The mobile phone is becoming the preferred method of banking for many customers. #Bank of America just crossed the 25 million mark of mobile users, Chase has 30.1 million mobile users, and Wells Fargo has 21.2 million users. So, it’s safe to say that mobile banking is crucial to a bank’s business as well. Features […]
Bank Innovation
EXCLUSIVE— With the help of APIs and other technologies, U.S. #banks are mastering the use and sharing of data, but the #next challenge is going to be even more technical. To move forward, financial institutions are going to have to take a closer look at the user experience, Eric Hazard, CEO for #fintech venture capital […]
Bank Innovation
Labs – focus units tasked to tackle specific technologies and ideas – have been growing in popularity among #banks lately. Most established banks already have “innovation labs” – which focus on identifying #fintech trends and partnerships – in place, and many test distributed ledger #technology applications in “#blockchain labs.” USAA took a different route: the […]
Bank Innovation
#Design plays a vital role in shaping the world we live in; from the objects around us to the services we consume daily.
With increasing competition for mindshare, design is often the only differentiator for elevating a product or service from an otherwise crowded market. Small wonder, then, that a growing number of companies are turning to design in their continuous fight for relevance and growth.
However, design and creativity don’t always sit comfortably with conventional business doctrine. The discovery process that precedes great design requires that rules be broken – which usually means mistakes, and these can be perceived as wasteful failures rather than the byproduct of healthy innovation. Businesses of this mindset tend to treat design as an afterthought; often just dressing up products with a last minute costume and therefore foregoing its full potential, which is often immeasurably greater.
Design is a potent catalyst for sparking innovation and maintaining growth, yet it must be ingrained in the core of the business and given time to produce results. The perpetual journey of discovery and learning requires empathy for users, patience, and commitment – so that the end product is efficient, effective, and desirable.
At FastFin, we believe in the power of great design in everything we do. We’ve observed that successful products result from a deliberate, well-rehearsed process that places users at the center of design thinking – drawing on domain knowledge, cutting-edge #technology, and agile delivery methods.
We’ve been fortunate to work with visionaries at global #financial firms who share our passion for great design, and look forward to working with others who seek differentiation – and disruption – through design.
[linkedinbadge URL=”https://www.linkedin.com/in/emintatosian” connections=”off” mode=”icon” liname=”Emin Tatosian”] is Co-founder, FastFin and this post was originally published here: http://fastfin.co/differentiation-and-disruption-through-design/
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