Role
Service Designer
Date
March - April 2025
Industry
Banking (Digital)
Bringing Market Intelligence to Small Businesses
Bringing Market Intelligence to Small Businesses
Role
Service Designer
Date
2024
Industry
Banking
A discovery piece to co-design a market intelligence offering for Small Business customers and unlock new growth opportunities for Westpac.
A discovery piece to co-design a market intelligence offering for Small Business customers and unlock new growth opportunities for Westpac.
A discovery piece to co-design a market intelligence offering for Small Business customers and unlock new growth opportunities for Westpac.
The Challenge
The Challenge
Westpac’s DataX delivers market insights by leveraging consumer credit card data with in-house analytics expertise to support strategic business decision-making. Historically, delivered as a bespoke service for Institutional clients only.
The business saw a commercial opportunity to extend this capability to small business (SME) and Commercial customers, creating new revenue potential.
The challenge was to understand small business customers' appetite for a market intelligence solution, whether as a self-serve tool or as a banker-led tool. This involved uncovering the market insights SMEs need, how they would use them for decision-making, and the most suitable product structure and delivery model.
Westpac’s DataX delivers market insights by leveraging consumer credit card data with in-house analytics expertise to support strategic business decision-making. Historically, delivered as a bespoke service for Institutional clients only.
The business saw a commercial opportunity to extend this capability to small business (SME) and Commercial customers, creating new revenue potential.
The challenge was to understand small business customers' appetite for a market intelligence solution, whether as a self-serve tool or as a banker-led tool. This involved uncovering the market insights SMEs need, how they would use them for decision-making, and the most suitable product structure and delivery model.
The Process
The Process
Market scan
To first understand the strategic opportunity, we began with a market scan examining global trends in how businesses and banks are leveraging data, alongside a targeted competitor analysis.
Below is a sample of the artefacts during this phase, along with a summary of the key insights uncovered:
Market scan
To first understand the strategic opportunity, we began with a market scan examining global trends in how businesses and banks are leveraging data, alongside a targeted competitor analysis.
Below is a sample of the artefacts during this phase, along with a summary of the key insights uncovered:
Qualitative Customer Research
We conducted 16 in-depth, 60-minute interviews across SME and Commercial customers, using early mid-fidelity concepts to test the appeal, use cases (e.g. market trends, benchmarking, customer insights), and delivery models of DataX. This helped assess demand for an out-of-the-box, freemium offering.
What we tested:
Qualitative Customer Research
We conducted 16 in-depth, 60-minute interviews across SME and Commercial customers, using early mid-fidelity concepts to test the appeal, use cases (e.g. market trends, benchmarking, customer insights), and delivery models of DataX. This helped assess demand for an out-of-the-box, freemium offering.
What we tested:
The Outcome
The Outcome
The qualitative research reshaped the original DataX proposition and clarified its commercial potential among SME and Commercial customers. While there is clear appetite for data-backed insights, willingness to pay for a freemium off the shelf offering was limited, highlighting the need to refine the product construct.
Key findings & research outcomes
The qualitative research reshaped the original DataX proposition and clarified its commercial potential among SME and Commercial customers. While there is clear appetite for data-backed insights, willingness to pay for a freemium off the shelf offering was limited, highlighting the need to refine the product construct.
Key findings & research outcomes
What we delivered
Using these insights, we worked closely with the DataX team and stakeholders to co-design a revised CVP grounded in actual customer behaviour rather than assumptions. This resulted in:
A reshaped proposition that avoided misaligned investment and focused effort on higher-value use cases
Clear validation of customer appetite, including defined limits on perceived value and willingness to pay
Executive endorsement and funding to trial a report-based MVP, representing a pivot from the original plan to build a full self-serve tool within Online Banking
What we delivered
Using these insights, we worked closely with the DataX team and stakeholders to co-design a revised CVP grounded in actual customer behaviour rather than assumptions. This resulted in:
A reshaped proposition that avoided misaligned investment and focused effort on higher-value use cases
Clear validation of customer appetite, including defined limits on perceived value and willingness to pay
Executive endorsement and funding to trial a report-based MVP, representing a pivot from the original plan to build a full self-serve tool within Online Banking
The Learnings
The Learnings
Shaping product direction early: Gained experience influencing a product concept at its earliest stage by exploring customer needs and testing value before design or pricing decisions were set.
Framing insights constructively: Developed skills in presenting sensitive or unexpected findings to stakeholders in a way that informed decisions without undermining momentum.
Building confidence in strategic discussions: Strengthened ability to contribute to high-level conversations about product viability and investment by using research evidence
Shaping product direction early: Gained experience influencing a product concept at its earliest stage by exploring customer needs and testing value before design or pricing decisions were set.
Framing insights constructively: Developed skills in presenting sensitive or unexpected findings to stakeholders in a way that informed decisions without undermining momentum.
Building confidence in strategic discussions: Strengthened ability to contribute to high-level conversations about product viability and investment by using research evidence
The Feedback
The Feedback
“Therese made a strong contribution to the DataX initiative, demonstrating solid customer research and market analysis skills that influenced strategic direction, with the work informing FY26+ BSR investment and digital roadmaps for Business and Wealth.”
Max Hughes (Design Lead)
Therese helped to educate and reshape LOB’s view of CX and engagement – as with many CX engagements, we were approached with a different ask to what our sponsors needed - Therese helped to bring our stakeholders into the CX trenches with us to ensure they were heard and brought along the journey.”
James MacIntyre (Senior Designer)
“Therese made a strong contribution to the DataX initiative, demonstrating solid customer research and market analysis skills that influenced strategic direction, with the work informing FY26+ BSR investment and digital roadmaps for Business and Wealth.”
Max Hughes (Design Lead)
Therese helped to educate and reshape LOB’s view of CX and engagement – as with many CX engagements, we were approached with a different ask to what our sponsors needed - Therese helped to bring our stakeholders into the CX trenches with us to ensure they were heard and brought along the journey.”
James MacIntyre (Senior Designer)
Copyright 2025 by Therese Quiogue
Copyright by Therese Quiogue
Copyright 2025 by Therese Quiogue