How to Build a Fintech App That Stands the Competition

The fintech market is growing fast. So is the number of tech trends. But here’s the thing: if you want to build a fintech app, you may fall victim to the desire to implement all of them. This way can harm your business, as it does not focus on what users want from the app. So for those of you who want to learn how to create a fintech app that makes the most of the technologies available and serves your customers’ needs, this article is the best place to start. Here, you will find out about:

• Features a good fintech app must have;
• Things to keep in mind when building a fintech app;
• Cost of the fintech app development, and much more.

How do I know those things? I am Yan Likarenko – a Project Manager at Uptech. Over the last 8 years, I’ve managed the fintech app development for multiple projects of different complexity. These projects have provided me with exclusive knowledge that I would like to share with you here.

Let’s get it started!

The Fintech Industry Analysis

The term “fintech” is an acronym for “financial technology.” Essentially, it refers to the application of technology within the financial sector.

Over the years, digitalization has become the driving force behind building fintech apps, with the pandemic accelerating the shift towards digital financial services. Technologies such as online banking, trading platforms, NFT, blockchain, etc., improve the financial industry.

Let’s take a look at the numbers that will explain why mobile application development for fintech is such a big deal.

The global value of fintech investments was estimated at $59 billion in 2021, with the American continent attracting the lion’s share of this number. In 2023, the number was even higher – USD 294.74 billion. Moreover, by the end of 2025, the global value of the fintech market is expected to reach $124.3 billion and $1,152.06 billion by 2032.

Among the various fintech innovations, digital payments have emerged as a dominant product, capturing 25% of the market share. On top of that, the adoption of fintech solutions by traditional financial institutions highlights the industry’s momentum.

Over 60% of credit unions and 49% of banks have already formed fintech partnerships, recognizing the value of collaboration in enhancing their services.

This rapid evolution of fintech presents a unique opportunity for you – whether you are an established financial institution or a new startup – to create applications that change how the industry operates. As the lines between traditional finance and technology continue to blur, fintech mobile app development will be crucial for generating new value chains across consumer and business segments (C2C, B2C, and B2B), both locally and globally.

7 Steps to Build a Fintech App

It requires a lot of technical and domain knowledge to know exactly how to build a fintech app. At Uptech, we have firsthand expertise in making fintech software, including investment apps, online banking, neobanks, etc. Relying on this expertise, we suggest that you take the following steps to make a fintech app:

1. Decide on goals and a fintech niche
2. Choose the most suitable development approach
3. Engage in the planning phase
4. Decide on the features
5. Develop a fintech app
6. Test the app
7. Launch and monitor

Step 1.  Decide on goals and a fintech niche

First things first, define the goals of your fintech app. What do we mean? You must determine the specific problem you want to solve or the service you want to bring in or improve in the financial sector.

• Are you looking to simplify investing or completely change the game here?
• Do you want to change insurance processes?
• Or maybe you aim to offer a new kind of digital banking experience?

These are good questions to ask yourself before any fintech application development begins. For this, it’s important to:

• Stay updated on the latest technologies and innovations in fintech, such as blockchain, artificial intelligence, and open banking.
• Identify the challenges that users face with existing financial services – whether these are high fees or lack of accessibility.
• Do a thorough analysis of what other fintech companies offer, along with their strengths, weaknesses, and areas where you can offer a unique value proposition.

At the same time, while it's great to aim for uniqueness, fintech app development in a saturated niche isn't necessarily a problem. The development process itself remains pretty much the same and unaffected by how crowded the market is. The real challenges often come later with marketing and attracting users – but that's a whole different story. As a founder, you know your niche best and understand its specific issues, so it's advantageous to come up with a clear direction, user interviews, or initial insights.

You can reach out to us with well-defined goals, a specific problem to solve, and a chosen niche. If you're confident in these areas, we can proceed to the next steps. Alternatively, if just a bare idea is all you have, it’s not a problem either: We can collaborate during the Discovery phase (which we'll detail later) to flesh out your concept together.

