Interaction Concept: Transformative Transactions: Designing for New Banking Experiences

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1 Project work 3 MA Interaction Design, year 2 Umeå Institute of Design Fall semester Weeks Course 5ID082 Interaction Concept: Transformative Transactions: Designing for New Banking Experiences Introduction Educational Aims The aim of this project is for the students to gain experience with the process of designing a product or system where playfulness and ubiqutous computing are involved. Emphasis in this project is give to experience prototyping and systemic thinking as methods for exploring user experience on a conceptual level. The third major project in the Master Programme in Interaction Design at Umeå Institute of Design (uid) focuses on Interaction Concepts where interaction design is explored in three levels simultaneously: firstly, human-artifact-interaction level with the actual user interface in focus, secondly, socio-cultural level with focus on how and why people communicate through technology and services, and finally systemic level where an holistic view is focusing on the bigger picture and emergence of digital eco systems.

2 In this third semester project the concept of Ubiqutous Computing, coined by Mark Wiser at Xerox PARC in 1991, is very prominent. Ubiqutous Computing is a post-desktop model of human-computer interaction in which information processing has been thoroughly integrated into everyday objects and activities. In the course of ordinary activities, someone using ubiquitous computing engages many computational devices and systems simultaneously, and may not necessarily even be aware that they are doing so. This model is usually considered an advancement away from the desktop paradigm. This project is carried out in collaboration with an industrial partner, and emphasizes integration of hardware and software solutions in the final design of the product. Tutoring by professional designers and experts are given at frequent intervals throughout the project. Project theme: Transformative Transactions - Designing for New Banking Experiences It is possible for a bank be a mediator of experiences, individual and/or collective, which shares value for the people, companies and the society? Can a bank deliver an experience that is broader than what we understand banking to be today? In general, banking in today s world is an activity characterized as cold, distant and unapproachable. The bank sector is generally made by mythical brands, which present meaningful discourses but few relevant experiences. In this project you will explore if it is possible to establish a relation between a bank and its users not by money but through the true understanding of the life of each of their users. Is it possible to transform a bank into a big panel of life, where the user is able to visualize itself and then plan and manage each step of its life? For this project, we ask you to think about four dimensions of the banking experience: Transformation - This is the concept behind every communication at Itaú. We aim to inspire new behaviors in people, life and society. We are interested in being connected with the users from an early stage to every ritual of their lives, and contribute to the realization of dreams. - We want you to question what is the real value a bank is capable of delivering? Transparency - We want to promote transparency in the way users understand their financial life and their relation with people, companies and the society. We are interested in creating personalized and integrated channels which respond to the behaviors and the demands of each user. Thoughfulness - To not lose the focus on the end-user we would like you to consider the idea of thoughtfullness as you explore scenarios that relate to users real lives and real banking experiences. - Consider how ubiquitous computing can capture detailed meta-data about the user and their behaviors, and how this information might be used to create more personalized banking experiences. - Draw from the rich history of banking, the market, and alternative currencies to inspire new ideas of simple, and supportive banking experiences. Tangibility - Within this project you are tasked with considering non-screen based interactions and transactions. You are tasked with thinking about how tangible and screen interactions influence our perceptions and experiences of banking systems, especially with the increasing digitization of money. Explore how to integrate information and functionality more naturally and transparently with a focus on tangible interfaces and artifacts. Solely screen-based designs such as phone applications or web services are not acceptable outcomes for this project.

3 Cooperating industry partner: Project tutor: Ellen Kiss Innovation and UX Manager Itaú Unibanco Tara Mullaney Researcher & PhD Student Tara Mullaney is a scientist-turneddesigner that loves exploring the realm of emotions and experiences. Her doctoral research investigates healthcare experiences, with a focus on patient-technology interactions and how design can be implemented within care environments to improve patient wellbeing and quality of life during illness ellen.kiss@itau-unibanco.com.br Mobile: tara.mullaney@dh.umu.se skype: tara.mullaney

