The reports from e-commerce applications claim users are abandoning shopping carts (according to Baymard Institute's research). The key reason users leave online stores is not the products but the poor user interface.
Baymard claimed around 69 per cent of the online shopping carts were abandoned over-complicated checkout procedures. Many companies have worked on VR and AR for years, but only a few can utilise the features effectively.
The developers fail to identify how the technology can be used appropriately and make virtual images with real objects difficult. Google has been consistently working to identify and integrate new features.
However, the Google AR view in maps feature is still in the developmental phase.
Google map can give names of streets and arrows to help guide the way and easily reach unknown destinations. In contrast, a smartphone allows GPS and compass to determine the location of an individual.
Still, in a crowded city, the locations can be misinterpreted, particularly in conditions where the satellite radio signals cannot track the real locations. The presence of magnetic objects in the surroundings can lead to the wrong compass direction.
Role of UI / UX in Financial Transactions
UI requires a proper set of necessary security where the consumer can operate the system effectively without getting frustrated over lengthy security systems.
Buyers are aware of online fraud and identity theft, where reports from IBM research claim about 92 per cent of the online shoppers want the website owners to keep their data secure and private.
A report by Zogby claimed that 85 per cent of the buyers are more likely to interact through a website verifying user credentials and identity.
Most banks and financial organisations should not sacrifice the speed of transactions and security. Even though there are several complexities involved in most such processes, people still like to use online financial transaction facilities instead of sending mail or visiting the branch.
How To Beat The Competition And Create A Balancing Act?
The developer team should share product vision, user experience, and business goals to create intelligent UI and machine learning solutions. The important steps for developing such systems include identifying user behaviour and creating a personalised onboarding app.
Most online buyers are researching products over several sites, and they can abandon shopping if they find the procedure complicated.
If the competitor's website is equally attractive and offers the same products, average buyers prefer to go to a website offering simplified, approved, secure deals.
Traditional banking systems were based on physical identity documents where users had to visit the bank/branch or mail their credentials.
These days the information is sent online, making the process fast and convenient, but the prevalence and expansion of cyber frauds have affected such transactions; thus, consumers appreciate the procedures needed for verifying the users' identities.
Unnecessary security stages impede consumer experience in many conditions, but users are ready to adapt as these complexities are part of efficient security.
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