Competitor analysis—apps in the fintech sector targeting the Indian audience lack polish and do not provide the inviting experience expected by the younger user base. Their money, safe in escrow, would be refunded if the form wasn’t submitted. One overarching goal was to provide any user—regardless of experience—all of the information necessary to make wise investment decisions. Users can see more account details by tapping on it. The potential of VR/AR's power to create an exceptional user experience is still undiscovered, which is why’ UXDA took on the challenge to demonstrate how this kind of future banking would work. Analyzing spendings and setting up budgeting through an AR headset while enjoying hot cocoa on the winter holidays in the countryside. This is where the new-age fintech products have an opportunity to score. A helping hand for entreprenuers. It's always a hassle to split expenses with friends, especially during online payments. Mastering Fintech UX – A Design Case Study Financial tools aren’t the most exciting products to use—they can feel cold, boring, and corporate. This requires deep adaptation of UX/UI design principles and methods for the depth of volumed space. Thence is a product performance UX Design company, dealing with a wide range of industry verticals such as Enterprise Saas, Consumer Internet, Fintech, Edutech etc. Case study: Product Strategy, UX, Design Systems . While regulatory requirements state all investors must complete the KYC, users needed time to build trust with the app first. In 2018, Froggipedia—an AR app designed by Tejas—won Apple’s “iPad App of the Year” award. Designing a mobile app for a fintech startup — A case study. Users set an investment goal—an amount they want to accrue over a selected period of time. This article is a User Experience (UX) Case Study of the Venmo app. Get in touch with us! During the competitive analysis of other apps in the fintech space, it was clear most of them had bland color palettes and uninviting experiences. Please note that this case study was written in 2016 and lots of things have ... Redesigning the UB Smart Bus app — UX case study. From being a relatively early adopter of AI chatbots within its mobile banking app it is now adapting to the era of open banking with an API platform. Yet because of the wealth of alternatives, the initiative to make the app fun and engaging had to be taken into consideration throughout the entire process. The form is five pages and requires a lot of information. With this case study, we encourage you to view your own financial products through the lens of the future. Subsequently, the visual design turned out wildly different compared to other fintech tools. It was obvious that the KYC was too cumbersome, and the process of completing the form needed an overhaul. His main goal is to impact the lives of people by creating impactful digital experiences. Financial tools aren’t the most exciting products to use—they can feel cold, boring, and corporate. Originally, the KYC was a prerequisite for users to make an investment, but in our usability testing, we found a significant dropout rate during the process. This will provide a scrollable accounts list convenient for multiple account owners. Fusioning Fintech and VUI — a UX case study. Checking recent transactions through an AR headset while having a picnic in the park. Case Study: How Moving to HubSpot CMS Revolutionised UX, Sales & Marketing for Tradeguider Published by Maria Milea on June 30, 2020 under HubSpot As a digital growth agency for the Financial Services industry, we get a lot of requests for website rebuilds, redesigns and CMS migrations. Investing is challenging enough, so we focused on clear labeling to indicate when and where users were required to provide input or move forward. La Sirenita Case Study. Ether — UX/UI Fintech Case Study. So, UX case studies play a very important role in UX designer's life. Most still lack the clean interface design and refined user experiences that have become commonplace in other types of apps, but the change has already begun, and more apps and services are creating better defined, smarter experiences that address user needs. Mastering Fintech UX – A Design Case Study. To establish that trust, we turned the process inside-out: Allow users to try the app, make their investment decisions, and when ready to invest, complete the KYC form. Such a virtual bank could prepare personal offers based on a customer's preferences, financial track record and similar customer analytics. UXDA's team of expert financial UX architects and designers introduces you to the first mixed-reality banking concept that includes VR and AR banking design, tablet, wearable, desktop and mobile banking UI / UX. To reduce operating costs, improve data capture and speed time to market, Hyperion needed to digitise existing products and processes, and accelerate new product delivery. You just ask your voice assistant or choose from the app list to open a banking app and get automatically authorized to log in. FINTECH SAAS PLATFORM. and levels of expertise. ... We are Product Design Studio - we translate your business goals and objectives into insightful UX, remarkable UI and distinctive visual concepts. Much of this data worked perfectly for the KYC, so users could save significant time by either scanning their tax permanent account number (PAN) card or by entering the PAN manually (all Indian citizens have a PAN). Thence: Fintech UX Case Study (Golden Pie) Thence helped to craft the User Experience(UX) for India’s first online investment platform for bonds and debentures. Both virtual and augmented reality should relate to the experience in the real world. Creating a quality fintech user experience for apps like Venmo is extremely challenging. When people move roles or leave the business, hard-won experience and knowledge is lost. Nice, I have been personally using wealthapp (https://wealthapp.com/ ), it's simple to use but not very happy with the site design though :-). How We Designed the World's Most Awarded Banking App Concept, 2. Holographic devices place digital objects into the real world as if they