B of A Banks on IDEO


If you’ll recall, we’re big fans of the firm IDEO (as are some former Dwell staffers), so it was nice bumping into this story today over at AdvertisingLab, “Advertising Through Product Design,” wherein they talk about Bank of America hiring the firm, which usually handles product design, to create their “Keep the Change” service (where the bank rounds off the change from any purchase to the lesser, solid dollar amount). As quoted on the site, here’s what IDEO reported:

“In less than one year, it attracted 2.5 million customers, translating into more than 700,000 new checking accounts and one million new savings accounts for Bank of America. Impressed by the unique and intuitive nature of the program, 99% of its subscribers have chosen to keep the service — along with their change.”