Fading Money

UX LAUSANNE 2015
FADING
MONEYAntonio De Pasquale
@myinteraction • #fadingmoney

Hi, I’m Antonio De Pasquale
@myinteraction
Senior Interaction Designer at frog Milan

UXLausanne2015 | #fadingMoney @myinteraction
Let’s clarify

We will not be talking
about this fading money!

WE WILL
TALK ABOUT
BANKS
& MONEY

WE WILL
TALK ABOUT
BANKS VS
COMPLEXITY

WE WILL
TALK ABOUT
BANKS
& PEOPLE

FADING
MONEY
The evolution of banking
A modern customer experience
Trading for everyone
A bank of relationship

ANALOG TO
DIGITAL EXPERIENCES
THE EVOLUTION
OF BANKING
EXPERIENCE
STRATEGY
MARKET
EVOLUTION

“Financial services disruption is the
next huge market to be taken”
Fred Wilson

The roadmap to innovation
Most major payment innovations have occurred in the last 15 years
Credit cards
Nov 13 - The financial Brand
ATMs
Debit cards
Online banking
First branchless bank
PayPal launched
Mobile eWallets
Tablet banking
Square mobile payments
NFC
Mobile banking
P2P mobile
payments
Mobile check deposit
Coin cards
1940 1950 1960 1970 1980 1990 2000 2010

From industrial economy
The evolution from focusing on product and transactions…
High transaction
costs
Vertically
integrated
Product  
& transactions
Information
scarcity
Payments Insurance &
risk management
Capital markets
& trading
Wealth & asset
management
Retail banking &
consumer finance
Business &
corporate banking

To the information economy
Low transaction
costs
Platform
& Apps
Customer
experience
Information abundance
Payments
Insurance &
risk management
Retail banking &
consumer finance
Business &
corporate banking
…to focusing on customer experience, in a world of everything as a service.
Capital markets
& trading
Highly
networked
Service oriented
Wealth & asset
management

The shift to digital
The evolution from traditional banking to digital services  
has changed completely the role of touchpoint in the banking experience
Retail C. ServiceATM Desktop/ Tablet Mobile devices
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Monthly Frequency

The long chain to data
Customer behaviour shift: instant content
visualisation & seamless payment functionality
ProcessesTechnology SystemsData
User

Building a Cross-Channel strategy
Traditional bank started building a cross channel strategy by adding
additional touchpoints to their structure trying not to lose users
User
ATM
Web
Advisor Branch
WearableApps

New credit cards are taking place
Many new pure digital players are entering in the transaction game to take
over the business of the “highways of money” and disrupt the market
Apple Pay CurrentC Google Wallet

New players are disrupting the market
Emerging start-ups are disrupting the market from the ground,
both for personal banking and small business
Personal Small Business
Transferwise
Simple Bank
Square
Ware

New coin are going mainstream
New currency are becoming adult. A P2P money is fighting to became a currency while
a private credit is acquiring the largest audience in the world
Open Source Trademark

UserUserUser
Why is that happening?
A new breed of customer will dominate the market.  
It’s the age of Digital Natives
2005 2010 2015 2020 2025
Traditional Consumer Transitionals Digital Natives
FinTech Customers: The Digital Natives

A new set of toys
Old technology are substituted by new, smart devices that facilitate and
extend the customer journey in many directions.

A better integration
Improving the needs of everyone by connecting all the different worlds
Business Tech
Customer
Direct editing
Full digital experience
Cross & Up-sell Mkt
Service integration
Security & Legacy
Agile development
Seamless
experience
Personal  
& relevant
Realtime & Context aware

A MODERN
USER EXPERIENCE
NEW
BEHAVIOURS
A CIRCULAR
JOURNEY
IMPROVING
THE GAPS

“We need banking, but
we don’t need banks anymore ”
Bill Gates

New UX are setting the Bar
Modern services are setting the user expectation when it comes  
to digital software and native applications
Coin Apple Touch ID Messenger Payments

Stratos Card
https://www.youtube.com/watch?v=txcv9PJjYGU

New users are changing their habits
The New User wants simple but powerful user experiences, tailored precisely
to the needs, with all of the gears working quietly in the background
Splitwise Digit Ready for Zero

New technologies to support UX
Technology improvements are facilitating the approaches on the UX level
Speed
Content caching
Data compression
Flexible layout
CSS basedMODERN UX
Responsive website
Backward compatibility
Screen resolution
MULTI-CHANNEL
Active and passive customisation
System intelligence in presenting content
PERSONALISATION
Quick integration of new services (Custom development)
Third party integration (API)
Delivery roadmap
PERFORMANCE
MODULARITY
Pixel depth
Touch enabled experience
Compression
Charts engine
Typography
Front
Back

How are Banks reacting?!

