Hypothesis
“Do they really know me?”
Instead of making a full application for credit and filling out a long form, would customers just check what Westpac already knows about them, and add what’s missing or what’s changed?
As Customer Experience Program Lead on the project, it was my task to establish the service design approach to solving some of Westpac's core business problems:
* how does a financial organisation clean up their data sources and use insights more effectively?
* how does a bank meet customers service needs and expectations about being assisted in their home buying journey?
* what will make the difference in the marketplace, so that customers stay engaged long after purchasing their first/next home?
Insights
Intelligent conversations that help inform a customer to make the next-best possible decision in their home ownership journey, don’t just happen by filling in a form. In fact, one of the key visionary principles of the program was to provide a ‘no forms experience’.
Ideation
The service model utilised the customer centred design process with a Lean approach of establishing real problems. The needs and pain-points of home owns customers and the home loan staff specialists were investigated and how they interacted with each other throughout the process.
The solution
A digital core that allows customers to choose where they want to be:
* Customers can explore their options and build a relationship with a lender at their own pace.
* Customers can verify their options and borrowing amount (including tailored pricing).
* Customers can continue to access tools that help them narrow the property search and refine their scenarios. They can get formal approval and loan documentation online.
* Customers can always see options for their next steps, including existing equity and pre-approved borrowing amounts (including tailored pricing).
* Customers can manage their loan online and access top up / variation immediately.
Lenders have access to the same digital core to assist delivering optimal service:
* Staff can explore tools and options with customers, interact by answering questions related to scenarios or set customers up with tools for home use.
* Staff see information that has been shared by customers, so they can help them compare and validate scenarios (including tailored pricing). Staff can always see how much of the application has been filled out ‘in the background’ and easily complete this for approval.
* Staff can assist customers using the same system to approve loans, generate and track documentation.
* Staff see the same options that have been generated for customers and have the systems to help them pro-actively support customers (including tailored pricing).
* Staff can assist customers using the same system to manage changes to loans.
