🌿 BANKING – BE GREEN: A CUSTOMER LIFECYCLE APPROACH

Posted 2 months ago

// What is Futury?

Futury is an innovation and company building platform that connects students and innovation-seeking companies. We like to give talented people the opportunity to unlock their full potential by developing value-based innovations. Futury starts with the innovation request of the business partner, transforms it into a project and invites young talents and entrepreneurs to participate in these. During the project phase in the “Futury Founders Academy”, the teams go through a structured, three-month start-up and innovation program that takes them from the first concept to the final business case. In addition to professional and technical workshops, the teams are coached by experienced mentors of the Werte-Stiftung, to ensure sustainability in innovation.

// The Mission

The Mission is an initiative of Deutsche Bank, Futury, Bain & Company, GreenCycle and Handelsblatt Media Group. It is a series of twelve innovative projects, aiming to bring sustainability in every field of our lives.

In precise terms, the initiators have defined twelve future topics that address important challenges for our sustainable future. Over the next three years, teams of young talents will work on these twelve topics, and develop innovative solutions. Our team will support the talents throughout the whole process, from putting the idea on paper to developing the first prototype. Our strategic partners will support the teams in project management and will be in permanent contact with them.

The kick-off of the first of twelve projects, the Mission I : “Waste – Be circular”, took place on September 18th within the frames of the EBS Symposium. Three further topics are planned for 2020: “Banking – Be Green!”, “Water – Be Scarce!” and “Cities – Be Smart!”.

The Mission II “Banking – be green: A customer lifecycle approach” starts in February 2020.

// What is the “Banking – Be green!” project about?

The banking industry is currently going through a lot of changes, as the customer preferences and demands transform. Our project aims to determine the expectations of the new generation of customers and adapt our partner Deutsche Bank’s offerings accordingly.

Consumers’ awareness of the importance of sustainability has drastically affected their purchasing behavior. When choosing a new product or a service, sustainability has become one of the deciding factors, especially for the younger generation.

Banks provide customers with different products and services at every stage of their lives. From financing the education, to buying their own house, to planning the retirement. They need to adapt their offerings to the preferences and expectations of the new generation to retain market leadership and grow their customer base.

But how? 

In collaboration with Deutsche Bank, Futury has defined nine areas, in which customers reach out to banks’ services:

The growing awareness about the importance of sustainability has drastically affected consumer behavior. When choosing a product or a service, sustainability has become one of the deciding factors, especially for the younger generation.

You apply for one of the nine areas with a business idea that adds value to Deutsche Bank and its customers. For instance: an advanced business model, an improved customer interface, an optimized service or a completely different solution. A possible example for the area “leisure” could be a green travel credit card that allows customers to track the sustainability of their holidays worldwide.

During the project, you will focus on developing your idea into a validated business model with the support of Futury, Deutsche Bank, Bain and Company and the other respective partners.

// How can I develop my idea for my application?

• Develop and show us your best idea for one of the areas, defined above
• As a guideline you can use one of the following fields for developing your idea. Most important: Be creative!

New Business Models:
The first step is to ask what customers – beyond buzzwords – expect from a sustainable bank. Are there completely new business models in one of the areas defined above that a bank can offer its existing clients or new clients to add value for them?

Customer Journey:
Another way to find an idea is to analyze the customer journey of bank and insurance customers: Which “journey” and which “experience” does the customer actually want? Are there any areas where you haven’t felt that your bank was looking after you perfectly, where are potential optimization fields?

// Project timeline

30.11.2019 – End of the application period.

January 2020 – Announcement of the Participants

February 2020 – Official Project Kick-Off

February – May 2020 – Project Development Phase: Intensive workshops on topics like Design Thinking, Business Modelling, Market research, Customer Experience, etc; Execution of the ideas, prototyping, company visits, expert talks, pitches.

May 2020 – Final Pitch for the Corporate Partners.

// Enjoy your Benefits!

• Work 3 months (full-time) in a co-working space in Frankfurt
• Intensive support by experts and renowned coaches
• Direct access to all corporate partners
• Workshops and training curriculum to provide all necessary skills
• Monthly financial support for you and your idea
• Internship Certificate + the possibility to get credit points for your studies

// How do I apply?

1) Choose one area from the areas listed above (Education, Mobility, Health,…)
2) Think of an innovative idea for that topic and fill out our application guideline
3) Submit it along with your CV

4) Optional:
• Apply as a team

Apply Online