Many credit unions have a clear data strategy but the current climate at the credit union is one of data effort fatigue leading to a lack of enterprise motivation and resulting in the stalling and possible stagnation of current enterprise data efforts.
To help revive the enterprise data efforts, THRIVE delivers a Design Thinking Education Sessions to translate the data strategy into a member-centric tangible use case that will excite the enterprise as well as provide a framework for organizational talent to increase their critical thinking and execution on member-centric data use cases.
Key Education Deliverables:
Deliver a framework for organizational talent to leverage data to solve member problems, quickly and effectively in cross-functional teams.
Create quick wins that energize talent to stay motivated in the pursuit of improved member experience.
What is Design Thinking?
Design thinking is a successful problem-solving methodology that can clarify the member's problem and identify the data needed to solve it.
To maximize success, the sprint portion of Agile methodology is leveraged. Agile is a type of project management process that is commonly found in software development. It develops solutions in a cross-functional, collaborative style that is iterative and end-user-focused. Prototyping and testing are accomplished using a sprint planning process. A sprint is a short (typically two weeks) period of time in which concentrated data-driven iterative development occurs.
Together, they create a robust framework that propels cross-functional teams to fail fast in a constructive manner that fuels creativity and innovation. The solutions developed in sprints result in higher productivity, faster ROI, less risk, and increased end-user satisfaction.
Credit Union Design Thinking in Practice
On the Friday after Thanksgiving, a large credit union experienced a significant check processing error that resulted in 2,400 checks not being processed. This led to bounced payments and other unintentional negative account activities.
The credit union leadership team applied sprint planning and design thinking to rectify the situation. Without using design thinking and sprint planning, this situation would have taken more than three weeks to solve.
With the use of design thinking and sprint planning, corrective actions began within twenty-four hours, and a resolution was in practice within forty-eight hours.
How the Education is Delivered
Phase 1: Member Friction identification
Work with the Leadership team to identify the member friction and prioritize by impact and feasibility.
Phase 2: Credit Union Education/ Acceleration/ Elevation
Through a series of 3 either online/in-person sessions we;
1) educate your credit union on the design thinking methodology,
2) coach the application of the methodology to accelerate the learning,
3) strengthen the capability for ongoing success to elevate data infusion, operational efficiency, and member satisfaction.
The average length of educational engagement is 30-45 days.
Big Data/Big Climb has been called a "must-read book for credit union management" by industry experts as a guide for those who are looking to improve their members' lives using data. This foundational primer on data transformation uses the metaphor of climbing Mt Kilimanjaro to provide both clarity and a framework on this subject.
We offer the only industry playbook on data transformation. This book will provide you and your credit union with the tools you need to reduce member friction, analyze actual competition, and identify disruption to improve your members' lives and gain a competitive advantage.
Education is most successful if it is delivered to all ways of learning. That is why we offer integrated educational artifacts, touch (book), sound (video), and visual (workbook & case study). Here is a sample of two artifacts.
This 5 min-video is representative of the micro-learning modules that help infuse concepts and strengthen capability.