Together with the bank we prepared our minds to create innovation. The main items that we discovered – getting the right mindset, broadening horizons, and customer empathy.
We defined a research goal and questions, then we went deeper into the knowledge field of savings, existing solutions and even made some test interviews with our colleagues to get to know the topic better. These things helped to create a question list for the next steps.
After we conducted 26 qualitative interviews with the target audience. The goal was to know their savings habits and circumstances that influence savings ability.
Some of the interviews were remote, but most of them we had in Leading Latvian bank and Chili Labs offices.
Thematic analysis was a great helper for deeper understanding the information that we got during the interview sessions. Summarizing, we had 6 theme groups that consisted of 57 subgroups.
Themes display only findings that we have gathered, but the main objective in the research is insights. So we walked through all the findings again and defined 26 valuable insights. These insights represent a problem, needs, and behavior by describing context.
Thematic analysis and insights
A good story creates a cause of empathy, it ignites people's will to help solve problems of others'. It's a reason why we defined 4 archetypes, aka personas, based on research data.
As a result, Chili Labs team presented personas to stakeholders from the bank. This was a presentation of personas' stories, their savings and spending habits prepared stakeholders' minds to be empathetic and gave a growth mindset for the ideation session.