User Experience Trends in Banking

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Wessel van Leeuwen presenting User Experience Trends in Banking. Sharing the Top 5 trends in online banking and user experience design as well as the top 5 UX principles.

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  • So that is the fate of the User Experience Designer :The better the user experience, the less it gets noticed!I’d love to invite you to watch the video ‘ I love UX design’ on vimeo, unfortunately I am not able to play it in the webinar.It portraits the UX designer from a behavioral perspective.
  • … but enough about the fate of the UX Designer.according to the customer experience index by forrester (2010), The banking industry scores about average in terms of user experience. retailers take the prize.This implies, that in general, customers have expectations that are up there with the retailer’s websites.That is probably higher than most banks can meet.
  • Customers expectsuerior experiences.User experience is not a nice-to-have.And The ‘online experience’, the web User Interface is likely to be the ONLY interaction a large corporate will ever have with a customer.the main touch point for banks with their customers is the user interface … so better take good care of it!
  • User Experience design pays off:There are numerous reports that show a relation between investing in UX and increased turn over.I won’t get in to this topic right now, but do check out Human Factors International if it interests you.HFI Video - The ROI of User Experience with Dr. Susan Weinschenk http://www.youtube.com/watch?v=O94kYyzqvTc
  • So – why user experience?Users are humans. There is no average user. And: businesses do notsitbehind a computer, humans do.Andtheyhave emotionsaboutusingyour site.>>Sothereyou have it: a hard connectionbetween a human’semotionandyourprofits!!How do we
  • This might have to do with the “ux maturity” of companies.Nurit Peres made an interesting model trying to pinpoint the organizational UX maturity. At the bottom: organisations that view UX designers as problem solvers (“how will we present all this information in a understandable way?”). That is more UX as hygiene.>Then higher up in the ladder, ux is in the DNA of product development and there is more of a interwoven processAnd in the top, are the companies where UX strategy is part of their business vision (“what is our next product?”) >Nb: Jakobnielsen made a similar model, from initial hostility towards usability, to widespread reliance on user research.
  • UX hygiene is always needed.Users expect a minimum level of usability. The hygiene factor needs to be taken into account, or customers walk.A constant guard is needed.When the online presence is growing, different teams are working on the presentation layer, and you see new patterns emerge everywhere. At some point, the interaction patterns, become scattered and need clean up
  • Companies that are a bit higher up in the ux maturity ladder, can focus on ux strategy.attention can now shift to Service oriented design, and ultimately, that uniqueness – the wow factor, or the delight factor as Apple calls it.Now pick your battles, and define upfront what aspect or what scenario of your online presence needs to become the best of its class.This is the differentiator in UX that we talked about.So to sum up, we see companies at different levels of ux maturity, but for sure the importance of user exp design is getting more and more recognized and mateialized.
  • Everything is becoming mobile, it is good to mentally categorize it in three different types.(btw, don’t even think about how that picture was taken)
  • The whole mobile thing has big impact on UX design. The trend is summarized with Eric Schmidt’s mantra ‘mobile first’. Luke Wroblewski, a brilliant UX designer, has picked up on this and gave a great presentation here in amsterdam recently.Now you know the drill,Screen resulution is typically lower, but more importantly, the physical size is smaller.Processing speed and network speed are bottlenecks.Context like connectivity influences the use.Since people use their mobile devices on the road, they have scattered attention.>The constraints that are put on the design are leading to a better focus on the essence.User experience design for mobile forces you to make choices about what goes in and what goes out.
  • An interesting example is soutwest.comThe site contained a lot of stuff."Going from 1024x768 to 320x480 makes you get rid of 80% of "useful" content on your website.  Most of that stuff is crap anyway!" --Luke W
  • Then, the designed the mobile versionEssence, captured for mobile site.It is a very different navigation model.
  • And now some of the good ideas have influenced back the desktop website, making it easier for users to reach their goals.
  • So to summarize, The trend in UX design is to design for mobile first. and the positive outcomes of this are becoming visible in the bank presence.
  • So the real trap is that the apps were great to improve the user experience, but the efforts to keep all the scattered apps up to date is a pain.There are more and more examples of companies shifting from native apps to web apps, to keep maintenance under control.Here an example of financial times.Other companies are doing the same thing. The web app experience is very very close to the native experience.
  • A lot of banks are starting to have a limited or more fully featured PFM set.>Savings goals, budgets, tagging, aggregation and more social: benchmarking.
  • A few of the big players areMint, meniga, figlo.
