What are the best practices for designing customer-centric digital finance solutions?

The user experience is the most important. Map out the entire customer journey to identify touchpoints and moments that matter. Co-create with customers. Ensure your digital solutions are accessible on various devices Use data analytics to provide personalized financial advice, product recommendations, and offers based on the user’s behavior and preferences. Customer-centric design is an ongoing process. Regularly assess and refine your digital finance solutions to meet evolving customer expectations and deliver exceptional experiences

We often begin our customers' digital transformation journey by targeting their Finance and Accounting processes, improving complex finance functions. Finance teams must deliver crucial data indicating their market position and profitability. Core processes of Accounts Payable and Receivables, PO and Sales Order processes need to be efficient but moreover error-free. Often, outdated operations lead to late payments, long approvals, errors, and disorganisation. Thoroughly review customers current ways of working, assess ROI accurately and validate associated costs. Your findings will demonstrate value. Align a secure testing environment for refinement, and remain close during the launch phase for seamless integration and sustained success.

1. By using surveys and interviews, delve into your customers' financial lives, gaining insights beyond mere data points. 2. Analytics serve as a guide to spotting behavioral patterns and trends, revealing what users genuinely need and want. 3. Visualize the customer journey through personas and maps, pinpointing where users feel joy or frustration. 4. Feedback directly from users should guide feature prioritization, ensuring solutions tackle genuine issues. 5. Adapt and evolve your digital finance solutions by staying attuned to changing customer needs and maintaining agility and relevance.

Comprender al cliente es básico en cualquier proyecto y particularmente para el área financiera, requiere de mucho más detalle de mucha segmentación y análisis del comportamiento. Usar la metodología científica siempre es útil en el análisis, así podemos probar y cambiar a medida que evaluamos, las startups comienzan con el mapa de empatía, seguido de la identificación de un avatar para luego hacer un lienzo de propuesta de valor, con estos componentes definidos tienes una visión más clara de quién es tu cliente. Por otro lado puedes probar gustos mediante test A/B en la web o a través de campa?as de correo, inclusive en las mismas entrevistas puedes ir variando las preguntas para ver cuál tiene mayor impacto en el conocimiento del cliente

One of the missing opportunities in digital finance resides in the value of user-centricity. Would you happen to know how busy your customers are? How much time do they have? How easy are your solutions? Are they accessible to disabled and older users? Personas are important without question, but Inclusive design and accessibility are far more important because they will benefit everyone.

Una aproximación rápida a las necesidades del cliente te ayuda a conocerlo mejor y cambiar rápidamente si algo realmente que se había pensado de una forma no corresponde a la realidad del problema. Plantea brainstormings con varios clientes tipo a la vez, en los cuales les haces planteamientos de ese problema en cuestión para que cada uno aporte desde su perspectiva como lo resolvería y que pasos daría, sin plantearle de momento tu solución, recuerda que se busca conocer el accionar del cliente, no es ideal sesgarlo porque la respuesta no será natural, así mismo has preguntas abiertas a su criterio en vez de solo realizar preguntar de sí o no. Esto te dará una mejor comprensión y material útil de análisis a tu posible solución.

Co-creating with customers is paramount in designing customer-centric digital finance solutions. Engaging them in the design process ensures solutions align with their needs and preferences. This collaborative approach fosters a deep understanding of user expectations, leading to intuitive interfaces and personalized features. It's not just about meeting expectations; it's about exceeding them by incorporating real-time feedback. In the dynamic landscape of digital finance, continuous collaboration is key to staying ahead, creating solutions that truly resonate with and empower the end-user.

For co-creating with the customer the most effective tool which I use is the digital thinking approach. For this normally have a framework which last around 6 - 12 weeks based on the scope I will looking to co-create and output of that is a great mockup which is ready for the minimum viable product (MVP) development.

Engaging customers in co-creation activities allows you to uncover hidden or unmet needs that may not be apparent through traditional research methods. Involving customers in the co-creation process demonstrates that their opinions and input are valued, fostering a sense of ownership and investment in the final product. By co-creating with your customers, you can create digital finance solutions that are not only functional and user-friendly but also truly resonant with their needs and aspirations.??

