Agile Customer Design Research for FInancial Services

3. You have … INNOVATION AND JAMS An active innovation program, teams that create a strong pipeline of ideas, regular jams that result in prototypes that excite…. CUSTOMER LABS A customer centric aim, a customer design lab – expensive, sexy, a place where the cool people hang… A place starting to develop ideas, and where occasionally despite process you actually bring customers… DIGITAL STRATEGY You use the word omni- channel a lot – and aim for cross device functionality – you are starting to create experiences that work well across some channels… MARKETING Your marketing team is evolving, they produce and query data, they manage your social networking, they provide data about customers…

4. The challenge So why … ARE START UPS STILL BEATING BANKS AT INNOVATION HAVE WE NOT ROCKED THE WORLD DO INNOVATIONS OFTEN NOT MAKE IT TO BAU HAVE WE FAILED TO REDEFINE ADVICE ARE THE IDEAS WE COME UP WITH BORING

5. What if … IT WAS ABOUT MORE THAN BANKING?

6. SIMULATION PLAY REAL PEOPLE 1 ‘Stage’ or context 2 Resources 3 Creativity

7. Experiment, collaborate As innovation should be…

10. What is a connected store? RETAIL EVOLUTION LABS WITH AOPEN

11.

12. Beyond bets - knowing what will happen ITERATE and stress test products quickly based on market conditions BUSINESS SIMULATION AGILE INFRASTRUCTURE DATA DEMOCRACY TEST EARLY at scale without affecting BAU NEW DATA STRATEGIES that empower and add value to the business

13. Services Framing real questions SIMULATION PROTOTYPING ITERATION THE LAB IS DESIGNED TO SIMULATE EXPERIENCE IN CONTEXTAND MOVE BEYOND PRODUCT DESIGN INTO THE DESIGN AND DELIVERY OF COMMERCIALLY SUCCESSFUL CUSTOMER EXPERIENCES

14. Tangible experience Understanding behaviour, colliding ideas POSITIVE Beyond bias, real customers in context using your products securely. An understanding not just of devices but of the interplay between devices. DIFFERENT Allow a feed of curiosity from the business. It is cheap enough to test ideas regularly. It fits on the back of a truck and acts like a social trigger..

15. Ideas collide Networks create wealth

16. Our top priorities Listen, learn and measure from day one Using real customers, real contexts creates real answers Be human, empathetic and brave Create a challenge pile of questions Build value exchanges Questions democratise data and generate ideas

17. Harriet Wakelam Principal CX Strategist Capco +61 413 631 662 (mobile) harriet.wakelam@capco.com Harriet.wakelam@gmail.com @hwakelam @capco_finserv http://www.linkedin.com/in/hwakelam

