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:
• Ages: 24 - 50
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.
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)
2) General digital banking tasks (Putting each idea on a sticky note)
3) Accounts (Putting each idea on a sticky note)
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?
B) goMoney app review
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.
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
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.
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.
As a enabler, there are core expectations
At the core the expectation from every bank is:
And any improvement above these core requirements is a delight.
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.
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:
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.
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.
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.
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: