Future trends in Fintech UX

The US is home to some of the largest IT companies in the world, with revenue in the sector reaching as high as $11.8 trillion in September 2023 alone. How can tech businesses tap into the immense potential of the sector via intuitive Fintech UX research?

A trustworthy and easy user experience, which comes with good UX, is a priority for customer retention. A user-friendly design is more than just about aesthetics, but an onboarding process as seamless as possible.

In this article, we will delve into these fintech design trends, solutions, and advanced technologies that are propelling business initiatives.

Key elements of user-friendly fintech design

UX and UI are often used interchangeably in interface design. UX is short for ‘user experience’ while UI refers to ‘user interface.’ Knowing the difference between both is key to augmenting your aesthetic front – the first step in keeping customers stay on your page.

The benefits of having a powerful and thoughtful UX cannot be understated. A Fintech UX research by Forrester in 2023 proves that every $1 invested in UX generates a nine-fold return.

We’ve put together the most effective methods to get you started in no time:

1. Intuitive Navigation Rules

When it comes to solving Fintech UX problems, analyzing user behavior consistently is key. It can reveal how a seamless navigation experience generates satisfaction and task success. Top brands achieve these results by:

Keeping it simple: Stick to standard navigation patterns like top menus or hamburger menus for mobile apps.
Putting users first: Use descriptive and straightforward language to encourage clicks.
Adhering to design principles: Organize content logically and use sub-menus for deeper navigation.

Source: Unsplash

2. Cross-platform Content and Visual Consistency

Extensive fintech UX research shows that a consistent and visually appealing design across different platforms is key for a smooth user experience. Users want a seamless transition, whether they’re on a computer or a mobile device, and here’s how to implement that:

Uniform style: Keep the color scheme, typography, and layout consistent across platforms.
Icon and button consistency: Maintain a consistent style for icons and buttons.
Responsive design: Adapt your interfaces to various screen sizes.

3. Personalization First

Personal data informs and drives decision-making. Collect your users’ data to tailor their experience with personalized recommendations, notifications, and interfaces.

As users keep coming back to advertisements that speak volumes to their experience (as high as 91% of all customers do, according to Forbes), making things personal isn’t part of fintech UX trends, but a powerful way to keep users happy and loyal.

Identify user references: Use analytics, surveys, and testing to understand user behavior and preferences.
Use website analytics: Gain insights into user interactions, browsing habits, and page engagement.
Enhance website navigation: Produce and display personalized search results based on keywords, queries, and search history.

4. Better Accessibility, Larger User Base

Accessibility leads to inclusivity.

Fintech app developers should always put financial services available to everyone first. As a result, robust fintech UX design trends cannot miss:

Alt text-for-images: Provide descriptive alt text for images to accommodate more users.
Keyboard navigation: Ensure all functions are accessible via keyboard shortcuts.
Readable fonts and colors: Use readable fonts and high-contrast colors for better visibility.
Closed captioning (CC): Include closed captioning for videos.
Simple yet logical layout: Design a simple and clear navigation screen structure.

Optimizing Navigation in Fintech Applications

Intuitive navigation lands on top of a powerful fintech platform. It hugely enhances the user experience by simplifying tasks, reducing chances of mistakes, making it easier to engage with continents, and improves brand love.

Moreover, the top concern for fintech businesses is to onboard more users from diverse backgrounds. An intuitive UX design makes your platform accessible and more attractive to customers.

Human-centric design wins. Take a look at these top examples of enhancing user experience in Fintech to see what we mean by it.

Fintech UX Case Study 1: Magma Capital Funds’ Next-Gen Investment Platform

Magma consulted UXDA to enhance their investment experience for high-net-worth individuals (HNWIs), including elite athletes like NBA and NFL players.

Source: UXDA

Challenge: Match investment experience to digitally-native elite expectations.
UX UI improvements: Streamlined onboarding, clear portfolio insights, superior returns, and an investment simulator.

Fintech UX Case Study 2: Acorns – Micro-investing FinTech App

Acorns makes investing easy by rounding up your daily purchases to the nearest dollar and investing the leftover change.

Source: Dribble

Approach:

Challenge: Rounds up everyday purchases to invest spare change.
UX UI improvements: User-centric approach, a unique “Potential” projection tool, and an intuitive interface make investing immediately accessible to everyone.

A clearly defined problem can always be fixed with intuitive UX approaches.

Leveraging Cutting-Edge Technologies for Fintech UX

Machine Learning (ML) and Artificial Intelligence (AI)

ML and AI software development is one way to improve user experience, from AI-powered chatbots for quick customer service to ML algorithms personalizing content based on user behavior.

Use AI-powered chatbots to provide users with quick answers during their time on app, and ML algorithms to predict and personalize content based on user behavior.

Data Analytics

While traditional user research methods remain important, make more use of data analytics tools like Google Analytics, Hotjar, and Mixpanel. These can be your greatest assistants to locate where your users’ interests are.

Heatmaps, for example, offer a visual depiction of user activity in certain sections, the knowledge that’ll be helpful for designers to introduce more engagement activities within that part.

Conclusion

Hiring experts to solve Fintech UX problems can be costly, but it doesn’t have to be.

Sunbytes is dedicated to helping businesses of all sizes and industries find the top talents for your needs. Whether you’re looking for UX professionals to streamline customer onboarding, management, or increase retention rates, we have something for you.Sunbytes offers you the right dedicated team of developers at the best ROI without compromising on quality. Take a look at our developer talent pools or drop us a line so that we can schedule a free consultancy with you.