December 2, 2020

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How UX Design Helps People Explore FinTech Products?

This Blog is about how user experience design of FinTech company websites and applications offer ease in the purchase of financial products and services.

Nothing is devoid of technology in this world, which keeps improving with time to give an enhanced experience to the users in every field. For sure, it is not required to elaborate much that technology is doing great in the financial industry too.

User Experience Design Inspires Better Experience

What is user experience design?

user experience design creates relatable and meaningful user experience when they visit a website or app. It makes the attainment of a product or service easy, speedy and hassle-free.

The finance companies are online now, and they offer their products there to act more competent and deliver instant services in the market. The struggle is to get more customers and sell financial products.

The need of the hour naturally diverts attention towards the user experience design. The people should get comfort when they visit the websites and applications of a particular bank or finance company.

HOW THE  PURCHASE OF FINANCIAL PRODUCTS BECOME SMOOTH?

With several features, the user experience design improves the comfort of the buyers and also increases the sale of financial products.

Detection of right choice/financial product is not complicated

HERE IS AN EXAMPLE – Imagine yourself in a BIG grocery store with thousands of products. It is an actual task to find the shelf of that one desired product. If you get online access to the same store, shopping can be much more comfortable. Type the product name, search it and buy it there and then. The only condition is that the search option of the related online platform should be user-friendly and responsive.

The finance industry is like a grocery market with numberless products and their counterparts. The people in search of loans, credit cards, insurance choices, investment alternatives etc. enjoy ease through FinTech. How? Through customer-centric website and applications.

Everything in the money market is available online, and for that, finance companies depend on how effortlessly one can find them and then the related product on their website/app. The easy detection of financial product choices on an online platform gives liberty from monopolistic practices, and people can make a liberal selection.

If you have noticed, nowadays, finding far better options than provident loans in Ireland is not difficult. It is due to the availability of other lenders that are easy to detect online. No particular loan company can influence the market. Important is, make the website functional for the customers through a user-centric design and see the difference.

Multiple features of FinTech websites and apps offer a happy visit

The diversity of features on FinTech websites help the people avail their choices without any stress and mess.  A bunch of traits makes things easier and in turn, facilitates a straightforward purchase of financial products.

The primary qualities of a FinTech website that are installed by user experience design are –

  • Calculators – The online calculators make a deal predictable. From calculating the insurance premium to detecting the monthly instalment of a loan, it gives a relatable hint of the monthly and total cost. People use it before they finally avail a product or service. This feature describes the importance of a user-friendly FinTech website.
  • Chatbots – According to a study, the FinTech was the first place/sector to launch Chatbots. These are the experts of providing automated answers to the questions. Backed-up by artificial intelligence, the Chatbots save the time of the marketers. They also reduce the need for human resource in customer support.
  • Online transfers and payments – The FinTech platforms offer an immediate transfer of money, which provides a better experience to the users. Also, one can make fast payments for varied purposes. The loan market uses this feature quite often to offer instant and convenient financial assistance. The borrowing options such as the fast loans on same day, quick funds online, money in 30 minutes etc. are the common phrases nowadays. People in search of instant money always find such qualities magnetic, which is again the talent of user experience design.
  • Information architecture – It decides how clear and serviceable will be a website or an application. The FinTech companies today pay much heed to this part to make their online platforms more useful for the visitors to make them come back.

For sure, the FinTech world has much more to embrace in the name of the variety of features on a finance website or application.

Mobile-Friendliness makes the purchase handy

Every finance company wants to keep its website mobile-friendly. The busy, chaotic life today demands immediate access to things. The user experience design makes the FinTech websites easy-to-use on mobile to help the customers explore the products and services conveniently.

For many reasons, it is useful for FinTech companies. It is beneficial for both the user as well as the finance companies.

Why mobile-friendly websites?

  • Improved user experience
  • Better search visibility
  • Instant attainment of products/service
  • Increased lead generation

Mobility is a vital need for every company in the market, and the mobile-friendly presence makes it possible. This characteristic has to be there to stay in the notice of the people across the world.  It is necessary to act handy as well as useful for the FinTech companies and make smart use of the user experience design.

The future progress of FinTech depends a lot on the growth of user experience design. If the latter develops, the money world too can be more powerful to prove its utility. A race to act appropriately for the end-user makes the finance sector work on the functionality of the design of the websites and applications. With time and increasing competition, the purchase of financial products is sure to become better. Get ready for a more satisfactory experience.