"Five key points for great user experience: 1. Security 2. Low friction 3. Speed 4. Low cost 5. Pan-EU coverage" *(low friction: anything that prevents a user from completing the desired action, for example, bugs, unintuitive user interface, poor UX design, slow loading time, or by simply not understanding your users well enough and not meeting their expectations. These challenges inevitably result in user frustration, reduced conversion rates, abandonment, and the eventual selection of a more effective application.)
Design 🤝 Trust 🤝 Adoption 💭 Should users give their banking password to third parties? 💭 How can good UX design build trust in open banking? 💭 Can the exponential growth of open banking payments in the UK be replicated across Europe? Last week at QED Brussels, Joe Morley made a strong case for an API-only approach, with no room for screen scraping and sharing credentials. The roundtable made it clear that EU policymakers and tech enablers all want to allow open banking payments to reach their full potential 🇪🇺 📖 Learn more about what defines good payment UX and how #PSD3 can help create trust and drive adoption: https://okt.to/fYhUGJ #openbanking #openbankingpayments
