B-020: Regulatory Creativity: Banking Process Improvement Through Design Thinking

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

(1) Course Title and Code

Regulatory Creativity: Banking Process Improvement Through Design Thinking (B-020)

(2) Course Overview

Stringent regulatory requirements often pose significant challenges to process improvement and innovation in the banking sector. Traditional problem-solving methods can be slow and inflexible, struggling to keep pace with regulators’ and customers’ fast-evolving demands.

Design Thinking offers a dynamic solution to this dilemma by promoting a flexible, creative, and systematic approach to innovation. This methodology not only meets regulatory standards but also enhances customer experience by fostering a deeper understanding of user needs and encouraging iterative, user-centered development.

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

  • Compliance Officers and Regulatory Professionals: Individuals tasked with ensuring banking processes adhere to laws and regulations will benefit from learning how to integrate compliance into innovative service designs effectively.
  • Process Improvement Specialists: Professionals focused on enhancing banking operations will learn to apply Design Thinking to streamline workflows and introduce efficiencies while remaining compliant.
  • Product Managers and Development Teams: This group will gain insights into using Design Thinking to create or refine banking products that satisfy both regulatory requirements and customer expectations.

(4) Major Learning Outcomes

  1. Learn the guiding principles, core values, and execution models of Design Thinking tailored to the banking industry’s specific challenges.
  2. Acquire skills to apply empathetic techniques that deeply understand regulatory constraints and customer needs for improved compliance and satisfaction.
  3. Develop capabilities in rapid prototyping and iterative testing to reduce time-to-market for compliant banking solutions.
  4. Enhance interdisciplinary collaboration skills among teams, including IT, marketing, and compliance, to foster innovation that adheres to both practical and regulatory demands.
  5. Foster a culture of continuous regulatory innovation that adapts swiftly to changes in market conditions and regulatory environments.

(5) Design Thinking Techniques and Tools

Stage 1: Discover

  • Stakeholders’ Power-Interest Matrix (Code 204)
    Use this matrix to prioritize stakeholder engagement based on their level of interest and power, enabling targeted communication strategies that are essential for effective project management.
  • Empathy Interviews (Code 205)
    Conduct deep discussions with both regulators and customers to understand their specific needs and concerns, providing insights that align with learning to understand regulatory constraints and customer needs deeply.

Stage 2:Define

  • Empathy Map (Code 305)
    Apply this tool to synthesize user data visually gathered from empathy interviews, aiding in the deeper comprehension of customer and regulator perspectives.
  • Journey Mapping (Code 309)
    This tool visualizes the customer or regulatory journey to pinpoint pain points and moments that matter, helping to identify areas for improvement in banking processes.

Stage 3: Develop

  • Mind-Mapping (Code 402)
    Engage this tool to foster creative and structured brainstorming among teams, aiding in the generation of innovative solutions that meet regulatory requirements.
  • Crazy 8 (Code 407)
    This rapid ideation tool encourages participants to sketch eight distinct ideas in eight minutes, promoting a high volume of ideas and enhancing creative thinking.

Stage 4:Deliver

  • Paper Prototyping (Code 501)
    This tool is used to quickly create and iterate banking process models, allowing for rapid visualization and refinement of ideas.
  • Usability Testing (Code 515)
    Implement usability testing to evaluate prototypes and ensure they meet user expectations and compliance standards.

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