UX Design For Fintech

These days everyone wants to be a #SuperApp but only a handful have managed to succeed. Those who have share one common denominator: monetization. Let’s see how it can be done. Here is my summary of the most successful strategies: 1.  An ecosystem play – as opposed to providing mere access to an array of different services – with seamless, integrated, end-to-end experience across all aspects of modern life. 2.  #Payments as the undisputed underlying layer that acts as a connecting base for the multitude of offerings on the platform. 3.  A wide range of integrated payment methods catering for different use cases and target audiences (P2P, BNPL, money transfer, instant payments, online payments, QR codes, etc). 4.  Low customer acquisition costs as a direct result of the platform play and then up-selling and cross-selling of high-margin financial offerings (i.e. lending, investment, insurance, e-commerce, digital #banking) and merchant added-value services (i.e. merchant financing, collection technology platform). 5.  #Data as the predominant tool for driving high engagement with tailor-made offerings that transformed how, when and in which context services are offered. 6.  A two-sided consumer and merchant ecosystem with the platform acting as the bridge that not only connects the two sides but fuels growth from one to the other in an open, two-way dynamic relationship. In such a set-up platform engagement (consumer side) enables merchant growth creating a self-reinforcing loop based on high frequency and high repeat rates that lead to consumer stickiness and retention. 7. Software and cloud services to a range of B2B partners (enterprises, telecoms, digital platforms, fintechs), which act not only as a platform amplifier but also as multiplier of customer engagement that unlocks additional customer data points and insights. 8.  A subscription-led ecosystem for merchants: the platform becomes the enabling layer for partners, merchants and other tech providers to accept payments through a wide variety of instruments, including subscription-based models that create permanent revenue and stickiness. 9.  Help merchants drive revenue growth via marketing channels: merchants sell discount deals, gift vouchers and other digital goods like tickets to platform users. 10.  Leverage a network of banks and other FS providers to expand distribution channels. 11.  First-mover integration advantage with the local ecosystem. Paytm was, for example, the first app to launch UPI Lite in India and has subsequently enabled wallet interoperability that allowed full KYC Paytm Wallets to be universally acceptable on all UPI QR codes and online merchants. Opinions: my own, Graphic source: Paytm quarterly reports Subscribe here to my newsletter: https://lnkd.in/dkqhnxdg

FinTech’s next battlefield: Owning the customer relationship, not just the transaction The biggest threat to FinTechs? Becoming just another payment processor, lending engine, or wallet. If customers only see you as a tool, they’ll switch the moment someone offers lower fees. 🔹 Reality check: 78% of consumers say they would leave a financial service provider if another brand understood them better (McKinsey, 2024). 🔹 Fact: Big Tech and banks are both fighting for direct customer relationships—whoever controls the customer experience wins. 🔹 Truth: If your FinTech is just about transactions, you’re disposable. How to Become Irreplaceable in FinTech: ✅ Move beyond the product – Don’t just process payments—own the entire financial experience. Think wealth management, credit-building, financial education. ✅ Build a brand, not just a business – FinTechs that create emotional connections keep customers for life. ✅ Leverage AI & personalization – The future isn’t just data-driven—it’s context-driven. AI can predict spending habits, offer financial insights, and anticipate customer needs before they ask. ✅ Create network effects – Payment platforms are easy to replace; financial ecosystems aren’t. If your FinTech integrates multiple value-adding services, switching costs go up, retention follows. The FinTech winners of tomorrow aren’t just moving money; they’re moving relationships. Customers won’t leave brands they trust, rely on, and identify with. So, is your FinTech a must-have, or just another app in the App Store? #FinTech #CustomerExperience #BrandLoyalty #Trust #DigitalBanking #FinancialTechnology #Brand #Innovation #DigitalMarketing #Technology #Startups #Branding #Investing #Management #Leadership

