User Experience Trends in Banking

UX Trends in Banking | August 3, 2011 | @wrvl

IN ONLINE BANKING 2011

WESSEL VAN LEEUWEN

UX TRENDS

Our latest white paper is available for download athttp://banking.backbase.com/adv/ux-whitepaper.php

Retail Banks have a greatly overlapping portfolio.

What makes a bank stand out?

User Experience

A NEGATIVE EXPERIENCE WITH A ROUTINE TASK CAN HAVE BIG IMPACT

vimeo.com/19131028

http://experiencematters.wordpress.com/2010/01/11/forrester’s-2010-customer-experience-rankings/

Banking: 7th

position in

Customer

Experience

Customers expect superior

experiencesImage from: flipboard

The ROI of User Experience with Dr. Susan Weinschenk http://www.youtube.com/watch?v=O94kYyzqvTc

WHY USER EXPERIENCE?

Poor usability…

= (-) emotion

= (+) confusion (+) frustration

= (-) association (+) memory creation

= (+) abandonment (+) no return

BANKING: THE TOP 5 TRENDS

#1TREND

UX COMPETENCE ON THE RISE

http://uxleadership.com/2010/06/a-company-ux-maturity-model/

UX MATURITY MODEL

HYGIENE

STRATEGY

HYGIENE

http://www.flickr.com/photos/25153616@N00/47123903

HOW HYGIENE WORKS

Users can accept some issues, but the negative experience accumulates

Usability issues

Time of usage

Inefficiency line (waiting, crankyness)

Neutral expectations line

Frustration line (irritation, insatisfaction)

Failure line( Abandonment)

Time per interaction (efficiency)

AROUND GOLIVE: HYGIENE

UX sweeps

UX MATURITY: STRATEGY

http://www.flickr.com/photos/24099890@N05/2331284047

#2TREND

MOBILE BRINGS FOCUS.http://www.flickr.com/photos/mrsikhnet/

2762900177

Desktop surfing

(WHAT IS MOBILE, ANYWAY?)

Couch surfing

1 eye, 1 thumb surfing

Constraints screen size speed context scattered attention

“MOBILE FIRST”

= focus

Luke Wroblewski:

Web products should be designed for mobile first

(even if no mobile version is planned)

Shamelessly stolen from Luke Wroblewski, mobilism 2011

MANTRA: MOBILE FIRST

#3TREND

THE NATIVE APPS TRAP

Customers need ubiquityBut how can you support all operating systems and devices?

NATIVE APPS ARE MOVING TO WEB APPS

The web app The Native app

The solution: Widgets & HTML 5Widgets can contain any application and are reusable, This makes widgets the best solution for the mobile challenge, for both the web and native apps.

WIDGETS / HTML 5

BANKING WEBSITESOCIAL NETWORKS FRONT OFFICE UNIFIED

DESKTOP

Creating a mobile web-app with Widgets & HTML 5For most mobile scenarios access to local functionality andhardware is not necessary.

HTML 5 APP

No App store

Ltd Local Cache

Ltd Geo Location

No Vibration

No Camera

No Sound

The hybrid solution: the Native App WrapperBest of both worlds, as long as the browsers are lacking in features. Access to local functionality and hardware. Ability to publishin the Apple App Store or Android Market.

HTML 5 APP

With App store

With Local Cache

With Geo Location

With Vibration

With Camera

With Sound

Native App Wrapper

#4TREND

EVERYBODY WANTS PERSO-NAL FINANCE MANAGEMENT

http://www.flickr.com/photos/bubazzo/3237768298

EXAMPLES OF CURRENT BANK PFM(automated) tagging

Account aggregation

budgets

Saving goals

Forecasting

Social benchmarking

EXAMPLES OF CURRENT BANK PFM

Local research for viability of a PFM (TNS FINANCE):75% uses IB to keep track of expenses

63% of young families wonders where the money goes

45% has savings goals

50% likes to benchmark expense patterns

40% is likely to use a PFM

http://cdn.pressdoc.com/7221/documents/1711-1281968341-Onderzoeksresultaten_Persoonlijke_financien_-_inzicht_en_overzicht.pdf

BANK CUSTOMER INTEREST IN PFM

- Customers want it.- Banks want it.- Customers want their bank to have it.- It exists out there.

…So where are the PFM’s?

#5TREND

OPEN AND CLOSED ENVIRONMENTS ARE MERGING

http://www.flickr.com/photos/darrenwoolridge/4699664505/

THE OPEN AND THE CLOSED ENVIRONMENT:THE UNHAPPY MARRIAGE

WE LOVE TRANSACTIONS

- 86% of the visits goes straight to IB

- checking balance and quick payments: users are shifting from desktop to their phone apps

Towards Seamless user journeys(from anonymous to personal)

The (social) web

Close to my life

Bank public environment

Bank personal environment

JOURNEYS FROM OPEN TO CLOSED

Bank transactions

Close to Bank’s core business

EMERGING ‘SEAMLESS’ PATTERNS

Personal stuff

Public stuff

TRENDS: SUMMARY1 UX competence on the rise2 Mobile brings focus3 The native apps trap4 Everybody wants PFM5 Open and closed are merging

UX PRINCIPLES

Design principles are the guiding lights that you design with.

These are the things you base decisions on, vet any ideas against and inspire your designs.

Understand your audience and intent#1

PRINCIPLE

USER CENTERED DESIGN IN PRACTICE1 Persona2 Life event they are facing3 Goals they have 4 Happy flow to get there5 Alternative scenarios to get there

Use Visual Hierarchy to guide the eye.#2

PRINCIPLE

NOT SO GOOD VISUAL HIERARCHY…

Central bank of russia

GOOD VISUAL HIERARCHY

UNCLEAR PATH TO COMPLETION…

Luke Wroblewski,

CLEAR PATH TO COMPLETION.

Luke Wroblewski,

Think about progressive disclosure#3

PRINCIPLE

DIFFERENT NEEDS FOR DIFFERENT LEVELS OF EXPERTISE

Beginning user Intermediate user

Advanced user

Beginning user

WHAT ARE THE COMMON QUESTIONS?

Intermediate user

Advanced user

• What’s going on here?• What’s in it for me?• How does it work?

• I know it is exists, …but where?

• How did I do this again…?

• Can I use a shortcut?• Can I personalize?• Can I work faster?

UI PERSONALIZATION: ADVANCED USERS

Understand Customer Engagement#4

PRINCIPLE

People are real.People want a relationship that works best for them.

People rely on trust.People only do business with credible partners.

People communicate.People share stuff about themselves, and expect the same in return.

People have a life.Don’t waste their time with irrelevant messages. Engage with messages that relate to them.

People don’t forget.They want a memorable time they can treasure and SHARE.

Plan a little – prototype the rest#5

PRINCIPLE

PROTOTYPING CAN BE EASY.

- Keynotopia is great.- 5 users is enough- Test with simple tasks (‘change the payment alert)

Designers: go with the flow#6

PRINCIPLE

THINK IN BREAKPOINTS

0px 600px 900px We have no idea

SEPARATE LAYOUTS PER BREAK POINT

0px 600px 900px We have no idea

Structured content firstFluid layouts

PRINCIPLES: SUMMARY FOR BANKING PROJECTS

1 Understand your audience and intent2 Use Visual Hierarchy.3 Think about progressive disclosure4 Understand customer engagement5 Plan a little, prototype the rest6 Designers: go with the flow

Thanks.WESSEL VAN LEEUWEN | wessel@backbase.com | @wrvl | +316 41 1853 41

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