Fintech UX Design in 2023

The term “fintech design” refers to the entirety of solutions and processes aimed at the creation of user flows and interfaces in fintech digital products. In turn, fintech digital products implement information technologies to complete finance-related tasks and provide financial services. The quality of fintech app design determines if the product can be successful and sought out in the market. The fintech digital world has harsh competition, and customers do not suffer from a lack of alternatives. If their current product is unsatisfactory, they can simply switch to another. This is why hiring professional digital designers is a must if you want to launch a viable product. But before we talk about when you should do it and where to find the best fintech design specialists, let us see what is relevant in the 2023 digital design industry. This brief is a simple way to structure your knowledge on the topic, maybe have some useful insights, and have a clear idea of the direction you want to move in.

Fintech design is not competing with marketing anymore

There used to be a lot of discussion about what is more important, UI/UX design or promotion. Nowadays, these two are mostly viewed as a strong combination, not an opposition. Remember the legendary De Beers slogan “A Diamond is Forever”? It works so well because everyone knows the value of diamonds. The moral is—you cannot advertise your product enough if it is useless, boring, frustrating, or unsafe. The truth will out. This is why a fintech design agency is your best friend in every development stage, from an idea to an MVP. It will ensure that there is what to offer the customers.

Golden standards of your fintech app design

Time goes by but some things remain unshakeable, and these are general rules to keep in mind when designing your product:

• Trustworthy brands are customer-centered. Think of Apple and its popularity. Apple products solved customers’ needs even before they got aware of them! Always put the user’s experience first to earn trust and loyalty: things that are especially valuable in the fintech industry where people trust you with their money.
• Privacy and security need extra attention. Again, we are talking about your client’s finances, so put maximum effort to guarantee the safe use of your product.
• Keep it simple. We consume a lot of information on a daily basis and do not need more load when trying to do a task in the application. Intuitive interface, smooth workflow, no unnecessary functions or overuse of professional language.
• Speaking of features and functions, keep only those that are truly valuable for customers. When the user’s journey is clear and simple, your CTAs work better, and the application development and support are more cost-effective.
• Remember the clarity of your copy. We mentioned going too far with specific terminology but this is also about the user clearly understanding their goals and options. Straightforward texts and instructions mean fewer mistakes that can be costly with fintech apps.
• Uniform style. Fonts, color themes, and other visuals keep your product neat and seamless.
• Compliance with AML and KYC guidelines which is obligatory for fintech products.

Latest trends for the best fintech design

And here is what is buzzing in 2023. These are noteworthy features rather than shocking novelties. Many companies are using them already in some way or another which is just another argument for keeping up!

• Customization. Avatars, widgets, adjustable style, color theme, or even functional elements—you can allow users to set all these details, making your product a perfect fit matching their identity and preferences.
• Fun. Finances should not be boring! A bit of excitement will keep your customers engaged and motivated, helping them reach their goals in the long run. Gamification, in-app rewards, and a humane interface with emojis and unique animations are your tools for making your product enjoyable.
• Centralization. Integrate other services so that the user can complete many tasks while using just your application. Just like in a marketplace where you can buy anything. Subscription to streaming services, taxis, food delivery, tickets, and health insurance—imagine giving your customer an opportunity to have all that in one neat application.
• Visualization. Comprehensive and interactive graphics is more simple and handier to operate than endless invoices to analyze. It helps users manage their expenses with ease.
• Adaptive artificial intelligence. Look into the perspective of an AI and think if you can implement its benefits into your app and how. You can offer a personal digital assistant, improve your customer support (while reducing its costs), provide better protection from fraud, etc.
• Biometry. Biometric technologies identify a user via their behavioral or physical parameters (voice, fingerprint, face, etc.). Their use will take security in your product to a whole new level, guaranteeing the safety of your customers’ data and money.

Tips for hiring a fintech design agency

We mentioned that fintech design specialists will bring value to your product at every development stage. In fact, we advise you to hire them while the project is in the idea phase. By working with professionals from scratch, you will secure your product from flaws and mistakes that will require time and money to fix. That is, if they are caught in time and not when frustrated customers are complaining about them. And if you are looking for a fintech design agency, take a look at Arounda’s approach to fintech design. Arounda is a dedicated team of digital product adepts, well-experienced in bringing raw concepts to life as well-accepted, marketable products. Whether your future product is a crypto trading platform or a budget management assistant, they will make it valuable both for customers and investors.