TD Small Businesses
A highly intensive 8-hour hackathon where my team and I were challenged by TD to hack real-life problems.
TD Small Businesses is an app that guides them towards growth, provides insight on relative competitiveness, and builds a community of local business owners.
Together, we won first place out of 20 groups. Check out how we did it!
Hackathon: November 2018
Level Up: Skills Acquired!
Presentation and Proposal Pitch
Ideating and Sketching
Figma Prototyping Tool
Breaking Down The Problem Statement
Who are they? What are their pain points, concerns, and worries? What is their day to day like? How do they feel about banks? How strong is their financial literacy?
"How might we reward small business banking customers for their ongoing business and relations so that they are incentivized to centralize financial tasks with TD
What incentivizes Small Business Owners? How do the things that incentivize Small Business Owners also benefit TD as a company?
What can TD offer as a company? What is the scope of the information they are allowed to provide? How does TD benefit from this new service they are providing?
At the end of the hackathon, this is what we produced!
WE CREATED THIS APP TO HELP SMALL BUSINESSES GET A KICK START. Their concerns about lack of education, guidance, and fear of finances can be remedied via the app and the additional services they get from being part of TD Small businesses.
The home page provides a summary of their accounts and community. It features rank information, business analytics, and upcoming community events.
The tasks page provides a way to help users learn. We used gamification elements such as earning points to help increase users' financial literacy.
Community Page (1):
On the community page, we have two sections. On the forums, customers are encouraged to ask each other for help. To ensure quality, this page is moderated by TD.
Community Page (2):
In the events section, customers are encouraged to come to seminars to learn and meet other business owners. They can also vote for similar topics.
How Do Small Business Owners Feel?
If you are going to make anything for anyone, you have to understand them! Due to the time constraint of the hackathon, we were provided with user personas. We broke down the pain points into the following 6 categories:
Main areas of focus
Lack Of Understanding
Banks do not feel personal/ engaging
Lack of/ not part of a community
Lack of business relationships
Yearning For Success
Want insights on their business
Metrics for success
Lots of reach and impact, FAST
Unpleasant and worried
Need some kind of validation
Doubt, "Will my business be okay?"
Independence and freedom
To quickly move things along
To be successful in their venture and in their personal life
Wants help and advice
Lack of knowledge about finances
* Consider gamification
Potential learning by in case studies
Process Pain Points
Tasks associated with running the business are repetitive and boring
Frustrating and tedious work
did we gather?
Main Pain Points:
Financial jargon is hard to understand
Banks don’t understand their needs; Banks are impersonal, and they find it hard to trust financial institutions.
Help them become financially literate
Help them make good and quick financial decisions
Brainstorming Incentives For The Customers and TD
Any product or service that is successful has to be wanted by its customer and reward the company (aka TD) for providing that service. How might out app incentivize customers (i.e. what is of value to them)? How might TD gain from providing this app?
Incentives for Customers
Rankings indicate how far along they are in growing their business. Increasing rank, more benefits, financial support, and decreased monthly fees
Within the app, there is the opportunity to participate on the community page. Additionally, there are seminars where customers can go to learn something new and meet other small business owners
In the customer's geographic area, they are able to see how successful they are (e.g. by profit/ number of transactions). This provides them with metrics for success and feedback on areas of improvement.
*Privacy Issues: will need to have a minimum number of sample points
Incentives for TD
about how small
Learn how to better cater to small business owners to secure a new customer group
Open way to a new customer group
By providing support and advice for small business owners, they will also learn to set up their business's finances with TD.
Low Fidelity Prototype And What Each Page Does:
After careful consideration and multiple rounds of iterating and voting, we came to this:
Market Analytics Page
Shows how well you stand against others in your industry in your area.
Product Pitch And Value Proposition:
At the final stage of our hackathon, we were required to pitch out our product to a panel of judges. This slide show deck is modified a bit with more information on what our product is and the features on each page.