AI Set to Unlock the True Potential of Financial Services in 2025, Experts Say in New UX Insights Report

Industry-leading competitor benchmarking platform 11:FS Pulse’s fourth annual 11:FS Pulse Report reveals the best user journeys of last year and features experts’ predictions on the trends that will shape financial services in 2025.

The industry experts at 11:FS who bring new digital propositions like Mettle to market and are the voices behind the popular Fintech Insider podcast expect us to see some of these trends across financial services in 2025:

• The acceleration of personalisation in banking, driven by AI advancements, impacting customer support, product discovery and tailored user interfaces.
• Innovation and collaboration in the crypto space will surge off the back of pro-crypto regulations following the re-election of Donald Trump. Traditional financial players will have fewer pitfalls to navigate, inviting strategic deals and major investment. As AI and GenAI mature, customers will face more frequent and convincing scams. Banks will need to innovate at pace whilst fintechs will be held back by thinner profit margins – expect more partnerships as result.
• AI will solidify its role as a transformative force in the financial sector. Beyond customer-facing tools like chatbots, the real breakthroughs will come from automating workflows, streamlining compliance, and enhancing fraud detection.

Looking back on 2024, the report celebrates the ‘Pulse Stars’ – some of the most innovative, inclusive, and effective players in UX from every corner of financial services. These were the winners and the categories they were recognised for.

• Turning daunting tasks into delightful ones – awarded to Up (Australia)
• Addressing fraud concerns – awarded to Monzo (UK)
• Simplifying international travel – awarded to Niyo (India)
• Simplifying onboarding for first-time investors – awarded to Thndr (Egypt)
• Empowering investors with AI – awarded to Public (US)
• Redefining AI’s role in banking – awarded to Lunar (Denmark)
• Leading through accessible design – awarded to Lloyds Banking Group (UK)
• Streamlined multi-account management – awarded to Revolut Business (UK)
• Redefining crypto portfolio management – awarded to Exodus (US)
• Elevating P2P payments with simplicity – awarded to Apple (US)
• Cheaper payments with Pix integration – awarded to Nubank (Brazil)

A new section of this year’s report takes five learnings from 11:FS Pulse’s new benchmarking tool that analyses the features sets of leading banks and challengers. Those learnings are;

• Monzo and Revolut continue to set the standard for UK challengers by delivering features that balance functionality and user experience, seamlessly integrating advanced tools with intuitive design.
• On the incumbent side, RBS and NatWest both score highly for feature availability but fall significantly short when it comes to usability and visual design.
• A troubling trend among banks is the rise of “dark UX” where the design of customer support systems seem to discourage users from seeking help.
• Chase UK has quickly risen to prominence by mastering the basics, delivering a user-friendly digital banking experience backed by only a few standout features.
• Monzo and Revolut both offer multiple hero features – those that address unmet needs and redefine user expectations – that represent the cutting edge of what banking apps can achieve.

Joe Colchester, Head of Product at 11:FS Pulse, said: “2024 was a transformative year for financial services. Many fintechs saw profitability become a reality, signaling a much anticipated shift from growth to sustainable value creation. This evolution marks a maturing industry, with more fintechs going toe-to-toe with traditional banks. As we step into 2025, we do so with cautious optimism – aware of the bold advancements on the horizon, but equally mindful of the risks that accompany rapid transformation.”

The 2025 11:FS Pulse Report is available to download for free at: https://content.11fs.com/reports/pulse-2025