epsilon digital assessment
TRANSCRIPT
1
Digital Transformation of Financial ServicesHow Digital is revolutionizing everyday banking
2
1 Introduction| Changing Landscape of Digital Banking
2 Digital Customer| Customer’s Power of Digital
3 Epsilon| Current State and & Objectives
4 Methodology| Our Process
5 Our Proposition| How we do it?
6 Appendix| UX Artifacts
Contents
3
Introduction| Changing Landscape of Digital Banking
With the emergence of integrated digital platforms, financial institutions are transforming their business models to keep pace with the changing behavior and preferences of customers.
Banks are moving from pure transactional providers to being a trusted partner through-
Advanced multichannel integration
Persuasive analytics and predictive modelling
Real time interactions and increased conversation
Advisory services
‘Digital’ is driving the Customer experience revolution.
4
Digital Customer| Customer’s Power of Digital
For most customers, their everyday lives and digital lives are interwined; so much so, that Oxford dictionary has officially added ‘digital detox’ to its online dictionary.
5
Digital Customer| Customer’s Power of Digital
Digital customers are redefining customer mindsets, purchase patterns and interaction levels that companies are trying hard to adapt and keep up with this new wave of users.
Mobility on the rise • 7.5 million Australians using
the internet via their mobile phone during June 2013, an increase of 33 per cent (or ten percentage points) compared to June 2012
With a plethora of devices at hand and information overload, users are now looking at simple, easy to access and intuitive interfaces for their banking needs- Superior user experience will thus be a key differentiating factor
Tweet and RepeatUsers have become more conversant and interaction with the brand has gone to another level with the advent of social media. “
”http://www.acma.gov.au/theACMA/Library/Corporate-library/Corporate-publications/australia-mobile-digital-economy
6
71% consider their banking relationship to be transactional rather than relationship driven
51% want their banks to proactively recommend products and services for their financial needs
48% are interested in real time and forward looking spending analysis
Digital Customer| Customer Expectations and online banking challenges
*2014 North America Consumer Digital Banking Survey
7
Case Study: Epsilon Pty Ltd
8
Epsilon| Current State and & Objectives
Analysis
• Site receives significant number of visitor hits from mobile devices
• Lower user session time • Lower number of pages hit
• Customers are mobile savvy and looking for banking services from their devices
• Current site does not completely meet their demands(low session time, page hit)
Observation
Engagement Objectives
1 Understand target users needs, pain points, expectations for service offerings
2Understand target user device preferences
3Understand the challenges of business owners, their goals and objectives
4Create and validate the prototype design
9
Methodology| Our Process
Research Design Test and Validate
Designing a superior user experience, which delivers the business KPIs, starts with a research phase that covers the following:
1. Business
2. User
3. System
4. Brand
Findings from the Research phase are analyzed and forms the foundation to the next phase:
1. Create HTML Prototype for one user journey (about 3-4 pages) which will work on the devices identified (web / tablet / mobile)
The designs created need to be validated with users, business owners to fully study the impact of the newly envisioned designs
1. Gather Feedback from users and stakeholders
2. Observational Analysis
10
Vision (Long & Short Term)
Business Objectives
Target Audience
Stakeholder Expectations
KPI Definition
Face-to-Face Interviews
Branch Audits
To bring key stakeholders together and involve them in a discussion about their expectation. The criteria which they believe can make the product a definite success.
Methodology| Business Research
ACTIVITY OBJECTIVE OUTCOME
11
User Journeys
User Goals
User Pain Points & Need Gaps
Mystery Shopping
Ethnographic Research
Contextual Inquiry
To interact with users of Epsilon who access the site (primarily focusing on High Networth Individuals)The discussion will revolve around identifying their usage patterns, delight factors, challenges, need gaps & other requirements
Methodology| User Research
ACTIVITY OUTCOMEOBJECTIVE
12
Functionality Categorization
Prioritization
Complexity Definition
Application Walkthrough
Technology Platform Study
Workflow Analysis
Usability RecommendationTo understand the overall system workflow, user groups involved and their touch points; in order to analyze the end to end business processes vis-a-vis customer journeys, their degree of alignment, and associated context at each step.
