Banking Experience Design

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Banking Experience Design

  1. 1. Experience Design in Banking Sector Student | Winny Wang Professor | Jozeph Forakis Master in Business Design Academic Year 2005-2006
  2. 2. Experience Design in Banking Sector Business Design Experience Concept Research Experience New Bank Banking User Experience Retail Banking CE Market Substantial *System *Services ce rfa Realization Su Banking Trends ? Classifying om Design Experiences let ke Elements S Bank e ur ct ru Organization St Case Study * Q110 * BMW Finance User e op Sc * Umpqua * Virgin Money Scenario * Banca Intesa A New Global gy te User Needs ra Experiential Bank St Concept Key Opportunity Conclusion
  3. 3. Experience Design in Banking Sector The Experience Cycle Model Research Trigger Experience Banking E x p ect a t i o n User Experience Retail Banking CE Market n *System Pr io *Services t ua Banking Trends ox Classifying al im Experiences Ev ity The User ' s Case Study Awa r e n * Q110 * BMW Finance Re s p o * Umpqua * Virgin Money Experience Cycle * Banca Intesa e nse ss Conclusion n tio Ac *Jess, McMullin (2003). c tio e onn The Experience Cycle Model. n C Http://www.nform.ca/files/experience_cycle.pdf
  4. 4. Experience Design in Banking Sector Experiences change in time Research Experience Banking User Experience Retail Banking CE Market Action *System *Services Banking Trends Classifying Experiences Past Future Present Previous EX More EX Modified Case Study Expectation Expectation * Q110 * BMW Finance Experience * Umpqua * Virgin Money * Banca Intesa Conclusion Moivation Context *Makela, Anu & Jane Fulton Suri (2001). Supporting Users' Creativity: Design to Induce Pleasurable Experiences. London; Asean Academic Press.
  5. 5. Experience Design in Banking Sector Customer Experience Marketing (CEM) Research Experience quot;The goal is no longer simply Banking to have you buy a product , User Experience Retail Banking CE Market but rather have it become *System lifestyle .quot; a part of your *Services Banking Trends Classifying quot;The economies have gone Experiences from commodities to goods to services. And at end of services, we are moving into experience: Case Study Experience Economy .quot; the * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa quot;Marketers want to create an emotional attachment between customers and what they are selling.quot; Conclusion *Craig Silverman (2004). Undercover Marketing_selling an experience http://ordinary.blogs.com/clips/ UndercoverMarketing.pdf
  6. 6. Experience Design in Banking Sector The framework for managing customer experience Research Experience Banking Segmentation & Targeting Analysis User Experience Analyzing the Experiential World of the Customer Retail Banking CE Market *System *Services Banking Trends Classifying Experiences Positioning Strategy Building the Experiential Platform Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Implementation Innovation Service Branding Conclusion Engaging in Structuring the Designing the Continuous Innovation Customer Interface Brand Experience *Bernd, H. Schmitt (2003). Customer Experience Management: A Revolutionary Approach to Connecting with Your Customers. John Wiley & Sons Inc.
  7. 7. Experience Design in Banking Sector How to trigger CEM: Strategic Experiential Modules (SEMs) Research Experience Banking Sense marketing may be used to differentiate companies and products, User Experience Retail Banking CE Market to motivate customers, and to add value to products. *System *Services Feel marketing Banking Trends Classifying appeals to customers’ inner feelings and emotions. Experiences Think marketing appeals to the intellect with the objective of creating Case Study cognitive, problem-solving experiences that engage * Q110 * BMW Finance * Umpqua * Virgin Money customers creatively. * Banca Intesa Act marketing aims to affect bodily experiences, lifestyles, and interactions. Conclusion Relate marketing *Bernd, H. Schmitt (2003). contains aspects of sense, feel, think and act marketing. Customer Experience Management: A Revolutionary Approach to Connecting with Your Customers. John Wiley & Sons Inc.
