- Simplify complex financial concepts:

UX design can simplify concepts by presenting them clearly and understandably. It can include charts and graphs to show how investments perform over time and explain investment terms clearly. By simplifying complex financial concepts, customers can feel more confident in making investment decisions and will be more likely to continue using the application. The real-life issues investors face while using the applications are

• Technical jargon and complex financial terms can be difficult to understand.
• Investors may lack knowledge about different types of investment products and their associated risks.
• Investment concepts such as asset allocation, diversification, and risk management may be difficult to grasp for novice investors.

- Smooth customer experience:

Personalization is critical to delivering a great customer experience. By personalizing the app based on the customer's investment goals, risk tolerance, and portfolio performance, investment apps can create a tailored experience for each customer. It makes the app more intuitive and helps build customer trust and loyalty. The real-life issues investors face while using the applications are

• Lengthy application processes and complex account opening procedures can lead to customer frustration.
• Poor website design or slow loading times can impact the customer experience.
• Difficulty in finding relevant information or navigating through the website.

- Streamline Onboarding:

A streamlined onboarding process is crucial for new users to understand how to use the investment app. The process should be simple, straightforward, and easy to follow. By providing clear instructions, helpful tips, and visual cues, investment apps can create a smooth onboarding process that gets users up and running quickly. The real-life issues investors face while using the applications are

• The need to provide extensive documentation and personal information during the account opening process.
• Different onboarding processes for different types of investment accounts.
• Lack of automation in the onboarding process leads to delays and inefficiencies.

- Intuitive navigation:

Investment apps should be easy to navigate, allowing customers to access the necessary information quickly. Customers can easily find what they want using a simple, intuitive interface and complete tasks without frustration. It enhances customer satisfaction and increases the likelihood of customers returning to the app. The real-life issues investors face while using the applications are

• Limited search functionality, making it difficult to find specific information.
• Confusing information about schemes and asset management companies on the website.
• Poor mobile app design or functionality, leading to a negative customer experience.

- Seamless integration with other services:

Investment apps seamlessly integrating with other financial services can provide customers more complete and convenient experience. For example, customers can easily link their bank accounts to the investment app, transfer funds, or track expenses. By offering these additional features, investment apps can become a one-stop shop for customers' financial needs. The real-life issues investors face while using the applications are

• Difficulty integrating with third-party financial services, such as banks or brokerage accounts.
• Limited investment options or services, resulting in investors needing multiple platforms.
• Technical integration issues with other services lead to investment transaction delays or errors.

- Security and data privacy:

Investment applications should have robust security measures such as two-factor authentication, data encryption, and regular security audits to address these concerns. The application should also have clear and transparent policies on collecting, storing, and using customer data. By prioritizing security and data privacy, investment applications can build customer trust and help them feel confident using their platform. The real-life issues investors face while using the applications are

• Risk of data breaches and theft of personal and financial information.
• Lack of transparency around data collection and sharing practices.
• Regulatory compliance requirements for handling sensitive financial information.

Key takeaway points:

• Prioritize customers' experience and make the investment process more user-friendly by investing in UX design.
• User research can help identify customer needs and preferences to tailor the customer experience and improve satisfaction.
• Simplifying complex financial concepts by presenting them clearly and understandably can increase willingness to use the app.
• Personalizing the app based on the customer's investment goals, risk tolerance, and portfolio performance can help build customer trust.
• A streamlined onboarding process that is simple, straightforward, and easy to follow can help customers understand how to use the investment app.
• An easy-to-navigate interface and completing tasks without frustration can increase the likelihood of returning to the app.
• Seamless integration with other financial services can provide customers with a complete and convenient experience.
• Prioritizing security and data privacy can build customer trust and help them feel confident using the app.

Conclusion

Standing out from the competition is crucial in a world with endless investment options. Investment apps face various usability problems that can cause potential customers to drop off, including complex verification processes, poor feedback messages, document upload, video KYC verification, lack of notification automation, unclear onboarding process, poor customer support, technical issues, and confusing languages. By addressing these customer pain points and enhancing the customer experience, investment apps can increase customer satisfaction, build trust, and create long-term success.

If you are interested in learning more about investment apps or want to discuss designing and developing an investment app, please fill out our contact form. Our team has 10+ years of combined experience designing investment apps and can help guide you from scratch to delivering a unique digital product. So, don't wait any longer, and contact us today to create a winning investment app!