Notes de l'éditeur

I’M interested in how things work – the THRESHOLDS – I hear what about mobile – what about tablet – but what is really fascinating – is the threshold between experiences Iinet If you crea the integration of experiences – beyond product – The other day I was working with a large Aussie corporate – and we came up with some wonderful ways to improe an experience – but the ownership of the ideas is a problem. What happens if you tell
I would like to make some reasonable assumptions about the environment you work in… Great teams, you sponsor innovation competitions, you are on social media, you have ‘excutive buy in – MOSTLY But somehow things move a bank like pace – somehow pace change, place change, those pesky start ups are just beating you no matter how much you want to be like them. It’s like those friends at parties – you want to be them, you buy the dress, you drink the drink – but there’s that ‘essence’ that’s just not there – you’re still you STRUCTURES OF BANKS PREVENT INNOVATION – IT’S MY IDEA… .
Things still move slowly – and much of this innovation is bets not facts. Things grind to a halt at BAU COURAGE – PIPELINES What is the customer doing & how can a bank respond with confidence? Analytics and research inform the business about ways to respond to unmet customer needs ACTION VS VANITY Perfect closed loop networsk So much investment, so many great teams, so much creativity, but are the ideas actually making it through the walls.. Do you have a pipeline of innovations that get trapped at testing/BAU, as an innovator do you find that things stop once things get serious – as BAU, do you wonder why people don’t understand your world.. Your innovation team produces ideas, your CX team does work – they test, they try to bring in customers and justify budgets that cost a lot up front – you try to get $50 k to evaluate a concept that cost $100 k to come up with. You try things out – but you are forced to test with family and friends and with internal staff – and you get what Alex Pentland discusses as closed loop networks – the same ideas circulate – you try to build nutmeg – meniga – and the paradigms don’t shift –
WE agree that problems are complex, wicked even – So to the market that solves real business problems differently? HELP WIN OVER THE BUSINESS PREVENTION TEAM – BECAUSE YOU CAN’T ARGUE WITH EXPERIENCE DATA get data to validate ideas evaluate early concepts at scale scale rapidly for speed to market What if it was about theatre – what Pentfold cals the random collison of ideas – what about if it’s ending lcosed loop networks. Messier than this IMAGINING THE IMPOSSIBLE – BUT THAT IS UNCOMFORTABLE
In any product and service innovation process there is a need for ongoing insights about customers, behaviour, products and services. Innovation in context can be expensive, requiring recruitment, specialist equipment and staffing but that can be expensive and complex. How do we evaluate whether our assumptions about the expected value and experience of a proposed product or service will be realised in practice? The mobile lab supports the customer centric design process with an agile customer research solution that encourages collaboration internally helping to: Deliver robust ideas to market faster though early evaluation Identify and solve deep problems for customers. Gain data early ensuring innovation is driven by knowledge as well as ideation Uncover insights and opportunities rapidly and cheaply . Generate curiosity amongst stakeholders and customers Understand and discard non-viable concepts early.
How do we keep agile.. DOING NOT THINKING DOING THINGS DIFFERENTLY!!!!! Often products and services are designed from an organizational perspective. The motivation for decisions that impact how a customer will experience a product are often driven from organizational perspectives including process redesign, technology transformation, revenue targets. The mobile lab uses design research to allow customer insights to emerge within a defined service context. It is specifically undertaken to support the strategic design and development of products and services in context. NETWORK S – HOW DO YOU CREATE SYSTEMS THAT GENERATE INNOVATION HOW DO YOU CONNECT PEOPLE – HOW DO YOU CONNECT STRATEGY, QUESTIONS -
CONNECTORS “How do we gain customer data on a product that hasn’t yet been built to more accurately develop business cases?” “What is the economic model for a self-serve advice model? How will customers engage with online banking services instore? Will customers explore the new self-service options willingly - how can we help it feel more engaging? “ CONNECTORS – WHERE DO CONNECTORS CONNECT – IN CONTEXTS – SOCIAL PHYSICS – IF YOU TALK TO EVERYONE YOU INCREASE PRODUCTIVITY SPEED TO MARKET
What if you could…What happens in a lab – what happens when you simulate not Modeled around the pop-up store concept, the Lab is designed to deliver agility to customer research capability. You cost effectively obtain customer data in real contexts (shopping centres, branches, pop-up shops) as you iterate innovation projects. It enables brands to evaluate how they attract, engage, provide service and inform customers, by simulating not just one device but an interaction ecosystem between multiple devices in context. The lab enables rapid prototyping and simlation through plug and play touch screens and tablets that collect data from all interactions. All interactions are secured through an html layer, set up in 24 hours in a location of your choice. .....flexible in context, designed for iteration, the lab layout and content can be changed based on feedback. For example an ATM gamification zone & self service can represent concierge services the next. A flexible and adaptible delivery system, possibility of multiple configurations, state of the art technology and data capability, dress and prop all parts to suit location or client. Track lighting can be hung – can create larger more commercial areas. 24 hours – fits in a shipping container. Data fast The random collision of ideas and pratices and behaviours – thinking and doing in new ways.
