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Digital Banking Breakthrough Success Story: From Outdated to Award-winning Core Banking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Digital Banking Breakthrough Success Story: From Outdated to Award-winning Core Banking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Outdated Core Banking System Design Ruins Everything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The impact of an outdated banking back office system is much stronger than it seems at the outset.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

Future Banking Trends: Enable Next-Gen Financial UX

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.

Digital Banking ROI: How Product Design Increases Bank Profits

As the financial industry evolves, digital products will remain central to a bank's identity and perception, making digital product design and UX key elements of banking strategy, brand identity, and profitability.

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 ...

Digital Customer Experience as a Growth Driver for Financial Institutions

As traditional growth levers in financial services converge, Digital Customer Experience (DCX) is emerging as a critical competitive advantage. Digital Customer Experience is now a key growth driver in financial services. This article explores ten ways DCX impacts trust, loyalty, and long-term success.

AR / VR Banking Will Revolutionize The Financial UX

There's no doubt that banking in Metaverse will take the customer experience to a brand new. What can you expect, and what's the best way for the banking industry fully embrace the opportunities of the digital future?

Bank Culture: Transforming Banking Strategy with the UX Matrix

Companies with disruptor culture have the greatest potential. These businesses maximize their chances of success with Value and Design. These elements affect the formation of customer experience within any business. How finance companies can use this knowledge to establish disruptive culture?

UX Case Study: Challenges of Business Banking Transformation

SME owners often face the challenge of adapting business strategy to a highly dynamic environment while simultaneously managing day-to-day financial operations. It's like Formula 1 racers, where only precise and quick decisions can save them from failure.

UX Design Review: What Garanti BBVA Said About UXDA

This is a review collected by Clutch, given by Tevfik Kardelen, the Unit Manager of Garanti BBVA Securities responsible of Digital Channels and Marketing.

The Banking App That Playfully Teaches Kids To Save Money In Order To Save Their Future

Half of the parents don't know how to discuss finances with kids in an understandable and enjoyable way, besides, this leads to conflicts that ruin family relationships. Most banks do not have special products suitable for children's needs and expectations.

ABOUT THE AUTHOR

Alex
Alex, Founder & CEO

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.