For the first week, I started preparation on the banking app project by conducting preliminary research on competition in existing banks, and the target audience of 16-25 year olds.
I began by visiting the bank buildings in the area around the university, those being HSBC, Santander and Halifax. In these buildings, there were no customers of the target group. I then conducted interviews in person and online with students of this age demographic. The main concerns for these customers were mostly security and accessibility. They also preferred to use online services than to go to the bank to make transfers, also indicating a desire for accessibility and ease of use. This corroborates with the earlier research I conducted in the bank buildings, highlighting that a reason this demographic was not present was their preference for online services. A feature of another banking app which an interviewee mentioned, which interested me was the ability to view stock prices.
I also tried navigating some Ulster bank cash points, which I found to be simple and easy, although the use of side buttons feels like a somewhat dated experience, which could have been improved by more modern technology such as a touch screen.
I checked some online reviews for existing banks, for example HSBC, which were generally negative, stating that transactions were difficult to navigate, and the app does not facilitate contact with the bank, while calls also take a long time to connect, possibly as a result of the lack of in app communication, both these factors lead to customer dissatisfaction due to the difficulty to make contact with the bank.
Danske bank had overall positive reviews, and were especially praised for their customer service and financial advice, but their UI was criticised, as customers feel it does not draw them to the important and most used features of the app, being the transfer of money.
One modern bank which I researched was Starling Bank, it had very few negative reviews, and was noteworthy for its ability to create subdivisions of the account and easily add and remove money in these, which aids in customers’ budgeting.
I also researched the history of banking to inform the brand of my bank. I found that the first bank of Europe was run by the knights Templar to access money while on pilgrimages to the Middle East. This gave me an idea for the name of my bank, and also fits with the values I have chosen based on customer research, efficiency and security.
Possible names