Chase Bank:
Student LifeSaver

Product Design & Campaign

Brief: 

Chase were releasing a new Student Account offering. I was asked by the Chase commerical team to map out the product proposition and come up with a campaign to acquire new customers.

Student Pain Points:

• Most students run out of money at different times

• 75% expressed concern over accumulating debt levels (Universities UK)

• Struggle budgeting - fluctuating income, cost of living fluctuations, impulsive spending, expenses unclear, independent of parents for first time

Product USP:

The ‘Student LifeSaver’ account offers students the chance to cash in an emergency £100 when they most need it (e.g. at the end of term).

Product Proposition: Promote budgeting & saving

• Budgeting Help Functionality

• Purchases are rounded up to nearest pound (adds the difference to savings account)

• Customisable Savings Goals (e.g. ‘save for Ibiza’, ‘pay off loan’)

• ‘Activate LifeSaver’ and ‘Feeling Flush’ (transfer to savings) buttons could be built into internet banking platforms for gamification and shareability. 

‘Need these shoes! *Activates LifeSaver’.

Campaign:

Presents relatable student ‘skint’ or ‘broke’ situations - e.g. Someone in a fancy dress chicken outfit standing in the rain (needing a cab), someone sitting on the sofa looking hungry & angry, because the friends either side of them have got a pizza delivery.

Campaign would run on A Level Results Day, Freshers Week and ramp up towards the end of each term (when student loan payments running low).