Challenge & Selection

The challenge was to generate ideas for markedly improve the customer journey for availing a  business loan thereby empowering the customer, fulfilling his/her aspirations and providing delight.  To elaborate a little:

Current scenario (As is) on a high level:

  Customer has to visit loan centre/Branch to apply for loan.

  Fill up application form and know about the necessary documents required, loan pricing, etc

  There’s a field inspection done and report submitted to underwriting

  Underwriters do their job and finally the case is approved/declined

  Then again there is a series of document execution for the customer to avail the loan  disbursement

  This process takes around 7-10 days to get completed

The challenge is to understand every bit of the lengthy process and ideate on how things could be  simplified for the customers

Tool Used: Mind mapping. Mind mapping was used to visually map the loan process and challenges  faced by the customer. Essentially try to map the customers’ minds both the end customer and the  internal customers as well.

Application:

We set up a workshop for 2 days for an entire group of diverse people from different departments  (stakeholders) starting from sales, underwriting, risk, legal, compliance, collections and our team of  product development. More or less 25 people participation was there. 5 teams were formed of these  people. We used the empty cafeteria and put up boards to enable the workshop

We already had huge data from existing business. All had fair idea of the entire process but the missing  link was to bring all together on customer empathy. Which was why the mind mapping exercise.

We used lot of sticky notes for the same. We also put up printed samples of application form, lists of  systems used, agreement documents, etc

At every point of the loan process all were asked to point out the hindrances, non-essential items for  customers to avail loan. Also they were asked to note the good stuff/essential item that is there in the  loan process. Also some pre research on ethnographic were put up at a side. We also set up poster for  Stat board having important statistics from existing business. Members used sticky notes to write their  points, one on each sticky note.

After an hour we asked the members to stick the sticky note on the customer goal boards. One of us  helped organize the same. Example of customer goal: loan application. Now some ideas for application  came to be as online application. All ideas written on sticky notes were grouped on different customer  goal boards.

Next step is to draw insights form the idea clusters/customer goal boards. We had deliberated for four  hours on the insights statements and found common ground amongst the whole group. The core idea  as it came out was to look at everything from the customers’ lens.

To point out more on the insights using design thinking vis-à-vis erstwhile methods: For example risk  team in traditional methods would deny any disruption in existing process or ask questions that were

more academic-not adding much value to the customer. In this exercise all stakeholders were present  at the same place at the same time. So any questions arising from any team would get answered then  and there. The very success of the method was due to the fact that all questions were getting  answered from customers’ point of view and that was most important. At the end of the day any  product would be successful if that is liked by the customer. This method does that very effectively  and quickly-- every idea was moving around a central theme—what did the customer want..

As a lead product owner I found that the method created some sort of chaos in dealing with several  ideas and debates around them. Having said that, it is also pertinent to note that these small debates  provided the platform for all to come to a common understanding of the customers. At the end of the  day we were a happy group of people trying to solve for the customer thereby paving our way to  generate more business in a lot quicker period of time.

At each point of customer goal, we had lot many ideas to discuss and had substantial food for thought  for the next day’s workshop on What if? The solutioning….


Challenge & Selection The challenge was to generate ideas for markedly improve the customer journey for availing a business loan thereby empowering the customer , fulfilling his / her aspirations and providing delight . To elaborate a little : Current scenario ( As is ) on a high level :  Customer has to visit loan centre / Branch to apply for loan .  Fill up application form and know about the necessary documents required , loan pricing , etc  There ’s a field inspection done and report submitted to underwriting  Underwriters do their job and finally the case is approved / declined  Then again there is a series of document execution for the customer to avail the loan disbursement  This process takes around 7 - 10 days to get completed The challenge is to understand every bit of the lengthy process and ideate on how things could be simplified for the customers Tool Used : Mind mapping . Mind mapping was used to visually map the loan process and challenges faced by the customer . Essentially try to map the customers ’ minds both the end customer and the internal customers as well . Application : We set up a workshop for 2 days for an entire group of diverse people from different departments ( stakeholders ) starting from sales , underwriting , risk , legal , compliance , collections and our team of product development . More or less 25 people participation was there . 5 teams were formed of these people . We used the empty cafeteria and put up boards to enable the workshop We already had huge data from existing business . All had fair idea of the entire process but the missing link was to bring all together on customer empathy . Which was why the mind mapping exercise . We used lot of sticky notes for the same . We also put up printed samples of application form , lists of systems used , agreement documents , etc At every point of the loan process all were asked to point out the hindrances , non - essential items for customers to avail loan . Also they were asked to note the good stuff / essential item that is there in the loan process . Also some pre research on ethnographic were put up at a side . We also set up poster for Stat board having important statistics from existing business . Members used sticky notes to write their points , one on each sticky note . After an hour we asked the members to stick the sticky note on the customer goal boards . One of us helped organize the same . Example of customer goal : loan application . Now some ideas for application came to be as online application . All ideas written on sticky notes were grouped on different customer goal boards . Next step is to draw insights form the idea clusters / customer goal boards . We had deliberated for four hours on the insights statements and found common ground amongst the whole group . The core idea as it came out was to look at everything from the customers ’ lens . To point out more on the insights using design thinking vis - à - vis erstwhile methods : For example risk team in traditional methods would deny any disruption in existing process or ask questions that were more academic - not adding much value to the customer . In this exercise all stakeholders were present at the same place at the same time . So any questions arising from any team would get answered then and there . The very success of the method was due to the fact that all questions were getting answered from customers ’ point of view and that was most important . At the end of the day any product would be successful if that is liked by the customer . This method does that very effectively and quickly-- every idea was moving around a central theme — what did the customer want .. As a lead product owner I found that the method created some sort of chaos in dealing with several ideas and debates around them . Having said that , it is also pertinent to note that these small debates provided the platform for all to come to a common understanding of the customers . At the end of the day we were a happy group of people trying to solve for the customer thereby paving our way to generate more business in a lot quicker period of time . At each point of customer goal , we had lot many ideas to discuss and had substantial food for thought for the next day ’s workshop on What if ? The solutioning … .