What is bank innovation through UX design?
The digital age requires a new way of operating and thinking from the financial industry. And, this is not possible without innovation in banking services. We could define bank innovation as using new technology and service processes to provide solutions that better serve customer and business requirements, meet their needs (often unarticulated) and move the market to the next level of development.
Today, we hear a lot about digital banking innovation, because digital technology transforms the way that banks operate. Banking digitization leads to the closing of bank branches, focusing instead on online channels: mobile banking, wearable banking, desktop banking and, in the near future, conversational and virtual and augmented reality banking. In general, Fintech innovation is the only way to move banking into the future.
The main question is how to best provide innovation in banking services. It is not enough to buy or develop innovative banking solutions for long-term success because the digital age requires not just new technology, but innovative banking ideas that will help banks to meet customer needs. This is what banks can learn from innovative Fintech products in the banking sector.
In other words, in the digital age, financial innovations start with the users, not technology.
Check out the best UXDA articles about bank innovation.
Financial Services In The Metaverse: The Glue For A Creative Economy
The metaverse will become the next global milestone after the digital transformation in the next few decades.
Big Tech or Big Curse on the Banking Experience?
As part of global digitalization, Big Tech is using its power and resources to expand into the financial industry, but only a diversity of financial alternatives and healthy competition will ensure a customer-centric development in the financial industry.
UX Case Study: Metaverse Banking VR / AR Design Concept of the Future
The first metaverse banking UX concept that includes virtual reality banking, augmented reality banking, tablet, desktop, wearable and mobile banking.
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.
UXDA's Journey Through FinovateEurope 2019
UXDA stepped on the Finovate Europe 2019 stage in London beside other world's leading finance innovators and influencers to demonstrate which direction the financial industry is heading to.
UXDA One of the Leading Companies at the Export and Innovation Awards
UXDA is honored to become the first UX Design Agency recognized by Investment and Development Agency of Latvia, the Ministry of Economics, and the President of Latvia as one of the leading companies.
UXDA is Presenting at Finovate Europe
UXDA is selected to demo at the FinovateEurope 2019 conference in London. Previously organizations such as Google, Capital One, Apple, American Banker, Barclays, Business Insider, CNBC, Deloitte, Ernst & Young, Forbes, JP Morgan Chase have attended.
Innovations in Banking Industry VS User Experience: Blockchain, Open Banking and AI
Finance has always been quite conservative but it hasn’t missed out on technological progress. Due to the development of technologies, banks are becoming separated from their customers. According to research, 40% of American bank customers don’t go to...
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?
How to Find the Magic Button to Create Digital Banking Innovation
This year, 413 European companies were nominated for European FinTech Awards TOP100 and UXDA entered TOP3 in category of Digital banking Innovation.
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