User-centric strategies, enhancing security and trust, and creating unique individualised experiences – here’s how to optimise your UX for customer satisfaction that soars
Need to boost customer satisfaction in FinTech?
It’s becoming more important by the day – traditional finance providers have been losing customers apace in recent years (as much as one in five in some regions) simply because financial decision-makers are looking for more innovation, capability and better experiences.
Customer satisfaction isn't just a buzzword; it's a key indicator of business growth and health. Satisfied customers are more likely to make repeat purchases, remain loyal, and act as brand ambassadors by referring others.
Here’s how to use your UX to drive customer satisfaction…
In fairness, before you even get to UX, we need to recognise that customer satisfaction will be greatly impacted by larger factors, such as your commitment to innovation, solving the right problems and doing it in a way that drives efficiency and value for the user.
For the purposes of this post, we will assume that you have all those vital FinTech “business” factors in place. That you are offering huge value, actively engaging, learning and adapting daily based on user needs and have built some measure of brand trust.
Now, can you produce some satisfaction wins with your UX approach?
User experience (UX) is more than design; it’s about creating a seamless, intuitive interaction between the user and the platform. When a FinTech product is easy to use, visually appealing, and meets the user’s needs, it naturally leads to higher satisfaction.
A well-optimised UX directly impacts customer satisfaction by reducing friction, enhancing the perception of value, and fostering trust. For example, a streamlined onboarding process can make users feel valued and respected from the start, while personalised features can show that the platform understands and caters to their unique needs.
Here’s how to use it to drive satisfaction, engagement and conversions…
Creating a user-centric FinTech product requires a deep understanding of your users' and niches’ specific needs, behaviours, and pain points. This might require research at first, then deep-diving into data and collecting feedback.
Initially, tools like user personas and journey mapping can be invaluable in starting to build UX design to meet general needs. And then you can start using customer journey analytics to test your previous assumptions and use real data to refine your approaches.
By understanding what your users want and how they interact with your platform, you can design experiences that not only meet but exceed their expectations.
How to measure: Collect and analyse customer feedback or just post-paunch surveys – here’s how to conduct customer interviews and how to ask the right interview questions.
FinTech applications often involve intricate financial processes, which can be overwhelming for users. Simplifying these processes through intuitive design, clear navigation, and user-friendly interfaces can significantly enhance the user experience.
Try to remove unnecessary complexity to reduce friction and make it easier for users to accomplish their goals – that’s what generates satisfaction.
How to measure: Monitor user task completion rates and the time it takes to complete tasks in analytics. If tasks are taking too long or being left half-done, you know you need to intervene – see how to use your data to boost customer loyalty and focus on data-driven development.
Personalisation is a powerful tool for boosting customer satisfaction. Customised dashboards, tailored financial insights, personalised notifications etc. increase user engagement and satisfaction. When users feel that a product is designed specifically for them, they are more likely to develop a strong connection with the brand.
See how to use machine learning for personalisation and how to implement personalisation at scale.
How to implement: See how to use data analytics to hyper-personalise and boost your customer experience in finance. Also learn to reduce churn by using segmentation tools to identify and retain your high-value customers.
90% of user perception will depend on their first interaction with a FinTech product, so it sets the tone for their entire experience. A smooth, frictionless onboarding process – with clear instructions and minimal data entry – can create a positive first impression and encourage users to continue using the platform.
See what might cause low app engagement and see the signs you need a UX audit.
How to implement: Analyse onboarding completion rates, the time taken to onboard and drop-off rates during the onboarding process and improve anything that underperforms.
UX optimisation is not a one-time task; it’s an ongoing process that requires continuous testing and iteration. Regularly gathering user feedback and conducting usability tests can help identify areas for improvement and ensure that the platform evolves with user needs.
By staying responsive to user feedback, you can maintain high levels of satisfaction and keep your product relevant in a competitive market.
How to implement: Use tried-and-tested innovation approaches such as design thinking, building Lean, using Agile and using MVPs to test ideas, gather feedback and iterate on. Also, see how to use A-B testing in digital banking. Also learn to reduce churn by using segmentation tools to identify and retain your high-value customers.
Finally, don’t underestimate the power of emotional design in creating a positive user experience. Incorporating elements such as visual aesthetics, micro-interactions, and engaging content can create a more enjoyable and emotionally resonant experience for users.
When users feel good about using a product, they are more likely to remain loyal and satisfied.
How to implement: See why you need design thinking in finance, how to incorporate emotional UX in your product and how to refine your user engagement strategy.
Need help optimising your FinTech experience?
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