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Digital Banking

Shaping the future of digital banking in Latin America.

Finance

Growth Strategies

A rapidly growing digital bank sought to consolidate its presence and expand its customer base in Latin America. To achieve this, the bank needed to design a future strategy that would position it as the primary financial institution in a highly competitive market segment. The challenge was to address both the functional needs of customers—such as availability, speed, and usability—while also building a strong emotional connection to foster trust and loyalty.

Through deep exploration of customer behaviors and preferences, several key drivers of trust and engagement were identified. The team discovered that addressing clients' functional expectations around service reliability, speed, and ease of use directly influenced their emotional connection to the bank. Additionally, understanding the 'Jobs to be Done' in financial decision-making unveiled opportunities for designing products that not only met immediate needs but also built long-term loyalty.

To uncover these insights, we used a combination of ethnographic techniques, including in-depth interviews, visual diaries, and contextual observations. This allowed us to deeply understand the preferences, behaviors, and needs of different customer segments.

By mapping out the customer journey and identifying pain points and aspirations, we co-created a future strategy that aligned with the bank’s ambitions for growth.

The project delivered actionable strategic guidelines for designing and launching a new savings account in Latin America. The result was a product that is now recognized as one of the most attractive and competitive savings accounts in the market. This success has laid the foundation for the digital bank to strengthen its position as a leader in Latin America, driving growth and customer loyalty.

Ethnographic research uncovered key user needs, guiding the creation of a customer-centric savings account.