Increase Foot Traffic at Banks

Summary

As part of a group project for University, we pitched a design concept to Commbank that focused on Millennials. Our concept aimed to boost foot traffic at Commbank’s physical branches.

User Research
UI

My Role

Collate and analysed the research. Organised and delegate tasks between our team members,  Iterated over the design concept.

Platform
Year

Design Concept

2015

About the Project

This project was a university assignment that focused on CommBank, for our “Design Innovation” unit. Along with our team members we worked on the project for approximately 10 weeks in 2015 where we conducted research, analysed the data, designed, iterated and pitched our final concept to the company.

Team Members

Nina Osada-Phornsiri, Sarah Hearne, Gawshika Aumkaran and Cayla van Wyk.

Problem Statement

“What physical distribution alternative could CBA build to ensure the Branch network stays relevant over the next 10 years”
About the Target Audience

Our concept was targeted towards Millennials, specifically those born between 1989-1999. We wanted to focus on Millennials because they’ll need a large range ofsupport and financial advice in their future. As a technologically reliant generation, attracting Millennials to a physical branch can be a challenge. Hence, there is greater emphasis to create a a better banking experience for meet their current and future needs.

Design Process

Research Methods & Findings
Observation & shadowing
  • Observed banks where millennials usually visit e.g. the CommBank at SydneyUniversity
Online survey
  • Posted a questionnaire to reddit
Competitor research
  • Researched how other companies like ASOS and After-pay target Millennials
One-on-One interviews

Conducted two rounds of interviews

  • First round of interviews focused on user's current interactions with the bank and identify pain points they face in the physical space.
  • Second round of interviews delved for insight into millennials and their needs
Findings
Observation & shadowing
  • Most Millennials prefer to frequent banks in their local area. There are more millennials at Sydney University Commbank compared to Greater Bank and Westbank
Online survey

Common trends:

  • Millennials would approach their parents first before conducting online research about a bank
  • They highly value customer service
Competitor Research
  • ASOS: Uses social media like Instagram and Facebook to connect with their users and share their content
  • After-pay: Send users notifications of upcoming payments and remind them of their available services
One-on-One interviews
  • Interviews were transcribed and common paint points and insights were highlighted.
Collate findings into an affinity diagram
Summary of Insights
  • Millennials highly valued customer engagement online, shown by ASOS and Afterpay
  • Interviews have shown that they trust their parents over online research
  • Millennials preferred to speak to a familiar face to make the process feel more personalised

Design Process

Trust is key for our concept, so we have focused heavily on the one-on-one relationships between staff and the customers of the bank. We believe building a strong and personal relationship will allow customers to feel less anxious towards big banks and make them more likely trust them for their financial needs. We have designed three elements which go together to help build this relationship.

Final Design

1. Social Media

The first element is social media advertising by what we call the ‘Financial Doctor’, who will be the social media face of our program. The doctor would use social media and promotional videos to excite users and get them interested enough to start thinking about their own finances.

Images above are examples of social media posts made for the financial doctor.
2. CommVentions

The first element is social media advertising by what we call the ‘Financial Doctor’, who will be the social media face of our program. The doctor would use social media and promotional videos to excite users and get them interested enough to start thinking about their own finances.

3. Getting to know a employee

The last element is a one-on-one schedules appointments with a financial expert at your local branch. Users can book an appointment through the CommBank app, and the app will recommend the employees who is specialised in a specific field. These meetings would allow a greater insight into the Milenlials financial needs and help them create clear financial plan for the future.

Storyboard of User Journey

This storyboard shows how all three elements of our design concept will work together.

How did the project go? 

Our project was ranked third. Based on the feedback, we got a lot of points for our marketing approach. We could've got more points if we utilise the physical space, one of the identified problems. So one thing I learned from this project: address the main design problems.