted by EY more than half the respondents indicated that their future purchasing decisions will be impacted by banks actively supporting the community, being transparent in all they do, and ensuring they are doing good for society.To accommodate the needs of diverse customers banks will have to collect more data on trends in population, changes in demographics, etc

Experience
centricity

  • We are imagining a future where banks are not going to be bound by walls it will offer seamless experiences that follow the customer wherever they go

  • Bank branches- Adding community focused conference and seminar spaces and cosponsoring local events to better connect to the local community

  • Redeveloping free standing, multi-floor branches into mixed-use developments with the bank as a co-anchor in high-traffic locations

  • BOOKING APPOINTMENT, REMINDERS, NOTIF, ALEXA

Working lives The proportion of the working age population aged between 50 and the state p

Population
analysis

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Whst does aging poulation look like in the future?

Working lives The proportion of the working age population aged between 50 and the state p

Primary research

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Empathy Map
Canvas

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1. Older people are an important part of the UK economy and an important customer group for banks.

2. Adapting to the trends of an ageing society

3. A more personalised service that enhances satisfaction for customers

4. Building reputation for good service and will bring a competitive advantage

How might we help elderly people adapt to the banking system of the future?

Proposed 
Stakeholder Map

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Future
Service Vision

Working lives The proportion of the working age population aged between 50 and the state p
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Service 
Overview

Customer
Journey

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Conclusion

New capabilities to create a culture of continuous innovation and improvement.

 

These trends will pave the way for retraining existing employees and on-boarding new staff with new skills. Within the course of this process, some traditional banking jobs may face redundancies, but this should be viewed as part of the natural evolution of the sector. The crisis has also expanded the social role of banks, which could create new types of jobs to support this broader community focus.

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