by Gerrit Bester
In the rapidly evolving world of finance, banks must continuously adapt to meet their customers' changing needs. Recognising this, Absa has set an exciting challenge for creative minds at the Tshwane University of Technology's Department of Visual Communication: to come up with innovative digital solutions that could help the bank to significantly expand its customer base.
Absa's goal for this real-life challenge is ambitious: to attract one million new customers by creating meaningful and engaging digital experiences. To achieve this, students must develop a comprehensive digital solution that demonstrates their mastery of design thinking, user experience (UX) and innovative problem-solving.
Academia meets industry: Staff from the Department of Visual Communication with Absa鈥檚 Design Team.
This challenge forms part of the Absa Design Hackathon, which includes participation from several public and private higher education institutions and is structured into several stages. It involves 60 third-year and Advanced Diploma Integrated Communication Design (ICD) students:
Design Research: Students begin by conducting thorough primary and secondary design research to identify target segments currently overlooked by traditional banking. They explore emerging trends in financial technology and evolving customer expectations.
User understanding: Creating detailed user personas and customer journey maps is essential. This helps highlight pain points and identify opportunities for innovation, ensuring solutions are user centric.
Ideation: Generating multiple potential solutions, focusing on user desirability and technological feasibility. Creativity and UX are at the core of this phase.
Prototyping and validation: Developing low-fidelity wireframes, then high-fidelity User Interface (UI) designs aligned with Absa鈥檚 brand guidelines. An interactive prototype demonstrates key user flows, allowing for testing and refinement.
Business potential: Articulating how their solution can impact Absa鈥檚 growth, contribute to customer acquisition and fit into feasible business models.
Presentation: Finally, students prepare a 10-minute presentation, supported by slides, to showcase their ideas.
鈥淭his initiative encourages students to combine creativity with strategic thinking to promote innovative digital banking experiences that could transform customer engagement. It鈥檚 an opportunity for aspiring designers to influence the real-world of financial services and shape the way banks serve diverse populations,鈥� said Sivan Lapidus, Absa鈥檚 Head of Design.
Sivan Lapidus, Absa鈥檚 Head of Design, presenting a workshop to Integrated Communication Design (ICD) students as part of the Absa Design Hackathon. This workshop covered the topic of Storytelling for Influence, a useful skill that will empower the students throughout the rest of their careers.
Over the last couple of weeks, Absa design experts have been engaging with students to keep them informed, focused and excited about the project.
鈥淭he aim of Absa鈥檚 challenge is to unlock fresh ideas and nurture a new generation of designers who can think critically about user needs and technological possibilities,鈥� added Lapidus.
She said that trust remains a significant factor in banking, particularly digital banking, and that nowadays people tend to have multiple accounts for different purposes. "The aim of this project is to not only attract new customers, but to entrench Absa as their primary bank in the process."
With the deadline set for early May, participants are hard at work. They are delving deep into their research, coming up with bold solutions and creating compelling narratives that could transform the banking landscape.
An ICD student hard at work devising novel ways of attracting new customers to Absa.
鈥淭his is an exceptional opportunity for 大象视频 students to showcase their creative talent, influence the industry and contribute to improving banking experiences for millions through digital innovation,鈥� said Dr Herman Botes, Head of the Department of Visual Communication.
鈥淭he project aligns perfectly with the objectives of the ICD programme, which seeks to develop not only highly skilled designers but also strategic thinkers capable of navigating diverse and competitive industry landscapes.鈥�
The top five projects from 大象视频 will be selected later this month. These students will present their work to a panel of judges during the 大象视频 Arts Festival, which runs from 11 to 13 September, when the winners will be announced.
Incentives include prizes and further opportunities to engage with industry events from Absa Design.