Financial Services for Millennial Customer
We defined interaction models, user task flows, and UI specifications. Communicate scenarios, end-to-end experiences, interaction models, and screen designs to stakeholders.
Designing the best experiences focused in Financial Services for Millennial Customer.
RESEARCH
Why millennials adopt consumer end fintech solutions
43%
of millennials find that it is easy to set up an account with a fintech mobile app rather than a checking account in a bank. They find the process is easier and faster.
15%
of millennials in the US, UK, Hong Kong, Australia and Singapore find that FinTech startups have more attractive rates than traditional banks primarily related to money transfers.
13%
of millennials find FinTech solutions more attractive because they can access more services “while watching a movie” or “driving” rather than visit a bank.
11%
of millennials are sure that financial technology innovative solutions provide better online experience and functionality and instead of spending time in a banks website providing tons of unnecessary information.
10%
of millennials are sure that traditional banks cannot compete with FinTech solutions regarding quality and 75–80% of millennials are sure that FinTech solutions have better quality than banks.
6%
of millennials consider the products and services of FinTech startups more innovative compared to financial services provided by traditional financial institutions.
Present & Future
The Digital Generation (Gen-D), and especially Millennials, represent technologically savvy consumers who are most accepting of banking innovation and will dominate consumption for decades.
HUGE POTENTIAL
According to the latest consumer research on the Digital Generation done by FICO, while only 2% of Millennials currently have a relationship with a “Digital Bank,” the older sub-segment of Millennials (25-34 years-old), are 2 to 3 times more likely to close all accounts with their primary financial institution than people in other age groups. This propensity is twice as high as only a year ago.
Distinct Millennial Segments
UI/UX Checklist
Competitive Analysis, User stories, User flows, Wireframes, Prototype, UI style Guides, Screen designs, Responsive design.
References
https://www.synechron.com/sites/default/files/white-paper/Financial-Services-for-the-Millennial-Customer.pdf
https://medium.com/@artashesvardanian/6-reasons-why-millennials-adopt-consumer-end-fintech-solutions-ae73a16fb64b
https://thefinancialbrand.com/60500/banking-digital-generation-millennial-fintech
