How To Create Banking And Insurance Websites That Dont Suck

Trent Mankelow

How to createBanking and insurance websites that don't suck

Source: World Internet Project, 2008

“New Zealanders are eager to engage with the opportunities presented by the Internet” – World Internet Report, 2008

Source: http://img2.scoop.co.nz/stories/images/0803/98482da1f0333b7484ee.jpeg

Self-service is becoming more and more normal

North American consumers will spend $1.3 trillion at self-service machines by 2011

Source: http://www.msnbc.msn.com/id/20093431/

Source: http://www.pagetutor.com/trillion

The PROBLEM

Source: http://www.getamco.com

WHY do so many financial services websites suck?

1. Ugly systems2. Risk-adversity3. Project-focus instead of customer-focus4. Inside-out thinking

• “The primary reason we’ve made it so damn difficult for people to get stuff done is.... Ugly Systems”

• – Tom Peters

Out-of-the-box systems are always ugly

“60% of end users find enterprise applications somewhat difficult, very difficult or almost impossible to use.”

- CIO.com, May 2008

Financial services companies don’t take enough risks

Parity is not a strategy!

“Create products and services that

are worth marketing in the

first place”

– Seth Godin

Source: http://gizmodo.com/5333805/bank-lets-customers-deposit-checks-with-iphone-photos

Source: http://www.timesonline.co.uk/tol/money/consumer_affairs/article6808494.ece

Don’t take enough risks

Project-focussed instead of customer-focussed

Think inside-outSource:

http://blogs.harvardbusiness.org/merholz/2009/06/a-framework-for-building-custo.html

SYSTEMS

PROCEDURES

TOUCHPOINTS

INTERACTIONS

EXPERIENCES

Advertising

Service design takes into account the whole customer journey

Web, mobile & PC interfaces

Customer-facing staff

Communications & mailings

Physical environments

Support meGuide mePersuade meEnlighten me

The OUTCOMES

1. Help people manage their finances

2. Improve financial literacy

According to the 2009 Financial Knowledge Survey...• One in six New

Zealanders indicate that they are having difficulty managing money

• Banks are the main source of financial advice in New Zealand

3. Create opportunities to cross-sell and up-sell

"Each customer-facing channel is an instrument in a symphony" - Subject to Change

From http://servicedesigntools.org

Methods

In summary...

Key takeaways:• The OPPORTUNITY: Kiwis are online, they use

online banking and insurance a lot, they buy a lot of stuff online

• THE PROBLEM: Financial services websites aren’t making the most of the opportunity, because of

1. Ugly systems2. Risk-adversity3. Project-focus instead of customer-focus4. Inside-out thinking

• THE SOLUTION: To create brilliant websites you have to design from the outside in, using Service Design

• THE OUTCOME: Loyal, happy customers and increased revenue

Thank you!trent@optimalusability.com

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