This article was first published in The Financial Brand.
Throughout the banking industry, there are remnants of the legacy paper banking world that remain embedded in online banking, creating friction and hindering the movement to a more consumer-centric digital experience. These remnants are poorly designed, reducing people’s ability to interpret financial information and make good decisions about their finances.
The first generation of online banking sites and apps basically took banks’ internal core systems and presented them on the web. So, an online banking home screen was not dissimilar to what a bank employee would have seen on their own green screen monitor – except less green. And, of course, those IT systems were in turn built off even older paper systems that dated back to the early days of banking.
This is why the first screen of most online banking experiences look virtually the same in terms of design standards, experience and capability. Only the colors differ.
Here is a quick sampling of twelve relatively similar designs.
In the digital age, it’s time to cut the cord of history and deliver better experiences for customers. Here are three legacy ‘standards’ that need to change if we are to embrace the digital revolution in banking.