The first experience a customer has with a new product is a relationship-defining moment. It is the perfect opportunity to pleasantly surprise the customer and set the tone for the future.
At State Farm Bank®, we are looking for ways to do just this - delight our customer when they first log into their account. We have found that if we start off on the right foot, our customers will be more engaged with our products and find greater benefit in our services.
The "pleasant surprise" could come in many different ways, from small enhancements to big and bold changes. Your task is to answer the question: What types of tools, features, and technologies will increase delight our customers and increase engagement?
To complete this challenge, submit answers to the following:
1) What tool or technology would increase customer engagement with a web or mobile application?
2) How do you expect customers to use this tool or technology?
3) Why would customers engage with it?
4) How would you introduce it when the customer first logs in?
Top submissions will be truly innovative ideas and stand out from what traditional banks are already doing.
Personalized services are a big area of interest. Think about notifications, account reviews, personalized tips, and budget/debt simulators that meet my individual needs. A few more areas to consider include:
- Bill payment: make it easy for me to pay all my bills
- Transparency: make it easy for me to see money available and move it around
- Manage my finances: budgeting, ways to save for certain events, progress towards goals
Credit Card Accounts:
- Why do you use the credit cards you do? How can we increase customer engagement in this area outside of monetary incentives/rewards?
- Understanding the motivation or the factors that cause people to gravitate to specific cards
|Top 10% share $1,000||Next 15% share $400||Next 25% share $200|
|$125.00||Sam Alex Montclair State University|
|$125.00||Siranjeevi D National Institute of Technology Trichy|
|$125.00||Miles White University of South Florida|
|$125.00||Roshan Adhikari Webster University|
|$125.00||Sophia T McMaster University|
|$125.00||Michael Messer High Point University|
|$125.00||Hayward Chan Hong Kong University of Science & Technology|
|$125.00||Jennifer Miller Walden University|
|$33.30||Dallas DeBruin University of Dayton|
|$33.30||Matthew Gaiser Queen's University|
|$33.30||Archit Nandi University of Florida|
|$33.30||Gabriel Perez Putnam Swarthmore College|
|$33.30||Valerie Z. University of Houston|
|$33.30||Mason Engel Purdue University|
|$33.30||Kyla Scanlon Western Kentucky University|
|$33.30||Mohamad Alkanafani University of Toronto|
|$33.30||Alyssa Paparella Slc|
|$10.50||Francis Daniel Santia Harvard University|
|$10.50||Jessica Li New York University|
|$10.50||Tarun Jha University of Florida|
|$10.50||Sam El Nadi York University|
|$10.50||Curtis Peterson St. Lawrence College|
|$10.50||Claire Stienburg Acadia University|
|$10.50||Nader Golshahr University of Central Florida|
|$10.50||Elisa Tan Coe College|
|$10.50||marc toney University of California at Davis|
|$10.50||Rachel Yu San Jose State University|
|$10.50||David Teston Georgia College & State University|
|$10.50||Marcus Horn Carnegie Mellon University|
|$10.50||Trevor McCarthy University of Central Florida|
|$10.50||Devarshi Shah University of South Florida|
|$10.50||Harris Wekselblatt University of Pennsylvania|
|$10.50||Amanda Loughlin University of Central Florida|
|$10.50||Janelle Simmons Liberty University|
|$10.50||Josh Lyman University of Oregon|