We flew down to Jamaica for a one-day "hack-a-thon" with two goals for the bank: 1) help them reimagine how a customer could more easily receive a loan, and 2) brainstorm ways the bank could let customers know about its new online digital capabilities.

In the days following the workshop, we created a prototype of an app in which an existing customer could receive a loan in two minutes, which was days sooner than they currently are able to.

 

Our Process & Solution

Our goal with this (and most) hack-a-thons was to give the bank a crash course in how it can more quickly and effectively create digital products that are focused on its customers and their behaviors. We gathered in a workshop with a cross-functional team of bank executives and business consultants, where we co-designed a way to help qualified customers efficiently obtain loans.

 
 
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Refined Personas

We came to the workshop with a few personas in mind, and started the workshop off by refining the personas to more accurately represent the bank’s customer base and ideal candidates to apply digitally for a bank loan. 


Mapped out the current customer journey

Next, we identified the various steps that a customer currently takes to receive a loan from the bank, mapping out the interactions the customer has, their pain points along the way, and their emotional state as they go through the process. 


Brainstormed solutions to customer pain points

After mapping out the current state, we brainstormed individually how we could improve the lending process, by focusing on the pain points a customer faces. We shared them as a group and bunched similar solutions and ideas together into broader themes. We then voted on what we each thought were the most important of these ideas, so that we could implement the most important ideas into our solution. 


Storyboarded an ideal digital solution

We took the top five most important ideas and split them into where they made sense in the customer’s journey. As a group, we decided that an app was the most ideal solution, so we storyboarded how the customer could use an app to receive a loan, making sure to incorporate the ideas we had brainstormed together in the previous phase of the workshop. 


Created a digital prototype of the ideal solution

Over the next few days, we took the storyboards from the workshop and created a digital prototype of an app that would notify a customer that she was pre-qualified for a loan, and walk her through the loan application in under two minutes, as opposed to the more than 5 days it currently takes a customer to receive a loan.