Charles Darwin, perhaps the foremost authority on human adapting, believed, “struggle is the father of all things.” Whether we’re deciphering economic implications for our business, losing shareholders, furloughing employees, or trying to catch up to a demand spikes, we’re all struggling with something right now.
To make it to the other side of this battle, it’s important we design solutions that deliver on consumers’ shifting needs. To this end, a human-centered approach like Design Thinking will ensure we construct ideas that are as empathetic as they are functional. Design Thinking is a strategic process for better understanding the consumer, questioning conventions, and redefining the problem to identify the best solution.
Although employment was at a low a few years back, the banking world noticed a financial problem that needed a design-thinking process solve. Nearly 70 percent of people had less than $1,000 in their savings account. But a legacy brand, Bank of America, launched a progressive solution called Keep The Change®.
The optional enrollment program gives consumers an intuitive way to save without even thinking about it. By rounding up everyday purchases to the nearest dollar and transferring the change directly into savings, customers saw their accounts grow without missing the extra pennies in their pockets. A win-win for the bank and its customers in the collective battle for savings.