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.


<p>Get ready for the new era of Engagement Banking</p> <p>IN ONLINE BANKING 2011</p> <p>WESSEL VAN LEEUWENUX TRENDSUX Trends in Banking | August 3, 2011 | @wrvlThanks. </p> <p>My name is wessel van leeuwen , Native Dutch, and I am User Experience Designer since 2001.The past four years I have been working for Backbase, Specializing my skills in Rich Internet Applications (RIA) and online banking portals.</p> <p>I have done projects for several tier 1 and tier 2 banks (in NL, BE, SA, RU), And from doing that, I see some patterns emerge.And I thought it was time to share some of these findings with you!</p> <p>In the coming 30 minutes I will take you through the UX trends I encounter during my banking projects.Next to that, I want to take you through a bunch of UX principles that I feel are a bit underlit in projects within the banking world.These principles help me getting my work done, and I hope they can be of value to you too!</p> <p>So lets get started, and Id love to hear your feedback and questions, so please share those in the Q&amp;A.</p> <p>Our latest white paper is available for download at</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlRetail Banks have a greatly overlapping portfolio.</p> <p>What makes a bank stand out? UX Trends in Banking | August 3, 2011 | @wrvlSo before we start off, I would like to make a bit of a bold statement:Retail banks have an overlapping portfolio.</p> <p>people get used to a certain set of functionality.For example, Making payments should work quite similar across all banks in the country.</p> <p>So the question rises,&gt;What will make a bank stand out?I am sure you either posed this question, or answered it.</p> <p>In the end, prices are not a differentiator either.</p> <p>So: you need another Differentiator. Which one?User ExperienceUX Trends in Banking | August 3, 2011 | @wrvlYou guessed it: I believe the answer to this is User Experience.</p> <p>When most services and customer contact is mediated by the web , User Experience is the next step to make a big difference.There is still a lot of room for improvement in this industry.</p> <p>(side note):the term User Experience was coined by Donald Norman in 1995 to cover the vast domain beyond usability.</p> <p>a negative experience with a routine task can have big impact</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlSo since A lot of people are banking on a regular or daily basis a negative experience actually affects peoples lives.</p> <p>Good user experience takes away all the barriers the keep people from reaching their goals.The interface simply gets out of the way.</p> <p> Trends in Banking | August 3, 2011 | @wrvlSo that is the fate of the User Experience Designer :The better the user experience, the less it gets noticed!</p> <p>Id 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.</p> <p> 7thposition in Customer ExperienceUX Trends in Banking | August 3, 2011 | @wrvl but enough about the fate of the UX Designer.</p> <p>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 retailers websites.That is probably higher than most banks can meet.</p> <p>Customers expect superior experiencesImage from: flipboardUX Trends in Banking | August 3, 2011 | @wrvlCustomers expect suerior 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!</p> <p>8</p> <p>The ROI of User Experience with Dr. Susan Weinschenk Trends in Banking | August 3, 2011 | @wrvlUser Experience design pays off:There are numerous reports that show a relation between investing in UX and increased turn over.I wont get in to this topic right now, but do check out Human Factors International if it interests you.</p> <p>HFI Video - The ROI of User Experience with Dr. Susan Weinschenk</p> <p>WHY USER EXPERIENCE?Poor usability = (-) emotion = (+) confusion (+) frustration = (-) association (+) memory creation = (+) abandonment (+) no return = $010</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlSo why user experience?Users are humans. There is no average user. And: businesses do not sit behind a computer, humans do.And they have emotions about using your site.</p> <p>&gt;&gt;So there you have it: a hard connection between a humans emotion and your profits!!</p> <p>How do we 10Banking: THE TOP 5 TREnds</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlSo now we have established that UX can be the differentiator, Lets see what the banking industry is doing.Next, I will show the Top 5 trends, from what I see in the field.I hope this gives you some insight, as to where banks are heading with their online user experience.</p> <p>#1TRENDUX COMPETENCE ON THE RISEI notice that traction for user experience is growing.</p> <p>In Europe and the States, UX Teams seem to be growing, both in size and in organizational influence.</p> <p>However not all banks are that far.many banks are busy installing UX teams.In russia for example, everybody feels the need but the organizational readyness lags behind.I hear similar signals from China, showing a growing interest in UX.</p> <p>Also, Some unexpected problems arise: for example, In south africa and the middle east, there seems to be a big shortage of UX expertise in the country; this makes it very hard to build a competence.</p> <p> MATURITY MODEL</p> <p>HYGIENESTRATEGYUX Trends in Banking | August 3, 2011 | @wrvlThis 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.&gt;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?) &gt;</p> <p>Nb: Jakob nielsen made a similar model, from initial hostility towards usability, to widespread reliance on user research.</p> <p>UX Trends in Banking | August 3, 2011 | @wrvl</p> <p>HYGIENE hygiene is always needed.Users expect a minimum level of usability. The hygiene factor needs to be taken into account, or customers walk.</p> <p>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</p> <p>HOW HYGIENE WORKSUsers can accept some issues, but the negative experience accumulatesUsability issuesTime of usageInefficiency line (waiting, crankyness)Neutral expectations lineFrustration line (irritation, insatisfaction)Failure line( Abandonment)Time per interaction (efficiency)UX Trends in Banking | August 3, 2011 | @wrvlHow does hygiene work.