Scotiabank Industry Project
Scotiabank Wealth Management Industry Project
An extension of Scotiabank’s current IOS app; securely allowing clients and advisors the digital ability to fill out, sign, and send financial documents, and message each other each step of the way.
Project Type& Date
Hackathon CollaborationSeptember 2022
My
Role
Researcher, Strategy Development, Stakeholder Presentation Coordinator
ToolsUsed
Figma, Canva,Google Docs,Google Slides
Platform
iOS App Extension
Timeline
24 Hrs
Team
5 People
Problem Space
Scotiabank offers a variety of wealth management services and has highly skilled advisors to assist their clients. As clients run their busy lives, they’re looking for frictionless and convenient engagement with their advisors online.
Team Approach
We initiated the project by conducting an in-depth analysis of Scotiabank’s wealth management platform, focusing on challenges related to client interactions. Based on our assumptions, we created a ‘How might we?’ question: How might we improve interactions between wealth management advisors and clients in a shared digital space?
How Might We...?
Based on our assumptions, we created a ‘How might we?’ question:
How might we improve interactions between wealth management advisors and clients in a shared digital space?
Secondary Research
Challenge #1
A new generation of investors thinks differently about advice; bringing new attitudes and expectations to the Wealth Management industry. Their expectation has shaped interactions with non-financial digital firms, (e.g., Google, Facebook, Amazon) as well as smartphones and other digital devices.
Challenge #2
The new generation of investors expects to access advice anywhere and at any time, through multiple channels and devices.
Primary Research
Financial Advisor Interview
After reviewing the secondary research findings, our team sought to understand how the banking sector is addressing this issue in practice. Fortunately, a team member connected us with a Financial Advisor willing to participate in an interview on short notice. During the discussion, the advisor highlighted significant challenges related to managing paper-based documentation, providing valuable firsthand insights into inefficiencies within current workflows.
What does Scotiabank currently offer?
We analyzed Scotiabank’s document library and found it to be quite comprehensive, having everything a user might require. However, there are forms that still need to be physically printed, filled out, and mailed; a great inefficiency in today’s day and age.
Expanded: How Might We...
Based on our secondary research and the interview data gathered, we focused our solution on young working professionals and expanded the existing how might we…
How might we help busy young working professionals connect with advisors in a shared digital space so that the process is quick and simple?
Proto Persona
Bella the Busy Bee
Lead Program Coordinator, 36, Vancouver
- Mom with 2 small kids
- Busy, 9-5 set working schedule
- Uses multiple banking services
- Finds it frustrating that in this day and age, physical banking forms still exist
- Wants to conduct all banking digitally and avoid physically entering a branch
“I’m a full-time mom with a full-time career… I don’t have time to go to the bank just to fill out and sign forms. There’s technology for this! Figure it out!”
Task Flow
From Wireframes to Mockups
Next Steps
During the brainstorming session, our group had a couple more ideas that couldn’t make it to the prototype. We believe that these additions may be low effort and high impact:
- Online scheduling system for both virtual and in-person appointments
- Accessibility for more complicated documents
- Advanced features like scanning, image-to-text, and automatic reminders for documentation
Key Learnings
- Better planning leads to quick execution
- Both primary and secondary research is the key to a successful design
- Open and respectful communication makes working fun – even until midnight!
Thank you for taking the time to read this case study!
Thank you for taking the time to review this case study. If you have any questions, feedback, or would like to discuss further, feel free to reach out via email at jveintrop@gmail.com or connect with me on LinkedIn.
I look forward to hearing from you!
Thank you for taking the time to review this case study. If you have any questions or feedback, reach out via email at jveintrop@gmail.com or connect with me on LinkedIn.
I look forward to hearing from you!