The rapid growth and development of the fintech market require not only technological innovation but also design advancement. The user will choose a convenient and easy-to-use application out of hundreds of equal products. The trust and loyalty of users are won by product designers, who incorporate the basis of Product Thinking in their design.

Product Thinking is a holistic approach to creating a product based on the needs of users and their experience of using the product. The keyword here is integrity. After all, our brain is arranged to perceive everything in a complex, building connections between the elements and forming a general picture. Furthermore, the user interacts not with a single screen or page but with an application as a whole. And this creates a clear impression of the product.

At a basic level, fintech applications are very similar to applications in other industries. But, working with them, you will undoubtedly face the challenge of transforming something complex into something simple that will be understandable even for a kid. So what does Fintech UX design consist of, and what are the pitfalls? We share with you the following tips about fintech UX design which are worth paying attention to.

Remember the user’s subconscious

According to research, more than 80% of user behavior is determined by the human subconscious. And finance is an artificial concept that lies in our rational consciousness. That’s why people don’t know how to control their financial behavior and find it challenging to count money. As a result, many people don’t trust banks and use only part of their services, thinking this is all a deception. However, Digital technologies in fintech are helping to make the banking system more transparent to the user.

user subconscious during UX fintech design

remember the user’s subconscious

Only by understanding users’ needs designer can make finances more evident to users.

Our design studio Gapsy has vast experience in financial projects designing, so we decided to create a step-by-step checklist on creating an intuitive fintech UX design to increase understanding of how to behave with a financial services consumer.

Key things to remember during the fintech UX design

Step 1. Start with Why

The question “why?” allow you to go from a simple “to make payments in the fintech app” to the deeper user needs.

Knowledge of human psychology and motivation is also always helpful. After all, even if you need to transfer money quickly and easily, there is a more fundamental need to control your life. This is one of the real motivations of every person.

As a result of the first stage, we understood what we do and why. Now you can think about how to do it. Most importantly – we received specific hypotheses about what our users need, based on which we further validated specific design solutions.

According to research, one of the most critical indicators for entrepreneurs was understanding the current state of their business. For example, a business owner enters their own application and asks only one question, “How is my business today?”. Intuitive UX can help control and effectively manage the business’s financial resources, one of the components of successful entrepreneurship. This includes the ability to easily see the current balance, its change, transactions that require attention (pay, confirm, reject, remind counterparties of the transfer), and make payments.

You have to think about the interface, not at the level of “Where to put this button?”, But at the level of “Users need to see the status of payments to control the flow of funds effectively. How to do it in the best way? ”

Step 2. Create usage scenarios

Having defined business and users’ goals, we should build custom scenarios – the necessary actions that help achieve these goals. Each scenario should be written in detailed steps, considering the product’s legal requirements and technical limitations.

For fintech, the active users are those who performed at least one operation.
What does it take to complete this operation? Take the first step – add money to the application. What is needed for this? Enter data from your card. But for the users to top up the account, they must first register and pass verification. Here are basic custom scripts from which you can build others. As a result, you made a chain of necessary actions, rather than leaving the user alone with the application design, hoping that they will understand how everything works.

Read also: How to make a user persona to speed up the process of creating usage scenarios.

usage scenarios for UX fintech design

create the usage scenarios when designing

The results are usually stored in a text document. The text allows you to focus on how the product works – to create a complete history and check for sagging in the logic of the development – without being distracted by the visual part.

Step 3. Build a journey map and an application map

Next, we build a visual structure of custom scripts in the form of a flowchart. This allows you to see how the product works in a system of elements and their relationships, where the users will start, where they will go in each case. Block diagram elements – future interface screens.

build a journey map for UX fintech design

create the user flow

Using a schematic sequence, we build and connect user actions into one whole (where) and think of states (what if?). At this stage, you can see the key links critical to the business worth paying attention to. For example, here, the user needs to make a specific choice (how is it better to organize?), Here to enter data (how to make it convenient?). It is also essential to identify recurring patterns.

Journey maps will help process each flow in detail, considering the user’s goals, thoughts, desires, and emotions at each stage.

Read also: What is User Flow and How To Create it Right

Step 4. Design the interface

Then you can start working on the interface. You can begin with freehand sketches and wireframes to quickly visualize and evaluate the interface.

Modularity and consistency in the interface app or web design allow general principles and approaches to solve the same problems.

provide user smoothness for UX fintech design

design the interface

Regularly creating and testing clickable prototypes will be good because users don’t work with static screens. Instead, they interact with the buttons and input fields and receive feedback, creating a holistic impression of the product. An excellent tool for this is Framer X. It allows you to create components in the code, bind logic, validation, accurate data, and get the whole experience of interacting with the product.

Learn more: Best 8 Tips on How to make Fintech App Design in 2021

Step 5. Testing

Test mode will allow you to conduct surveys and receive feedback from users. Then, based on this data, you can test the initial hypotheses and make necessary changes.

UX fintech app design testing

test the user experience of fintech app

As a result of testing, you can easily remove or add new features without compromising the consistency of the user experience.

Final thoughts

Financial companies need to find innovative approaches to attract and retain customers with a personalized user experience to be successful. In addition, users always expect more, so you should continually update and implement a personalized experience to release a successful product. Therefore, the main challenge in the UX design of financial services is moving from a product-oriented mindset to a user-oriented one.

And if you want to create an innovative product that will meet user expectations and perform good usability, Gapsy Studio will be happy to help you with this.

Our studio, like no one else, knows how to make high-quality and intuitive fintech app designs. Do you have any doubts? Just look at our projects on Dribbble. We will be happy to create cool projects together. Contact us!