Customer Centricity: A Co-Creation Platform for bank99

01/08/2022

Sommersemester 2022 / Bank99

EXECUTIVE SUMMARY

bank99 is a newly founded credit institution that has been active on the Austrian market since April 2020. It has the vision to be the most-human digital bank, thereby expressing the desire to involve customers increasingly in the creation process of new offerings.

Goal

The aim of the project was to find a suitable co-creation method that enables bank99 to address their target groups in a systematic way and to further integrate their customers into the product development process, as well as to serve as a reality check and quality insurance. The overarching goal was to come up with a comprehensive analysis followed by a business case tailored to bank99’s target customers and organizational capacities.

Methodology

Through an intensive literature review the term co-creation was defined, best-practice examples from other companies in the financial sector were analyzed and crucial aspects for the chosen co-creation method were identified. In parallel a survey among bank99 customers were conducted and proved co-creation to be feasible. Furthermore, interviews with leading researchers in the field, an MBB consultant with experience in co-creation and internal staff were executed in order to gain deeper insights into current market trends on the one hand and to address the needs of bank99 on the other. A SWOT analysis and comparison of costs and benefits concluded the business case.

Results

As a result of this project, bank99 was equipped with thorough analysis of possible co-creation methods, as well as with a deep dive into the most fitting one for their goals, namely a co-creation platform. Thereby, crucial aspects of such a platform were investigated and suggestions tailored to bank99 were provided. This includes aspects such as moderation, reward systems, possible outcomes and cost estimations. The final product is a business case for co-creation platform for bank99.

Cooperation Partner

  • Bank99
    Praterstraße 31, 1020 Wien
    Austria
    bank99.at

Contact Person

  • Camilla Reinhardt
    camilla.reinhardt@bank99.at

  • Martina Pietsch
    martina.pietsch@bank99.at

Student Team

  • Alexandra Popescu

  • Felix Koczan

  • Jan Ritter

  • Matthias Meyer

  • Tamás Fenyvesi

  • Tizian Schenk

Project Manager

  • Tuong-Vi Sophie Quach, M.A.

  • Dipl.-Kauff. Tina Marie Monelyon