Post on 14-Jan-2017
Meaningful engagement
Finnur Magnusson Chief Product Owner @gommit
Meniga is helping leading banks around the world personalize their digital customer experience and build new business models around data
CONTINENTS COUNTRIES OFFICES ONLINE USERSEUROPE
NORTH AMERICAAFRICA
AUSTRALIA
18 LONDON (HQ)REYKJAVIK
STOCKHOLM
35 MILLION
About Meniga
ASIA
Meniga´s Product Portfolio
DATA CONSOLIDATION & ENRICHMENT
PERSONAL FINANCE BUSINESS FINANCE
DIALOG – ENGAGEMENT PLATFORM
CARD LINKED OFFERS CONSUMER ANALYTICS
Digital Banking Products Marketing Products
Partners - Santander Money Plan
App based on an internal friends & family pilot (Moneybit). Now live in Spain.
How can banks build meaningful engagement?
Habit forming loops vs
Design for time well spent
Motivation vs
Ability
How we work &
Latest concepts
Habit forming loops vs
Design for time well spent
Habit forming loops
Responsibility
50 minutes per dayAs of mid-2015, total sharing had declined by
about 5.5% year over year while “original broadcast sharing” was down 21% year over year
theinformation.com
Design for time well spent
Remove hurdles and simplify Teach me something
Better rewards Ease of use
Motivation vs
Ability
Motivation and context
Sometimes people are highly motivated and able to think hard about their finances.
Even change their behaviour.
At other times it is just about doing the basics … on their mobile.
You need to provide support for both and allow people to advance by investing time and effort.
Motivational waves
Motivation and ability
Ability
Mot
ivat
ion
Categorise
Challenges
Net worthBudgeting
Peer comparisonTagging
Reports
Split
Rules
Offers
EasyHard
High
Low
Upcoming
Trigger death zone
EMPATHY summary:
(people are strange)
ConscientiousnessA tendency to be organised and dependable, show self-discipline, act dutifully, aim for achievement, and prefer planned rather than spontaneous behaviour.
NeuroticismThe tendency to experience unpleasant emotions easily, such as anger, anxiety, depression, and vulnerability.
Big Five personality traits
Openness to experience + Conscientiousness +
Extraversion Agreeableness - Neuroticism -
This is why personalisation is so
important
100% increase in monthly active users
5X increase in weekly active mobile app users
60% of active users categorise
Financial Activity Feed
Engagement hooks
Meniga offers additional touch points to traditional bank actions.
• Categories • Comments and tags • Spending goals and challenges • Saving goals • User events, insight and reports
Automated user events are key to driving engagement
Personal finance tips & advisory
Playful event-driven notifications
Spending pattern warnings & alerts
Insightful spending reports
Personalized discount offers and product recommendations.
How we work
Testing with real people is golden
Mobile testing
• Lookback.io • One off guerrilla sessions • Recordings and review
Community feedback
• Server and client metrics • Data warehouse • Tableau and custom reports
Saving goals metrics
Functional workshops
• Bank innovation labs • Leading design agencies • Conferences and hackathons
Hackathons
Highlights from last sprints
Challenges How do we help more people reach their financial goals?
Short term changes in behaviour with the aim to increase savings.
Overwhelming user feedback.
Specially with the “financially challenged”
“Can I start using this now?”
Disconnect goals from bucket lists.
UpcomingHow much do I have and how much can I spend?
Build meaningful engagement by providing value.
Remove hurdles, surprise and inspire.
Strive for best in class usability and experience.
Design for the motivational peaks and troths.
Test early and often.
Ship it and measure impact.
Questions? @gommit