Fintech Pushing Hard For Cashless Society
10 April. 2018
4 mins read
We wanted to share our learnings after partnering with a fintech firm, to help with building their product. It is a privilege to partner with companies – where innovation and prototyping are alive and kicking… where the status quo is looked down upon.
The fintech culture is set up to encourage new ideas and learn from their mistakes and always keep reminding themselves of their vision. It is also really important to create a target audience by doing UX research and creating lean personas.
Promote a Cashless Society
Mobile wallets, contactless payments, wearables – all of these technologies are encouraging us to get away from cash. As fintech companies are taking major risks with new technologies to get a breakthrough with their customers and win them over with convenience. Trust is one of the biggest challenges, but they are pushing hard for a dream of a cashless society.
They are Fearless
They are looking to challenge every fundamental principle we take for granted. With the banking industry being fairly old and lucrative, comes a lot of opportunities. Most of the larger companies are so focused on optimizing their existing process, instead, fintech companies are rethinking the way we will do transactions from the ground up.
Keep it Simple
The mindset starts with, how can we make it as simple as Amazon’s one-click button. What can we do to avoid more than one step? Also, questions are always raised such as is there a way we can make it more intuitive for the user?
Interestingly, the thought doesn’t start with how customers are interacting and doing transactions with the banks today, it’s more about how the consumer of the fintech solution would interact.
Again, the project is still ongoing and we have learned a lot partnering with a fintech company. Stay tuned for an upcoming article about UX design for fintech.
UX Audits for Fintech
Idea Theorem has recently launched UX Audit services for you to understand where you are missing pieces to gain a more user base.
Idea Theorem™ is an award-winning design & development agency based in North America. Through our empathy-driven approach, we have crafted digital products that have positively impacted over 10 million users. Our mission is to shape the digital future by delivering exceptional experiences. Contact Us if you have any questions; we will gladly help you.