Blue Flower
Blue Flower
Blue Flower
Blue Flower

Case Study

Design Research at HomeEquity Bank

HomeEquity Bank (HEB) serves retired Canadians with pioneering approaches to building wealth and financial security. As HEB faces increased competition and rising interest rates, they asked for support to better understand their customers and competitive landscape.

HomeEquity Bank (HEB) serves retired Canadians with pioneering approaches to building wealth and financial security. As HEB faces increased competition and rising interest rates, they asked for support to better understand their customers and competitive landscape.

We partnered to support several key studies within the Voice of the Customer (VOC) program, led by Vanessa Rementilla, including studies on technological comfort in those aged 55+, opportunities to serve currently ineligible customers, and mortgage brokers decision-making.

For technological comfort, we ran a survey through Qualtrics with existing customers surrounding their current technology attitude and habits, and expectations for banks and HEB specifically. We analyzed the data through a variety of filters, including age and education. This confirmed what we’d found in our secondary research. Comfort with technology isn’t a generational or aging byproduct. It’s contextual and comes from a variety of life experiences, which most people, even those who are older, have now had. 98% of Canadians own cell phones and 95% use the internet. Those aged 55+ don’t have preformed habits different from everyone else’s and they aren’t biased against technology.

However, people do have different attitudes about technology. We found these attitudes, which we labelled Technology Forward, Technology Pragmatist, and Technology Sceptical were the largest drivers of technological behaviour. We built a perspective on how HEB could serve these three distinct audiences needs across the entire customer journey, including applications, document submission, funding, and monitoring.

Our study on technological comfort in those aged 55+ is just a piece of our support of HomeEquity Bank as we help them serve Canada’s aging population with empathy and innovative financial services.

"Boardroom Labs is an exceptional, trusted partner in our ongoing innovation journey. Andrew and his team bring exactly what we need to the table."

Vanessa Rementilla

Vice President, Customer Experience @ HomeEquityBank

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ASSESSMENT

Every billion dollar business starts with a conversation. Let’s have ours.

CONTACT US

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Copyright @2023 Boardroom Labs

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Contact

+1 (647) 323-9518

hello@boardroomlabs.com

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M6K 3G3

Copyright @2023 Boardroom Labs

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Contact
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M6K 3G3

Copyright @2023 Boardroom Labs