  • Plenty of reasearch shows the need for pfms in retail banking as well as business banking.994 respondents
  • So to sum up:Users want it, as indicated by the researchBanks want it, it is a hot topic at the finovate conferenceand we would prefer it to be under the wings of our trusted bank instead of a web service. it is out there, popular web services like mint.com are thrivingSo why is it not available for so many banks?So to sum up: for sure PFM is a trend, and we will see a lot more of it. It is just weird that so far, the outcomes are still scarce.
  • This is what seems to be normal for a lot of corporate banks.Even after being customer for 20 years, customers need to fill in their name and number when the want to order a product online.
  • A dutch bank researched what the most common user journey was in the open and closed environment.Clearly, customers came to the site to do their transactions. If you want a happy marriage between open and closed, you need to start changing your online approach.
  • So banks are looking at ways to make the user journey from anonymous to personal much more seamless.For this you might want to take a step back first and look at the proximity.
  • Some interesting seamless patterns are arising.
  • So there we are, these were the top 5 ux trends I see in banking.
  • UX principles are helpful guides when you are working on your user experience projects.I will only share the top 6 principles I would like to stress in the context of online banking.When working on banking projects, these are the principles that could use some more attention.So lets get started
  • One of the best examples I know of is USAA, that really mapped out life events.Too often, we see that life events pages are just other shortcuts to the product page – that is not what we mean.
  • I always start with the following steps.
  • A great help is to keep the following metaphore in mind.A beginning user, is ANYONE who first enters your site.
  • Here an example of personalizableUis, Page layout, orderWidget catalogcontent
  • Try to find where you can add agile aspects to the projects.Stand ups with business and tech together.Quick mock ups.
  • Designing for all cases and screens is dropped; only the rules of reflow are defined. This means that content blocks or applications are defined, but their position is fluid.
  • Designing for all cases and screens is dropped; only the rules of reflow are defined. This means that content blocks or applications are defined, but their position is fluid.The UX designers only define the rules of reflow and the widgets will
  • So there we are, these were the top 5 ux trends I see in banking.
  • User Experience Trends in Banking

    1. 1. UX TRENDSIN ONLINE BANKING 2011WESSEL VAN LEEUWEN UX Trends in Banking | August 3, 2011 | @wrvl
    2. 2. Our latest white paper isavailable for download athttp://banking.backbase.com/adv/ux-whitepaper.php UX Trends in Banking | August 3, 2011 | @wrvl
    3. 3. Retail Banks have a greatlyoverlapping portfolio.What makes a bank stand out? UX Trends in Banking | August 3, 2011 | @wrvl
    4. 4. User ExperienceUX Trends in Banking | August 3, 2011 | @wrvl
    5. 5. A NEGATIVE EXPERIENCE WITH A ROUTINE TASK CAN HAVE BIG IMPACT UX Trends in Banking | August 3, 2011 | @wrvl
    6. 6. vimeo.com/19131028UX Trends in Banking | August 3, 2011 | @wrvl
    7. 7. Banking: 7thposition inCustomerExperience UX Trends in Banking | August 3, 2011 | @wrvl http://experiencematters.wordpress.com/2010/01/11/forrester‟s-2010-customer-experience-
    8. 8. Customersexpect superior experiences UX Trends in Banking | August 3, 2011 | @wrvl Image from: fli
    9. 9. UX Trends in Banking | August 3, 2011 | @wrvl
    10. 10. WHY USER EXPERIENCE?Poor usability…= (-) emotion= (+) confusion (+) frustration= (-) association (+) memory creation= (+) abandonment (+) no return= $0 UX Trends in Banking | August 3, 2011 | @wrvl 1
    11. 11. BANKING:THE TOP 5 TRENDS UX Trends in Banking | August 3, 2011 | @wrvl
    12. 12. TREND #1UX COMPETENCE ON THE RISE
    13. 13. UX MATURITY MODEL STRATEGY HYGIENE UX Trends in Banking | August 3, 2011 | @wrvl
    14. 14. http://www.flickr.com/photos/25153616@N00/47123903HYGIENE UX Trends in Banking | August 3, 2011 | @wrvl
    15. 15. HOW HYGIENE WORKS Time per interaction (efficiency) Usability issues Failure line ( Abandonment) Frustration line (irritation, insatisfaction) Inefficiency line (waiting, crankyness) Neutral expectations line Time of usageUsers can accept some issues, but the negative experience accumulates UX Trends in Banking | August 3, 2011 | @wrvl
    16. 16. AROUND GOLIVE: HYGIENE UX sweeps HIGH LOW UX Trends in Banking | August 3, 2011 | @wrvl
    17. 17. UX MATURITY: STRATEGY UX Trends in Banking | August 3, 2011 | @wrvl
    18. 18. TREND #2MOBILE BRINGS FOCUS.
