In late 2020 Barclays was developing a new retail finance proposition to be launched in 2021. This proposition would allow customers to open a line of credit with which to purchase items from online retailers. While credit lines are not an unfamiliar financial product, integration with a major retailer's checkout process was a new experience for Barclays and many of their customers. This research was therefore commissioned to investigate how customers understood the proposition as well as to test the usability of the end-to-end journey.
In early 2021, Barclays was planning to launch a new repeat use finance product at point of sale for a major retailer. This proposition was an instalment account allowing customers to make purchases using credit and repay via a fixed monthly instalment. This provides the customer with a repeat use credit facility with the benefits of structured payments.
This research, while relatively straightforward had a high-level of impact across the business. The proposition - which has since been launched as the 'Amazon Instalments' payment payment option on Amazon.com - was new to the business and had a lot of senior stakeholder buy-in. Therefore the results had to be carefully played back to highlight key issues while managing stakeholder expectations - especially towards the naming of the proposition which had to this point been internally agreed. As a result of this work, significant changes were made to the copy throughout the journey to make sure the bank was meeting its legal and regulatory requirements in lending and that customers were been serviced with an easy-to-understand user experience overall. And the name of the proposition was changed prior to launch. By managing stakeholders and keeping them involved throughout the research, from observing session to proving input in post-research wash-up sessions they were readily open to taking onboard the results of the research and therefore significant changes could be put forward with minimal friction from stakeholders.