GBST wins the IBS Intelligence NeoChallenger Bank Award with its term deposit comparison calculator
GBST has been selected as the 2021 Australian winner of the inaugural IBSI NeoChallenger Bank Award for a term deposit comparison calculator designed for Australia’s first challenger bank, Judo Bank, to improve online customer engagement and drive new customer applications.
Rob DeDominicis, CEO at GBST, commented, “We are proud to have been recognised as the Australian winner for the IBSI NeoChallenger Bank Awards. With over 80 participating enterprises from over 30 countries, we are honoured that our award submission clearly stood out.”
Brianna Dobing, Digital Manager at GBST, said, “The GBST Digital Team were absolutely delighted with our award win. It represents a clear testimony to the digital functionality and innovation the team has delivered to more than 80 clients around the world, including Judo Bank.
“The background to designing the tool was focused on the user journey and how we could make it easy for Judo’s prospective customers to directly compare term deposit products in a visual format. It was important to demonstrate how much more money a customer could earn with Judo’s term deposit product over a competitor.
“We built a self-service process that placed the customer in charge, by allowing them to research, assess product options, and if satisfied, seamlessly proceed to apply through Judo’s online application process. This was achieved while remaining on the Bank’s website at all times, to maximise conversion rate opportunities. Built on GBST’s Equate calculation engine, the tool was designed to be mobile-first, while also ensuring it would be responsive across all devices.”
GBST was tasked with providing an easy-to-understand tool with sufficient information to inform users, while simultaneously maintaining a clean and intuitive interface. This was accomplished by developing two input fields that a user was required to include, for an investment amount and a term period. The calculator then displayed the results of five products in total, one from Judo Bank and four from other relevant financial organisations to compare between.
Other product factors such as rates and conditions of a product could also be compared within the same calculator. This was undertaken using open APIs which enabled GBST to retrieve the latest product information from various financial institutions.
Looking to 2022, the GBST Digital team are excited to work with additional new clients to implement market leading tools and calculators. These can integrate with any open APIs or product feeds and are easily extended to compare other financial products such as loan or superannuation fund products.
The GBST Digital team works with financial services clients worldwide to improve brand reputation, build brand advocacy, and enhance online customer journeys, engagement, and drive acquisition. GBST’s customer experience experts create bespoke digital solutions for financial institutions from calculators to portals, apps, content management systems, and more.