Extending the home loan pipeline
Saving the deposit for a home takes first-home buyers in Australia anywhere from five to nine years, depending on which state they live in.
ANZ saw an opportunity to help first-home buyers build a savings plan to achieve their goal of owning a home sooner.
Craig Walker worked with the ANZ team to help them understand how people approach saving for a deposit and to design a minimum loveable product for these customers.
Working in-branch with home loan teams, we researched, designed and prototyped Your First Property Savings Plan alongside the local staff and with branch customers.
A structured conversation supported by simple, paper-based tools, the savings plan gave bankers a way to help customers build a budget, capture their priorities and set a deposit savings goal. A supporting suite of tools and calculators are also available on anz.com.
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The project in numbers
3Participating branches
10Testing sessions
6Weeks from discovery to beta
Modular and personalised
Designed and tested with multiple branches, the modular tools give bankers ways to tailor the conversation to their customer’s personal circumstances. Customers take the completed plan home for future reference, action and follow-up.
Alpha to beta in six weeks
By working onsite in branches and with bank staff, we were able to prototype a set of tools for alpha testing within a week. These were tested and iterated into a beta version that was modular and specific to saving for a deposit.
ANZ used the beta model as the starting point for quickly piloting and launching the new service.