ANZ goMoney App — Account Visualisation
Conceptualisation + User Testing

We are trying to suss out the best way to design and present accounts. Trying to understand the customers' mental model in relation to accounts and performing payments. We are also wanting to propose an approach where we could create brand continuity and affinity across all different sales touch points. 

General attitudinal questions:
• How do they think about accounts vs cards?
• Is there a difference between types of accounts and do people want visualisations in all?
• Are they confused between cards and accounts?
• Do they understand difference between card and account number?
• Can they recall how a product was presented and how it was represented? 
• How is the product now represented to them when they use it?
• Do customers care about continuity of a product's visualisation throughout their experience?
• How do they identify their accounts? Through imagery? Through labels? Names? Or both?
• Would customisation be beneficial? Have they used the current feature personalisation feature?

Research profile
• Ages: 24 - 50
• Occupation: Policy advisor, Solar engineer, Sales NGO, Publishing, Admin officer, Interpreter, Business owner.
Customer's banks
Target customer segments
8 participants (plus 2 standbys) who are personal banking customers, bank with at least 2 banks and have 2 or more banking products including a credit card. All participants must be frequent mobile banking users. 

Banking criteria:
• Aim for an even gender split with an age distribution of 18-50 years.
• 4 participants must have credit cards that have companion credit cards. The combination would be: Visa & AMEX or MasterCard & AMEX.
• At least 4 participants must have additional products like a Term Deposit or Personal, Car loan or a Home loan or a combination of the above. 
• At least 4 participants must have bought a new financial product in the last 2 years. 
• 2-3 participants must have a banking product with ANZ 
• All participants must use mobile banking 1-2 times a week and have completed the following activities in the last 30 days on mobile banking. (eg: Transfer funds between accounts, Pay Anyone and BPay for Pay Bills).
• At least 4 participants must have also used Internet banking (banking on their desktop or laptop) in the last 30 days. 
• All participants must be the person who performs the above tasks (eg: Not rely on partner to do transactions). 
• All participants must be willing to talk about the banking situations.

Research methodology
A) Mental model: Multi-Method Mental Model Elicitation
We want to understand how they think and feel about their accounts. What are people's mental models about account? This particular method was chosen because it triangulates verbal and graphical representations of a mental model that helps the customers articulate deeper thought processes that tend to be more tacit. With each step of the process, the representation of the mental model becomes more robust as the customer builds on previous responses and adds explanation and detail. 

1) Warm-up (Putting each idea on a sticky note)
What are the first 6 ideas/things/images/words that come to mind when you think about banking
What are the first 6 ideas/things/images/words that come to mind when you think about all your bank accounts?
What are the first 6 ideas/things/images/words that comes to mind when you think about your main bank account?
What are the first 6 ideas/things/images/words that comes to mind when you think about your credit account
What are the first 6 ideas/things/images/words that comes to mind when you think about your personal loan, home loan account
What are the first 6 ideas/things/images/words that comes to mind when you think about your cards?

2) General digital banking tasks (Putting each idea on a sticky note)
What are the banking tasks you perform? 
Why do you do these things? 
When and where are you when you usually do these things? 
Describe the steps involved in performing those tasks. 
How do you like to feel at the end of those tasks? 
Draw your ideal process for these tasks.

3) Accounts (Putting each idea on a sticky note)
What do you value most when interacting with your accounts online in a mobile app? 
Do you like having separate accounts? Why?
Ask them to explain the value of each account. What is most important about it? 

We then gather all the sticky notes from step 1-3 and ask people to reflect on them and use them to draw out a mental model (by arranging the sticky notes) of how they are all connected to each other. This should be a concept map that illustrates their thought process. Organise the sticky notes in relation to each other. What is the relationship between this and that?

We then ask further probe the customer on the next step which is asking them how important cards are in their mental model for their accounts.

4) Cards
• Understand how they think and feel about cards in relation to accounts.
• Where do Cards fit into this model?

B) goMoney app review
• Ask people to think aloud while using and looking at their mobile app. 
• Ask people how they currently identify their account in their banking app. Do they like it? If not what could be better? 
• Ask them when they first signed up for a product, what was the most important factor about it?
• Ask them to make a payment through the app and talk about the relationship between accounts and cards on the payment flow.

