Page 1 : Role of D cing in Banking, , “ ‘zing With digital banking users, , 1. Empathizing f data about customer needs and pain points, business goals, and product, Oa Sila ' vd at the empathize stage. Comprehensive research can help gather knowledge, ST aa] ies nd find ways to Improve the onboarding experience Far riew users. Also,, | out if the digital banking journey is frustrating at any stage., , sion Think, esign Thi, , ior al, ring Is crucial to fine ,, , alue and user pI oblems, , empathize stage Call help observe existing issues from the standpoint of, needs of the users, you can also highlight opportunities is, the observations and data from the research above, you can, pain points., , ions, , and unmet consumer needs, the next stage is to brainstorm and, s, At this stage,, , about usel hehas, , empath, > Defining core \, , When stating the, , » USCIS., ” g down all, , By layin, needs or common, banking solut, he pain points, e of creative ideas that will address those expectations or need, , | the team members come together to share notions, ideate, and build on each other’s ideas., a 1e LO ‘, , 4. Prototyping digital banking product € the id KY, yp ya -atatind hanift BrOduCte ts (Of ich ps » ideas work. You, rhe ooal of prototyping digital banking products is to find out which part of the 1aea, , have to weigh the impact of your ideas against their feasibility through feedback. Also, the, , concept can change based on feedback and the protype can lipdate accordingly., , = Testing banking prototype |, , At this stace. you have to put the prototype in the hands of your target audience. You have to see, dct meets the needs of the users and solves the problems that they were facing. Also,, , if your product, do not shy away from gathering feedback and continuously making improvements to your, , product., ieee thinking in banking determining success in today’s digital age, Design thinking and design is playing an influential role in determining the success of business, in any industry (including banking) and according to Stephen Gates, the head of Citi Design, Citi, Bank. “There is no greater Trojan horse to change an organization than design thinking.” This, fact is also supported by the DVI (Design Value Index) which is a summary of the market, performance of fifteen design-driven companies including SAP, Nike, IBM, and Apple., The banking industry has experienced a period of disruption owing to technological advances, and a shift to design thinking. Let’s talk about Citi Bank. The banking giant that has gone all-in, to explore design thinking; with their efforts to make each customer interaction stronger., Citi launched its FinTech unit in October 2015 to act like a startup inside a bank that is dedicated, to mobile-first solutions for its banking customers. The bank even signed a deal with a design, consultant, Ideo, to train Citi employees on design thinking. Design thinking permits everyone to, participate and come into the process. The company considers this a massive transformation that, has helped them move forward and creativity isn’t just a department anymore. From Citi’s, mobile app to the introduction of new products and services; everything revolves around, ensuring a smooth with customer experience., , Even the Deutsche Bank is utilizing design thinking to achieve customer proximity., , How can Banks overcome challenges associated with Design Thinking:, , 1. Empathizing with customers and knowing that simply declaring ‘customer-centric’ is no, , longer enough, , Understanding that customer is the core of banking. And, so is taking proper steps to ensure that, , you meet consumer needs. Design-driven efforts encourage reaching out to customers to find out, , innovation., identify unmet nee, 3, Ideating online, \ fier identifying |, , collate a wide rang