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BANKING

Transforming Money Management Experience for a Multinational Bank

The Challenge

A multinational bank sought to provide its millions of retail banking customers across Canada the ideal digital money management (DMM) experience, one that would transform day-to-day money management into an engaging, multi-feature mobile banking experience. It would integrate features like spending comparisons, spending limits and account aggregation, so customers can see all their accounts on one mobile banking app as well as derive insights from their spending and saving habits.

The company engaged Idea Couture, Cognizant’s digital innovation, strategy and design firm, to develop a DMM experience that would serve customers while also positioning the bank as a leader in digital customer experience design.

Our Approach

The first objective was to determine the principles that would guide our design and development work. For that, we conducted context labs to uncover rich, actionable insights into the social, cultural, personal and professional practices that shape people’s everyday lives. This resulted in three design principles, which then guided our development of 12 digital experience concepts.

After narrowing down the list to the highest priority concepts, we created simple, “low-fidelity” prototypes and tested each on customers to ensure the concepts truly fit in the context of their everyday lives.

From Principle to Prototype

The new DMM design was favorably received when we presented it to the bank’s leadership. One of the key concepts was immediately moved into development and three other concepts were planned for future development. These concepts will put the bank on a path to better serve its customers through digital customer experience.

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One key concept

moved into development immediately

Three concepts

planned for future development

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