Methodology| System Research
ACTIVITY OUTCOMEOBJECTIVE
13
Positioning
Core Brand Values
Brand Language & Tone
Brand Book
Brand Audit
Competitive Benchmarking
An extensive exercise to understand the brand and industry trends through studying the immediate competitors across different geographies to ensure the output is best-in-class and leading the curve.
Methodology| Brand Research
ACTIVITY OUTCOMEOBJECTIVE
14
ACTIVITY
Wireframes
HTML Prototypes
OUTCOME
Design
To design prototypes for a simple 3-4 page user journey, highlighting the interactive features, new offerings for the intuitive site. Walkthrough the design with small set of users and business owners to gather feedback
Feedback
Validate
Methodology| Prototype Design and Validation
OBJECTIVE
15
TEAM
For this project we anticipate following roles to support this engagement
1 Lead Consultant 2 UI Consultants 1 UI Designer
TIMELINES
We plan to complete the assessment in 12 Weeks.
We are prepared to kick-off the project within 20 business days of final work contract.
COMMERCIALS
We anticipates a pricing of around USD 160,800 for this Digital Assessment.
Note: Final pricing will depend on the actual scope and timelines of the engagement.
Our Proposition| How we do it?
Microsoft Excel Worksheet
16
Appendix: UX Artifacts
Jane is a 38 year old working professional. She is married and has a 3 year old daughter. She is has just been promoted as the Marketing Head of an international cosmetics brand based in Sydney, Australia.
• Jane has a hectic schedule and is always on the move because of her job
• She is tech-savvy and uses her smart phone, tablet and laptop to stay connected, to browse for information and trends and to stay updated.
• She endorses online banking as she finds it convenient; be it to check her finances or pay her bills
• Jane has low tolerance to sites which are not user friendly. She is on the lookout for banking site that will cater to all her needs at one place
Jane holds 2 accounts with Epsilon and 1 with Commonwealth Bank of Australia. She is hoping to consolidate all three account in one back. She is currently assessing the online features available with these banks.
From a banking site, She Expects
Mobile and Tablet Optimized
Single Window for all accounts
User Friendly Interface
Expert Advice and investment tips
Personalized services and offerings
User Persona
18
Trustworthy
Reassuring
Connected
A mood board is to visual design what a storyboard is to animation. It visually depicts the mood we intend to create from our design concepts.
Moodboard
Helpful
Seamless
19
Home Bank Cards Loans Invest Careers Locate Us
Accounts Summary
Cash
Credit
Loan
Investment
S$ 3000
S$ 500
S$ 0
S$ 2000
T. Assets S$ 5000
T. Debt S$ 500
Net Worth S$ 4500
Accounts Summary
Jan Feb
MarApr
May Jun Jul AugSep
OctNovDec
2000
4000
6000
Edit Accounts
Average Net Worth: S$ 4000National. Average: $S 3000
Net Worth per month: 2013-2014
Total Debt Distribution
Customize your dashboard today. It is easy and convenient like never before!
Cash Inflow Trend
Customize
Create a Budget
Mange you finance using our new ‘Budget’ feature.You can set up budgets, get organized for tax season and track spending in all your accounts
View
Welcome Jane!
Get connected to the Experts!Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Aenean commodo ligula eget
Connect Me
Proof Of Concept | Web
Input Keyword
20
Proof Of Concept | Mobile
Accounts Summary
Cash
Credit
Loan
Investment
S$ 3000
S$ 500
S$ 0
S$ 2000
T. Assets S$ 5000
T. Debt S$ 500
Net Worth S$ 4500
Edit Accounts
Create a Budget
Mange you finance using our new ‘Budget’ feature.You can set up budgets, get organized for tax season and track spending in all your accounts
View
21
Proof Of Concept
