Consumers’ reliance on mobile continues to skyrocket in shopping, paying for bills, managing finances and socializing. This poses a great challenge for retailers, financial institutions and technology vendors. Digital account opening is fraught with pitfalls as the identity validation process relies on manual entry of personal information. Similarly account management uses knowledge-based authentication but can add friction to the user experience. How should retailers, banks and merchants integrate fraud protection measures into the user experience with the least amount of friction to the user?
I joined joined Al Pascual from Javelin Strategy & Research in a complimentary webinar to share lessons learned from working with leading companies that have struggled with the issue of fraud and customer experience.
We explored the following:
- Who are leaders in integrating fraud prevention into the user experience?
- Who owns the fraud prevention process in the organization?
- How to overcome legacy design issues that can underwhelm the customer experience and inhibit security measures?
- How to prevent fraud in a low-friction environment, while communicating a security-forward brand experience?
5. The Relationship Between UX and Trust
A brand must generate the trust necessary for users to engage. To them, the bank is where their relationship is and when that experience seems inconsistent it can lead to mistrust.
Banks that rely on multiple backend systems for payments, commercial services, small business banking, and lending are commonly guilty of providing an inconsistent experience.
Customers expect a trustworthy and seamless experience from their bank similar to that of Amazon, Apple, Uber, et al.
6. Reinforcing Security with Brand & Design
How to reinforce security with branding & design
•Domains & subdomains that consistently reflect the bank brand
•Single sign-on across web properties
•A unified look-and-feel across platforms (multiple websites)
•A consistent navigation structure that spans multiple platforms
•Content and design that reinforce a “trust”, “security” message
How not to do it
•Abdicate control of your user experience to third-parties
•Approach security and fraud prevention as a check-box
•Develop multiple mobile apps