Concept testing with micro and small business customers
Allow customers to spend more time on their business, not on banking
Provide additional tools to build business confidence and financial literacy
First, some context
Our newly formed team were required to discover challenges faced by micro and small business customers. However...
We had designed a series of concepts with research we had inherited from a previous team. The proposed features included:
Quick balance and working capital view
Upcoming expenses view and expected balance
In-app invoice reconciliation, integrated with accounting software
Access to preapproved funding
This is where our story begins...
Concepts we tested with participants. Coloured markers indicating features they like/disliked
Testing New Features
A group of micro and small business customers participated in a series of concept testing sessions. Participants included:
Sole trader whose business was growing slowly
Sole trader who outsourced some tasks so they could spend more time at home with their young family
Small business owner who employed sub-contractors
A small business owner who employed 15-20 staff
A hospitality business owner whose main focus was property development and writing sci-fi screenplays
Participants placed coloured stickers on features they liked/disliked & we recorded their comments
Synthesis & Understanding
From our research, we placed red/green pins on features, creating our own version of a heat map.
From our notes, we discovered a few interesting insights which then lead us to new discussions
A cleaner version of our synthesis board
We spent more time listening to customer's stories about how and why they started their business. We noticed a pattern emerging and potential opportunities for NAB.
Taught themselves how to start and operate a business
Went to family or friends for advice/funding
Attended a female business network
Felt unsupported by their financial institution
Needed to know how to grow their business instead of being offered funding
We showcased our new findings to the wider business and discussed the possibility of an omni-channel solution which could potentially incorporate the NAB Village precinct in Docklands.
We developed a model which NAB could use within it's micro/small business customer segment.
Possible scenarios discussed:
Specialist workshops held at NAB Village
Scheduled business banker calls
Personalised business strategy delivered by a business banker
Business starter toolkit and resources available online
Develop powerful resources for a business banker to assist the customer in growing their business using various options
Our Proposed Model
Engage: Simplify digital business banking starting with simple, natural, real-world language and messaging
Educate: Help customers realise business growth by providing relevant tools which fit their business. Provide customers with a credible business network
Enable: Provide controls which allow customers to drive their own business banking experience which does not impact or interfere with the day-to-day business operation
Empower: Provide industry specific advice and resources. Manage financial risks before they occur to allow customers to make informed business decisions
Sustain: Make accounting go away through smarter banking. Help customers keep their personal and business finances separate.
Our proposed model to the business based on our research findings, required further discussions with senior stakeholders and product owners.
Myself // Senior BA // Junior BA // Product Lead // (Support from Principal Designer)