How to tackle a £10 Billion markethelping NatWest identify and tackle user needs
Mubaloo partnered up with the NatWest Digital Experience team to support them in creating innovative digital solutions for their customers. NatWest have a vision to deliver customers the best commercial premises purchase and ownership experience in the market.
The first task that NatWest gave us was to use technology to find innovative ways to improve efficiency and enhance their customers’ experience by solving their pain points.
Mubaloo took an outcome-driven approach to better understand those customer challenges by engaging participants (from across the market) that had recently gone through the process of purchasing a commercial property. The aim of this was to understand the motivations, anxieties and required outcomes that sit behind what is considered a sizeable undertaking for most people. To do this we used a Jobs-To-Be-Done framework that allowed us to break down and analyse the customer needs.
Mubaloo used interviews and focus groups to map out a detailed list of “needs” that a customer has when they are looking to grow their business through the purchase of a commercial property. These needs were then surveyed with a wider audience to both validate the findings and to identify “unmet needs;” i.e. those that are considered important to customers but are not currently being satisfied. These unmet needs provide the insight needed to deliver digital products that drive real value to NatWest’s customers.
Having truly understood the challenge, in the form of needs prioritised by an audience that have been through the process, Mubaloo hosted a five-day sprint with subject matter experts from the bank to explore, refine and test solutions that would meet the key challenges that customers were facing.
When we presented this prototype to the users, the response was overwhelmingly positive, receiving a +80 NPS score. Way above average for commercial lending.
By understanding that the challenge was broader than just a mortgage and focusing on the overarching journey of growing the business through the acquisition of a commercial property, we were able to define a product that supports customers in achieving their overall goal. This user-validation throughout discovery and prototype development, enables us to provide confidence that we are building a viable product that meets customers needs, de-risking investment in digital products for our clients.
We’ve set the wheels in motion for NatWest to achieve its vision with a product that is unique to the market, genuinely evidence-based and user-centric, delivering for both the bank and its customers.
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