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How can we motivate an entire household to bank together?
business banking customer experience financial services consumer insights financial industry banking industry
$1,600
top 50%
133
submissions
DONE
9 months ago
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When it comes to banking, we often turn to our loved ones for trusted advice. "Who do you bank with?" "Where should I set up my first account?"

But over time, family dynamics change and individuals may splinter off in different directions - trusting their finances with a variety of banking or financial institutions. 

We want to figure out a way to encourage entire households to bank together. Households may look different from family to family - moms, dads, young children, older children, grandparents, etc.). Our goal is to make the entire household feel supported and confident banking as a unit. 

We want to hear your ideas! We want to understand what would encourage or incentivize all members of a household to bank together. What benefits, features, products, programs (and so on), would motivate a household to bank together?

Feel free to get creative! Don't limit yourself when coming up with a solution. We want to hear anything you think would realistically appeal to households.

Deliverables

Tell us your great idea for motivating an entire household to bank together. Specifically, answer the following: 

  1. What is your creative idea for motivating an entire household to bank together?
  2. Is your idea realistic? Is it something we could implement in the near future?
  3. What kind of features, benefits and/or incentives would your idea offer households who bank together?
  4. Would your idea include special features, products, applications, or programs?
    1. If yes, please describe in detail.
    2. If no, please explain how your idea would work to motivate household banking.
  5. What are potential drawbacks, problems, or obstacles that might prevent households from banking together?
  6. How will your idea address the obstacles making it easier for households to overcome barriers and bank together?

Winning solutions will be creative, clever, and realistic. We are looking for a way to motivate an entire household to bank together by offering them real benefits and exciting incentives. Please be sure to provide as much detail as possible when describing your household banking solution.

    Submissions will be graded on the following criteria:
  • 1-10 Scale
Reward Tiers
Top 10%
will share $1,000
Next 15%
will share $400
Next 25%
will share $200
Actual individual rewards will be based on the total number of eligible solutions.
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