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How to design the great Fintech app?

Design Fintech App

The revolution of mobile applications has influenced every industry including retail, health-care, and many more. The financial services sector is no exception, it is more curious in exploring the technologies for benefiting their employees as well as customers.

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.


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.


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 companycarefully 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.

This post first appeared on How To Make An App For Hotel Industry?, please read the originial post: here

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How to design the great Fintech app?


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