Segment: [Young]* Adult Account Holders *Primarily between 25 - 35, but if they are 18-24 and have an account they apply too. Interviews: After conducting the interviews, I learned that when someone wants to open a new bank account, they consider the banks with a branch closest to either their home or workplace. This is to choose the bank that best fits their needs, while still being a reasonable distance away. Some customers do care about their mobile banking experience, others see it only as a bonus. For those who already have accounts, and aren't happy with their current app, they consider going to the bank in person just to save time. Customers' preferences may differ based on their banks. Some prefer using the app because they can do it all through it, others prefer going to the bank because their app doesn't have some features, and they don't feel like spending 10 minutes or longer trying to figure it out. This specific segment in particular is mo...
The Opportunity Well, as I explained in my Bug List post, mobile payments are overlooked by both people and retailers. But I believe that people can benefit from a standardized mobile payment service. So, humans have a natural need for easy things. All innovative creations are a direct result of someone trying to make life easier for everyone else. During my time at Publix, I noticed people both appreciating that the card readers had gotten twice as fast, and at the same time complaining that paying can still be a hassle sometimes. I also noticed people trying to use different types of gift cards, and the inconveniences associated with them. This need is mainly present in young people, since we are the most exposed to technology, and also the most up-to-date with its changes and latest features. There are also slightly older people who try to stay ahead of the tech curve, and might also greatly benefit from this change. It has sort of always been there, and is also sort of relat...
Who: Actually, banks seem to be the most likely to fall out of the boundary. After interviewing a couple of bank employees and former employees, I found out that banks want to stay as independent as possible from one another. They would rather have less customers but be independent than be partnered with a much bigger bank and have 10 times as many customers and risk going down if anything happens to that bigger bank. I also interviewed an elderly couple, and I realized that there are people who don't particularly have more than one account, and even some who don't have an account at all. And so for these people, release of a global portal would not benefit them. In fact, if this portal became the new standard, it might even hurt them, since they would be forced to learn something new, or not handle their finances themselves, instead having a close friend or relative helping them manage their finances. What: While I initially described it as a nee...
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