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UKRSIBBANK. Re-design of the pension card service

The bank wanted to increase the number of customer acquisitions in a new segment. We helped them refine a product and design an onboarding process for the pension card product. This increased customer acquisitions in a mature market by up to 30%


The Challenge

  • UKRSIBBANK (BNP Paribas subsidiary) is a strong player in the highly competitive Ukrainian market. It has a strong customer base of employees of the international companies

  • Unfortunately, many clients leave the bank after retirement

  • UKRSIBBANK invited Lanka to design a product that would serve the needs of pensioners and help the bank to grow its customer base in the third-age segment

Key insights

  • The team had a pre-conception that pensioners are low-income people with low digital skills and are mostly interested in discounts in groceries and pharmacies

  • We saw three different segments of potential customers. Two of them keep working after they reach retirement age and apply for the state pension. They are active people familiar with banking and other digital services

  • A recently retired person has no special need regarding daily banking

  • The retirement process and applying for the state pension is a new and sometimes cumbersome process for them. The bank is well-positioned to advise customers on how to apply for the state pension

  • The state pension fund recommends customers open an account in state-owned banks

We saw three distinct segments

The most surprising one

The Outcome

  • The bank made only minor changes to the core product

  • The bank implemented a new process to help customers during retirement. In both digital and traditional channels, the bank proactively informs the customer when and how to apply for the pension, helps to prepare necessary documents

  • The bank positively surprised customers by proactively taking care of them

  • Early prototypes showed double-digit growth in acquiring new clients

Tools and an approach

  • In the first workshop, a cross-functional team produced the hypothesis on the needs of pensioners and prepared for the interviews

  • We did 15 in-depth interviews with a diverse range of people who recently became pensioners. We focused on the retirement process and changes in their financial habits

  • We synthesized personas and insights from the interviews

  • Based on the content analysis, consultants produced reach persona descriptions

  • The team generated solutions on how to simplify the application process for those who would keep working after formal retirement

  • Consultants advised the team on how to test and improve ideas using lo-fi prototyping

The team

  • Consultants worked in close collaboration with the x-functional agile product team from the bank

  • Lanka facilitated workshops, prepared team members for the interviews, advised on prototyping and testing

  • Client’s team performed most of the interviews and prototype tests, and prepared the implementation roadmap

We are thrilled with the opportunity to create services for our parents - the third-age segment.

Invite us to help you deliver more value to them

تعليقات


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