You know the environment in the financial
service industry is very complicated and it makes this industry not so
user-friendly. With the introduction of Fintech apps things are changing like
now it is easier for people to make electronic transactions.
Now most of us think that “what is Fintech?”
So, the Fintech (financial technology) is the
new technology that helps to improve the activities in finance. Basically, the
Fintech is used to automate the insurance, trading, and risk management.
It is not easy to design the Fintech app, many
financial institutions failed to impress their customer with their app. We put
together all the tips to keep in mind when designing the great Fintech apps.
Onboarding
First Impressions
Onboarding should be quick and seamless, forms
should be short and easy, you have to follow the principle “ask the minimum and
give the maximum.”
We know that the financial services operate
under a lot of regulatory constraints and they need lot of useful information
to comply with KYC
(Know Your Customer) and AML
(Anti-Money Laundering) laws.
Make forms great again
The design of the forms has a huge impact on
the users, make your forms simple and use inline validation to catch errors
quickly. Use the progress indicator, it helps users to locate themselves and
creates a sense of accomplishment. Make sure that the user can easily edit and
save the form.
Explain why you need the data
If you need someone’s date of birth then always
explain why you need those details. The few words of explanation are always
good.
Security
Allow only the right one
Security is always the major concern when
dealing with finance. You know the poorly designed security system fails in two
ways, either by allowing the wrong people in or by making hard for the right
people. The SMS verification is not optimal since anyone can get the phone and
sign in. The most secure way is biometric authentication.
Design for the threat model
The threat model outlines which information or
actions are sensitive and require stronger authorization. As long as the
application knows that the user logged in, it can grant access to the low-risk
elements, while keeping the user protected from fraudulent acts.
Locking out
You can implement this feature to lock out the
user after few unsuccessful attempts, this locking out feature is just for the
additional security.
Hide the important details
For example, displaying the credit card or security
codes is very dangerous. Always hide the important details because most of the
people don’t know how to secure their data.
Make things clear
Visualize it
Most of the people don’t understand the finances very well, in that
case visualizing data is very helpful. You can give your users valuable
information in an engaging way. So, help them to understand their spending,
savings, and investments.
Embrace the whitespaces
Presenting the lots of data in a very
interactive way is the important part for your Fintech app, don’t let the lots
of data on a single screen as it creates complexity and confusion. Follow the
given pattern:
• Add
hierarchy to the data with font size, font weight, color, etc.
• Use
the large spaces between layout elements to guide the users through the page
and the focus areas.
Speak your user’s language
Always remember that your user is from every
corner of the world, if you just use one language e.g. English then your information
is the mystery for lots of your users because most of them don’t understand
English. So, try to add multiple languages in your app, it helps your users to
understand the finances easily.
All about the digits
Pick the right fonts
Make sure that the font you choose, supports
international currency symbols. It might come as a surprise, but lot of them
don’t! If you have already paid the license, using ISO codes (such as EUR, USD,
GBP) instead is a worthy alternative.
Check Numbers, Data and formatting
It is a big world and things are different in
different places. We have different ideas when it comes down to numbers for
example 2,000 and 2.000 might be two or two thousand, depending you are
American or French. If the date is written like 9/2/2015 it might be September
9th or February 9th.
So, make sure to be consistent in your designs
and communicate with the developers to implement localization.
Red is not always good
Spending more than you receive is always
irritating. So, don’t make the users feel worse by showing those negative
transactions in red color. You can save the red to address real issues or
errors stand out.
These are the ideas to design the UX/UI of your
Fintech apps. We all know that the finance world is very complicated to
understand that’s why to keep the UI/UX of your app is simple and interactive,
don’t make it formal.
You know, what are the main reasons for banks
to invest in app development? The banks just need to decrease the crowd at the
bank’s branch and make banking easy for the customers who don’t like to go to
the branch.
Mobile application helps banks to automate
their system and it is also beneficial for the customers also. Now you don’t
need to go banks and stand in the long queues to make the transactions from its
own account.
Designing the apps for finance sectors is not
an easy task, as a developer you have to consider several factors and security
is the most important factor. You have to choose the app development company
carefully because the success of your app depends on that company. If you are
looking for the app development company in the UK, then contact Fifium now. We
are the best in business and our experts provide you with the best solution for
the development process. Contact us now.
Thank you so much for your information!!! Zinavo Technologies provide web design & development with good quality if security in your website. Website Designing in Bangalore | Website Developers in Bangalore | Web Design Companies in Bangalore
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