A new Customer Journey
Banking is changing: the big change is in the way users are approaching
their financial assets and how they are hanging them along the journey.
CHECK  
& PAY
MANAGE  
& SAVE
FINANCING SUPPORT 
& LEARNING
BUY  
& INVEST
DISCOVER  
& SUBSCRIBE

DISCOVER  
& SUBSCRIBE
LEARN
Clear value proposition
ACTIVATE
Access with no barriers
LANDING
All I need at a glance
The customer understands the
unique value proposition and
learns the service value before
creating an account.
Highlight the main areas and
features to provide a general
overview of the current status.
Facilitate activation process for
prospect clients and simplify
the access for current users.

CHECK  
& PAY
CHECK
Understand my status easily.
PAY
Quick & Smart payments
Control my daily activities,
verify credit and expenses
at a glance.
Facilitate payments and
improve repeated actions with
smart interactions.

MANAGE  
& SAVE
ANALYSE
Understand my habits
SAVE
Saving to achieve my goals
CUSTOMIZE
A personalised experience
A powerful history that offers a
clear summary of my account
usage and reminds me of
significant events.
An home banking that adapts
itself to my needs and allows
me to customise smart actions
that I use frequently.
A system that helps me in
achieving my short and long
terms goals, challenging me in
a positive way.

BUY 
& INVEST
PLAN
Planning for the future
BUY
Just buy in an easy way
COMPARE
Facilitate selection
Simulate forecast scenario to
better understand long term
future goals and investment
opportunity
Create wishlist to help users
starting discussion with friends or
professional consultant to better
evaluate their final decision.
A bank that look like my
favourite e-commerce where I
can buy something with just
one click without problems.

CONFIGURE
A tailored offer for you
BUY
A more integrated purchase
Personalise insurance & loans
in self service mode with the
right support and save it as a
temporary selection.
Facilitate the final conversion
without losing control of the
offline process.
FINANCING
COMPARE
Facilitate selection
Compare multiple configurations
to start a discussion with friends  
or professional consultant to better
evaluate my final decision.

SUPPORT  
& LEARNING
GUIDE
Smart suggestions & live help
ADVISE
Learning finance with fun
SUPPORT
Cross touchpoint smartness
Learn while doing, discovering
tips & tricks for a better use
and being able to search help
with the problem in focus.
The users deals with many
devices & technology and they
need to interact with their banks
in the same easy way as they do
with their friends network
A service the improve my
knowledge in financial topics
and teach me how to do a quick
payment or how to start
investing in funds.

TRADING FOR
EVERYONE
FINANCIAL
KNOWLEDGE
INVESTMENT &
TRADING
ADVISORY &
ACADEMY

“The role of genius is not to
complicate the simple, but to simplify
the complicated.”
Criss Jami

A simple quiz
It’s your turn, write down your answers and check your score!
Suppose you had $100 in a savings
account and the interest rate  
was 2% per year.
After 5 years, how much do you
think you would have in the account
if you left the money to grow?
More than $102
Exactly $102
Less than $102
A
B
C
Do not knowD
1

A
B
C
D
A simple quiz
Imagine that the interest rate on
your savings account is 1% per year
and inﬂation is 2% per year.
After 1 year,  
would you be able to buy …
More than
Exactly the same as
Less than today
2
Do not know

A
B
C
A simple quiz
Do you think that the following
statement is true or false?
“Buying a single company stock
usually provides a safer return
than a stock mutual fund.”
True
False
Do not know
3

The importance of Financial Literacy
A fast-changing world economy makes financial ignorance  
more dangerous than ever before.
The Economic Importance of Financial Literacy: Theory and Evidence
53% 50%
31%
27%
21%
4%
Quiz Solution: 1A, 2C, 3B
% User that got
a full score
USA  
Self rating
7
0
6
5
3
2
1
430%

Credit Crunch effect on saving
The credit crunch turned into a financial crisis and interest rates were slashed,
hitting savers and ushering in an era of uncertainty and austerity.
5.8 %
Apr 2015Dec 2007
1.4 %
6.0
4.5
3.0
1.5
0.0

The Wolf of Wall Street
https://www.youtube.com/watch?v=c1Vtzn3MZyA

Making Money Grow
With low saving interest, Users are looking for new solutions to protect
and grow their investments, but online trading is still a strong blocker.
??

