simplicity as a bank's capability _jinzwicky_nov21_2013
DESCRIPTION
How can banks achieve simplicity? The rewards from achieving simplicity in banks are real. However achieving simplicity is not done, unless the organisations build a strong foundation to make simplicity sustainable. Build simplicity as your bank's capability. I suggest The 5 Fundamentals to cultivate simplicity as an organisational capability with real life examples. 1. Want it badly 2. Prototype 3. Focus ruthlessly 4. Obsess with design 5. Speak humanTRANSCRIPT
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Jin Zwicky VP Experience Design Group Customer Experience OCBC Bank
Simplicity as an organizational capability
We want to differentiate ourselves through a simple customer experience.
I believe in power of design and its business impact.
Simple to do, feel simple, at the start
simplicityis
Simplicity as an organizational capability
What
Simplicity is based on human nature and common sense.
SimpleComplex
Knowledge needed to understandMental model
�6Simplicity as an organizational capability| Jin Zwicky
Simplicity is about working backwards from what people need.
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What people needWhat banks want
Simplicity as an organizational capability| Jin Zwicky
RelevanceSimplicity is not natural. You have to make it happen.
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What people needWhat banks want
Simplicity as an organizational capability| Jin Zwicky
Whysimplicity matters
Simplicity as an organizational capability
12 Pages of
form filling
8 Pages of
conversation
0 paper of
interactionSimplicity as an organizational capability| Jin Zwicky
Simplicity changes behavior.
Simplicity as an organizational capability| Jin Zwicky
LGI New Target Return Fund Sales as at 29 Nov (S$)
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
Day 1
Day 3
Day 5
Day 7
Day 9
Day 11
Day 13
Day 15
Day 17
Day 19
Day 21
Day 23
Day 25
Date
Sal
es (S
$)
LG NTRF Sales (S$) Avg Daily Sales for past 10 mths for top fund (S$)
17
+67%
A new investment product with simplicity design / development process 150%
liftAverage daily sales for past 10months for top fund
Sales
Simplicity as an organizational capability| Jin Zwicky
Customers don’t understand
Customers understand
2009 2010 2011 YTD 2012
Regular premiumsSingle premiums 8 times
increase
Customers don’t understand Customers understand
Simplicitybuilds clarity + confidence.
Simplicity as an organizational capability| Jin Zwicky
Simplicity sells.
12000 pages12000 pages12000 pages12000 pages12000 pages12000 pages600 pages
0.5 million / year
Simplicity saves cost.
Why is it hard to do?
The simplicity pitfalls
“Simplicity is for novice.” Bankers perception on wealthy customers
“I want it simple. Do it! ” Top executives without taking the full responsibility for the issue of simplicity ""
“We can’t do that, because….” Middle management not bold enough to shake the status quo
Simplicity is everyone’s job.
Everybody needs simplicity.
cultivate simplicity
How to
Simplicity as an organizational capability
Understand ‘design’
Design
Look and feel of a final objectNoun
VerbProcess of originating and developing a new object
The quality of the thing is a direct result of the quality of the process
Verb
Commit to designStart with customers Prototype & Test
Learn Improve
Test
LearnImprove
Test
Learn
Improve
Test
Simplicity
Simplicity as an organizational capability| Jin Zwicky
Establish simplicity engine: User-centered design process
Learn 5 simplicity fundamentals
Mindset Culture Skillset
Want it, badly Prototype Focus ruthlessly
Obsess with design
Speak human
Simplicity as an organizational capability| Jin Zwicky
Want it, badly
Fundamentals #1to simplicity
Unless simplicity is defined as your priority, it will not be there.
Jin Zwicky | The Basics of Simplicity
Head of Wealth Management
Prototype
to simplicityFundamentals #2
Relationship managers
Head of investment
Head of advisory
Jin Zwicky | The Basics of Simplicity
Only through prototyping + iteration + testnig, complexity strips off
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Total Tertiary Population Frank Total Base OCBC Tertiary Base (non Frank)
0 Poly
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26-28% Penetration amongst students
Students
Working
7 times increase in total base among university level students.
Focus ruthlessly"
Articulate one objective and do one thing well.
to simplicity
Simplicity as an organizational capability| Jin Zwicky
Fundamentals #3
Obsess with design"The look is the message.
The look should give a feeling of confidence and trust.
to simplicity
Simplicity as an organizational capability| Jin Zwicky
Fundamentals #4
Simplicity as an organizational capability| Jin Zwicky
Design ignorance Power of design
Design engages customers emotionally.
Emotionally satisfied customers are 100% more likely to spend.
Speak human"
Being human make things simpler.
to simplicity
Simplicity as an organizational capability| Jin Zwicky
Fundamentals #5
Fund Transfer – new screen
Designfulcompany.com
So, Was it simple?
Making things simple requires dedication, discipline and intelligence.
It is everyone’s job to make things simple.
Cultivate simplicity as a capability
Mindset Culture Skillset
Want it, badly Prototype Focus ruthlessly
Obsess with design
Speak human
Thank you!