Step 2.  Choose the most suitable development approach

How you develop your fintech app is another decision to make. You have several options, each with different impacts on cost, control, and resources.

In-house development

When you create a fintech app in-house, you assemble your own team of developers, designers, and project managers. This approach gives you complete control over the development process. Team members can collaborate closely, and communication is easy.

On the flip side, in-house development is often more expensive. The costs of hiring skilled professionals, providing salaries and benefits, and establishing the necessary infrastructure can add up quickly. Not to mention that recruitment can consume much time, which might delay your project's start date.

Outsourcing to a software development company

Alternatively, you can outsource the project to an external software development company. This option is often more cost-effective than having an in-house team. With it, you can get rid of expenses related to recruitment and long-term employment. Outsourcing firms usually have experienced professionals who can begin your project shortly and deliver high-quality results through their expertise.

The downside of outsourcing is that you have less direct control over the development process. Communication might require more coordination, especially if the external team operates in a different time zone or cultural context. For better results, you might want to outsource to countries like Ukraine that provide a great quality-cost ratio and have enough overlap working hours with the West.

Besides Ukraine, we have gathered the best countries to outsource software development to and highlighted the pros and cons of each.

Outstaffing

Outstaffing is a hybrid approach where you augment your in-house team with external specialists. This method works well if you already have a team but lack specific skills. The external professionals work under your management, which allows you to maintain control over the project's direction while benefiting from their expertise.

While outstaffing offers flexibility, it requires that you know how to integrate external specialists into your existing team. You'll need to invest time to make sure that all team members are aligned with the project's goals and workflows. For more information, you can read our guide on hiring fintech developers.

As you decide on the fintech mobile app development approach, consider factors such as your budget, timeline, and the complexity of your app. Ultimately, the right choice depends on your organization's resources and strategic objectives. Carefully weigh the advantages and challenges of each option to select the approach that best fits your project's requirements and sets the foundation for your fintech app's success.

Step 3. Engage in the planning phase

With your goals defined and your fintech app development approach selected, you step into the planning phase. During this phase, you identify your target audience and decide on the best monetization model for your fintech app.

Target audience identification

The most common mistake among startups is targeting the "whole world" of users. The truth is that the more vague and generic your target audience is, the harder it is to reach users' hearts. So before you start creating the fintech app, take your time to think about who specifically you are trying to get. Knowing your user in the face will help to clear out the requirements for your future product and create a fintech that satisfies the needs of your target audience. The problem of a vague target audience is widespread.

At Uptech, we had a project where the target audience profile was initially very generic. We knew nothing about our users – neither of their wishes or interests nor their troubles and pains. So we conducted a Product Discovery, where we met our potential users, talked to them, and shaped a specific profile. Consequently, it helped us to build an eco-banking product that provided a great user experience.

Half of the success is to understand who will use your app. Consider factors such as your target audience’s age, income level, and technological proficiency, among other things. Think about the financial challenges they face and how your app can address them.

For example,

• Do you want to help young professionals looking for easy investment options?
• Or small business owners who need better payment solutions?
• Or individuals who are looking for practical budgeting tools?

Having your target audience clearly defined, you can tailor your app's features and user experience to meet their specific needs.

Monetization model selection

Next, decide how your app will generate revenue. There are several monetization models suitable for fintech apps:

• Subscriptions. Offer premium features or services for a recurring fee. This model provides a steady income stream and encourages ongoing user engagement.
• Transactional fees. Charge a small fee on each transaction processed through your app. This is common in payment and investment platforms and aligns revenue with app usage.
• Advertisements and referrals. Partner with other businesses to display ads within your app or refer users to their services for a commission. This approach works best if you have a large user base.
• Selling data. Provide anonymized user data to third parties for market research purposes. Be cautious with this model, as it requires strict adherence to data privacy laws to protect user information.
• Paid access to APIs. Offer your app's functionalities to other developers through APIs for a fee. This is suitable if your app provides unique services that others might want to integrate into their own applications.

