Latitude Financial Services | Shaking up Personal Financial Management and Buy Now, Pay Later.

Role: Customer Experience Lead
Year completed: 2020

Problem

I worked within the customer experience team on 2 key projects.

Latitude Money

My initial engagement was for Latitude Money, researching and evaluating a new product offer for Personal Financial Management (PFM) tools in their native app servicing customers with credit cards and personal loans. We worked in 10-day design sprints to research and evaluate PFM features.

Latitude Pay

The following engagement was for Latitude Pay, where I led a cross-functional team to design the ‘Buy Now Pay Later’ (BNPL) product offer for big ticket purchases of $1,000-$3,000. We used human-centred design approaches to understand existing features against the small ticket experience.

Approach

Latitude Money
  • We began by researching the business strategy and existing data to understand the products and customer base and the intention for the future
  • We designed stakeholder workshops to map digital journeys and gain visibility of existing products to understand where and how possible PFM features might play
  • We ran qualitative customer interviews to discover customer needs and habits
  • We ran a competitor analysis to assess in-market offers
  • We outsourced quantitative research to access a more substantive research base
  • We worked with a white label startup to align our journeys, research insights and value propositions to assess an integrated digital offer to launch an MVP
Latitude Pay
  • We worked with key stakeholders, merchants, and customers to design the application process for customers applying for a BNPL purchase, leveraging existing data and small ticket features
  • The customer mindsets were created through mapping motivations and behaviours of research participants and validated through quantitative research
  • We designed the digital journey around personas and created prototypes using a build, test, learn approach

Outcome

Latitude Money
  • Validated customer segments, mindsets and emerging behaviours
  • Options for targeting customer cohorts
  • An insights report including opportunity areas for development and partnership recommendations
Latitude Pay
  • Prototypes for development to the delivery team
  • Strategic reports, journey maps, and recommendations for implementation for development, UI and UX teams to deliver the solution.

Latitude Financial Services (shortened to Latitude Financial or Latitude) is an Australian financial services company with headquarters in Melbourne, Victoria, also doing business in New Zealand under the name Gem Finance. Latitude’s core business is in consumer finance through a variety of services including unsecured personal loans, credit cards, car loans, personal insurance and interest free retail finance.[1] As of 2018 it had around a 6% share of Australia’s personal lending market making it biggest non-bank lender of consumer credit in Australia.

latitudefinancial.com.au