Meaningful engagement

Finnur Magnusson Chief Product Owner @gommit

Meniga is helping leading banks around the world personalize their digital customer experience and build new business models around data

CONTINENTS COUNTRIES OFFICES ONLINE USERSEUROPE

NORTH AMERICAAFRICA

AUSTRALIA

18 LONDON (HQ)REYKJAVIK

STOCKHOLM

35 MILLION

About Meniga

ASIA

Meniga´s Product Portfolio

DATA CONSOLIDATION & ENRICHMENT

PERSONAL FINANCE BUSINESS FINANCE

DIALOG – ENGAGEMENT PLATFORM

CARD LINKED OFFERS CONSUMER ANALYTICS

Digital Banking Products Marketing Products

Partners - Santander Money Plan

App based on an internal friends & family pilot (Moneybit). Now live in Spain.

How can banks build meaningful engagement?

Habit forming loops vs

Design for time well spent

Motivation vs

Ability

How we work &

Latest concepts

Habit forming loops vs

Design for time well spent

Habit forming loops

Responsibility

50 minutes per dayAs of mid-2015, total sharing had declined by

about 5.5% year over year while “original broadcast sharing” was down 21% year over year

theinformation.com

Design for time well spent

Remove hurdles and simplify Teach me something

Better rewards Ease of use

Motivation vs

Ability

Motivation and context

Sometimes people are highly motivated and able to think hard about their finances.

Even change their behaviour.

At other times it is just about doing the basics … on their mobile.

You need to provide support for both and allow people to advance by investing time and effort.

Motivational waves

Motivation and ability

Ability

Mot

ivat

ion

Categorise

Challenges

Net worthBudgeting

Peer comparisonTagging

Reports

Split

Rules

Offers

EasyHard

High

Low

Upcoming

Trigger death zone

EMPATHY summary:

(people are strange)

ConscientiousnessA tendency to be organised and dependable, show self-discipline, act dutifully, aim for achievement, and prefer planned rather than spontaneous behaviour.

NeuroticismThe tendency to experience unpleasant emotions easily, such as anger, anxiety, depression, and vulnerability.

Big Five personality traits

Openness to experience + Conscientiousness +

Extraversion Agreeableness - Neuroticism -

This is why personalisation is so

important

100% increase in monthly active users

5X increase in weekly active mobile app users

60% of active users categorise

Financial Activity Feed

Engagement hooks

Meniga offers additional touch points to traditional bank actions.

• Categories • Comments and tags • Spending goals and challenges • Saving goals • User events, insight and reports

Automated user events are key to driving engagement

Personal finance tips & advisory

Playful event-driven notifications

Spending pattern warnings & alerts

Insightful spending reports

Personalized discount offers and product recommendations.

How we work

Testing with real people is golden

Mobile testing

• Lookback.io • One off guerrilla sessions • Recordings and review

Community feedback

• Server and client metrics • Data warehouse • Tableau and custom reports

Saving goals metrics

Functional workshops

• Bank innovation labs • Leading design agencies • Conferences and hackathons

Hackathons

Highlights from last sprints

Challenges How do we help more people reach their financial goals?

Short term changes in behaviour with the aim to increase savings.

Overwhelming user feedback.

Specially with the “financially challenged”

“Can I start using this now?”

Disconnect goals from bucket lists.

UpcomingHow much do I have and how much can I spend?

Build meaningful engagement by providing value.

Remove hurdles, surprise and inspire.

Strive for best in class usability and experience.

Design for the motivational peaks and troths.

Test early and often.

Ship it and measure impact.

Questions? @gommit