Banking and finance have always been a bit distant and hard to understand. They’ve used new technology, but haven’t always been easy for customers to deal with. The special terms and complicated ways finance works often make it hard for people to have a good experience.
Fintech is continuously updating its design product design. In this article, we’re going to look at the latest design trends in Fintech that are improving the banking experience.
1. Gamification
Honestly, dealing with finances isn’t much fun. It’s often stressful and pretty complex. However, adding game-like elements to Fintech could make managing money less of a headache and promote good financial habits.
Warren Buffet had a simple way of putting it: “The stock market moves money from those who can’t wait to those who can.” This suggests that one aim of Fintech products is to help people make more thoughtful, less hasty decisions.
When users get rewards for making smart choices, they tend to get more interested and involved. This way, handling money stops being a dull and annoying task. Instead, it feels like they’re achieving something worthwhile.
2. Product Identity
Banking apps used to be pretty dull, with their plain colors and confusing jargon. But now, Fintech products have evolved. They’re not just tools anymore; they offer a complete brand experience.
Having a strong product identity makes it easier for people to understand and value managing their finances efficiently and without hassle. It’s particularly effective when users can relate to the spokesperson of the product and their character.
Finally, when it comes to Millennials and younger generations, lively branding is key. These groups, unlike older ones, often prioritize having memorable experiences over aspects like information security.
3. Centralization
Integrating with other services lets Fintech apps offer more than traditional banking products. These apps, especially on mobile, are more than just a way to move money around. Today, Fintech covers a wide variety of financial tasks for everyone, from everyday people to finance professionals.
This feature allows users to track their spending across different platforms, giving them a clearer overall view of their finances. Isn’t that what we all want from a financial product?
4. Fully mobile banking
Moving away from physical bank branches is part of what’s changing in Fintech. In our fast-paced world, most of us don’t have the time to visit a local branch for approving transactions or signing documents.
Modern financial services like Revolut and N26 make things easier while also providing top-notch security.
As a result, this leads to a better user experience that goes beyond just the product’s interface. It’s more about making it easier for customers to access their finances and reducing the red tape involved. At Linkup Studio, we’re dedicated to embracing the latest practices to streamline our design processes and deliver cutting-edge results efficiently for mobile banking projects.
5. Human language
A lot of the time, the hard-to-understand financial terms are what keep us from using Fintech products. When an app is full of complex jargon, it can be pretty intimidating, making us give up on trying to track our expenses.
Using simple language can help people make smarter financial choices without needing to know all the technical terms. But this doesn’t mean we have to eliminate all the financial jargon.
Some terms like overdraft, prolongation, or LTV Calculator don’t have simpler alternatives. A good way to help your users understand these terms is to include a glossary with clear definitions.
Conclusion
Even though trends change, it’s important to keep improving our users’ experiences with our designs. The products we’ve talked about here aren’t perfect, but they’re trying to make managing personal finances easier and more relatable. For more insights into design systems and their importance, check out this article: https://linkupst.com/blog/design-systems-what-you-need-to-know. Also, don’t miss this informative video for a deeper understanding: https://www.youtube.com/watch?v=gj7VVdBrrYk.