C) Account visualisation
We then show people a range of account presentations and ask them to tell us which one they prefer. We intentionally mocked up a wide variety of options with different stylings to make sure we cover the ground.
Testing sessions
Observing through the observation room.

The team then gathered all the observations and refined them into meaningful insights. We did this by physically sorting the observations into piles of similar meaning. We then further develop them into themes and theories.
Themes and insights
A) Position
Contemporary models are being challenged
Most customers started off with a conventional bank because of reputation, stability, dollar mite accounts etc. They continue to stay with them because they’ve undergone a high set up effort and their bank is so entrenched in their life that its hard to break free (direct debits, loan payments etc). New and upcoming Fintechs are coming into the scene and trying to be disruptive and solve many of the problems and constraints that traditional monolithic banks have.

P1: "They bank on the fact that it’s too hard to change banks".
P3: "CBA came to the party when no other bank was able to help me".
P5: "I lost my CRN so I just call up and find my balance".

Bank need to know their position
Banks are inevitable for people to survive but they have their position in the overall picture of life. They are an enabler and they need to do that job well.

P6: "Banking is the lubricant of life".
P3: "I don’t really think of this stuff, it just needs to work".
P5: "Allows me to lead the life I want but cant afford".
As a enabler, there are core expectations
At the core the expectation from every bank is: 
Security: Risk, reliable reputation for peace of mind.
Convenience: Online, ATMs, mobile app and worldwide access.
Ease of use: Customer service, interaction and flexible products.
Experience: Predictable and consistent.

And any improvement above these core requirements is a delight.

P3: "It’s a given (convenience, easy)".
P8: "Peace of mind is what I hope to get".
P2: "ING quick balance without the need of login is handy".
B) Pay back
Something better than nothing
With no choice but to use banks, customer look to get back return wherever they can; reward points, earn interest. However most resentfully agree that rewards points actually deliver poor value.

P7: "There is no point in using rewards if you don't have money to spend for the trip".
P6: "Always keeps money in Online Saver Account to earn interest".
Small but real benefits
Customer loved the feeling of ‘getting back’  in terms if reimbursements, discounts. It almost seemed like clear proof of savings and more tangible benefits. 

ING bank was talked off highly for:
•No ATM fees.
•2% back on all payWave.
•No monthly fees.

C) Life stages
Life stages leaves their mark
Banking often reflected a customer’s journey through life not just their current position. For some that was not always a happy journey and felt like baggage from the past. Similarly a customer’s banking set up also reveals their vision for the future.

P5: "When I look at my banking I get an overall sense of failure 30mins".
P8: "My balance transfer reminds me of my past, it’s painful and unnecessary".

D) Valued partner
Treat us like a valued partner
Customers value genuine and transparent interactions. Transparency is crucial when it comes to offers, tone, fees, home loan etc. They expect banks to know them, their situations and proactively provide  services best suited for them.

P1: "I hate it when they belittle me 'You are *eligible* for a credit limit increase'”.
P4: "CBA is not proactive. ING called to advise me of a better Orange account, better interest”.
P3: "Getting more that I asked for… a bit sneaky".

E) Control
Customer seek control over their finances and seek methods that allow Traceability and Accountability. Surprisingly in some cases it was accountability to themselves. The level of control varied between customers wanting micro or macro control.

P5: "Cash makes me far less accountable to myself".
P6: "I don’t close old accounts as I need to keep the history in case I need it in future".
P6: "I don’t bother about petty cash expenses, that’s less than $20".

Based on the research, there is a clear pattern that customers favour an account screen design that is simple and clean. Presenting them in a card manner with decorated patterns, photos or imagery deem to be unnecessary and negative for the customers.

They treat the app as more of a utilitarian app. They think of the app as something that should be designed to be useful or practical first rather than attractive. They want information that is relevant to them at a quick glance without needing to dig further. Arranging the accounts in list view seem to be the general consensus. They want the app to be smart and having the ability to understand their current financial state and make informed suggestions and recommendations.

Area of opportunities that we can improve the account screen and app:
• Work out what the most important data is.
• Contextualise information for each account type.
• Consider making the interface adaptive according to different situations.
• Make it easy for people to move to ANZ and close other accounts at the same time. Would need to port all the banking history across too.
• Explore the things that matter most to the customer by offering helpful products, advices or tips when necessary.
• Suggest some practical steps to improve the customer's finances so that they can get to where they want faster.