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dtbanking.pptx
1. Team members
• Suraj Kulkarni R20EF334
• Hanamant R20EF298
• Vishwanath R20EF340
• Gangadhar R20EF295
• Santosh R20EF322
• Akshay T R20EF285
• Saurabh R20EF323
Guided by :
Prof. Robinson
2. WHAT IS
DESIGN
THINKING
• Design thinking is both an
ideology and a process,
concerned with solving
complex problems in a highly
user-centric way.
• Design thinking is an approach
used for practical and creative
problem-solving.
3. DESIGN THINKING IN BANKING
• Banks are seeking to shape and
unfold their business models to
match the demands and
opportunities in the present
economic environment.
• Design thinking is an approach
used for practical problem-
solving in consumer centric way
5. Empathy
• Without it, design thinking might
look like any other creative process.
• Empathy means putting aside your
ideas to understand why
consumers think and behave the
way they do.
• The goal of the empathize phase is
to gather observations, so you can
truly start to empathize with your
users and their perspectives.
6. Define
• Observe where problems exist
from a user standpoint.
• State your users’ needs and
highlight opportunities for
innovation.
• Lay down all your observations
and draw parallels across users’
current experiences.
7. Ideate
• Collate a range of creative
ideas that address the
user’s pain points or unmet
needs.
• Quantity trumps quality, as
ideas can arise from any
corner
8. Prototype
• The goal of this stage is to
understand what part of
your ideas work, and which
do not.
• Ideas should be as real and
tactile as possible
• Change your concept based
on feedback
9. Test
• Return to your users for
feedback.
• Even after you start
executing your vision, you
should continue to test the
ideas.
11. Internet Banking
• Rapid transaction
Time Efficient
• Monitoring account from long distance
Easily Accessible
• 24*7*365 available at your home
Time & location constraint
12. Guidelines for Safe Online banking
• Having a strong password and should change the password regularly.Never give
any details in a page where the bank details are not there. Enter the complete
address of the bank site.Not using the Internet banking in the public areas.Not
sharing the passwords with any other friends.
• Today as internet/online era is growing along with the technology, Convenience
of transactions is increasing.But Keep in mind. "Convenience comes at a RISK“
• To prevent such frauds, most banks that offer online banking facility have
adopted 128 bit Secure Socket Layer encryption technology.This ensures the
information exchanged between your computer and the bank's web site is
completely protected.
14. Success of DT in Banking
• CITI Bank, the banking giant that has gone all-
in to explore design thinking; with their
efforts to make each customer interaction
stronger.
• CITI launched its FinTech unit in October 2015
to act like a startup inside a bank that is
dedicated to mobile-first solutions for its
banking customers.
15. Bank of America
• Challenge: Bank of America was looking for a way to increase use of their savings
accounts by customers.
• Solution: They applied the Design Thinking methodology and started engaging
with customers and uncovered that people liked the act of saving more than the
actual amount they save. For example, customers would get the same good
feeling if they deposited $50 a month compared to $600 at the end of the year.
• Outcome: From this insight Bank of America developed the round up concept, a
product that allows customers to save with every transaction that they make.
Customers as a result are able to get that same good feeling after every
transaction. The results were staggering with Bank of America gaining over 10
million new customers and $1.8 billion in savings for them.
16. Phase Result
Finding Insights 1.one woman rounded up her checkbook numbers for easier calculations and a buffer
2.mothers struggle with saving money because they have nothing to put aside, or because of impulse
buying
Brainstorming team of product managers, finance experts, software engineers, and operation experts for brainstorming:
20 brainstorming sessions, 80 product concepts, 1 favored idea
Prototype and Testing a cartoon video displaying the service was shown to 1600 testers and surveyed
Iteration 1.a summary of the rounded-up transactions in the account
2.a feature preventing a rounding-up transfer from pushing the user’s account into overdraft
3.a promotion: Bank of America matches the saving at 100 per cent for the first three month
17. ING Bank
• BANKING SHOULD BE CLEAR AND EASY, banking doesn’t have to be difficult and
time consuming. Less is more. It’s all about clear products, plain language, fair
prices and simple processes. That saves both time and money.
• ANYTIME, ANYWHERE. ING works to get our services where our customers are.
Banking should be possible anytime and anywhere;
• EMPOWER CLIENTS TO MAKE FINANCIAL DECISIONS. The best financial decisions
are informed decisions. Customers want relevant, up-to-date information at their
fingertips. They need to understand their choices, and the implications, both
today and for the future.
• KEEP GETTING BETTER. Life and business are about moving forward. We will keep
looking for new ways to make things better. With new ideas, new solutions and
new approaches to make things easier for our customers. That way, we can all stay
a step ahead.
18. CONCLUSION
• Design thinking is disrupting all industries and it is high time
traditional industries like the banking industry in India and
finance also move towards Design thinking.
• BANKS should implement processes which reliably lead to the
most effective solutions in the shortest time span, in order to
survive in the market.
