A growing focus on user experience

06 September 2018

There is a growing focus on user experience and Application Interfaces with the ongoing launch of digital propositions in the banking and lending sectors driving this.  This is mainly due to the requirements of “millennial” customers. Many of these customers are used to the look and feel of gaming software, as a result smart phone technology is increasingly being used to deal with applying for and servicing financial services products. To get ahead of this trend, there are currently IT development teams in financial services software businesses working hard to ensure that they deliver a great user experience to users of their software.

The standard areas of ensuring that the design is correct is whether the application is Useful, Usable, Findable, Credible, Desirable, Accessible, and Valuable, values set down by the Interaction Design Foundation.  There is a huge investment in the improvement of the user experience to attract and retain customers and users of applications in nearly every commercial sector.

Let us consider where development is taking us all with the design of the user experience and the application interface. Taking Apple as an example, their focus now is no screens in the user interface.  For example, a user touches their device on a reader to make a payment (no screens or application to open) or they talk into SIRI to perform a search, open an application or perform an activity.

So, is financial services, and particularly our mortgage industry, keeping up? The launch of several new digital banks and lenders says we are trying to. Open Banking will allow more transparency to ensure details are correct and confirmed very quickly while API services linked to the likes of HMRC also confirm income is now available.  

The next stage of progress is likely to be voice activated commands to originate and service products, backed up by Artificial Intelligence (AI) assisting with the decision making processes.

This should not be a dream.  “Conversational banking” is coming and Google, Amazon, Apple and Experian are making progress.  The question is when, not if, and whether voice will replace all other forms of “Application Interface” or whether it will become a complementary solution.

Either way, with the advent of open banking and standard APIs, conversational AI applications will feed into banking APIs to enable dramatically improved user experiences. The future will provide many changes. We must be ready for them.

Media contact

Debbie Staveley
Director and Owner,
bClear Communications

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+44 (0)1275 542 511

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