  8. 8. Experience Design in Banking Sector Experience Providers (ExPros) Research Advertising Experience Banking Magalog User Experience Retail Banking CE Market Annual Reports *System *Services Visual/Verbal Identity Banking Trends Classifying Names Experiences Logos and Signage Product Presence Case Study Product Design * Q110 * BMW Finance * Umpqua * Virgin Money Packaging * Banca Intesa Brand Characters Co-branding Conclusion Event Marketing and Sponsorships Product Placement *Bernd, H. Schmitt (2003). Spatial Environments Customer Experience Management: A Revolutionary Approach to Connecting with Your Customers. John Wiley & Sons Inc.
  9. 9. Experience Design in Banking Sector Classifying Experiences Research Company Space Experience Banking can be controlled Emphasis on Emphasis on User Experience Direct Messaging Brand Building n al Ad v e r t ditio (features, benefits) (beliefs, values, emotions) isin Tr a Retail Banking CE Market g iona l A d it tra d *System ve n rti No *Services s in Presentation Banking Trends g Classifying e 'thing' its Experiences Th e ics lf Fu t nc he t st io Rational Emotional Ae n Case Study Meaning * Q110 * BMW Finance io n Hi ' Au * Umpqua * Virgin Money per in c ep t i o n st op o y * Banca Intesa th r it y en n mu C om c' ti a di PR Me Tr a d it iona l P R Conclusion MIND / REASON HEART / EMOTION Personal Space can be influened *Stephen P. Anderson (2006). Classifying Experiences. http://www.poetpainter.com/thoughts /article/classifying-experiences
  10. 10. Experience Design in Banking Sector Classifying Experiences Research Company Space Experience Banking can be controlled Emphasis on Emphasis on User Experience Direct Messaging Brand Building Logos (features, benefits) (beliefs, values, emotions) Retail Banking CE Market Names *System Visual/Verbal Identity Packaging *Services Banking Trends Classifying Product Experiences Product Annual Print Design Presence Reports Advertising ics Fu Sponsorships t nc Magalog he t st io Rational Emotional Ae n Event Case Study Marketing Meaning * Q110 * BMW Finance * Umpqua * Virgin Money Podcast * Banca Intesa Online Social Email Network Product Placement Conclusion MIND / REASON HEART / EMOTION Personal Space can be influened *Stephen P. Anderson (2006). Classifying Experiences. http://www.poetpainter.com/thoughts /article/classifying-experiences
  11. 11. Experience Design in Banking Sector Retail Banking System Research Experience Banking Transaction Stock User Experience Capital Central Processing Exchange Markets Bank Centers Retail Banking CE Market *System *Services Banking Trends Deliveries Classifying Experiences Bank CRM Channels Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa ATM Branch Call Center Web & Phone Conclusion Integrated *Siemens AG Munich (2006). Call Center Answers for Financial Services: Banking. Integrated, Mobile Secure Online Telebanking Networking for Browser-Based Computing Communications from Home Mobile Bankers Http://www.siemens.com Portal Systems • Electronic • Cell Phone Banking • Internet Communication • PDA • Online Billing / Payment
  12. 12. Experience Design in Banking Sector Retail Banking Services Research Savings Day-to-day banking Credits Others Experience *Account management *Certificates of deposit *Overdrafts *Insurance Banking *Means of payment *Mutual funds *Consumer credit *Real estate *Cash utilization *Other savings vehicles *Revolving credit *Concierge services User Experience *Exceptions handling *Mortgages *Loans Retail Banking CE Market *System *Services Core day-to-day Products and services detailed banking needs Banking Trends Classifying *Current account Experiences Account management *Online banking *Call center *Check *Debit card Case Study *Credit card * Q110 * BMW Finance Means of payment *Internal wire transfer * Umpqua * Virgin Money *External wire transfer * Banca Intesa *Standing order (regular amount transfer) *Direct debit *Cash deposit at desk *Cash deposit at ATM Conclusion Cash utilization *Withdrawal at desk *Withdrawal at bank’s ATM *Withdrawal at other banks’ ATM network *Capgemini, EFMA, ING (2006). *Debit card stop payment/blocking World Retail Banking Report 2006. *Stop payment/checking blocking Exception handling Http://www.wrbr06.com *Document search *Banker’s draft (cashier’s check)