Choose a monetization strategy – or a few strategies – that aligns with your app's purpose and resonates with your target audience. Also, pay attention to the fact that it complies with financial regulations and does not negatively impact the user experience.

If you are a startup, you may want to read our article examining different business models for startups.

Step 4. Decide on the features

Here comes the phase when you and the vendor detail all the product’s requirements and create a clear fintech application development plan. During this stage, you and your chosen development team will detail all the product's requirements and create a clear plan to guide the project's progress.

Platform selection

Decide which platforms your app will support based on your target audience's preferences and needs.

• Web apps are accessible through web browsers, ideal for users who prefer desktop interfaces.
• Mobile apps are developed for mobile systems (iOS, Android, or both) to reach users on their preferred mobile devices.
• Cross-platform development allows a single codebase to run on multiple platforms, which saves time and resources while ensuring a consistent user experience.

The choice of features

Of course, the list of features will be defined for every other fintech app individually. However, below, you can find some of the important features that an app providing financial services online should wield. Let’s take a look!

Sign-in and onboarding. The first basic feature a fintech app should have is sign-in. In fact, this is more than just a sign-in. Some online banks allow users to create their own bank accounts during onboarding. So, the main thing here is to make the sign-in and onboarding process simple and clear to the user.

Secure authorization and authentication. To protect user accounts, you must implement robust login methods, such as encrypted passwords and security questions.

Account aggregation. This feature allows users to link multiple financial accounts and provides a comprehensive view of their finances in one place.

AI assistant chatbot. AI-driven chatbots can provide exclusive customer support, answering hundreds of questions simultaneously 24/7. This is an advantage for users and employees, who can tackle more essential tasks while the chatbot handles the queries.  

You can look at how these and other features have been implemented in one of the cases that Uptech has worked on.

Budgeting and savings tracking. This tool helps users monitor their spending habits and set savings goals to improve financial health.

Payments and transfers. The heart and soul of almost any fintech app is quick and secure payments and money transfers between accounts or to other users.

For example:

• Digital payments;
• Money withdrawals;
• Digital Lending;
• Deposits;
• Money transfers;
• Card management.

The more operations you allow your users to complete without going to a brick-and-mortar bank, the more value your app will bring to them.

Cashback. Cash has long ago evolved from being a nice-to-have bonus to a must-have feature of a fintech app. The users will enjoy using the app much more if they know they will benefit from the transactions they make.

Cards and account management. Functionalities for users that help them manage their debit or credit cards, check balances, and review transaction histories.

Personal spending analytics. You can provide diagrams or graphics of the spending analytics for the users, helping them track their expenses and change their spending habits.

Custom push notifications. To ensure your fintech app follows the user’s pace of life, you need to provide custom notifications. Let the users choose which information they want to receive, which will bring personalization to the app.

Customer support. In-app support features such as live chat or a help center to assist users with their queries.

Apple/Google Pay feature. Since users have started using Apple/Google Pay for fast, on-the-go payments, traditional transactions are out of the question. Add this payment option to your fintech product to provide a flawless user experience.

Integration with different payment gateways. Support of various payment processors like PayPal, Stripe, or traditional banks to facilitate seamless transactions.

Identify and prioritize the essential features that will make your fintech app valuable to users.

Compliance and security

You must comply with all required financial regulations and implement robust security measures. It is non-negotiable in fintech app development.

As for regulatory compliance:

• PCI DSS stands for Payment Card Industry Data Security Standard, which you must adhere to secure credit card transactions.
• GDPR (General Data Protection Regulation) is the EU regulation you comply with to protect personal data if you are planning to operate in Europe.
• KYC (Know Your Customer) procedures verify user identities and prevent fraud.
• MiFIR (Markets in Financial Instruments Regulation) is another regulation you must follow if your app involves trading activities within the EU.
• FTC compliance – the regulations issued by the Federal Trade Commission (FTC). For example, Gramm-Leach-Bliley Act (GLBA) and the Fair Credit Reporting Act (FCRA);
• Cybersecurity requirements;
• Electronic Fund Transfer Act (EFTA) compliance.

