Why User Experience Is So Important For FinTech

According to Justin Mifsud, the founder of Usability Geek, “88% of online consumers are less likely to return to a site after a bad experience.” You can have the best financial tech on the market and the best marketing team on earth to promote it. But if people don’t like using your product, it will fail. The key is to give users the best experience. You can take steps to do it right now so that users will positively shout about your product from the rooftops.

#1 Use The Human Touch For The Best User Experience

You can lean on your technology to do the talking, but it’s still tech at the end of the day. Look at your technology critically and see how you can integrate it with human service. We’re all advocates of the future of technology, but nothing beats a human connection. It’s personal and a softer and easier interaction for users. To get the best of both worlds, create something that uses the human touch and delivers the best user experience.

#2 Offer The Best Customer Service To Retain Customers

Research by Bain & Company in financial services found a 5% increase in customer retention resulted in a 25% increase in profit.  Plus, there is no excuse in our digital world to deliver the best customer service. There are so many ways you can connect with your users. Think about times when you have experienced bad customer service. It makes you feel neglected. Treat your uses like valuable eggshells that you never want to break. Always respond quickly online or on the phone and treat them with respect.

#3 Promote Your Data Security Whenever You Can

The user experience involves so much more than having a system that is easy to use. Data Security is always high on customer lists when using a new product or service. For example, if users are nervous about using digital apps to control money, they will need constant reassurance that everything is secure. You can tell users that your system is safe, but they want to see it is first-hand. Pull out all the stops and give them what they want.

#4 Boost User Experience By Creating Content For Them

Your products and brand will go through different transitions as your business grows. Don’t forget to take users on that journey with you. Remember, as your product or service grows to keep your users informed. If they aren’t interested, maybe it’s because they don’t know the new product. You can counter this by creating content on your website and posting it on social media. Also, you can guest post on sites like Planet Compliance to spread the word.

#5 Use Bad Feedback To Develop Your FinTech Solutions

There is no such thing as bad feedback. Sure, it can hurt if you are emotionally attached to your business. But take the emotion out of the equation. Spin it around and be grateful for the feedback. How many other users have had the same bad experience? Whatever was wrong with the user experience, you can develop your fintech solution to match your customers’ needs. Nip it in the bud, learn from it, and then move on. 

#6 Understand At-Risk Customers

PwC research in the US found that 59% of customers walk away after several bad experiences and 17% after only one. You can reduce customer churn by monitoring what they do. Do some ask questions about new products but don’t buy them? Or ask for information and then disappear. Reach out to these customers and find out why. The answer might surprise you. You can convert these customers and identify potential flaws in products. 

#7 Complaints Are Opportunities In FinTech

Don’t be scared of receiving complaints. Any complaint is an opportunity to create something better than you already have. This info is like gold dust in FinTech. You might think you have made the best thing since sliced bread. But your customers might be coming across a few annoying hurdles. Take the complaint onboard and always respond politely to it. A company that is prepared to own its problems speaks for itself.

Make User Experience A Priority

Put yourself in your customers’ shoes and be open to their feedback and complaints. Remember to use a personal touch, keep data security tight and remind users about the security aspects. You can regularly create content on different platforms to keep users engaged. Also, match your product or service to what users need to keep them happy in the long term. It will all help you deliver the best user experience possible.


Do you want to get your business or content noticed? Get in touch with us at Planet Compliance, and we can help. We’re looking forward to hearing from you!

Sally Leslie

Sally creates B2B content for businesses, entrepreneurs, and startups. She has a PR degree and a background in business development and sales. She is passionate about motivation, time management, and the changing world of finance.


Sally Leslie

Sally Leslie is the content editor for Planet Compliance. She also writes B2B content and case studies for entrepreneurs, SMEs, and startups worldwide. She is a lover of plants, freedom, and football. https://www.contentcatcreations.com/

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