Alex Kreger, UX Strategist & Founder of the financial UX design agency UXDA, increases banking and fintech products' value in 36 countries.
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The year 2024 has started with a new digital platform that could form the next digital revolution: the Apple Vision Pro. After incredible success in developing mobile computing, Apple is taking its first step into spatial computing. As the founder and CEO of the financial UX design agency UXDA, I'm eager to explore the experience spatial computing could bring to banking customers.
The Benefits Of Spatial Banking
Integrating the banking experience into spatial computing can offer unique use cases and benefits from a user experience perspective.
1. Immersive And Personalized Experience
Overall, spatial banking can provide a more engaging and immersive banking experience. Users can feel like they are physically interacting with their digital bank, making the experience more interactive and enjoyable compared to traditional online and mobile banking.
Spatial banking can take personalization to a whole new level, especially if powered with AI. I think the traditional banking model will be hard to compete with the customer-centered proactive service of AI-powered spatial banking in the future.
AI-powered spatial banking could provide:
• Services tailored to users’ unique circumstances and preferences.
• Guidance to manage financial challenges and identify risks or opportunities.
• Real-time updates on balances, transactions and market trends.
• Conversational UI to interact with AI advisors in real time.
• Advanced algorithms for fraud detection.
• Instantaneous AI responses to queries and routine task automation.
• An educational component that provides insights, tips and clear explanations.
2. Privacy In Public Spaces
With mixed reality, users will have the advantage of conducting financial operations with enhanced privacy. The visual display is accessible and visible only to the user. This means that, in public spaces or shared environments, no one else can see the user's financial information.
3. Minimized Distractions
An additional benefit of spatial banking could be the reduction of external distractions. When a user is using a headset, their entire field of vision is dedicated to the task at hand. This heightened level of focus can lead to more efficient financial management, as users are less likely to be interrupted or distracted by external factors causing expensive financial mistakes.
4. Comprehensive Financial Overview
Spatial computing technology is not limited by desktop borders and allows for a multi-modal interaction with banking applications. Users can open multiple windows or views within spatial banking, enabling them to see various aspects of their financial picture simultaneously.
Considerations For Spatial Banking Design Patterns
I believe spatial banking is a huge opportunity. The main focus is to build the principles of interaction with spatial computing, but the device characteristics and convenience will certainly improve over time.
Based on my company's experience creating an AI-powered spatial banking app, here are some considerations for creating design patterns.
1. Interface
I recommend using a glass material for user interface elements to create a stunning and lightweight canvas that allows light from the background and surroundings to come through. Vibrant materials will adjust to the surrounding light, resulting in a dynamic and seamless visual experience.
2. 3D Micro-Interactions
To enrich the UX in a spatial environment, financial services could add a third dimension to the interface, for example, a 3D view of the purchased goods in transactions or a 3D design of micro-interactions in sending money confirmation. Keep in mind that you don't want the design to distract users from key tasks.
Use subtle animations and feedback to guide users through transactions and financial data exploration, making complex tasks feel simpler and more engaging. Ensure these interactions are meaningful and enhance the user's experience by making navigation more natural and information more accessible.
3. Native Layout
In spatial banking UI, it's important to adhere to native layout patterns, including the placement of the primary screen, the use of cards for content, a navigation bar and more.
Focus on a human-centered design by positioning key content centrally and within easy reach, minimizing user movement. Utilize dimensionality and depth to create hierarchy and focus and ensure immersive transitions between different engagement states. Aim for an authentic experience to make the app distinctive within the spatial ecosystem.
4. Typography And Iconography
In spatial computing for financial apps, prioritize clarity and legibility in typography and iconography, choosing simple, scalable designs that maintain visibility across varying distances and interactions. High-contrast colors enhance text readability against diverse backgrounds, while user customization options for text size, color and font improve accessibility.
To improve readability and minimize the possibility of visual conflicts with transparent background items, use a white font and 2D text for easier reading.
5. Ergonomics
To prevent eye or neck strain, center the content and select the optimal window size according to the user's field of vision. Financial services should strictly adhere to each product's instructions about paddings, margins and spacing.
Conclusion
Traditional banks' innovation efforts are noteworthy, yet the shift towards spatial computing marks a significant turn away from the outdated brick-and-mortar VR perspective to a more user-centered self-service app approach.
Embracing immersive, AI-enhanced banking solutions could elevate customer experiences, offering levels of personalization and engagement previously unattainable. Spatial banking could leverage AI to provide tailored financial insights, conversational AI advisors, and enhanced fraud detection, all within a privacy-focused and distraction-minimized environment enabled by spatial headsets.
While it may be premature to declare a widespread industry adoption of spatial computing, the momentum toward designing such innovative experiences today is clear, promising to redefine the future banking landscape.
I recommend that financial companies follow and explore the opportunities of spatial experience to exceed digital consumer expectations. By incorporating such innovative approaches, financial institutions could secure a leading position in the future of financial technology.
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