To build trust and meet regulatory requirements, you must implement the following security measures:

• Two-factor authentication –  an additional verification step, such as a code sent to the user's phone, to enhance account security.
• Biometric security – fingerprint or facial recognition technologies for secure and convenient user authentication.
• Registration via phone – new accounts are verified through mobile numbers to add an extra layer of security during the sign-up process.
• Dynamic CVV2 codes – temporary security codes for card transactions to reduce the risk of fraud.

These are just a few of the important security features and regulations to comply with if you want to create a robust fintech application.

By the way, we have a comprehensive guide that outlines the top mobile app security measures.

Step 5. Develop a fintech app

With your planning complete, it's time to bring your fintech app to life. The development process includes several stages.

Fintech app design

The design phase defines the user experience and engagement. Here, the main focus should be on a user-centered interface that’s intuitive, simple, and visually appealing.

There are two aspects of the design stage:

User Experience (UX) design. The design team conducts user research to understand their behaviors and preferences. After that, they use familiar icons and gestures to create intuitive navigation with a logical flow for improved usability. It's also important to pay special attention to accessibility for all users, including those with disabilities. For this, you may want to incorporate adjustable text sizes and compatibility with screen readers.

The User Interface (UI) design. Another part of the design process is to maintain consistent branding in colors, typography, and imagery to build recognition and trust. For example, our design team uses visual cues to guide users' attention to important elements like call-to-action buttons or key financial indicators.

MVP development

It's always advisable to start with Minimum Viable Product (MVP) development. An MVP includes the core features essential to your app's functionality. As such, you can test your idea in the market with minimal resources to see if it has the potential to be developed further.

And, of course, as a reliable software development company, Uptech provides MVP development services so that you can validate your product idea.

Architecture and tech stack

The tech stack is the combination of programming tools you will need to build your fintech app. It usually includes the front end, back end, databases, API integrations, and other necessary tools.

For any specific fintech app, there will be a certain tech stack. Here are some general recommendations for tech stack for building a fintech app. While there are a lot of components engaged within the process, we’ll list the key ones so you can have a general idea of how things are done at this stage.

• Cloud services. Choose reliable cloud platforms such as Amazon Web Services (AWS), Google Cloud Platform (GCP), or Microsoft Azure. These services offer scalability, flexibility, and a range of tools that can accelerate fintech mobile app development.
• Databases. Opt for robust and secure databases to handle your data efficiently. Popular choices include PostgreSQL, MySQL, and MongoDB – each offers strong performance and scalability options.
• Backend programming languages and frameworks. Languages like Java, Python, or JavaScript (Node.js) are well-suited for building the server side of your app. Frameworks such as Django for Python, Express.js for Node.js, or Spring Boot for Java can help optimize backend development.
• Frontend programming languages and frameworks. If we take frontend development, specialists commonly utilize frameworks like React, Angular, or Vue.js to create a responsive and intuitive user interface for web apps. For iOS, Swift is the standard language, while Kotlin is used for Android. If you aim for cross-platform compatibility, consider Flutter or React Native, which allows you to write code once and deploy it on both iOS and Android devices.

APIs for integration

The integration of third-party services can improve your app's functionality and provide a better user experience. These can be the following APIs:

• Payment gateways. Services like PayPal, Stripe, or Braintree help handle secure payment processing.
• Banking APIs. Use Open Banking APIs to connect with banks and financial institutions, allowing for account integration and data sharing.
• Financial data providers. Integrate with providers such as Plaid to access real-time financial data and account aggregation services.

