Design Thinking Reflection      Challenge and Selection    In my 6 years of service with the Bank, I was assigned to different units catering to different clients. When  I was first assigned to my current unit which is the Wholesale Finance Division – Contract to Sell, I had no  idea how CTS accounts (bulk) are sourced. Where they come from and how the Bank acquire them? At  first, it was hard to appreciate how the Bank earns from this and how each task contributes to the whole  picture, how it helps our team in reaching our goal. It’s hard to be motivated or perform a task if you’re  really not aware of the things around you. Here, I realize the importance of storytelling because it helps  the team in understanding the clients that they cater to as well as their duties and responsibilities and  how it contributes to the organization.    Application    Just like how my officers educated me with our product, I also apply storytelling with my colleagues  (newbie) because this is the appropriate tool in order to help them understand and appreciate the CTS  product. I tell them the story how the Bank acquires CTS Receivables from Developers. Through this, they  understand that Selling Developers often sell properties (house and lot / condo units) at pre-selling stage  where the construction of the projects has not started yet. Upon client’s purchase, the Down Payment /  Equity stage already starts where the client will pay 10%-20% of the Total Contract Price in 24-36 monthly  installments then the 80%-90% balance (lumpsum) will be due upon the end of the equity stage (this is  referred to as the CTS receivable). Before reaching the maturity stage of the CTS Balance, these  Developers sell their receivables to the Bank to help them finance the construction of their projects. The  Bank, in turn, will see this as an opportunity to have leads in conversion (where housing loan will be  offered to these clients to help them finance the lumpsum of their balance – 80%-90% of the Total  Contract Price).     Insights and Approach    Having told this story together with the process of acquiring and conversion, the team gains a better  understanding and appreciation of how each task contributes to the profitability of the Bank. As a result,  the team feels empowered to perform each task efficiently and effectively because they recognize the  impact of these in reaching the Bank’s goals and objectives.     Storytelling is a compelling tool because it makes everything relatable and simple. It allows the team to  have the same understanding of what’s the team is trying to accomplish. With this, the team can work  all together towards achieving their goal.

This course convinced me that knowing how to tell a story – a compelling one at that – is very important  and can be used anytime because it is a very helpful tool in presenting ideas, process, strategies etc.

