User Interface and Experience Engineers Play a Key Role in Finance

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Today we have an article on why JPMorgan stands to profit from its acquisition of First Republic, another big warning sign in the real estate market, and all the oddities people left behind for Uber.

First, is it easy to use?

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1. Looks matter.

What makes a tool good or bad is its ease of use.

And in the ever-increasing amount of information on Wall Street, application design and user interfaces play a central role.

User interfaces and user experience have long been underestimated in the financial industry. This is ironic given the public nature of work. But companies are quickly realizing the importance of making the tools they build easy to use.

Take a look at one of the world’s most powerful hedge funds.

Citadel, a $57 billion hedge fund run by billionaire Ken Griffin, has focused more and more on UI and UX in recent years and has set up a specific team to focus on its 2020 efforts. .

Insider Bianca Chan has all the details about Citadel X, the team that makes sure the hedge fund’s powerful tools are built to fit seamlessly into employee workflows. Bianca spoke to people inside the company about the impact Citadel X has had, from helping them transition from Excel to streamlining the work of her managers and traders in the portfolio.

Working on the user experience is a thankless job. When a tool works well, you may not want to give credit to the person who designed it. But if something goes wrong, you can curse them right away.

The process-driven world of finance is an interesting use case for those focused on design. As Bianca’s story emphasizes, engineers must balance the importance of giving users access to the information they need against the risk of overburdening them.

If all this seems unimportant to you, consider the stakes. Better UX and UI means more efficient employees. This means you can do more with less, which means better profits and more revenue.

Learn more about Citadel X, the user experience and interface team for a $57 billion hedge fund, here.

In other news:

2. What does the failure of the First Republic mean for Wall Street? If you’re still trying to understand another local bank collapse, we’ve got you covered.

3. Speaking of the First Republic, there is already one clear winner. JP Morgan’s Jamie Dimon might make you think the bank is just doing its civic duty by buying First Republic from regulators. However, JPM stands to benefit greatly from the acquisition. Here are five reasons why JP Morgan was the winner.

Four. The real estate market, the coal mine canary, is dying. Lenders are stepping up their provisions to protect against bad debt losses. This is a sign of concern about the sector. Details of why the lender is prepared for loss.

5. Deutsche Bank doubles transactions. A German bank is building an investment bank for potential M&A gains, reports the Financial Times. Learn more about Deutsche Bank’s strategy.

6. Lessons learned from Y Combinator. Three founders who attended the latest startup accelerator class share what they learned from the program. Get an overview.

7. More and more people are asking for refunds from Blackstone real estate investment trusts. Blackstone has restricted withdrawals from the $70 billion BREIT for the sixth straight month, according to Reuters. Click here for details.

8. We all help pay the bills of wealthy people who fly privately. Despite currently accounting for one-sixth of flights, private jet travelers pay only 2% of the taxes that fund the FAA. A new report highlights how commercial flyers are helping the ultra-high net worth jet setting lifestyle.

9. The strangest thing left in Uber. The company has released an annual “Lost and Found Index” detailing the most interesting items left in cars. Here’s a rundown of some of the most unique finds.

10. Where it really costs to go to college. As tuition continues to rise, some deride college as a waste of money. But these 31 schools actually offer a good return on investment. Check out the full list. (You’ll be surprised by the top three.)

Curated by Dan DeFrancesco, New York. Feedback or tips?Email ddefrancesco@insider.com, Tweet @dandefrancesco, or connect with us on LinkedIn. Edited by Jeffrey Cane (tweet) @jeffrey_cane) New York and the Hallam Block (tweet) @hallam_bullock) in London.