User design in retail and commercial banking products
As our world becomes increasingly reliant on digital services, the financial industry has found most of its innovation focused on meeting the demand for digital products. Banks and credit unions are introducing more digital services like mobile check deposit, voice banking and online account opening. With this new technology comes a new learning curve. New apps, software and processes are not always intuitive to a wide array of users. As such, there has been a rise in the way financial institutions are developing new services, with a user-first priority.
That’s where User Experience comes in. With careers in the field slated to grow almost 15% in the next ten years, User Experience (UX) and User Interface Design (UI) roles are the connection between digital developments and the humans who use them. At the forefront of UX and UI is the design-centric thinking that studies and perfects how a user will move through a program.
How frustrating is it when you can’t find how to CONTACT US on a website? How many times have you lost work when the CANCEL button is next to the SUBMIT button on a given digital program? Challenges like this are valuable to digital service providers because the longer it takes a user to complete a task, the more time they have to find another service to do it more easily.
Enter UI & UX.
In the financial industry, banks and credit unions have a wide range of users across a myriad of demographics and generational divides, but all of their experiences are regulated within a bank or credit union’s app or website.
Actions like transferring funds to another account on an app can be daunting, and the user may resort to writing and mailing a check, or taking valuable customer support call time to walk users through. The challenge for banks and credit unions is to make these processes natural, thereby perfecting the UX through an intuitive UI.
Apiture Cash Management Wizard
When it comes to business banking, these processes become even more challenging. Transferring funds to another account is nothing like running payroll or processing CTX credit batches.
Of course, creating and administering ACH batches are performed by only those expert account holders, trained to do so. However, these technical processes can be made easier for the user by a more intuitive designed process. After all, why make things be harder than they should be, especially where valuable customer experience is involved?
Apiture Cash Management recently underwent an enhancement to bring clarity and simplicity to the cash management functionality for business users.
To improve the user experience with ACH and wires, a three-step wizard was introduced to streamline the ACH process into guided and easy steps, with automatic saves, smart filters and content dependent on user selection, and automatic approval triggers.
Completing an ACH batches and wire transfers requires fewer clicks and enables the user to verify correct information with instant pop-up warnings. The Cash Management wizard takes the ACH and wire process from a pain-staking procedure, to a guided smart form, letting business users get back to business, instead of spending time doing what the institution can do for them.
With the new and improved ACH Wizard, batch creation, modification and approvals are easier than ever. Banks and credit unions can put the tools right into their users’ hands, making user experience a highlight of their business.
Cash Management is just one example of how UX and UI is changing the way we complete actions.
Users want to use mobile and online banking. For true adoption, the end-to-end process has to be perfected. When a user can’t figure out how to deposit a check, or can’t find the “take picture” button, they will abandon the process and your institution.
Take charge of your digital experiences. With Apiture, your user experience will set you apart and increase your digital adoption.
User Design is central in any digital service, for financial institutions and beyond. At Apiture, we build for your people, so your institution can reach its full potential.
Want to learn more about how Apiture can innovate and grow your digital platform? Contact us.