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Money Management App UX Challenges Explained

Pt II – Money Management App UX Challenges Explained

TLDR; The second on a two-part deep-dive focussing on mobile UX design targeting seasoned designer-types, mastering Design Theory, and navigating lean Agile challenges.


Hard Skills:

Design Process

Research & Theory

Visual Design

Soft Skills:

Strategic Thinking

Problem-Solving

Critical Thinking

Full List →


Welcome to Pt II

Real-world app design challenges, by persona

In my previous post (01 Welcome to Pt I; Real-world app design challenges by persona) I detailed why wealth management apps are becoming super relevant and how certain UX designers types experience certain user experience challenges. Let’s move on to our second persona;

Silvr Bank – Europe’s Best Digital Bank*

*Silvr Bank is a fictitious organisation but these are real-world challenges I have experienced in real-world projects with real-world clients.

The overarching goal with Silver Bank* is to design an interface for a thriving Generation X, with an emphasis on growing the fledgling millennial users base i.e mobile-first. The C-level were looking to expand and improve their digital offer on these foundations

3,000 employees | 85 branches | 2nd biggest player in its market

The brainstorming UX Designer

At the kickoff stages this designer is focusing on the ‘what if’, they live their life in the fast lane of UX Discovery workshops and are typically very creative.

Blindly Following a Predefined UX Process

Every design team (or team or chapter) will have their flavour, probably with different names. The skill is to take these stages and adapt the outcomes so your creative and non-creative teams will understand and respond.

Design Thinking 101 – Research, Design, Prototyping, Testing and Measuring (validation) are default to the UX Designers. But do other team members understand or even need these outputs?

The point is, tailor the UX process according to project needs which comprise staple elements such as research, design, prototyping, and testing (validation).

Not Following the Iterative Design Process to Resolve Issues

Successful Agile Mindset – The ‘From’ and ‘To’ concept is familiar in banking UX Design. At MVP stage this pattern could be relatively dry. Using Agile to Iteratively improve the UI and improve the experience with new icons and micro animations to help deliver that delight moment for your users.

It is crucial and all kick-off stages with all new teams to pivot towards an MVP mindset. Here is my take in the ‘Three must-haves’;

  • Clients must have an understanding of the iterative process 
  • Clients must understand developing software within Scrum is not typical to a design agency. No Big-Bang please.
  • A strong UX-er must be able to push-back on customisations that hold little value and only slow down the Scrum Train.

Designing within Scrum has its own challenges, but one of the clear benefits is the ability to ‘go fast’. This speed is only maintained if the core team are synced and understand that fast decision making, a complete understanding of the iterative process and grasping an MVP mindset must all be entrenched.

Confusing signposting – Crazy pop-ups and misunderstood empty states.

If you don’t understand the flow, how do you expect your users to?

Do not implement multiple pop-ups on your landing page. Do guide user with short concise phrases that give state, progress and system status (See: Usability Heuristics: #1 Visibility of system status)

Full Screen Empty States – Clarify your user journeys by offering clean empty state messaging, decode why loading states appear and explain, jargon-free, what are next steps.

The pop-up frequency, relevance, and placement are key factors that make or break your UX;

  • Don’t show multiple pop-ups at once or one after another.
  • Ensure the empty state tone of voice is relevant to the audience and brand.
  • Your pop-ups shouldn’t cover the entire screen. On mobile, your full screen empty state should.

Give your users breathing space to explore. You can then set suitable triggers for pop-ups to appear at the right time under certain conditions.

The UX Consultant on-a-mission

A seasoned veteran

This flavour of UX designer has earned their stripes both at the sharp end running in-house UX teams and blazing a trail as a freelancer. They are typically driven, organised and looking for clients to be the same – so education is centre stage (which brings its own set of problems – see Not Following the Iterative Design Process to Resolve Issues below).

Retail Banking Services

Banks and FI are increasingly integrating money management functionality into their mobile and desktop apps. There is a clear directive to push their customers to use their products, including Card Management and Selection, more actively.

Card Management and Selection – Cards have become a ‘must-have’ feature in modern financial application. Retail Services have responded, and to up’d their offer with effective use of colour, animations and UX patterns. i.e Here we see superuser swipe or mobile vertical scroll

In the western world, 76% of people use mobile banking services. Differentiation, whether that be through the quality of financial advice or expertise of financial service, has to be clear.

Creative font selection can derail already strong UX

Unless you have a solid reason to use a particular font type, stick with web-safe fonts. This is a common misunderstanding when implementing an out-the-box or white label product, as they allow your client to go crazy either with their brand font or one that simply doesn’t work online (or both).

Use your other UX tools to differentiate and stuck with the main players below;

  1. Arial (sans-serif)
  2. Georgia (serif)
  3. Verdana (sans-serif)
  4. Trebuchet MS (sans-serif)
  5. Garamond (serif)
  6. Tahoma (sans serif)
  7. Courier New (monospace)
  8. Times New Roman (serif)

Know Your Users. Know your competition

It would be a mistake to believe that money management applications are exclusively relevant for older adults. In reality, the target demographic for such applications is growing younger. Keep an eye out for millennials who, according to CBInsights, will inherit the largest share of the wealth of any generation – so mobile is absolutely key.

Be conscious of the challenger banks that are making waves and be distinct or what your differentiation actually is, and mobile is leading this charge.

Portfolio on Mobile – Leading the charge for Generation Z – Performance, Allocations through to Valuations all offer feature parity on web and mobile. Although Gen Z are prominently mobile – gear your efforts equally across all platforms to offer the complete package.

My conclusion on app challenges

It’s clear the challenges are many. Whether you’re be UX junior looking to soak-up the World Wide Web of experience or a seasoned veteran looking to fine-tune your UX skills, the key challenges when designing financial money management apps** are;

Not Following the Iterative Design Process to Resolve Issues

Laser Focussed on Design Systems and Best Practices

Blindly Following a Predefined UX Process

**Can be attributed to other domains, of course.

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