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Banking Industry

What is the banking industry and how is it affected by design?

The banking industry is defined by all the offline and online infrastructure that handles money (cash and cashless), credit, transfers and hundreds of other financial transactions or services. 

Today, we all see global digital transformation in banking that digitizes the banking industry. Bank customers prefer to use mobile banking or desktop solutions and minimize their time visiting bank branches. Thousands of branches are closed, and millions of bankers will lose their jobs in the banking industry in the next decade.

The financial industry actively switches to digital products and is disrupted by Fintech solutions. The Fintech industry provides a modern service for banking customers based on the latest technology in the banking industry. Fintech uses User-Centered Design and a UX approach to deliver the best possible solutions for users worldwide. 

The banking sector must integrate a design approach and user centricity deep into its operational and strategy model to compete with Fintech for the digital future.

Check out the best articles by UXDA about the banking industry and the power of design.

UXDA Wins the Prestigious UX Design Award 2022

UXDA team's work has been awarded by the global design competition for excellent experiences - The UX Design Awards 2022.

Financial Services In The Metaverse: The Glue For A Creative Economy

The metaverse will become the next global milestone after the digital transformation in the next few decades.

Big Tech or Big Curse on the Banking Experience?

As part of global digitalization, Big Tech is using its power and resources to expand into the financial industry, but only a diversity of financial alternatives and healthy competition will ensure a customer-centric development in the financial industry.

Future Banking Trends 2023: Democratizing the Financial Experience

The lightning-fast development of technologies is fundamentally changing the concept of finance and money.

Why Non-Purpose-Driven Banks Are Losing Customers

How can purpose-driven banking save banks from losing millions? The main challenge is how to align banking services and products with a human-centered purpose.

🎧 Digital Banking Customer Experience Trends for the Breakthrough

What is needed to achieve a breakthrough in the post-pandemic world? Here are 10 digital banking customer experience trends to find the right strategy.

10 Digital Banking Design Trends: Innovation Ideas for the Financial UX

The UXDA team has highlighted 10 design trends that demonstrate the evolution of digital financial products and the way financial interfaces are created and perceived by the users.

Digital Banking CX Transformation VS Digital Transformation

Why might digital financial products lack a market need? In times when marketing is losing its power, digital banking CX / UX design comes to the rescue.

🎧 Empower The Banking Digital Transformation With Experience Design

To ensure a successful digital transformation in banking, the primary focus should be switched from digital to experience transformation.

Banking Industry Cuts Millions of Jobs Forced by AI and Digitization in Banking

Million of bank employees will lose their jobs in next decade, and the reason for that is technology: digitization in banking, AI in banking.

Fintech's Disruption In The Banking Industry Is Driven By UX Design

Statistics on how and why Fintech use design to disrupt banking industry. What can we learn from it to gain success?