The banking industry is transforming and delivering great experiences through innovative digital channels. Many people are embracing digital banking because of its efficiency. Customers no longer have to visit their bank branches and queue for hours to transact. Thus, the quality of customer experience plays a key role in the app’s choice in the saturated digital market.
UI/UX design is one of the key elements affecting the quality of a web product. It helps to transform the banking sector by meeting the high demand for smooth and customized experiences. That is why mobile banking design focuses on customer behavior and needs.
Developing a user-centered application will result in long-term business relationships for your financial institution. Thus, you should understand your clients and their expectations inside out. This way, you will achieve an efficient customer journey from entry to exit and will you’re your satisfied users into your brand’s advocates and ambassadors.
This article gives insights into how you can enhance customer journeys in banking with proper UI/UX decisions.
Importance Of UI/UX In Banking
The banking sector is rapidly evolving as many financial institutions strive to embrace the modern trends and reach out to their existing customers with online-based services.
UI/UX design is vital in developing intuitive and appealing interfaces, which increase usability and demand for your product. Thus, modernized banks want to capture a massive customer base through seamless, customer-centered applications.
User-friendly applications improve client satisfaction and increase customer retention rates. Many people abandon bank apps in search of better digital experiences. That is why banks should invest in a good UX design to avoid losing customers.
How UI/UX Improves Customer Journeys
A customer journey is the entire experience customers have when interacting with a particular digital product. It could be an application or a website from the point of access to the checkout phase. In a nutshell, the customer journey represents an individual’s full experience as a customer.
So, how can you enhance your product’s customer journey with UX design? The trick lies in designing the app in a way that allows users to solve their problems and accomplish the goals with which they come to your product. To achieve this, you should understand your customers before the design process starts. What are their needs, product goals, and expectations? You must know your customers’ pain points and address them by aligning user goals with banking services.
Let Us Explore Some Of The Ways That UX/UI Design Enhances Customer Journeys In The Banking Sector.
Onboarding New Users
Banks have a seamless onboarding process to welcome new customers. When your app or website is user-friendly and comfortable, you will get many customers lining up to use your product.
Your clients might leave the app without completing registration if it offers a bad experience. Maybe it has a long sign-up process requesting too much customer data. Or the tabs in the sign-up form are not intuitive and have no prompts about what information should be input into them.
Thus, the sign-up process should be brief and intuitive to achieve stellar UX. Apart from saving time, users will connect with the brand from the first interaction with the product. One way to streamline onboarding is to introduce a progress bar with registration steps. It is a visually organized UX solution that allows a customer not to feel overwhelmed.
You can also provide a personalized user experience depending on what the customer aims to achieve through your bank app. For instance, a client who wants to open a current account has different objectives compared to a client who wants a mortgage loan. Thus, every client should be offered a convenient list of services to narrow down their scope at entry and avoid being overwhelmed by the multitude of service types.
You can also improve UX by storing the relevant customer data provided during the sign-up process. Later, the information can be filled out automatically into various bank forms. This UX trick simplifies the form-filling process and makes clients more satisfied.
Many clients get frustrated during transaction disputes or issues without useful support. It could be a wrong credit or debit card charge or fraudulent withdrawals. Whether through endless emails, phone calls, or a chatbot, non-timely support is not a pleasant experience for customers. Besides, delays in getting help can stain the reputation of your bank.
To avoid these UX risks, ensure you provide efficient and reliable support for all customer disputes. This step will enhance the banking experience for your clients. So, it’s vital to optimize the entire system of managing disputes and rendering support. The support agent should be able to access sensitive customer information and initiate processes to solve the issue on time. Another handy option is to introduce chatbots and voice assistance. These hi-tech tools are available 24/7 and can improve customer satisfaction and the overall UX with prompt, personalized support.
In this digital era, many people prefer the convenience of mobile banking. It cuts across generations and the global sphere. No one wants to waste time sticking to traditional banks while a smartphone can do the work efficiently. Mobile banking is all about using the bank’s app or site to access financial services.
There are useful features that can prevent a client from making a trip to the bank or calling the support agent. Thus, you should be able to deposit a check or view your account balance and statements. Transferring funds and paying utility bills is also possible with an efficient app. Thus, ensure you prioritize UI/UX for your bank app to provide flawless experiences and easy access.
Mobile check deposits are no doubt an impressive feature that improves customer experiences. Current technology is reliable and intuitive, giving your financial institution a huge range of tools for improving your customers’ UX and solidifying your position in the digital market.
As a financial market player, you need to stay on top of the game by prioritizing UI/UX design. The digital transformation in the banking sector affects customer retention and sales. Thus, delivering products with excellent UI/UX is key to the success of banking services.