  13. 13. Experience Design in Banking Sector Retail Banking Trends Research Distribution of Sales Among Channels Experience Banking 2000 2005 2010 User Experience Web Web Web 5 Retail Banking CE Market 17 Phone 2 Phone 4 *System 8 Others Others 0 *Services 1 Phone 13 ATM ATM Banking Trends 0 0 Classifying Others Branch Branch Branch 3 67 94 Experiences 94 ATM 0 Distribution of Services Among Channels Case Study * Q110 * BMW Finance 2000 2005 2010 Branch * Umpqua * Virgin Money Web 30 18 Web * Banca Intesa Phone Branch 28 Web 5 42 Others 4 Phone 2 9 ATM 19 Phone 12 Branch Others Conclusion 70 2 ATM Others 28 ATM 2 29 *Capgemini, EFMA, ING (2006). Focus: higher value on BANK BRANCHES World Retail Banking Report 2006. and REMOTE / WEB CHANNELS Http://www.wrbr06.com
  14. 14. Retail Banking Trends Research Experience Banking Re - invest ? User Experience Re - position Retail Banking CE Market *System Re - shape *Services Re - tool Banking Trends Classifying Experiences *Redefining Bank interactions with Customers Case Study Encourage customers * Q110 * BMW Finance go to branch * Umpqua * Virgin Money * Banca Intesa Remote Branch Channel Conclusion Product quot;Account development momentquot; *Capgemini, EFMA, ING (2006). World Retail Banking Report 2006. Http://www.wrbr06.com Consultant of managing finances
  15. 15. Experience Design in Banking Sector Research Experience Banking User Experience Retail Banking CE Market *System *Services Banking Trends Classifying Experiences Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Conclusion tangible experience
  16. 16. Experience Design in Banking Sector Research Experience Banking 1 entrance area User Experience 2 trend store Retail Banking CE Market Company Space *System 3 Q110 lounge can be controlled Emphasis on Emphasis on *Services Direct Messaging Brand Building 4 (features, benefits) (beliefs, values, emotions) Q110 kids corner Banking Trends Classifying 5 financial products 1 Experiences 6 Q110 magazine 6 s Fu tic 7 multimedia terminal nc he 5 7 8 tio t es Rational Emotional n A 8 3 website 2 Meaning Case Study * Q110 * BMW Finance 4 * Umpqua * Virgin Money * Banca Intesa MIND / REASON HEART / EMOTION Personal Space can be influened Conclusion Focus: The Bank Branch of the Future turns banking into a new and tangible experience.
  17. 17. Experience Design in Banking Sector Research Experience Banking User Experience Retail Banking CE Market *System *Services Banking Trends Classifying Experiences Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Conclusion Banking as a lifestyle decision
  18. 18. Research Experience Banking 1 flagship store User Experience 2 green account Retail Banking CE Market Company Space *System 3 gift card can be controlled Emphasis on Emphasis on *Services Direct Messaging Brand Building 4 (features, benefits) (beliefs, values, emotions) product graphic Banking Trends Classifying 5 framed nature photos Experiences 6 interactive banking screen 1 s Fu tic 2 7 coffee coaster nc he 58 tio t es Rational Emotional n 3 A 8 website Meaning Case Study 7 6 4 * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa MIND / REASON HEART / EMOTION Personal Space can be influened Conclusion Focus: Banking as a lifestyle decision and the banking experience is a cross between an upscale hotel and a hip retailer.
