Photo by Mohammad Ghaffari on Unsplash

Research Design

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Following our participatory in-depth interviews, where we learned about the current banking experience and aspirations of people that are historically underserved, the Citi Inclusive Design Pilot team completed a 4-week sprint to ideate potential solutions. The team developed three ideas that we tested with some individuals we spoke to last time as well as some new participants.

Context

CITI INCLUSIVE DESIGN PILOT CONCEPT TESTING – RESEARCH DESIGN

• Understand how we can welcome diverse customers to Citi
• Design a solution that helps diverse customers feel empowered to reach their financial goals

Research Goals

• Change the core product messaging and offering to focus on the equitable treatment of our potential customers.
• Increase financial access and equity in historically underinvested and underserved communities.

Citi's Business Goals

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We conducted five, 60-minute, one-on-one interview sessions. The interviews started with a quick set of questions about participants’ current experiences with banks and credit unions. We then got their opinions on the three, low fidelity concept storyboards the teams created to see if participants found the ideas relatable, valuable and useful.

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We showed participants the concepts in a different order to reduce order bias. We did this to avoid the recency effect; a psychological phenomenon in which people are most likely pick the idea they saw last and anchoring bias; another phenomenon where people tend to latch onto and choose the first idea they are presented. We solved for these biases by counterbalancing — switching up the order in which they were presented. 

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Methodology

CITI INCLUSIVE DESIGN PILOT CONCEPT TESTING – RESEARCH DESIGN

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This was an intentionally intersectional recruit, meaning participants who identified with more than one historically underserved population.

• Women & non-binary folks
• LGBTQ+
• Black or African American, Hispanic/Latino/Latina/Latine, Native Hawaiian or Other Pacific Islander, Native American/American Indian or Alaskan Native
• Differently-abled, with disabilities or neurodiverse

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We also wanted to learn from people with varying financial experiences, so we recruited across a range of household incomes and ages. Participants included those who use traditional banks and credit unions, as well as those who are underbanked or unbanked and rely on alternative financial means, such as cash, payday loans, cashiers checks, and prepaid debit cards.

Participants

CITI INCLUSIVE DESIGN PILOT CONCEPT TESTING – RESEARCH DESIGN

*As defined by self-report to the following question: “Which of the following best describes your financial situation?”

• I do not have any bank accounts. [unbanked]
• I have some money in the bank, but I rely on other options regularly such as cash, cashier checks, payday loans, and prepaid debit cards. [underbanked]
• I use banks for several purposes, such as checking account, savings account, debit card, and credit card. I do not rely on other options regularly such as cashier checks, payday loans, and prepaid debit cards. [banked]

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Storyboard Concepts

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The following storyboards were the result of a cross-functional team brainstorming ideas based on our business goals and the following research guideposts:

1. Give people control — put them first
2. Be transparent and forgiving
3. Offer guidance — meet people where they are
4. Give people a reason to trust
5. Serve people and their communities

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We did rapid idea generation using the exercise Crazy 8’s, voted on ideas we thoughts were most innovative and inclusive, prioritized ideas based on audience value and Citi effort, and voted again to narrow to the three concept we ended up with. At this stage, our goal was to focus on the idea and its alignment with our goals and guideposts, as opposed to how we would execute the idea. We wanted to ensure we tested the idea early and often — with the right audience .

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Context

CITI INCLUSIVE DESIGN PILOT – STORYBOARD CONCEPTS

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When we started this work, our goal was to pilot a customer-facing project by putting Inclusive Design principles into practice.

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At the heart of it, Inclusive Design follows these four principles:

1. “Nothing About Us Without Us”
2. Design at the Margins
3. Be Open and Flexible
4. Expand Beneficial Impact

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We invited a diversity of people into our design process to weaken the distinction between us and our potential customers. We recruited a mix of participants Citi might not usually hear from — an intersectional mix of people who included those that are unbanked or underbanked. We worked openly and expanded our viewpoints by hearing perspectives that were different from our own —acknowledging our biases, naming our assumptions and being willing to be wrong.