</p> <p>First, users have neutral expectations.Then, when the site is slow, or it makes you search hard for information, the users feel inefficiency.It gets worse when users cannot apprehend the sites behavior, because the rules of the game change: menus or forms react differently.And to really make users walk, try this: break the login routine or the feedback form. Or: do not support default browser, demand plugins, use CPU hogging flash</p> <p>AROUND GOLIVE: HYGIENE HIGHLOW</p> <p>UX sweepsUX Trends in Banking | August 3, 2011 | @wrvlA good way to bring ux hygiene into practice is with ux sweeps.What you see here, is the call center pressure.&gt;Typically around the golive of a major release.usability sweeps needs to take place, right before and right after golive.</p> <p>Before golive:You might want to check the new patterns that might have emerged. For example, a cool app is added, but it has a different feel to it. Or, the user journey from invitation letter to login breaks.Before golive you can tackle such accessibility and uniformity issues.</p> <p>After golive:You need to listen closely to the call center, and immediately solve the so called head slappers.We are currently with ABSA in exactly this stage.</p> <p>UX Trends in Banking | August 3, 2011 | @wrvl</p> <p>UX MATURITY: STRATEGY 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.</p> <p>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.</p> <p>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.</p> <p>#2TRENDMOBILE BRINGS FOCUS. need to wow you with statisitcs: mobile is more ubiquitous than desktop, closer to people than ever, and more aware of its context than anything.And next year, sales are going to surpass the sales of desktop devices.I see this in banking as well. Banks are very active with getting the mobile experience right.In Holland, bill boards are promoting the comfort of mobile banking. In the middle east, a sjeikh approved a project just by checking his ipad. Desktop surfing(WHAT IS MOBILE, ANYWAY?)Couch surfing1 eye, 1 thumb surfing</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlEverything is becoming mobile, it is good to mentally categorize it in three different types.</p> <p>(btw, dont even think about how that picture was taken)Constraints screen size speed context scattered attentionMOBILE FIRST= focus</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlThe whole mobile thing has big impact on UX design. The trend is summarized with Eric Schmidts mantra mobile first. Luke Wroblewski, a brilliant UX designer, has picked up on this and gave a great presentation here in amsterdam recently.</p> <p>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.&gt;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.</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlAn interesting example is soutwest.comThe site contained a lot of stuff.</p> <p>"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</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlThen, the designed the mobile version</p> <p>Essence, captured for mobile site.It is a very different navigation model.</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlAnd now some of the good ideas have influenced back the desktop website, making it easier for users to reach their goals.Luke Wroblewski:</p> <p>Web products should be designed for mobile first</p> <p>(even if no mobile version is planned)Shamelessly stolen from Luke Wroblewski, mobilism 2011</p> <p>MANTRA: MOBILE FIRSTUX Trends in Banking | August 3, 2011 | @wrvlSo 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.</p> <p>#3TRENDTHE NATIVE APPS TRAPThe third trend is about the battle between native apps, and web apps. </p> <p>It is clear that since apple made pretty mobile application design possible, the quality of Uis and the amount of thinking put into it has increased enormously. Most banks by now have a native app for a few platforms, or they are working on one now with red cheek bones.</p> <p>And these apps are great they typically have that focus we just talked about: limited functionality, relevance, and easy to use.But we also see, that the banks are overwhelmed by theextra amount of effort.</p> <p>Customers need ubiquityBut how can you support all operating systems and devices?</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlDistribution: There are 117 app stores in early 2011.Maintenance: It is a tough challenge with the multiple computers, tablets and smart phones on the market, along with the hundreds of different combinations of screens, operating systems and browsers.</p> <p>And dont forget Discoverability: users cannot find the apps or navigate to other apps, because the apps are like walled gardens.NATIVE APPS ARE MOVING TO WEB APPS</p> <p>The web appThe Native appUX Trends in Banking | August 3, 2011 | @wrvlSo 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.</p> <p>The solution: Widgets &amp; 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 5BANKING WEBSITESOCIAL NETWORKSFRONT OFFICEUNIFIED DESKTOP</p> <p>UX Trends in Banking | August 3, 2011 | @wrvlThe solution to the mobile challenge is the web app. To go short, this means Widgets in combination with HTML 5.</p> <p>Widgets are mini-applications that can contain anything and can be presented across multiple channels.But the cool part is, there is just one source needed for all platfomrs. Only an internet connection and a mobile browser are needed.</p> <p>Creating a mobile web-app with Widgets &amp; HTML 5For most mobile scenarios access to local functionality andhardware is not necessary.HTML 5 APP</p> <p>No App storeLtd Local CacheLtd Geo LocationNo VibrationNo CameraNo SoundUX Trends in Banking | August 3, 2011 | @wrvlFor most mobile banking scenarios a mobile web application, running in the browser of the mobile device and optimized for the mobile device is more than sufficient. </p> <p>And with HTML 5 and the UI libraries available this brings an almos...</p>


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