Understanding & redesigning the banking experience for young millennials
Understanding & redesigning the banking experience for young millennials
Role
UX Researcher
Duration
7 weeks
Client
People First Bank
Brief
I recently worked on a 7-week UX research sprint for People First Bank, a newly unified customer-owned financial institution in Australia formed from the merger of Heritage Bank and People’s Choice Credit Union. The bank was undergoing a major brand transformation to reposition itself for long-term growth by attracting and retaining millennial customers (aged 22–43), a highly digital, socially conscious, and skeptical demographic. Despite offering ethical banking, strong ESG initiatives, and member-first ownership, People First was struggling to attract and retain younger members.
In this end-to-end research project with Harness Projects, I worked with 12 UX designers to uncover barriers to engagement, loyalty gaps, and experience shortfalls—and to deliver actionable recommendations that could inform the bank’s future UX, digital marketing, and service design efforts.
I worked across stakeholder alignment, qualitative and quantitative research, persona development, and insight synthesis. The final deliverables included a full research report, insight-driven UX strategy, and a high-level recommendations framework delivered directly to the bank's senior team.
What Wasn't Working!
People First Bank was struggling to connect with younger users. While their values aligned with what millennials claim to care about — ethics, sustainability, and community, these messages weren’t driving engagement. Awareness was low, and the concept of mutual banking was often misunderstood or unknown.
Millennials were switching banks easily, making decisions based on convenience and digital experience, not values. Loyalty was rare, and emotional connection even rarer. Despite strong offerings, People First wasn’t seen as relevant, not because of what it provided, but because it wasn’t showing up in the ways this generation expected.
Where the Opportunities Lie
Our research revealed five clear ways People First could start closing the gap with younger customers. By designing more personalized digital experiences, rewarding long-term relationships instead of transactions, and creating seamless, connected service across channels, the bank has an opportunity to build real trust. Adding to that, offering simple, relatable financial education and making their ethical values more visible in everyday banking could help shift perceptions.
Together, these opportunities point toward a more modern, human, and values-driven experience, one that feels relevant to how millennials bank today.
What Wasn't Working!
People First Bank was struggling to connect with younger users. While their values aligned with what millennials claim to care about — ethics, sustainability, and community, these messages weren’t driving engagement. Awareness was low, and the concept of mutual banking was often misunderstood or unknown.
Millennials were switching banks easily, making decisions based on convenience and digital experience, not values. Loyalty was rare, and emotional connection even rarer. Despite strong offerings, People First wasn’t seen as relevant, not because of what it provided, but because it wasn’t showing up in the ways this generation expected.
Where the Opportunities Lie
Our research revealed five clear ways People First could start closing the gap with younger customers. By designing more personalized digital experiences, rewarding long-term relationships instead of transactions, and creating seamless, connected service across channels, the bank has an opportunity to build real trust. Adding to that, offering simple, relatable financial education and making their ethical values more visible in everyday banking could help shift perceptions.
Together, these opportunities point toward a more modern, human, and values-driven experience, one that feels relevant to how millennials bank today.
The Process
The project was structured over 7 weeks, with an emphasis on research depth, insight synthesis, and strategic recommendations. I worked collaboratively with a team of 12 UX designers through Harness Projects, with each member responsible for independent research contributions.
Week 1–2 — Discovery & Stakeholder Alignment
Conducted a virtual alignment session with People First’s Head of Marketing and UX Lead
Mapped business goals: grow millennial membership, digitize offerings, improve trust and engagement
Identified key challenges: low brand awareness, high digital drop-off, limited youth relevance
Outcome: Aligned on a research roadmap addressing both user needs and strategic business priorities.
Week 2–3 — Secondary Research & Surveys
Reviewed digital banking trends (e.g., personalization, AI features, loyalty models)
Studied case examples from global banks and fintech disruptors
Designed and deployed three surveys (ESG attitudes, banking behaviors, feature preferences) with 35+ responses
Key Insights:
85% would switch banks for aligned values, but only 25% had done so
73% wanted savings tools; 61.5% preferred chat-based support
Trust and simplicity ranked above ethical values in real decision-making
Outcome: Validated core hypotheses and shaped interview focus areas.
Week 3–4 — User Interviews
Conducted five 1:1 semi-structured interviews with millennials aged 28–34 in NSW and VIC
Explored pain points, switching behavior, perceptions of ESG, and trust in financial institutions
Mapped patterns across key personas and banking archetypes
Key Patterns:
Most used multiple banks and viewed switching as easy and low-risk
Digital banking felt impersonal; financial education was lacking
ESG was “nice to have,” but rarely influenced actual banking choices
Outcome: Identified unmet emotional needs and use cases that current offerings ignored.
Week 5 — Synthesis & Strategic Recommendations
Synthesized research using affinity mapping and journey analysis
Delivered six strategic UX/product recommendations tied to business goals
Core Recommendations:
Loyalty by Relationship – Rewards based on tenure, engagement, and product depth
Social Financial Education – Snackable money tips via TikTok and YouTube
Smart Budget Nudges – Real-time, personalized savings and spending alerts
Visible ESG Impact – Clear onboarding and everyday transparency around values
Channelless Support – Seamless transitions across chat, app, and in-branch service
Outcome: Final strategy delivered to the client is now informing People First’s ongoing digital transformation roadmap.
