In today's digital age, having a website is no longer a luxury, but a necessity for financial institutions. A website serves as a digital storefront, providing customers with a convenient way to access information, conduct transactions, and engage with your brand. However, building a website for a financial institution is a complex task that requires careful planning, execution, and consideration of numerous factors. In this blog, we'll delve into the details of what goes into building a website for your institution. 

Understanding the Unique Needs of Banks and Credit Unions 

Before we dive into the specifics of building a website, it's essential to understand the unique needs and challenges of banks and credit unions. These organizations operate in a highly regulated environment, and their websites must comply with various laws, regulations, and industry standards. Some of the key considerations include: 

Security and Compliance 

Websites must comply with regulations such as the Gramm-Leach-Bliley Act (GLBA), the Payment Card Industry Data Security Standard (PCI-DSS), and the Federal Financial Institutions Examination Council (FFIEC) guidelines. 

Data Protection 

Websites must ensure the secure storage and transmission of sensitive customer data, including personal and financial information. 

Accessibility 

Websites must be accessible to all users, including those with disabilities, and comply with the Americans with Disabilities Act (ADA). 

Brand Reputation 

Websites must reflect the financial institution's brand identity, values, and mission. 

The Website Building Process 

Building a website for a financial institution involves several stages, including: 

Discovery and Planning 

  • Define project goals, objectives, and timelines 

  • Conduct stakeholder interviews and surveys 

  • Create a content strategy and information architecture 

  • Develop a sitemap and wireframes 

Design and Development 

  • Design a visually appealing and user-friendly interface 

  • Develop a responsive and mobile-friendly website 

  • Integrate third-party APIs and services (e.g., online banking, chat, loan applications) 

  • Implement security and compliance measures 

Content Creation and Migration 

  • Develop high-quality, engaging, and accessible content 

  • Migrate existing content from legacy systems 

  • Optimize content for search engines and user experience 

Testing and Quality Assurance 

  • Conduct usability testing and user acceptance testing (UAT) 

  • Perform security testing and penetration testing 

  • Ensure cross-browser and cross-device compatibility 

Launch and Deployment 

  • Plan and execute a seamless deployment strategy 

  • Configure analytics and tracking tools 

  • Provide training and support for stakeholders 

Key Features and Functionality 

A website for a bank or credit union should include the following key features and functionality: 

Online Banking and Account Management 

  • Secure online banking and account management capabilities to link to the website 

  • Ability to view account balances, transaction history, and statements 

  • Option to pay bills, transfer funds, and manage accounts 

Security and Fraud Protection 

  • Implementation of robust security measures (e.g., SSL encryption, two-factor authentication) 

  • Fraud protection and detection mechanisms 

  • Secure form submissions and/or auto deletion of forms from the CMS after a certain period 

Loan and Deposit Applications 

  • Online loan and deposit applications with secure data transmission 

  • Ability to upload required documents and supporting materials 

Branch and ATM Locator 

  • Interactive branch and ATM locator with mapping and directions 

  • Information on branch hours, services, and contact details 

Financial Calculators 

  • Interactive financial calculators and tools (e.g., mortgage calculators, investment calculators) 

  • Ability to generate personalized financial plans and recommendations 

Search Tool 

  • Ability to search for keywords or pages on the site with a search bar 

  • Search will break out into different categories such as product pages vs blogs with the results 

ADA & WCAG 

  • Follow the Americans with Disabilities Act (ADA) by installing a widget to your site to follow Website Accessibility Guidelines (WCAG) 

  • Update alternative text and advisory titles for all images before launch 

Data Privacy 

  • Ensure your site follows your state’s data privacy laws 

  • Install a cookie tracking opt in/out feature to your site 

  • Have a data privacy policy linked in the footer of your site 

Build with forbinfi 

Building a website for a financial institution is a complex task that requires careful planning, execution, and consideration of numerous factors. By understanding the unique needs and challenges of these organizations, and by incorporating key features and functionality, you can create a website that meets the needs of your customers and helps your institution thrive in the digital age. 

Are you ready to take your institution's website to the next level? forbinfi is prepared to take on the challenge with you. Schedule your consultation today with our expert team of web designers!