What is the banking industry and how is it affected by design?
The banking industry is defined by all the offline and online infrastructure that handles money (cash and cashless), credit, transfers and hundreds of other financial transactions or services.
Today, we all see global digital transformation in banking that digitizes the banking industry. Bank customers prefer to use mobile banking or desktop solutions and minimize their time visiting bank branches. Thousands of branches are closed, and millions of bankers will lose their jobs in the banking industry in the next decade.
The financial industry actively switches to digital products and is disrupted by Fintech solutions. The Fintech industry provides a modern service for banking customers based on the latest technology in the banking industry. Fintech uses User-Centered Design and a UX approach to deliver the best possible solutions for users worldwide.
The banking sector must integrate a design approach and user centricity deep into its operational and strategy model to compete with Fintech for the digital future.
Check out the best articles by UXDA about the banking industry and the power of design.
Banks Are Losing Customers Because of These UX Mistakes
Capgemini and Efma released their annual Retail Banking Report and there are 3 key findings about banking user experience.
To Survive, Financial Industry Has to Adapt Design Thinking in Banking
Design Thinking is needed to adapt banking services to the new world. In a human-centered economy your service has to be user-centered.
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