    19. 19. (WHAT IS MOBILE, ANYWAY?)Desktop Couch 1 eye, 1 thumb surfing surfing surfingUX Trends in Banking | August 3, 2011 | @wrvl
    20. 20. “MOBILE FIRST”Constraints screen size = focus speed context scattered attention UX Trends in Banking | August 3, 2011 | @wrvl
    21. 21. UX Trends in Banking | August 3, 2011 | @wrvl
    22. 22. UX Trends in Banking | August 3, 2011 | @wrvl
    23. 23. UX Trends in Banking | August 3, 2011 | @wrvl
    24. 24. MANTRA: MOBILE FIRST Luke Wroblewski: Web products should be designed for mobile first (even if no mobile version is planned) UX Trends in Banking | August 3, 2011 | @wrvl Shamelessly stolen from Luke Wroblewski, mobilism 2011
    25. 25. TREND #3THE NATIVE APPS TRAP
    26. 26. Customers need ubiquityBut how can you support alloperating systems and devices?UX Trends in Banking | August 3, 2011 | @wrvl
    27. 27. NATIVE APPS ARE MOVING TO WEB APPS The web app The Native appUX Trends in Banking | August 3, 2011 | @wrvl
    28. 28. WIDGETS / HTML 5 SOCIAL NETWORKS BANKING WEBSITE FRONT OFFICE UNIFIED DESKTOPThe solution: Widgets & HTML 5Widgets can contain any application and are reusable, This makes widgetsthe best solution for the mobile challenge, for both the web and native apps.UX Trends in Banking | August 3, 2011 | @wrvl
    29. 29. No App store No Vibration Ltd Local Cache No Camera Ltd Geo Location No Sound HTML 5 APPCreating a mobile web-app with Widgets & HTML 5For most mobile scenarios access to local functionality andhardware is not necessary.UX Trends in Banking | August 3, 2011 | @wrvl
    30. 30. Native App Wrapper With App store With Vibration With Local Cache With Camera With Geo Location With Sound HTML 5 APPThe 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.UX Trends in Banking | August 3, 2011 | @wrvl
    31. 31. TREND #4EVERYBODY WANTS PERSO-NAL FINANCE MANAGEMENT http://www.flickr.com/photos/bubazzo/3237768
    32. 32. EXAMPLES OF CURRENT BANK PFM (automated) tagging budgets Account aggregation Saving goals UX Trends in Banking | August 3, 2011 | @wrvl
    33. 33. EXAMPLES OF CURRENT BANK PFM Forecasting Socialbenchmarking UX Trends in Banking | August 3, 2011 | @wrvl
    34. 34. BANK CUSTOMER INTEREST IN 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 UX Trends in Banking | August 3, 2011 | @wrvlhttp://cdn.pressdoc.com/7221/documents/1711-1281968341-Onderzoeksresultaten_Persoonlijke_financien_-_inzicht_en_overzicht.pdf
    35. 35. - Customers want it.- Banks want it.- Customers want their bank to have it.- It exists out there.…So where are the PFM‟s? UX Trends in Banking | August 3, 2011 | @wrvl
    36. 36. TREND #5 OPEN AND CLOSEDENVIRONMENTS ARE MERGING http://www.flickr.com/photos/darrenwoolridge/4699664505/
    37. 37. THE OPEN AND THE CLOSED ENVIRONMENT:THE UNHAPPY MARRIAGE UX Trends in Banking | August 3, 2011 | @wrvl
    38. 38. WE LOVETRANSACTIONS- 86% of the visits goes straight to IB- checking balance and quick payments: users are shifting from desktop to their phone apps UX Trends in Banking | August 3, 2011 | @wrvl
    39. 39. Towards Seamless user journeys(from anonymous to personal) UX Trends in Banking | August 3, 2011 | @wrvl
    40. 40. JOURNEYS FROM OPEN TO CLOSED The (social) web Bank public environment Bank personal environment Bank transactionsClose to Close to Bank’s my life core business UX Trends in Banking | August 3, 2011 | @wrvl 4
    41. 41. EMERGING „SEAMLESS‟ PATTERNSPersonal Public stuff stuff Public stuff UX Trends in Banking | August 3, 2011 | @wrvl
    42. 42. TRENDS: SUMMARY1 UX competence on the rise2 Mobile brings focus3 The native apps trap4 Everybody wants PFM5 Open and closed are merging UX Trends in Banking | August 3, 2011 | @wrvl 42