When I worked on Google Pay, we had the opportunity of having Daniel Kahneman, better known as the author of “Thinking Fast and Slow” advising us. By focusing on creating delight, we outpaced other payment apps with only ¼ the marketing spend, and only ¼ as many features as the competition. Here’s how we did it. Nobody at the time thought of payments as an activity that could be fun, or delightful. It was just something that you had to get done, and be over with as quickly, and cheaply as possible. That’s why all the fintech companies were competing to provide more features, better integrations, lower fees, and faster payments. But eventually, everyone starts hawking the same features, and margins start trending to zero. Worse, Google Pay was a latecomer to the payments space! We had nowhere near the same number of features that other payment apps offered. We knew that we couldn’t possibly compete on rational factors alone. Instead, we set out to design the most delightful payments experience of all. In the words of Marie Kondo, we wanted to create moments that could “spark joy” for users. 𝟭) 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻 𝗔𝗳𝗳𝗲𝗰𝘁 𝗧𝗵𝗲𝗼𝗿𝘆 Unexpected good outcomes feel better to our brains. Each time someone paid with Google Pay, they would get a reward in the form of a virtual scratch card. It would reveal either a variable cashback amount or discounts. We turned payments from a painful, dull activity into a delightful surprise. This not only kept people coming back to Google Pay for the dopamine hits, but they even started creating video tutorials on YouTube to tell people about it. 𝟮) 𝗥𝗲𝗰𝗶𝗽𝗿𝗼𝗰𝗶𝘁𝘆 Payments are embedded within human relationships, like splitting a bill from a night out with friends. People feel obligated to return favors. So, we designed a referral program in which both the referrer and the new user, would get a reward for using the app to make payments to a new contact. Existing users started to nudge everyone in their friends and family circles to start sending money to each other using Google Pay. We turned Google Pay into one of the most prominent mobile payment apps in India, and even other countries like Canada, and the US. I’m trying to do the same for personal finance. Today, tracking your net worth, spending, investments, and planning for certain financial goals is dull, overwhelming, and a hassle. I believe there’s a better way. Why can’t it be as delightful as tracking your workouts, or leveling up a character in a video game? If you’re interested to know more, check out our beta program in the comments below!

I'm excited to share a recent project where I tackled the UI/UX design of a fintech app! The original design, while functional, lacked intuitiveness and clarity, leading to user frustration. Here's a glimpse into the transformation: Before: ↠ Cluttered interface with overwhelming information. ↠ Inconsistent visual hierarchy, makes it difficult to find key features. ↠ Unclear navigation, leading to user confusion. After: ↠ Streamlined layout: prioritize essential information for easy access. ↠ Enhanced visual hierarchy: a clear distinction between primary and secondary elements. ↠ Intuitive navigation: simplified flow for a seamless user experience. The results? ↠ Increased user engagement: Users found it easier to navigate the app and complete tasks. ↠ Improved user satisfaction: positive feedback on the app's ease of use and clarity. ↠ Enhanced brand perception: a sleek and user-friendly design aligned with the brand's vision. This project highlights the power of effective UI/UX design in the fintech industry. By prioritizing user needs and creating an intuitive experience, we can empower users to manage their finances confidently. #fintech #designthinking #uxui #finance #appdesign #userexperience Feel free to share your thoughts and experiences in the comments below! P.S. I am also open to connecting with other design professionals and fintech enthusiasts!

Detecting fraud is no longer just about manual checks; advanced analytics and AI-driven insights allow companies to anticipate risks before they escalate. This shift minimizes financial loss and fosters a data-driven culture of transparency and trust. Behavioral analytics transforms fraud detection by leveraging data patterns, machine learning, and NLP to identify suspicious activities. Unlike traditional rule-based approaches, this method adapts dynamically, learning from transactional and contextual data to detect anomalies. For example, an insurance claim from an unusual location or an inconsistent medical history can trigger alerts. Machine learning refines these insights, reducing false positives while improving accuracy. Ethical considerations remain critical, ensuring privacy and fairness in automated decisions. By integrating analytics into business processes, organizations strengthen fraud prevention, optimize investigations, and protect consumers from financial exploitation. #AI #Insurance #InsurTech #DigitalTransformation

