UX, October Meet-up, MUXL, UXevent

MUXL recently ran a meet-up on designing in Fintech. Presentations were delivered by Ranzie Anthony and Richard Bretschneider which were both informative and insightful about issues and challenges faced within Fintech & in particular online banking. Afterwards, there was a Q&A for both presenters and a great networking session capped off with drinks.

 

Ranzie Anthony – 10 Principles for UX design in Fintech

Ranzie is an experienced Creative Director with a passion for design, technology and innovation. Graduating with a degree in Graphic Design, he started his career at Deepend, an early digital agency. In 1998 he founded Tonic, an award-winning digital design and brand agency whose clients included Sony, Vodafone, MTV, Toshiba and British Council. He is currently co-founder and Chief Creative Officer of Athlon, a 75 person design and technology agency with offices in London, New York and Sofia. Athlon works at the intersection of design, brand strategy and technology to help accelerate product innovation.

Ranzie started his presentation talking about the challenges that the Fintech industry is facing, especially during the financial crisis where some of the most transformative technological advances emerged, creating a gap between what customers came to expect and what the banks provided. UX in Fintech is proven to be very important and Ranzie followed up with the different payment methods throughout the years explaining that it has always been a challenge to keep up. One example is that payment methods are changing, we now have countries that are near being totally cash free. As Ranzie said, “innovation is though” but “disruption breeds innovation” and in this time of trends disrupting everything, Fintech needs to face these challenges and create new services. From there on he went through to the 10 design principles that accelerate innovation in Fintech.

  1. Your team
  2. Lean projects – Short projects lasting 30 days
  3. Audit the landscape
  4. Be embedded
  5. Map everything
  6. Design in the open – You need to share all the way through the process and not just at the end
  7. Design in patterns
  8. Prototype early and frequently
  9. Lean insights
  10. Articulate with film

Ranzie, PowerPoint, MUXL, Fintech

 

Richard Bretschneider – How to make a really bad first impression with your multibanking app

Richard Bretschneider is a Senior User Experience Consultant at Eresult GmbH in Germany. He is an internationally working specialist for Usability & Prototyping of both graphical and voice user interfaces. Recently he held talks at IRCAM (Paris), DesInc Forum at the University of Sussex (England) and the HCI International Conference in Los Angeles (USA).

Earlier this year Richard conducted a multibanking study to compare how six different apps on-board their users. The result was quite disillusioning; most app developers seemed to focus on their banking backend but forgot about their users. Richard talked not only about how to make a really bad impression with a multibanking app but also about how to avoid it. Richard explained that multibanking is a type of ‘personal finance manager‘ where you can add multiple bank accounts so all the information is in one app. Richard used the German multibanking apps to show how we can learn from some of their mistakes.

  • No welcome screen
  • To complicated passwords that need to be written multiple times
  • If you lose your password it is game over – because you cannot recover your account
  • It asks if they may send notifications, and people will often choose ‘Don’t allow’

A solution to this is to ask at the right time and give options to which kind of notifications they get. Or the company can use permission priming (telling the benefits of this action)

  • The empty state problem – when the app does not make sense without an account

The solution to this is first, be positive, welcome people, show them how to get started. Secondly be clear, what is the next step? Thirdly, show what awaits the user, this one is optional but a great addition to a good banking app.

  • Wrong type of search bar
  • Every bank comes with its own backend

The solution to this problem is to use error tracking to prevent the most common errors, in order to avoid the backend error messages

  • Hiding the primary actions

Richard, UX, October Meet-up, MUXL, UXevent

Richard ended the presentation with concluding that multibanking is all about trust, it is a complicated process, but that must not be the user’s problem. Help them to have a smooth start & to avoid errors

 

@VirtualRanz

@RBretschneider

Check out the next meet-up & events here