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Millions in Profit from Branchless Banking: Fintech Product Design Challenges the Rules
- Banks are being redefined in the digital age, with ease, efficiency and functionality the core elements defining a bank’s brand and business.
- The digital user experience (UX) has become the main touchpoint through which the bank’s brand is communicated and experienced.
- Product design and UX is key to profitability in modern banking, but many offerings focus too narrowly on functionality, neglecting the importance of the user’s emotional experience.
- Banks must work to understand the needs and pain points of users, adopting a user-centered product design approach and embracing emotionally engaging customer experiences.
- Banks that prioritize product design and UX will be better equipped to adapt to new technologies and changing customer expectations.
- Superior product design, UX design and personalization capabilities help banks differentiate themselves in a crowded market, drive customer acquisition and retention and reduce costs.
- In a future where technology continues to evolve rapidly, banks that prioritize product design and UX will be better equipped to adapt to new technologies and customer expectations.
- Superior product design and UX determine how a bank can attract, engage and retain customers, manage operational costs, differentiate itself and adapt to future technological changes.
- They are the drivers of profitability and digital ROI for banks in the digital age.
- Quality of the digital interaction shapes the view of the bank’s reliability, innovation and customer focus.
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