THE SITUATION
The Ask: See how other banks' account statements address compliance regulations and find other opportunities to improve our own account statements.
The Problem Redefined: Focus on the outstanding compliance findings, comparing and establishing a new baseline with a new untested statement design made by another design group two years prior.
The Goal: Better define the problems space so we could align the issues behind the account statement regulatory findings and the needs of customers to improve their experience.
THE RESPONSE
The Strategy: To combine what we learned from documentation deep dive and a competitive analysis to create objectives for a Userzoom test designed to find where our real opportunities to improve bank statements could be found.
Document Deep Dive
Reviewed customer complaint documentation looking for problems that would reveal the ways the statements are falling short of their purpose to help customers manage their finances.
Competitive Analysis
Compared our statement with a collection of competitors', both large and small, traditional and fin-tech.
Userzoom Test
Tested assumptions and hypotheses formed during Deep Dive and Competitive Analysis, comparing how well different people could locate, comprehend and utilize the info on two versions of our account statement.
THE RESULT
Lessoned Learned
Userzoom survey analysis.
Userzoom statement comparison synthesis.
Userzoom statements key insights.
While we came away with ideas for further testing and iterating toward a strategic solution for bank statements, our work was reprioritized after this first round of testing, but we were able to get some of our insights considered for their test:
__•_Fees are really the only area people have issues with on the statement.
__•_Most people would look online for more info.
__•_People don't expect much out of their statement beyond the most basic info.
How Lessons Were Applied
We were able to coordinate with business to included our insights into a tactical version of the statement that has since been rolled out to a limited test group of bank customers.
Original Statement
Alternative Statement Design
