Financial UX Design Trends that will TRANSFORM Digital Banking
The vanguard of financial UX Design trends
I have myriad interests. Although finance may not appear in the same list of interests of fashion and footwear, as most designers, it surfaces in mine because of my relevant background and experience. My first degree and formal education is a bachelor’s in commerce, with a major in corporate finance and marketing. Upon graduating from The University of Sydney, I actually interned in the investment banking division at Westpac and while it was an enlightening and formative experience, numbers didn’t entirely agree with me. And thus, my path to design and the arts were carved.
It led me to a successful and enjoyable fashion career as a footwear designer for 6+ years, where I enjoyed immersive industry experiences (working next to the legendary Oscar de la Renta backstage!) that if I told my teenage self of the stories I witnessed firsthand and experienced, I would have to pinch myself!
Hindsight is 20/20 and while I was privy to a most rewarding and edifying career in fashion for the most of my twenties, footwear design didn’t stimulate my creativity in a way that activated both hemispheres of the brain. Although inherently my right side, the analog side (the visual and intuitive functions) will always be the more dominant; the analytical and critical thinking side of my brain yearned to be empowered as well. I see now, that finance and UX Design is the amalgamation of where my business, marketing and design acumen can best be applied.
My reading has recently gravitated towards where the top financial UX design trends are converging. And as the year ends, I thought it was a wonderful opportunity to summarize some of the top trends that have emerged from my reading.
From default “bootstrap” to exceptional tailor made design.
Takeaway for product designers: create a digital product interface that’s unique in accordance with the visual identity of the financial brand. This will make the digital product delightful and allow it to stand amount among the growing competition.
From limited mono-functional to super app design.
Takeaway for product designers: learn the best practice from super app designs and get ready to scale your product while maintaining simplicity and usability.
From demotivating Excel-like interface to dopamine like gamification.
Takeaway for product designers: try to apply gamification elements to refresh the design of the most boring financial products to motivate users.
From limited functionality to exciting full experience design.
Takeaway for product designers: find the missing desktop functionality for mobile solutions and create a mobile design out of it.
From legacy incumbents to confident digital outperformers.
Takeaway for product designers: operate from the design-first principle by stepping out of the legacy to design a world-class digital first product/
From frustrating fragmentation to an enjoyable digital ecosystem.
Takeaway for product designers: use design to unite company products into a consistent ecosystem that overcomes service and organizational silos.
From a complex puzzle to an effective design system.
Takeaway for product designers: take design further than interface and visual identity by transforming it into a language that establishes rapid and effective product development by using a design system.
From cold- to warm-hearted design.
Takeaway for product designers: don’t be afraid to be informal in financial design, perceive users as friends and build an emotional connection with them through design.
From mobile-only to progressive VR/AR ready design.
Takeaway for product designers: think about the perspective of product development in the near future to be ready at the design level.
From package to ideology that makes an impact.
Takeaway for product designers: look at design as your business ideology. What perspectives and opportunities does this open up, and can you as a designer do to realize them?
