UX is linked to the offering of a product, service, or even a process, and how it aligns with user needs to make the interaction as satisfying as possible. On the other hand, UI is the external layer with which online users interact; that is to say, the visible part of a digital platform interface (icons, fonts, buttons, forms, and more).
The UX interacts with different economic sectors that need to transform their processes to provide better customer service. A good example of this is the banking industry, where most transactions involve processing forms and signing documents. This transformation goes beyond what users perceive; the internal procedural changes go deep since they need to ensure that the security and authenticity of the information received is guaranteed. It is important that we understand that creating simpler user procedures does not mean that they are unstable, it is a move towards higher efficiency that should lead to increased agility.
Simple doesn’t equal weak. Simple means easier and faster to use. Organizations should keep in mind that users want simple and secure processes. This is where the UX comes into play, making the preferences of those who use the organization’s services an important factor in deciding with whom they do business.
The impact of user experience
in a digital world
In recent years, digital transformation has advanced at an accelerated pace, but like any other change, it must occur at every level. This transformation must be not only technological but also cultural, driven by and created for all members of the ecosystem. A change in tools and methods by itself will not make a substantial difference. This is where user impact will determine the success of the evolution.
Despite all the efforts toward growth and development in the digital arena, many people are not evolving with market demands. Much of the population without access to banking services face a paradigm shift with the introduction of digital environments, compounded by other factors such as living in isolated locations or having poor access to the Internet or smart devices.
This begs the question: What will happen to this process of digital transformation?
It is up to the players in this digital ecosystem to understand the communities they serve and identify factors that will help them embrace the digital environment. We need to recognize user fears and lack of knowledge or experience with technological tools and products and address these. We also need to make sure that our offerings are accessible and available to the users who need them: this is key to generate change.
Latin America has a long road ahead in terms of digitalizing payment methods and the digital purchase experience. Nonetheless, institutions are starting to understand that the right path includes bringing processes to the cloud to add agility and scalability and providing easy and secure transaction options to ensure an optimal purchase experience. This applies to all sorts of transactions, from placing an order at a restaurant or pharmacy to paying bills and buying products/services to the delivery of a product or service purchased; in summary, we need to think about the end-to-end processes that will benefit users’ daily lives in one way or another.
Challenges in the digitalization ecosystem
Regulatory
Solutions can go only as far as the regulations in each country allow. Therefore, it is essential for organizations that opt to digitalize their offerings to know both the national and international legal framework that apply to the expansion of these services. This will help avoid interruptions and delays that can lead to a negative user experience.
Cultural
Users who do not form part of the digital ecosystem should receive training. Oftentimes, the reluctance to go digital stems from a lack of information and knowledge about the benefits of these digital products and/or services.
Payment methods
It is important to provide multiple entry points and forms of payments for users joining digital channels, such as wallets, QR codes, tokens, links, and gateways, among others: having a variety of options enhances the user experience.
Agile service model
An optimal process will meet the final user's expectations in terms of time, delivery, and quality. A failure to address any of these factors may lead to a less-than-optimal experience and affect the entire equation.
Benefits of implementing strategies
centered around user experience
Recurrence
The more users utilize the different channels, the more the channels are optimized with their feedback and behaviors. This positively impacts all stakeholders, such as businesses, acquirers, or issuers.
Profitable payment models
Today, models like “Buy now, pay later” (BNPL) are improving satisfaction among users, since they provide the user with immediacy of purchase linked to a low-interest rate and, at the same time, offers a more cost-effective solution for the businesses offering this model.
Higher traffic
Being recognized as an innovative brand that offers a user-oriented purchase experience will generate positive reactions to the services offered. This will motivate users to remain loyal to the business and become repeat customers.
High conversion rates
There is no point in having many users if, at the end of the day, they cannot complete their purchase due to complicated processes. Organizations must offer tools and solutions that are intuitive for a consumer to use and interact with.
Aside from a well-thought-out strategy that serves to satisfy user needs, additional tools may be used that are not necessarily technological. These include:
- Active listening: There is no better tool than listening to what a user has to say. Getting to know their needs is essential in user-experience-focused decision-making.
- Observe certain groups of users: Employing user behavioral analysis tools at any point will help dictate the correct path forward.
- Rating a product/service: The comments section on your website is the best indicator of whether the changes implemented are creating a positive experience or not. These can give you valuable insight into areas that may require additional action.
In conclusion, these recommendations can be addressed by optimizing processes to adjust to this new digital reality. Although there are no universal UX rules, industries must be aware of the need for change, and focus on breaching gaps between the digital ecosystem’s actors and providing easy, secure, and intuitive digital experiences for the consumer in the digital world.
– Johan Arango
Product Manager – Evertec Medellín
