What is digital transformation in banking and how could UX design help?
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:
- Digital transformation in retail banking
- Digital transformation in commercial banking
- Digital transformation in investment banking
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.
Why Customer Experience in Financial Services is Sabotaged
What leads to a bad outcome when it comes to customer experience design in financial services?
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?
Bonding Digital Banking Brands and Customers through Financial UX Design
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.
Digital Banking Breakthrough Success Story: From Outdated to Award-winning Core Banking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.
Provide Maximum Value to Digital Customers in Finance
How can financial companies survive the GAFA attack and ensure a successful digital transformation while it's not too late? The only way to avoid losing clients is to focus sharply on the value financial product provides to the customers.
UXDA On The Banking Transformed Podcast By Jim Marous
On the Banking Transformed podcast by the world's TOP 3 influencer Jim Marous UXDA CEO Alex Kreger and Inspiration officer Monika discusses how organizations can use design thinking and improve internal processes, develop better products and services, and enhance the digital consumer experience.
UX Design Success Story: Shaping the business mentality
UXDA review by ITTI Digital for which UXDA delivered a UX transformation of a 15-year old core banking solution.
Underestimated Power of Design in Banking Digital Transformation
There's a great misconception about digital products that not a lot of people are aware of - design is NOT a matter of how your product looks like, it is about what your customer feels, the emotions.
Bank Digital Transformation Strategy Depends on Mindset
We are witnessing how digital technology disrupts the financial industry. Placing the focus on customer expectations and behavior completely changes the rules of the game ─ something that new technology implementation is not achieving for everyone. Why?
UX Case Study: User Experience Design of Online Banking
Legendary case study on the UXDA's vision of Future Banking has collected over 100K reads and reveals the main stages of financial UX design.
Banking Innovation: 5 Traits of Digital Disruption in Banking Industry
In 2018 Apple became the world's first trillion-dollar company, and Nokia failed. How this could explain digital disruption in banking?
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