are really there. This design approach helped to learn and solve major pain points and user needs. In the Indian market, this design shift was risky; Fisdom was one of the first stylized personal finance tools, and other companies have only recently begun focusing on UX. By using our website, you agree to our Cookie Policy. Every day, millions of people, both offline and online, do not make their desired purchases. This creates a sense of trust in users. ... Then I created a concept for a Fintech app during my Professional UX/UI Design Specialization under the Final Project in Motion for Interaction. Case Studies. With the app’s contextual tooltips, content was written to be fun yet direct. Properly structured VR design should reduce the painful effect of a mismatch caused by the difference between the eyes’ tracked movement in virtual reality and the feeling we perceive from physical reality through our other senses. Let us introduce you to the world's first mixed reality banking design concept by UXDA: Video of world's first mixed reality banking design concept by UXDA in action. achieving a greater engagement than the existing version (at least in This made the choice easier to understand. One of the largest challenges of VR/AR banking design is user interface transition from two-dimensional (2D) to three-dimensional (3D) interactions. For example, Westpac Banking Corporation and Current provide financial data visualization and budgeting through smartphone-based augmented reality. The user can switch accounts from a card view to a list view just by tapping the switcher in the upper left corner. Fintech startup Payment Courier set out to eradicate this pain by developing a payment plugin that can be integrated into … In this mixed VR/AR banking design concept UX case study, we will not delve into a voluminous description of our financial UX design process. A simple misunderstanding of even basic features could theoretically lose users a lot of money! In the case of VR/AR banking design, we especially need to remember that the main criterion for quality is simplicity. For example, if we are in a virtual or augmented reality session, do we need to exit out to check a few transactions or send money to relatives using mobile phones? The summary shows how much a user has spent and how much is left to reach his/her budget limit. Thanks to its potential to engage, it attracts a lot of interest from gamers who want to enjoy lifelike, immersive experiences. We assume that login screens will not be needed in the VR/AR future. In the future, a bank that strives to ensure easy and smooth flow for its users should be easily accessible inside a VR/AR experience. Customers can easily detect the situation with expenses by exact categories and compare it to budget limits. The ability to write a well-structured UX case study is also one of the basic skills that a competent UX professional should have. Thank you!Check out your inbox to confirm your invite. UXDA team of UX experts and UI designers created this UX design concept of a mobile-only challenger bank to demonstrate how it might look and work. Fintech Case Study: UI/UX Design Concept of Mobile Banking App for Neobank - YouTube. The main question is: how will everyday services work in the new environment, especially banking? Usability is an essential requirement in the fintech space so once the framework for the backend was in place, they engaged with us to start work on the user experience of the mobile app. By identifying their users and tailoring the experience towards a niche, the legal restrictions and requirements are a challenge to design for rather than a problem to circumvent. Fintech startup case study. How to Create Banking Super App Based on 10 Latest Tech Trends, 3. Choosing a strong color scheme helped lay the foundation for the use of images for visualizing various investment strategies (illustrations courtesy of Freepik). Delightful banking 3D dashboard overview through smart glasses while enjoying the sunset on the beach. Let us introduce you to the first mixed-reality banking concept that includes virtual reality banking, augmented reality banking, tablet, desktop, wearable and mobile banking. although in our case we work more from the concept of emotional design, A battle for small business Most people won’t notice which brand of payment terminal they’re tapping their card onto when they buy a latte, because from their perspective, they’re all the same. Users see all the upcoming bills but can switch to their list of favorite recipients list that works as a carousel menu so they can see the latest paid bills, requests and automatic payments. They can also swipe favorite contacts to the left to quickly find a recent one and send money instantly, or swipe the right balance bar to compare this month’s expenses with the previous month. UXDA's approach is described in great detail in our previous financial UX design case studies: 1. Virtual reality (VR) and augmented reality (AR) are nothing new for passionate gamers, but, in other industries, especially banking, it could cause a revolution. Research ways to improve the investment registration process (more on this later). While regulatory obligations often require that financial apps behave in a certain way, there are opportunities to make the experience fun and hassle-free for users while still keeping it professional and easy to use. ... We did the full UX and UI design of a Mobila Application that is a centralised place for generation and storage of OTP (One-time passwords) ... VIEW CASE STUDY. This is especially challenging for an investing app, not only because the content needs to be open and easy to understand, but also engaging to promote usage. We did so by creating a palette that sported bright hues to support the light and playful concept of the application. The updated process has built-in suggestions based on market heuristics and can help users with their goals more accurately. Overviewing the financial product marketplace through AR headset right from the office to get additional funding for the business. The user just has to input the card number, name, surname, ID