Client SomiaCX

Project Duration 10th year Anniversary

Project Location Indonesia

Since 2012, we’ve been working on a variety of interesting projects, many are related to the micro-segment, finances and how they use technology in Indonesia. It is a promising segment with massive growth potential in terms of financial and tech adoption. Additionally, we discovered that current approaches to attract the interest of the micro-segment are not fully optimized yet.

Overview

To celebrate our 10th Anniversary, we would like to share our learnings and experiences regarding this segment. We have written them into this book, hoping that the information we provide can inspire readers to develop more effective strategies to introduce finance and tech adoption to the micro segment. If you want to know more about this publications or to collaborate with us, feel free to contact us. Enjoy!

Read The Books Here!

Concise Version:

8 Recommendations to Improve Financial Adoption
for Indonesia’s Micro-Segment

Detailed Version:

8 Recommendations to Improve Financial Adoption
for Indonesia’s Micro-Segment

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Client Bank / Financial Service

Project Duration 8 weeks

Project Location Indonesia

Helping one of the biggest state banks create the first-ever bank-owned digital lending product for two distinctive markets: micro and consumer segment. The micro segment would be focused on unsecured loan products while the consumer one would be credit limit.

Overview

Both products have been launched with great traction. Micro segment lending application launched in February 2019 and has gained a lot of attention and business impact. From February until December 2019, it has 80% growth month on month, even 241% in July 2019. It also got IT Works Awards for Top Implementation 2019 on Bank Sector, Top Digital 2018 on Lending Apps. Consumer credit limit application launched in December 2019 and has attracted more than 3000 users and got 7000 transactions until March 2020.

Our Approach

To create a banking product in Indonesia we not only need to cater to the customers needs and business objectives but also need to make sure that we comply with the regulation set by Bank Indonesia (BI) & Otoritas Jasa Keuangan (OJK). Therefore from the start we worked closely with all the related parties within the client: business, IT, and the compliance departments. Together we did user research to understand the customers loan related behaviors and also came up with product strategy before creating the detailed interaction design of the products.

Most participants were unable to continue the task when they faced input controls in the application process

Our Journey and Process

Product Induction & Workshop

We downloaded all the information from the team (prior research, product draft, business objectives, success metrics, even draft calculation formula created by the product team) and also clarified questions we received from studying the documents sent to us. We did this and all other activities twice, since each segment will have one dedicated product.

Workshop

In the workshop, we mapped the hypothetical value proposition of the products. These gain creators, pain relievers, and product & services would not only be used for initial concepts but also for creating branding drafts for the products, since it would be a totally new product and had no ties to any other clients’ product in the past.

User Research & Synthesis

We dug around potential customers’ existing loan journeys with In-Depth-Interview & Focus Group Discussion, whether there were pain points or unmet needs then gathered their feedback for the initial concepts we created. Data we gathered from all the sessions, then we synthesized to shape product strategy, features and communication plan (branding and visual direction included).

UI/UX Design: Low Fidelity & Usability Testing

Product features that came out from the synthesis activity then furtherly developed into low fidelity prototype in the form of clickable wireframes. Wireframe form allows us to focus first on structure, interaction pattern, and usability of the product and quickly test it with potential customers and iterate it before then applying appropriate visual direction to the product.

UI/UX Design: UI Design

We developed UI Design to match visual preferences of each segment. For the micro product we applied a vibrant color tone that is usually found in their surroundings with high affordance interaction elements to accommodate their low digital savviness. For the consumer product we went with a modern & clean look with flat design while still maintaining the affordance of the elements.

The Results

Lending applications are developed not only based on business objectives but incorporating customers behaviors. The results are applications that have specific features that answers customers needs while also still comply with the regulation, such as:

We realized that for most people in the micro segment, smartphones were their first computer, and they were only accustomed to applications they use daily: WhatsApp & Facebook. Input control such as radio buttons and switch control are unknown to them. Learning from these findings, we changed our interaction to make sure only to use ones they already knew in those applications.

Since they usually have limited amounts of income, the micro segment tends to calculate whether they could afford the loan before applying for it. They do this not by seeing the interest rate, but by comparing the installment they need to pay monthly with their income. To accommodate this insight together with the client we provide backward calculation where customers can apply for a loan based on their maximum monthly repayment capacity instead of the amount.

People in the consumer segment who have credit cards have difficulty tracking their credit limit usage since they can only see the details at the end of the credit cycle. The product provides real time tracking on the credit limit they have used so they have better control of it.

Awards & Recognitions

We are very honored and humbled that our solution has been nominated in IT Works Awards

TOP DIGITAL Awards 2019

for Top Implementation 2019 on Bank Sector

What Our Client Said

I had a great experience working with Somia. The team was highly dedicated to the project. They gave inspiring solutions from many point-of-views, and the output they produced were amazing. Thanks to Somia Team, keep rocking!!

Roy Salat

Bank Rakyat Indonesia, Digital Micro Proposition Manager

Consultant in-charge

Ukasha Q.A.P

Interaction Designer

Mahendra Gudhakesa

User Researcher

Mateus Situmorang

Interaction Designer

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Design Implementation for CASA of Micro-segments

Client Bank BRI

Project Duration 5 months

Project Location Indonesia

How might we get people to save their money in a Bank? Bank BRI (Bank Rakyat Indonesia) wants to increase CASA (Current Account Savings Account) for Indonesian micro-segments areas. The approach is to solve financial inclusion for those segments through developing value propositions as well as developing products and services to get customers to save in the bank.

Overview

Transforming into digital is not always the solution. During 2 months of product testing, more customers started to have new accounts at BRI. We collected approximately $2,750 from 61 new accounts. More than just customers, we helped increase trust and awareness of Bank Agents in the area and the direct impact of the bank itself has collected about $2,750 with an average of $53 savings per transaction.

Our Approach

The project consists of two phases using a human centered design approach. The first phase of Value Proposition Research is to understand the behavioral types of micro segment users, why they don’t save their money at banks yet. From the behavioral insight and field findings, then we formulated Design Principles which would become our guide to the second phase of iterative design, prototyping, and implementation.

Collecting insights and co-ideation with stakeholders, agents, and customers

Our Journey and Process

Stakeholders Interviews and Co-design Workshop

We conducted interviews with the stakeholders to brainstorm ideas and prioritize solutions based on their impacts and efforts to make the changes.

Synthesis and Concept Iteration

We interviewed and observed customers around different cities and rural areas in Indonesia to understand their motivation and pain points to do savings at Banks. We also tested some concepts to see their preference of solution and to gather feedback on the concepts.

Concept Prototyping

After we finished field research in one city, we did a synthesis to capture insights from the research so we can improve the direction of the research for the next city. The concepts tested during the IDI are also iterated based on the feedback and we conceive other concepts based on the concept testing.

Implementation

We have detailed out the service design to ensure successful implementation. Within four iterations with different physical prototypes to find the design of the product that would fit their needs. We designed and produced the product based on the feedback from the customers, Bank Agents, and Stakeholders.

Prototype Testing and Implementations

The Results

During the project, we worked closely with the BRI core team. They were directly involved in the field research, recruitments, IDI, synthesis, and almost every stage of the projects. By working collaboratively, It helped us further understand the client’s need and what’s important to them on the project, so we can dig deeper on their preference and goals to ensure a better research result that fits the client’s vision. It also directed the project’s course so we could manage the project’s time and resources more effectively.