IXD 103: Creating a brand for a modern bank – Survey, User Research and Name Development

• Q: Does your current bank meet your needs in your day-to-day life?

A: Yes, my primary bank does but when shopping online and receiving payments through stores such as Depop I would like more security with these payments.

• Q: Do you feel secure with your bank when making transactions online?

A: Most of the time yes, but when receiving payments on Depop it can take the money a long time to go into my account.

• Q: Is your bank responsive to your needs/problems?

A: Yes, they have a very good helpline and in branch service but getting through to these services can take a bit of a wait.

• Q: Do you prefer online or in branch meetings when it comes to your account?

A: Due to my currenting housing location I am not close to any branches and the online services can sometimes not be up to scratch so that’s why I would consider changing banks.

• Q: How long have you been with your current bank?

A: I have been with my current bank for five years now.

• Q: Was your decision to bank with them influence by any other people or was it your personal choice?

A: Yes, influenced by parents but now I feel I am ready to make my own decision when it comes to changing banks.

• Q: Have you ever considered swapping if so, why?

A: Yes, I have as due to my side income I feel an online bank provider will be meeting my needs much more.

• Q: Do you have a local branch available to you for your in person needs?

A: No, I do not have a branch available to me in the local area, making in branch visits difficult to achieve.

• Q: Does your bank currently offer you a reward system or loyalty system?

A: Yes but I feel they could offer more that is aimed at their younger consumers such as online discounts or offers etc.

After a couple of in branch visits around Belfast I seen stats showing that online banks such as Monzo is most likely to be recommended by its customers, due to its online services and excellent customer service which is a system I could base my new bank on. Creating a more fluent experience for the younger consumers.

More established branches like Danske Bank provide the highest quality in person service according to the public and when on my trip in different branches it was clear to see the demographic for in person meetings was the 50 and over range, showing how the younger generation dont have time for these types of meetings.

I also decided to brainstorm some potential names for the bank, trying to get a name that would encapsulate the aims of the bank, quick and efficient online banking and that’s why I have decided on the name Cloud9.