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Driving Banking into the Community

Driving banking into the community is an alternative method to get financial service support to consumers.

Photo of sctrojans100 .

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Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

This concept was based on how we can get banking services to consumers who may not have the means or ability to get to conventional brick and mortar and may not utilize online or mobile phone banking. This idea can be expanded into a banking concierge service (like a hotel's room service) and physically park the mobile branch in strategic locations that can service many - essentially, we are delivering full-service banking services, advisors and all to consumers.

An amazing experience with the Open IDEO team learning the HCD design process for credit unions. We stormed through many ideas on how we can support the financial services obligations of those 50 and older. This team was compromised of four awesome participants - two from the tech sector, one from credit union land and a member form the Open IDEO team. All awesome ideas, we landed on how we can bring financial services to the community and involve the community.  We drew the financial services bus, aka Banking Bus and added all the features of a conventional branch and even brought along a recycle bin. This service provides options to those that cannot physically or are unable to get to brick and mortar for financial transactions. We intend to onboard mobile financial service advisors, translators if needed and provide a channel for consumers to get involved in community events. Consumers can call for this service and or the service can be resident at scheduled intervals.

Please check all that apply:

  • I'm currently a member of a credit union
  • I'm a credit union employee

This idea emerged from

  • A group brainstorm

11 comments

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Photo of Kate Rushton
Team

Hi Sctrojans100!


I hope you have had a nice start to the year.

Would you be able to tell me the user journey of a customer using the bus? What part of your idea could you prototype? Are there any lightweight experiments you could conduct in your community?

There is a great user journey in https://challenges.openideo.com/challenge/end-of-life/top-ideas/vykarious

An example of how to prototype a small part of the user journey is given in the Women’s Safety Challenge:
https://challenges.openideo.com/blog/experience-prototyping-preparations-for-womens-pool-idea

Photo of OpenIDEO
Team

Welcome to the Refinement phase Sctrojans! We've added new Refinement questions to your original submission that we'd love for you to answer. Please check out the Refinement Phase Toolkit for instructions on how to answer the new questions and other recommendations we encourage all idea teams to consider in the upcoming weeks.

Refinement Phase Toolkit: http://ideo.pn/2du9sf7

Lastly, here's a useful tip: When you update the content of your post, it'd be helpful to indicate this in your idea title by adding an extension. For example, you can add the extension " - Update: Experience Maps 12/21" to you idea title. This will be a good way to keep people informed about how your idea is progressing!

Photo of Kate Rushton
Team

Hi Sctrojans100!

I look forward to seeing how this idea develops in the refinement phase.

Photo of Sara Camnasio
Team

Hi! This is an interesting idea, very similar to one ofours: Branch on Wheels 
Have you developed this further? We were initially thinking about developing one of our other ideas (a digital product) but we revisited it and decided a service might be best. Would love to keep in touch about where you decide to go with this!

Photo of Kate Rushton
Team

Hi Sctrojans100!

Thank you for sharing your idea. I like it! 

What is the next step in realising your idea? What group / demographic of credit union members would you need to get feedback from?

It might be worth you looking at this other mobile banking idea that has been submitted - https://challenges.openideo.com/challenge/financial-longevity/ideas/branch-on-wheels

Are there shared learning opportunities? What can you do differently?

Photo of Anne-Laure Fayard
Team

Kate Rushton thanks for connecting the 2 ideas. I posted the link on Qyana Jené and her team idea. 
sctrojans100 . it'd be great to know how connected or different the 2 ideas are for you. 

I'm curious to know based on your experience as a credit union employee what were the insights that led you to this idea. Do you have a specific age group in mind? You said you would put on all the conventional branch on the bus? What are the additions? the translator and advisor? Do you see these as services you could also offer (at least translators) in the branches? I'm curious to know more about the type of community event you would want to connect customers to. 

Photo of Bettina Fliegel
Team

Hi.  This is an interesting idea.  I am also curious as what lead you to the idea.  (like Anne-Laure Fayard )  What type of community is your credit union located in?  

 I see this idea as being very appealing to folk in their 50s that are active, tech savy, busy, working if it were set up in a way that they could track where the bus would be when, in a similar way that people do with food trucks.  I imagine this working well in rural, suburban and urban environments.  One might be able to plan  a stop to the bank bus in a certain part of town, combining that stop with other errands, if they knew in advance where the bus would be when.  This could be very helpful particularly if the main branch is not convenient to home or work.
 
 Have you considered bringing the bus to areas where folk congregate such as open air markets?

 Are you considering the possibility of scheduling appointments with advisors on the bus?

Looking forward to seeing the idea develop!

Photo of Wingee Sin
Team

Hi! I love this idea - especially the Banking Bus potentially visiting all the senior homes/ assisted living locations, or one's workplace so you don't have to miss work.  What a great way to create community and engagement!  (reminds me a lot of mobile dentistry)
Wingee Sin 

Photo of Anne-Laure Fayard
Team

Wingee Sin I was wondering if you could comment on another mobile banking idea:
https://challenges.openideo.com/challenge/financial-longevity/ideas/branch-on-wheels Thanks!

Photo of Qyana Jené
Team

Thanks for connecting us Anne-Laure Fayard ! sctrojans100 . , there are some parallels between your idea and ours, which is really interesting. I love the language around "banking concierge" service which I think can appeal to people even outside of the 50+ demo, but even more specific to this challenge, I think it could be appealing to consumers who are over 50+ but still vibrant and mobile (would look at the service as a way to make their time more efficient vs. needing it because they can't move around). I also like the multicultural element where translators would be included. I think the biggest challenge in both ideas (yours and ours), is communicating it in a way that those who are on the younger, active side of 50+ don't feel like this is a service for "the elderly".

Photo of OpenIDEO
Team

Congrats on this being today's Featured Contribution!