Good UX/UI design practices in fintech applications
The rise of Fintech has catalyzed the creation of new financial products in ui ux design services . A KPMG study reveals that since the start of the pandemic, the use of digital banking in Spain has increased by 30%, reaching 70% of the population, a figure that exceeds the European average of 60% and stands alone behind the Nordic countries with 92%.
It is expected that in the next five years, the Spanish banking sector will increase its digital reach to 85%, adding six million new customers to digital banking, according to the report " Digitalization as the axis of banking transformation ."
However, data protection legislation and European regulations on payment services and accessibility are presenting challenges to these financial innovations. In particular, Directive (EU) 2016/2102, which seeks to make public sector websites and mobile applications accessible to people with disabilities, is having a profound impact on the UX/UI design of online banking. This directive is motivating changes even in the private sector to achieve comparable levels of accessibility. Despite these advances, not all organizations are willing or prepared to invest in creating designs that are secure and accessible to everyone.
Some key aspects to always keep in mind when designing for Fintech
The following aspects must always be present to achieve the greatest possible success with each new project.
Set clear goals and simplify: Customers look for easy solutions to their problems, sometimes without knowing they have one. Using methodologies such as Design Thinking , banks can anticipate different scenarios and offer practical solutions, creating direct routes for the customer.
Clarity of the financial product: If the product needs to be explained, the approach is wrong. Relevant information must be accessible on a website in no more than 15 seconds, or the customer will look for alternatives.
Optimize the user experience: reduce friction , such as long forms, make it easier to contract services and attract new customers. The efficiency and usability of the contracted service are crucial, expecting transactions to be carried out in less than a minute through an intuitive interface.
Differentiation and added value: in a market where financial products are similar, personalization in the interaction with the bank can be a key differentiator. Innovation in the use of digital channels, allowing the resolution of incidents with a simple message, also adds value.
Development and legal compliance : It is essential that product development combines innovation with compliance with data protection regulations. It is also vital to balance profitability with quality of service.
Good UX/UI design practices for the development of fintech applications
Ensuring that websites and mobile applications of public and private sector organizations are accessible to people with disabilities drives changes in the sector to meet similar accessibility standards.
Focusing specifically on interface design for fintech applications, some best practices that can help create an intuitive, engaging and efficient user experience are:
Clear visual hierarchy – Use font sizes, colors, and spacing to establish a visual hierarchy that guides users through the most important features of the app.
Color scheme and contrast : Choose a color palette that reflects confidence and professionalism, such as blues and greens, and make sure there is enough contrast for easy reading.
Intuitive Iconography – Employs clear, recognizable icons to represent stocks and financial categories, reducing reliance on text and facilitating international understanding.
Responsive Design – Ensures that the interface looks and works well on all devices and screen sizes, especially considering mobile devices that are widely used for financial operations.
Featured interactive elements : Design buttons and interactive elements so that they are easily identifiable and accessible, using colors, shadows or animations that invite action.
Minimization of cognitive load : reduce the amount of information and options presented to the user in a single moment, opting for a minimalist design that prioritizes functionality.
Forms and simplified data entry – Optimizes forms to be easy to fill out, with real-time validation and auto-suggestions to reduce errors and improve efficiency.
Effective visual feedback – Implement immediate visual feedback for user actions, such as color changes or subtle animations, to confirm that the action has been recognized.
Charts and Data Visualizations – Uses charts and visualizations to represent complex financial information in an understandable way, helping users make informed decisions.
Dark mode and visual preferences: Offers visual customization options, including a dark mode , to improve visual comfort and adapt to user preferences.
Accessibility – Incorporate accessibility practices from the start, such as adjustable text sizes, labels suitable for screen readers, and keyboard navigation.
Focusing on UX design , it is crucial to focus on creating user experiences that are not only intuitive and accessible, but also foster trust and security in digital financial services. Some specific UX best practices for fintech applications:
Deep User Understanding – Conduct in-depth user research to understand their needs, behaviors, and financial challenges. Create user personas and usage scenarios that reflect the diversity of your target audience.
Simplified Onboarding – Design an onboarding process that is educational, but not overwhelming. Guide users through the app's key features, focusing on how they can benefit from them. Use microinteractions and step-by-step tutorials to explain complex functionality.
Task-centered design : Prioritize the most common or critical tasks and actions, making sure they are easily accessible. Minimizes the steps required to complete financial transactions and provides shortcuts to the most used functions.
Continuous Feedback and Assistance – Provides clear, real-time feedback on user actions, especially during critical processes such as money transfers or investments. Provide accessible assistance, such as live chat or AI support, to resolve questions or issues quickly.
Smart Personalization and Recommendations – Uses user data to personalize the experience and offer financial recommendations based on your habits and goals. Consider features like expense tracking, personalized savings goals, and smart financial alerts.
Data visualization and dashboards – Deploy intuitive dashboards and data visualizations that help users understand their financial health at a glance. Use clear graphics, colors, and labels to present complex information in an understandable way.
Security and Privacy – Clearly communicate the security measures implemented to protect users' information and financial assets. Provides easy-to-use controls for privacy and security settings, allowing users to feel in control of their information.
Feedback-based iteration : Develop a continuous testing process with real users to collect feedback and iteratively improve the experience. Adjust and refine the UX based on usage analysis, satisfaction surveys and usability studies.
Future-proofing : Keep the app up to date with the latest trends in financial technology and user behavior to ensure its long-term relevance. Foster a culture of innovation that allows experimentation with new ideas and UI UX design services technologies to constantly improve the user experience.
As fintechs continue to innovate and expand their reach, design that puts users first, complying with regulations and adapting to changing needs is key to long-term success.