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Digital health checks of

wealth portfolios

Commonwealth Bank
Jan 13 - Nov 14

Project

Digital health checks of portfolios

The challenge was to first help customers understand what makes a healthy wealth portfolio and then guide them for the right actions. We prototyped ten different health-check modules tested them with potential or existing customers. Using the end product, customers were able to assess, compare and evaluate whole or part of their portfolio without hiring an advisor.  
 

My Wealth is an easy to use online platform for self-directed investors released by Commonwealth Bank in 2012. It brings together banking basics and investment purchasing, with education, community forums and a detailed news section staffed by an internal editorial team. The goal of My Wealth was to better service the 3 million Australians who are already active in self-directed investing.

My Wealth team followed a lean startup methodology (build-measure-learn) and implemented the first release of the website in 9 months. The task here was to prepare the team for the Horizon 2 capabilities.

 

The inception phase 

Through a series of workshops (strategy sessions) with the three product owners, we defined customer problem statements, user stories and concept maps preliminary to design sprints. 

Concept maps for the next horizon
Concept maps for the next horizon
Early Sketches
Early Sketches

Zafer’s strategy sessions with various groups like Property ensured that we were able to scope solutions that were do-able in tight timeframes, but more importantly in a way that met our customer segment needs. The property section, for example, was vague and unclear as it was a new area for the Bank, and Zafer helped us to narrow down and clarify how we could develop workable solutions.

Zafer’s strategy sessions with various groups like Property ensured that we were able to scope solutions that were do-able in tight timeframes, but more importantly in a way that met our customer segment needs. The property section, for example, was vague and unclear as it was a new area for the Bank, and Zafer helped us to narrow down and clarify how we could develop workable solutions.

Keith Meyer, Manager Customer Experience, My Wealth

Portfolio health check

Portfolio Health Check is a section of My Wealth, that enables the customer to see the Health for their entire Portfolio. Each Health Check module is contained with the information customer needs to assess, compare and evaluate whole or part of their portfolio. The modules follow progressive learning and improving approach so that Health Checks become a frequently consulted area within the site. 

We created concepts for over 10 different portfolio health modules, prototyped all concepts and tested them with potential or existing customers of My Wealth. As part of our iterative and agile methodology, we prioritised some modules or combined features from different modules to end up with 5 modules to build at the end. 

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Early Wireframes of Shares Diversification Health Check 

We have created 5 major customer journeys driven by the research and ran several workshops with the bank's SMEs to validate and enhance these journeys. After these efforts customer journey mapping became the standard before starting any strategy roadmaps for digital initiatives.

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Final Wireframes and Visual Designs

Zafer has worked with our Agile coach as well as teams to ensure that a UX perspective is represented early on in the projects we do. He is an advocate for Continuous Improvement and supports our overall team in maintaining a lean and nimble infrastructure.

Keith Meyer, Manager Customer Experience, My Wealth

Key activities

  • Design Research

  • Concept & Usabilty Testing

  • Strategy Workshops

  • Concept Development & Iterations

  • Interaction Design

  • Prototype Development