1. Could you give a synopsis of your book and the main issues it tackles in the modern world?
I wrote ‘BANKING BY DESIGN’ because I firmly believe that design holds the key to transformation and innovation. Banks, insurers, and financial services firms tend to be laser-focused on products and distribution. Therefore, these firms can benefit greatly from a broader application of Human-Centered Design (HCD) and Human-Centered Artificial Intelligence (HCAI).
2. What specifically qualified or experienced you for this subject area, and what motivated you to write this book?
I wrote ‘BANKING BY DESIGN’ because I firmly believe that design holds the key to transformation and innovation.In this book, design is not about aesthetics but about solving problems, creating value, and improving experiences. HCD (human-centered design) and HCAI (human-centered Artificial Intelligence) methods are particularly crucial in banking and finance, where trust, precision, and user experience are paramount. By prioritizing the needs, behaviors, and experiences of users, HCD and HCAI can ensure that bank AI applications are intuitive, accessible, and aligned with real-world demands. The use of design methods and behavioral design principles can be the game changer in terms of the transformation outcomes for banks, life insurers, and financial services firms. This is because the design process is collaborative and empowers people to innovate. It also creates the confidence for teams to drive better, more successful outcomes.
3. Could you point to any case studies or practical examples from your book that exemplify the ideas you talk about?
Most of the book has examples of how design can be used or what drives success with digital only, challenger banks globally. Cases include the likes of Nu bank in Brazil that is one of the leading examples of successful digital only banks. Other notable cases are those of Ally Bank, USA, Starling Bank, UK, Capital One, Sony Bank, Japan, Judo Bank, Australia etc. In addition to this, there are numerous examples of successful implementation of new payment systems in India, Brazil, China etc.
4. In an ever-evolving world, how does your book continue to be applicable and flexible for readers throughout time?
I believe that design methods, principles, and the tool kit have even greater value as technology drives changes in finance. Design methods remain relevant with various waves of tech innovation from digital to AI etc because they focus on how users respond to the change and when used well, they can help drive successful transformation outcomes by focusing on users.
