According to the latest survey done worldwide, it is been predicted that by the year 2020, the value for fintech apps market will have its bang and demand for fintech apps are reported to grow drastically and time of underestimating UX and UI design is gone.
Attractive user experience in designing apps is as important as technological aspect such as safety mechanism and payment process.
Even a well trained designer in fintech app, doesn’t find easy to develop an outstanding app for several reasons. In this article, we shall tabulate several reasons why it’s been found so hard.
Reason 1: Complexity in UX
The major common mistake that a designer make is that they implement what satisfy them rather than it satisfies end user. This won’t always be the case, especially when you’re designing fintech apps that have different set of experience with technology stack should gain.
What could be perfectly easy for tech-savvy users to understand and not be perfectly easy for beginners, how they interact with UI that everything, a designer should know.
Designers operate in detailed scenario for deploying the fintech application. So, when you’re designing a fintech app, every designer should know this important rule — A fintech apps always deal with users’ money, there’s no place for confusing features and imperfections.
As well as, dont forget — need to choose designing elements as simple as possible and as interactive as possible.
Reason 2: Getting users’ data
The fundamentals of good designing sense is to understand the users where to get their data as input as you need at that particular moment. Asking too much data at one form often making users to bounce from here and there. Sometimes you have no choice due to legal regulation, you don’t want to undermine them. Check with other demanding apps to get easy UI flow.
In this case, a Fintech app designer stays at different solution now. They include explanations (assistance notes) why using the app, why application requires certain necessary data. In few case, designers break down the forms into a couple of steps to make the users to feel good at collecting users’ data.
No matter which solution you choose, it possesses another challenge within itself: creating clear, user-friendly instructions.
Reason 3: Security
A big part of fintech app development is filtering sensitive problems: fraudulent activity. Out of the available security solutions, such as sending one time signin link, verifying SMS or verifying biometric authentication, the experts will pick the most appropriate ones for particular levels of protection.
In fintechapps, one of the designer’s challenges involves making these data sensitivity problems as humble as possible.
Reason 4: Optimize the on-boarding process
If you imagine that you are offering a service to a potential customer. There’s a lot you need say to on-board them properly. How would you approach with the users? What would be your way to keep the user’s attention on what you’re saying?
The first thing is you need to realize that “give me your sensitive data” is not a great conversation starter. Neither does it create a safe space for further contact. Building trust and a positive relationship with users starts from the very first impressions.
Solution : Demonstrating the benefits of the app and engaging the user into interaction will create a much more relaxing atmosphere and keep attention away from the less pleasant part.
Reason 5: Money and emotions
“Money does not buy you happiness, but lack of money certainly buys you misery.” — it is perfectly described the real way people feel about money. The word feel is key.
That’s the way human brains work — without emotions, we would feel permanently overwhelmed by the amount of information that surrounds us every day. When designing any fintech app, the secret to understanding the user lies not only in understanding their logical actions but also feelings.
Fintech apps contain a certain paradox inside them — they connect the “hard” matter of money with the “soft” matter of human emotions.
Reason 6: All the numbers in the world
Data related to finance requires special attention in terms of formatting:
– Numbers and fractions display mode You don’t want to worry your user by presenting their account balance with a wrong punctuation mark, e.g. 2,000 instead of 2.000.
– Date and time formatting 9/2/2018 will mean something completely different for Americans and Italians.
– Currency rates and the number of digits
– Currency symbols The font you choose should display all of them.
– You need to see numbers from a different, global perspective to have all these features covered.
The challenge for UX and UI designers is to help users overcome the difficulties in finance management by building trust with the user. GoProtoz will help you develop an effective approach to fintech app UI/UX design