Let me go go a little bit off-topic in this post, but don't despair, financial services user experience will be part it as well.
Discussing about the subject of this blog, I found myself talking with family and friends about how pervasive the "design for designers" (in opposition to users) is.
During this exchange we marvelled at the "check engine" light in the dashboard of most if not all cars. In our experience, the most common situation is where this indicator lights up when the fuel tank cap has been left partially opened (note that we all subject our cars to regular maintenance).
While I assume that this is technically correct, read at the end of the post for a detailed explanation... I did, because I don't know the difference between a carburetor and a windshield wiper.
To make matters worse, the light is usually shaped as a motor... so, no fuel cap. And yes, I know the difference between a fuel cap and a motor.
So, WHY? why? oh why? someone decided that they will label the light "check engine"???!??! Even "Check engine and fuel cap" light will be more helpful! Or a cheap sensor and a cable to inform the onboard computer that the cap is off.
The point is that the check engine light is technically correct, but not very useful to uninitiated users.
This very simple example helps illustrates that people are an afterthought in design in many if not all domains. And that sometimes the wrong shape/image can make things even worse.
So, back to financial services.
Here is the information about the check engine light.
The fuel system in your car is a sealed system that traps harmful gas fumes. If the gas cap is left off then gas is able to escape from the system. When this happens, a self-test of the performance system detects this “leak” in the EVAP (Evaporative Emissions System) and the check engine light comes on, and a code is stored.
More in Can Leaving the Gas Cap Off Harm Your Car?