How Digital Design Influences the Financial Sector

7th January 2020 by Kris Byers

Financial institutions innovate in fintech. Some 77% intend to step up their internal efforts to innovate. An important part of this is to study trends in website design in order to introduce the latest technologies. 

The aim is to better serve customers and remain competitive in an ever-changing and fast-growing industry. Learn how an experienced website design can benefit your financial company.

Buy Talent

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The main brands in the financial industry are acquired by independent design agencies. In particular, Capital One has achieved an adaptive path. Thanks to this strategy, a financial company is looking for a design house to purchase. 

This business merger benefits everyone. A creative agency can focus on their projects and not worry about starting new businesses. A financial institution wins by creating more value for its current offering and opening up new sources of income. 

Building from the inside

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Capital one not only acquired the adaptation path, but also created its own design team in the UK. This is another popular trend now in the financial sector. Instead of buying a design agency, the company creates a design team from within. 

Companies that make this strategy effective understand that the development team cannot be autonomous; they must work with all other departments, from product development to final delivery. 

Obligation to the customer

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Sberbank, a 177-year-old Russian financial institution, is implementing artificial intelligence technology to increase customer engagement. AI competitions and demonstration days are regularly held, during which startups can demonstrate their innovations in the field of artificial intelligence. These startups cooperate with Sberbank to finance their startups. 

Sberbank uses these events, working with the finalists to develop and ultimately integrate innovations in the processes and systems of the bank. One notable innovation was the use of artificial intelligence to create tools for managing large data sets. 

Effective information transfer

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About 55% of visitors spend less than 15 seconds on the site. With such a short attention span, financial institutions need a clear and intuitive design. This applies to both the site and mobile apps. 

Standard insurance has launched an updated website based on customer feedback. The site is mobile friendly, easy to navigate and provides the most essential resources. This enables them to effectively communicate key information to customers. 

Automation

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Automation can streamline and simplify processes, increasing productivity by removing repetitive daily tasks from your to-do list. Real estate companies are making extensive use of this fintech development. In 2017, more than $ 5.5 billion was invested in technology and real estate design. 

Automation can bring benefits in several areas: 

Communication by e-mail 

Leasing activities 

Chart 

Lead collection 

Property management 

Accounting and finance 

Modern Trends In Website Design

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The ultimate goal is to seamlessly combine financial business with design thinking and technology. This would enable them to create an authentic, more appropriate and human-oriented user interface. 

Send an email or make an appointment today and let's talk about how we can help your business. 

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