How UI & UX Shape Your Business’s Success
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Citibank recently learned an important lesson about the critical nature of user interface and user experience design. The company wired a staggering $900 million to Revlon lenders – by mistake.
The bank was supposed to send nearly $8 million in interest payments, but the platform used to send the money was confusing to the point that several layers of quality control allowed a transaction worth almost $1 billion to go through. While some lenders returned the funds, Citibank didn’t receive about $500 million of the erroneous payments – a loss that a judge has since ruled irreversible.
To expand on the importance of UX and UI – and the psychological factors at work behind the scenes – host Hilary Kennedy was joined on this episode of MarketScale TV by Dr. Melanie Polkosky, a social-cognitive psychologist. Polkosky is also a UX designer, writer and researcher.
Though not every error will result in the loss of half a billion dollars, a bad UI or user experience can turn away key business from companies of all sizes. It’s critical to imagine the customer journey and design an experience that supports it and makes it simple, not detracts from it.
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