It has been long known that kids of today will be the key to growth in the future. Currently, there is no specific offering geared towards kids within a financial institution. An assumption that can be made is that if you have an association with a bank at a young age, the chances of churning as an adult are very low.

You have been hired as a consultant to create a proposition that will XYZ the best bank for kids. You are required to pitch a strategy, design a product, and walk through how you would go to market. We would also like to know if there are quick and easy ways to test your hypothesis.

Situation context: 

Kids are anyone under the age of 16 years. Determine what age bracket makes most sense for us to target

Kids are well versed with technology and would like an offering that is truly digital

Expectations:

What product would you recommend and why?

What customer segment would that be targeted for and why?

Can you outline high level features/ experience this product will have?

How will you measure the success of the product?  

Presentation:

Please feel free to use any format to present your thoughts – word doc/ ppt

Keep it simple. Please limit to 6 (or fewer) pages or slides to present your strategy, insights, product concept & business rationale

Feel free to share your behind-the-scenes process or any research in appendix

Please do not worry about detailing the designs. The thought process is more important

Feel free to use examples from other geographies or other industries

Answer rating: 100% (QA)

Determine what age bracket makes the most sense for us to target The age bracket that makes the most sense for targeting is between 12 years to 16 yea... View the full answer