Journey Through FinovateEurope 2019

No doubt, if there’s a place you could call the innovation epicenter of the financial world, it’s Finovate. It brings voice to the future banking and illuminates what will be the common practice of tomorrow. This year UXDA stepped on the stage beside other world’s leading finance innovators and influencers to demonstrate which direction the financial industry is heading to. UXDA outlined the rising significance of delightful user experience design in financial services — definitely one of the routes the future of banking will take. Here’s a recap of the most remarkable Finovate memories to inspire every financial professional who aims to reinvent banking.

Mission

The world of finance is changing at a rapid speed and Finovate event is living proof of that. That’s why we as dedicated pioneers of user-centered financial design had to be there and introduce our approach. We used our voice to express — the era of boring and complex financial solutions has come to an end. User-centered, emotional and attractive financial services are shaping the future of banking.

Networking with dozens of FinTech pioneers approved how crucial it is to understand — customers will use services that truly provide value, are easy to understand and enjoyable to use. Throughout the event we highlighted that

financial design is a powerful tool for the transformation of the financial industry, as it humanizes the financial solutions and makes them much more closer to the people who use them daily.

UXDA encouraged the financial professionals to look at their services from a side just for 7 minutes, during our demo. That’s when we emphasized how important it is to step back from the ordinary financial services and make them emotional, enjoyable and valuable for the user.

UXDA’s presenters Karlis Jonass and Alberts Pumpurs at FinovateEurope 2019

To display the wide possibilities such an approach can offer, we demonstrated UXDA’s most significant financial design innovation of 2018 — the Light Bank.

UXDA’s Light Bank mobile banking app concept presented at FinovateEurope 2019

In creation of this solution we challenged ourselves to design a concept of the simplest and most beautiful banking in the world, whilst maintaining the full-scale banking functionality. That’s why the creation of Light Bank was based on a thorough research of human psychology, habits, needs and expectations.

The main aim of our presentation and presence at the financial innovation epicenter — Finovate was to bust the deep rooted myth of finance as something complicated and difficult to understand.

Captured inspiration

The Finovate experience felt delightful for UXDA as it was a great opportunity to discuss the importance of financial design with people who truly appreciate the value of it. Also the world’s leading fintech and banking influencers like Jim Marous, stressed to us that UXDA’s mission to humanize the world of finance is crucial in the transformation of the banking industry.

To preserve the magic of the event and provide a grasp of it for those who didn’t attend, our representatives Alberts (UXDA’s CCO and board member) and Karlis (UX architect) created a “Finovate Diary” video blog.

Guys reflected on their daily observations and encounters at the venue. But as UXDA team is always looking for more creative and emotional ways to express our message, Alberts an Karlis decided to do something that has never been done before.

They took the camera to the depths of Finovate backstage, creating unique behind-the-scenes footage, so that anyone could step into the shoes of Finovate presenters, experiencing the shivers of backstage and the thrill of demoing. Take a look at it right away:

In a post-event interview UXDA’s presenters Alberts and Karlis look back at our experience:

The Finovate experience itself was amazing. During our demo day, UXDA managed to meet so many people that had come just to meet with us. It’s great that during the last two weeks, we’ve been communicating with a lot of UXDA clients and friends met back in London.

The event itself provided significant insight on further development of the industry. It shows how those who are trying to disrupt the financial industry with technologies, philosophy, and everything they are building are not perceived as rebels anymore. Instead, they are the leaders of the future, who are welcomed, praised and respected here! Because they are already disrupting, already a part of the system, but in an entirely different way. With entirely new freshness, entirely new ideas and vision of the future of how we are going to do financials tomorrow.

The Finovate event is a fantastic opportunity to meet the world’s leading banking influencers and fintech industry “ice-breakers”.

UXDA’s presenter Karlis Jonass at FinovateEurope 2019

The demo presentations happened in 7 minute chunks, that might get challenging for the companies to manage sharing their vision. But at the same time it’s a unique way to learn about plenty of amazing financial innovations in a very concentrated and essential way. It was quite a challenge for UXDA as well, but we made it.

We were most grateful that many people felt hooked after our demo and came to us asking to elaborate on the topic of creating emotional experience through financial design.

When talking with influencers they stated that UX and financial design is something that’s going to happen and is already happening right now. And it’s super-important for the users because that generates value.

And I know that there was something that Finovate got from us — they got our ideas, our inspiration, our values, that we are trying to spread. Through this platform — we talked about emotional design, impact on users and about value generation, and where this is heading.

It’s not a one-way stream for the banks and financial services to the users, it’s communication. What users can get from the banks and what they can give to them. It’s all about creating a win-win scenario, emotional connection between them.

Financial design and UX can create a bridge between financial services and users. It’s a must-have thing that shapes future of digital interactions.

UXDA would like to thank all members of the Finovate team for such a high level of organization. And a special thanks to Finovate VP Greg Palmer for providing an excellent coaching advice as well as support during UXDA’s Finovate journey.

If you are interested in creating a successful banking experience for your customers, learn more about the impact of UX and emotional financial design:

What Will Define Customer Experience in Banking: Five Trends To Motivate You To Make a Change (+ checklist)

The Underestimated Power of Design in Banking Digital Transformation

UX Design Guide: How to Create the Most Beautiful Mobile Banking in the World