In order to address the changing demographics, banks need innovative solutions to attract new customers and retain existing ones. Banking organisations must use digital touchpoints to fulfil specific needs, pain points and expectations. The modern customer expects the bank to provide a seamless, consistent and secured service across all sectors. Banks must use behavioural modelling tactics to estimate how individuals are likely to use their services and perceive value out of it.
we have conducted extensive research across many consumer segments and identified some common usage patterns in similar age group consumers. Based on our study, we have broadly classified the target users into three categories based on their age and propensity to adopt new technologies.
With people getting more aware of digital security, a good design and user experience always counter the same. People tend to think less when experience is good.Most of the best banks in India are thoroughly aware of their target audience but are negligent towards customer’s actual pain points & motivations. To address the unique pain points and expectations of every customer segment, banks must empathise with the customer and develop user personas. This process involves in-depth research of the user’s behaviour, challenges and motivation with the existing service. Digital transformation in banking can create more immersive user experiences.Millennials who are not too proactive in managing and tracking their expenditure find the process of online banking complicated. This, in return, further fuels their disinterest. Empathy designing is a process that enables the service provider to step into the shoes of customers and perceive value out of the current offering from their point of view. This process helps to develop a holistic solution covering the entire banking journey of a customer right from opening an account to managing their portfolio online. This process also helps to add or eliminate features depending on their usability and demand.