Enhancing User Experience in Financial Services

Enhancing User Experience in Financial Services

Fatma Molu, Nur Findik, Mustafa Dalci
Copyright: © 2014 |Pages: 11
DOI: 10.4018/ijesma.2014040102
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Abstract

The domain of User Experience (UX) involves studying, designing for and evaluating the experiences that people have through the use of a system. This use takes place in a specific context, which has an impact on, or contributes to, the UX. As enterprises make a focus on the customer integral to their strategies, they need to recognize that technology developments are changing the customer relationship. In today's world, a great number of interactions between financial services and their customers have moved to digital environments and as a result a user interface design's significance increases in shaping the digital, financial experience.Based on this increasing importance, this paper proposes the role of usability studies for return on investment, along with a case study carried out in Kuveyt Turk Participation Bank. It involves an extended user research of online bank services which resulted with new specifications to be applied in the new corporate online banking service.
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2. User Experience In Financial Product-Services

Mainly, user experience refers what the user does and feels when he/she interacts with a product in particular conditions. There is a great number of interaction evoke a positive or negative experience between people, products and environment. (Figure 1). Cultural and social factors also influence interaction in the particular context of use. From the perspective of the user; values, emotions, expectations and prior experiences influence the user product interactions. On the other hand, products have influential factors, such as mobility and reputation (Dewey, 2005; Forlizzi & Ford, 2000; Tunen, Laukka, Luomala, 2000).

Figure 1.

User experience forms in interaction with user and product

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With the driving force of new technologies, products and services become more complex and they are not always designed for fitting user’s needs (Visser, 2009). Especially in finance sector, the services provided to users (e.g. online banking) have different products that customers use (e.g. mobile applications, websites) where customers complete the tasks they want. These services also have multiple channels (e.g. call centers) where customers need to consult and get guidance during the service experience.

On the other hand, the context, which refers to ‘the environment of human-product interaction’, has a direct influence on user experience (Polaine, Lavrans & Reason, 2013). Customers need financial services in many different contexts: such as at different places, times, with the aim of assessing different financial activities and in different financial conditions. For example, the behavior for using online money transaction services might change based on how often user does this activity or how many times he/she needs to asses it during a week. The behavior while using financial product-services might be also related to how the user engaged with technology and his/her demographics. In this sense, it is important to design the financial product-services in a more holistic approach, considering the usability issues together with understanding user needs in different contexts of use.

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3. User Experience Research Methods

There are many different research methodologies used for gathering insights from users. These methodologies involves different techniques from design, usability, ethnography fields, and especially helps understanding the reasons behind what users do and feel while they use a product (Stappers & Visser, 2011).

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