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Mobile Pop-Up

CITI INCLUSIVE DESIGN PILOT – STORYBOARD CONCEPTS

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Chatbot

CITI INCLUSIVE DESIGN PILOT – STORYBOARD CONCEPTS

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Level-Up Bank Account

CITI INCLUSIVE DESIGN PILOT – STORYBOARD CONCEPTS

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Concept Testing Results

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Results – Rank Summary by Top Choice

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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No one said this was their favorite

2 out of 5 said this was their 2^nd favorite

3 out of 5 said this was their 3^rd favorite

Mobile Pop-Up

Chatbot

4 out of 5 said this was their favorite

No one said this was their 2^nd favorite

1 out of 5 said this was their 3^rd favorite

1 out of 5 said this was their favorite

3 out of 5 said this was their 2^nd favorite

1 out of 5 said this was their 3^rd favorite

#1

#2

#3

Level-Up Bank Account

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Results – Summary of Findings

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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Overall, people were intrigued by the idea of building your own account and being able to level up the more you do with it. This was an idea that most people thought was different and intriguing because of its ability to be personalized and the incentives it could provide.

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Generally, the mobile pop-up was fairly well liked. People wanted the pop-up to be associated with a reputable brand name. They also wanted to make sure the Wi-Fi was secure and there would be people to talk to in person.

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Although people didn’t like the idea of a chatbot for setting up an account, they thought the questions the chatbot asked were respectful, and something they’d like to see when opening a new bank account.

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Rank #1 - Level-Up Bank Account

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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The Level-Up Bank Account was ranked by all participants except for one as the favorite concept. People liked the idea of recommended accounts based on their financial goals in addition to the idea of leveling up. However, people expect a bank to not charge them minimum balance fees and were underwhelmed by both the types of and the number of options presented in order to “level up” the account. Additionally, people felt that providing goals was either too personal or inflexible.

• People like the idea of being able to level up their account by achieving certain objectives.
• People liked the idea of personalizing their account.
• People want their choices to result in personalized account recommendations.

Pros

• People were underwhelmed by the specific incentives included in the example needed to “level up”.
• People think that fees shouldn’t be linked to having a certain account balance.
• Some people dislike having to provide goals because they might change over time, or they might get disheartened if they don’t meet them.

Cons

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CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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Rank #1 - Level-Up Bank Account: Alignment with Research Guideposts

Not Aligned

Aligned

Give people control — put them first

Not Aligned

Aligned

Be transparent and forgiving

Not Aligned

Aligned

Offer guidance — meet people where they are

Not Aligned

Aligned

Give people a reason to trust

Not Aligned

Aligned

Serve people and their communities

The guideposts people saw in the concept are:

1. Give people control – put them first
2. Offer guidance – meet people where they are

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Empowering people to open accounts on their own is giving people control, as is giving people the option to select their financial goals and personalize their account.

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The guideposts people did not see in this concept are:

1. Be transparent and forgiving
2. Give people a reason to trust*
3. Serve people and their communities.

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*Trust was associated with a recognized, reputable brand name. Participants didn’t know the name of the bank/client the research was for. This should be a continued area of focus for future iterations and research.

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Rank #1 - Level-Up Bank Account: Recommendations

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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1. Work with business and product to create a bank account with no fees, no direct deposit or minimum account requirements.
2. Don't ask for information that is not pertinent to the banking relationship.
3. If allowing people to select options to personalize their account, offer a recommended account and explain why it’s recommended.
4. Ensure steps in the flow feel cohesive and build on each other.
5. Offer a wide variety of incentives per level to be able serve a range of people (e.g., sign up cash bonus or gift cards, ability to apply for a loan at a certain balance amount, unlocking better rates)

“Is unlocking an investment account the only option? I’m thinking like airlines, you would get a bunch of different perks [to level up].” 

