By WalkingTree September 10, 2020
If you are into UX, you probably heard people say things like “simple is better!”, “just make it easy for the user!”
But, this is definitely not the case when it comes to fintech. Financial apps are not like other apps. Mainly because:
- Managing your finances and investments is an absolutely vital function
- Many people struggle with understanding finance and opt for hiring a financial advisor. For these reasons, financial apps should be treated with caution because of how much is at risk.
Instead, fintech apps should carefully use friction in their apps in order to slow down the user’s process and make them think about what they are doing. Using friction in your fintech is an opportunity to:
- Build trust with your users by showing you have their best interests at heart
- Gives users the confidence to invest
- Prevents users from making grave mistakes while making any transactions
How much friction is too much though?
Fintech apps shouldn’t be incredibly difficult to use. Instead, Fintech apps should still be perceived as comfortable, with speed bumps before important actions (such as large investments or transfers) and intermittent hand-holding throughout.
Read on to know more about friction in Fintech applications.
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