We’ve all heard the term user experience (UX) a lot in recent years, but what does UX actually mean for financial institutions and their digital payments platforms? In this blog post, we’ll let you know why UX design should be a vital part of your digital strategy. We’ll also discuss the top three factors that can make or break your borrowers’ digital payments experience.
The Value of UX Design for Financial Institutions
UX is primarily concerned with how a user feels when they interact with a product or service. These products can be tangible or digital, and the user is whomever is interacting with the product at any stage of the user journey. This means UX design encompasses all aspects of the consumer’s experience with a company and its products or services.
For example, if you look at the car buying experience, the user journey begins the moment a customer starts looking at the car dealer’s website to browse available cars. It includes going to the dealership in person to see the car, test driving it, getting the loan approved, driving it off the lot, and going online to make the first digital payment. And it doesn’t end there!
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