Banking Digital Transformation

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.