Link Assignment - Product Strategy and Roadmap Presentation

[Virtual Presenter] Star One Credit Union is dedicated to creating an exceptional user experience for its customers. An evaluation of their current mobile application has revealed it is not up to customer standards and is in need of a revamp. To accomplish this, it was determined a product strategy and roadmap should be established that focuses on crafting a user-friendly experience that is in line with the company vision. Adopting this approach will guarantee that Star One Credit Union can stay ahead of the competition by giving customers premier services..

[Audio] Star One Credit Union is committed to delivering the best mobile experience to its customers. By leveraging generative AI, our vision is to develop an app that is not only easy to use, but also highly efficient. With our mobile application, we aim to provide customers with the necessary tools to have streamlined account management and comprehensive financial services that are tailored to their needs. Ultimately, our goal is to help our customers improve their financial health and gain autonomy over their finances..

[Audio] We recognize the need for our customers to have convenient and straightforward access to our services through a mobile application. To make this possible, we are dedicated to completely revamping our current mobile application to suit our company vision. Our vision is to provide simplicity, personalization, seamlessness and control for our customers. We aim to create an all-in-one solution that is both simple to use and effective in helping our customers achieve their desired outcomes. Upon completion of our overhaul, customers are promised a smooth and enjoyable experience when using our mobile application..

[Audio] To bring Star One Credit Union's mobile application up to its desired level, focus should be placed on creating an intuitive and uncomplicated user experience without necessitating much training. The app should be designed to aid customers in making financial decisions quickly and accurately, with an easy-to-read interface and the capability to integrate with third-party apps. These features are in line with the company's vision of providing a user-friendly experience..

[Audio] Star One Credit Union customers now have access to mobile applications, however, the user experience is not quite satisfactory. Through our research, we have identified several key trends and requirements of our key audiences, millennials and consumers. It has been reported that 97% of millennials and 89% of consumers utilize mobile banking apps, and around 60% of their investments are being done through such apps. To provide a better service, we must prioritize simplicity, everyday banking, account management, security and control features, along with alerts. By bringing these alterations, we will be able to deliver a more user-friendly experience that is in line with our brand values..

Personas.

[Audio] Alex, a 28-year-old entrepreneur and tech startup founder from Sydney, Australia is the perfect customer to have in mind when considering the user experience of Star One Credit Union's mobile application. Alex is a bachelor's degree-holder in Computer Science and is highly tech-savvy, deeply involved in the tech ecosystem. His values include efficiency and streamlined processes. To relax, Alex enjoys staying updated on the latest tech trends, occasional gaming, and participating in local startup meetups. He seeks financial tools that help manage both his personal and business finances and values transparency in financial transactions. Alex's goals include scaling his business, building a robust financial portfolio, and achieving a work-life balance. Star One Credit Union's mobile application should be overhauled to create a user-friendly experience that takes into account Alex's needs and aligns with the company's vision..

[Audio] As a marketing manager from Sydney, Australia, I know the importance of having a reliable, user-friendly mobile application at my fingertips. Star One Credit Union's mobile app should provide that experience; a streamlined, intuitive platform that aligns with the company vision. As a tech-savvy person, I appreciate convenience and look to the app to help me with quick transactions and expense tracking. I'm also looking for personalized financial insights and budgeting tips to support me in achieving my goals - like saving for a future home, investing in personal development, and planning for occasional travel adventures. The app should take my lifestyle into account and provide a service that is tailored to my needs. A service that ultimately helps me manage my finances better for a better future..

[Audio] As a 45-year-old senior project manager in Sydney, Australia, Chris needs a financial app that is both straightforward and intuitive. He is a cautious spender with long-term financial planning goals, like building a comfortable retirement fund, saving for his children's education and maintaining a mortgage-free home. At Star One Credit Union, we understand Chris's needs and want to create a more user-friendly mobile application that meets his expectations and aligns with our company vision..

[Audio] An overhaul of the mobile application of Star One Credit Union is required to give users a more straightforward and user-friendly experience. Analysis of the usage of the mobile app among different age groups indicate that there is an essential need for a modern and easy-to-use financial instrument. Our clients demand specific digital resources for budgeting, expense management, and retirement planning. Focusing on the goals of Sophie, Alex, and Chris, who prioritize simplicity, transparency, and financial caution, we can comprehend their specific needs and wishes. It is important that the app caters to their individual requirements as well as to the needs of Sydney's local market and regional financial trends..

