Fintech App UI/UX Design: Driving Growth By Creating A Better User Experience

Fintech or financial technology is an emerging sector of business. From public to private enterprises, every individual and business is somehow reliant on Fintech services because technically enabled financial services are the need of the hour. Financial services and institutions have existed for decades. The technology part of it is what is evolving today. Apps and device-enabled portals play a major role in the evolution of fintech services.

Therefore, app development companies have also become Fintech web app Design Company for foraying into the emerging sector. Each sector needs different solutions designed for its customer base and their needs. Fintech apps cater to a very diverse segment of customers with specific needs. The fintech apps fulfil the customers’ needs with the help of app features and the app UI/UX design.

UI/UX design plays a fundamental part in the success of a fintech app because what the user experiences decide the popularity. Every user of a fintech app wants to use a simple but useful app that is a high-performance solution to financial queries. Fintech apps need a robust UI/UX design framework that only the best and most balanced User experience design services can provide. Before we go into how a UI/UX design agency designs a good fintech app, let us understand the requirements of a fintech app design project.

A designer must understand what a common user expects from a fintech app.

Also read: Why Businesses Should Consider Making UX Design A Priority

The main objective of a fintech app at the introduction to users is building trust and confidence in the virtual interface.  Even with the increased use of apps, most of the population, especially at the grassroots level, does not trust virtual apps with their money. A large section of the population still likes to avail of financial services traditionally because they feel like the services have more transparency.

Therefore, if an app company wants to float a universal, popular fintech app for its users, it has to focus on the UI/UX elements that help build trust and deliver an element of transparency to the user. The best way to penetrate diverse segments of the target audience is to convey a sense of safety and data security while using the app. The UI/UX design should deliver a sense of safety from fraudulent transactions. This helps build customer confidence in the app. Once the customer is confident about using the app, he will hardly switch to any other app for financial management.

With transparency as an objective of app design, fintech apps need a full-fledged feedback system that keeps them in the know and helps them track their financial decisions and actions. Whether it’s an error message on a failed transaction or a success message on an emergency transaction, messages and feedback from the app system are necessary pillars of the app UI/UX.

The customer thinks of the fintech app as an assistant and advisor in the financial decision-making process. Therefore, the feedback system needs to be conversational, simple, and clear. Whether it’s the suggestion of policies based on a person’s spending habit or his regular bill payments, the feedback system needs to cover different aspects of their finances. The system must be clear and easy to interact with from reminders, recommendations, and payment signals.

A fintech app needs access to user data and personal information like bank name, bank records, name, location, phone numbers, and contact information. Frauds and hackers can use highly financial information to carry out fraudulent transactions. In such cases, the user needs constant reassurance that the app will keep the personal information safe and only collect it for a certain purpose.

The UI/UX design has to convey to the user that the information collected is only used to help the user and not share it with third-party elements. This helps build confidence in the app from the user’s side. The app needs to be clear about why the information is collected and how it will be used.

Also read: Why Your Mobile App Design Should Start With User Experience?

The objective of any app is to retain users and build a loyal base. For fintech apps that deal with such a crucial sector, customer retention is very important. Customer loyalty is not difficult to create since users search for comfort and familiarity in this sector. Therefore, the Fintech user experience designers must pay special attention to design elements that enhance the convenience and retain customers with their usability. The Fintech mobile app design specialists combine an interesting, simple design with functionality that makes the app a one-stop solution for all financial services.

Now that we are clear about the customer needs and expectations let us understand how a user experience design agency can create the best UI/UX framework for a fintech app.

When it comes to fintech apps, it directly impacts the customer segment. If it does not succeed in the customer segment, it is meant to be a failure. The basic point that the designer needs to understand is that people come from different economic backgrounds in society. Different segments have different financial behaviour patterns and different financial needs.

The designer has to collaborate with the concept team, understand the segments’ needs, and create them. The basic principle of UI/UX design is to create for the customer because it is for the customer experience. Since fintech apps are heavily based on experience, the designers have to emphasize their needs in the Fintech app UI UX design.

The rule of creating a wholesome, universal, customer-friendly fintech app is to create a simple UI/UX design. The customer should not feel like he is dealing with a cluttered app that is difficult to use. The actions and features should be concurrent with the overall layout and simple to use.

The design elements should be minimalistic and should not be content-rich. Content in the financial sphere can be complex and makes less of an impact on the end-user. It is better to minimize content and put more effort into icons and visuals.

These are some principles and thought processes to follow when a Fintech web app design company needs to create a large-scale fintech app for a wide market. Uaxe Labs as a UX Design Consulting agency ensure that the platform operates with maximum user experience. A good UX designer team ensures that the website fulfils its goals and exists in relevance.