    43. 43. UX PRINCIPLES UX Trends in Banking | August 3, 2011 | @wrvl
    44. 44. Design principles are the guiding lightsthat you design with.These are the things you base decisionson, vet any ideas against and inspire yourdesigns.UX Trends in Banking | August 3, 2011 | @wrvl 4
    45. 45. PRINCIPLE#1 Understand your audience and intent UX Trends in Banking | August 3, 2011 | @wrvl
    46. 46. USAA UX Trends in Banking | August 3, 2011 | @wrvl
    47. 47. USER CENTERED DESIGN IN PRACTICE1 Persona2 Life event they are facing3 Goals they have4 Happy flow to get there5 Alternative scenarios to get there UX Trends in Banking | August 3, 2011 | @wrvl
    48. 48. PRINCIPLE#2 Use Visual Hierarchy to guide the eye. UX Trends in Banking | August 3, 2011 | @wrvl
    49. 49. NOT SO GOOD VISUAL HIERARCHY… UX Trends in Banking | August 3, 2011 | @wrvl
    50. 50. GOOD VISUAL HIERARCHY UX Trends in Banking | August 3, 2011 | @wrvl
    51. 51. UNCLEAR PATH TO COMPLETION… UX Trends in Banking | August 3, 2011 | @wrvl
    52. 52. CLEAR PATH TO COMPLETION. UX Trends in Banking | August 3, 2011 | @wrvl
    53. 53. PRINCIPLE#3 Think about progressive disclosure UX Trends in Banking | August 3, 2011 | @wrvl
    54. 54. DIFFERENT NEEDS FOR DIFFERENT LEVELS OF EXPERTISEBeginning user Intermediate Advanced user user UX Trends in Banking | August 3, 2011 | @wrvl
    55. 55. WHAT ARE THE COMMON QUESTIONS?Beginning user Intermediate Advanced user user• What‟s going on here? • I know it is exists, • Can I use a shortcut?• What‟s in it for me? …but where? • Can I personalize?• How does it work? • How did I do this • Can I work faster? again…? UX Trends in Banking | August 3, 2011 | @wrvl
    56. 56. UI PERSONALIZATION: ADVANCED USERS UX Trends in Banking | August 3, 2011 | @wrvl
    57. 57. UX Trends in Banking | August 3, 2011 | @wrvl
    58. 58. PRINCIPLE#4 Understand Customer Engagement UX Trends in Banking | August 3, 2011 | @wrvl
    59. 59. 1.People are real.People want a relationship that works best for them. UX Trends in Banking | August 3, 2011 | @wrvl 5
    60. 60. 2.People rely on trust.People only do business with credible partners. UX Trends in Banking | August 3, 2011 | @wrvl 6
    61. 61. 3.People communicate.People share stuff about themselves, and expect the same in return. UX Trends in Banking | August 3, 2011 | @wrvl 6
    62. 62. 4.People have a life.Don‟t waste their time with irrelevant messages.Engage with messages that relate to them. UX Trends in Banking | August 3, 2011 | @wrvl 6
    63. 63. 5.People don’t forget.They want a memorable time they can treasure and SHARE. UX Trends in Banking | August 3, 2011 | @wrvl 6
    64. 64. PRINCIPLE#5 Plan a little – prototype the rest UX Trends in Banking | August 3, 2011 | @wrvl
    65. 65. PROTOTYPING CAN BE EASY.- Keynotopia is great.- 5 users is enough- Test with simple tasks („change the payment alert) UX Trends in Banking | August 3, 2011 | @wrvl
    66. 66. PRINCIPLE#6 Designers: go with the flow UX Trends in Banking | August 3, 2011 | @wrvl
    67. 67. THINK IN BREAKPOINTS 0px 600px 900px We have no idea UX Trends in Banking | August 3, 2011 | @wrvl
    68. 68. SEPARATE LAYOUTS PER BREAK POINT 0px 600px 900px We have no ideaStructured content firstFluid layouts UX Trends in Banking | August 3, 2011 | @wrvl
    69. 69. PRINCIPLES: SUMMARY FORBANKING PROJECTS1 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 UX Trends in Banking | August 3, 2011 | @wrvl 69
    70. 70. Thanks.WESSEL VAN LEEUWEN | wessel@backbase.com | @wrvl | +316 41 1853 41UX Trends in Banking | August 3, 2011 | @wrvl

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