Insights

About the author(s)

About the writer

Cindy is a Media and Communication graduate from the City University of Hong Kong. Dedicated to content creation and organizing ESG activities, Cindy works in the Evangelist Team, managing GreenTomato's channels and spreading our latest movements, insights, and values to the community. She is passionate about delving into the technology world while also enjoying connecting dots in any kind of co-creation formats.

Design Thinking_Cover_V10.png

Design thinking is a non-linear, iterative process that teams use to understand users, challenge assumptions, redefine problems and create innovative solutions to prototype and test. It is a human-centered approach to innovation that focuses on understanding the needs of the people you are designing for and creating solutions that meet those needs in a creative and effective way.<h1>The Design Thinking Process</h1>The design thinking process is typically divided into five stages: 1. Empathize: The first step is to empathize with the people you are designing for. This involves understanding their needs, wants, and pain points. You can do this through user interviews, surveys, and observation. 2. Define: Once you have a good understanding of your users, you can start to define the problem you are trying to solve. This involves identifying the core needs that your users have and the challenges they are facing. 3. Ideate: The ideate stage is all about coming up with creative solutions to the problem you have defined. This is where you can brainstorm ideas, experiment with different concepts, and sketch out possible solutions. 4. Prototype: Once you have some ideas, it's time to start prototyping. This involves creating low-fidelity versions of your solutions that you can test with users. This will help you to refine your ideas and identify any potential problems. 5. Test: The final step is to test your prototypes with users. This will give you feedback on your solutions and help you to identify any areas that need improvement.<h1>Why is Design Thinking Important?</h1> Design thinking is important because it is a human-centered approach to innovation. It prioritizes understanding and empathizing with users, leading to solutions that truly address their needs. It fosters innovation and creativity by encouraging diverse perspectives and iterative prototyping. Collaboration and interdisciplinary teamwork are emphasized, resulting in holistic solutions. Additionally, design thinking promotes adaptability and future readiness by navigating uncertainty and embracing change. By incorporating design thinking, organizations can drive innovation, differentiation, and meaningful impact in a rapidly evolving world. It can be applied to solve a wide range of problems, from developing new products and services to improving existing ones, as well as addressing social and environmental challenges. Design thinking is important when considering time, cost, customer experience, and loyalty aspects.&nbsp; 1. Time Efficiency Design thinking's iterative and collaborative approach speeds up problem-solving and reduces development cycles. 2. Cost Effectiveness By involving users early on, design thinking minimizes the risk of costly mistakes and redesigns. 3. Enhanced Customer Experience Design thinking's customer-centric approach tailors products/services to meet specific customer needs, resulting in superior experiences. 4. Customer Loyalty Design thinking fosters customer loyalty by creating solutions that resonate with customers, leading to satisfaction and advocacy.<h1>Use Cases for Design Thinking</h1>Design thinking is a powerful tool that can be used to solve a wide range of problems. It is a process that is both user-centered and innovative, and it can help teams to break down silos and think outside the box. Product design: Design thinking can be used to design new products and features that meet the needs of users. For example, a company might use design thinking to design a new smartphone that is more user-friendly and has features that users actually want. Service design: Design thinking can also be used to design new services or improve existing ones. For example, a bank might use design thinking to design a new mobile banking app that is easier to use and more secure. Business innovation: Design thinking can also be used to develop new business models and strategies. For example, a company might use design thinking to develop a new way to deliver its products or services to customers.<h2>Industries and Sectors</h2>Design thinking can be used in a wide range of industries and sectors, including: Business: Design thinking can be used to develop new products and services, improve existing ones, and create new business models. Education: Design thinking can be used to improve teaching and learning, develop new educational programs, and create more engaging learning experiences. Government: Design thinking can be used to improve public services, develop new policies and programs, and create more innovative and effective government agencies. Healthcare: Design thinking can be used to improve healthcare delivery, develop new medical devices and treatments, and create more patient-centered healthcare systems. Non-profit: Design thinking can be used to develop new social programs, improve the effectiveness of existing ones, and create more innovative and sustainable non-profit organizations.<h2>Real-world Examples</h2>Examples of how design thinking has been used to solve real-world problems: Google Maps: Design thinking was used to develop Google Maps, one of the most popular navigation apps in the world. The design team interviewed hundreds of people to understand their needs and pain points when using maps. This information was used to create a map app that is easy to use and provides the information that people need most. IBM Watson: Design thinking was used to develop IBM Watson, a cognitive computing platform that can answer questions and solve problems in a human-like way. The design team worked with doctors and researchers to understand the challenges they face in diagnosing and treating diseases. This information was used to develop Watson, which can now be used to help doctors diagnose diseases more accurately and recommend treatments that are more likely to be successful.<h1>How has Green Tomato utilized design thinking to assist its clients?</h1>Developing a new mobile banking app for a bank: Green Tomato worked with the bank to understand the needs and wants of its customers. The team then developed a prototype of a new mobile banking app that was easier to use and more secure than the bank's existing app. The prototype was tested with customers and refined based on their feedback. The new mobile banking app was launched and was a huge success with customers. Designing a new product for an insurance company: Green Tomato worked with the insurance company to understand the needs and wants of its customers. The team then ideated a number of new product ideas. The team selected the most promising idea and developed a prototype. The prototype was tested with customers and refined based on their feedback. The new product was launched and was a huge success with customers. &nbsp;

Design thinking is a non-linear, iterative process that teams use to understand users, challenge assumptions, redefine problems and create innovative solutions to prototype and test. It is a human-centered approach to innovation that focuses on understanding the needs of the people you are designing for and creating solutions that meet those needs in a creative and effective way.

Louis is the Assistant UI/UX Manager at GreenTomato, with over 6 years of experience revamping insurance and banking platforms to help clients achieve business goals such as enhancing user experience and sales efficiency.

What is Design Thinking?

Design Case Studies in Banking and Finance that connect you and me

Product development: Balanced product

Product development: Balanced UX design