Overview | Audience | Outcomes | DT Tools | Duration | Track Record
(1) Course Title and Code
Next-Level Banking: Innovating Customer Experience with Design Thinking (B-017)
(2) Course Overview
In today’s competitive financial landscape, banks are facing the challenge of not only attracting but also retaining customers as the demand for personalized and seamless service experiences grows. Traditional approaches to customer service and product offerings are proving inadequate in meeting these evolving expectations.
Design Thinking offers a solution to these challenges by emphasizing empathy, collaboration, and iterative learning. This human-centered approach to innovation allows banks to deeply understand their customers’ needs and develop solutions that are not only effective but also delightful, ensuring loyalty and enhancing overall customer experience.
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 and Managers: This group includes decision-makers seeking to enhance their institution’s customer retention and satisfaction rates through innovative strategies.
- Customer Experience (CX) Professionals in Banking: Individuals tasked with designing and improving the customer journey across banking products and services.
- Product Development Teams in Financial Institutions: Teams focused on creating new banking products or refining existing ones to better meet customer expectations and needs.
(4) Major Learning Outcomes
- Learn the guiding principles, core values, and execution model of Design Thinking to apply them effectively in enhancing banking customer experiences.
- Understand how to employ empathetic research methods to uncover deep insights into customers’ financial behaviors and preferences.
- Develop the capability to prototype and test banking solutions rapidly, facilitating quick iterations based on user feedback to improve product-market fit.
- Gain skills in interdisciplinary collaboration and team-based creativity to enhance the development and implementation of innovative banking solutions.
- Acquire strategic thinking abilities to foresee future banking trends and align solutions with anticipated customer demands and technological advancements.
(5) Design Thinking Techniques and Tools
Stage 1: Discover
- Extremes and Mainstreams (Code 103) can be utilized to map out and analyze the diverse perspectives and behaviors within a target population, identifying both niche and widespread trends that inform strategic decision-making.
- Stakeholder Mapping (Code 202) helps identify and analyze key stakeholders in the banking ecosystem to understand their influence and interests.
- Empathy Interviews (Code 205) are conducted to delve deeper into the emotional and practical needs of customers, gaining insights that drive empathetic solution design.
- Emotional Immersion (Code 214) involves the banking teams immersing themselves in the customers’ emotional experiences to understand better the emotional triggers associated with banking services.
Stage 2:Define
- Clustering (Code 301) is utilized to organize and synthesize research findings into meaningful themes that highlight customers’ needs and pain points.
- Persona Design (Code 306) creates detailed profiles of typical banking customers, which guide the development of targeted solutions.
- Point of View Statement (Code 318) articulates a clear and focused declaration of the user’s needs, which guides the ideation process in aligning with customer expectations.
Stage 3: Develop
- Popcorn (Code 401) is used to rapidly generate a wide range of ideas by encouraging spontaneous and quick contributions from all team members.
- Reverse Brainstorming (Code 404) challenges the team to think inversely about the problems, leading to creative solutions and overcoming perceived limitations.
- Force Connections (Code 412) fosters creative thinking by deliberately combining unrelated elements, which can lead to innovative banking solutions.
Stage 4:Deliver
- Storyboards (Code 503) can effectively map out and critique specific sequences of customer interactions. This fosters a deeper understanding of how design decisions impact user satisfaction and engagement, which is essential for creating more intuitive and customer-friendly banking interfaces.
- Elevator Pitch (Code 513) empowers participants to articulate the unique value propositions of their innovative solutions succinctly. This ensures that these ideas are compelling and easily understood by stakeholders, which is crucial for securing support and resources for development and implementation.
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.
For more Design Thinking Courses for Other Sectors and Management Areas, please click here
