Post the federal court hearing yesterday, Citibank got a $500 million lesson in
the importance of UI Design. Probably, the biggest blunder in the Banking space.
Citi was trying to make $7.8M in interest payments. It sent $900M instead.
The actual work of entering this transaction fell to a subcontractor in India.
The subcontractor thought that ticking the "principal" checkbox and entering the
number of a Citibank wash account would ensure that the principal payment would
stay at Citi.
He was wrong. To prevent payment of the principal, the subcontractor actually
needed to set the "front" and "fund" fields to the wash account as well as
"principal." The subcontractor didn't do that.
With such big transactions happening on digital interfaces everyday, the
responsibility on UX & UI designers is paramount. UI should evolve in a way that
it is trying to minimise the chances of human errors as much as possible.
Though design would not be the only reason for this blunder, it surely is one of
the contributing factors.
This reminds me of this very famous quote - "If you think good design is
expensive, you should look at the cost of bad design"
#Banking #UI #Design #Citibank
Originally posted by Chirag Gander on LinkedIn
link: linkedin.com/in/chirag-gander
the importance of UI Design. Probably, the biggest blunder in the Banking space.
Citi was trying to make $7.8M in interest payments. It sent $900M instead.
The actual work of entering this transaction fell to a subcontractor in India.
The subcontractor thought that ticking the "principal" checkbox and entering the
number of a Citibank wash account would ensure that the principal payment would
stay at Citi.
He was wrong. To prevent payment of the principal, the subcontractor actually
needed to set the "front" and "fund" fields to the wash account as well as
"principal." The subcontractor didn't do that.
With such big transactions happening on digital interfaces everyday, the
responsibility on UX & UI designers is paramount. UI should evolve in a way that
it is trying to minimise the chances of human errors as much as possible.
Though design would not be the only reason for this blunder, it surely is one of
the contributing factors.
This reminds me of this very famous quote - "If you think good design is
expensive, you should look at the cost of bad design"
#Banking #UI #Design #Citibank
Originally posted by Chirag Gander on LinkedIn
link: linkedin.com/in/chirag-gander
