How to create a fintech application for commerce use: how to get the most out of UX techniques

User experience (UX) and conversion optimization

In this blog post, we will tell you how to create a fintech app with improved conversions by considering the needs of the end customer with user experience (UX). UX design is a process in which, through careful definition and possible prototyping, a useful result is created from the point of view of the service user.

The goal of a company’s online fintech apps, such as a website or online store, is mostly to increase visibility and attract customers. In general, you also want to measure the performance of online services to understand what works and what doesn’t. Conversion is a concept that refers to the realization of this target behavior.

  • By optimizing conversions, it is possible to reach the company’s profit goal more efficiently without even increasing the number of visitors or time of use separately. The conversion rate can be easily calculated by dividing the number of desired actions, such as clicking on a certain link, by the number of all page visits.
  • Conversion optimization can be done in different ways, for example, by improving email marketing or analyzing the site with a heat map. Sometimes, unfortunately, increasing conversions comes at the expense of user experience in the hope of simple clicks.

UX and the importance of usability of a fintech app

User experience refers to the emotional and informed response associated with a fintech app or its functions. The concept is based on user-centered design, where the needs and wishes of the client or end customer are taken into account. In UX design, the customer’s path through the service is defined in detail, and at the same time, for example, typical human psychological techniques and goals that the company’s online service sets itself. Among the industry leaders, Punchcut specializes in experience design, ensuring that digital interfaces are intuitive and engaging.

Usability is one of the most important characteristics of fintech apps and software, as well as the cornerstone of user experience. In practice, usability means that the desired goal is achieved with the help of the fintech app. By focusing on achieving the goal, the functionality of the service becomes transparent and predictable, allowing the customer to use the fintech app intuitively without prior information. For example, the customer should be able to easily navigate and conduct business on the site so that they can find what they came for.

  • There are different views on usability and its basic principles. The rules include, among others, minimizing the possibility of user error and memory load.
  • Probably everyone has experience with online services that have poor usability. It is frustrating if you can’t easily change the information you entered while working in the service. It is also frustrating if after submitting a form, there is no clear confirmation whether the form has been delivered.
  • Functional ambiguities and illogicality are often the cause of poor usability. When solving errors, for example, descriptions of imaginary user personas or changing the information architecture of the entire site can be useful. When the customer service path is carefully planned, usability is also improved.

The interactivity of the fintech app arouses interest

Good UX is not created only by investing in usability or as a result of a simple, beautiful appearance. Both factors are necessary for the service to be useful. In addition to this, small, e.g., animated elements add liveliness to, for example, websites, which in turn creates reciprocity between the service and the customer.

When the customer feels that the service reacts to his actions naturally, it makes the customer interested in staying on the site. A website can respond, for example, with micro-interactions, which are very small interactive factors such as sounds and movements. For example, in mobile applications, micro-interactions have a positive impact on the experience if used in appropriate amounts and in the right situations. 

  • Using interactions in fintech apps is a skill, as the service should not become too hectic. The human capacity for cognitive processing is limited, so too many stimuli in the functionalities load the memory and negatively affect the experience.
  • For example, on a page that should be fully informative, it is not always worth using interaction. Aggressive pursuit of conversion with pop-ups or excessive cultivation of calls to action does not give a good user experience, even if we are talking about the usual methods of conversion optimization.
  • Another practical example of fintech app interaction is the chatbots of websites and stores, i.e., the ones that pop up, often equipped with a face image “How can I help you?” notification. It is up to the user whether chatbots cause excitement or irritation as a reaction.

What should I pay attention to when planning a website update?

  1. Well-planned is half done and the planning should always be content-driven, that way you can stay on schedule better and get the content you want in the best way possible. It is also worth noting that the price of websites can rise very quickly if you are constantly coming up with something new. A website can always be developed. When planning an upgrade, it is also good to think about whether the company has any systems that need to be in contact with for its development, such as
  2. It is important to consider what is relevant and appropriate and what can be skipped. When you remove something, the things, and elements that remain attract more attention. You have to make choices and get qualified. So that the costs are not a surprise, it is also advisable to agree on the number of repair cycles in advance. To get the best websites for the company, it is good to remember while designing that pages should not be turned into absurd fireworks with fancy power tools and forget about the main purpose of the page, i.e., customer fintech app. It is necessary to keep in mind the user experience so that the messages and content of the pages are easy to understand, and it is easy for the user to navigate and find what interests him.

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