User experience (UX) refers to a person’s overall experience with a software solution. Factors such as speed, convenience, visual elements, and navigation contribute to or detract from the user experience. For financial institutions, UX is especially important when evaluating digital banking solutions that are used by customers or members.
Ensuring a Positive User Experience for Account Holders
Providing account holders with a convenient, low-friction digital banking experience is a multi-faceted endeavor. Digital banking platforms that deliver positive user experiences maintain the right balance of:
Application Performance: Pages, images, and content should load quickly and completely, allowing users to efficiently complete their desired actions.
Security: Users should feel confident that their personal information and data are securely maintained and protected.
User Journey Alignment: Completing an action (such as resetting a password) should be straightforward and not require the user to go through unnecessary steps.
Modern Design: Users should expect a digital banking experience that is visually appealing, adheres to modern design practices, and “feels like” an extension of the financial institution’s brand.
Intuitive Navigation: Users need an easy way to find what they’re looking for without clicking through dozens of pages or screens.
Understanding Common Needs Among Account Holders
Gaining an in-depth understanding of users’ actual needs is essential for delivering an effective UX. In the case of digital banking platforms, this likely involves studying account holders’ banking patterns and forming persona groups to inform UX decisions.
“On-the-go” users primarily use digital and mobile banking solutions to view account balances, pay bills, make peer-to-peer payments, and transfer funds. On-the-go users need a UX that allows them to quickly complete their banking tasks and move on with the rest of the day.
“Advanced” users rely on digital banking solutions to download and analyze transactions, review and apply for loan offers, update personal contact information, report compromised credit or debit cards, and perform other multi-step actions. Advanced users may be motivated to spend more time exploring the digital banking platform, but they still expect a fast and intuitive experience.
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