  19. 19. Research Experience Banking User Experience Retail Banking CE Market *System *Services Banking Trends Classifying Experiences Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Conclusion simplicity and transparency
  20. 20. Research Experience Banking 1 sign User Experience 2 branch Retail Banking CE Market Company Space *System 3 windows can be controlled Emphasis on Emphasis on *Services 1 Direct Messaging Brand Building 4 (features, benefits) (beliefs, values, emotions) advertisement Banking Trends Classifying 2 Experiences 3 G s Fu tic 4 nc he tio t es Rational Emotional n A Meaning Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa MIND / REASON HEART / EMOTION Personal Space can be influened Conclusion Focus: Creating the banking experience with simplicity and transparency
  21. 21. Research Experience Banking User Experience Retail Banking CE Market *System *Services Banking Trends Classifying Experiences Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Conclusion the business can not be related with finance
  22. 22. Research Experience Banking 1 branch User Experience 2 credit card Retail Banking CE Market Company Space *System 3 BMW selected product can be controlled Emphasis on Emphasis on *Services Direct Messaging Brand Building 4 (features, benefits) (beliefs, values, emotions) accessary Banking Trends Classifying 5 online estimator 1 Experiences 6 owner's circle s Fu tic 7 PTG racing nc he 32 7 tio t es Rational Emotional n A Meaning Case Study 5 4 * Q110 * BMW Finance 6 * Umpqua * Virgin Money * Banca Intesa MIND / REASON HEART / EMOTION Personal Space can be influened Conclusion Focus: Finance service can be created by the business which is not related with finance.
  23. 23. Research Experience Banking User Experience Retail Banking CE Market *System *Services Banking Trends Classifying Experiences Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Conclusion branded network
  24. 24. Research Experience Banking User Experience Virgin Retail Banking BZs CE Market Company Space *System can be controlled Emphasis on Emphasis on *Services Direct Messaging Brand Building 2 webite (features, benefits) (beliefs, values, emotions) Banking Trends Classifying 3 retail Experiences 7 5 4 event 3 s Fu tic 5 airplane nc he Virgin 2 tio t es Rational Emotional n 6 BZs A active club Meaning Case Study 7 4 radio * Q110 * BMW Finance 6 * Umpqua * Virgin Money * Banca Intesa MIND / REASON HEART / EMOTION Personal Space can be influened Conclusion Focus: A branded network of business creates added value and lifestyle to customers.
  25. 25. Research Bank is a meeting place . Experience Banking User Experience Retail Banking CE Market Banking as a lifestyle decision . *System *Services Banking Trends Classifying Banks can make your dreams come true . Experiences Branded business network . Case Study * Q110 * BMW Finance * Umpqua * Virgin Money * Banca Intesa Conclusion
  26. 26. Experience Design in Banking Sector Experience Concept Substantial e ac Realization rf Su on Design et l ke Elements S re tu c Organization ru St User e op Scenario Sc gy te User Needs a tr S Key Opportunity
  27. 27. Experience Design in Banking Sector Experience Concept shape the life Social Network enhance the service value Human-interaction Banking Your Life Substantial e ac Realization f ur S Bank on Design Travel t le e Elements Sk e ur t uc Organization r St User pe Scenario o Sc Savings Vacation Planning Checking Transportation gy A Global Branded Network : Accommodation e Investment User Needs at r St Insurance Currency Exchange Your Local Fund Planning : Travel & Financial Earning Credit Advisor Education Entertainment Key Opportunity Your Global Family Travel Advice Travel ... ... Partner
  28. 28. Experience Design in Banking Sector Experience Concept A Global Branded Network: Oppor- * Your Local Travel & Financial Advisor Travel tunity Bank * Your Global Travel Partner Target of New Bank Substantial e ac Realization f ur S High Margin on Design t Niche Market le e Elements Sk Investment Insurance Travel Planning e ur t uc Day-to-day Organization r St banking NEW BANK User Travel & Financial pe Scenario o Sc Needs Upward Mobility gy Youth Market e User Needs at r St Mass Market Key Opportunity Low Margin Mass Market
