Who is Involved?
My Role:
I performed all of the research, designing, and prototyping of this project autonomously with the guidance of my UX Design mentor.
Goal:
Analyze and prototype how new technologies can be used for new authentication methods and fraud prevention in mobile banking.
Users are Suffering from Login Problems During the COVID-19 Era
With 50 qualified survey responses, there was a lot to uncover about users' experience with online banking. I set out to understand the entire user journey from start to finish.
Firstly, the top reasons why users are prompted to open their bank app in the first place were:
1. Making a purchase (33% of users)
2. Getting paid (26% of users)
The most important actions that users did on their account were:
1. Checking account balance (46% of users)
2. Checking transaction details (22% of users)
Finally, what I focused on the most with this project are the major pain points among users who access their bank information online. These included:
1. Logging in
Out of the pain points mentioned, 39.3% of complaints were about logging in. Users were inconvenienced when Face ID would not work, especially when they have a mask on in the COVID-19 era.
2. Insufficient Transaction Details
Out of the pain points mentions, 25% of complaints were about transaction details. Users were left questioning if a transaction was fraudulent because the transaction details page lacked useful information.
My research is summarized in these following two graphics:
Augmented Reality Glasses Can Improve Users' Experience with Online Banking
From the data I collected, I analyzed which new technologies in today's world can provide users with
(1) a more efficient, secure login process and
(2) additional transaction details to prevent fraudulent activity.
Augmented reality glasses can provide a hands-free solution. An iris recognition scanner and camera will be present on AR glasses, something that Apple is already talking about implementing on their mixed reality glasses. With these devices, banks will be able to provide their users with a more sound login and authentication process. As a bonus, they can also aid in catching fraudulent activity.
The New Way of Shopping With AR Glasses
Taking into consideration the limitations of AR glasses today, I explored how they can be used to aid users in their online banking journeys:
Users will be able to use iris recognition to login to their bank accounts. This addresses the pain point because they no longer will need to have their entire face exposed, just their eyes.
1
Logging In
Users will receive a notification from their glasses about all transactions. Users will also have the option to require iris recognition for each and every purchase. This requirement of iris recognition will provide users with added security.
Additionally, at the time of each purchase, the AR glasses will take a live photo of the user's POV, which will be sent to the user's bank account. This image will provide users with the details they need to determine if a transaction is fraudulent.
2
Authentication
3
Catching Fraudulent Activity
Scenario #1:
Scenario #2:
If a hacker makes a purchase, the authentic user will receive a notification from their glasses that a purchase was made. So, users will immediately know if a fraudulent transaction was made.
If a thief steals their credit card + hacks their glasses (such that the user receive no notification about the purchase), the user will still be able to tell based on the POV screenshot in the transaction details if the charge is fraudulent.
Iris Recognition Technology Can Be Used Even Without AR Glasses
For those users who do not have access to these glasses, they can still use some features by utilizing the iris scanner and camera on their smart phone. iPhone users do not yet have iris scanning options available, but Samsung users do.
1. Logging In:
Users will simply raise their phone to their face to utilize the phone’s iris scanner to log into their bank account.
2. Authentication:
Similar to those with AR glasses, users will have the option to require iris recognition for each and every purchase. Users will raise their phone in front of their face to utilize the iris scan at the time of purchase, and the phone's camera will capture a back-facing live photo simultaneously to send to the user's bank account.
Additional Feature:
If users do not want to allow their phone to take back-facing photos at the time of purchase, another option is for their phone to take a screenshot of their phone/laptop screen at the time of purchase. This will be useful if the purchase was made online.
Skipping the Login Page & Catching Fraudulent Charges
I built a prototype, using the Chase Bank branding, to showcase how iris scanning features and POV live photos will be displayed to users.
Login Process
Upon clicking on the bank's app from the home page, users will no longer be met with a login screen once their AR glasses are paired. The iris recognition scanner will spring to action instantly.
Fraudulent Actions
One user revealed to me in an interview that they had trouble dealing with a fraudulent charge on their bank's mobile app. I designed the home page such that users can catch fraudulent charges immediately upon opening app.
Transaction Details
These small, yet significant POV photos are seamlessly incorporated into the bank's pre-existing interface, elevating the users' experience and providing all the details they need to determine if a charge is authentic.
Click on the images below to learn more about each page:
Final Thoughts
There is still a lot to explore with using AR glasses and iris scanning technology when it comes to online banking. Depositing checks with a blink of the eye? Price matching products in real time? Sharing bank statements with sign language?
However, there is still a while until we get to that point. Until then, you can view my latest prototype incorporating iris scanning technology into online banking on Figma.