In order to create a bank brand which performs well for the 16-25 age group and for students, I thought it would be most beneficial to get the voice of that age groups from my friends themselves. I conducted some polls on Instagram’s ‘close friends’ feature and asked a few questions… Which bank they use the most, if they use more than one, did they use Monzo or Revolut? I found that most of them had a standard current account alongside a Monzo or a Revolut account. Over half of my friends use Monzo while the other proportion lean towards Revolut – some even have both! I chose to look at a comparison between these two to brands, looking at their similarities, differences and also why they prove to be a success amongst this age group as these are the two which will likely inspire my own brand the most.
From my own experience with Monzo, I am also able to voice my own opinion and therefore made a mind map a few things I enjoy about using it alongside general information I have gathered.
I interviewed one of my friends Lauryn about her experience using Revolut as it is something I’ve never had first hand experience with before. This allowed me to build up another user persona for while gaining pros and cons for Revolut as a whole.
Looking at the top banks based off overall service quality inspired me to look into why they are so successful. I believe that this derives from their values and culture within the business, which in turn has a reflection to their customers.