The Process
The project was structured over 7 weeks, with an emphasis on research depth, insight synthesis, and strategic recommendations. I worked collaboratively with a team of 12 UX designers through Harness Projects, with each member responsible for independent research contributions.
Week 1–2 — Discovery & Stakeholder Alignment
Conducted a virtual alignment session with People First’s Head of Marketing and UX Lead
Mapped business goals: grow millennial membership, digitize offerings, improve trust and engagement
Identified key challenges: low brand awareness, high digital drop-off, limited youth relevance
Outcome: Aligned on a research roadmap addressing both user needs and strategic business priorities.
Week 2–3 — Secondary Research & Surveys
Reviewed digital banking trends (e.g., personalization, AI features, loyalty models)
Studied case examples from global banks and fintech disruptors
Designed and deployed three surveys (ESG attitudes, banking behaviors, feature preferences) with 35+ responses
Key Insights:
85% would switch banks for aligned values, but only 25% had done so
73% wanted savings tools; 61.5% preferred chat-based support
Trust and simplicity ranked above ethical values in real decision-making
Outcome: Validated core hypotheses and shaped interview focus areas.
Week 3–4 — User Interviews
Conducted five 1:1 semi-structured interviews with millennials aged 28–34 in NSW and VIC
Explored pain points, switching behavior, perceptions of ESG, and trust in financial institutions
Mapped patterns across key personas and banking archetypes
Key Patterns:
Most used multiple banks and viewed switching as easy and low-risk
Digital banking felt impersonal; financial education was lacking
ESG was “nice to have,” but rarely influenced actual banking choices
Outcome: Identified unmet emotional needs and use cases that current offerings ignored.
Week 5 — Synthesis & Strategic Recommendations
Synthesized research using affinity mapping and journey analysis
Delivered six strategic UX/product recommendations tied to business goals
Core Recommendations:
Loyalty by Relationship – Rewards based on tenure, engagement, and product depth
Social Financial Education – Snackable money tips via TikTok and YouTube
Smart Budget Nudges – Real-time, personalized savings and spending alerts
Visible ESG Impact – Clear onboarding and everyday transparency around values
Channelless Support – Seamless transitions across chat, app, and in-branch service
Outcome: Final strategy delivered to the client is now informing People First’s ongoing digital transformation roadmap.
The Process
The project was structured over 7 weeks, with an emphasis on research depth, insight synthesis, and strategic recommendations. I worked collaboratively with a team of 12 UX designers through Harness Projects, with each member responsible for independent research contributions.
Week 1–2 — Discovery & Stakeholder Alignment
Conducted a virtual alignment session with People First’s Head of Marketing and UX Lead
Mapped business goals: grow millennial membership, digitize offerings, improve trust and engagement
Identified key challenges: low brand awareness, high digital drop-off, limited youth relevance
Outcome: Aligned on a research roadmap addressing both user needs and strategic business priorities.
Week 2–3 — Secondary Research & Surveys
Reviewed digital banking trends (e.g., personalization, AI features, loyalty models)
Studied case examples from global banks and fintech disruptors
Designed and deployed three surveys (ESG attitudes, banking behaviors, feature preferences) with 35+ responses
Key Insights:
85% would switch banks for aligned values, but only 25% had done so
73% wanted savings tools; 61.5% preferred chat-based support
Trust and simplicity ranked above ethical values in real decision-making
Outcome: Validated core hypotheses and shaped interview focus areas.
Week 3–4 — User Interviews
Conducted five 1:1 semi-structured interviews with millennials aged 28–34 in NSW and VIC
Explored pain points, switching behavior, perceptions of ESG, and trust in financial institutions
Mapped patterns across key personas and banking archetypes
Key Patterns:
Most used multiple banks and viewed switching as easy and low-risk
Digital banking felt impersonal; financial education was lacking
ESG was “nice to have,” but rarely influenced actual banking choices
Outcome: Identified unmet emotional needs and use cases that current offerings ignored.
Week 5 — Synthesis & Strategic Recommendations
Synthesized research using affinity mapping and journey analysis
Delivered six strategic UX/product recommendations tied to business goals
Core Recommendations:
Loyalty by Relationship – Rewards based on tenure, engagement, and product depth
Social Financial Education – Snackable money tips via TikTok and YouTube
Smart Budget Nudges – Real-time, personalized savings and spending alerts
Visible ESG Impact – Clear onboarding and everyday transparency around values
Channelless Support – Seamless transitions across chat, app, and in-branch service
Outcome: Final strategy delivered to the client is now informing People First’s ongoing digital transformation roadmap.
The Impact
Outcome
Summary
Strategic Clarity
Aligned research and strategies with business goals, highlighting millennial needs and ethical banking.
User Outcomes
High user interest: 89% confident with personalization, 85% consider account consolidation, 78.6% want financial education.
Loyalty Shift
Loyalty redefined as ease, personalization, ethics, and emotional connection—not just rewards.
Real-World Readiness
Supported prototyping and UI updates; scalable, flexible strategic design directions.
Emotional Validation
Features felt supportive and trustworthy, boosting control and safety feelings.
