Visualization

Challenge & Selection

We as a Digital banking organization are developing many new products to cater to need to unbanked  population in India.This sector is underserviced with lack of Banking facilities. Village population in India  have a problem of cash withdrawal in need of hour. They have dependency on Bank branches which are  limited. We wanted to identify the challenges and solve this problem in a cost effective manner.

We have a team of diversified individuals from sales, strategy,research,compliance and marketing. Tool  we picked up was visualization to help us get to all possible challenges that are there.

Application

We started with bringing the team in one room gave them sheet of paper and asked them to write as  many challenges they know/come across while working or as a customer while going out to with draw  cash. We asked them to also write location/distance of their favorite place for this particular cash  withdrawal activity.

We then started putting up views that have come up on white board dividing them into challenges  faced/what delights them. There were many diversified views but correlated to each other. Some were  customer centric others also include cost of operations for banks for maximizing reach. We started  segregating it into different buckets which included customer centric challenges/Operational challenges.  There were some challenges which came up which might be of less use today but noted those as well  like challenge of power/Internet connectivity of broadband in Banks etc.

Insights & Approach

Few challenges stated by most of them were branch timing, cash dry up in ATMs, Distance of these  Banks/ATMs & a major challenge of Rural population uncomfortable in using ATM and Bank forms for  withdrawal. Also small players working on cash withdrawal solution on government security number.

Insight that came out was Customer does not want to wait for cash withdrawal at bank or branch he  does it out of his necessity and hence any act that delights him is a advantage

Customer does not want to travel large distances to banks and do transaction. In current scenario it is 5- 10 km in most of rural india.

Customer want to be sure that if he reaches a place he gets money and does not have to return empty  handed due to technical glitches.

Since literacy rate is low in India customer is not comfortable in filling form or use ATM where he has to  choose multiple options to withdraw cash.

Visualization helped us put different thoughts and probable challenges/Opportunities in front of all of us  thus helping us think through all possible What is.I would be using this tool every time from now on.


Visualization Challenge & Selection We as a Digital banking organization are developing many new products to cater to need to unbanked population in India . This sector is underserviced with lack of Banking facilities . Village population in India have a problem of cash withdrawal in need of hour . They have dependency on Bank branches which are limited . We wanted to identify the challenges and solve this problem in a cost effective manner . We have a team of diversified individuals from sales , strategy , research , compliance and marketing . Tool we picked up was visualization to help us get to all possible challenges that are there . Application We started with bringing the team in one room gave them sheet of paper and asked them to write as many challenges they know / come across while working or as a customer while going out to with draw cash . We asked them to also write location / distance of their favorite place for this particular cash withdrawal activity . We then started putting up views that have come up on white board dividing them into challenges faced / what delights them . There were many diversified views but correlated to each other . Some were customer centric others also include cost of operations for banks for maximizing reach . We started segregating it into different buckets which included customer centric challenges / Operational challenges . There were some challenges which came up which might be of less use today but noted those as well like challenge of power / Internet connectivity of broadband in Banks etc . Insights & Approach Few challenges stated by most of them were branch timing , cash dry up in ATMs , Distance of these Banks / ATMs & a major challenge of Rural population uncomfortable in using ATM and Bank forms for withdrawal . Also small players working on cash withdrawal solution on government security number . Insight that came out was Customer does not want to wait for cash withdrawal at bank or branch he does it out of his necessity and hence any act that delights him is a advantage Customer does not want to travel large distances to banks and do transaction . In current scenario it is 5- 10 km in most of rural india . Customer want to be sure that if he reaches a place he gets money and does not have to return empty handed due to technical glitches . Since literacy rate is low in India customer is not comfortable in filling form or use ATM where he has to choose multiple options to withdraw cash . Visualization helped us put different thoughts and probable challenges / Opportunities in front of all of us thus helping us think through all possible What is . I would be using this tool every time from now on .