Doconomy
mitigating climate IMPACT through sustainable banking
Role: design strategist, impact initiator
TEAM: chevara naidoo, katherine salamat, roberta morales, isabel sanoja, jennifer zhong, tiffany chan
Main methods I used:
+ Prototype iteration
+ Partnership matrix
+ Impact initiative design
+ Trend analysis & market research
+ Personas & customer journey
+ Keep-lose-improve matrix
THE CHALLENGE
Doconomy is a Swedish fin-tech company with the mission of reducing climate impact through sustainable banking by issuing the first credit card to measure the carbon footprint of transactions. Our team took on the challenge to develop new strategies that help the company launch their products successfully into the market.
THE CUSTOMER JOURNEYS
THE STRATEGIES
In order to launch Doconomy successfully into the U.S. market, our team’s goal is to position Doconomy as “The Greener Choice” in financial decision-making for young Millennials and Gen Z.
Strategy 1: Expand Market Segment
The first strategy to achieve this goal is expand market segment to high school students.
This requires a new junior debit card that allows customers to start their sustainable banking journey early.
Together with the junior debit card, we drafted an educational campaign strategy to increase financial literacy for our customers through DO Talks and DO Workshops. The target audience ranges from high school students to established professionals.
Customers can do point accrual for workshop attendance, while learning about different topics related to financial management and climate impact.
Strategy 2: Improve Reward System
Our team developed a reward allocation system to incentivize customers beyond the self. By purchasing from sustainable companies, taking action to help the planet, or deploying impact investment capital, customers can help mitigate climate impact together with Doconomy.
Strategy 3: Develop Strategic Partnership
We developed a partnership rubric assessment for Doconomy based on 3 pillars: social, economic and environmental impact. The Doconomy team will fill out this rubric based on research and interviews with public and private partners.
These partnerships will increase Doconomy’s reach in the U.S. market, position the company among industry thought leaders in sustainability, as well as help customers cultivate healthy spending habits daily.
Strategic partnerships with retail stores and businesses will improve the data tracking system for the DO financial management app. Daily transactions and points from these businesses will be transferred directly through the system.
We will also use machine learning to create individualized suggestions for customers according to their lifestyle and purchasing patterns.
DO points can also be converted to gift cards from DOCONOMY partners, cash and charity donation options.
