In 2023, the application of fintech UI/UX design is becoming increasingly important due to the increasing digitalization of financial services. Users expect not only convenient and secure financial transactions, but also a pleasant, intuitive and engaging user experience.
What is fintech UI/UX design?
UI (User Interface) includes all elements with which the user interacts on a digital interface, including buttons, icons, fonts, and colors. UX (User Experience) focuses on the overall user experience when interacting with a product or service, including ease of use, accessibility, and satisfaction with the interaction.
Fintech UI/UX design is all about creating digital products in the financial industry such as banking apps, digital wallets, and investment platforms that meet user needs and provide a positive user experience.
Why is fintech UI/UX design so important?
Trust: Fintech services involve the handling of sensitive financial information and users need to feel confident in their security. Well thought out UI/UX design can help build that trust by showing users that the system is safe and secure.
Ease of use: Financial transactions can be complex, and users appreciate apps and platforms that make it easy. For example, the Robinhood application was favorably received by users precisely for the simplicity of the interface and the availability of investing in stocks.
Competitive Advantage: In a saturated fintech market, good UI/UX design can be a key factor that sets a product apart from the competition. In 2023, good UI/UX design is no longer just a “good feature”, it is becoming an integral component of a successful product.
User retention: Fintech applications and platforms with poor UI/UX design can lose users who switch to alternatives with a more convenient and pleasant interface.
Facilitating Complex Processes: In the FinTech industry, where many processes and operations can be complex and confusing, good UI/UX design can facilitate these processes, making them understandable and accessible to more users.
Examples of the importance of UI/UX design in fintech
- Revolut – this company has turned the banking system into a convenient and easily accessible application. Their emphasis on UI/UX allowed users to manage their finances without the hassle of visiting a bank.
- Monzo is a bank that is focused on creating the best user experience. They are constantly adapting their app based on user feedback, which allows them to improve their services and retain customers.
- BIDSBEE.com is a new social trading platform expected in 2023. They focus on creating a user interface that will make the trading process as easy as possible for users.
In conclusion, we can say that in 2023, the importance of UI / UX design in fintech continues to grow. Successful fintech companies attach great importance to the quality of their product design, focusing on ease of use, security and intuitiveness of interaction with the platform.