Designing rewards for clients at Danske Bank
As a UX Designer at Danske Bank, I contributed to developing a loyalty program for Private Banking. The aim was to determine strategies to boost loyalty among the bank’s high-net-worth clientele.
At Danske Bank Private Banking, I was working on identifying how we could increase loyalty with the high-net customer segment in Private Banking.
Collaborating closely with a freelance UI designer, we began with extensive research, collected insights, and designed a feasible, viable and desirable concept and was rolled out to a select test group for further feedback.
The Private Banking segment, although lucrative, had historically been underserved in Denmark. Given its substantial revenue potential for the bank it of course became a focus for the management.
Our research revealed that customers had strong connections with two elements: their credit card and their financial advisor. They didn’t have a significant attachment to Danske Bank but often decided to follow their advisor when transitioning to a different bank or branch. At the same time, competitors were expanding their offerings within Denmark.
To be in the Private Banking segment, one must have investable assets ranging from 4 to 10 million SEK. Some customers may not even realize they fall into this category, making them open for offers from competitors. We also learned that individuals in this segment are well-versed in digital technologies and mostly did their banking activities online or via mobile devices.
Our goal was to craft a user-friendly experience that genuinely resonates with customers, enticing them to actively engage. Common for all, they anticipate personalized treatment and improved convenience. We wanted attain heightened customer satisfaction and improve customer loyalty by providing a service exclusively designed for Private Banking clients.
To begin with I created wireframes to help co-create and conceptualize the solution, plan functionality, plus identify potential issues early in the design process. Our goal for the visuals was to communicate an exclusive feel to customers by thoughtfully integrating captivating visuals and engaging content.
My journey with Danske Bank concluded before witnessing the project’s outcome.
Danske Bank Private Banking is a specialized financial service catering to high-net-worth individuals.
It offers personalized wealth management, investment advice, and financial planning. Clients benefit from tailored solutions to preserve and grow their wealth, as well as access to a dedicated team of experts who provide exclusive banking services.
