{"id":7846,"date":"2022-08-09T12:00:00","date_gmt":"2022-08-09T04:00:00","guid":{"rendered":"https:\/\/infopro.com.my\/staging2\/%e6%9c%aa%e5%88%86%e7%b1%bb\/%e6%94%b9%e5%8f%98%e6%95%b0%e5%ad%97%e9%93%b6%e8%a1%8c%e7%9a%84%e6%9c%80%e6%96%b0%e7%94%a8%e6%88%b7%e4%bd%93%e9%aa%8c%e8%ae%be%e8%ae%a1%e8%b6%8b%e5%8a%bf\/"},"modified":"2024-05-08T09:25:44","modified_gmt":"2024-05-08T01:25:44","slug":"the-latest-ux-design-trends-to-transform-digital-banking","status":"publish","type":"post","link":"https:\/\/www.infopro.com.my\/zh-hans\/%e6%96%87%e7%ab%a0\/the-latest-ux-design-trends-to-transform-digital-banking\/","title":{"rendered":"The Latest UX Design Trends to Transform Digital Banking"},"content":{"rendered":"\t\t
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As the global market rapidly shifts towards digitization, so is the financial industry. Banks worldwide has come to the crucial realization of how vital digital transformation can be, and they are leveraging on user experience (UX) design to gain a larger market share.<\/p>

Though recent data showcases over\u00a097% of financial institutions<\/a>\u00a0(FIs) are taking the bold steps needed to digitize their services, many incumbent banks in the Asia Pacific are yet to completely transform their user interface.<\/p>

FIs are still currently running on their decades-old systems, one that is already mature and tested. These systems pose a huge risk in being overly outdated, especially when it comes to providing top-tier customer experience.<\/p>

Why should banks care about UX design trends?<\/strong><\/h2>

UX, which stands for User Experience, plays a pivotal role in not only acquiring new customers, but also retaining them. Though research has shown that mobile banking apps usage has surged globally, over\u00a058% consumers<\/a>\u00a0still find online banking content to be too complex.<\/p>

This calls for more attention in banks\u2019 UX design, as it is one of the key components in smooth customer experience. Additionally, with every $1 that a company invests in user interface design, the return of investment will be\u00a0ten times higher<\/a>\u00a0\u2013 which brings about $100 to the business\u2019 revenue.<\/p>

Overlooking UX design can lead to a significant decline of brand presence, customers, and inevitably, profit. In order to stay ahead of the curve, FIs need to carefully reconsider their UX design and modernize their user interface to capture the peak of users\u2019 attention.<\/p>

Latest UX design trends \u2013 How banks can innovate and adapt<\/span><\/h3>

1<\/span>.\u00a0Utilizing Machine Learning to bridge the gaps<\/span><\/p>

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Machine Learning<\/figcaption><\/figure><\/div>

Integrating Machine Learning (ML) with UX design is a strategic solution already implemented by many FIs. Ultimately, ML enables a seamless digital journey for customers due to its many functions, allowing a more personalized experience for each customer.<\/p>

With ML, banks can offer more diversified range of services and offerings, gain access to critical data (such as spending patterns), and solve customer support issues more efficiently. ML can also assist FIs in automating many crucial processes such as saving decisions, credit scoring and product recommendations.<\/p>

As ML is equipped with precise analytical and predictive capabilities, it can also be utilized as a personal financial assistant for customers, offering custom financial planning and advices.<\/p>

2<\/span>.\u00a0Gamification\u00a0<\/span><\/p>

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Though the general opinion believes that gamification and the banking industry do not go hand in hand, this misconception could not be further from the truth. Many banks are now considering to incorporate gamification into their mobile apps as part of their strategy to captivate their customers in using their product offerings.<\/p>

Game-driven UX designs not only can encourage longer time spent on the banks\u2019 apps and website, but also has the potential to become the company\u2019s competitive advantage as this innovative strategy is considered uncommon still.<\/p>

3.<\/span>\u00a0High level personalization<\/span><\/p>

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In acquiring new customers, FIs first need to realize their biggest potential market \u2013 Millennials and Gen Zs. As they are set to become the most lucrative customer group within the next decade, it is imperative for banks to accommodate their UX design to these consumers\u2019 expectations and preferences.<\/p>

Both Millennials and Gen Zs are known to favor high level of personalization. Designs that include vector illustrations, gradients, and simplified generally tend to go well. Even adding as much as a \u2018Dark Mode\u2019 or personalized dashboard to the mobile banking app can do wonders. The more customer-centric it is, the more it is likely to attract the right audience.<\/p>

4<\/span>.\u00a0Data visualization<\/span><\/p>

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Financial management can be quite overwhelming for some customers. To overcome this and ensuring high rates of retention, FIs should adopt data visualization as part of their UX design. This particular design trend functions as a tool to transform the customer journey to become more visually pleasing, comprehensible and intriguing.<\/p>

One of the most prominent ways FIs can do this is to include bar charts, line charts and pie charts into their web design. Simple geometric shapes combined with vibrant colors can help retain the audience\u2019s attention and allowing them a more enjoyable customer experience.<\/p>

5.<\/span>\u00a0Contextual UX approaches<\/span><\/p>

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Implementing a contextual experience for customers can enhance the individual\u2019s unique needs being timely met. With contextual UX design, FIs can solve the customers\u2019 problems without using the standardized path, bringing them quick and precise solutions.<\/p>

Samples of contextual UX designs in banking would include; alerting customers on important tasks that requires their attention, providing suggestions to improve their financial health, understanding the users\u2019 goals and providing them with accurate financial forecasts.<\/p>

Thriving in the future with INFOPRO<\/span><\/h4>

It goes without saying that banks should start investing on the latest UX design trends to stay ahead of their competitors. In leveraging UX design, FIs can fully realize their digital capability and maximize their market share.<\/p>

Fret not, INFOPRO is here to assist. Our team of experts are more than capable to help banks reach beyond their goals, carry out market research, and provide accurate business analytics to make the most of their digital transformation.<\/p>

INFOPRO offers more than 50 product offerings, solutions and services that can be altered to suit every business model.\u00a0Contact us<\/a>\u00a0for more information.<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

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