UMIO/Innovate tailored a design thinking sprint for SPIN to effectively tackle a challenge that existed within IBM/SPIN for over a decade.
Situation
For over a decade, The IBM Foundation (SPIN) which manages the employee Pension Fund attempted countless initiatives to spike interest and engagement, but without avail. This was based on a significant lack of interest from IBM employees to engage with SPIN.
To get to the underlying issues we conducted in-depth interviews across employee segments. Revealing a completely different picture than expected. Across segments, there was active interest in financial planning, but almost entirely outside of the IBM Pension Fund environment. In addition to interviews, we spoke to leading industry experts to verify our findings.
All key findings were eventually actioned, as part of our core concept.
Solution
IBM/SPIN become the game changers of the future. With today’s depth of expertise and technology we can monitor and track customers performance in ways we never imagined possible before. As game changers we are the key between our consumers and their personal wholistic financial wellbeing. IBM/SPIN are the Nike+ of financial wellbeing.
The transition
SPIN’s focus needs to shift.
From Pension (restricted) to Wholistic Financial Wellbeing (customer centred & empowering)
So instead of only servicing employees, right before retirement, we’re going to forge an active relationship throughout different life stages of our employees.
IBM/SPIN believe in the accumulative effect of financial wellbeing.
The pitch
The solution was pitched to key Board Members and key Stakeholders within the organisation in the Spring of 2023. This presentation received great support and it was decided to implement this concept.
Next steps
The first step is to gain unanimous support from the Executive Board. This will be based on a Risk Analysis report that is being finalised in 2023.
IBM/SPIN is going to build expertise and partnerships in financial areas that compliment its current offering.
Ultimately, the core of this platform evolves around a newly created digital application. It is being explored to build this in collaboration with IBM Global, Deloitte & PwC who’re dealing with the same challenges.
Based on IBM being a best-in-class employer, employees will be offered support to gain deep financial insight, both work-related and privately. So that all employees are mentally and emotionally empowered.
Brand story
IBM/SPIN is driven by one desire: Financial Wellbeing for its people. By ‘its people’ we mean everyone who believes in the value of being their best version of themselves. The explorer, the adventurer, the dreamer, the working father or the pragmatic professional.
We’ve redesigned ourselves to inspire support you with a lifestyle based on the principle of The Accumulative Effect of Financial Wellbeing.
Because the more you let us assist you, the more you’ll shine.
We put our expertise into use by encouraging the ‘whole’ of your financial life cycle from key aspects; saving, borrowing, investing, tax planning and capital management.
In short, we’re for those that want to shine inside and out. Most likely, that also means you, dear reader.