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Helen West

PROJECT

Open banking innovation

ROLE

Experience consultant

DISCIPLINE

Product strategy & design

Exploring how open banking could create new value for customers and encourage data sharing, resulting in three validated propositions that secured funding for full product development.

Mobile on desk showing screen of finance app

01. PROJECT OVERVIEW

The challenge

Ahead of PSD2, Experian wanted to understand how open banking could create new value for customers and encourage data sharing. They needed validated propositions to present to the Executive Committee for approval of funding for further development.

My role

I led day-to-day discovery and concept development, working with a strategist and the wider team. This included reviewing previous research, stakeholder interviews, competitor analysis, concept generation and development and facilitation of a three-day prioritisation workshop.

The outcome

Three propositions across mortgages, budgeting and debt management were validated with customers and presented to the Executive Committee, securing funding for full product development.

02. FROM IDEAS TO VALIDATED PROPOSITIONS

Explore and understand

Reviewed previous research, analysed competitors and interviewed stakeholders to identify insights and opportunity areas.

Generate and prioritise

Created a concept matrix with over 50 ideas. In workshops we stress-tested and prioritised the ideas, reducing the list to 12 concepts.

Validate with customers

Tested 12 shortlisted concepts with a 300-person online community, using the findings to select three propositions in a workshop.

Develop propositions

Developed the three selected propositions further, testing usability and demand through interactive prototypes and targeted advertising.

03. SELECTED WORK

Concept prioritisation framework
Lean canvas for concept definition
Concept storyboard
Research findings
Concept review and prioritisation workshop
Concept development

Concept prioritisation framework
Lean canvas for concept definition
Concept storyboard
Research findings
Concept review and prioritisation workshop
Concept development

04. VALIDATED PROPOSITIONS

Computer monitor showing a mortgage comparison site and eligibility

HomeHappy

A personalised mortgage finder that uses open banking data to show suitable products, tailored rates and clear next steps.

Validation

Created a concept landing page with a sign-up option and used targeted advertising to drive traffic. Measured ad clicks and sign-ups to gauge interest.

Spend.ly

A budgeting tool that gives customers smart, regular insights to help them get to the next payday in the best shape possible.

Validation

Tested demand through a concept landing page and targeted advertising, tracking clients and sign-ups as indicators of interest.

Debt Free Days

A debt management tool designed to give users a clear, motivating view of their path to becoming debt-free, with personalised plans and updates.

Validation

Designed an interactive prototype and conducted moderated research sessions to explore whether participants understood the proposition and found it valuable.

05. THE OUTCOME

Three validated propositions secured funding for development

Research showed strong levels of interest and perceived value, giving Experian confidence to invest in full product development. The concepts addressed key customer needs across mortgages, budgeting and debt management, and provided a clear route to leveraging open banking data.

While the targeted ad campaigns did not generate a significant sample size within the time available, the early responses were positive and supported the findings from the online community and prototype testing.

Open banking innovation

Open banking innovation

Open banking innovation

ROLE

Experience consultant

DISCIPLINE

Product strategy & design