Many banks believe that packing their apps with countless features and the latest technology will attract and retain users. However, this approach often results in the opposite effect, driving users away due to overwhelming complexity.
These principles enhance user experience, ensure products are efficient and engaging and align with business goals. By applying these design concepts, financial product owners can create user-friendly, intuitive, next-gen digital services that empathize with users, organize content logically and design accessible, visually appealing interactions.
Integrating AI into banking services will obviously revolutionize the user experience in financial services, offering real-time advice and 24/7 transaction monitoring. The main question is which AI will serve banking first ─ on-device AI or cloud-based AI? Let’s compare!
Let's explore the psychology of financial and banking product users by looking into their minds, behaviours and main aspects of why certain products are disliked while others are desired.
Digital transformation in banking refers to the comprehensive integration of digital technology into all areas of banking, fundamentally changing how banks operate and deliver value to customers.
There is another promising area of AI use for financial brands ─ marketing and brand communication. The UXDA team assessed the potential of humanizing financial brands using ChatGPT and Midjourney by creating digital mascots based on the mobile service interface.
Apple Vision Pro could start the next digital revolution. Wizards from Cupertino offer a mind-blowing spatial experience on the visionOS platform. But how could spatial banking feel and look?
Future Banking Trends include technologies such as Generative AI, the metaverse, the blockchain, embedded banking, DeFi with CBDCs, and open banking which are creating the next-gen financial UX.
Knowing Elon Musk's large-scale approach, his intention to turn X into a bank could have disruptive consequences for the banking industry. However, the conflict between the existing UX patterns of a social network and the implementation of financial functions can complicate the transformation.
Today's consumers seek seamless, intuitive and emotionally resonant interactions with their financial institutions. We offer ten examples of how financial products can be transformed to exceed expectations and create an emotional connection through a stunning UX design by UXDA.