  29. 29. Experience Design in Banking Sector Experience Concept Travel & Financial NEW Needs Oppor- Upward Mobility BANK Mass Travel Youth Market tunity Bank Marke Global Branded Network Substantial e ac Realization f ur S n to Design e el Elements Sk Local Global re tu uc Organization r St User Local People Client Global Traveller pe Scenario o Sc gy Best Experience Service Trusted Advice e User Needs at tr Travel Security Financial Investment Convenient S Money Exchange Travel Planning Economical Minimum Cost Insurance Easy Maximum Credit Info Sharing Key Opportunity Security
  30. 30. Experience Design in Banking Sector Experience Concept Different Role Play with User The Same Service Quality Needs Local Global Global Vision Local Mission Substantial e ac Realization f ur S n to Design e el Elements Sk Financial Service Travel Service e ur t uc Organization r St Motion Program User pe Scenario o Sc Investment : Study abroad Finance Consultancy gy e Short - term inhabit User Needs at Fund Network Connection r St Deposit Loan Key Opportunity Management Financial Planning
  31. 31. Experience Design in Banking Sector Experience Concept Different Role Play with User The Same Service Quality Needs Local Global Global Vision Local Mission Substantial e ac Realization f ur S n to Design e el Elements Sk Financial Service Travel Service e ur t uc Organization r St During Before User pe Scenario o Sc Travel Account : Travel Advice : Travel Experience : y save money for travel travel planning personal travel guide eg User Needs t ra earn mileage credit local guide network local guide kits St best exchange rate vacation exchange local event message credit card Key Opportunity After
  32. 32. Experience Design in Banking Sector Experience Concept Setting Long-term Global Vision User Achieved by Local Mission Scenario Financial Travel Program Program Total Solution with long-term life and short-term happiness Substantial e ac Realization f ur S n to Design e el Elements Sk Local Finance Global Travel re tu uc Organization r St Manage Meeting People User Center Place pe Scenario o Sc Financial Culture Magazine gy Financial e User Needs at Event r Report St Travel Financial Kits Travel Kits Meeting Personal Financial Key Opportunity New Professional Product Product People Advisor Service Service
  33. 33. Experience Design in Banking Sector Experience Concept Company Space can be controlled Emphasis on Emphasis on Direct Messaging Brand Building (features, benefits) (beliefs, values, emotions) Finance Travel Substantial Financial e Report ac Realization rf Su Financial Financial Kits Program Book Magazine on Design Store et el Elements Sk Meeting Culture Manage Rational e Emotional ur Place Event Center t uc Organization r St Advisor Internet Caffe User pe Scenario o Sc Travel Kits Social Network gy e User Needs at r St MIND / REASON HEART / EMOTION Key Opportunity Personal Space can be influened
  34. 34. Experience Design in Banking Sector Experience Concept Substantial e Presenting a ac Realization f ur S n to Design e el Elements Sk New Global Experiential Bank e ur t uc Organization r St Provides Local Financial Service User pe & Global Travel Network Scenario o Sc For Upwardly Mobile Youth gy e User Needs at r St Key Opportunity
  35. 35. Local Finance Global Travel travel plan Longterm Investiment travel travel fund insurance deposit investment New Innovative Revenue Structure Conventional Revenue Structure credit card Financial Mileage account account business
  36. 36. The people who prefer to create a joyful, crazy, convivial, and creative atmosphere. people
  37. 37. scenario: local customer
  38. 38. Manage Center is the place mainly make customers come to meet their advisor to discuss their travel and finance plans. Private meeting room Event Space Cafe discussion space 70% for Finance Located on ( the local city ) : * station 30% for Travel * SOHO zone place
  39. 39. 3 years with 5 cities travel: Create your travelling life Outline your world Deposit 3 $$ x ( 1 + G %/ 12 ) Investment Group Funds : airline , hotel , leisure industry Enjoy the travel with quot; goeasy quot; easy easy
  40. 40. scenario: global traveller
  41. 41. Meeting Place provides the customers as a network point that they can meet people there to exchange the travel information, to have a guide preview the travelling city. Event Space Internet cafe Open meeting space Book Store 70% for Travel Located on ( the global city ) : * SOHO zone 30% for Finance * airport * museum place
  42. 42. map Having Download to quot;gokits” the device kits
  43. 43. Experience Design in Banking Sector build your brand experience Brand Value Customer Experience * sharing * network * interaction
  44. 44. Experience Design in Banking Sector Thank you!

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