Designing a Customer-Centred Client Service Model in the Banking Sector
Kuokkanen, Marianne (2021)
Kuokkanen, Marianne
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021120924853
https://urn.fi/URN:NBN:fi:amk-2021120924853
Tiivistelmä
Increasing competition, digitalisation, regulation changes and the changes in customers’ behaviour and expectations have driven financial organisations into a situation they have not experienced before. These rapid changes have started a new age of value creation where organisations need to either create value for customers or risk a decreasing business. This new era has forced financial organisations to transform their business models from provider-centric into customer-centric banking models. This thesis is aimed at exploring the needs of engaged customers within a Finnish banking system, and at designing a customer-centred client service model by using service design.
The theoretical part of this thesis discusses the customer-dominant logic of service, value formation, value-in-use, value creation spheres, co-creation, service design, and design thinking. The lean startup methodology is also considered within rapid service development. The main structure of the theoretical framework is based on the double diamond service design model, combined with Luchs, Swan and Griffin’s design thinking model. The primary approach of the development work was service design, and the research approach was based on qualitative research methods such as in-depth semi-structured interviews of customers and bank advisors. The client service model elements for the prototype were created in a co-creative ideation workshop with several stakeholders.
The first part of the development work explored the customers’ experiences about the holistic wealth advice meeting model. Based on the findings from the first phase, the work’s second phase focused on creating a customer-centred client service model for engaged customers in a bank. The outcome of the work provided the management with valuable information by increasing customer satisfaction and showcasing how a company can develop a valuable service in a customer-centred way. Based on the theoretical framework and the learnings results of the development work, the author created a simplified customer-centred process model that can be used in future development projects within the bank. The elements of the model can be applied to projects involving several stakeholders who may not be familiar with service design, where the challenge is solved using a fast and logical process. However, further research is needed to recognise how the model works in practice.
Keywords: co-creation, customer-centricity, service design, value formation
The theoretical part of this thesis discusses the customer-dominant logic of service, value formation, value-in-use, value creation spheres, co-creation, service design, and design thinking. The lean startup methodology is also considered within rapid service development. The main structure of the theoretical framework is based on the double diamond service design model, combined with Luchs, Swan and Griffin’s design thinking model. The primary approach of the development work was service design, and the research approach was based on qualitative research methods such as in-depth semi-structured interviews of customers and bank advisors. The client service model elements for the prototype were created in a co-creative ideation workshop with several stakeholders.
The first part of the development work explored the customers’ experiences about the holistic wealth advice meeting model. Based on the findings from the first phase, the work’s second phase focused on creating a customer-centred client service model for engaged customers in a bank. The outcome of the work provided the management with valuable information by increasing customer satisfaction and showcasing how a company can develop a valuable service in a customer-centred way. Based on the theoretical framework and the learnings results of the development work, the author created a simplified customer-centred process model that can be used in future development projects within the bank. The elements of the model can be applied to projects involving several stakeholders who may not be familiar with service design, where the challenge is solved using a fast and logical process. However, further research is needed to recognise how the model works in practice.
Keywords: co-creation, customer-centricity, service design, value formation