User Experience (UX) and User Interface (UI) of Fintech Apps

S E M I N A R : F I N T E C H S A N D D I G I T I Z AT I O N O F
B A N K I N G
User Experience (UX) and
User Interface (UI) of Fintech
Apps
Otto-von-Guericke-University Magdeburg
Faculty of Economics and Management
Chair of Banking and Finance
Jun.-Prof. Shasha Li
by Asad Ali
Matriculation number: 246094
Course of studies: IMME

Influence of UX/UI Design on User
Satisfaction and Engagement in Pakistani
Fintech Apps
Introduction:
In recent years, Pakistan has witnessed a significant surge in the adoption of financial
technology (fintech) solutions, transforming the landscape of financial services in the country.
With the rapid growth of smartphones and internet connectivity, fintech apps have become
increasingly in demand, offering users convenient access to a wide array of financial services
ranging from digital payments to investment management and lending platforms.
This research seeks to delve into the intricate relationship between UX/UI design and user
satisfaction and engagement levels within the Pakistani market context. By examining the
various elements of UX/UI design, such as accessibility, visual appeal, ease of use, security
features, and personalization options, this study aims to elucidate how these factors
contribute to enhancing or detracting from the overall user experience.
Moreover, with Pakistan's diverse demographic landscape and varying levels of digital literacy
among its populace, understanding the nuances of UX/UI design becomes imperative for
fintech companies seeking to cater to a broad spectrum of users effectively. By discerning the
preferences, behaviours, and pain points of Pakistani users, fintech firms can tailor their UX/UI
strategies to resonate with local sensibilities, thereby fostering greater user satisfaction and
engagement.
We have conducted a survey under this hyperlink (https://forms.gle/joWuDVDApe6ikDeg6) to
have a market understanding on how the consumer of respective applications are
experiencing. This helped us accumulate many factors which are addressed in this report
where we have observed some anomalies with the current user interface.
These applications are tested thoroughly under many QA use cases to validate the aggregate
polls from our audience. By these use cases in hand, we have driven out our methodologies

to provide more extensive and comprehensive solution leading to provide a better user
interface.
Executive Summary:
The idea of this research is to have an in-depth analysis of how the user interface plays a key
role in overall user experience for applications like Sada Pay, Easy Paisa, Jazz Cash and other
similar purpose-driven fintech application.
This report critically examines the impact of User Experience (UX) and User Interface (UI)
design on user satisfaction and engagement within the fintech app sector in Pakistan. Drawing
on comprehensive survey insights, it evaluates major fintech applications, such as Sada Pay,
Naya Pay, Jazz Cash, and Easy Paisa, to determine how design elements contribute to the
overall user experience.
Objective:
The primary objective of this research is to understand the role of UX/UI design in shaping
user satisfaction and engagement levels with fintech apps in Pakistan. This involves analysing
design aesthetics, usability, navigation, and intuitiveness, and their correlation with user
loyalty, satisfaction, and financial empowerment. We have driven down the following set of
objectives we aim to achieve from this analysis.
• Evaluate the derailing UX/UI design trends and practices adopted by fintech apps
operating in the Pakistani market an provide amendable solution against the UI
heuristics.
• Investigate the preferences, expectations, and issue points for Pakistani users/ target
audience regarding fintech app design and functionality through user surveys and
interviews.

• Measure the level of user satisfaction with existing fintech apps in Pakistan, focusing
on aspects such as ease of use, visual appeal, navigation, and overall user experience.
• Examine the factors influencing user engagement levels within fintech apps, including
frequency of app usage, duration of sessions, and interaction with key features.
• Identify and elucidate design elements and features that contribute to enhanced user
satisfaction and engagement in the context of Pakistani fintech apps.
Methodology:
By employing a multi-faceted approach that combines quantitative surveys, qualitative
interviews, app analysis, and usability testing, this research aims to provide a comprehensive
and clear understanding of the complex interplay between UX/UI design and user satisfaction
and engagement in the Pakistani fintech landscape. We have concluded our methodologies in
the following sections.
Insights and Analysis:
Literature Review:
The research begins with a comprehensive review of existing literature on UX/UI design
principles, user satisfaction, and engagement within the context of fintech applications. We
have accumulated the Schneiderman’s heuristics values to work on the UI UX imparity from
the said applications.
User Surveys:
To engage user satisfaction and evaluate the ease of navigation within fintech applications in
the Pakistani market, a structured survey was designed and accumulated to a diverse sample
of users. The survey instrument was developed based on established UX/UI design principles
and relevant literature on user satisfaction assessment.

