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Newer financial products like Revolut and N26 make this possible by ensuring superior security. Their use of whitespace and emojis makes the design more human and less foreign ��. Respectively, it allows the product to significantly improve the experience of managing money. You may think Revolut is just keen on staying out of traditional banking and its vocabulary, but the company just can’t call itself a bank. This densely packed trading terminal I designed illustrates how fintech UIs often deviate from typical best practices for minimalist design. This transaction window that I designed for a cryptocurrency ATM and exchange explicitly states that the amount of bitcoin purchased is approximate.
- Work closely with your team’s legal counsel, as the legal requirements vary.
- Not only fintech is unglamorous, but it can also be challenging to design for.
- Here, we’ll guide you through trends relevant to the fintech design in 2022 and how to outsource your project properly.
- The niche jargon and the complex mechanics of finance rarely provided for a satisfying experience.
- Unfortunately, this approach has made traditional financial applications look similar – complex, boring, and not user-friendly at all.
However, getting a rough estimate from the development company will tell you a lot about the company’s workflow. We at Relevant do a rough estimate after a briefing with a client. Our document usually includes the assumptions, proposals, project limitations, and questions.
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And there are more such obstacles you should be aware of when working on the UI/UX design of a fintech app. While banking apps tend to have more traditional UIs, trading terminals have their own rules. For example, it’s not unusual to see dozens of columns of numbers rendered in eight-point fonts in order to pack as much detail onto the screen as possible. That’s not an accident—financial pros must pay attention to and react to an enormous amount of information that changes quickly, and the more that’s available in one glance, the better. Today, factors such as cost, location, or technical stack are not enough to choose a Fintech software company.
A great way to help your users navigate this terminology is to have a dedicated glossary that will host the definitions for them. Clear copy can help people make better financial decisions, without having to learn the terminology. That, however, doesn’t mean that we need to entirely remove financial terms.
An app for financial planning and analytics
They drive visitors to the page, ask for their opinion, and thus personalize the product or service. The ability to personalize the interface and make it individual was to the taste of many users of mobile and web applications. Apple was the first to pick up on this trend with various widgets in the latest iOS 14 update.
What is the purpose of FinTech?
The wider objective of FinTech is to serve the unmet financial needs of those segments of the population which are not the core target segments of traditional financial services models. Thus, FinTech aims to contribute to the larger goal of financial inclusion.
Those who notice a new way to simplify these processes are onto a huge opportunity. Fintech startups face KYC and anti-money laundering compliance requirements like traditional banks. These procedures inevitably complicate the customer journey, and UI designers must adhere to stringent standards while maintaining a robust user experience. Approximately 80% of customers use only 20% of all financial application features. It is important to identify the scenarios that cause user experience problems and simplify them with UX design for fintech. For example, we recommend simplifying filtering and searching for transactions, accessing balances, creating payments, and blocking cards. If you don’t have anyone in your internal team to do this you can leave it up to the experienced team leaders within the outsourcing company.
Boost Your Fintech App With Impeccable UX
FinTech apps, mobile ones especially so, are not just a tool to transfer money from one place to the other. Nowadays, fintech encompasses a huge range of financial operations for both an average joe and a finance executive. That’s the way fintech companies bypass bureaucratic obstacles so they don’t affect user experience.
