31 July 2015

Service Design in Consumer Banking: the challenges and opportunities

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Last month the people from Irish UX consultancy Frontend Design looked at the UX revolution in healthcare and how changes in that sector are moving towards putting the customer at the centre of the service.

The banking sector is experiencing similar upheaval at the moment and facing similar challenges. In this month’s article, we look at six design problems specific to banks and how these challenges offer opportunities to re-imagine banking as a service.

1. Losing the personal touch
2. Neglecting the Total Customer Journey
3. Departmental silos
4. The compliance barrier
5. Missing the opportunity to leverage ‘Big Data’
6. Commodification of products and services

The author concludes: “It’s [the] customer apathy towards banks that offers the chance to make an impact. An outstanding customer experience that integrates channels can increase customer loyalty and encourage uptake of products and services within the same bank. And it’s self-perpetuating: the more products a customer has with a financial institution the more the bank can understand the customer’s needs and behaviours, providing even greater opportunity to strengthen the relationship.”

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We are an international experience design consultancy helping companies and organisations to innovate their products, services and processes by putting people and their experiences first.

19 March 2019
Interested in a career with us?

Then we are interested in hearing from you. We have several positions available for talented UX/UI and service designers who are passionate about creating world-class user experiences. Please see the job descriptions on our website for more information, and send us your CV with a cover letter statement about yourself, your experience, and what UX […]

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