Digital transformation in banking and financial services is the complete digital technology integration into all processes of a financial institution, changing the basics of company operation and the customers they serve.
Digital transformation in banking requires not only adapting new financial technologies, but primarily establishing a cultural switch to ensure a user centered approach in creating digital banking solutions that delight users.
The following are some different digital transformation types:
All of these have a similar roadmap and provide digital transformation risks in banking. If you ignore customers’ expectations and needs for digital banking services, this could decrease demand and ruin transformation. A successful digital banking transformation strategy must be user centered, refocusing the entire organization on delivering maximum value to its customers, thus winning their loyalty and support.
Check out the best articles by UXDA about digital transformation in banking.
Is it possible to improve the customer experience of a financial app in just a few days? Check out our guide with 20 examples that demonstrate how you can skyrocket the user experience of mobile banking solutions using the power of financial UX design.
The sudden crash of the Terra coins Luna and UST has proven to be a very painful lesson for the financial world. People need trustworthy financial services that are stable and won't make people lose their entire life savings in 24 hours.
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?
Never before, it has been so critical to focus on the customers because they are the ones who determine whether the financial service will exist after the COVID-19 crisis.
How can purpose-driven banking save banks from losing millions? The main challenge is how to align banking services and products with a human-centered purpose.
Emotional experience, human-centricity and responsible consumption have become a social trend in today's digital world, even in banking and fintech. People deepen the quality of life through purpose-driven business and mindful living.
What is needed to achieve a breakthrough in the post-pandemic world? Here are 10 digital banking customer experience trends to find the right strategy.
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.
Will AI make customers' lives better than ever before or become dangerous if applied without human eccentricity?
How would you react if your FI spent half a million and 2 years on developing a new app but after launching it, the customer satisfaction decreased? There are 7 non-obvious factors that can either lead you to a digital breakthrough OR completely sabotage it.
The product designers hired for digital banking transformation can either leverage the impact of design and customer experience OR completely sabotage the entire project leading to huge losses not only in terms of money but also customer trust and loyalty.