When the jobs are done here, the app moves to the testing and deployment phases. During development, it’s helpful to adopt an Agile development approach. At Uptech, we adhere to the Agile methodology to ensure flexibility and iterative improvements in our development process. This approach allows us to incorporate regular testing and user feedback. Thanks to this, we can refine your app continuously and deliver a product that meets your specific needs.

Step 6. Test the app

Before you roll out your fintech app, you must test it to ensure it operates as planned.

There are various types of testing to conduct at this stage.

• Functional testing. This type of testing is used when you need to verify that all parts of the app perform their intended functions without errors.
• User acceptance testing (UAT). Involve a group of end-users to test the app in real-world conditions. Their feedback can provide insights into any remaining issues and confirm that the app meets user expectations.
• Security testing. Since fintech apps handle sensitive financial information, conduct rigorous security tests to identify vulnerabilities. This includes penetration testing to check for weaknesses that could be exploited by hackers.
• Performance testing. Evaluate the app's responsiveness and stability under various conditions, such as high user load or poor network connectivity.
• Compatibility testing. Ensure the app functions correctly across different devices, operating systems, and screen sizes.
• Compliance testing. Verify that the app complies with all relevant financial regulations and industry standards.

Quality Assurance (QA) can be handled either in-house or through outsourcing. What’s more, different outsourced teams or specialists from various companies can manage development and QA separately. This way, each team focuses on their specific tasks without overlapping.

At Uptech, we provide all QA and software testing services so that you receive bug-free apps and happy users. Remember: when you invest in thorough testing, you invest in the app's quality and reliability, which can lead to higher user satisfaction and trust.

Step 7. Launch and monitor

With testing complete and all bugs fixed, your fintech app is ready for launch. Releasing the app is a significant milestone, but it's important to continue monitoring and refining the app post-launch.

As for the launch part, you will need to:

• Set up and configure the servers. You can deploy the app on your chosen platforms, such as the Apple App Store, Google Play Store, or your website for web apps.
• Use digital marketing channels like social media, email campaigns, content marketing, and partnerships to increase the app’s visibility.
• Provide clear instructions, tutorials, or guided tours to help users understand how to use your app effectively.

Post-launch, you will do the following activities:

• Use analytics tools to track the app's performance, user engagement, and other key metrics. Monitor for any crashes, slow load times, or technical issues that could affect user experience.
• Encourage users to leave reviews and provide feedback. Pay attention to their comments to identify areas for improvement or new feature requests.
• Keep your app up-to-date with regular updates that fix bugs, improve security, and add new features.
• Continuously monitor for new security threats and update your app's security measures accordingly.
• Be prepared to scale your infrastructure to handle an increasing number of users.

Keep in mind that any app requires an ongoing effort: There’s no way you can build a fintech software solution and forget about it.

What Are the Main Types of Fintech Apps?

As mentioned above, we have gathered the main types of fintech apps. Let us look at some of them more closely:

Digital banking and neobanking

To start with, digital banking is the most straightforward option that comes to mind when thinking of the fintech industry. Banks build fintech solutions to allow clients to reach their accounts easily and fast. It also benefits the banks as they can manage their clients' data.

Example: Chime Digital Banking App, Aspiration

Chime is one of the fintech leaders and one of the most popular neobanks in the US market. As a typical banking app, it helps users to manage their accounts and make quick payments. The stellar feature of Chime is the lack of banking transactions: the app does not charge anything from the users.

Aspiration is an online banking alternative that blends financial services with sustainability: They help users manage accounts and make payments while ensuring deposits aren’t used to fund fossil fuel projects. With its “Pay What Fair” model, users can contribute voluntarily, with a portion going to non-profits supporting climate action.

We at Uptech had the opportunity to support Aspiration in developing their software. Check out their testimonial.

Regulatory technology (RegTech) solutions

RegTech apps make it easier for financial institutions to follow regulations through compliance automation. These solutions help companies monitor transactions, detect fraudulent activities, and ensure transparency. They also reduce operational costs by automating routine reporting processes.

