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I N N O V A T I O N A S A S T R A T E G Y

Southwest CUNA Management School Fort Worth, TX - July 21, 2014

N I C E T O M E E T Y O U !

Andrew Downin innovation director @AndrewDownin

H E L L O F I L E N E R E S E A R C H I N S T I T U T E

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T H I N K

D O

C H A N G E

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T H I N K . D O . C H A N G E .

ideas

innovation

implementation

W H E R E A R E T H E C R E D I T U N I O N S ? A N I N N O V A T I O N I M P E R A T I V E

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D I G I T A L D I S R U P T O R S

Credit advice and management

Bill management and bookkeeping

Social network/ P2P banking

Digital wallets

O N T H E H O R I Z O N

Threats to attention, engagement, and loyalty?

C R E D I T A D V I C E L E A D S T O S A L E S C R E D I T K A R M A

P E R S O N A L A S S I S T A N T F O R T H E ‘ L I T T L E G U Y ’ F I N O V E R A

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H I E R A R C H Y O F P F M N E E D S P F M R E P L A C I N G T H E M S R ?

Instruct

Interpret

Inform Where is my money?

How am I doing?

What should I be doing?

P 2 P C A S H T R A N S F E R S V I A E - M A I L S Q U A R E C A S H

T O P O F … W A L L E T ?

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S E L E C T I N G A S T R A T E G Y

Member Intimacy

Operational Excellence

Product/Service Leadership

•  Relationship management

•  Customization

•  Exceptional service

•  Often a heavy focus on employees

•  Can generally command premium pricing  

 

•  Streamlined operations

•  Efficiency leads to fewer employee interactions

•  Focus on convenient, electronic channels

•  Efficiency often translates into better pricing

•  Product development focus

•  Cutting edge of innovation

•  Significant investment in technology

•  Members who want the latest and are willing to pay

Human-­‐Centered  Design  Toolkit,  Version  2,  IDEO  

T H E F I L E N E M E T H O D

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D E S I G N T H I N K I N G

DESIRABLE

FEASIBLE VIABLE

Human-­‐Centered  Design  Toolkit,  Version  2,  IDEO  

Adapted  from:  Human  Centered  Design  Toolkit,  Version  2,  IDEO  

W H A T W E R E T H E Y T H I N K I N G ?

I N S I G H T S G O A L

Identify a problem to solve through the collection of data points

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T H E K N O W L E D G E F U N N E L

W H E R E C A N W E L O O K F O R I N S I G H T S ?

→  Observational (ethnographic) research →  Your branches—teller lines are rich with data! →  Trade publications, local and national news →  Our everyday environments →  Social media →  Other industries →  Become an information glutton!

B E A N I N F O R M A T I O N H O G

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P R O B L E M I D E N T I F I C A T I O N - G O A L

Use a variety of data to establish a clear problem for a specific audience.

P R O B L E M T R E E A N A LY S I S

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Samantha Switcher

“I love my low-fee credit union

checking account. Who needs banks?!”

Overwhelmed with the switching

process, disillusioned

Opening a CU account but never

finishing the process

Cumbersome direct deposit forms, stacks of bills

“I know I’ll be better off, but I can’t

keep track of all the paperwork”

F A C T C H E C K - G O A L

Incorporate internal and external data to objectively assess if you should

pursue your idea.

D O O T H E R S O L U T I O N S E X I S T ? F A C T C H E C K

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H O W I S Y O U R I D E A D I F F E R E N T ? F A C T C H E C K

D O Y O U H A V E D A T A T O S U P P O R T Y O U R I D E A ?

F A C T C H E C K

W H A T U N K N O W N S S T I L L N E E D T O B E R E S E A R C H E D ?

F A C T C H E C K

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G U T C H E C K - G O A L

Ensure team alignment and passion exist for the innovative solution before

valuable time is spent prototyping.

C R E A T I V E "P R O B L E M S O L V I N G "

T O O L S

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S C A M P E R

S C A M P E R

→  Substitute something

→  Combine it with something else

→  Adapt something to it

→  Modify or magnify it

→  Put it to some other use

→  Eliminate something

→  Reverse or rearrange it

Adapted  from  Michael  Michalko,  Thinkertoys,  1991.  

J E N G A !

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J E N G A !

→  Select one or two random nouns that have nothing to do with the problem at hand →  Dictionary →  Random noun generator (desiquintans.com/noungenerator.php) →  Jenga!

→  Think of a variety of attributes that are associated with your chosen words

→  Force connections between the attributes and your problem →  List your ideas and see what sticks!

T H R O U G H Y O U R U S E R S ' E Y E S

W H Y P R O T O T Y P E ?

→  Vision vs. Reality →  See problems quickly →  Share ideas with people →  Get feedback—good, bad, and ugly →  Brings debates to a head →  Further refine your idea

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Iterative Prototyping

Build

Test Learn

       

   

   

   

   

           

→  Mock-Up →  Powerpoint design is okay! →  Simulated web pages or screens

→  Live (or pseudo-live) site →  Bootstrapping and finding tech

resources →  Manual experience

→  Build as much of what your users will experience as possible

→  Manual “behind the curtain” work on your part is okay

→  Schematic Diagramming →  Draw the structure of your idea →  Show the flow – where and how

people interact →  Story/Storyboarding

→  Take people to the future when your idea is real

→  What is the experience like?

M A N Y D I F F E R E N T W A Y S T O P R O T O T Y P E W H A T ’ S T H E E X P E R I E N C E L I K E ?

C O M M U N I C A T E T H E E S S E N C E

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C O M M U N I C A T E T H E E S S E N C E

M I N I M U M V I A B L E P R O D U C T

P R O T O T Y P I N G I N A C T I O N

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P R O T O T Y P I N G I N A C T I O N

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M I N T U I T I O N S O M E E X A M P L E S F R O M I 3

Started  as  Learn  &  Earn  

C E N T S U S S O M E E X A M P L E S F R O M I 3

L E E F L E T S O M E E X A M P L E S F R O M I 3

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F E E D B A C K I S K E Y W H A T D O P E O P L E T H I N K ?

G E T Y O U R P R O T O T Y P E O U T T H E R E

→  Share it with your colleagues, friends, and family →  Find some strangers! →  Focus on your target audience →  Ask questions—quantitative and qualitative →  Allow for anonymous feedback →  Observe it in use

T E S T I N G ( A P R E V I E W )

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W H A T D O Y O U W A N T T O K N O W ?

→  Attractiveness/demand →  User understanding of concept goals →  Ease of use and ‘pinch points’ →  Likelihood to use/refer in the future →  What should be changed →  What to charge

Make sure your prototype is developed with testing goals in mind!

T H E E L E V A T O R P I T C H

FOR (target customer), WHO HAS (customer need), (product name) IS A (market category) THAT (one key

benefit), UNLIKE (competition), THE PRODUCT (unique differentiator).

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Y O U W E R E "O N C E C R E A T I V E

B L A M E F I F T H G R A D E

Y O U ’ V E G O T "W H A T I T T A K E S

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W H Y I N N O V A T E ?

Human-­‐Centered  Design  Toolkit,  Version  2,  IDEO  

time

growth/ progress/

profit

reactive path innovative path

Q U E S T I O N S ?

andrewd@filene.org @AndrewDownin

T H A N K Y O U !