The UI/UX designer played a significant role in creating user-friendly interfaces that let users know how to utilize the complex technical product. The designer creates a part of the product that flows logically from one step to the other. They performed research, wireframing, and many more to create the user interface. They have a major role to play in product development that includes design, usability function, branding, and marketing. The designer collaborates with product managers and engineers of Fintech Software Development Company to enhance the user interface for the app or website. If you are here in this post to know about the role of the user interface in fintech and banking products, then read it till the end. Reading this blog, you will learn why interfaces are so important in fintech and banking products.
What is the role of the user interface in a fintech company?
The UI/UX designer is crucial in enhancing accessibility and using design with banking services and Fintech Software Development Company. The designer also helps build and maintain trust, and the design has always attracted and retained users in fintech firms and banks. Hence the designer plays a major role in giving the product and service a competitive edge. These aspects have opened vast opportunities in fintech firms with high salaries and amazing opportunities to pave the way for people to know and manage their money.
The fintech industry in the recent past has shown massive business growth and influenced many customers with its positive approach. When it comes to the design in this industry, it is too different from the UX designing in other industries. The main objective of a designer in a fintech company is to make a positive user experience that would engage the customer with its product and service.
Check out the various ways by which UI UX design is deployed in a fintech company.
1. Reduce user fiction as much as possible
The main goal of the UI/UX designer is to reduce user friction. However, according to experts, a bit of friction is a good thing because it is very important to safeguard against accidental financial transactions. Hence the main appeal of the fintech firm is to offer the customer ease of using the interface. It cannot put the customer in a situation where they make a mistake with their money. This is where the designer would play a major role in analyzing the user behavior and coming up with the balance between user-friendliness and providing friction to safeguard the customer from unwanted accidents.
2. Enhancing Trust
Customers who are not digital natives will not have to trust an app that would control their finances. Even people who are from a digital background and have no finance application also need to build trust so that they can grant access to their personal information. This is where the UI/UX designer understands the psychological aspect, and It makes user-centric designs of the product. The fintech product can be for banking, investing and budgeting, or any other purpose, and the designer should design the product in such a way so that the user is sufficiently assured that their data is secure. Transactions can be done in a hassle-free way.
3. Onboarding Process
Even if the product’s easy to use but the onboarding process is unsatisfactory, it will be a major turn back to the user. Hence the designer is always here to make the boarding process very simple, which requires the collection of financial data, identity verification, and money laundering checks. All these things are done thoroughly so the user does not have to wait for days before using the account. The collection of financial data and verification process is time-consuming, and hence designer plays a crucial role in making the onboarding process experience.
4. Providing Better Experience
The fintech companies always aim to provide a simplifying and interactive experience to the customer. The Ui UX Designer always tries to improve the user experience by making the interface intuitive and incorporating sound effects, graphics, and conversational language with the potential customer.
What is the job role of a UI/UX designer? What is the responsibility in a fintech company?
Yes, it has been discussed that the fintech firms have brought a new way to deal with financial products simply and securely. The increase in fintech has brought a lot of job opportunities for UI/UX designers. Designers have a lot of skills in conducting and making sense of user research. They perform wireframing and prototyping, interactive design, visual communication, and information architecture to design the product and service. They have enough skills to bring to the table and vast knowledge of tools such as invasion studio, web-flow, axure, etc.
Apart from this, if the Ui UX Design Seris looking for a job in fintech companies, they should also have first-hand knowledge of the regulatory landscape so that they create designs that are compliant and do not cause any potential problems for the user as well as the company. Even though the fintech company has dedicated legal departments that are always up to date with the regulations, it’s also important for the designer to do their research.
It is also important for the designer to know about the user psychology as this would help them to know what information should be displayed properly. Proper visualization is also important as it should allow a better understanding of earnings, expenses of the user, and the relationship between them in the product.
What are the key responsibilities of the UI UI designer in the fintech organization?
- The designer needs to research to understand what is the problem faced by the users when they use the financial services platform.
- Making design experience a/ b testing, listening to the feedback of user
- A consistent user experience across the mobile devices as well as a desktop platform
- Communicating with data scientists, information architects, and engineers for testing, iterating, and launching the product and services to satisfy the customer and stakeholder
Conclusion
Hence the post has discussed the role of UI/UX designer in the fintech and banking products. They also got to know how the user interface can play a key role in fintech and banking products. There is no doubt that with the increase in Mobile App Design and Internet banking, India has become a financial supermarket. Engineering technology has reduced human intervention to a great extent, and user experience and content management are some of the major parameters of the user interface in the banking and finance industry.