Smart manager & Dynamic Goal
Intelligent software learns from your habits and supports you to
accomplish your saving goals, visualising your expenses patterns
Numbrs, SImpleBank, Toshl

Financial Simulator
Build a financial plan starting from your needs. Smart advisor helps people to better
manage and grow their wealth for a fraction of the cost of traditional financial services.
Wealthfront, Betterment

User to User advisory
Financial services meet social networks. P2P suggestions help Users  
to play with virtual portfolio and challenge other users.
Stocktwits, eToro

The gamiﬁcation of banking
A new way to train and learn, helping industries meet the complex challenges  
presented by the modern world and taking them to the next level
whyMoolah, CommonWealth Investorville

A Bank Academy
Teaching finance in a way that is less intimating, more memorable,  
easier to understand, and it’s just simply more fun
Edukate, Wall Street Survivor

A BANK OF
RELATIONSHIP
THE ROLE OF 
BRANCHES
A PLATFORM  
TO CONNECT
EXPERIENCE
PILLARS

“No candle-maker has become a bulb
manufacturer, no carriage-maker has
become a car producer and the post
ofﬁce did not invent the email”
Marc Giget
Club de Paris des Directeurs d’Innovation

Ford Model T Production
Uber Black Service
WE ARE LIVING
IN THE
EXPERIENCE
ECONOMY

Banking
SAAS
A digital relationship
Technology & processes
Operations agility
Time-to-market agility
Compliance agility
Digital services are always evolving and banks should transform
themselves to follow their customers, transforming their assets
Traditional
Banking

The role of Branches
Transforming the branches means improving their performance enabling
both an emotional space for relationship and quick operational tasks
CheBanca branch, Ziraat Bankası ATM

Smart self services devices
In wealthier countries Banks are looking at advanced ATMs  
as a cheaper alternative to branches.
BBVA Concept ATM, Chase Bank ATM

Chase Bank
https://www.chase.com/news/111614-branch-of-the-future

A virtual branch for everyone
Evolving from a basic service desk to a new space for listening
to the customers and establishing an emotional relationship
Bank Audi Novo, Simple Bank, ASB Virtual Branch

An extended Customer Journey
Integrating the branch as an extended touchpoint of the digital experience,
reducing the distance between the physical and digital world.
7 AM
DIGITAL
A C T I V I T I E S
ANALOG
22 AM

A platform to connect
Connecting multiple channels & service to be the transaction leader
API
WEALTH & A SSET
MA NAGEMEN T
PERSON AL
MONITOR ING
PAYM ENT
SERVICES
INSURANCE &
FINANCING

The big data Alchemy
Big Data provides a more personal assistance and helps banks with
detailed information on their clients crafting personalised solutions.
1 0 1 0 1 0 1 1 1
0 0 0 1 1 1 0 1 0
0 1 1 0 1 0 1 0 0
C
1 0 1 0 1 0 1 1 1
0 0 0 1 1 1 0 1 0
0 1 1 0 1 0 1 0 0
B
A

HOW CAN WE DESIGN  
THE NEXT BANK?

FAST & PERSONAL
MODULAR PLATFORM
SMART COMPANION
INSPIRING + EDUCATIONAL
The Experience pillars
For the next generation of home banking services

Facilitating daily operations and organising data
& information in a meaningful way for the Users.
FAST &
PERSONAL

A scalable and future-proof service that can be
extended easily adapting to the next user needs.
MODULAR
PLATFORM

Supporting the users and anticipating their needs  
with personalised solutions.
SMART
COMPANION

Helping the users in their growth while
suggesting new solutions to their problems.
INSPIRING +  
EDUCATIONAL

INTRODUCTION“The art of simplicity  
is a puzzle of complexity”
Douglas Horton

Fading Money

Recommandé

Recommandé

Contenu connexe

Tendances

Tendances (20)

En vedette

En vedette (20)

Similaire à Fading Money

Similaire à Fading Money (20)

Plus de Antonio De Pasquale

Plus de Antonio De Pasquale (6)

Dernier

Dernier (20)

Fading Money