This survey we got has helped us understand the masses of consumer market to evaluate
better heuristics and solution to improve the statistics across the age groups. This brings us
to further plans to devise for the betterment of user interface and overall experience.
App Analysis:
A systematic analysis of existing fintech apps available in the Pakistani market is conducted
to evaluate their UX/UI design heuristics. This involves examining important features,
navigation flow, visual aesthetics, and usability across a wide range of apps, including mobile
banking, digital payment, investment, and lending platforms. Apps are assessed based on
predefined criteria extracted from the literature review and user feedback.
Usability Testing:
Usability testing sessions were conducted with a sample of participants recruited from the
target user, which were initially considered for our survey as well, to assess the effectiveness
of fintech app designs in real-world usage scenarios. Participants were asked to perform
common tasks within the app while verbalizing their thought processes and providing
feedback on their experience. Usability metrics such as task completion rates, time on task,
and error rates are recorded to evaluate the efficiency and effectiveness of the app design
and its usage.
Data Analysis:
Quantitative data from user surveys and usability testing sessions are analysed using
statistical techniques such as descriptive statistics, correlation analysis, and regression
analysis to identify patterns, trends, and relationships between UX/UI design factors and user
satisfaction and engagement levels. Qualitative data from user interviews and app analysis
are thematically analysed to extract key insights and themes.

Findings:
The key feature from user interviews and app analysis it has been concluded that there are
many aspects of fintech applications in Pakistan that should be considered for the benefits of
the consumer market.
This graph shows the overall standing of our survey market that has been taken in account for
this research process. We have concluded that there is a large audience with high literacy
facing issues with the fintech applications.

Here are the visualizations based on the survey data and their interpretations:
1. Occupation Distribution
The bar chart shows the distribution of our target audience across different occupations. This
visualization helps identify which occupations are more prevalent among the survey
participants, highlighting the diversity (or lack) in the respondents' professional backgrounds.
This survey shows how there is a massive number of employed respondents are included to
have a clearer image of how the usability of these fintech applications are considered.
2. Usage Frequency by Occupation
This stacked bar chart illustrates how often people in different occupations use fintech
applications. It allows us to compare the usage patterns across occupations, identifying which
groups are more likely to use fintech apps frequently versus those who might use them less
often. This insight could be valuable for fintech companies aiming to tailor their products or

marketing strategies to specific professional demographics. We can observe that self-
employed, and private sector employees have a higher margin of usage of these fintech
application daily than other aspects of occupations. There should be more ease to
environment and easier heuristics to help user conclude their day-to-day task much easier.
3. Satisfaction Levels Across Occupations
The bar chart for satisfaction levels of fintech app users across different occupations shows
how content different professional groups are with their most frequently used fintech app. It
highlights which occupations report higher satisfaction levels, eventually pointing towards the
app features or services that replicates well with specific professional groups. Here we can see
even though the daily usage margin for private sector employees is much higher than that of
respondents of other occupations, they seem to be more unsatisfied with their usage of these
applications. Organizations should take this in account and provide more granular analysis on
how to deploy major changes to keep the overall user experience of this set of user group
more flexible.
4. Financial Improvement Perception
The pie chart showing the overall perception of financial improvement among respondents
gives a broad overview of how fintech apps are collected in terms of contributing to users'
financial well-being. It divides the respondents' perceptions into categories ranging from
significant improvement to no change or worsening conditions, providing a snapshot of the
perceived value and impact of fintech applications on personal finances. We can conclude that
there is a higher margin of audience who feel there is no major change in their financial
stability because of these applications, which can be countered by providing some campaign
to promote these audiences and help them be more financial independent from this
approach.

