Financial UX Design: An introduction
The fintech industry has grown in a fast and tremendous way during the last 10 years and the development of new interfacing technologies has led to a more important user experience- UX design. As a result, this as a compulsory need when creating new platforms and websites.
Whether accessed via mobile, app or desktop, the real stepping stone to success is for your brand to work with a simple and intuitive design. This will ensure that all your customers have an exceptional user experience.
That said, most financial businesses use graphs, dense charts and complicated language and codes. That is why a good design and user-experience are so important at the time of creating your website.
A financial UX design is a business design
It is indispensable to think about your product’s usability from the beginning. Some of the first questions you will need to ask yourself are: why does the user reach my website? What needs do they have and how are my services or products going to solve them? Can the user understand my sire correctly and use it in an easy way?
To have a successful UX/UI design, it is important to care about every step of the customer journey, and to correctly understand all about your core business and how it can solve the clients needs and problems.
Your design needs to include every bit of information about how the product will accomplish everyone’s goals. This includes your own client’s goals and your business goals. For example: Will it help my client save or gain money? Will it make my own business get more leads and clients, and a higher conversion rate? Will it eventually increase my income?
Research as part of the UX for financial services
Part of an adequate UX/UI work is to carry out adequate research and study of the product’s target audience to satisfy their needs and goals through the design.
Identify appropriate UX research procedures which you can use during a project. Some key steps can be:
1.Discover what is relevant for users
Firstly, Interview appropriate users in their own environment to analyze how they carry out the procedures that have been asked for by your website. Other interesting tools are the diary studies in which users can add all their daily interactions with the design or their performance in different activities.
2. Examine how to move forward with the user’s needs
Secondly, you can use customer journey maps to expose crucial stages that could be disadvantageous for your clients to move forward with their acquisition processes ultimately not allowing them to achieve their goals.
3.The most important: TEST!
It is crucial that you make sure that your design is easy to understand and use. Run accessibility tests to corroborate that is accessible for everyone. A/B testing is one of the easiest methods to do effective tryouts.
4. Get feedback from your users periodically
It is very important to listen to your customers to get reliable data that you can work on later on.
Qualitative data: The easy way to get constant feedback from your users and to know how they feel about your product is through surveys and questionnaires.
Quantitative data: Your Google Analytics will be your best ally to collect quantitative data about your user behavior. You need to be constantly informed about your website traffic. Moreover compare the data periodically according to all the changes and tests that you will be doing on your website. Monthly or bi-weekly reports are the most popular time periods to be reported.
Traders often use multiple screens and are always navigating among many trading platforms, trading accounts and dashboards. Therefore a successful design for financial websites lies in understanding the user’s everyday tasks, needs and concerns. Said that, your mission will be to implement a solution which serves their needs and makes their daily operations and tasks easier and more effective.
Certainly, delivering the right data, with the correct presentation and at the right time is the key ingredient to the success for any platform, app or website in the financial markets industry.
In conclusion, working on a user-friendlier design with an exemplary user experience is a must for an industry in which many of the companies have come a long way to take care of these important details. After all, the financial markets industry is the industry where users need to feel trust and transparency in all their transactions at all times. All improvements implemented from a good user experience (UX) perspective will easily translate into fast improvements in transactional results.
If you are looking for a user experience design agency to improve your financial business, we can help you!
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