“How do I max- aimise the organi- sational benefits of data, and investment in data strategy? ” What is the Retail Evolution Lab 2? Capco is partnering AOPen to build the lab – partnering the best of financial services with the bsest of technology and data WHAT IF RETAIL SHOPPING IS ABOUT CONNECTIONS – WHAT IF IT’S NOT ABOUT INFORMATION OR PRODUCTS, BUT ABOUT CURATION OF RELATIONSHIPS What If we also used the best of technology. The Lab is a major initiative of Aopen, one of the world’s leading providers of digital media technology. It looks and feels like a retail store and café. Its main purpose is to demonstrate to clients how digital technology can be harnessed in the physical space. Retailers and shopping centre owners can experience first hand how the concept of “the connected store” will improve the customer experience. Venue operators of restaurants, bars, cafes, clubs and pubs can touch and feel the technologies that are being rapidly adopted by the emerging “omni-customer”. The Retail Evolution Lab has brought together Aopen’s digital media technology and the retail and hospitality design capability of the RED DESIGN GROUP, one of Australia’s foremost design practices. The Lab also hosts key strategic partnerships with firms such as Intel, Blocks Global, IE and Ordermate, all of which have contributed to the development of the Retail Evolution Lab.
It looks and feels like a retail store and café. Its main purpose is to demonstrate to clients how digital technology can be harnessed in the physical space. Retailers and shopping centre owners can experience first hand how the concept of “the connected store” will improve the customer experience. Venue operators of restaurants, bars, cafes, clubs and pubs can touch and feel the technologies that are being rapidly adopted by the emerging “omni-customer”.
Seamless transitions across from concept to development – align the passwords – NQUISITIVENESS & CURIOSITY What is the customer doing & how can a bank respond with confidence? Analytics and research inform the business about ways to respond to unmet customer needs Democratisation of innovation frameworks, data, ideas Creating things that are standard, but bespoke in the way they plug into the brand of the organisation. Fluffy to meaty – using data driven approaches to design take us from FLUFFY to MEATY From what might happen to what will happen BENEFITS Risk reduction Speed to market Validation & certainty Impact testing at scale Collaborative change Market responsiveness New insights and data. new back end data..data backed innovation ..speed to market enabled by rapid response pipeline BENEFITS Risk reduction Speed to market Validation & certainty Impact testing at scale Collaborative change Market responsiveness New insights and data. Supports.... CIO CMF Agile Infrastructure ..new back end data..data backed innovation ..speed to market enabled by rapid response pipeline BENEFITS Risk reduction Speed to market Validation & certainty Impact testing at scale Collaborative change Market responsiveness New insights and data. Business Simulation and Agile Infrastrcture creates democratisation of data. How can we design new data strategies that empower and add value to the business knowl- “How do I max- aimise the organi- sational benefits of data, and investment in data strategy? ” S
The mobile lab uses design research to allow customer insights to emerge within a defined service context. It is specifically undertaken to support the strategic design and development of products and services in context. Real data in the form of heat-maps, dashboards, customer pathways and work-flows. Alignment with your existing data sets through API feeds. Challenge questions derived from uncovering unmet customer needs that will inspire further innovation in the organisation. Rapid iteration of project concepts into tangible prototypes regardless of start point. Moving beyond product into capability, process and technology diagnostics adding value to internal expertise ...getting better value from • our data • ...creating new value exchanges ..rapidly creating new services • and products Iterate rapidlyRefine customer propo- sitions rapidly, with real customers & at scale Simulation of market & customer conditions . new back end data..data backed innovation ..speed to market enabled by rapid response pipeline BENEFITS Risk reduction Speed to market Validation & certainty Impact testing at scale Collaborative change Market responsiveness New insights and data. Lets imagine we have a question – why does it take so long to get a passport What if we could find out quickly what actually happens – and within a week have prototypes up and running What would that conversation look like – empowerment, curiosity – staff and people
Maximise your data strategists - encourage questions that can be answered Credit cards and Internet banking – why aren’tpeople signing up – Who is shopping online The pathways across your networks are often not immediately evident
What might you do Remove 16 steps form an onboarding experience Change wealth to curation Identify that banks are currejntly irrelevant to the mortgage process That we have created a situation where everybody lies Where a call back is as important as a

Agile Customer Design Research for FInancial Services

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