Banking Innovation Research

TRYING WEARABLE TECHNOLOGY ON FOR SIZE AT ONE OF CANADA'S LARGEST BANKS

innovation research bank fintech

Akendi helped a Canadian bank explore ideas in the wearable technology space and receive feedback from real users.

PROJECT

Innovation Research, Stakeholder Research, Concept Development, Focus Groups

INDUSTRY
FINANCE & INSURANCE Case study | PDF

Akendi helped a Canadian bank explore ideas in the wearable technology space and receive feedback from real users.

innovation research bank fintech
innovation research bank fintech
THE CHALLENGE

As one of the most innovative banks in Canada, this Canadian bank wished to explore the potential of wearable bank technology. In particular, the bank was interested in learning whether customers would find value in wearable solutions that would simplify customer interactions in several real world scenarios.

bank innovation research focus groups
bank fintech innovation research storyboards bank innovation research focus groups
OUR APPROACH

Akendi identified participants that matched the profile of potential technology wearers and invited them to focus group sessions in which we discussed usage scenarios for a new, wearable device. In addition to gathering information about the tasks these users would complete with the wearable in a regular day, we used carefully crafted storyboards and a product prototype to elicit feedback about participant feelings around the functionality of the device and its relevance to their lives.

The end user and stakeholder feedback derived from the project gave a clear understanding of the new market it was pursuing, and concrete data on how its new idea would be received by potential users. With this knowledge, this Canadian bank was able to make an informed decision before pursuing its new product idea.
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