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“I’m not really feeling that. It’s getting too personal... Some people might not feel comfortable answering those questions. Just show the accounts and ask what they’re trying to get.” 

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Rank #2 – Mobile Pop-Up

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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People liked the idea of a Mobile Pop-Up, and it was ranked second in the list of concepts. We learned that a Mobile Pop-Up felt personal and welcoming, especially when paired with in-person advisors. We also learned that it is important for the pop-up to clearly demonstrate value to potential customers visually. Additionally, customers don't want cheap promotional gifts, instead they want high deposit matching, gift cards for meeting with a financial advisor, free checks, and no fees or minimum account balances. 

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• A pop-up evoked exclusive offers and felt welcoming.
• Financial education courses were an attractive offering. People liked the idea of a wide variety of options, from finances 101, to practical courses on debt, to specialized courses on business loans, investing or taxes.
• People liked the idea of pop-ups being conveniently located in busy and trustworthy community-centric spaces staffed by in-person advisors.
• Deposit matching to organizations is seen as unique and people want to be able to choose personally relevant organizations to donate to.

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Pros

• People have security concerns with sharing personal information and dealing with finances over public Wi-Fi.
• People don’t like the idea of having a virtual advisor over an in-person advisor.
• There were concerns that interactions at the pop-up may not be efficient if it attracted a large crowd. (e.g., long line to talk to someone)
• It was questioned whether the pop-up would truly benefit local businesses. (e.g., are they providing a sustainable way for the business to succeed?)

Cons

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CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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Rank #2 - Mobile Pop-Up: Alignment with Research Guideposts

Not Aligned

Aligned

Give people control — put them first

Not Aligned

Aligned

Be transparent and forgiving

Not Aligned

Aligned

Offer guidance — meet people where they are

Not Aligned

Aligned

Give people a reason to trust

Not Aligned

Aligned

Serve people and their communities

The guideposts people saw in the concepts are:

1. Give people control – put them first
2. Be transparent and forgiving
3. Offer guidance – meet people where they are
4. Serve people and their communities

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By going into areas where there may not be banks, they are serving people and their communities. Additionally, the option to match donations was seen as connecting to communities. Offering guidance and meeting people where they are is seen in the pop-up concept in the fact that they would offer in person advising and financial education seminars. Meeting someone face to face was seen as being transparent. Giving people control was also somewhat seen in empowering people to access financial advisors and education.

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The guideposts people did not see in this concept are:

1. Give people a reason to trust*

*Trust was associated with a recognized, reputable brand name. Participants didn’t know the name of the bank/client the research was for. This should be a continued area of focus for future iterations and research.

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Rank #2 - Mobile Pop-Up: Recommendations

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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1. Pilot a few pop ups, each in types of locations and with different partnerships, so each can meet a different need and continue to be an opportunity for learning from potential customers
• Partner with colleges, reputable well-known organizations, rural community centers
2. Ensure there is a person for potential customers to interact with
3. Don't provide traditional banking capabilities (e.g., ATM)
4. People should be able to choose an organization to donate to of their choice that has local and national giving capabilities.
5. Allow people to donate to nonprofit organizations that provide humanitarian aid, help animals, the environment and healthcare associations
6. Ensure interactions with advisors are efficient (e.g., no lines, multiple advisors)
7. Incentives should not be promotional items but deliver value through customer-centric thinking (e.g., no fees, free checks, personal advising, etc.)
8. Clearly advertise and provide secure Wi-Fi
9. Advertise and provide an incentive for visiting the pop-up (e.g., wheel of fortune style cash or gift card giveaways)

"When it’s a pop up, it’s most likely going to be using public Wi-Fi or Wi-Fi of different businesses. [It's] not going to be Wi-Fi of the bank. [I'd have] questions if [it's a] secure Wi-Fi system, since [it's] going to be transmitting sensitive information."

