Banking on good UX

User experience will be the battleground for the Irish banks’ rival to Revolut. Here’s why.

Authors

Peter KeaneDirector

A

s Revolut has scaled rapidly to reach 3 million customers in Ireland, the Irish banks AIB, Bank of Ireland and PTSB have responded with their own instant mobile payments service called Zippay, which is due for launch next year. I believe the banks have one shot at getting this right, and user experience will be key to determining if it works.

Why? Because a big part of what enabled Revolut to become so embedded in the Irish market so quickly is its ease of use, efficiency, simplicity, and speed. That’s what people now expect from fintech apps. That’s the reason why Lemonade has disrupted the US insurance market: by offering the gold standard in customer experience.

That’s where the bar is set, so the UX for Zippay has to be exceptional; it can’t be merely acceptable. From launch through to support and every stage in between, there can’t be any glitches; it has to be flawless.

How design plays into the customer experience

This is where design comes in, and by this, I don’t just mean what the front-end app screens look like. I’m referring to the whole experience for everyone involved: the people sending money and those receiving it. The solution to this is not technical, although obviously there’s a technology component. A really simple experience that simply works, just might be what will get people on board. And you only get this firstly with brilliant design and secondly with user testing.

This principle applies not just to Zippay, but to any brand embarking on a major launch of a new service or app. Basic, bread-and-butter UX is to do the research with real people. We see this over and over: it’s the most efficient and effective way to highlight any potential pitfalls in the user experience.

Here are some of the common issues to watch for in testing.

A key element is that the customer journey all makes sense in the app, and the designers and developers have managed to keep it simple. Think about a classic Revolut use case: how easy it is to split a restaurant bill between friends. Can Zippay deliver that kind of experience?

Overcoming the curse of knowledge

Messaging and labelling is another area that needs to be included in testing. Something we see happen all the time is that the internal team think that they’re designing for the user because they’re constantly working with the app themselves. But because they’re so familiar with it from regular use, the result can be blind spots or assumptions about how a service will work. We always say: “you are not your user”. External, unbiased perspective will tell you if your app is as easy to use as you think it is.

In the same vein, another sign to watch for is interactions that the designers or developers think are simple – but again, this could be because they’re familiar with the app. Real user research and testing will uncover if people intuitively grasp what they need to do, or if the design makes them unsure of what step to take.

This brings us to visual hierarchy: designers and developers have a choice of elements to put on a screen, such as buttons, images, and text. It’s vital to test what people are drawn to: ask the user group how the app’s visual elements help them to do the task they came to do; they don’t want to spend time figuring it out.

How speed shapes user perception

Another area where technology plays into the user experience is speed. There has to be no latency. The payment must feel instant, or any delay could give people pause for thought and potentially lose trust. Any lag in the speed of payment processing might lead them to wonder whether it worked or not. This obviously has a technical aspect but people perceive it as part of the experience. Most people don’t care or need to know how things work, but where money and payments are involved, they need to know it’s safe, accurate and trustworthy. Another technical aspect to include in testing is the performance loading. Can the system handle the load when multiple users are all making transactions simultaneously?

For a product to win over customers, it has to have triggers, and one of those needs to be that it’s easy. How easy will be determined by how well it’s been tested before launch.

Meeting users where they live

I’ll give Zippay credit: deciding to build the feature into all existing bank apps is a smart move. Customers will have the choice to opt-out, but in practice, I’m not sure how many people would bother to do this, so I’ll be interested to see if Zippay grabs a foothold in the market by virtue of this feature alone, and people will default to using it over time because it’s just there.

The irony for Zippay is that, as humans, we barely even notice when things work well – but we will definitely remember the things that don’t. That’s what’s at stake here.

Great experiences don’t just change our behaviour patterns, they change our language. To Google something or to WhatsApp someone are phrases that have become firmly embedded in our everyday lexicon. Think of how often we hear “I’ll Revolut you”. If, in a year or two, we hear people saying “I’ll zip you”, then it’s a good sign that Zippay has been a success.

It’s possible inertia could be the banks’ friend, and the natural human reluctance to change habits might nudge them towards Zippay over time – but I hope they’re not relying on that. I hope the user experience is so good that it will spread like wildfire. As Irish people, we might think of the banks as large entities, but Revolut’s market cap of €75 billion makes it Goliath to their David in this scenario. And personally, I always like to see the underdog win.

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