RenderMonkey was asked to lead technology and user experience of the NYC Citi Innovation Lab after participating in a 2-week, by invitation retreat. The gathering brought together 20 individuals comprised of strategists, financial leaders, designers and creatives focused on the “Bank of the Future”,  technology, services and customer experience.

Building the Innovation Lab

Part of a network of global innovation labs, the NYC lab was in its infancy when we joined. Starting from the ground up, we helped define the lab’s innovation strategy, mission, selection criteria, approach to innovation and hired the data science and user experience team.

To foster creativity, the lab hosted industry expert workshops and held team inspirational share-outs. We aimed to create a supportive space with a “yes, and…” approach, where the team could flourish. Working closely with our partner lab in Singapore, we helped them adapt many of the NYC operations and structures to their lab. 

Defining the Processes

We championed Lean UX best practices and Design Thinking methodologies to build a collaborative environment focused on creating best of class products that took advantage of Citi’s years of expertise and large customer base. We co-created with business partners and encouraged divergent thinking while always ensuring we were building with the customer in mind.

Envisioning New Products & Services

Through workshops, we uncovered unmet user needs and ideated on product concepts. We quickly tested and prototyped to validate/invalidate, and iterate or pivot as necessary.

Our work in the lab explored emerging technologies such as AI, Machine Learning, IoT and Blockchain. The business cases and creative solutions we developed, based upon our extensive user research, were well-received and funded by internal investors.