La usabilidad es importante para que exista fluidez en que el cliente opera la solución planteada, sin embargo, también puedes aplicar lo contrario, has una versión de la solución en la cual tenga varios impedimentos o que sea difícil de usar o que se ponga muchos problemas para llegar a ese resultado esperado. De esta forma estarás probando que tanto estará dispuesto el usuario a conseguir la solución, sabemos que las soluciones financieras siempre conllevan mucho trámite, pero si la solución es realmente requerida y deseada, probarás que tienes la razón si el cliente sortea todos esas piedras en su camino. El resto ya viene de mejorar la interfaz y aplicar gamificación para hacerlo entretenido, las finanzas siguen siendo un tema difícil.

As some said, the able and people with disabilities aren’t two different kinds of people but the same people at other times. If you keep this in mind and ensure your services and solutions are easily understood by everyone, regardless of their literacy or disability, you can easily win over more customers and, in some cases, bring their families to you because they value the power of inclusion in digital finance solutions.

For optimizing the user experience in my career in digital finance customers most care about these 3 - UI/UX - Performance - Security So for me, normally I get the UI/UX tested and developed in the earlier phase by using my design thinking approach. Then when developing the product, I focus on doing the usability test. Where I give people to use the app without giving them any instructions and watch how they interact with the app. This normally turns the app into a great experience app.

Optimizing user experience (UX) in digital finance solutions is paramount.?? I strongly emphasize that by prioritizing usability, functionality, aesthetics, accessibility, engagement, and consideration of users' context, we can create seamless, intuitive, and compelling experiences that meet users' needs and foster long-term engagement and loyalty. ??

To design customer-centric digital finance solutions, prioritize user experience optimization. Simplify navigation, ensure mobile responsiveness, and personalize interfaces for seamless interactions. Embrace data-driven insights to understand user behavior and preferences. Implement robust security measures to build trust. Enable effortless transactions and provide transparent, accessible financial information. Continuously iterate based on user feedback to refine and enhance the overall customer journey. By placing user experience at the forefront, digital finance solutions can truly meet the evolving needs of customers.

Los datos son una fortaleza para quien sabe como usarlos, y no solo por los datos que tenemos si no también a los que podemos acceder. El reto está en obtener la información y preparar la arquitectura para que tengamos procesos y mentalidad abierta al uso adecuado de herramientas y a la explotación de datos.

While collecting data for analysis is integral to business and building a customer-centric app, the secret also lies in enabling your customers to choose their experience. - Implement data minimalism — choose the most useful data for analysis that provides deep insights, not collecting all possible data, reducing friction and enhancing trust. - Offer customer-controlled data models — allow customers to decide what personal data they want to share and how it should be used. Also, create adaptive learning algorithms — avoid static AI models and prefer algorithms that continuously learn from new data, adjusting financial advice, product recommendations, or even fraud detection protocols in real time.

The strategies that served me well on this aspect for leveraging data and technology - Develop a great decision-making data tool with excellent UI/UX - Develop data driven organization by equipping the leadership team and executives with data tool - Normally seniors leaders tends to ignore this -Take the advantages of automating small decisions by AI - Develop digital products and services for the customers to add more revenue streams for the company. - Develop digital services for the internal teams to reduces their operational cost and optimize them

As the financial services industry historically had to rely on data due to strict regulations, switching from the perspective of "being compliant" to "leveraging data" is critical among incumbents. Building the environment and making it accessible is just the first step, and it's hard to see many organizations still missing this. Proper and fast planning that builds on a modular architecture is the best way to leverage technology on greenfield projects. This could mean utilizing 3rd party providers too so you can launch fast and iterate. You can only strengthen technology regarding legacy systems with a brave mindset that starts with shifting the "don't touch things that work" status quo to supporting modern architecture.

Leveraging data and technology plays a crucial role in crafting customer-centric digital finance solutions. By effectively harnessing customer data collected from various sources such as transactions, interactions, and behaviors, financial institutions can gain valuable insights into customer needs, preferences, and behaviors. Moreover, innovative technologies like artificial intelligence (AI), blockchain, and biometrics offer transformative capabilities for digital finance.??

La cultura es la que traduce la estrategia en acciones y comportamientos que producen los resultados. todos conocemos la famosa frase “La cultura se come como desayuno a la estrategia”, pero hagamos un gran esfuerzo para que esto no suceda! La estrategia debe ser lo suficientemente adaptable y flexible al entorno, al mercado, a los clientes que tenemos y que queremos enamorar. Si la estrategia es rígida, ganara la cultura de los que no quieren innovar, por eso es fundamental la elasticidad de las estrategias para interpretar el mercado y los clientes y pivotear rápido para redefinir sus objetivos, si es necesario.

