User Experience (UX) in banking is about human feelings, impressions and behaviours while using banking digital interfaces. For my UXDA agency the aim of banking UX engineering is to create financial services that matches users’ needs with banking capabilities and are easy and pleasant to use. So, let’s outline some general Do’s and Don’t’s in banking UX for 2017 and reveal how UX can help banks to enhance their customer involvement next year.
Banking UX Design Do’s for 2017
- 1. Banks should talk to their users, research their financial behaviours and collect all possible feedback (including negative) to find real pain points when interacting with digital banking solutions.
- 2. It is finally the right moment for banks to simplify everything and offer digital solutions to make their services clear, obvious and intuitive for their users. Perhaps this is the most difficult task of all because of the need to overcome existing internal politics and an organizational culture.
- 3. Let’s bring more pleasure and fun to finance by delighting users with emotions that banking services can provide through light design and smooth flow. Let’s implement design thinking into all bank levels.
- 4. It’s time to look around. The world is moving fast, and rapidly growing technology startups can share some outstanding UX design insights and case studies. Banks should find out what inspires their users and be open to digital challenges and changes.
- 5. Banking services could look more authentic if banks would add soul to it. It sounds provocative, but finance doesn’t have to be so formal. We all know that digital solutions will reinvent it and make it more human-centric. Challenger banks are already unafraid to show their passion inserving their clients.
Banking UX Design Don’t’s for 2017
- 1. Don’t underestimate the power of UX design in a modern world. Today, consumers are constantly searching for pleasant experiences. Their expectations are rising, and they could easily switch to a more active and caring provider regardless of its size and experience. Consider the success of the iPhone versus the fall of the Nokia.
- 2. Don’t be afraid of digital technologies; just start from a simple solution that will enrich your customer experiences and match their needs. Iterate and move forward step-by-step by implementing new solutions.
- 3. Don’t be too confident in the quality of your banking services. Instead, step into your customers’ shoes and look at the big picture, even if it hurts. Your previous decades of success means nothing in the eyes of modern customers; they only care about their actual experience.
- 4. Don’t over-complicate and over-featurize your digital solution; users are freaked out by information overload. Make your information architecture contextual; every feature is in the right place and in the right time. Follow the progressive learning curve principle.
- 5. Don’t manipulate users through conversion rate optimization and UX engineering; use them only to bring fair value to your customers. It’s not about marketing anymore. Your customers are waiting for real value from your service. Give it to them; make their lives easier.
Main Banking UX Design Trends for 2017
- 1. Every bank will need UX strategy
It’s not enough to create usable interfaces to ensure user-centered approaches in your banking service delivery. Banks need to understand what kind of experience they want to ensure at every touch point of digital interaction with their users. Every member of the banking team has to perform this strategy and provide user-centric approaches to promote an excellent user experience. - 2. Financial psychology will be in demand
Nowadays, a lot of banks already believe in the power of user testing and user research. This is awesome, but it’s not enough. A/B testing and customer feedback from interviews are only a part of the picture. UX specialists must learn human psychology in order to conduct the proper research, ask the right questions and make the correct interpretation of collected data.
Testing button colors and placements could raise conversion for a while, but it will not result in a great user experience. Only by understanding users’ problems, needs, emotions, financial cognitions and financial behaviour on a deeper level will you be able to architect services that your customers are seeking.