Jul 02, 2021
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Completed
Driving Value for Low Income Clients
$25,000+
2-3 months
Brazil
6-9
Service categories
Service Lines
IT Services
Domain focus
Banking & Financial Services
Subcategories
IT Services
Business Analysis
Challenge
The bank was successful at offering high value propositions to higher income clients, but it wasn’t able to do the same for the ones with lower income (about 80% of its clients). The objective was to create a value proposition in financial products for these low income clients.
The bank was successful at offering high value propositions to higher income clients, but it wasn’t able to do the same for the ones with lower income (about 80% of its clients). The objective was to create a value proposition in financial products for these low income clients.
Solution
Throughout a qualitative research with low-income communities MJV noticed the need to create personas whose behaviors differed to the ones the bank was currently designing for. The personas needed to adapt to a different level of financial education and familiarity with the banking system.
Throughout a qualitative research with low-income communities MJV noticed the need to create personas whose behaviors differed to the ones the bank was currently designing for. The personas needed to adapt to a different level of financial education and familiarity with the banking system.
Results
The financial communication by leveraging the personas was simplified, the technical terms were eliminated and information was “translated” into more simple and visual charts. The results of the initial prototypes at the bank branches peaked the interest of the bank stakeholders, who requested an amplification of the project.
To support the expansion, MJV developers created an app with digital versions of the info charts, which was used in multiple branches for testing. This testing delivered highly positive results.
The financial communication by leveraging the personas was simplified, the technical terms were eliminated and information was “translated” into more simple and visual charts. The results of the initial prototypes at the bank branches peaked the interest of the bank stakeholders, who requested an amplification of the project.
To support the expansion, MJV developers created an app with digital versions of the info charts, which was used in multiple branches for testing. This testing delivered highly positive results.