With this design conjecture, I set out to create a command center that doesn’t just address subscription management but rather utilizes data to generate greater convenience out of these subscriptions. It creates engagement and incentivizes people to maintain resiliency over their subscriptions.
Though it acts as an overview of the fragmented content you possess, its true purpose lies in the information it provides. “Data tells a story about everyone,” and the same can be said about businesses (Hall, 2024). Here is an opportunity to tell a story within each subscription, whether it’s how busy the store currently is or how much progress you’ve made in your watchlist. Banks have started to construct “value-add ecosystems that cross over into non-financial services” (Sofiykov & Adelman, n.d.). There is potential here for the app to do the same, offering its own form of subscriptions or promoting others to get a cut when someone signs up. “You may not realize that when you purchase a subscription via an app bought in the App Store, ‘Apple takes a 30 per cent cut of that… and 15 per cent… year on year after that’” (Hays & Pepper, 2019).
It also performs as a search engine for the things you already have access to, or where you could find comparable options, like where’s the cheapest ham. Would a bank have timely access to this information to accurately deliver responses about other businesses? There are also some questions surrounding app integration. It enables access to many apps all through one and keeps you logged in, but how does the bank first gain access to these apps?
References
Hall, J. (2024, March 20). Marketing for Financial Institutions: Navigating the Subscription Economy for Enhanced Growth and Engagement. Alkami. https://www.alkami.com/blog/strategies/marketing-for-financial-institutions-navigating-the-subscription-economy-for-enhanced-growth-and-engagement/
Hays, B., & Pepper, F. (2019, February 21). Why the growing subscription economy spells big bucks for business. ABC News. https://www.abc.net.au/news/2019-02-22/the-growing-subscription-economy-spells-big-bucks-for-business/10822420
OpenAI. (2024). ChatGPT (Sept 2024 version) [Large language model]. https://chat.openai.com/chat
Sofiykov, S., & Adelman, G. (n.d.). Three ways financial services are taking inspiration. FT Strategies. https://www.ftstrategies.com/en-gb/insights/three-ways-financial-services-are-taking-inspiration-from-the-subscriptions-world/
