Seriously Uncomplicated Banking for Australian Families

Managing family finances can be inherently complicated. Decision-makers commit time and effort into creating systems that work for their household, and secure the financial future of their family — but no institution embraces this by aiming to compliment rather than replace these systems. Most current solutions force people to choose between the rigid traditional banks or oversimplified neo-banks, neither of which strike the right balance between efficiency and visibility that decision-makers need to run their household. This increases the mental load that finances have on Australian families, taking time away from being able to focus on things they really care about.

Through 40 hours of 1:1 prototype-led concept testing with customers, we co-designed an app specifically to enable simple banking in the messy reality of customer’s lives. Unlike competitors, our value proposition evolved around creating an experience that compliments the systems already used by families, and the way they like to manage — rather than trying to replace them. In practice, this meant designing a banking experience that gives people both the level of visibility and detail they need to confidently manage their household effectively, and the simplicity to do it quickly. The new app is now live.

For customers. Reduced the daily stress, effort and burden of managing money for a family. “I really like it. I like not having to go anywhere. It's obviously in focus… it saves my time searching for that number””— Customer testing For teams. Focusing on family decision-makers, and testing with them throughout the project, aligned teams across the organisation around solving for the needs of this specific audience. For Bankwest. Enabled Bankwest to the needs of a specific underserved audience and secure a unique position in the broader landscape.

The core insight that formed the heart of strategy was that family decision makers are already experts in managing family finances. This led us to design an app that compliments how people already live— rather than enforcing rigid structures. In practice, this meant enabling them to; See exactly where their money is and how it’s being spent — with a cross-account transaction list, allowing customers to see recent account activity at a glance. Easily setup and manage money movement — by easily being able to see upcoming payments across Bankwest in the app. Receive guidance on their property journey — making it easy to manage and see the value of the biggest financial asset they have whilst showcasing Bankwest’s ability to handle complex needs. Navigate the app effortlessly – with a new information architecture based on mindsets rather than banking tasks. “It’s simplified for people like me who struggle to pull things together. Every household is going to have different needs for banking. Other banks are good but suited to one person. This feels more collaborative.” — Customer testing https://campaignbrief.com/bankwest-unveils-new-app-and-website-in-major-brand-cx-overhaul-via-ey-future-friendly-akqa/