UX means user experience. So, the financial UX design definition is about engineering and designing digital financial solutions by focusing on the user experience they provide to their customers. Financial UX design practitioners believe that success of digital products in the banking industry depends on customers. That is why they use a range of user centered methods to create digital user interfaces (UI) that meet customers’ needs, and help to solve their tasks in the most simple and intuitive way.
The financial UX design cannot be separated from the financial UI design because those are the two parts of the same process: service design of financial products. The financial user experience is a part of the financial customer experience. Customer experience includes all the touch points in which the customer interacts with the financial institution, but user experience is limited only to digital solutions that are used by customers. That is why the financial benefit of improving the customer experience could be huge, and should be taken into account when planning financial UX design transformation.
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