PROJECT BACKGROUND :
The project was done as the ice-breaker project during my master’s in service design at RCA. My team picked Klarna, a BNPL service, to analyse its current functioning and efficacy. After conducting both primary and desk research, followed by a critical analysis of the current issues, we presented a strategy for making Klarna more personal, accessible and strategically generative by introducing an AI assistant, Klarity, which would help people to use the service in a more informed and regulated way.
PROJECT TIMELINE :
1 Month - September 2023
TEAM :
6 RCA Students - Daneeshah, Jill, Parul, Ricky, Tian, Yiran
ROLE :
User research through online survey and ethnography, survey analysis and critique, strategy and design of the improved service, user flows, design concept and visuals, presentation graphics.
LEARNINGS :
New user research methods, methods and metrics to analyse and critique a service, important aspects of a service and it’s ability to serve users appropriately, systemic implications of various touchpoints in a service, service design tools, determining future implications & effects.
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ABOUT KLARNA
Klarna is a BNPL (Buy-now-pay-later) service. In this section, we analysed the factors that have contributed to Klarna's prominence in the global fintech landscape, including its evolution as a multi-faceted service. Moreover, we dive deeper into Klarna's offering, how it works, and how it makes money.
KLARNA'S USER BASE
In this section, we conducted research on Klarna's user base through surveys and online ethnography, and recognised their challenges with the current service. It was observed that with long term usage, the financial security and stability of these users is often compromised.
PROBLEM & OPPORTUNITY
After analysing the main challenges in the service, we identified the core problem and the opportunity of how might we think of a new strategy to improve the service
STRATEGY
To achieve smart decision-making & regulating the usage of Klarna's offering, the strategy proposed was introduction of an AI assistant 'KLARITY'. This assistant would help alter Klarna's recommendations & suggestions tailored for the specific customer, and help the customer spend based on their financial conditions. It would also help the customer use appropriate payment methods to reduce debt as much as possible.
PRODUCT FEATURES & FUTURE SCOPE
In this section we presented the core features of the new strategy, along with the possible limitations and positive future implications of this. This strategy aims to expand Klarna strategy from 'smooth shopping' to 'smart financing' which would be beneficial for both Klarna and its customers in the long run.
