Banking in The New Normal
2020 has changed the way we do everything.
With the COVID-19 pandemic we need to find new ways to do routine situations. Restaurants are now take-out, movie theaters are in our living rooms, and gyms are outside. Banking needs to think about how to be more mobile, flexible, and efficient for our customers facing uncertainty in their finances, health, and social structures.
Main Goal
"As a prospective customer I want to open a BBVA USA account seamlessly so that I can begin moving money / utilize the account quickly."
Unique Challenges
People would rather not interact with others.
Face-to-face interaction is less desirable than it was prior to March 2020.
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Financial insecurity
Many people have lost jobs over the last 4 months. Paychecks may be more infrequent, money most likely needs to be liquid and not locked up in long term accounts.
Single product focused
Savings accounts may be desired, but not the most necessary tool from a users perspective at first. When trying to just get above water, it's hard to think about long term planning.
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Convinience
People may be looking for the simplest option for their needs. Digital banks seem quick and easy with many flexible features that speak to the current generation.