This WSJ piece speaks to the UX focus for end-users at work, which is nothing new for readers here since we all face this and is one main reason why the new fintech surge exists. While an easy UX is still primarily the domain of consumer software in general and fintech especially, the business (or B2B) space has been attempting to emulate this approach during the past couple of years.
The ability to ‘consumerize’ the UX is a key for success over the next half-decade. The author uses an example from a Citi situation to make the point. Some readers will recall a massive and mistaken loan payment sent out by Citi in 2020.
‘In the ensuing litigation as Citi tried to recoup the money, the bank shared images from its software. The screenshots showed a user interface with dense type, low contrast and small buttons and boxes….It is the kind of design that would make executives at consumer-facing companies cringe, including banks offering brightly lit and easy-to-use apps to their checking, savings and credit-card customers, designers and analysts said. But it hardly stands out in a business environment, they said. While people look for best-in-class user experiences as consumers, they are often forced to check those kinds of expectations at the office door.’
When back office software goes back 20 years this is what can happen. In our 2021 Outlook one of the main success themes for banks is a collaboration to ease the experience, since most institutions do not have the technical savvy to create solutions to meet demand. So this is a key for the next X years as the industry transitions, particularly with regard to mobile capabilities. Not to mention the acceleration factor from the pandemic, which has just placed a higher emphasis on digital financial operations.
‘The good news for workers squinting at dimly lit designs is that the consumer sector is putting pressure on businesses to provide better digital experiences for both clients and employees, according to software executives….“They’re having an influx of users who are demanding easier, simpler, more modern experiences,” said Todd Olson, chief executive of Pendo.io Inc., a product-engagement software company that offers services such as user onboarding and training….However, while changing relatively obvious elements in the user interface can help, that doesn’t always address deeper problems, he said. Companies might need to analyze how long users are spending on certain forms or where they pause, for example, to understand which changes to make.’
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group
