Flourishing Design In A Regulated Space: Creating Impactful Products In Banking

In Episode 15 of MING Labs’ podcast Lost In Transformation, we talk to Chooake Wongwattanasilpa, the Chief Design Officer of DBS in Singapore.

Tune into this episode for the full story on the role that design plays in DBS, propelling it to become the World’s Best Digital Bank, and how to construct metrics of performance:

4 Main Takeaways From This Episode

01 UX and Design create concrete clarity about business innovations, allowing business leaders to see the same thing. By making prototypes, designers make complex concepts that leaders are inspired by into a simple vision that their team can rally around. Design enables DBS to create for a decade ahead. One of the latest released: a simple, accessible robo-advisory service.

02 Design advocates for the perspective of the customer in shaping the product. Instead of unquestioning compliance to the opinion of the Big Boss, who is a sample of one, Design avoids building a product that nobody would use by going to the street and researching what customers really want.

03 Measure the impact of design with: Contextual five-star rating and the Voice of Customer (VOC) Dashboard. The VOC dashboard displays 4 types of feedback: Complaints, Inquiry, Service Request (which can become potential new products) and Sentiment. Business leaders can use the VOC dashboard to track performance down to the product level.

04 Hire optimistic Designers. Domain knowledge and technical skill can be trained, but a mindset of optimism is essential. While they may face challenging projects, these designers will persevere and influence their team positively. An optimistic mindset makes people passionate that things can be transformed, and that they can be better.

Interested in more stories from Lost In Transformation? Follow us on Apple Podcasts, Spotify, Google Podcasts or Buzzsprout to not miss our upcoming episodes.

Related Reading: Fighting Cultural Resistance: Moving From Brick&Mortar To Click&Mortar

With his experience at helm of digital innovation at StarHub and Lenovo, Rod Strother, shares how to overcome cultural resistance and transforming customer journeys across organizational silos to help businesses thrive. Read on for the episode highlights.

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Lost In Transformation hosts practitioners from the field of Digital Transformation and Corporate Innovation who share insights into the methodologies, mindsets and technologies shaping the landscape today, as well as their personal lessons learned.

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MING Labs

MING Labs

We are a leading digital business builder located in Munich, Berlin, Singapore, Shanghai, and Suzhou. For more information visit us at www.minglabs.com

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