Fintech App User Research & Redesign
Building Trust in Digital Financial Services
Company
FinanceFlow Ltd
Location
London, UK
Duration
2022 - 2023
Role
Lead UX Researcher
Overview
Conducted extensive user research with diverse financial demographics to redesign a fintech application, increasing user trust scores by 72%, transaction volume by 58%, and achieving £2M+ in new customer acquisition.
Challenge
Fintech app had low adoption among mainstream users due to trust concerns and complex interface. Users preferred traditional banking despite higher fees. Only 18% of users completed their first transaction, and average session duration was 2.3 minutes.
Solution
Redesigned interface with clear security indicators, simplified transaction flow, added educational content about financial concepts, implemented progressive feature disclosure, and created trust-building onboarding experience. Reduced first transaction time from 8 minutes to 2 minutes.
Research Phase
Financial User Research & Trust Analysis
Duration: 10 weeks | Participants: 150
Research Methods
Key Findings
Trust Concerns
Users had significant concerns about app security and data protection
Impact: Added clear security indicators and transparent data policies
Transaction Complexity
Complex transaction flow prevented users from completing transfers
Impact: Simplified transaction interface with step-by-step guidance
Financial Literacy
Users lacked understanding of financial concepts and features
Impact: Added contextual help and educational content
Demographic Differences
Different age groups had different needs and mental models
Impact: Created adaptive interface for different user segments
User Personas
Understanding the diverse needs and motivations of key user segments
Robert Thompson
Conservative Investor
BACKGROUND
Traditional banker skeptical of digital finance
GOALS
- •Understand digital banking
- •Ensure security
- •Maintain control
PAIN POINTS
- •Distrusts technology
- •Wants transparency
- •Needs clear explanations
"I need to understand exactly what's happening with my money before I trust this app"
Sarah Chen
Tech-Savvy Millennial
BACKGROUND
Digital native seeking convenience
GOALS
- •Quick transactions
- •Advanced features
- •Seamless experience
PAIN POINTS
- •Wants efficiency
- •Expects modern design
- •Values innovation
"I want banking to work like my other apps—fast, intuitive, and always available"
Maria Garcia
Immigrant Sender
BACKGROUND
Sending money to family abroad
GOALS
- •Send money quickly
- •Low fees
- •Track transfers
PAIN POINTS
- •Language barriers
- •Wants low costs
- •Needs reliability
"I need to send money to my family reliably and affordably"
Implementation Approach
Research & Strategy
4 weeks
- Conducted 30 in-depth user interviews across different demographics
- Performed trust analysis and security perception research
- Analyzed competitor apps and industry best practices
- Created detailed user personas and journey maps
Design & Prototyping
6 weeks
- Redesigned transaction flow with clear security indicators
- Created adaptive interface for different user segments
- Developed educational content and contextual help
- Conducted 10 rounds of usability testing with 100+ users
Development & Launch
8 weeks
- Implemented redesigned interface with security features
- Added educational content and help system
- Conducted beta testing with diverse user groups
- Launched with targeted marketing to different segments
Outcomes & Results
Successfully transformed fintech app into a trusted financial platform by addressing user concerns about security and simplifying complex financial transactions. The redesign enabled mainstream adoption and significant business growth.
+72%
User Trust Score
Increase in trust ratings
+58%
Transaction Volume
Increase in completed transactions
+89%
First Transaction Rate
Users completing first transaction
£2M+
Customer Acquisition
New customer acquisition value
Research Visualizations
Key Learnings
Trust is Paramount in Finance
Trust is the foundation of financial services. Clear security indicators, transparent policies, and user control significantly impact adoption. Users need to understand exactly what's happening with their money.
Simplicity Drives Adoption
Reducing transaction time from 8 minutes to 2 minutes dramatically increased completion rates. Simplicity and clarity are more important than feature richness in financial apps.
Demographics Matter
Different age groups and backgrounds have different needs and mental models. Adaptive interfaces that adjust to user preferences and experience levels improve satisfaction across demographics.
Education Builds Confidence
Providing educational content and contextual help reduced user anxiety and increased feature adoption. Users were more willing to try new features when they understood the benefits.