THE AUTHOR:
Experience design is a major investment area for almost all financial institutions as it gives them a competitive edge in the digital age. Regretfully, in some cases, the outcomes are awful.
It is insufficient to copy the design of another trendy banking application to guarantee a top-notch user experience.
Every successful digital transformation has several distinct elements that affect the customer experience in the fintech industry, and designing user interfaces is just one of them.
The success of a digital product depends on your brand’s distinctiveness, consumer expectations, and modern technologies. Undertake user research and implement customised UX design for fintech to transform your digital service into a sustainable competitive advantage.
In 2025, companies should investigate these fintech UX design trends we have highlighted. With the number of digital touchpoints continuing to rise, CIOs should consider these trends in design when planning their strategic initiatives for the upcoming year.
Fintech UX Design Trends in 2024
It takes more than concentrating on product features and technology to achieve a successful digital transformation and meet clients’ ever-increasing demands.
In the modern digital age, exceptional and one-of-a-kind experiences provided by services guarantee success.
Therefore, you require an experience transformation to keep up with banking design trends:
1. Super Apps
A Fintech Super App is a single app that takes care of all your financial needs. For end users, a super-app offers access to separately created miniapps together with a set of essential functions.
As defined by app developers, a super app is an application that combines the features of platforms and ecosystems, enabling third parties to create and distribute mini apps.
Super applications provide basic functions like paying bills, transferring funds, and creating accounts. In addition to banking software development, these all-arounders provide social networking, e-commerce, insurance, and personal activities.
Super applications with many interconnected services have the potential to boost user engagement and retention, as users are more likely to use the app for a variety of purposes.
2. Biometrics
Due to the sharp rise in transaction fraud and security breaches involving passwords and other conventional security measures, a reliable authentication mechanism is now required.
Although there are many different kinds of biometric authentication in use today, the most popular ones are fingerprints, facial recognition, voice recognition, iris recognition, and palm or finger vein patterns.
While complying with KYC and Anti-Money Laundering (AML) regulations, biometrics streamline the access and management of customer bank accounts.
Every time a consumer decides to bank, secure identity authentication and verification can be accomplished with just a quick glance (using facial recognition) or a touch (using fingerprints).
Thanks to bank biometric verification, clients no longer have to worry about forgetting complicated passwords or misplacing their physical security keys.
3. Visualisation
Data visualisation is the graphic depiction of data through various methods, such as infographics, heat maps, charts, graphs, and animation.
Finance experts may use data visualisation to quickly and effectively share the organisation’s financial performance with others.
They can also train the rest of the team to watch out for specific events, like when profit margin thresholds or other indicators start to decline.
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4. Gamification
Fintech industry gamification is the deliberate integration of elements found in games into financial services and apps. Incentives, challenges, feedback, competition, and game design psychology are some of the ways it encourages users to engage with and comprehend their finances better.
Gamification is a novel strategy for increasing user engagement and retention in financial apps. Users may need to accomplish tasks, track their progress, and set goals to receive rewards like bonuses, monetary incentives, and gifts.
Gamification has the potential to significantly increase financial literacy by enhancing the dynamic and engaging nature of personal finance education.
2024 will see a significant shift in gamification, with the use of improved generative AI to personalise user experiences.
This method dynamically alters content to accommodate different learning and interaction styles, making for a more successful and individualised engagement.
5. Personalisation
When financial organisations talk about usability, they frequently presume that customers need every feature that comes to mind. Certain firms have become obsessed with a feature-rich platform. They contend that the success rate increases with the number of features offered. That is not true at all.
Clients want a solution to a certain problem. They do not like to squander time looking at numerous feature levels. Instead of making them think, give your customer a ready-made solution.
Begin by evaluating your product’s features and services from the perspective of added value or streamline the design of current solutions.
Make an impact by relating to consumers emotionally rather than just through annoying advertisements and product descriptions.
You may accomplish that by focusing on creating a better, more customised experience and enhancing your product’s appeal and engagement through the use of design language and UX/UI design services.
Emotion is the most reliable tool for gaining customers’ trust and bringing your goods closer to them.
6. Security
Fintech security practices are a collection of information security guidelines applied globally in fintech UX design to create secure data management frameworks.
It includes fintech software development activities, procedures, and regulations to assist fintech companies in safeguarding various kinds of data against cyberattacks.
Its major goals are maintaining regulatory compliance, consumer trust, and the integrity of financial systems.
Cybersecurity is essential for fintech industry initiatives such as Kubernetes, which handles financial data. Although it automates containerised application management, Kubernetes poses security issues.
Before new legislation goes into effect, financial services organisations should develop their security capabilities — including reporting, governance, and data privacy — in accordance with them.
If they are not built and deployed safely, trust architecture and next-generation software development services can likewise put businesses in danger.
7. Socialisation
In 2024, many financial services firms have made social media their primary communication medium to improve client satisfaction, build brand loyalty, and foster brand trust. Why? Building and maintaining deep customer connections will eventually help their brand in many ways.
Fintech social media marketing connects with new clients increases brand awareness and advertises services by utilising a variety of platforms like Facebook, Instagram, LinkedIn, and Twitter.
Social media allows banks to engage with their consumers on a deeper level than just communicating. Banks can provide pertinent and timely content, ranging from market insights to customised product updates, by strategically utilising various venues.
8. Smart assistants
Fintech chatbots enable clients to automate tasks such as setting up reminders and paying monthly bills, investments, and subscriptions.
With the use of this function, financial institutions can draw in more clients and improve customer satisfaction (CX) and transactional convenience.
Artificial intelligence (AI) virtual assistants are more sophisticated programs that use machine learning and natural language processing to accomplish a variety of activities. Chatbots utilise preprogrammed responses to respond to user queries. Basic algorithms power them.
In this trend in design cutting-edge AI technology combines voice recognition, speech-to-text, large speech models (LSMs), and NLU features. Expressive voices with the capacity to comprehend facial expressions and gauge the mood of a discussion are all meant to reply to client demands in a real, human-like voice.
Businesses that successfully integrate these trends into their business software solutions can obtain a competitive edge and solidify their market position.
As a seasoned supplier of software development services, we are prepared to assist financial institutions in realising these challenging objectives and producing cutting-edge goods that satisfy the strictest quality requirements.
For the financial industry, we provide all-inclusive solutions involving software development, product design, strategic consultation, and the application of cutting-edge technologies. We can assist you in modernising your company to thrive in the digital era.
Contact info@computools.com for further discussion about your fintech project.
Computools was selected through an RFP process. They were shortlisted and selected from between 5 other suppliers. Computools has worked thoroughly and timely to solve all security issues and launch as agreed. Their expertise is impressive.