How can we help MNCs and SMEs access trade finance as easily as they understand personal banking?

Client

Multinational bank

Industry

Corporate Finance

Services

Research & Insights, Design & Delivery

The challenge

A major multinational bank wished to extend their reputation as a leading digital bank from the consumer banking experience to corporate banking customers - beginning with helping businesses large and small access trade financing solutions in an easier manner.

PSYKHE was engaged as a strategic partner to help the bank discover and define their customer segment needs better, before designing new ideas to help streamline their digital experience via the bank's digital business banking platform.

The approach

We began discovery with 10 internal stakeholder interviews and a review of current state processes to grasp the known challenges customers faced. We then supplemented this knowledge base with 30 SME and MNC customer interviews, revealing pain-points across 4 key trade finance products.

As part of our research synthesis, research notes were consolidated and grouped into tangible problem statements to identify opportunities for trade innovation. We refined these problem statements further into 52 How Might We statements to be used for ideation.

Having articulated our customer pain-points as How Might We statements, PSYKHE drove the prioritisation and selection of ideation candidates by impact and feasibility. We engaged 40 internal stakeholders across the multi-disciplinary teams in four 2-hour virtual ideation workshops, generating 100+ raw ideas to develop new solutions in line with existing initiatives.

Building upon current state processes, our ideas were further consolidated, compiled and refined to concretely address relevant customer issues in our 4 key product journeys. What resulted was a live, working document comprised of the 4 future-state product journeys to be owned and referenced by the client’s implementation during sprint backlog planning.

PSYKHE continues to work hand-in-hand with the client's Product, Design and Technology teams to prioritise the sprint backlog, define user stories and deliver on design sprints to key stakeholders with regular showcase and governance cadences.

The impact

30

External customer interviews 🧑🏻‍💻

5

Future-state journey maps 📍

52+

‘How Might We’ statements crafted ✏️

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