CIB - UX research case study

My methodology

I dug deep into the world of case studies, scouring academic articles and databases to find the best practices. I even looked at ten Harvard Business Review-style case studies to get a better idea of what works. Then, I analyzed an industrial case study and visited a design consultancy to get the lowdown on how to put it into practice.

Using all of this knowledge, I came up with a plan to blend different types of case studies together. I even got my team involved in building some case studies themselves. But it wasn't just about theory - I wanted to see real-life success stories from Colombian companies. After sifting through all of the options, we settled on LEGO, INMOTION, Bancolombia, and its Innovation Center.

I went all-in on researching these companies, conducting interviews and gathering information on their innovative practices and business processes. Then, I used my proposed methodology to analyze all the data and determine what made each case study so successful, using innovation theories such as Tidd and Bessant's evaluation of product, process, position, and paradigm innovation, and the 10 types of innovation.

I was on a mission to find the perfect company for our case study. To help us out, I turned to a nifty methodology called "The 12 Different Ways for Companies to Innovate" (Sawhney, Wolcott, & Arroniz, 2007).(cool name, right?).

After crunching the numbers, I found that all of the companies I looked at had potential. But when I compared them, Bancolombia's Innovation Center came out on top. check the graphic down

Why did CIB Bancolombia win?

Well, first things first, the information I needed was easy to get my hands on. And when I looked at the results, they were crystal clear compared to the other companies. So I decided to focus my efforts on this innovative powerhouse.

To sum it up, Bancolombia's strategy - implemented and amped up by the CIB - is top-notch in every way. The strategy is ambitious, wise, conscious, and totally coherent in terms of their process, strategy, and timing. It's no wonder they've been recognized time and time again as one of the most innovative and sustainable banks out there. They're completely changing the way people look at financial institutions, and it's seriously impressive.

It's all about that inside-out mentality when it comes to reflecting respect and warmth to others. Bancolombia gets it, and they're making it happen. They know that in order to achieve their desired results, they've got to reflect and work on themselves internally first.
After all, Bancolombia was created by and for the people, and they're totally dedicated to making a positive impact on the world.All in all, Bancolombia has totally nailed their innovative strategy of becoming the most humane bank around. It's clear they're doing something right - and they're doing it with heart!

The first one

Analysis from the perception of those involved in the Bank's processes.

If people are at the center of the company, then what is the bank doing to impact them in the way it hopes to do? This analysis was carried out with the purpose of observing the impact, behavior change, and perception that relevant actors of innovation in the bank, including customers, employees, and experts, have on the bank. At the same time, it aims to evaluate the actions being taken by the innovation center to ensure that the challenge of making the bank more human and customer-centric is being met.

Mobilizers

Mobilizers' perception of the innovation center and the bank shows personal and professional transformation through training and knowledge acquisition. They gained increased tolerance for frustration and failure, transformative knowledge, collaborative skills, and a focus on people's potential. The lack of formalization standards facilitates idea production and mistakes are viewed as opportunities for growth.

Customers:

The bank's goal is to simplify processes and procedures to make the customer's life easier. Innovation is key to generating positive impacts on customers' time, experience, and trust. The bank's current offerings, including mobile apps, online payments, and streamlined procedures, have transformed the way customers interact with the bank.

This change in behavior is reflected in a survey of 43 people, where 100% of respondents between the ages of 17 and 35 only use Bancolombia. Additionally, 92% of the surveyed customers use Bancolombia's mobile application and virtual branch to carry out their banking transactions. Through observation and conversation, customers of Bancolombia report having reduced their visits to the bank to carry out banking transactions.

Bank employees:

Employees outside the innovation center were surveyed, and they agreed that the bank is becoming more innovative, customer-centric, and inclusive. However, they feel disconnected from the center's practices and would like to implement its methodologies. They suggest more support across departments for the innovation center's approaches

The employees at CIB:

Perceive that Bancolombia is strongly targeting all the spectrums that innovation presents, and that the bank as an organization is achieving greater results through better management. However, despite this, the bank still doesn't fully grasp the potential impact of the change that could occur in the coming years.The change is becoming evident in the mindset of the bank's employees, allies, and CIB stakeholders, and is directly influencing the way that different departments relate to each other, as well as the conversations that are taking place.

The second one

A comparative analysis of the past, present, and future.

This timeline was created from a personal perspective based on the information obtained during the case study.

The third one

Analysis from innovation

According to the initial concepts of innovation outlined in this analysis, the goal is to recognize the various aspects of innovation, the applicable models of innovative practices, and how the company is managing innovation based on "The 12 different ways for companies to innovate" model.

You can see the results here