Example: ComplyAdvantage

ComplyAdvantage offers a RegTech solution that helps financial institutions stay compliant with anti-money laundering (AML) regulations. Its system uses AI to monitor transactions in real-time and identify suspicious activities before they escalate.

Payments, money transfers, billing

Digital payments are the biggest branch of the fintech development industry. These apps usually provide the opportunity to make cashless payments fast and easily. Digital payment platforms work in bond with digital currencies and e-wallets.  

Examples: PayPal, Payoneer

PayPal is a payment platform that allows secure transactions while keeping the data of both vendors and customers hidden and protected.

Payoneer is another digital payment system that provides domestic and cross-border money transfers. Payoneer is quite popular among freelance workers, as it is integrated with many freelance platforms.

Cryptocurrencies and blockchain apps

These apps support trading, investing, and managing cryptocurrencies like Bitcoin and Ethereum. Blockchain-based apps also enable decentralized finance (DeFi), where financial transactions occur directly between participants without relying on traditional institutions.

Example: Coinbase

Coinbase is one of the most popular cryptocurrency trading platforms. It offers users a secure environment to buy, sell, and store digital assets. With a simple interface and strong encryption, it appeals to both new and experienced crypto investors.

Robo-advising and stock trading

Robo-advisors use algorithms to provide users with automated investment advice. Stock trading apps give users access to trade stocks and other assets directly from their smartphones, making investing more accessible.

Example: Wealthfront

Wealthfront is a robo-advisor that offers automated portfolio management. It helps users set investment goals and allocate assets accordingly, which results in a diversified portfolio with minimal effort from the user.

Insurance tech (InsurTech) applications

InsurTech apps offer more personalized policies and optimize claims processes in the insurance sphere. They also help insurers reduce operational costs through automation and improve the customer experience.

Example: Lemonade

Lemonade is an InsurTech app that simplifies the insurance process. It offers renters, homeowners, and pet insurance policies through a user-friendly interface and helps process claims within minutes using AI-powered chatbots.

Personal finance and budgeting apps

These apps help users track their spending, set budgets, and achieve savings goals. They also provide insights into financial habits, helping users make better financial decisions.

Example: Mint

Mint is a popular personal finance app that aggregates all user accounts in one place. It tracks expenses, sends alerts for bill payments, and offers personalized tips to help users stay on top of their finances.

Peer-to-peer (P2P) lending and crowdfunding platforms

These apps make the interaction between the borrower and the lender easier and smoother. Such apps usually function as peer-to-peer platforms, where lending is done from one user to another as equal parties on the platform.

Example: Prosper Lending Platform

Prosper is a San Francisco-based startup that enables users to lend and borrow money directly from each other. It charges small fees on each loan, making the platform profitable while offering borrowers an alternative to traditional loans.

Investment and wealth management apps

These fintech apps help investors explore financial assets and funds and invest in them successfully. They also provide users with relevant newsfeeds and data that help make an informed investment decision.

Example: Robinhood

Robinhood is the most popular investment and trading app on the US market. Robinhood’s stellar features are zero transaction fees and an increased security level. The investment app also provides asset management tools and real-time market analysis.  

A Few Words about Main Challenges in Fintech App Development

For sure, your fintech app has all the potential to come to the market’s top list. However, certain risks are faced when building a fintech app that should not be ignored. Here are some of them:

Intense competition

Though the alive market of the fintech apps is excellent news for small to medium business owners and startups, this is also a challenge. Keeping up with the competition from emerging small startups and big tech companies like Google and Apple is the reality that a fintech app developer will face.

Uptech’s Protip: To stand the competition, you need to make a fintech app that brings real value to the user. To make this possible, we at Uptech conduct Product Discoveries that help to identify users’ pains, needs, and wishes. It helps us to identify real users’ needs, which sometimes can be so different from what you expect!

