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How might we help

banks build stronger customer relationships?

Portfolio Analytics


Overview

The only way to keep your customers is to anticipate their individual needs and be their trusted advisor. Personalization can be difficult for banks to deliver. Not because they lack the desire, but because legacy systems, regulations and their own bureaucracies confine them to the traditions of the past.

The demand for a well-built solution is growing, since providing a personalized customer experience was ranked as the number one trend, as well as top strategic priority, in the survey of global banking leaders.

My role

User research
Lead designer
Interaction designer
Visual designer
Prototype

Platforms

Desktop web
Mobile web

Year

2015

challenges banks face
with their customer relationships

Lack of data knowledge

Not flexible

Not personalized

In this digital age, delivering a personal banking experience that differentiates and drives more business is going to take data.

However, the data that banks and credit unions require to personalize the experience typically resides in disparate systems, each serving only one specific delivery channel and/or product silo. As long as this data remains siloed, it will be extremely difficult to provide a superior and personalized banking experience.

That's where Portfolio Analytics comes in.

how might we help banks to deliver a more personalized experience for their customers?

Leverage data

Channel flexibility

Enhanced customer journey

Our vision for Portfolio Analytics was to be the tool for Relationship Managers to use when dealing with customers. We did not want to offer an exhaustive list of irrelevant data, rather wanted to focus on the most critical KPIs. We envisioned the future of banking to be deeply personalized to customers' needs.

Goal #1

Leverage advanced analytics, machine learning and contextual engagement to provide a highly personalized experience by delivering uniquely personalized product offers.

Goal #2

Increase retention by identifying and targeting clients exhibiting attrition risk behaviours. Minimize channels cost by identifying and incentivizing activity with lower-cost channels.

enhance customer experience

Portfolio Analytics turns data into actionable insights, empowering Relationship Managers to identify customer behaviours and characteristics — and then make prescriptive recommendations to maximize product cross-sell, minimize channel costs, and enhance customer experience.

Content planning

I performed a hierarchical card sort with 10 participants. My aims were to understand how bankers thought about different categories of content and what was most important to them in the context of customer relationship.

Feature planning

An equally important design challenge was building effective features, some of which were test scenario engines that would handle large amounts of data in order to provide RMs with the most appropriate course of action.

User experience

Getting the right data in place was only half the battle, I still had to manage the experience without overwhelming users with so many steps required to complete a single task.

Digital age banking

Portfolio Analytics is a cloud based web app that assists Relationship Managers working with clients to reduce attrition and optimize their relationship by developing personalized offers, adding products, using lower-cost channels, and more.

Dashboard KPIs

When designing our dashboard we thought of appropriate KPIs that would be displayed right "out of the box". Yet, at the same time we had to provide the flexibility of customizing the dashboard to fit the user's needs and display the right information.

Personalized

Portfolio Analytics can help financial institutions realize that providing a personal experience leads to a high-value banking experience that helps to acquire and retain customers.

banking won't be the same

There needs to be a shift of focus away from simply selling products towards providing relevant and contextual financial advice — in other words, banks need to demonstrate genuine interest and commitment to the customer’s financial wellbeing. Our goal was to create the tool that could help banks do exactly that.

Since the launch, Portfolio Analytics helped retail banks to overcome the data silos and see through the overall customers' activity from 360 degree perspective. It helped them make customer centric decisions, design focused approach towards cross-sell/upsell and attrition. All of this resulted into a better customer retention and satisfaction.

We have presented our analytics suite at the FIS conference, where various bankers appreciated the way data & insights are presented to enable banks to take insights driven actions.