Fintech

Essentials of UX/UI in mobile financial service app development

Aleksandra Rajczyk

Nowadays, fintech UX design and fintech UI design play key roles in mobile app development. The terms are very similar, but they don’t refer to the same thing. The confusion around the terms probably stems from the overlap of the skill sets and tools that are used in both disciplines. In financial services, both UX (User Experience) and UI (User Interface) are focused on in the design and development of apps. UX and UI are almost impossible to separate from each other. 

While UX focuses on the app’s effectiveness and enjoyable use, UI helps users accomplish their goals across platforms and services with little to no effort. UX and UI designers work on the same projects, in the same areas, to achieve nearly the same goals. So, what is their relevance in mobile financial service app development?

UX/UI design essentials

The first thing we need to highlight is that the performance of UX/UI in mobile financial service app development is kind of invisible. We cannot literally see it but if the application performs well, it has been well designed. The purpose of a mobile financial service app is to work exactly as users expect. The most important elements of an efficient UX/UI design are:

  • Elements users recognize well – the app should use symbols, colors, icons, and buttons users already know. Confusion discourages users from using the app. Designers should use standardized elements – this will make your app user-friendly and more convenient. An average user should be able to use your app with no manual. 
  • App speed – no one likes wasting time while waiting for an app to load. Fix this as soon as possible! The slower the app, the more potential users disappear forever.
  • Prompt access to the bank account – when it comes to financial services, design isn’t as important as functionality. An innovative layout should let users enter their bank accounts in seconds. Immediate access to financial services is absolutely crucial. Also, forget old-fashioned verification via passwords.
  • One-click view for all accounts – again, an intuitive and easy-to-navigate panel is of utmost importance. Users of a financial service app should have instant access to all accounts in the same application. Deposits, expenses, and credit cards, with a full banking history combined in one place will be appreciated by users.
  • Money transfers and bill payments – nowadays they are as easy as sending a message. While developing a financial service app, make sure it doesn’t take much time and energy to transfer funds. The ‘Send’ button should be easy to find and intuitive to click.

So, you now have some basic knowledge about UX/UI guidelines to follow so that your financial service app is more likely to be successful. Let’s then dive deeper, in particular, UX and UI characteristics separately to get a better understanding of how they affect the general feel about a fintech app and user experience.

Fintech UX design case study

The primary goal of fintech UX designers is to take care of the overall experience of the user and the personal feelings that user has before, during, and after using an app. The best mobile apps from the financial sector are simple and easy to navigate. When it comes to attractiveness, a financial service app should be, first and foremost, elegant. We all want an app to stand out from the crowd but when it comes to financial services, app speed and stability are more important than visuals. Keep this in mind while testing colors and icons. 

Fintech UX design determines whether the user returns to your app or gives up on using it in the future. Ask yourself if users can make payments quickly and smoothly? If yes, they’re following the path you’ve set up for them. 

How can you measure user experience with your app? Check how much time they spend using your app to complete a transaction. Test different solutions and compare the results on a regular basis. Then, track user patterns via usability tests – this will let you work on even better solutions, and in consequence, develop a perfect mobile financial app. It may turn out that a small modification changes how your users feel about your app. 

Fintech UI Design

No, it’s not just navigation design and an intuitive menu when it comes to fintech UI – there’s a lot more to cover. UI is all about the engagement of the user in your app. Are all calls to action visible so that the user doesn’t have to think about the next steps they need to make? If they just go with the flow, it means that you’ve designed your fintech app well. If users figure out all features instinctively, you’ve done your job even better! 

Your financial service app, from the UI point of view, should forge engagement between the app and the user. Add short info about ongoing activities, e.g., when the page is loading or when a payment is being processed. Remember that most of your users are going be digital natives; they’re very quick to notice when an app responds to their needs and when they get stuck. Professional UI designers with years of experience say that a good UI design goes unnoticed by the user – stick to this rule while developing your mobile app. 

Above all, make sure your app is able to handle everything you’ve put into it: adding high-resolution animations and other demanding elements will slow it down. That can be the single reason why your users leave the app even though there’s nothing wrong with your fintech app UI or UX. 

Conclusion

UI/UX design plays a huge role in mobile financial app development. It’s your role to work out the layout that will bring the most value to your consumer. Make sure that the features you’re introducing are beneficial to the user – usability testing is necessary; otherwise, you will waste time and money on a feature no one uses. The general feeling about your app, as well as functionality, is crucial – it decides if the user will keep using the app or switch to something else.

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