ux 101 context to fintech
TRANSCRIPT
UX DESIGN -
CONTEXT TO FINTECH (Banks, FinTech startups, insurance and charity services, trading
platforms and payment services.
10th March, 2017
@RuthlessUx -Shaheena Attarwala
@RuthlessUx By Shaheena Attarwala
"Everything is Designed and Everything is simple. If it ain't simple enough, It just ain't designed well
enough".-RuthlessUx
About me @RuthlessUx
• UX Consultant
• Currently Head of Design at Wigzo Technologies
• Founder PurpleCube Design Studio (2009 - Present)
• Ex - Designer BookMyShow(2009) and Shaadi.com(2012)
• Ex - Co-founder & Design Head at Truss Networking (2014)
• UX Blogger at www.RuthlessUx.com
Shaheena Attarwala
www.RuthlessUx.com
UI - Interface Elements UX- How a user gets. from point A to point B.
www.RuthlessUx.com
UX involves human psychology as well as business analysis.
@RuthlessUx -Shaheena Attarwala
www.RuthlessUx.com
There are a very few known techniques that can precisely and consistently shape
a good ux Keep it simple / Relate to things people used to/ Learnt it anecdotally / via Experiment
www.RuthlessUx.com
deadly simple | breathtaking creative experience.
Beauty is secondary
Utility / Usability Comes first | Beauty is secondary
masochistic teapot
Users resist change
Fool them slowly rather than quickly
Make users feel smart (Salt&Pepper Rule)
Don't hide things in complexity in design.
4 step to build a Good UX
Be Specific - Narrow it down
Build Accurate
Test
Simplify
Triune brain
80% Behaviour: 20%
Paul MacLean, 1960
LIZARD BRAIN Fight or flight,
MAMMAL BRAIN Emotions, habits, emotions,
feelings and social interactions.
NEOCORTEX Abstractions, Finances, thinking
and cognitive processes.
fear, safety & tracking movement.
Rational consciousness
It is not in our nature to understand finances.
80%
Of costumers behavior is determined by sub-consciousness Old part in the Human Brain
• Finance is an Artificial Concept • Lies in our consciousness • We have to work with our conscious mind • That`s why we are not perfect with calculations
and controlling our financial behavior.
Self Control?
Half a box of chocolate now? Full box of chocolate in a week?
Current financial services, especially bank services, are really complex. • Frustrate users • Do not engage them.
FinTech’s are here to compete with banks and users choose those solutions because they solve their
problems and fulfill their needs.
• Change thinking from product-centered to user-centered.
• Product-centered thinking is about push marketing
and advertising with the aim to make someone love your product. User-centered thinking is about making a product that everyone loves. These are two different approaches.
Design thinking is a user-centered approach to problem solving. Empathy is key.
• Banks is that they are too big and old-fashioned • FinTech companies observe the market and
quickly offer new and valuable products.
• Users don’t want to have to switch or tap dozens of buttons.
• One Button Push • Users get what they want
People are never going to learn enough. People are never going to be beginners.
People will always be learning. - Allan Cooper
Make it simple enough. Discoverability is a great tool for
learning. Humans are hardwired and naturally intuitive to things
that resonate to their gut
Lack of understanding of consumers
SERVICESPROVIDERS BELIEVE THEY UNDERSTAND
81%
CONSUMERS FEEL THEY DON’T
37%
Econsultancy, 2015
Only a few bank products used by online banking users
1 PRODUCT USED
20%
2-4 PRODUCTS USED
70%
Ernst & Young, Europe, 2014
• Users want to see their balances, view their transaction history and make transfers and payments.
• Less Clicks! This is a big advantage over traditional banking solutions, which typically require over eight clicks.
> As humans can’t communicate without human language. > Technology can’t provide it`s value without design. > Gain customers through design as a language.
Bad user experience causes customers switching
Ernst & Young, Europe, 2014 Econsultancy, 2015
said previous company failed them
Product Experience Pricing Other
73% More than one bank
50% Opened or closed accounts in the last year
30% 9%
20%
20%
Moving from Cash Society to Completely Digital Finance
Low Average score of banking apps Average rating for personal finance apps/ Expense Managers
Personal finance
Taxes
Banks
79
73
70
61 Payments
45
Low consumers trust
Statista, 2015
Try out “customer shoes”
Britain`s Cashless VS Cash Eg. Electronic Payments
telegraph.co.uk, 2015
30b
25b
20b
15b
10b 2005 2010 2015 2020
Cash Non-cash
Major European banks HSBC, Deutsche Bank, Lloyds Bank, DNB, Banco Santander, Royal Bank of Scotland, Barclays during the last month announced plans to close more than 1,000 branches.
Experts predict that by 2030 Sweden becomes the first country to completely
become cashless economy.
Fintech on the rise
KMPG, CB Insights, 2015
$2.4B 2011
$2.8B 2012
$3.9B 2013
$12.2B 2014
$19.1B 2015
WHAT TO DO?
Learn “customer’s understandable language”
Copy Taxonomy
Architecture Scenarious
Interactions
Design Colors Graphic Typography
Forms
BEHAVIOUR / COGNITION / PSYCHOLOGY
Deliver experience
ONE CLICK
Force users to fill out all those multi-step forms?
Import all required info
through APIs?
Customer research
Find pain points
Prioritize preferred tasks
Paint user personas
Discover best practices
Interviews to find their motivations.
HOW?
User Journey Mapping
https://www.techinasia.com/flipkart-myntra-app-only-disaster
http://timesofindia.indiatimes.com/business/india-business/Flipkart-drops-its-plan-to-go-app-only/articleshow/49751060.cms
http://forbesindia.com/article/special/why-myntra-is-going-back-to-its-desktop-version/43199/1
● Mobile accounts for 70-80% of e-commerce traffic today.
● Forcing users to download the app and shutting out rivals.
● Within 9 months reopened its mobile site
Understand Users! Do research! May 2015
Source :Google - The New Multi-screen World: Understanding Cross-platform Consumer Behavior - August 2012
Smartphones are the most common starting place for online activities
Source :Google - The New Multi-screen World: Understanding Cross-platform Consumer Behavior - August 2012
PCs are most often a starting point for more complex activities
Architect interface
Set Information Architecture
Build Wireframes
Deliver UI Design
RESULT ?
Smart budgeting Application / Software
Person to Person Payments
Marketplace
Testing
Main takeaways Innovation from UXDA:
1. Step in “customers shoes”
2. Learn “human language”
3. Deliver “magic button”
MAGIC BUTTON
THANK YOU!
UXDESIGNAGENCY.COM
https://www.onlinesbi.com/
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www.RuthlessUx.com
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