With the rise of smartphones, mobile applications, and digital financial solutions, customers have quickly adopted digital money management tools and techniques to save time, energy, and cost.
That’s what experts call Financial Technology or fintech, which has revolutionized how, why, and when we interact with money. Businesses have also discovered that cutting-edge mobile applications are the secret sauce to attracting and retaining fintech customers. However, it’s difficult to please them due to extreme competition and regulatory requirements. Here’s what you can do.
Focus on Your Mobile App’s UI and UX
More than 88% of mobile application users don’t return to an app due to poor UI/UX design. Therefore, investing in your application’s aesthetic appeal is highly important. You must ensure that your application is easy to navigate, responsive, speedy, and laced with the right features. Avoid crowding it with too many features and options, and keep your target user in mind when designing the layout.
Experts say modern fintech customers are all about clean and simple UI/UX. They don’t want visual clutter when performing and getting done with their daily money management tasks.
Offer Insights
The fintech industry is still in its growing phase, and therefore, its target customer base has a lot to learn about. You can leverage this gap as an opportunity to create a distinctive market space via your fintech mobile application. Offer personalized money management plans, recommendations, money management tips and tricks, and insights based on user transaction history.
Keep them up-to-date about the latest market development and upcoming app features. You can also tailor a referral program for loyal users to maximize retention rate.
Don’t Compromise on Data Security
The fintech industry’s biggest challenge right now is data security. A survey reveals that more than 71% of fintech app users are highly concerned about their data’s security and confidentiality. Make sure you talk to your fintech app developer about incorporating features like multi-factor authentication, device registration, encryption, and security audits for user security.
You must also prioritize regular upgrades and compliance with the GDPR and PCI DSS regulations to ensure user satisfaction and data protection.
Softwareistic is known for its versatile and all-encompassing range of mobile application design and development services. Their team can create stunning, efficient, and high-performance iOS and Android applications for healthcare applications, fintech operations, the banking industry, the fitness sector, and more. Talk to them today or learn more about their process here.