The need for strong security

Yeah, I know what you are thinking: “Security again!”. Well, we cannot stress it enough – there cannot be too much security in fintech apps.

Just like we mentioned above, besides following the necessary legal security regulations, you must take measures to ensure user data is safe. These can be the following measures:

• Multi-Factor authentication.
• End-to-end encryption of internal transactions;
• Real-time alerts and notifications in case of unusual activity in the app;
• User behavior analysis for fraud prevention;
• Safely digitized documentation – a unique encryption key for every user;
• Secure protocol access (HTTPS instead of HTTP);
• Secure KYC process ( a multi-step process of users’ identity verification)
• Non-disclosure agreements signed for employees and vendors;
• Data loss prevention.

Security is one of the main guarantees you need to implement to attract a user to your app.

High performance and scalability necessity

A fintech app must scale effectively and deliver high performance as the user base grows and transaction volumes increase. The app should process transactions without delays or downtime, as slow performance or outages can frustrate users and erode trust—critical factors in the financial industry.

At Uptech, we use cloud-based infrastructure that adjusts capacity based on demand. In this way, we can ensure fintech apps are prepared to scale. We also run performance tests throughout development to identify bottlenecks early. Another solution we opt for is a microservices architecture that helps distribute workloads.

How Much Does It Cost to Create a Fintech App?

The cost of developing a fintech app may vary depending on:

• The location and the type of the development team (in-house, outsourced);
• Product scope;
• Time of development.

You can read our article How Much Does It Cost To Make an App to get a better understanding of how the development cost is formed.

Let’s take an online banking app, for example, and look at its cost estimations. Here is the breakdown of how much time the development of each feature takes. The average hourly rate in the Eastern European region is about $50-70.

Here is another cost estimation depending on the development stages:  

• Discovery (user research and analysis) – $20,000 and higher;
• UI/UX Design – $4,000 and higher;
• Frontend Development – $16,000 and higher;
• Back End development – $32,000 and higher;
• Mobile app development – $64,000 and higher;
• Quality Assurance – $8,000 K
• Support and Maintenance – depends on the amount of work ($60-75 per hour).

Total: about $130,000.

3 Tips on How to Create a Fintech App for Better User Engagement

It sometimes happens that by integrating multiple technologies into the fintech app, developers forget that such an app has to be human-oriented. Here are some tips on how to make your fintech humane and attractive for users.  

Leverage UI/UX design best practices for fintech

Remember that your users are humans who may or may not have a financial background. Include human behavioral patterns and create a UI that will match them. For example, people tend to forget where specific numbers and documents are (like the Security Number). To help them out, you can set an informational note hinting where the user can find the number.

Expert’s Protip: To provide a valuable user experience, I recommend carrying out the proper user research, which includes user interviews and user tests. This is important to bring the right UX/UI solutions that would match user needs.

Use gamification for involvement

To involve your users, use up-to-date solutions to freshen up the user experience. For example, integrate the gamification elements into your fintech app. For example, give users status labels for financial achievements so that they feel challenged to get even more of them.

Opt for personalization and customization techniques

You should opt for personalization techniques to make your fintech app more engaging and user-centric. Tailor dashboards, categorize transactions, and offer personalized spending insights to align with users' financial behavior. Allowing users to set goals or customize the app’s appearance gives them a sense of control and enhances their experience.

Use AI to provide personalized recommendations, adaptive notifications, and spending analysis that match individual user needs. At Uptech, we build various AI solutions, including genAI, that enable fintech apps to deliver these personalized features.

For example, in this article, we explain how AI is used in baking. And this one details how to integrate AI into an app generally. Make sure to check them out.

Building a fintech app is a gratifying business. Yet, it requires a lot of domain knowledge, profound research, and analysis to bring a solution that provides value to the users.

With a product team specialized in product development, you have all the chances to build a fintech app that matches real user needs.

Contact us to learn how exactly our team can help you build a competitive fintech app.