This challenger bank wanted to develop a current account that would stand out from competitors and attract savings in this crowded market.
Starting from a blank sheet of paper we provided the voice of the customer through three phases of design. Initial qualitative work with businesses established the essential underpinnings and enabled focus on some key customer segments of small business. Initial ideas did not go well but co-creation with customer sparked original thinking by the team and the creation of a highly innovative and value adding solution for contractors and other workers in the flexible knowledge economy – a large and rapidly growing sector.
Our work involved:
- Co-creation
- Qualitative research
- Quantitative research
- Market modelling and business case
- Proposition and MVP development
- Communications development
Our work delivered:
We helped develop the segmentation, proposition and customer communication. We established through quantitative research that the account would be attractive to savers, command a fee and be a commercial success. To help define and cost the development we designed the Minimum Viable Proposition (MVP).