Most SaaS companies focus on acquiring new customers. But the real revenue driver? Retention. - Acquiring a new customer costs 5X more than retaining an existing one. - Selling to a current customer has a 60-70% success rate. - Selling to a new prospect? Just 5-20%. The math is clear: If you’re not optimizing for renewals and reducing churn, you’re burning money. Every SaaS company eventually hits a wall where churn compounds. More customers leave → Higher acquisition needed → Growth stalls. David Skok puts it best: Churn is a leaky bucket. The bigger you grow, the more customers you need just to stay in place. So, how do you plug the leak? 1️⃣ Customer Success > Customer Support Proactive beats reactive. Retention starts before problems arise. - Onboarding, engagement, and expansion must be intentional. - Companies with dedicated CS teams cut churn by 41% in a year. 2️⃣ Measure the Right Metrics Not all churn is created equal. Track: - Customer churn rate → % of customers lost. - Revenue churn rate → % of revenue lost (more meaningful If the contract value varies a LOT!). - Net Revenue Retention (NRR) → Renewal + expansion revenue (gold standard for SaaS growth). 3️⃣ Design for Retention from Day 1 First-session success = Long-term retention. - Groove found that users who spent less than 2 minutes on their first login had a 60% churn rate. - The fix? Optimize Time-to-Value (TTV) to drive early engagement. 4️⃣ Incentivize Longer Commitments Monthly plans = Higher churn. - Annual/multi-year contracts lock in retention. - Offer compelling reasons to commit (discounts, premium features, exclusive support). 5️⃣ Use Behavioral Triggers - Buffer’s re-engagement emails for inactive users led to a 22% churn reduction. - HubSpot's CHI (Customer Happiness Index) predicted at-risk accounts before churn. What This Means for You Retention isn’t a support function—it’s a growth strategy. The best SaaS companies: - Build cross-functional retention teams. - Align Product, Sales, and CS to drive ongoing value. - Treat renewals as a natural progression, not a last-minute pitch. If you solve churn and renewals, you unlock sustainable, profitable growth. How is your SaaS business tackling retention? Let’s discuss. __ ♻️ Reshare this post if it can help others! __ ▶️ Want to see more content like this? You should join 2238+ members in the Tidbits WhatsApp Community! 💥 [link in the comments section]

Transaction Monitoring process in a bank. Transaction monitoring in a bank is a crucial process that involves the continuous review and analysis of customer transactions to detect and prevent financial crimes such as money laundering, terrorist financing, fraud, and other illicit activities. Banks and financial institutions are required by law to implement robust transaction monitoring systems as part of their anti-money laundering (AML) and know your customer (KYC) compliance efforts. These systems help identify unusual or suspicious patterns of activity that might indicate illicit behavior. Here's an overview of how transaction monitoring works in a bank: Data Collection and Storage: Banks collect a vast amount of transactional data from various sources, including customer accounts, wire transfers, electronic funds transfers, cash deposits, withdrawals, and more. This data is stored securely in databases for further analysis. Rule-Based Monitoring: Transaction monitoring systems use predefined rules and scenarios to flag potentially suspicious transactions. These rules are often based on regulatory requirements and internal policies. For example, a rule might trigger an alert if a customer suddenly makes multiple large transactions that deviate from their normal behavior. Threshold Monitoring: Banks set certain thresholds for different types of transactions. If a transaction exceeds a specific threshold, it may trigger an alert. For instance, a large cash deposit by an individual who typically deals in smaller amounts might raise suspicion. Behavioral Analysis: Advanced transaction monitoring systems utilize behavioral analytics to establish a baseline for each customer's transaction patterns. Deviations from this baseline can indicate suspicious activity. Anomaly Detection: Transaction monitoring systems use machine learning and artificial intelligence algorithms to identify unusual patterns that might not be captured by traditional rule-based methods. These algorithms can adapt to evolving tactics used by criminals. Alert Generation: When a transaction meets the criteria of a predefined rule or exhibits suspicious behavior, the system generates an alert. Investigation and Reporting: The compliance team investigates flagged transactions to determine if they are indeed suspicious or if there's a legitimate explanation. They may analyze additional customer information, transaction history, and other relevant data. If warranted, a suspicious activity report (SAR) may be filed with relevant regulatory authorities. Feedback Loop: The investigation process feeds back into the transaction monitoring system. Regulatory Compliance: Banks are subject to various AML and KYC regulations, which include regular audits of their transaction monitoring processes to ensure that they are effectively detecting and preventing financial crimes.

