Usability in Financial Services Industry

28 Oct 2004 - 9:17am
9 years ago
2 replies
745 reads
Satyam
2004

Hi All,
As part of propogating UX within my organization. I am trying to
understand the maturity of the UX process in the Financial Services
Industry. (Transaction Processing, Banking, Credit e.t.c.)
If other peers working in the Financial Services Industry would like
to share any information about the maturity of the UX process, types
of UX activities pursued within their organization, it will be of
great help.
Please feel free to reply to the group or offline, and I will post the
summary. Looking forward.
Satyam

Satyam Kantamneni
User Experience Specialist
WildCard Systems, Inc.
1601 Sawgrass Corporate Parkway, Suite 300
Sunrise, FL 33323
Phone: (954) 556-2300
Email: satyam.kantamneni at wildcardsystems.com

Comments

28 Oct 2004 - 5:40pm
Listera
2004

Satyam Kantamneni:
> As part of propogating UX within my organization. I am trying to
> understand the maturity of the UX process in the Financial Services
> Industry.

Microsoft : security
Cross : vampires
UX : Financial Services Industry

OK, it's not that bad, but not that far off either. :-)

I live in the middle of Wall Street and a lot of my clients are from the
industry. There are two distinct faces of the Financial Services Industry.

The customer facing side is infinitely more progressive, competitive,
smarter and thus open to UX. They have the money and, for the right project,
they'll spend it, if you can demonstrate commensurate payback.

The internal, intranet facing side is a mess, mostly because it's still
dominated by technologists, the vast portion of whose jobs have been
outsourced offshore. The rule there is the "Java GUI Developer/Designer"
syndrome I'm sure I mentioned here before: you already have the programmer
(coding the GUI), so why not have him design the UI as well.

Here's the industry intranet 'best practice': Ship the product quickly and
cheaply, have your userbase get used to the UI, get enough complaints, hire
consultants to conduct "usability activities", pay the 10% usability tax but
reject a lot of the improvements because the userbase is used to the old UI,
move on to another product, etc.

Are there any bright spots? Sure. I came out of a meeting just three hours
ago at one of the largest of financial info companies in the world. They are
putting together a new product. They showed me good looking screenshots of
templates...which set off my cognitive overload gauge. We were then able to
have a mature and enlightened hour-long discussion on how to distill that
drastically, in abstract and architectural terms. The person I talked to
was, oddly, Creative Director tied to technology. His boss, somebody high up
*in technology*, understood the importance of UX. They are almost ready to
take a bold step, think outside that old box and integrate IA/UI/UX *from
the beginning.* What a concept!

Ziya
Nullius in Verba

29 Oct 2004 - 12:25pm
Pradyot Rai
2004

Satyam Kantamneni <kantamneni at gmail.com> wrote:
> As part of propogating UX within my organization. I am trying to
> understand the maturity of the UX process in the Financial Services
> Industry.

Such an involving topic and I see no fight/bashing/argument yet, I am
surprised :-)

Well, I can argue from both sides -- UX culture is very mature. All
that I have seen, there are some good proceses that people follow.
Most of the organizations have usability, UX, design groups and
separte roles for each others. Many of these org. have thought how to
place them (under business vs. engineering side). There are good
management sponsorships for taking up usability chanllenges and
improving the product.

On the flip side -- Products are still designed by Business Analysts.
UX/Usability folks are used as-on-basis, just as consultants. But hey,
that is only how much we have come so far. There's better signs for
tommorow. You will find many top management using the word Usability,
Ease-of-use, user expereince that anybody else.

Can anyone give me some real good banking, insurance, mortgage,
secondary, enterprise-apps example?

Thanks,

Prady

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