“Banking is necessary, but banks are not.” Bill Gates
I wrote this article for EFMA Journal – the only European magazine devoted to the marketing and distribution of retail financial services – on ‘How design thinking helped OCBC Bank increase the sales of a new investment product by 150% and win customer’s trust’.
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Instead of re-inventing the Bank, what about putting them back to the place they should never have left, 20 years ago ? They made a great effort to lose the trust people gave them, no wonder they get popular making that simple step back…
Hi W,
Many thanks for sharing your thought! I agree that banks have become unecessarily complex. For example, banks offer too many similar products just because the product division was measured by the number of product launched! I believe value of design thinking is putting customer first – a conscious and humble effort to work backwards what people need. This requires a lot of stepping back and illimanting complexity.
Sometimes I prefer the term ‘human centred design’ over ‘design thinking’, as that depics what design thinking is at its core.
Reblogged this on Dirsuptive Powershift and commented:
Excellent Analysis, proof Singapore is leading the pack in Fintech in Asia