Gone are the days when our wallets had cash. No, we did not burn a hole in our pockets. Instead, we just switched to the digital mode of handling our finances.
Whether making payments or checking our bank balance, we have become habituated to doing it in a few clicks. And that’s the reason the finance apps are among the ones with the highest retention rates.
Besides the utility of fintech apps, retention success also depends on the features they incorporate.
Do you wish to raise the bar with your fintech app? Every user seeks an app that proves to be a go-to solution for all his financial needs and provides a seamless, hassle-free experience.
So here’s what you must have in your app to make it a hit:-
Offer Personalized User Experience
Lately, the clients and users of the finance industry have been demanding personalization, which is an excellent opportunity to form long-lasting connections with them. And there are various options of personalization elements you can add to improve the accessibility and usability of the apps.
Apart from modifying the UX design, you can offer customized menu options and additional appealing features that align with the user’s preferences. It would not only make the banking culture less formal but also personalize the way of financial transactions. Hence offer them as many customization options but to the extent that it does not compromise your branding.
Integrate Artificial Intelligence
Many fintech applications are already riding this boat. So why not ride along instead of staying back?
A significant advantage of AI in fintech apps can be time-saving by automating customer support. While intelligent chatbots handle customer interaction, professionals can invest their time in more complicated and essential tasks, thereby generating favorable ROI with time.
Integrating AI will ensure efficient operations and better customer-centric solutions with cutting-edge innovations.
Data Privacy & Security
Privacy and security are crucial elements that any user looks for in the fintech mobile app. Effective data security measures and adequate compliance will help you gain the user’s trust and prevent your app from getting into legal trouble in the future.
Keep the user authentication process simple, and the regulations explicitly specified so that the process isn’t too overwhelming for the user.
Introducing Multi-Tier Functionality
Multi-tier functionality enables the FinTech apps to offer flexibility and efficiency to the users by working seamlessly between different sessions.
As a result, this helps the users to track and manage multiple activities conveniently and aids fast transactions, which, in turn, increases company sales.
Friction-Free Forms
Form filling is one of the most tedious tasks for a user and one of the prime factors they turn their back on an app if they find it too cumbersome. Would you want to keep filling out forms to complete a task?
So why put your user through similar hassles, especially if the sign-up form is one of the first things they have to deal with right after installation.
To make the new fintech apps popular among the users and get them on board right from day one, make them as easy and friction-free as possible.
Blockchain and Crypto
Blockchain has revolutionized the Fintech industry by becoming a key driver of innovation and bringing immense transparency to financial transactions while reducing time consumption.
Moreover, it validates and records each transaction guaranteeing its authenticity.
Also, since banks or other intermediaries have no involvement, data sharing using blockchain is safe and quick.
Initiating Reward Campaigns
Consistent reward campaigns are one of the best ways to retain users to the FinTech app. Many FinTech apps have already been doing it and have proved that this one feature is unmissable.
After all, who wouldn’t like to earn a few freebies for using referrals and usage rewards in an app?
Offer a User Experience that Helps you Rise Above the Competition
A personalized user journey will ensure a great response from the audience and help you have the edge over your competitors.
Now that you know the features for creating the most engaging apps, implement them in your project to have a successful launch.
Do you have the right partner to develop these features for you?
We do not intend to boast of our expertise, but we have a team with years of experience making the best fintech apps that retain users.
Our team offers flexible reporting that can give you access to the progress and allows you to stay involved in the entire development process, which contributes to your overall profitability.
So if you have an app idea or need ideas to improve your retention rates, let’s connect!
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