Banking in developing nations and emerging markets.
Lack of financial literacy and education.
* Currently subject to confidentiality
Project participants may be contacted directly for more information on project development and outcomes.
The Commonwealth Bank is Australia's leading provider of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, insurance, investment and share broking products and services. In its plight to expand and explore; three key emerging markets have been recognised as having massive potential growth. Specifically, the emerging middle class and younger consumer groups have been identified as the key segment. However, financial literacy is at a low and research confirms that in order to penetrate this segment education is key. The objective of this project is to provide creative solutions that tap directly into this market, educate, engages and promotes users and increases the overall level of financial literacy. To address this challenge, an international group of 16 graduate and undergraduate students across multiple disciplines and majors were hand-picked and lead by 2 professors. Students were challenged with the design thinking approach in various sub–groups across 10 weeks of brainstorming, defining and redefining concepts and solutions to fit the client briefing.