usability testing

How usability testing helps save money and increase profits from a Fintech product

Usability testing is a critical process of testing Fintech product with real users in real-life scenarios of interaction with the product. It is also a great way to improve a product, to get valuable information about what is working and what is not. As a result of usability testing and design stakeholders will be able to accurately determine the current product issues and their possible solutions. Usability testing is applicable to both existing products and new startups. Usability testing is applicable to both existing products and new start-ups at the design stage of user experience, before the project goes to the development team. The ability to collect feedback is priceless. The information gathered can help strengthen not only the product design, but also indicate new trends in the market, or its complete change and the need to revise the product strategy.

Testing usability is also the stage of tight interaction with the target audience of the project, monitoring the users’ reaction when they use the product, a more accurate determination of the needs of the target audience of the product at the moment and an assessment of the usability of the product.

The main advantage of usability testing at the prototype stage of the product is the earlier identification of usability problems with the design at this early stage, until the product has been given to the development. The establishment of problems during testing and their prompt solution allow you to make a user-oriented product and save money in comparison with the detection of problems at the stage of the launched product.

Typical goals for testing Fintech products for ease of use

  • To improve navigation
  • Availability of information on financial transactions
  • Easy registration online account
  • Ease of use on mobile devices
Conducting usability testing

Conducting usability testing will never be superfluous, because it saves a lot of money and helps to make the product more successful and competitive in the market. The cost of an error for each detected error during the deployment phase is very high.

The results of the usability testing

  • Improved conversion rates
  • Increased brand awareness and trust
  • Improved product design without losing the uniqueness of usability.

Types of usability testing methods

To increase the effectiveness of testing usability, various methods are used that can be easily divided into three main groups: explorative, assessment, and comparative.

usability testing

Explorative methods should be used in the very early stages of designing user experience. For this purpose, wireframes are created based on hypotheses to improve the product to track the reaction of the target audience. The main goal of research methods of testing is to establish the usability of the interface elements of the product, whether the overall concept of the product is clear, the establishment of accurate emotions during interaction with the low fidelity prototype. Despite the lack of a completely complete user interface, explorative methods help identify global interaction problems.

Assessment methods are used to assess usability at later stages, when it is possible to check the usability of the product by the user using a high fidelity prototype. This method allows you to more accurately assess user satisfaction, their assessment of the concept of interface design. Various experiments and possible changes in the visual part of the product give feedback to users’ reactions, identifying interaction errors. The collected information is promptly used to improve product design.

Comparative usability testing methods help to choose one interface option among several proposed ones. In the process of comparative testing, the advantages and disadvantages of each of the proposed prototypes are determined to make a decision on a compromise solution that can satisfy the majority of users of the target audience. It is also possible, based on the results of comparative testing, to take one of the prototypes as a basis and supplement its functionality with the most outstanding features of other prototypes.

Each of the above methods is able to provide valuable recommendations for improving the product based on real feedback from users of the product.

Preparing for usability testing and its execution.

It is very important to properly prepare and organize the process of testing usability. Each test participant should feel as comfortable as possible to get reliable results. But first of all, you need to define a clear topic that should be tested. For example, select the topic of the first registration and account replenishment. For example, select the topic of the first registration and account replenishment, ask the user to describe his experience of interaction associated with the registration path, which will also be related to the start of the replenishment transactions. It is very important to properly configure a task, the implementation of which should not overlap with others.

It is also very important to identify potential weaknesses along the way. Ask the user for a prepared list that may confuse him and hear his recommendations for improving the interface.

UX Testing

It is also necessary to clearly and concisely formulate the task and the script for the user so that he can easily understand him and tried to do it without help. For example, it is the task of the two actions – registration and making deposit, you need to perform consistently. It is impossible to ask the user to perform two tasks, as this will cause confusion.

After testing, it is important to collect as much information from the participants as possible, their impressions and suggestions for improvement are structured and a report on the usability of the prototype product is generated on their basis.

Usability testing methods

Today, there are many methods of usability testing, all of which have their own distinctive features and capabilities. Depending on the topic of testing and goals, a more accurate testing method is selected for an optimal balance between the accuracy of the results and the cost of the testing itself.

Let’s consider the basic techniques and their possible use

Hallway Testing

Hallway Testing

The essence of this method lies in testing the product on completely random people. Such testing can take place in any location, such as a shopping mall or business center. The main advantage is the most affordable price for testing and wide audience coverage, which as a result gives a good amount of information about the value of the product, responses, and suggestions for its improvement.

Remote Usability Testing

This method is very good in cases where it is necessary to test usability on users from the audience of another country or continent without the need for physical contact with it. Remote usability testing is of two kinds: synchronous and asynchronous.

Remote Usability Testing

Synchronous remote testing is a survey of users in real-time for example by means of videoconferencing, in order to have the opportunity to correct the testing course itself or ask clarifying questions. Today, remote usability testing can be conducted on any matter with any audience thanks to an online service, the only drawback may be the need to find a convenient time for interaction provided a large time difference between the designer and the use , so that the user feels comfortable.

Asynchronous testing is a remote testing of a user’s product according to a previously prepared scenario and their answer to questions prepared in advance by the designer. Information and the course of testing itself are recorded and transferred to the designer for study.

With the help of remote testing is possible with a relatively small budget to test the usability of the product on the remote target audience. As a result, it is probably better to find a compromise design of Fintech products for various countries and even continents.

Expert Reviews Testing

Expert Reviews Testing

This testing method provides an opportunity to get feedback from experts in this field. The value of this method is to quickly carry out due to product testing only on a few users who are experts in this field and can clearly evaluate the product design. The main task when using this method is to find a relevant expert for this target audience.

Paper Prototyping Testing

Paper Prototyping Testing

The essence of the method is to check the usability of low fidelity wireframes, which will be presented to users in various ways. The main advantage is a simplified testing process and tight interaction between the designer and the user to get feedback and suggestions for improving usability from representatives of the target audience.

A/B Testing

A/B Testing

This is an experimental method of usability testing, the main difference of which is that the user must pass the script and perform the action on two prototypes and then to answer questions relating to the question which of the two better usability. The disadvantage of this method is the need to work out two different concepts in order to test in the future the real users of the financial product.

Benefits of Usability Testing

Constant usability testing helps to find problems with the usability of a financial product design, which may not be apparent at first glance, as a result creates a qualitatively new level of user experience. Trust in our experience, usability testing is always necessary even in the most obvious solutions.

Using usability testing to improve product quality is reasonable and necessary. Spending money on usability testing gives confidence to identify and address problems early products and putting you one step closer to the creation of an outstanding product.

Benefits of Usability Testing

The result of the test will be

  • The product will be aimed even better at the right audience.
  • Improved product uniqueness.
  • Improved product structure
  • Improved behavioral factors

Good design goes to heaven, bad design goes everywhere

Mieke Gerritzen