Designing UX for Fintech

Tips and tricks for designing UX for Fintech

Identify value of product

Value of Fintech product

First you need to identify the main problem that the product is trying to solve. The strategy begins with identifying the main problem of the target audience of the product and ways of its solution. If the user feels the difficulty in using existing products, we have to help him and think how we can simplify the use of the product and reduce the user’s information overload. To do this, it is optimal to collect feedback and find out the weakest points in the existing product. Then do a quick correction work and create a new prototype with the amendments and check the new feedback from your users again. And this process of testing hypotheses should be on an ongoing basis to improve the product.

Deliver product value to its user

Deliver product value

A potential new user of the product must quickly understand the value of the product, otherwise he will simply leave unsatisfied. The main task is to make the user understand what distinguishes the product from competitors, what benefits it brings. It should be noted that the distinctive features should be obvious for the perception and evaluation of the user by the target audience. In today’s world, users want to see their benefits in numerical terms, they want to know how accurately this product is faster, cheaper, more stable, more reliable. To achieve this, you need to select a few key indicators that will combine the accessibility of understanding as well as the value of the benefits of using the product user.

Typical sources of value proposition

A startup can create the value of its offer by reducing the cost of the services of intermediary, such as a broker. This can be achieved by switching business processes to the blockchain system.

A startup can create a new market niche at the junction of two traditional products. For example, to create a product that will have the functions of a digital bank and freelance exchange.

A startup can create a new market. For example, now the market for issuing loans has an old design. Implementation blokchain system and reducing the cost of services by eliminating the labor and intermediaries can provide significant value.

Simplify the interface, focus on the main features

Simplify the interface

Financial products are now very overwhelmed by information that only distracts the user and may prevent him find the key performance indicators. An important aspect of the work of the financial product is a user notification of the profits, the need to make a payment, the possibility of withdrawal of money, and so on. When working with a user notification, it is very good to use creative illustrations with the necessary themes, which will give the user positive emotions of the experience of interacting with the product. Otherwise, in our opinion, the future of the interface of financial products will be associated with the constant simplification of the data structure as well as the interface design, so that nothing distracts the user and cannot take away his valuable time.

The implementation of gamification.

Using gamification

Recently, more and more products are using gamification techniques to improve behavioral factors. Users are always pleased to participate in contests and promotions with transparent rules. This interaction has mutual benefits for both the user and the company. Implementing a game mechanic can add value to a product. For example, an affiliate program system with flexible mechanics of bonuses may be of interest to active users of this product. The implementation of distinctive ranks for the use of the product may emphasize to the user that he successfully uses the product and perhaps he did not notice earlier that the first year of using the product passed so quickly.

White or black interface?

White or black interface

In developing fintech products, it is very important to know your target audience and its interaction experience. For example, fans of the black color scheme are advanced users who are used to working with the black color scheme in text editors. White color scheme will always be relevant to people aged over 35 years, because it is more easily accepted by people with sight problems. The disadvantages of a black color scheme can be attributed to its poor screen display of cheap mobile phones and laptops.

Fintech Language

Fintech Language

In choosing a font for fintech products, first of all, you need to pay attention to the ease of perception of numbers and especially special characters, such as $  In a sense, convenient information perception of numbers is more important than word perception. It is also very important parameter of the flexibility of the font, its ability to use in a narrow space. Several recommended font families are Roboto, Lato, Titillium Web.

The color scheme can both prevent and successfully help to quickly understand the information shown on the screen. It should be noted that the experience of interaction rooted the use of primary colors. Red and green for sale operations, shades of blue and violet are very well suited for buying operations. It is also very important to use as few colors as possible so as not to mislead the user.