From my vantage point, ensuring alignment between organizational culture and customer-centric strategy is a linchpin. It's not merely about policies; it's about ingraining a mindset where every team member sees themselves as custodians of exceptional customer experiences. Aligning our internal culture has been instrumental in consistently delivering on our customer-centric promises

Aligning culture and strategy is paramount for designing customer-centric digital finance solutions. By fostering a culture that prioritizes customer needs and values, organizations can ensure that their strategies, processes, and resources are all geared towards delivering exceptional customer experiences. Methods like agile and design thinking provide frameworks for fostering innovation and customer-centricity throughout the organization, ultimately driving success in the digital finance landscape.??

This is so simple to understand but very difficult to implement. As any organisation grows, it splits into several organisational units with each entity having it's specific set of goals. The initial and central goal of building a customer-centric solution fades away in the chase of individual goals. The only way to keep the organisation aligned is the embed the core values in the culture of organisation.

The following strategies served me well in this - Constantly listen to the customers and their expectations. - Key an eye on the competitors in their innovative approaches and features - Stay on the hunt to understand and approach new technology and study the feasibility of adopting them - Adopt design thinking methodology and restless innovation culture which ensure solutions stay ahead and are always up to date - Develop a performance tracking dashboard that keeps up the different success parameters for the team and leadership members.

The final step in designing customer-centric digital finance solutions is continuous learning and adaptation. Monitor performance, measure outcomes, and learn from successes and failures. Adapt to evolving customer needs and market expectations by innovating and improving solutions. Utilize tools like analytics, dashboards, feedback, and experiments to facilitate continuous learning and adaptation, ensuring solutions remain relevant and effective over time.

Embrace a culture of experimentation and learning to stay agile and responsive to evolving customer preferences and market dynamics. Monitor industry trends, competitive developments, and customer feedback to identify opportunities for innovation and improvement.

Reflecting on my experiences, the world of digital finance demands continuous learning. The landscape evolves, and staying relevant means being agile and receptive to change. Learning isn't confined to technologies; it extends to understanding shifting customer expectations. This adaptability has been a cornerstone, ensuring our solutions stay ahead in a dynamic environment

Learning and adaptation are keys to grow and maintain your position in digital market. These characteristics give a push to your business towards integrity and stability. This requires you to listen to your customers and understand their approach, leading you to innovate and improve your finance solutions.????

Here are a few more bullets I will share from my experience - - Develop a roadmap, and a vision but be ready to adjust and always challenge that to find a better way. - As a leader ensure you secure the investment which will only happen when you have a convincing plan to show your CEO/investor. - Review closely the history and the capability of the team. Because what brings you here, will not often take you there! - There is not final version. It's just ready to put in to live. - Develop capabilities and also high leverage talents to join the team regularly. This is not a one off thing but a regular thing.

Delivering quick wins early on with tangible benefits is helpful to establish trust and address key customer pain points early on. Following a pragmatic and strong on delivery approach will help the finance teams even more perceptive to changing processes and approach while adopting digital solutions.

To design customer-centric digital finance solutions, start with thorough market research to understand customer needs and industry trends, followed by competitor analysis to identify market opportunities. Map out the current (AS-IS) and future (TO-BE) states of the customer journey to highlight inefficiencies and improvements. Perform value stream mapping to measure efficiencies and define key value enablers that enhance the customer experience, ensuring a comprehensive approach to product development that aligns with customer expectations and business objectives.

In navigating the regulatory landscape, my experience underscores the need for proactive compliance efforts. Data security isn't just a requirement; it's a trust-building measure. Exploring emerging technologies isn't a luxury; it's a necessity to stay at the forefront. Collaborations within the fintech ecosystem have opened doors to innovation, and championing financial education has been a fulfilling endeavor, empowering our customers beyond transactions

Determine your customer journey to highlight and even point out where the problems lie and where improvement is required. Your platform has to offer personalization; include things such as customized recommendations and financial tools. Data should be secured at a level with a degree of transparency because a customer needs to trust your service. Improvement has to be done on the usability of user interfaces; ease access and streamline processes involved. Lastly, always get feedback from customers and work on improving your solution for changing needs and trends.