back to latest articles

Digital Banking Breakthrough Success Story: From Outdated to Award-winning Core Banking

0

Digital Banking Breakthrough Success Story: From Outdated to Award-winning Core Banking

For anyone who knows how the banking back-office system looks like it would be a surprise that something of such complexity can win the Academy award of design - the IF Design Award. There’s a story behind every grand victory and we want to share it with you today.

This is a breakthrough success story about an extraordinary collaboration, or I would even say a partnership, that led to transforming a 15-year core banking solution into a revolutionary, award-winning business asset.

Outdated Core Banking System Design Ruins Everything

There's no secret that the majority of current banking back-office solutions are slow, complex, clumsy and leading the employees to mistakes instead of helping to avoid them.

The impact of an outdated banking back office system is much stronger than it seems at the outset. It drastically reduces the speed, quality and value customer service could provide.


10-digital-banking-1665561266.jpg

Transforming a 15-year core banking solution into a revolutionary, award-winning business asset.

A progressively thinking banking software vendor company from Paraguay ITTI Digital, had spotted these pain points and embarked on a journey toward improving the beating heart of banking.

They turned to my team after trying to make their company user-centered on their own. They had heard a lot about user experience and Design thinking, but the efforts to make it work weren't successful.

There was something missing that they couldn't figure out. The team felt skeptical of the possibility of combining back-office functionality and security measures with user-centricity and delightful design.

ITTI Digital realized that it’s not only about interface design or product features, which is why they decided to trust the financial design approach developed by UXDA.

uxda-process-cx-ux-methodology-approach-remarkable-financial-service-1665561373.jpg

Customer-Centered Core Banking That Allows to Expand Globally

We had a 6 month long intense collaboration. The main challenge of ITTI Digital was to disrupt the banking industry by creating a never-before-seen core-banking solution 100% focused on the employees. After half a year, a brand new, industry-first core banking solution was born.

This transformation led to:

  • a dramatic increase in banking's service speed, employee productivity, customer satisfaction;
  • the learning curve of banking employees reduced from several weeks to a few hours;
  • the potential for costly human errors significantly decreased;
  • ITTI Digital gained the opportunity to expand in the global market.
The end result over-delivered on our expectations, not only because it proved the possibility to combine the complex functionality with user centricity in an enjoyable, beautiful and delightful design, but also because we became live witnesses of the huge mindset shift a user-centered thinking creates in our organization.
Hector Ojeda, ITTI Digital Innovation Manager

This core banking system received one of the world's most famous design prizes - the IF Design Award. It was awarded in the Service Design category alongside Apple that was recognized for its digital finance service design of the well-known Apple card.

IF_Design_Award_2020-1666159314.jpg

The international jurors of 78 leading design experts from all over the world recognized this core banking solution UX/UI design for its exceptional transformation embodying a mission to inspire and lead the financial industry to a better future.

This core banking design is so much more than just an appearance; it transforms the daily routines of so many banking employees, as well as the service speed and convenience for the end users of the bank. This is really rewarding. Alex Kreger, CEO of UXDA

UXDA WINS THE WORLD-FAMOUS IF DESIGN AWARD

Of course, it took great courage to embark on this challenging journey. Most banks reveal they are very afraid of making such a huge and revolutionary shift, changing a structure that has been working for decades, but ITTI Digital is living proof that it's 100% worth it. And we are really proud of them!

Read the full step-by-step case study on the huge transformation we went through together with ITTI Digital.

Get UXDA Research-Based White Paper "How to Win the Hearts of Digital Customers":

If you want to create next-gen financial products to receive an exceptional competitive advantage in the digital age, contact us! With the power of financial UX design, we can help you turn your business into a beloved financial brand with a strong emotional connection with your clients, resulting in success, demand, and long-term customer loyalty.

Share:

Listen to our podcast:

More from our blog

How to Evaluate and Hire Digital Agency for Financial Services

Discover how to choose the right fintech designers for your financial company's digital product and secure a digital advantage in the highly competitive financial industry in 2023.

Here's Why Open Banking is the Future of Fintech Experience

Total digitalization has brought changes to the financial industry and the open banking revolution will make UX design crucial in the future.

Could Your Financial App Scare Users Away? Here’s How to Find Out

Too often, financial executives overlook the user experience (UX) of their apps, leading to customer frustration and churn. What if your bank’s app is a UX disaster waiting to happen? Here’s how to find out—and fix it before it’s too late.

UXDA Is One of TOP15 Leading UX Agencies

In its annual study, Washington D.C. based B2B research firm Clutch analyzed the activities and reviews of 121 UX design agencies worldwide and identified TOP15 leading studios of 2017. According to this published research, UXDA design studio is ...

Million Dollar Question: Why Users Reject Easy Banking Solutions

Why do users sometimes still put up with complex banking services, even though they might have experienced an alternative that's much more easy and user-friendly?

UX Case Study: Applying ChatGPT Alike Generative AI in Banking

ChatGPT in banking could fuel new types of products, more personalized and more connected to users, so this case study explores actual experience with conversational banking design. LivePerson approached UXDA with a mission to infuse love into finance through an innovative banking app.

UXDA's Journey Through FinovateEurope 2019

UXDA stepped on the Finovate Europe 2019 stage in London beside other world's leading finance innovators and influencers to demonstrate which direction the financial industry is heading to.

UX Design Review: What Private Wealth Systems Said About UXDA

This is a Clutch review recap of the wealth management platform for UHNWI experience UXDA designed for the Private Wealth Systems.

UXDA Awarded at the World's Largest Design Competition - A'Design Award

UXDA has become the Silver A'Design Award winner at the world’s largest and one of the most influential design competitions, gathering designers from more than 100 countries.

ABOUT THE AUTHOR

Alex
Alex, Founder/ CEO/ UX Strategist

Alex has dedicated half of his life to studying human psychology, as well as business success, developing 100+ digital projects and 30+ startups. He spent 10 years researching UX and finance to create UXDA's methodology. Alex is a passionate visionary who's capable of solving any challenge to improve the financial industry.