Are you running a Mobile App Development Company or just planning to switch into the corresponding service market? Then it’s indeed a smart yet challenging decision. Despite having a higher opportunity for client projects, the mobile app developers face different challenges as per the business model. Talking about the finance sector, 2.4% of mobile apps available on the Apple store represent the industry. That means there are thousands of such apps available.
On the other hand, Google Play Store has got a higher number of finance-related mobile apps. In this way, the business model is quite popular among global smartphone users. Consequently, Mobile App Development Companies are also supporting online finance-based business models. But they’re facing certain UI/UX design challenges amid creating mobile apps. These challenges can surely affect the app’s appearance and usability to a higher extent.
As a result, app developers can ruin the entire project and degrade their market value before the emerging finance app companies. In this post, we want to discuss those UI/UX issues the App Development Companies are facing and how to overcome the same for enhanced app performance. We’ll also learn about the various essential aspects of personal finance-based mobile apps that new app developers need to learn before delivering a project.
Let’s explore the topic in detail!
What Is a Finance-Based Mobile App?
Finance is among 2 of the fastest growing mobile app categories available in the app stores. The 2nd is mobile commerce. Mobile App Development Companies and app businesses need to target their opportunities and introduce innovative disruption in some form across the relative market. Finance-based mobile apps can bring them a huge opportunity to control the market conditions.
Personal finance apps help users and corporations keep a proper record of their financial transactions and relative virtual and physical dealings. The users can track their financial operations effectively and withstand the monetary issues related to their business plan in the future. Enlisted are the various important aspects of personal finance-based apps that App Development Companies shouldn’t miss out on:
- Budget Tracking
- Credit Score
- Investment Guide
- Transactional Records (cloud-based or traditional)
- Consumer Satisfaction Rate
- Round-Up Multiplier
- Growth Potential Checker
- Account Balance Checker
- Investment Adjustment
- Admin Access Solutions
Using these features, app users and companies can regulate their financial transactions more effectively and regularly. Even after deploying all these aspects in the mobile app, the App Development Companies have to undergo certain UI/UX issues that need to be overcome. Appikr is delivering innovative app development solutions for these finance-based mobile app challenges the clients face. Based in the UAE, the company is devoted to providing for many revolutionary iOS and Android app building projects!
5 UI/UX Design Challenges that Financial Mobile App Development Companies Are Facing
Maintaining the mobile app UI/UX design could become a challenge for newbies as well as experienced app developers and designers at times. That’s because the user trend, tastes, and preferences regarding the app features and functions keep changing. The Mobile App Development Companies has to consistently track such trends and improve the app content from time to time.
In this segment, we’re going to reveal the top 5 UI/UX challenges that finance-based app businesses can face these days. We’ll also review the deserving solutions to such issues that app development companies need to follow. Let’s proceed!
1. Poor User Research
Mobile apps are created to facilitate specific user demands. These demands can differ across various online business solutions. Finance apps also provide a specific business solution to users. Hence, the app developers or app companies need to conduct good user research before initiating the app-building project. Insufficient user research can lead to poor UI/UX design and consequently lower user traffic and engagement.
The UX design of a fintech app has unique accessibility features that the users can’t find on other apps. They’re often used to some specific features. Mobile app developers should note down such features amid conducting user research.
2. Insufficient UI Elements
The app UI components collectively contribute to the frontend appearance and functionality of the mobile app. Mobile App Development Companies must ensure sufficient app UI elements while creating one for fintech. Finance is indeed a complicated subject for newbies and budding users. The app developers are required to simplify the app UI for improving user interaction.
Here are the common traits that the UI elements need to showcase:
- Simplicity
- Visual Cues
- Heatmaps
- Consistency
- Interaction
3. Challenging UX Accessibility
The main aim of UX design is to cater to improved user accessibility. The higher the app accessibility, the better user experience the app companies are capable to offer. The UX design of the mobile app must be flexible, simple, intuitive, and cater to multiple shapes, colors, and sizes. In addition, the mobile app UX must have responsiveness as per various user operations. In short, a responsive app design can surely fit the finance-based business model.
4. Poor Security
The next challenge for Mobile App Development Companies is to safeguard the interest of users and customers visiting the mobile app. The fintech apps often provide users with various options for online payment and money transactions. To prepare such apps against cyber threats the app designers must add some security measures to the UI/UX design. These measures can include- Secure Coding, Encryption, Regulatory Compliance, MFA, Blockchain, Notifications & Test.
5. Ineffective Onboarding
The reason why app developers need to optimize the onboarding procedure is to create a better first impression of the mobile app. Moreover, it can improve user engagement for mobile app functionalities. On the other hand, an ineffective onboarding UI/UX design process can badly affect the user interest in your mobile app. By implementing the right onboarding components, the app developers can easily guide users regarding the app icons, action buttons, and transactional portals in advance.
Wrapping Up
In this way, Mobile App Development Companies can surely withstand the various UI/UX finance app challenges and lead to a better mobile app performance for both users and the company. The UI/UX design of a mobile app is an important factor to decide the future of the app business, whether associated to finance, eCommerce, or any other sector. Contact Appikr for added information regarding your mobile app building & UI/UX design project today!!
