AI and the Future of Financial Services UX

I imagine a customer in the 1970s standing there, card in hand, squinting at this unfamiliar machine and hoping it would give something back; trying to decide if it really dispensed cash…or just ate cards for sport. That quick panic when the machine pulled the card in is an early version of the same confusion customers feel today in digital banking.

People were not afraid of machines. They were afraid of not understanding what the machine was doing with their money.

Banks solved it by teaching people how to trust the process. They added clear instructions, trained staff to guide customers, and repeated the same steps until the unfamiliar felt intuitive. 

However the stakes and complexity are much higher now, and AI for financial product transparency is becoming essential to an optimized banking UX.

Today’s banking customer must move through automated underwriting, digital identity checks, algorithmic risk models ...