4 About Itaú Unibanco Itaú is the largest Latin American bank and one of the fifteen largest banks¹ on the planet, with approximately 100,000 employees and operations in 20 countries throughout the Americas, Asia and Europe. We are a universal bank with a range of services and products serving the most varied client profile both individuals and companies of all sizes, from major transnational groups to local microentrepreneurs. In Brazil, we have nearly 5,000 full-service branches and 28,000 ATMs. We are recognized for our governance practices and our management, which is focused on the generation of economic, social and environmental value. With shares trading on the São Paulo (BM&FBovespa), Buenos Aires and New York stock exchanges, our company has been a component of the Dow Jones Sustainability World Index portfolio for the past 12 years. For the past four years, Itaú has been a recipient of FT/IFC Sustainable Finance Awards: elected Sustainable Bank of the Year Emerging Markets in 2009 and 2010, Sustainable Bank of the Year in 2011 and, in 2012, Sustainable Bank of the Year Americas. Our strategy is shaped by our vision, which is: To be the leading bank in sustainable performance and customer satisfaction. For Itaú, sustainable performance means to create shared value for employees, customers, shareholders and society, to ensure the longevity of the business. Itaú s recurring net income reached $1.773 million (R$ million) in the second quarter of Our total assets amounted to $439.7 billion (R$ billion), an increase of 12.0% in relation to the same period of the previous year. For nearly a decade now, Itaú has been the most valuable brand name in Brazil, valued at over $11.8 billion (R$24 billion) (Interbrand, 2011). We seek to mitigate the impacts of our operations and therefore we take actions that stimulate the entire value chain and generate important transformations along our value chain. We do it by incorporating socio-environmental criteria in all our businesses lines: credit, investments and insurance. We support our customers so that they have a healthier and more sustainable financial life, through our products and services, and through financial literacy programs. Itaú s micro-credit operation fosters financial inclusion, entrepreneurship and local development in socially vulnerable communities. We invest in the development of the people that work with us. One of the organization s principal strategic themes is meritocracy, which aims to recognize and enhance the importance of our teams in a fair and transparent organizational climate. We aim to inspire and mobilize our stakeholders to change. In January 2012, we launched a publicity campaign inviting customers to opt for paperless, digital statements. Between January and March 2012, more than 600 thousand customers signed up for the Paperless Itaú campaign. Itaú s social and cultural investments came to more than $21.6 million (R$ 43.8 million) in The bank has been a pioneer in supporting art and culture since the creation of the Instituto Itaú Cultural in 1987, and Itaú currently owns one of Brazil s largest private art collections. About Itaú s brand: Transformation is the concept of every communication. We should inspire new behavior in people, live and society. It is the reason why we create the brand experience. Energy and Optimism encourage the thinking. All the communication should be provocative. Closer we write as we talk. Our tone of voice is informal and fluid. Simple and Objective we go straight to the point, our text is clear and comprehensive This is Itaú, the global Latin American bank.

5 Project Structure and Time Plan The project is divided in four phases: Week 45: Project Kickoff (Monday, Nov. 5th - Video Conference with Itaú) Week 46: Phase 1, Initial research and design brief writing Week 47-48: Phase 2, Ideation and initial concept development Week 49-50: Phase 3, Concept finalization Week 51-03: Phase 4, Design communication and documentation For detailed and updated schedule, see Deliverables WEEKLY 1 minute videos summarizing your progress and work that week, to be posted online at transformative-transactions.posterous.se. Due every Monday at 9.00 so they can be used for Monday tutoring sessions. PHASE 1 to be delivered individually via to Niklas, Tara and Ellen by Friday, Nov 16, at 13.00: - an individual design brief (4-8 pages A4 pdf, text/images) stating: your chosen design theme with references to sources of inspiration time plan chosen design methods expected deliverables your contact information (for Ellen and Tara) and blog address (if applicable) PHASE 2 to be delivered individually at the mid-presentation Thursday, November 29 (video conference with Itaú): - a presentation (15 minutes) of your research and concept ideation - both live and as pdf - initial concept development - an updated version of yoru personal brief PHASE 3 to be delivered individually at the finalized design presentation with Itaú (in person) on Thursday, December 13th: - a presentation (20 minute) where the finalized design concept is presented. PHASE 4 to be delivered individually on Tuesday, January 15th at 15.00, via to Niklas, Tara and Ellen so that Itaú will be able to provide feedback on your final work at the final presentation. - a process logbook (online or in pdf format) describing the design process in chronological order - a video (maximum 3 minutes in length) where the final design is communicated to a non-designer audience using visual storytelling. to be delivered individually at the final design presentation on Friday, January 18th (and video feedback session with Itaú). - a presentation (20 minutes) showing your final design - a physical experiential prototype of your design to be exhibited in the school - the deliverables stated in your brief - three pictures (1024 x 768 px) with caption and a 200 words abstract of your project for web publication on UID s website