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TRUST ARCHITECTURE AND FINTECH

Published on
September 4, 2023
Published on
September 4, 2023

Trust architecture is essential in building trust among stakeholders, internal and external employees.

How do businesses translate trust into their digital interfaces?
Cue "Trust architecture."
It refers to the framework or structure put in place to establish and nurture trust in digital interactions. It encompasses the strategies, practices, policies, and technologies that are designed to promote transparency, reliability, and credibility. Trust architecture is essential in building trust among stakeholders, internal and external employees.

Here are some key components and considerations related to trust architecture and how we have leveraged them in MADU, an award-winning  digital learning and development app designed for Manappuram Pvt Ltd.

TRANSPARENCY

Open and clear communication is crucial in trust architecture. Keeping the user in loop with what's happening builds trust. Asking user permission before collecting data is one way we made our app more transparent. OTP Login and the usage of secure APIs are definitely the right steps in this direction.

ACCOUNTABILITY

Having an efficient and updated training system for internal customers (employees) while empowering them to take lead in contingency management. This will in turn help the internal customers leverage technology to seamlessly cater to the needs of the external customers. Taking responsibility for mistakes and rectifying them demonstrates reliability. Having a super-admin for the Department-wise courses in MADU displays accountability. The employees also have the facility to report issues to the super-admin.

COMMUNICATION STRATEGY

A well-defined communication strategy helps convey the organisation's values, mission, and commitments. Regularly updating stakeholders about the organisation's progress and initiatives fosters trust. In MADU, the user dashboard communicates the employees performance, analyses their progress and learning through statistical reports. Warning screens and confirmation tabs make users feel more comfortable navigating the screens.

CONSISTENCY

Design has an important role to play in building consistency. This can be achieved through consistent visual language in interfaces and common feature styles as observed in MADU. Consistency in actions, messaging, and quality fosters predictability and reliability. When stakeholders can depend on the organisation to deliver what it promises consistently, trust is strengthened.

CUSTOMER-CENTRIC APPROACH

Putting the needs and preferences of customers first shows that the organisation values their interests. MADU was designed keeping user accessibility in mind. Thorough research and understanding user pain-points were conducted before developing the screens. This customer-centric approach can enhance trust and loyalty.

EMPLOYEE ENGAGEMENT

Trust within an organisation starts with its employees. An engaged and empowered workforce is more likely to uphold the values of the organisation, leading to greater trust among all stakeholders. Since MADU was designed for Manappuram employees, they were kept engaged through rewards and recognitions like “employee of the month” section, etc.

FEEDBACK & LISTENING

Actively seeking and listening to feedback from stakeholders, whether it's customers, employees, or partners, demonstrates that the organisation values their opinions and is committed to improvement. MADU also has the provision where users could rate courses and provide feedback on how to improve the learning experience.

COMPLIANCE & REGULATIONS

Adhering to industry regulations and legal requirements builds trust by showing that the organisation operates within established guidelines. A clear and specific T&C and guidelines for the employees are how MADU kept their users in the loop.

CRISIS MANAGEMENT

Being prepared to effectively handle crises and unexpected challenges is essential in maintaining trust. How an organisation responds to adversity can significantly impact its reputation. Extensive debugging and user testing in virtual settings were conducted in the making of MADU before launching into a run time platform.

Trust architecture

is an ongoing effort that requires continuous monitoring, adaptation, and improvement. It's a strategic approach to building and nurturing trust that extends across all aspects of an organisation's operations and interactions with its stakeholders.

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