Just observed a subtle yet impactful design choice in super.money's payment flow that deserves attention from Product Managers & UX Designers. As soon as the user starts entering the payment amount on Supermoney, the system instantly calculates and displays the cashback amount right below the amount field. Exactly 4 design principles at play while building such impactful flow ↴ ✅ Immediate Feedback - Nielsen's Usability Heuristics The cashback value of ₹3.15 appears instantly as the user starts typing the payment amount. This eliminates uncertainty & reinforces the incentive in real-time, keeping users engaged. ✅ Contextual Nudges for Positive Behavior By surfacing the cashback dynamically within the same flow, Supermoney nudges users toward completing the transaction with a sense of added value. It's subtle, non-intrusive, yet effective behavioral design. ✅ Progressive Disclosure Instead of overwhelming users with details upfront, Supermoney reveals relevant information, like cashback, precisely when the user is ready to make a decision, keeping the interface clean and focused. ✅ Goal Alignment This interaction aligns perfectly with both user goals (maximizing value) and business goals (increasing transaction conversion). ✅ Emotional Reinforcement Micro-moments like these, where users feel they're "earning" something, drive positive emotions, fostering loyalty and repeat usage. It's a thoughtful design :) #UXDesign #ProductManagement #MobileUX #UserExperience #DesignThinking #ProductManager #ProductDesign #UIUX #Design 

Most companies don’t actually know their customers as well as they think they do. 🤔 In a world where personalization reigns supreme, direct-to-consumer brands have no excuse not to be data-driven. Here's the harsh truth: without deep insights into customer behavior, you're leaving opportunities (and revenue!) on the table. 🚪💸 Let me paint a picture: One of our clients, a fintech company, wanted to boost the adoption of their premium app features. They had amazing functionality, but the uptake just wasn’t there. Using Fivvy, we identified the right users—those already engaging with competitive apps and showing behaviors that indicated premium preferences. The result? An 18% increase in premium feature adoption and 7% less churn in this segment. Here’s the kicker: it wasn’t about spamming all users. It was about precision. Personalized push notifications and targeting worked because we truly knew their audience. 🎯 In the age of abundant data, the winners are the companies that leverage it smartly—not just to sell but to add real value to their customers' lives. What’s stopping your company from becoming truly customer-centric? #CustomerExperience #DataDriven #Fintech #CustomerSuccess #DirectToConsumer #Fivvy

💳 Product Teardown | Day 4 — CRED: Luxury as a Feature CRED didn’t just build a credit card bill payment app — It rebranded financial responsibility into a high-status experience. Let’s break down how CRED turned one of the most boring actions — paying your credit card bill — into a premium lifestyle product 👇 🎯 1. Problem Framing Credit card bill payment isn’t broken — but it’s unrewarding. CRED identified a gap: High-income, digitally savvy users want recognition, not just utility. They flipped the model: Don’t just serve a need — serve an identity. CRED made timely repayment feel aspirational. 🧠 2. Core Product Loops → Pay your bill → Earn CRED coins → Redeem on curated rewards → Stay in ecosystem They layered it with: 📈 Credit score tracking 🛍️ Member-only brand access 💰 CRED Mint (P2P lending) 📄 CRED Pay (D2C checkout) CRED became more than an app — it’s a fintech lifestyle brand. 📱 3. UX Strategy – Dark theme, clean UI, minimal text — evokes exclusivity – Motion-rich interactions to signal polish – Coins, chests, and haptic feedback gamify what’s essentially a utility function – Curated visual language that screams "this isn’t for everyone" UX isn’t just clean — it’s positioning. ⚖️ 4. Strategic Trade-Offs – Strict access barrier (credit score >750) → reduces TAM, increases FOMO – CRED Coins inflation → reduces perceived value over time – Reward dependency → retention is sensitive to incentive structure – Delayed monetization → focus on user graph first, revenue later Every trade-off reinforces one goal: position CRED as elite. 💼 5. Monetization Pathways – CRED Mint → P2P lending revenue – CRED Pay → Merchant fees on checkout – D2C partnerships → Brand access + placement fees – CRED Flash → BNPL product with instant rewards The big bet? Own the financial layer of India’s top 1% — and monetize trust + spending intent. 🧠 PM Takeaway CRED is a case study in brand-led product thinking. It built a wedge into fintech using identity, not need. Instead of "How can I be useful?", CRED asked: "How can I be desirable?" 💬 What’s a product you think nailed premium positioning? Should I break down Blinkit, Fampay, or Jupiter next? #ProductTeardown #CRED #FintechIndia #ProductStrategy #PremiumUX #Gamification #RetentionLoops #PMThinking #BuildInPublic #ProductDesign #BrandLedGrowth #LinkedInNewsIndia #BehaviorDesign #UXDesign