The Wealth Management Innovation Team has recently expanded the way it manages co-creation by not only including internal colleagues but also by involving both clients and non-clients. This approach offers them a preview of what is coming next with regards to banking and also engages end-users in shaping new solutions which they will benefit from in the future.
How we do it
We use our WM Innovation Map , to engage clients and the public to assess the influence of mega-trends and technological drivers in their daily lives. We work to identify opportunities where our bank could offer a service going forward. On a more concrete level, we present and discuss high-level concepts out of our lab and gather input. Clients are also invited to so-called "Demo Days" where they can get their hands on our latest prototypes and give us direct feedback. Based on these cumulative responses, we derive learnings and further iterate our concepts or products. We repeat this cycle until the product or service is ready to be launched.
This approach has been well perceived and requests from within the bank have started to come in to validate concepts which have originated elsewhere in the bank, from outside of the innovation team. All of them have in common that they have a client-facing component and can therefore be co-created with and validated by end-users.
Video direct transmission setup
Our client validations and co-creation sessions are usually performed with a video setup in two rooms at our lab. In one room we simulate the client meeting, while the project team observes the scene via direct video transmission in the other room.
And what about you?
If you would like to be engaged in this process and help us test and validate new solutions, get in touch! We are looking forward to innovating together.