What is the future role of in-branch banking?

HSBC were keen to explore the current branch banking market and how it could adapt in the future.

 

With the growth of online banking and new fin techs that are ‘app only,’  HSBC was keen to explore what the future of the bank branch could be.  How could they modernise their current experience to meet the demands of today’s customer, and how could they use their branch estate to attract non-traditional branch customers in, to engage with new products and services?

Brancg Inside.jpg

Approach.

 

The project was split into three parts:

  1. Exploration into the current market and future trends

  2. Alignment of these experiences with the HSBC brand

  3. The development of a set of initiatives to be implemented 

The component that I was responsible for was the depth research and the creation of a McCann Truth Wall.

A Truth Wall is a method used to visualise a complex and deep set of desk research, data and qualitative insights that were undertaken.  I used various research tools and methods to collate an in-depth study that was used as the foundation to the brand alignment and idea-generation phase.

The Truth Wall is broken down into five core components: 

Culture - macro-level forces that shape people’s lives, attitudes and behaviours.

Category - overall category dynamics and conventions that are defined by the brand and its key competitors.

Company - current business activities, and how these could affect the future.

Consumer - a profile of attitudes, beliefs, and values of the people the brand is targeting.

Connections - all the possible places, moments, and conversations where the brand can earn its way into the consumer’s life.

The research that was undertaken ladders back to a core truth for each component.  This provided a key overview of the research, and a direction of travel for HSBC when considering each component.

The five core truths were then fed into the ideation sprint to generate a number of high level initiatives that could be considered by HSBC for implementation. 

Outcome.

 

The depth research was displayed in a visual artefact that allowed for the data to be consumed in an easy-to-digest format.  It was then uploaded into Prezi to create a more interactive experience that could be presented remotely. 

References were provided for all of the insights to allow HSBC to further explore the articles.  The depth research was used to inform the ideation and prioritisation stage of the project. 

In total it informed 15 potential ideas for HSBC to explore within their branches.  These were then input into a prioritisation tool that analysed the complexity of implementation vs. the expected impact. 

All the work was presented back to the HSBC branch marketing team during the UK’s COVID-19 lockdown period and a number of the ideas are currently being explored for implementation.


HSBC Truth Wall

HSBC Truth Wall

Methods & Tools.

 

The information below details a selection of the methodologies, techniques and tools used to deliver the project.

Methods.

Desk research

Qualitative interviews with HSBC employees

Remote workshop session

Remote playback session

Ideation sprint

Ideation prioritisation  

Tools.

Microsoft Teams

Adobe Illustrator 

Keynote

Prezi 

Mintel 

Trend Explorer

Contagious

Prioritisation tool

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