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.
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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.
How could finance companies upgrade their banking ecosystem to a mobile banking Super App using 10 Fintech trends?
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How Fintechs and progressively thinking financial brands uncover amazing possibilities by implementing the power of UX not only into app development, but also into a company's DNA.
There's no doubt that AR, VR and mixed reality 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?
What does it take to create a banking app that bonds clients and financial institutions? How does user experience in digital banking determine whether there will be a long-lasting relationship between financial brands and their customers? UX strategist, UXDA CEO Alex Kreger provides answers.