Transforming User Experience In Banking: Here are the strategies winning financial institutions are using to deliver a superior user experience

Executive Summary

Banks must increasingly prioritize delivering a superior customer user experience (UX) over their digital channels. Having a solid design strategy in place that exhibits a deep understanding of the customer can mitigate customer satisfaction risk and improve banks’ competitive standing.

Three Key Questions This Report Will Answer:

• What the benefits of having a strong UX?
• Which design processes and methodologies can UX teams apply?
• Which winning UX design strategies do leading banks employ?

WHAT’S IN THIS REPORT? In this report, we outline the most popular UX design methodologies being deployed across financial institutions (FIs). We then examine UX design strategies employed by nine leading banks to reveal how other financial institutions (FIs) can best capture the UX opportunity. We conducted exclusive interviews with nine major FIs to examine their UX teams in detail, offer insight into their approach to designing UX, and illustrate winning strategies for delivering a superior UX. Their strategies highlight the need to create multidisciplinary teams that place customers' needs and desires at the center of design initiatives, as well as the importance of utilizing a UX design methodology to deliver successful propositions in a timely manner.