We’ve been thinking a lot about how tactile experiences impact behaviour and the differences between how people spend physical cash vs how they spend with a card / Apple Pay and other digital wallets. We have some experiments cooking in our design lab around this.
Seems like an entirely rational approach to this. I love being able to have these discussions openly and honestly thanks @Xinjarebel
Even though people may not agree, and each person’s experience is different - hence it’s personal finance, not unpersonal finance - it’s nice to be able to chat about the pros and cons!
Short of a Pavlovian response with a Xinja wristband that shocks you each time you spend too much or at places of your choosing this is going to be a hard one…
But if anyone can cook it up and make it work Van it’s you and the team.
Oh my! I could do go on about the major difficulties in comparing the U.S market with the Aus market.
I may however upset some of my American friends, who rely on their free toasters and eight different credit cards to pay each other off… so I won’t emphasized text
I think I would need to change batteries often!
Thanks @weeksy_j I agree it is good to be able to have open and honest conversations.
I don’t however see any cons at all, even if I disagree with someone.
You can only truly make great choices in any area of life if you have heard or read all that you can and understand the arguments.
If for example I did not understand the basics of the various economic theories, I may well just believe our politicians are ignorant fools.
Understanding that they follow different economic philosophies however, gives me the ability to understand more than just the rubbish they need to say to create a baseline for the public.
It’s no different in our personal lives, the only difference is we develop personal philosophies that either work for us or they don’t.
Trying to explain them to others can be difficult at times as it has no basis in reality within the life they live.
So all pro! All information is good information and as valuable as we would like to make it or not.
Haha! that is funny.
Right now it means Bankwest to me given their marketing campaign but really any bank wants to appear unbanky now since the Royal Banking Commission. In addition to appealing to younger customers who see banks as an old fashioned behemoth
@XinjaPat I agree - there is a bit of a scramble to claim they are not ’ banky’ but it is a claim rather than an action (marketing rather than operations). Better to lead with the experience perhaps - perhaps unbanky is what people say about a bank rather than what a bank says about itself!
So true and an interesting topic on my mind as I went to close a bank account this week (preparing to migrate and consolidate to Xinja)
I had to draw all my money out before closing account and found the legacy world of ATMs funny. I wanted to draw my money out of ATM. To do this I need to:
Check balance > Withdraw
Withdraw small amount > Show Balance (part of withdraw flow) > Withdraw rest
Unlike using the online banking or App I can’t check balance in the withdraw transaction and streamline the process of knowing what I have and how much I can draw without leaving Windows and doing multiple transactions essentially.
I also noticed how my bank really speaks to mature customers and business customers and really isolates young customers with boring procedures and a bad GUI on all digital interfaces.
Regarding credit cards: perhaps link a card against the account you intend to use to pay it off. Then, if you spend more than is expected to be in that account in, say, two weeks, send the user an alert.
So I would earmark my credit card against the account my pay goes in. I don’t care if the card has a higher balance on it than the current amount in my account, but I would get concerned if I spent more than, say, 30% of my pay
I do find it funny that you had to use an ATM to withdraw all funds. Last time I closed an account, I just gave the customer service rep the details of another account and they just transferred the balance…
But yes, some banks have horridly old UX. I do wonder if it really is better for mature/business customers than a prettier, more streamlined interface. I kinda get not wanting to overwhelm someone with information, but it is possible to convey an awful lot of information in a “pretty” form without it being overwhelming.
Hi @propoke24, thanks for chiming in! It’s always delicate dance on overwhelming with information and sharing just the right amount of info - what peeps actually need to know. We run Xinja labs where we test aspects of this, UX design & blue sky thinking. We would love to have you along to give your opinions in person! Look out for announcements on all our channels.
I’d love to attend a Xinja labs session, but they are all in Sydney and I’m not
But I do hope that chiming in here is good enough for me