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"[It] would need to be a name I recognize to give it credibility...[I] Imagine it at a community college or a mall maybe, the library, places like that."

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Rank #3 – Chatbot

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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The Chatbot was the least preferred concept of the three. While people did like the idea of the online profile and most of the information it contained, they were less enthusiastic about only being able to access the setup process through a chatbot. People liked the idea of providing information like pronouns, but information like passions seemed like too much information to give out and there were concerns it would be used by call center employees to chat about their interests and make interactions less efficient.  

• Asking for personal preferences such as pronouns, preferred name, language and accessibility accommodations is seen as respectful and appreciated.
• Participants like the idea of their financial literacy being gauged by their goals and interactions adjusted accordingly.

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Pros

• Asking for passions and financial goals comes across as too personal to some people.
• Some people prefer to do the initial set up of an account in person.
• Chatbots are perceived as clumsy by some people.
• There are concerns that the level of personal interaction between call center employees and people could lead to inefficient interactions.

Cons

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CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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Rank #3 – Chatbot: Alignment with Research Guideposts

Not Aligned

Aligned

Give people control — put them first

Not Aligned

Aligned

Be transparent and forgiving

Not Aligned

Aligned

Offer guidance — meet people where they are

Not Aligned

Aligned

Give people a reason to trust

Not Aligned

Aligned

Serve people and their communities

The guidepost people saw in the concepts is:

1. Give people control – put them first.

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It allows them to set personal preferences such as pronouns, preferred language and accessibility accommodations which people found respectful.

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The guideposts people did not see in this concept are:

1. Be transparent and forgiving
2. Serve people and their communities
3. Offer guidance – meet people where they are
4. Give people a reason to trust

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Rank #3 – Chatbot: Recommendations

CITI INCLUSIVE DESIGN PILOT – CONCEPT TESTING RESULTS

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1. Don't ask people for information that's not relevant to the banking relationship. (e.g., passions & causes)
2. Allow people to choose how they want to set up their account (e.g., in-person, on the phone, via chatbot or traditional form field input)
3. Give people the option to add financial goals, but don't make it a requirement.
4. Gauge financial literacy and adjust interactions accordingly during set up. Follow up with appropriate educational opportunities. Offer the option of both in-person and virtual learning.
5. Do not personalize call center interactions other than respecting peoples’ pronouns, preferred language and name.

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"With something financial or important like that initially, I need that human touch. It just feels very weird to me." 

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"Sometimes chatbots are really stupid and that can be frustrating."

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Next Steps

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Next Steps

CITI INCLUSIVE DESIGN PILOT – NEXT STEPS

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1. Pursue ideas behind the Level-Up Bank Account because it was ranked as the favorite concept. People especially liked the personalization based on goals. Keep in mind that asking for personal info that’s not related to the banking relationship is seen as disingenuous and unnecessary. See if there are in-flight or planned initiatives that could benefit from the feedback we received during testing.
2. Pilot the Mobile Pop-Up in different locations; as participants saw four out of five of the research guideposts in this concept. Since participants especially liked the in-person advisor, ensure there are people at the pop-up. People imagined this in different locations, so we recommend testing it out in different types of spaces and collecting continued feedback on what they like and dislike about a service like this. See if there are in-flight or planned initiatives that could benefit from the feedback we received during testing.
3. Although the chatbot was the least preferred option, people thought it was respectful and considerate for asking for pronouns, preferred language, name and accessibility accommodations — so build those into the account or profile set up process if not already included. Most participants preferred to set up an account in person, so make sure that option is available. Consider using the chatbot for simpler, more straightforward questions like bank locations and hours.
4. People didn’t feel like these concepts gave them a reason to trust the bank, so this should be a focus of future research efforts.
5. Continue to have conversations with product and business stakeholders to get ideas into the backlog.

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Thank you!