Financial Services – Somia Customer Experience

The project aims to identify key challenges and opportunities in the onboarding process and produce actionable and localized insights that directly benefit digital financial inclusion activities. Unbanked and underbanked included here are farmers, informal workers, micro-entrepreneurs, and economically inactive (Students & Wife). The project also focuses on more rural areas where the conventional banking infrastructure is typically lower. The research is done in parallel in 4 different countries which has big number of unbanked underbanked population: Indonesia, India, Bangladesh and Uganda.

The Impact

We shared the research results in different dissemination forms with different relevant stakeholders, such as 1-on-1 sharing sessions with partnered key players, conference talks, and sharing series such as:

1-on-1 sharing session with more than 7 different service providers and relevant stakeholders
Speaker in UXA Masterclass Conference 2023 in Spain (120+ attendees)
Speaker in Somia Conference 2023: System Thinking in Design (120+ attendees)
Visionary Talk and Exhibition Booth in Indonesia Fintech Summit 2023 (3000+ visitors)

Our Approach

The research is conducted in 3 provinces: North Sumatra, East Java and South Sulawesi, as representative of the west, central and east region of Indonesia to best represent the geographical context. This locations are selected as they have barriers in limited banking infrastructure, low economy and financial literacy but have good internet penetration and digital availability as the basic requirements of the adoption.

The thick research uses an ethnographic approach to discover and document the onboarding journey of different segments in different services (agri-tech, mobile & digital banking, digital wallet, digital lending, QRIS, and government aid – PKH & Prakerja).

ECOSYSTEM & STAKEHOLDER LEVEL

As support systems and infrastructure are crucial in digital financial services adoption, we started by understanding the context and mapping the ecosystem. This includes observing the infrastructure in the system, their roles, the communication used, etc. From our initial landscape mapping, we identified several key stakeholders and gathered data through transect walk, shadowing, and in-depth interviews with key government and service providers stakeholders.

PRODUCT AND PERSONAL LEVEL

Understanding the products / services used and deep dive into the target group context, literacy and behaviors towards DFS as well as the detailed onboarding process. In this phase, we also dug deeper into findings from the ecosystem mapping and stakeholder & provider discovery. The data was collected from various methods such as intercepts, Focus Group Discussions, shadowing, fly on the wall to In-depth interviews.

Interviewing respondents in their farming land

Using stimuli to get honest reaction during the session

Talking to the local government to get the different point of view

Our Journey and Process

Phase 1 Project Visioning & Landscaping

This phase started with detailing the project plan, teams visioning on outputs, outcomes, and methodology. Then, followed with developing partnership strategy and outreach with financial service providers, sampling strategy and framework, design of research tools, IRB approvals submission, and market recce.

Phase 2 Discovery

The phase is divided into 3 rounds of discoveries (field research). In each round, we did the analysis, synthesis, internal learnings workshop, country-wise socialization, feedback and iteration of the research approach.

Phase 3 Compiling Outputs and Dissemination

In the end phase of the project, we did analysis and sense making across all the three rounds of the discovery by country followed with compiling the global cross-country learnings. In parallel, we did country wise dissemination and is closed by global dissemination with relevant stakeholders.

Illustration showing the challenges the unbanked and underbanked encounter when doing onboarding process

Delivering insight in the form of financial newspaper and distributing it at Indonesia Fintech Summit and Expo 2023

Sharing the insight in the Inspiration Stage at Indonesia Fintech Summit and Expo 2023

The Results

The insights that we gathered from the research are extracted in different formats, from journey mapping, illustration, and short videos. The key challenges are identified and mapped in each stage of the journey from pre-during-post onboarding, including awareness, perception, consideration, decision-making, and application to usage.

The understanding of problem spaces in each stage is also equipped with the opportunities collected from good practices observed in the field and design principles as inspiration and to bridge the implementation.

Consultant in-charge

Chin Burkotler

Project Oversee

Uka Q.A.P

Partnership Lead

Anindya Fitriyanti

Project Lead

Rayi Harjani

User Researcher

Daniel Fandra

Research Ops

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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.

The Impact

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

Chin Burkotler

Interaction Designer

Uka Q.A.P

User Researcher

Rayi Harjani

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.

The Impact

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.