Human-Centred AI in FinTech: Developing a User Experience (UX) Research Point of View (PoV) Playbook

TL;DR

This paper discusses how Human-Centred AI enhances user experience in FinTech by enabling personalized services, improving security, and aligning AI solutions with user needs through a strategic UX research framework.

Contribution

It introduces a UX research Point of View (PoV) playbook for integrating Human-Centred AI in FinTech to improve user experience and strategic alignment.

Findings

HCAI enables personalized financial products and services.

AI improves fraud detection and risk assessment.

The UX PoV framework aligns AI solutions with user needs.

Abstract

Advancements in Artificial Intelligence (AI) have significantly transformed the financial industry, enabling the development of more personalised and adaptable financial products and services. This research paper explores various instances where Human-Centred AI (HCAI) has facilitated these advancements, drawing from contemporary studies and industry progress. The paper examines how the application of HCAI-powered data analytics, machine learning, and natural language processing enables financial institutions to gain a deeper understanding of their customers' unique needs, preferences, and behavioural patterns. This, in turn, allows for the creation of tailored financial solutions that address individual consumer requirements, ultimately enhancing overall user experience and satisfaction. Additionally, the study highlights the integration of AI-powered robo-advisory services, which offer customised investment recommendations and portfolio management tailored to diverse risk profiles and investment goals. Moreover, the paper underscores the role of AI in strengthening fraud detection, risk assessment, and regulatory compliance, leading to a more secure and adaptable financial landscape. The findings of this research demonstrate the substantial impact of Human-Centred AI on the financial industry, offering a strategic framework for financial institutions to leverage these technologies. By incorporating a User Experience Research (UXR) Point of View (PoV), financial institutions can ensure that AI-driven solutions align with user needs and business objectives.