number, phone number or any other recipient's details, and the virtual bank matches it to the database and requests any additional info that might be needed. Typically people invest in stocks, bonds, or a multitude of other things based on…well, anything! Tejas designs impactful digital products and works with major Indian startups, including the world's largest bank and credit card company. If you are seeking an exceptional competitive advantage in the digital age, contact us! Activating the banking AI advisor through an AR headset to schedule financial tasks while on an adventurous mountain hike. The client’s concern was that a significant percentage of users would use Fisdom to make their first-ever investment, so it was critical to educate first-timers about the process without making the experience “too novice” for everyone else. Tejas Bhatt. How we solved user drop-offs: A FinTech mobile app case study. In this app, the process is reversed. We tried to avoid the potential of users getting stuck because they were confused about the next step. Fintech Innovation Studio. This way, users could read up on anything they didn’t understand and skip everything else. After opening a list of particular account transactions, users can use the menu on the right to search for specific transactions, change the history time range or filter transactions by type, beneficiaries or categories. ... Design The MVP is an incremental roll-out design approach aligned by user research and concept validation and usability studies. In this way, users were given the opportunity to build rapport with the app. Vivid graphics and illustrations enhance the experience, which is important in order to make a dry subject like investing more exciting. If we look a bit further, we can see the disruptive perspective of AI that will go well beyond banking, completely transforming digital customer experience, and even providing super-powers to mankind. Fintech Case Study: 10 Tech Trends That Will Completely Change Our Banking Experience Published on August 11, ... UX design case study of how online banking user interface should work. Compared to the desktop or mobile experience, VR/AR design is not limited by the screen size. Those risks paid off; the Fisdom app now has hundreds of thousands of installs (up from 1-5k pre-redesign) and a 4.2-star rating on the Google Play store. He spent 10 years researching UX and finance to create UXDA's methodology. Make the app more visually appealing—Fisdom is intended for anyone interested in investing, not just for commercial use. The 13th largest bank in the US pivots for digital era. Minimalism in design is not about flat color palettes and non-skeuomorphic buttons—although often that helps—it’s about how information is structured and the cognitive load required to use the given features. ... Read the case study. For any blank states (zero-data screens), we provided clear call-to-action buttons so users were sure about the next step. At every step along the way, they can see what is happening, their current progress, and what’s next. We provide dedicated UX teams to brands worldwide. In an exclusive case study we uncover the TOP insights of creating an exceptional UX for a corporate banking product by iGTB that consists of … Resolve the high dropout rate that occurred before users started making investments. Starbucks Case Study. With Fisdom and several other apps like Wealthy and Sqrrl, fintech apps in India are improving thanks to a user-centered design approach. The last section, and the heart of virtual banking, is a banking AI-based advisor. In any case, it is Launch your new Fintech brand quick and easy One-day workshops Customer Journey Mapping. Immersive devices create an immersive experience by hiding the physical world and replacing it with virtual reality. From the get-go, it was important to set a playful tone—colorful sign-up screens convey a distinct personality and small transition animations help increase engagement. Sometimes it’s because they like the company, sometimes because they think it’ll do well, or perhaps because a financial expert recommended it. Get in touch. To adapt this 3D interface design for 2D devices, we placed elements in front and behind the main dashboard. When learning anything new, being bombarded with information can be overwhelming, which makes most users leave before they begin. DCU Fintech Case Study. SG New Tech. The virtual bank ecosystem of the future should provide not only its own products but also third-party services. During the research phase, we found that there were a few government-approved APIs that scan for and provide essential personal information. Redington had determined a use-case to create a digital, centrally accessible way to document the investment fund review process for their main client. This allows the user to “feel” his finances in a completely different way and discover a revolutionary, previously unseen virtual banking environment. Fintech UX Case Study. To create mixed-reality banking solutions, we need to develop technology that's behind VR/AR, but the main success factor is still all about the user experience. I got tired of seeing things that need to be fixed... so I became a UX Designer. Lean project: Toone. Interesting. UX Case Study: World's First Mixed Reality VR / AR Banking Design Concept. UX Case Studies. USA. But, true mixed reality potential lies far beyond games; it's a new digital platform that provides a revolutionary user experience. good to know that the level of coincidence in the findings is so great, So, let's explore in detail how UXDA's mixed-reality banking could enrich the future banking experience. Investing is hard enough, so we made a conscious effort to keep things simple, both for process and interaction. The app breaks the process of gathering all the essential information into bite-sized, distinct steps—making the system smooth and simple. UXDA stepped on the Finovate Europe 2019 stage in London beside other world's leading finance innovators and influencers to demonstrate which direction the financial industry is heading to. 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