The last thing you want as a mobile app designer or fintech design agency is to create a financial app that users can’t rely on to transact with ease.
When you’re creating a financial app, user experience comes first, which encompasses the design and usability of the app as well as its functions and features. If you want your app to be successful, it’s important to take into account how people are going to be using it and what they’ll need from it. So, let’s take a closer look at the best practices that can help you create financial app design users can rely on.
What are the Best Practices for Financial App Design?
Given that the mobile app market was estimated to generate up to $437.80 billion in 2022 and that six out of 10 mobile app users prefer financial apps over websites, user experience is key in financial app designs.
Understand User Pain Points
One of the best practices in financial app design is understanding customer pain points. By understanding what your users are struggling with, you can design features that will make their lives easier. This can be done through user research, surveys, and interviews.
Design Forms for Quick Fill
When designing forms for a financial app, always keep the user in mind. What information do they need to input, and how can you make it as quick and easy as possible for them?
One way to speed up the process is to design forms that can be easily filled out. This means keeping field sizes large enough so that users can easily see what they need to input, and providing clear labels for each field.
Strengthen Security Measures
When it comes to financial apps, security should be a top priority. You must ensure that all login screens feature complex passwords and that accounts can only be accessed on the same device they were created on.
Also, preventing personal data from being shared with unauthorized parties is key and this can be accomplished by using encryption technology such as 256-bit AES encryption with SSL/TLS. That said, you don’t want to allow new ideas to get in the way of good old security practices.
Use Visualizations for Easier Understanding
Most people are visual learners, so it only makes sense to use visuals when designing a financial app. Figures and texts alone can make the app look complex, and people don’t want to struggle to understand an app they have to rely on every day.
By using visuals, you can make the information more digestible and easier to understand. In addition, visuals can also help users track their progress and see where they need to improve.
Try to Stand Out in an Already Crowded Market
In a world where people are constantly inundated with choices, it can be hard to make your product stand out. But if you want your financial app to be successful, it's important to find ways to set yourself apart from the competition.
You can start by creating a unique icon. People will have trouble finding your app on their phones if they have too many similar-looking apps on their home screen. Also, keep up with trends – as technology evolves, so do user expectations.
Keep it Simple – but not too Simple
When it comes to financial apps, it's important to strike a balance between simplicity and functionality. Too simple, and the app won't be useful. Too complex, and users will get overwhelmed and frustrated.
As a fintech design agency, to keep your app design simple but effective, focus on one goal at a time: Simplicity is about achieving one goal at a time. Make sure your app can only do one thing well before adding more features. Also, the design and interface should be simple enough for an internet newbie to understand and use.
Test, test, test
As you design your financial app, it's important to keep in mind that users will be trusting you with their sensitive information. That's why testing is so important - you need to make sure that your app is secure and easy to use.
Test as many different devices as possible: you never know what type of device each user will have on hand, so test on all types of screens. Test on different networks: networks may vary from one area to another, so test how the app works in both Wi-Fi and cellular connections. Test the security of your server: make sure that the connection between a user's device and the server is secure before releasing an app.
As a fintech design agency or mobile app designer, there are a few key things to keep in mind when designing a financial app: clarity, simplicity, and security. Clarity means using straightforward content and visualizations. Simplicity means keeping the interface clean and easy to use. And security is important both in terms of protecting user data and preventing fraud. By following these best practices, you can create a financial app that users will love.