The design in your website or application adds value. Do you remember the Spotify Wrapped campaigns? Why do you think the Spotify campaign works? It worked because the creative team sat together to design a campaign that connects, engages, and adds value to their users.
Digitalization highlights the demand for unique expressions to communicate your story to your customers. If you do not stand out, you will probably get lost in the crowd. Investing in a good UX design always pays off. While measuring the impact of good design is tough, we all know how huge the gap is between "mediocrity" and "great." A good UX design bridges that gap.
For a Fintech startup, UX design plays a huge role. After all, as Steve Jobs said, “A lot of times, people don’t know what they want until you show it to them.” Taking care of your finances can be tedious. So, to make a FinTech platform exciting or engaging, you need to strategize it well. Not all kinds of design work. Well, have you seen a minimalistic Fintech platform?
Also, who does not want a beautiful website or app? Everyone! The problem is the investment. Now that a good design is necessary, are you still contemplating whether to go for it? This curation on the benefits of good UX designs for your brand by MarsDevs will assuage any doubts you have.
In this blog, MarsDevs takes a deep dive into the world of UX designs in FinTech and its trends.
The first impression always counts! Of course, we know that already! But isn't the first impression always design-related? As a brand, you get one opportunity to grab your user's attention, and that's it. Whether it is your potential customer, employee, or investor, the first impression would either make or break it. Danielle Sacks says, “Design is about three dimensions and the five senses.”
According to research by Google, web users take about fifty milliseconds of scanning through the landing page to form an opinion about your company.
We have often come across websites that look complex due to clutter, lots of text, and other elements. Users discern these to be visually unappealing and less welcoming. Now, think of yourself as an end-user. Do you not prefer designs that are simple, familiar, yet creative?
UX design is an art that communicates your brand's identity. If you do not invest in a good design, you will lose essential people. And, most importantly, a business is all about people.
In the wise words of Luke Wroblewski, “Number one for product design: minimize the gap between what your product is and why it exists.”
Also, a good design sells. Last but of course not least, let us talk about numbers. We know that is what companies prioritize, and you should know good designs pay you back. Studies have revealed that design-led ventures enjoy the fruits of more significant profits than those that do not invest in great designs.
Given this, it's unsurprising that fintech has simply flipped the industry on its head by placing the consumer at the core of its business model and developing a superior user experience. And all this comes down to a few fundamental UX principles:
Now that we’re clear about why UX design is necessary, let’s switch to the top trends to watch out for!
We know why we can not keep ignoring web or application designs anymore. But, before we get going, let us take some time to look at the trends that can help you modernize your brand and increase conversions.
Honestly, Minimalism is here to stay. You might think that bright colors are replacing the trend, but it is just an addition to UX design. The trends keep multiplying, and the competition keeps increasing.
And as a brand, you want to stand out. YX designers have started experimenting with bright colors, excellent interfaces, illustrations, and quirky backgrounds as users become more selective with their choices.
Bright colors in a web or application design help to:
Focus on brightness never means a decrease in readability. You need to select a palette carefully when you choose bright colors. So, let the experts take over. MarsDevs ensures great UX design when they create your website or application. And it is time for you to stop worrying.
As Jared Sinclair once said, “Good design is about process, not product.”
Blurry backgrounds were an impressive start to 2022. They are catchy yet comforting. This design flavors the objects in the foreground. So, a blurry yet bright background acts as a beneficial FinTech marketing technique.
The benefits of blurry backgrounds are:
Did you hear about glass morphism? When you combine the blurry background trend with glass morphism, it gives a frosted glass effect. You can get an excellent blur effect now.
Building your financial services solution on a mobile basis allows users to access your services easily from their smartphones. Many fintech and neo banks no longer have physical branches at all.
As a result, fintech must provide a consistent user experience that is highly functional, intuitive, simple to use, and comprehensive—allowing users to accomplish as much as possible in one spot. Like Joel Spolsky said, “Listen to your customers, not your competitors.”
Authentic images have been a trend in web design forever. Web designers transferred this trend to UX recently. And who's complaining?
Authentic images feel more humane. And as a FinTech brand, you want to create a bond between a user and your brand identity. However, this trend is still in vogue. And you need to know if it is the right fit for your brand's persona.
Finance has never really been fun. And it can often get tedious, tiresome, and demanding. You do not really enjoy making a transaction. But, gamification can make it more exciting. Not only does it look much better, your financial procedures get less tiring too.
Gamification stimulates healthy financial behavior and is growing fast in FinTech. Some companies are even exploring the world of gamification by combining it with blockchain technology. The most straightforward answer to why gamification is getting popular is because of its ability to engage users. And with FinTech and its boring use cases, engagement is the key to success.
Effective user onboarding is critical to keeping competitive in a world where ease reigns supreme.
Ideally, you'd like to make the registration and authentication process as simple and painless for the user as possible while maintaining security and regulatory compliance. Remember, your onboarding experience should be timely. Use a brief introduction tour, such as an animated lesson, to demonstrate to new users how easy your app is and highlight essential features.
Bill Buxton said, “The experience is about how we get there, not the landing place.”
Visual hints and pop-up messages highlighting new features and how to use them (and where to find them!) are other powerful ways to assist new users in getting the most out of your fintech solution.
Apart from looking great, your FinTech platform should add value to your users. It would be best if you made complex equations simple for your users. Say your app is presenting the user's financial documents.
Allow the users to view them in a graphically meaningful manner. This feature would enable your app to give the users a better understanding of their earnings, expenses, and even their relationship with their money.
Chat or message functionality is one of the most crucial support features you can offer in your fintech software. In its most basic form, consumers can communicate with corporate representatives or agents in reality for personalized assistance. Conversational support goes beyond fixing product difficulties and delivers concierge-level care.
A rising number of fintechs are becoming more social. Honeydue, for example, helps couples manage their money together by tracking and discussing transactions, habits, and goals—all in context—via its sophisticated dashboards and built-in chat function.
While in-app chat is most commonly used to link users with customer care agents, it can also be a great community-building tool.
While all of the above fintech UX trends are significant, some are already typical, while others are developing and creating possibilities to separate your fintech service from the crowd.
Be alert from the start! With customers growing more tech-savvy, fintech must keep ahead of the competition by embracing the newest trends to provide intuitive, engaging, and memorable user experiences while meeting company goals.
Be alert from the start! Are you looking for a development team that can help you end to end? Do you want a team that can chip in anytime you want? Get the one that takes care of your UX designs too. MarsDevs seems like the perfect choice, then. Do you want to know how? What about a virtual cup of coffee, then?
Overall, the UX design trends of 2023 emphasize creating more engaging and inventive experiences via new technologies, as well as a shift away from minimalist graphics and toward unusually vibrant and bold UI.
The fintech business is constantly developing due to technological advancements and changes in customer behavior. AI and machine learning, blockchain, digital banking, cybersecurity and fraud prevention, and open banking and API connectivity will all be major themes in 2023.
With the introduction of AI, one of the most recent advancements in UX, computers are gradually demonstrating their ability to replace human labor in creating specific outputs, such as wireframes, copies, and even polished UIs.
Fintech is transforming the finance business by employing technology to improve financial services, provide faster and more easy access, increase efficiency, and promote financial inclusion.
Gamification in finance involves using game features & mechanics in financial operations & services, such as prizes, challenges & accomplishments, to increase user engagement and motivation.