The Problem
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A regional Australian bank wanted to better understand how its digital banking experience, product portfolio and customer value proposition compared to competitors across both personal and SME banking. The organisation was facing increasing pressure from larger banks with stronger digital ecosystems and broader feature sets, while also trying to differentiate through community positioning and regional relevance.
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Our Methodology & Approach
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• Competitive feature audits across banking websites and apps
• Digital maturity benchmarking
• Conjoint analysis research across banking products
• Customer desirability and feature importance modelling
• Persona and audience analysis
• Global best practice and innovation reviews
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Key Insights & Recommendations
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• The bank ranked lowest overall among benchmarked banks for digital maturity
• The biggest feature gaps existed in Security, Scheduled Payments, Bill Payments and Transaction History
• Customers consistently prioritised practical and security-related features over experimental or innovation features
• Retirees preferred desktop banking while most other audience segments preferred mobile apps
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Optimisation Recommendations
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• Prioritisation roadmap to enhance high-impact digital banking features
• Greater focus on mobile-first onboarding and servicing experiences
• Digital onboarding enhancements
• Product simplification informed by conjoint preference modelling
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Outcomes
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• Delivered a quantified digital maturity benchmark across banking competitors and platforms
• Identified the highest-priority feature gaps impacting customer expectations and competitive positioning
• Provided evidence-based product optimisation recommendations grounded in conjoint trade-off analysis
• Enabled more targeted digital investment decisions based on customer desirability and behavioural modelling.

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