Money makes the world go ‘round.
These days, the financial experience landscape is changing rapidly. Regulations are tighter and politically driven. Investments in FinTech innovation approach $130+ billion since 2010, signaling a new era of reinvention within the industry. Across the industry spectrum, consumers face an overwhelming array of products and services often not well-designed around their wants, needs, and behaviors.
Bankruptcy, debt, and diminishing retirement savings are urgent concerns that many consumers face and underserved populations struggle living paycheck to paycheck, not being able to afford the necessities of life. This all presents an opportunity for savvy financial organizations. Wise and nimble digital choices will reward companies that evolve beyond quarterly profits and begin arming consumers for financial health, and truly supporting them in the transition.
At Mad*Pow, we see these challenges in the financial services industry as an opportunity to improve the experiences people have with financial systems; making people's lives better through design. We’re also strong believers that purposeful design will deliver true financial wellbeing to consumers and families, helping them achieve their financial goals, while also delivering great business results.
Deeper client interaction in financial services requires more than just tweaking existing products. Relationships must be re-thought, perhaps reborn. Design, in all of its motivational formats, can be a differentiator when seeking to enlist clients and customers in new and expanded ways.
It starts with revealing people’s needs and goals. With that understanding we optimize how financial services organizations can be focused to satisfy those desires through customer experience innovation informed by behavior change theory, paving the way to motivate customers to be more financially savvy and aware. Then, we design and deploy amazing digital products to enable seamless real-time experiences that deliver results.
We are experts in using the power of design to explore and deliver new opportunities for end customers. If you want to stay vital in changing times, this isn’t optional. We do this for a wide variety of financial services organizations, with some of the results highlighted below.
In addition to our work and insights shared below, Mad*Pow also hosts the annual Financial Experience Design Conference (FXD), which brings the worlds of finance, design, experience, innovation, and motivational psychology together – with the goal of improving financial experiences and stimulating movement toward financial wellbeing for all.
This year’s conference was held Nov. 7 at District Hall in Boston. To learn more, visit https://financialexperiencedesign.com.