Banking and payment industry, however, are very specific because they require more of end-users' attention than, for example, social media apps. In the era where banks and fintechs are looking to become digital-first, UX and UI should become one of the top priorities.
Designing for trust
Currently, banks have the infrastructure and a huge customer base for implementing good user experience and interface for that matter. However, the traditional ones are burdened by a product-centered thinking legacy, but customers seek experiences not products.
Trust is a core communication issue for financial brands today as millions of people rely on their services to live their lives. The value customers place on ease of use can easily outweigh their loyalty to a particular provider. And if financial brands provide good user experience, they are in a great place to build trust.
With apps like Uber, Airbnb, or Facebook, customers are used to supreme digital experiences and expect at least something similar from their banks and payment apps. Removing friction from the customer journey is the most important trend in retail bank in 2018, according to DBR Research. In the same research, Banks responded to this by making the number 1 strategic priority to redesign or enhance the digital experience for the consumer.
Personalized service is another element customers are keen to in a world full of ingenuine diversity. So for example, Aldo, the Canadian footwear brand, is taking massive strides in the area of individualized experiences. In its World Trade Centre store, New York, shoppers are able to pre-select footwear via its app or website before trying it on in store. A text message or email is sent, notifying shoppers of the product's arrival. On entering the store, the shopper sends a push notification to the nearest staff member to notify them that they're ready to be helped.
Here is what Mario Šimić, Senior Digital Designer from Bornfight had to say about the importance of good UX and working with Mercury Processing Services International – now Nets CEE.