Simplicity as a Bank's Capability _JinZwicky_nov21_2013
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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 human
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Simplicity as a Bank's Capability _JinZwicky_nov21_2013
- 1. Simplicity as an organizational capability Jin Zwicky VP Experience Design Group Customer Experience OCBC Bank 1
- 2. We want to differentiate ourselves through a simple customer experience. I believe in power of design and its business impact.
- 4. Simple to do, feel simple, at the start
- 5. Simplicity as an organizatio n al capability What is simplicity
- 6. Simplicity is based on human nature and common sense. Complex Simple Mental model Knowledge needed to understand Simplicity as an organizational capability| Jin Zwicky 6
- 7. Simplicity is about working backwards from what people need. What banks want Simplicity as an organizational capability| Jin Zwicky What people need 7
- 8. Simplicity is not natural. Relevance You have to make it happen. What banks want Simplicity as an organizational capability| Jin Zwicky What people need 8
- 9. Simplicity as an organizatio n al capability Why simplicity m atters
- 12. 0 paper of interaction Simplicity as an organizational capability| Jin Zwicky
- 13. Simplicity changes behavior. Simplicity as an organizational capability| Jin Zwicky
- 14. LGI New Target Return Fund Sales as at 29 Nov (S$) LG NTRF Sales (S$) Avg Daily Sales for past 10 mths for top fund (S$) A new investment product with simplicity design / development process 8,000,000 Sales 7,000,000 % 150 6,000,000 +67% lift 5,000,000 4,000,000 3,000,000 2,000,000 Average daily sales for past 10months for top fund 1,000,000 25 D ay 23 ay 21 D D ay 19 ay 17 D D ay 15 ay 13 D D ay 11 ay 9 D D ay 7 D ay 5 D ay 3 ay D D ay 1 - Date Simplicity as an organizational capability| Jin Zwicky 17
- 17. Single premiums Regular premiums 8 times increase 2009 2010 2011 YTD 2012
- 18. Customers don’t understand Customers understand
- 19. Simplicity builds clarity + confidence. Simplicity as an organizational capability| Jin Zwicky
- 21. 12000 pages 12000 pages 12000 pages 12000 pages 12000 pages 12000 pages 600 pages 0.5 million / year
- 23. Why is it hard to do?
- 24. The simplicity pitfalls “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 for novice.” Bankers perception on wealthy customers
- 25. Simplicity is everyone’s job. Everybody needs simplicity.
- 26. Simplicity as an organizatio n al capability How to cultivate sim p licity
- 27. Understand ‘design’ Noun Look and feel of a final object The quality of the thing is a direct result of the quality of the process Design Verb Verb Process of originating and developing a new object
- 28. Establish simplicity engine: User-centered design process Start with customers Prototype & Test Commit to design Improve Learn Learn Improve Learn Improve Simplicity Test Test Simplicity as an organizational capability| Jin Zwicky Test
- 29. Learn 5 simplicity fundamentals Want it, badly Mindset Prototype Culture Simplicity as an organizational capability| Jin Zwicky Focus ruthlessly Obsess with design Skillset Speak human
- 30. Fundamentals to simplicity #1 Want it, badly Unless simplicity is defined as your priority, it will not be there.
- 31. Head of Wealth Management Jin Zwicky | The Basics of Simplicity
- 33. Relationship managers Head of advisory Head of investment
- 34. Only through prototyping + iteration + testnig, complexity strips off Jin Zwicky | The Basics of Simplicity
- 37. 37
- 38. !38
- 40. !40
- 42. 7 times increase in total base among university level students. Poly 26-28% Penetration amongst students otal Tertiary Population Working Students Frank Total Base OCBC Tertiary Base (non Frank) 42
- 44. Fundamentals to simplicity #3 Focus ruthlessly " Articulate one objective and do one thing well. Simplicity as an organizational capability| Jin Zwicky
- 49. Fundamentals to simplicity #4 Obsess with design " The look is the message. The look should give a feeling of confidence and trust. Simplicity as an organizational capability| Jin Zwicky
- 50. Simplicity as an organizational capability| Jin Zwicky
- 54. Design ignorance Power of design
- 56. Emotionally satisfied customers are 100% more likely to spend.
- 57. Fundamentals to simplicity #5 Speak human " Being human make things simpler. Simplicity as an organizational capability| Jin Zwicky
- 61. Fund Transfer – new screen
- 64. Making things simple requires dedication, discipline and intelligence.
- 65. It is everyone’s job to make things simple.
- 66. Cultivate simplicity as a capability Want it, badly Mindset Prototype Culture Focus ruthlessly Obsess with design Skillset Speak human
- 67. Thank you!