DailyIQ

Designing a brand new small business insights tool for Australia's biggest bank

Designing a brand new small business insights tool for Australia's biggest bank

 

My role

 

My role

I was part of a x4 person design team, working with the Customer Experience Company in house at Commonwealth Bank of Australia (CBA) between February and August 2015. I led the visual design, and was involved heavily at all stages of the prioritisation, research and delivery phases, working alongside fellow researchers and UX designers.

 

Challenge

CBA is the largest bank in Australia, and had already launched version 1 of their data analytics product for small businesses – DailyIQ. To take the product to the next level, they asked us to work with their team to complete research to understand their customers needs, prioritise a set of features, design and be involved with delivering a solution to further establish themselves in the small business banking market. 

DailyIQ is a business insights tool designed to allow small businesses to understand their cash flow, customers and sales simply and easily from their online banking. It helps businesses to compare costs, profitability and card sales against their own industry average so they can make better decisions about how to run their store. Its first iteration was iPad only and won the 2015 Canstar Innovation Award.

The bank’s main goal was to engage decision makers with unique insights that enable action and enhance financial success.

 

Approach

This information is omitted from my portfolio to protect the CBA's IP.

Want to know more? Get in contact with me.

 

Design walkthrough

CBA already had an extensive brand language to work with, and also had the tricky addition to ensure its design consistently fit in two very different banking channels for small business customers. We landed on a design that did just that, though the visual design was further tweaked after I left the project in 2015, but left the overall hierarchy of information and IA intact.

The principles we worked with when designing Daily IQ where to make it:

Immediately obviousOne key message, clear hierarchy and "don’t make me think”

Uncover the unknown Info you can’t get anywhere else, something surprising and curious

ActionableHighlight anomalies, offer help and the ability to dig deeper

Onboarding

As a new additional to their internet banking platform, our user testing taught us that in order to be trusted and useful, the information had to be accurate.

Therefore, it was important to establish trust and safety with the product upfront with an accurate suggestion, based on the bank's current data on the customer, about how it could best compare itself to other suggested companies based on it's industry, location and revenue. 

Allowing customer to firstly see an accurate comparison made, but also giving them the power to adjust it as they see fit, in turn lead customers to feel more comfortable with it's recommendations. 

CBA_Visual_8

Dashboard

When customers first land on their insights dashboard, they're welcomed with a high level overview of their insights for the past month. 

They have the option of drilling down to see more detail on any 4 areas of their business to deliver more granular insights, but our testing showed these insights delivered the most important information to know first at a quick glance. 

CBA_Visual_7

Customer insights

Through our prioritisation and discovery phase with CBA businesses, customer insights proved to be one of the most valuable pieces of information to help focus their marketing efforts and grow. 

We broke each insight down by:

  • A header, phrased as a question a customer would ask
  • An "actionable insight" - a high level overview of what is happening, and indirectly suggesting how you could improve
  • Further detail in the form of a graph with a legend, to show further breakdown of information

This consistent design pattern to articulate information meant customers were able to get quick insights on their data, but also see the detail they needed at a quick glance.

CBA_Visual_1

Customer insights (continued)

This widget breakdown also worked for different types of insights, such as customer loyalty and comparison data. In this case, we opted to use a combination of a bar and line graph to sure all three comparisons together, without the graph being too hard to read quickly.

We also followed the pattern of using a larger bar to show current period, with a thinner graph to indicate it was in the past. 

In each case, our customer insights told us the most important timeframes customer cared about comparing; the last week, month and year so they could see how the data changed over different periods of time.

CBA_Visual_2

Cashflow projections and comparisons

This widget breakdown also worked for different types of insights, such as understanding a businesses cash balance and overall cashflow. In this case, we opted to use a combination of a bar and line graph to sure all three comparisons together, without the graph being too hard to read quickly.

We also followed the pattern of using a larger bar to show current period, with a thinner graph to indicate it was in the past, and simplify the graph further.

In each case, our customer insights told us the most important timeframes customer cared about comparing;  the last week, month and year so they could see how the data changed over different periods of time.

 

CBA_Visual_3

Understand busy times and compare them

For users that had multiple stores, we discovered that knowing how each was performing was vastly important to help business owners understand which businesses were performing well, and at what times. 

We worked on a heatmap style visualisation of this to ensure customers got an accurate picture of their businesses whole day over the period of a week at quick glance, so they could go back to running their business with their new informed data. 

 

CBA_Visual_11

Making accurate cost comparisons to peers

Cost breakdowns, based on business spending data was something also pretty difficult to visualise elegantly, especially with so many categories. 

We decided to limit the number of categories to a pre-selected choice of 6, and organise them as stacked bar graphs so users could easily visualise the change in time. User testing showed that customer could easily see that certain categories were getting larger or smaller, and thus able to make decisions about where to cut costs.

 

CBA_Visual_5

Running the business more effectively

One of the most important parts of running a business is ensuring that when customers sell goods, they get paid quickly. We came up with the idea of illustrating a "cash gap", that basically showed the average time it took users to get paid based on accounting data, and the impact it actually had on their business. 

We placed this data alongside comparison data for similar businesses of their own, in order to understand how other businesses are managing their cashflow at a glance with similar horizontal bars and gaps to show different stages of the production process. 

 

CBA_Visual_6

Understanding how payment term changes could help 

As part of a business understanding how to improve their cashflow, we devised a tool to allow them to visualise how adjusting their terms of trade with suppliers might affect this. By providing insights using their data, along with the ability for users to make adjustments based on potential tweaks, they can easily visualise the effect using a stacked bar graph to indicate the range of changes. 

We found using a stacked bar graph here in grey allowed users to quickly understand the potential range, rather than being provided an exact amount.

CBA_Visual_10

 

Results

Daily IQ was launched in late 2016 to all business banking customers and received overwhelmingly positive feedback. 

It’s currently being used by almost a million people to help improve their businesses, and has been approved for an extra funding to continue research and development, based on the original research completed by us, as well as continued insights they received from the beta testing stage and launch.

CBA are currently using Daily IQ to promote its business banking capabilities in billboards, TV, radio and print media, and currently one of the flagship offerings for business banking capability at CBA.

James Taylor - Product Manager and Designer in San Francisco, previously Sydney.