The Brief
PNC recognized that their existing customer base was aging, and saw market value in attracting a younger demographic (Generation Y) to their banking services. But how?
The Work
The IDEO team conducted multiple rounds of design research with young professionals in their first "real jobs" out of college. Nearly all participants had been stung by easy credit in their college years, and were anxious about keeping their financials in order. Their mechanisms for control varied widely–some used only cash, some used only plastic–but the common need was for a tangible connection between their money and their individual lives. Modern online banking tools were contributing to disconnection and intangibility.
The team developed calendaring tools and manipulatable infographics to embed financial information in the context of the unique lives of individuals and to promote a sense of awareness and control. Based on a user's individual patterns, the calendar highlights "danger days" when balances might run low, highlights all scheduled payments and paydays. The account infographic overlays balances with upcoming payments, thus making clear how much money is actually "free". It also allows for fluid transfers between checking and savings through a simple drag of the cursor.
The team delivered an interaction design specification for the complete online experience.
The Impact
Two months after launch, 80% of new business was coming from Gen Y.
Virtual Wallet grew to represent 25% of new accounts.
Virtual Wallet grew to represent 25% of new accounts.
"I have recommended Virtual Wallet to all my friends. I have never felt more in control of my money in my life." Matt, recent college graduate
My Role
Team leader
Conceptualization
Sketching/Prototyping
