B-019: Digital Disruption: Design Thinking for Digital Transformation in Banking

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

(1) Course Title and Code

Digital Disruption: Design Thinking for Digital Transformation in Banking (B-019)

(2) Course Overview

The banking sector is facing unprecedented challenges due to rapid technological advancements and shifting consumer expectations. Traditional banks are pressured to innovate and transform digitally to remain competitive and relevant. In this complex environment, it is essential for banking professionals to develop new strategies that are not only innovative but also customer-centric and agile.

Design Thinking provides a structured framework that empowers organizations to address these challenges effectively. By focusing on human-centered design principles, Design Thinking encourages creative problem-solving and innovation, which are critical for driving successful digital transformations. This approach ensures that solutions are not only technologically sound but also align perfectly with customers’ needs and expectations.

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 Executives: Senior managers and decision-makers who are responsible for steering their organizations through digital transformations.
  • Product Managers: Individuals who oversee the development and management of banking products and services, needing to integrate innovative solutions that enhance customer experience.
  • IT and Digital Innovation Teams: Professionals who execute and manage technology solutions, seeking to align their technological initiatives with broader business strategies.

(4) Major Learning Outcomes

  1. Learn the guiding principles, core values, and execution models of Design Thinking, enabling participants to lead their teams through the complexities of digital transformation.
  2. Acquire practical skills in applying Design Thinking methodologies to real-world banking challenges, fostering innovative solutions that enhance customer engagement and satisfaction.
  3. Develop a deep understanding of customer needs and behaviors in a digital context, using empathetic design techniques to improve service delivery and functionality.
  4. Enhance collaboration across various departments, including IT, marketing, and compliance, to ensure that digital solutions are comprehensive and regulatory-compliant.
  5. Cultivate an adaptive mindset that thrives on continuous learning and improvement, which is essential for staying competitive in a rapidly evolving digital landscape.

(5) Design Thinking Techniques and Tools

Stage 1: Discover

  • Stakeholder Value Mapping (Code 202): This tool will be utilized to evaluate the values and interests of stakeholders in the banking sector, helping participants prioritize needs and align digital solutions accordingly.
  • Empathy Interviews (Code 205): Participants will conduct interviews to gain deeper insights into customers’ needs and experiences, enhancing their ability to design solutions that truly resonate with users.

Stage 2:Define

  • Affinity Diagram (Code 302): This technique will be employed to organize ideas and data gathered during research into themes, which will help in identifying core problems and opportunities in digital banking.
  • Persona Design (Code 306): By creating detailed user personas, participants can better understand the banking industry’s diverse customer profiles, which aids in tailoring digital solutions to specific needs.

Stage 3: Develop

  • Round Robin (Code 411): This technique ensures comprehensive input from all participants, which is crucial for ideating robust digital solutions in the banking sector.
  • Force Connections (Code 412): It drives innovative problem-solving by linking disparate ideas, which is essential for fostering digital disruption in banking.
  • Figure Storming (Code 414): The method allows participants to explore digital banking challenges from multiple perspectives, which is vital for developing transformative solutions in the field.

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