Adaptive Path and Capital One, congratulations on your budding partnership! It’s an exciting time for both of your companies, and we hope the integration moves quickly and without obstacles. We here at Fresh Tilled Soil are very happy for you.
In case the rest of you missed it, last week the news broke about Adaptive Path being acquired by Capital One, and at first it seemed confusing. Even Jesse James Garrett, Adaptive Path’s chief creative officer was skeptical. Why would a forward-thinking user experience design consultancy pair up with a stodgy financial services giant? The financial services space has always been seen as behind the curve when it comes to adopting cutting-edge technology and schools of thought.
Industry publications have been poking fun at the partnership and calling it nothing other than “weird.” If you break it down, the acquisition isn’t all that strange. Adaptive Path has a ton of experience developing unique user experiences for clients in all types of industries over the past 13 years. Like any other adolescent, maybe they’re ready to break the mold and do something they see as different and rebellious. Others might call them sell-outs, but banking user experiences aren’t going to get better without these types of bold acquisitions. No matter how you feel about the deal, it will be exciting to see the evolution of the partnership and implications on how large companies take a stance on improving user experience, whether in financial services or other industries.
Regardless of Adaptive Path’s intent, Capital One is on the right path to be more customer-centric and Adaptive Path will only help them achieve their goal. While they were slapped with a $210 million bill for deceptive marketing of their “add-on” products back in 2012, Capital One has made progress in the customer experience space both online and offline. Just in my own backyard, there are Capital One 360 cafes that offer financial planning assistance, a shared community workspace and for Capital One cardholders, a discount on Peet’s Coffee. More recently, the company released Capital One Wallet that has received (surprisingly) positive reviews. Great news for them given competitors like Citi, TD Bank and Wells Fargo each have reviews 2.5 stars and under for their most recent versions of their mobile banking apps in Apple’s AppStore. Injecting even more expertise and energy from a well-known UX design company will only help Capital One understand how their customers are using their products and opportunities for improvement.
What does it mean for the future of the UX/UI industry?
Mat Honan at Wired believes that it will be the end of the Web 2.0 era. And maybe that’s a good thing. UX/UI shouldn’t be lumped into Web 2.0. It’s much more than creating dynamic web pages. It’s about designing a meaningful experience for users by finding the sweet spot of business needs and user needs and making technology work for both of them. And it has major implications on bottom lines. Every dollar invested in UX yields a return between $2 and $100. What a pretty great ROI, right? I’m sure executives at Capital One see dollar signs in their eyes.
Now, it’s not to say every major organization facing problems should run out and purchase their own UX/UI design company as Capital One has done with Adaptive Path. Creating best practices and developing learnings from clients across industry and business challenges is what pushes the UX industry forward and keeps us at Fresh Tilled Soil progressing and pushing the envelope for how our clients work with their customers. We’ve had success across industries and look forward to the new landscape ahead.
If you’re feeling lost, alone or you’ve been dumped by Adaptive Path in all things user experience, give us a call or send us a note. We’ll take great care of you!