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first direct embraces crowdsourcing for product co-creation

2nd Aug 2011
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Online and telephone bank first direct has launched a new online platform that will enable customers to co-create the bank’s future products and services.

Launched this week, first direct Lab is a crowdsourcing platform that will be updated with content every month including product designs, service innovations and website concepts. Users are able to rate the content through a comment facility and forum, with the responses fed back into the product and service teams.
At launch, the content will include concepts for a website re-design, a consultation on the use of QR codes and an early version of a mortgage comparison smartphone app.
Paul Say, first direct's head of marketing, said: "We're constantly looking at new ways of communicating with customers and the public, and the first direct Lab is a natural progression for us. We want people to inform our offering and in doing so help us serve them better.
"This is about changing the way people interact with banks by giving them a stake in some of the products and services that allow them to manage their personal finances."
The project, first announced last October, is one of many social initiatives that first direct has been working on as it looks to put itself at the forefront of social media adoption in the banking sector.
Other initiatives include ‘live’, an aggregation tool pulling in mentions of the brand from across five million social media sites, and 'Little Black Book'; where customers can share positive experiences about anything other than banking. It also has an online forum Talking Point; where a dedicated team respond to customer service comments and queries and its social media newsroom.

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