B-012: Banking Reimagined: Creative Problem Solving with Design Thinking

Overview | Audience | Outcomes | DT Tools | Duration | Track Record

(1) Course Title and Code

Banking Reimagined: Creative Problem Solving with Design Thinking (B-012)

(2) Course Overview

The financial services industry faces challenges like rapid technological advancements and evolving customer expectations. Traditional methods often fall short, making Design Thinking essential. This methodology fosters a user-centric approach and encourages innovation that aligns with customer desires and regulatory frameworks. It empowers banking professionals to devise practical, innovative solutions that enhance customer satisfaction and meet industry standards.

Participants will explore various phases of Design Thinking, applying lessons to real banking scenarios. This hands-on approach helps learners apply theoretical concepts and develop practical skills necessary for transformation in their organizations. By fostering interdisciplinary collaboration and continuous innovation, the course equips professionals to remain competitive and responsive in a rapidly changing industry.

In fact, we successfully led a bank in retaining their high-value customers through a Design Thinking-based customer experience enhancement project, resulting in over $3 billion in additional income from deposits, investments, and insurance services. Additionally, we guided an insurance company in enhancing its social selling model, achieving a 127% increase in the closing rate from new clients. These successful projects were published in the Hong Kong Design Thinking Business Casebook 2019 and 2020.

(3) Targeted Audience

  • Banking Sector Executives: This group includes C-level executives and senior managers who are responsible for driving strategic initiatives and fostering a culture of innovation within their organizations.
  • Financial Product Managers: Professionals involved in the design, development, and management of banking products and services, looking to incorporate user-centered design principles.
  • Digital Transformation Specialists: Individuals tasked with integrating digital technologies across various banking processes and customer touchpoints.

(4) Major Learning Outcomes

  1. Learn the guiding principles, core values, and execution models of Design Thinking tailored for the financial services industry
  2. Utilize empathetic techniques to deeply understand customer needs and behaviors to enhance financial product designs
  3. Develop rapid prototyping and efficient testing skills to decrease time to market while ensuring products meet user expectations
  4. Enhance interdisciplinary collaboration among teams such as IT, marketing, and compliance to scale innovations that are both practical and regulatory-compliant
  5. Foster a culture of continuous innovation that adapts to changing market conditions and regulatory environments in the banking sector

(5) Design Thinking Techniques and Tools

Stage 1: Discover

  • Stakeholder Mapping (Code 201): Trainees will identify and map key stakeholders in the banking sector to understand their influence and expectations, which will help in tailoring financial services to meet diverse needs.
  • Empathy Interviews (Code 205): Participants will conduct interviews with real customers to gain deeper insights into their emotions, experiences, and needs, fostering an empathetic understanding that is crucial for designing user-centered financial products.

Stage 2:Define

  • Persona Design (Code 306): This tool creates detailed profiles of typical customers, helping visualize the target users, their needs, and how they might interact with the financial products.
  • Journey Mapping (Code 309): Course participants will map the customer journey to identify pain points and opportunities in the current banking experience, which is essential for enhancing service delivery.

Stage 3: Develop

  • Reverse Brainstorming (Code 405): This technique will challenge participants to consider what could go wrong with current banking solutions and brainstorm ways to prevent these issues, fostering a proactive approach to problem-solving.
  • Brainwriting (Code 410): Encourage quiet reflection and idea generation among team members without the pressure of speaking in a group, ensuring that all voices are heard and diverse ideas are captured.

Stage 4:Deliver

  • Service Blueprint (Code 506): This tool will map out all the components of a service, including customer interactions and back-end processes, ensuring that new banking services are designed for both front-end appeal and back-end efficiency.
  • Minimum Viable Product (Code 510): Participants will learn to develop and refine a minimal yet functional version of a product to test market hypotheses and gather user feedback quickly, which is vital for agile development in the financial sector.

Remark: All the techniques and tools utilized in our training programs can integrate Artificial Intelligence (AI) and Big Data technologies to enhance innovation efficiency by up to 40%. This includes AI-driven User Demand Identification and Prioritization, Quantitative User Emotion Analysis, and AI-driven Innovative Idea Generation and Feasibility Analysis.

(6) Learning Materials (for Training Workshops)

  1. Course Guidebook
  2. Tool Guide
  3. Case Studies
  4. Pre-Course Reading or Watching Materials [Examples]
  5. Post-Course Continue-Learning Materials

(7) Deliver Modes and Durations

Our training programs boast exceptional adaptability. Offerings range from concise 2-hour introductory talks and 4-hour training courses to comprehensive 8-hour to 15-hour action-learning workshops and 30-hour project-based workshops (or Design Sprint Mini-Innovation Projects). This flexibility allows us to precisely tailor each session to meet your specific needs and schedules, ensuring that our training is both highly effective and strategically aligned with your organization’s objectives.

In addition to our training services, we also offer internationally recognized Design Thinking skill Assessment Services. These assessments are designed to help your staff identify and bridge gaps in their innovation competencies, further enhancing their effectiveness and your organization’s competitive edge.

(8) Track Record

Since 2017, we have successfully delivered more than 550 Design Thinking training classes across various sectors, including businesssocial servicepublic service, and education throughout Hong Kong, Mainland China, and Asia.

As the exclusive representative of the globally renowned DesignThinkers Academy in China, we offer programs that not only provide internationally recognized Design Thinking certifications but are also facilitated by globally accredited specialists in Design Thinking. Our commitment to excellence ensures that each program meets the highest standards, tailored to empower professionals at all levels with cutting-edge skills and innovative methodologies.

For more Design Thinking Courses for Other Sectors and Management Areas, please click here