Why is FinTech Design Important

We live in a digitalization era when almost anything can be done from a smartphone. Fintech (financial technology) products are not an exception, moving banks and ATMs to mobile phones and tablets. Checks, cash, and piggybanks are rarities now—people prefer to track their expenses, invest, make purchases, and pay for services wirelessly. Understandably so—why bother when anything you need can be done in a blink of an eye? However, the widespread development of digital fintech products and the need for them has determined that any financial startup is only as good as its application. And here fintech app design comes into chat. Simply put, the usability of your application will define its viability. If users struggle to understand its interface, are bothered by the overload of features, or are confused with its copy being too complicated, they will abandon it. The market will provide an alternative; it is convenient for them but not so much for your product that will sink without customers. This is why fintech design matters: it will make your product client-centered and help you build trust-based relationships with your customers and win their loyalty.

What can go wrong when the best FinTech design practices are neglected?

When you are launching a new digital product, reaching a fintech design agency is a must. It is better to do it as early as possible: at the later stages of development, problem-solving can prove too costly. Professional designers will help you build a perfect project from scratch and avoid fundamental issues, such as:

• Customers are bored. Finances are much less exciting than diving into an endless ocean of entertaining content. And when something is hard, frustrating, or stressful, we subconsciously try to avoid it. The product that users do not use is a dead product.
• There is too much unnecessary data. Our environment overwhelms us with information as is. The last thing the user needs is to add more through the application and exhaust the last mental energy they have. Also, when too many things are demanding our attention, it is easier to make a mistake that will be ten times more frustrating when costing money.
• Overcomplication. Too many layouts, complex navigation, and countless features can make using your application too cumbersome for users. They will react by switching to the competing product that is simple, practical, and has fewer functions but keeps them easily accessible.
• Financial language becomes too complex. Your users likely do not have a PhD in finances and can be frustrated due to the abundance of specific terminology they cannot understand. And we already know that frustrated users stop using the product.
• Bad UI/UX design. In fintech, customer experience matters as much as anywhere else. Unclear CTAs, too many options causing decision paralysis, non-intuitive solutions—all these issues will drive your customers away.
• Security breach. Fintech products control your customers’ money. Ensuring their safety is a MUST.

What benefits can provide good fintech design?

We talked about scary things and bad endings a lot. Now let us look at the bright side and see what happens when you hire the best fintech design specialists.

• Your brand becomes trustworthy. Top-tier companies, like Apple or Google, that put user experience first, earn their customers’ trust and loyalty. For fintech, where clients literally trust you with their money, this is especially valuable.
• Ensures privacy and security improvement. According to Boston Consulting Group, the financial field is 300 times more prone to hacking, data breaching, cyber-attacks, etc. Caring UI design will help customers to better control their privacy and protect their resources. Implementation of strong, thoughtful, and straightforward security solutions, such as reliable passwords or two-factor authentification, will allow you to create a product that can guarantee safety.
• Gamification. Finance is a serious theme but it does not mean it has to be cold and boring! Bringing gaming elements can improve users’ engagement and motivation and even help them achieve better results in controlling their budget.
• The app operation is plain and straightforward. When critical data is right at hand, time-sensitive information can be accessed and dealt with swiftly and easily, then the client’s workflow becomes smooth and pleasant.
• Functions and features are useful and valuable for the customer. When the fintech app design is simple and transparent, your CTAs start working, and customers enjoy using it.
• Clarity of language. A professional team will help you maintain the simplicity of your copy, so as not to confuse the user with too-professional terminology and help them reach their goals.
• Positive user experience. Rewards for preferable actions, clear and engaging CTAs, simple and comprehensive interface—all these details will ensure that your customer remains loyal to your product.

Where to find a trusted fintech design agency?

Now that you know how much value good fintech design has, the question that remains is where to find suitable specialists. But for this question, the answer is simple. Arounda is a fintech design agency that specializes in bringing your product to perfection. The agency is ready to grant you the services of a professional team with vast experience in fintech design. From a banking platform to budget management, they will ensure that your customers will enjoy the product we create together. Top-tier security, compliance with AML and KYC guidelines, and satisfactory users experience both in terms of operation and results—Arounda is here to help you launch a strong, trustworthy product that will win hearts. All while maintaining transparency in the development process, always keeping in touch with you, actively listening to your feedback, and adapting to your needs and vision. Contact us to get a consult! We are here for you, ready to assist in the creation of an impeccable digital solution!