Recommendations:
1. Customization Based on Professional Background
Different professional groups show distinct preferences and usage patterns regarding fintech
apps. It's advisable for fintech entities to adapt their features, services, and promotional
strategies to go together with the typical demands and interests of various professional
demographics. Tailoring functionalities to cater to the different departments of, say, students
versus corporate employees could significantly enhance user engagement.
2. Prioritizing User Interface and Experience
The insights gathered under performs the important role that ease of navigation and aesthetic
appeal play in user satisfaction levels. It is crucial for fintech firms to invest in refining the user
interface and ensuring that the app's design is both appealing and intuitive. Investing input
from a broad user base during the design phase could aid in achieving a more universally
accessible and user-friendly interface.
3. Strengthening Financial Empowerment Features
Users gravitate towards fintech apps in hopes of upskilling their financial standing. To this
end, fintech apps should amplify functionalities that directly helps users financially. This might
centre around a spectrum of tools from budget management and personalized financial
advice to investment avenues and savings strategies, all makes up to be user-friendly for a
common audience.
4. Customized User Journeys Through Data Utilization
Understanding user data responsibly can enable fintech platforms to offer customized
experiences that connects the system more deeply with individual users. This approach could
involve offering bespoke financial insights, recommendations tailored to the user's financial

habits, and content that addresses specific financial goals or challenges, thereby fostering a
more personalized app experience.
5. Implementing Continuous Engagement for Feedback
To remain in tune to the evolving needs and preferences of their user base, fintech platforms
should institutionalize mechanisms for ongoing user feedback. This could range from periodic
surveys and interactive user testing to open forums for feedback, all aimed at gathering
actionable insights for continuous product refinement.
6. Promoting Financial Literacy Within the App
The mixed feedback on financial improvement underscores an opportunity for fintech
platforms to double down on financial education initiatives within their ecosystems. Providing
educational content and resources that demystify financial concepts and equip users with the
knowledge to manage their finances effectively can significantly enhance the app's value
proposition.
Conclusion:
In conclusion, this research underscores the critical role fintech applications play in today's
digital-first financial landscape, highlighting the diverse usage patterns, satisfaction levels,
and perceived financial benefits across different professional demographics. By adopting a
user-centric approach that emphasizes customization, intuitive design, financial
empowerment, and robust support systems, fintech companies have a significant opportunity
to deepen user engagement, enhance financial literacy, and foster a more inclusive financial
ecosystem. Through continuous innovation and a commitment to addressing the nuanced
needs of their user base, fintech platforms can not only elevate user satisfaction but also
contribute meaningfully to the financial well-being of individuals across various sectors. This
research offers actionable insights and recommendations that, if implemented, could
redefine the value fintech applications deliver, marking a pivotal step towards achieving more
personalized, empowering, and user-friendly financial services.

References:
1. Budiu, Raluca. "User Experience for Mobile Applications and Websites." Nielsen Norman
Group, 2020.
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Crisis Paradigm." University of Hong Kong Faculty of Law Research Paper No. 2015/047,
Georgetown Journal of International Law, 2016.
3. Lusardi, Annamaria, and Olivia S. Mitchell. "The Economic Importance of Financial Literacy:
Theory and Evidence." Journal of Economic Literature, 2014.
4. Kumar, V., & Pansari, A. "The Construct, Measurement, and Impact of Customer Engagement:
A Marketing Perspective." Customer Needs and Solutions, 2016.
5. Gomber, Peter, et al. "Fintech and Financial Innovation: Drivers and Depth." Financial Markets,
Instruments, and Institutions, vol. 27, no. 3, 2018.
6. Philippon, Thomas. "The Fintech Opportunity." National Bureau of Economic Research,
Working Paper 22476, August 2016.
7. King, Brett. "Bank 4.0: Banking Everywhere, Never at a Bank." Wiley, 2018.
8. Schueffel, Patrick. "Taming the Beast: A Scientific Definition of Fintech." Journal of Innovation
Management, vol. 4, no. 4, 2016, pp. 32-54.
9. Zavolokina, Liudmila, Mateusz Dolata, and Gerhard Schwabe. "FinTech Transformation: How
IT-Enabled Innovations Shape the Financial Sector." Enterprise Modelling and Information
Systems Architectures, vol. 12, no. 1, 2017
10. Lee, In, and Yong Kyu Lew. "Innovations in Finance: From Deregulation to FinTech." Financial
Innovation, Springer, 2018.

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