5 UX user-centric design principles to enhance mobile banking apps

UX in 2024: a mobile-first user experience

The demand for banking apps has reached unprecedented heights and the number of digital banking users is expected to reach 3.6 billion by 2024. This surge in popularity can be attributed to the immense trust that account holders place in these apps to manage their finances and the convenience of having your bank information always accessible.

As a UX designer, I fully grasp the significance of trust in the realm of digital banking, and, as a user, I like to receive a notification whenever something relevant happens to my accounts.

From my standpoint, good UX is a paramount success factor for all apps. I firmly believe that a seamless and intuitive user experience is critical to how users perceive a banking app as well as their willingness to engage with it actively.

With the rise of mobile-first banking some years ago, financial institutions have been presented with a unique opportunity to completely revamp their mobile user experience and provide customers with a host of new benefits and innovative, memorable experiences. The smartphone is the device that is most emblematic of the ongoing UX revolution.

However, more channels are now involved in many people’s daily financial lives, such as smartwatches or headsets like the recently launched Apple Vision Pro. This panoply of devices has new challenges for UX teams that have to meet the changing needs of end-users and create experiences that can embrace all these devices.

By designing a banking app that excels in user experience, many customers will be drawn towards a more convenient way of banking. However, minor design or usability issues can damage the trust of the consumer of a banking app.

As 2024 goes on, we will see more trailblazing UX innovations as banks respond to a mobile-first world, deliver authentic omnichannel experiences and turn their apps into ecosystems that offer more than just financial services. In this article, I explore some principles related to the user experience of banking apps that can help financial institutions provide a safe, secure, and engaging environment for their customers. 

5 UX user-centric designs to enhance mobile banking apps

User experience must always put the needs of the users first. For example, in recent years, there has been a rise in the popularity of dark modes, which reduce eye strain and help save battery life. Nowadays, there is a growing emphasis on the integration of voice commands and hands-free operations to optimize convenience for users.

To create a positive mobile banking experience, it is crucial to prioritize users at the heart of the design process. UX designers understand the significance of comprehending user behaviors, needs, and pain points. By doing so, we can create a mobile banking experience that genuinely caters to the users' preferences and enhances their overall satisfaction. 

Identifying touchpoints where user experience can be enhanced and streamlined is crucial, as well as designing an intuitive and user-friendly interface that simplifies complex banking processes and minimizes the number of steps required to complete common tasks, such as client onboarding, fund transfers or bill payments.

1. Simplicity and clarity

As a designer, I cannot emphasize enough the importance of straightforward and intuitive interfaces. Considering the intricacy of financial transactions, it is vital to present information in a clear and easy-to-understand manner to prevent any confusion or frustration.

To create a truly inclusive digital banking solution, it is essential to prioritize accessibility for all users and incorporate design elements that cater to a diverse range of users, including individuals from different age groups and varying levels of technological literacy.

2. Security and trust

Banking apps handle a lot of sensitive financial information, which is why the overall design must focus on creating interfaces that communicate a sense of security and trust. While you must always prioritize security standards, the user's preferences must be considered when it comes to delivering secure features without compromising usability. By partnering with the right provider you can achieve this easily. 

ebankIT solution, for instance, enables users to choose their preferred channel for receiving the OTP (one-time password) to validate transactions, automatically filling them when they choose to receive it via SMS. The mobile app allows users to use biometrics to eliminate the time-consuming task of filling in usernames and passwords and offers adaptive authentication that can connect to a rules engine which will only request for authentication when necessary, depending on the risk defined by the bank for the transaction, ensuring a seamless user experience.

3. Personalization

Designers strongly support the implementation of tailored experiences that cater to the unique preferences and behaviors of individual users. By incorporating personalization, it becomes possible to enhance user engagement and create a mobile banking experience that is not only enjoyable but also meaningful for the user.

A good digital banking provider will allow for the personalization of the banking experience by defining settings such as notifications, UI theme, and profile picture, as well as the configuration of the dashboard widgets and favorite transactions, making it easy to tailor the application's main areas to your preferences.

4. Smooth onboarding 

Simplifying the onboarding procedure should be a top priority for financial institutions, as it sets the foundation for a seamless user experience and can boost client acquisition. The user experience of an app can make or break its success, so it's crucial to make a lasting impact in the first moments of contact with the new user.

To optimize the onboarding experience, financial institutions should streamline and make the process as quick as possible by implementing automated KYC processes and ID verification and requesting only the necessary data, which in turn will decrease abandonment rates. At the same time, it’s crucial to integrate humanized technology to provide easy and fast access to human support whenever needed through chat or voice calls.

5. An integrated experience

As customers increasingly access banking services through different devices, it is crucial to provide a synchronized and consistent experience across the various digital channels and physical branches, ensuring that each channel complements the others and is readily available to meet the unique needs of each user at any given moment.

ebankIT moves the banking experience to the next level by seamlessly integrating digital channels, branches, and touchpoints, catering to the ever-changing needs of all banking customers. With its forward-thinking approach, ebankIT creates a cohesive and innovative experience that aligns perfectly with the evolving demands of today's digital-savvy users.