FinTech is for people, not for robots that crawl for data. Apps should be simple, functional and display all information in a way that can be understood by everyone. Tech-savvy Generation Z and seniors. The art of presenting data to a user should involve fun and user involvement, you want people to actively use the product.
That means eliminating all the noise in data visualization UX and focusing on important elements.
How to achieve that? By realizing how data is displayed in real life. There is a difference between an Excel and FinTech application. The first one is used to gather information and showcase numbers, the second one exists for making life easier for millions of users. Here are data visualization UX best practices as well as some bad data visualization examples.
Table of contents
- Best data visualization UX patterns
- Data visualization UX – best practices for showing information
- Focus data visualization UX on the user, not artificial factors
- Follow the white rabbit, Neo!
- Take control, the strength is in numbers!
Best data visualization UX patterns
Best designs, as always, share common elements. In this case, these are:
- Clarity. The information displayed on a screen doesn’t have elements that don’t belong. If you want to give a user information about the current state of the account, don’t show numbers related to account history or the number of withdrawals in the previous month. Just balance. Unless relations between these numbers are important, which in this particular example would be doubtful, forget about them.
- Color. To differentiate parts of the screen and draw attention to an important part of them at the same time, designers use different things. Different colours, their saturation, even placement on the screen.
- Design logic. Nothing is more important than an overall idea behind data visualization UX. After all, UX stands for “user experience”. If the graphics are well-designed and understood at first glance, then someone did a good job. The user knows where to click or tap, everything is accessible and one action away.
- Hierarchy. Sometimes the amount of information on a given subject is big. The power of FinTech comes from accessibility, not from a Ph.D. required from every user. Showing how the data is organized and why, what numbers are important and stay above others, gives users context.
- Similarity. If some other data provides additional context to something that is displayed currently on the screen, give the user access to it with one tap. The information should not be displayed next to what is currently important but giving context to a number or set of numbers that are on the device right now gives the user additional information.
All those factors give users perspective. Successful data visualization UX is very informative in the first place, giving people the power to make choices based on facts.
Data visualization UX – best practices for showing information
In a traditional model, there are 10 ways to display data: line chart, bar chart, scatter chart, area chart, maps, indicators, pivot tables, bullet graphs, box plot and matrix. In FinTech, designers have to figure out data visualization UX patterns to see how to best take care of a user. All previously mentioned ways are good but too complicated for a mobile screen. After all, this is a base for FinTech.
How to do that correctly, then? In a few simple steps:
- Remove the background by making it one simple surface – white or dark grey. People don’t need ornaments when it comes to data, they need to understand what they are looking at.
- Remove unnecessary labels. Data presented on the screen should be self-explanatory. Adding additional words to them can make people confused. Should I look at the word, the numbers, both? Is one connected to the other somehow? What is more important – the word or the chart? So many questions! Sure, people are not stupid but when looking at something so important as money, especially on the go, there is no room for doubt. Eliminate its sources.
- Use vibrant colours but reduce those which don’t contribute to making a point. Vibrant colours highlight data, many vibrant colours generate confusion.
- Forget about special effects. 3D, shades, shadows, etc. Keep it clean, keep it simple. FinTech is not a Hollywood movie, rather a Hollywood elevator pitch. You have seconds to explain your script to an executive. Either he or she buys it or not. The same goes for FinTech – a user can understand data or not. You have a narrow timeframe to make it happen.
Focus data visualization UX on the user, not artificial factors
Either way, a UX design specialist should always remember a few things. Data visualization UX enables users to take actions based on the displayed information. Since good data visualization, UX patterns are more comprehensible than data, we can say that the best way to drive these actions is through storytelling with data. Don’t show people numbers, tell a story using them.
Users these days are drawn to interactions and something that moves rather than static content. That’s why video format is increasingly important. Translating it into FinTech – users are attracted to multimedia. Charts that can be changed through a single tap, information at a fingertip. This makes people feel powerful and in control of their money. Isn’t that the point of a FinTech as a whole?
Startups often use artificial intelligence to advance their product but have problems when it comes to displaying data to users. Remember that Hollywood analogy? There’s no business like SHOW business. Don’t explain data, SHOW it to them. Don’t worry about the app’s download rate or the number of freshly set up accounts per week. These are important but artificial factors, at least to a point. Worry about the usefulness of the app.
Follow the white rabbit, Neo!
Here are just three examples of how the tips above are implemented into real-life products.
Emma is a good example of a clean user experience interface. Here everything is clean and sorted, with colors to differentiate options. Notice how emojis are used to spark reactions.
Another example is Bundil. This app lets people invest in cryptocurrencies. Displaying their options and digital wallet with different currencies could mean a lot of confusion. But the app is minimalistic and stays true to its branding.
The last example is Chime. Look how simplistic and clear everything looks in here. Every spending category is clearly stated yet super simple to understand.
The ultimate rule for creating the ultimate FinTech user experience doesn’t exist. With our help, you can create a performing product but as you can see, every case is different.
Take control, the strength is in numbers!
Data visualization UX best practices generate better user engagement and decrease churn. The more info your product can give, the more informative decisions out there, made by paying customers. About loans, insurance, etc. FinTech is about serving them. That’s why we believe in FinTech development focused on real use cases and justified business needs. We develop easy-to-scale products that drive user engagement. Take control of your application and add some numbers to your team by hiring FinTech specialists (See more here: Software Team Augmentation Services).