Overview | Audience | Outcomes | DT Tools | Duration | Track Record
(1) Course Title and Code
Next-Gen Banking: Design Thinking for Future-Ready Financial Solutions (B-014)
(2) Course Overview
As Millennials emerge as the dominant demographic in the global economy, traditional banking systems face significant challenges in meeting the unique demands and expectations of this digitally savvy and socially conscious generation. This group values convenience, transparency, and customization—qualities that current banking practices often fail to deliver comprehensively, resulting in a gap between customer expectations and the service provided.
Design Thinking addresses these challenges by emphasizing empathy and user-centric innovation. This methodological approach enables banks to deeply understand the specific needs and behaviors of Millennial customers, facilitating the development of financial solutions that are not only technologically robust but also deeply aligned with Millennials’ values of ethical banking, personalization, and digital-first interactions. Employing Design Thinking allows banks to iterate their services quickly and effectively, ensuring that they remain relevant and attractive to a generation that values rapid change and innovation.
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 Focusing on Millennial Markets: Leaders who are specifically tasked with capturing the Millennial segment, looking to revamp traditional banking models to appeal to younger customers.
- Product Managers for Digital Banking Services: Professionals dedicated to designing and refining digital banking products that cater to the preferences of Millennials, including mobile banking apps, personalized financial advice, and seamless online transactions.
- Customer Experience Designers in Financial Services: Strategists and designers focused on crafting banking experiences that resonate with Millennials, emphasizing user-friendly design, sustainability, and ethical practices.
(4) Major Learning Outcomes
- Learn the guiding principles, core values, and execution model of Design Thinking to innovate banking practices that align with Millennial preferences for technology and personalization.
- Empathetic research methods can help us gain a deeper understanding of Millennial financial behaviors and expectations, enabling the creation of tailored, relevant banking experiences.
- Develop the capability to rapidly prototype and test Millennial-focused banking solutions, utilizing agile methodologies to refine these services based on real user feedback.
- Acquire skills in interdisciplinary collaboration to effectively combine insights from technology, finance, and user experience design, creating holistic solutions that meet the nuanced needs of Millennials.
- Enhance strategic thinking abilities to predict and adapt to future trends in Millennial banking behavior, ensuring that financial products remain innovative and competitive in a rapidly evolving market.
(5) Design Thinking Techniques and Tools
Stage 1: Discover
- Vision Statement (Code 102): Participants will craft vision statements to outline their innovative aspirations for Millennial-centric banking solutions, ensuring alignment with technological advancements and personalized service expectations.
- Stakeholder Mapping (Code 202): This tool will enable participants to identify and analyze key stakeholders in the Millennial banking ecosystem, enhancing their understanding of diverse needs and expectations.
- Empathy Interviews (Code 206): Conducting empathy interviews will help participants gain deep insights into Millennial financial behaviors, crucial for designing personalized banking experiences.
Stage 2:Define
- Affinity Diagram (Code 302): Utilizing affinity diagrams will assist participants in organizing and synthesizing insights gathered, helping to pinpoint core issues and opportunities in Millennial banking.
- Persona Design (Code 306): Creating detailed personas will guide the development of targeted banking solutions that resonate with Millennial values and lifestyles.
- Point of View Statement (Code 319): This tool will help frame millennials’ unique perspectives, fostering innovative service ideas that directly address their specific financial needs.
Stage 3: Develop
- Popcorn (Code 401): This brainstorming technique will stimulate rapid idea generation among participants, encouraging creative solutions for Millennial-focused banking services.
- Reverse Brainstorming (Code 404): This method focuses on potential problems instead of solutions, leading to proactive problem-solving and innovative service design.
- Force Connections (Code 412): This technique will challenge participants to create unusual combinations of ideas, leading to unique and innovative solutions for the banking sector.
Stage 4:Deliver
- Service Staging (Code 506): Participants will use this tool to simulate and refine banking service scenarios, ensuring they are effectively crafted to meet the dynamic needs of Millennials.
- Elevator Pitch (Code 513): This technique will equip participants with the skills to succinctly and effectively communicate the value of their innovative banking solutions to stakeholders and potential investors.
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)
- Course Guidebook
- Tool Guide
- Case Studies
- Pre-Course Reading or Watching Materials [Examples]
- 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 business, social service, public 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.
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