[Audio] At Star One Credit Union, we strive to ensure that our mobile application is on the cutting edge of banking technology, while also providing a positive user experience that is in line with our company vision. Reviews, support requests, interviews and feedback forums have revealed several areas that need improvement, including the user interface, budgeting tools, fund transfer process and security measures. Customers have found the user interface to be complex and hard to navigate, and have reported a lack of budgeting tools, which makes tracking expenses and managing finances difficult. Furthermore, the fund transfer process is slow and unreliable, causing customers to doubt the reliability of the app. Lastly, there is a notable lack of security checks and concerns over the safety of financial data. Our aim is to make improvements to the app which will meet the expectations of our customers..

[Audio] Star One Credit Union believes that its mobile application should offer a user-friendly experience in line with its company vision. To achieve this, the login screen must be improved so users can access the application using their Google or Apple IDs. The Homepage's navigation must also be updated to follow the latest trends and user expectations. Additionally, users should be given the ability to customise their views. With these changes in place, a modern and user-friendly experience that is consistent with the company's vision can be achieved..

Product Strategy.

[Audio] Star One Credit Union's mobile application is an important element of its overall vision. It has strong features such as robust budgeting tools, increased security, and real-time notifications. However, there are still feature gaps in comparison to competitors, customer service is slow in addressing queries, and there is a need for ongoing innovation. The app can progress through the introduction of new features and improvements, possible strategic partnerships, and its international market-reach. But the financial services app market is highly competitive which presents a major threat. To stay ahead, an overhaul of the app is essential to create a more user-friendly experience that is consistent with the company's vision..

[Audio] Star One Credit Union needs to improve their mobile application to give customers the best possible experience. Compared to Competitor A, their interface is user-friendly and offers a range of budgeting tools, but they do not offer advanced investment analytics and portfolio management capabilities. Competitor B stands out with their personalized financial planning features. To match them, or even exceed them, Star One needs to restructure their mobile application to create a user-friendly experience..

[Audio] Star One Credit Union's mobile application requires an upgrade to streamline its user interface and user experience. To improve user accessibility, mobile device sign-on authentication should be integrated for a simpler login. Additionally, budget creation and monitoring functions should be provided to allow users to customize their views. To ensure the company vision is realized, access to credit score data must also be made available..

Roadmap.

[Audio] Star One Credit Union is devoted to making our mobile application the most convenient experience possible. Our roadmap for the upcoming 12 months shows our intention to accomplish this. During the first quarter, we will launch the fundamental features of our app and then in the subsequent two quarters, we will concentrate on including investment insights to provide our members the highest quality experience..

[Audio] Star One Credit Union is looking to revamp their mobile application into a more user-friendly experience. To accomplish this, the process has been broken down into four key stages - discovery, designing a design system, agreeing on a tech stack, and approving a budget. After these steps are complete, the new app will be launched with essential features such as account linking, transaction tracking, budget tracking, expense categorisation, investment recommendations, and portfolio tracking and performance analysis. All of these elements are meant to ensure the mobile application remains in line with the company’s vision..

[Audio] We aim to make our mobile app more user-friendly and in line with our company vision. To monitor progress over the next 12 months, we have identified a range of key metrics to track, including user acquisition, user retention, customer satisfaction, financial performance, user engagement, technical performance, and market impact. We will monitor these metrics quarterly to ensure we are moving forward in the right direction..

Ongoing strategy.

[Audio] We understand that customers are looking for convenience and ease of use when it comes to managing their finances. To meet this need, Star One Credit Union is committed to improving our current mobile application. Our strategies to increase user acquisition include targeted marketing campaigns to reach specific audience segments through social media, email, and ads. Additionally, we will be forming partnerships and collaborations with other companies to expand our reach and marketing, as well as implementing referral programs to incentivise existing customers to spread the word..

[Audio] Star One Credit Union's mobile application requires a substantial overhaul in order to create a more effective and user-friendly experience. This should involve incorporating features such as personalised onboarding, regular updates and feedback loops, gamification elements, exclusive content for retained users, and community building initiatives. Furthermore, surveys and user research must be conducted to ensure that the application is continually customised to meet the changing needs of the users. Through this strategy, a mobile application that is more fitting to the company vision can be achieved..

[Audio] Star One Credit Union is devoted to engineering an application that will make administering and observing your funds simpler and more effective. Our new application will offer functionalities, for example, getting to your records with only a couple of snaps, following your ventures without any problem, and getting modified proposals for banking and venture alternatives. We trust that this ground-breaking and simple to-utilize application will empower you to take authority over your funds and upgrade your monetary success..

Thank you.