4 Things to Know When Mastering FinTech App UX Design

While many banks all over the world are losing their customers, fintech applications are gaining even more attention. Traditional banks have had a powerful position in the market for many years, but after the crisis in 2008, we have seen the increasing popularity of fintech applications. The fintech revolution has brought a lot of innovations, such as better financial management tools, mobile payments, crowdfunding, fast loans, and peer-to-peer lending. Every fintech application with all its incredible innovations included needs an intuitive UX and a beautiful UI. In this article, we will consider the top practices and tips that will help you create an almost perfect user experience design for a fintech application in 2020.

Focus on the customer journey

In the best scenario, every mobile app is desired to be human-oriented. When it comes to fintech user experience, it’s particularly important. You should make sure that your application satisfies basic customer needs and helps solve the most common customer hardships related to finances. To create a UX design that addresses all the customer requirements, you need to conduct a customer persona research to get a clear understanding of the target audience, the end-users, and their most common problems.

Along with satisfying the basic customer needs, an app should bring something new into the user experience to be competitive and stand out in the crowded app store. In-app illustrations, animation, and excellent gesture-driven design can add the desirable freshness in the app. 

Avoid information overload

When creating the design, you should always keep the user in mind. Try to think like the user and understand what spots in the user experience can evoke some questions or difficulties. Most of the people using fintech apps don’t precisely know what all the numbers in their financial data mean. Hence, the designer’s primary task is to make it easier to understand, providing some visual tips or explanatory animations.

Try to keep the user interface as simple as possible. When it comes to fintech app design, minimalism is the most reliable practice. Don’t overload the user with unnecessary details and decorations. Strive to make every screen clear, all the information well-structured, and all the interactions intuitive and almost invisible.

Simplify complex data into action

Since mobile applications for financial services come with a certain amount of friction, they should have a straightforward user experience design that requires little effort from the end-users. Great fintech applications should translate complex financial data into simple, meaningful, and actionable information.

In fact, simple interfaces are more easily handled and memorized because the neural links in a human brain are being created much faster if it is not overwhelmed with too much data and operations.

The user’s brain always tries to simplify the perception of things inside of an application to forecast the end-result of the interaction. That’s why it is crucial to provide solutions that are easily predictable. It helps reduce cognitive user load and gives a feeling of control over things in an application to the user. Try to avoid offering too many options at the same time because they may confuse the user, evoke misunderstanding, or lead to negative user experience. 

Guide the user

Pay particular attention to effective user onboarding because it can hide half of the digital product’s success. You can use the introductory screens, animated tutorials, visual tips, or bright call-to-action buttons to motivate them to follow the scenario you’ve prepared for them.

In recent years, animation has become a significant part of user experience design and onboarding, in particular. By adding animation into a UX design of your mobile app, you not only contribute to the intuitiveness and usability of your product but also add one more competitive advantage – the unique style.

Security

Security is one of the most critical aspects of product user experiences in the financial sector. Creating an easy way to make transitions always comes with the challenge of making a secure and safe transfer of money. Fintech apps usually ask users a lot of personal information that will meet financial regulations and fulfill their functions. To allow user to manage their money more effectively, these apps should also have extra security features, like additional log-ins and notifications.

Conclusion

While most companies try to redefine the market, you have to put your customers first, and design plays an essential part in the end user’s journey in fintech. Fireart team has been happy to share these four practices with you. Hopefully, they will inspire you to create a human-oriented design and help you design a fintech app that will become the new market hit from fintech app development services.

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Kostia Varhatiuk Head of Product Design

Passionate advocate for the good design of products and services, with a history of working in the various fields. Fully committed to delivering outstanding experiences and solving business needs.