A single common myth is that you can look at an excellent service, replicate it and instantly achieve the same measure of success. There have been 1000s of unfortunate attempts to duplicate the successes of LendingClub, Wealthfront, PayPal, Credit Karma, Mint, Acorns and Robinhood. Blindly copying financial barrières from a popular service will obviously not work. fintech
The uniqueness and success of the product are determined by quite a few of factors that are not merely related to the design of the interface. That is necessary to understand what exactly is lurking behind this success.
Some of the copy/paste attempts have been truly successful. Yet , if we look better, their founders learned an unique niche, created their own business models and invested considerable effort into product development by moving over from copying to creation.
Design of a digital product involves multiple factors. You should analyze and take into account anything that makes your business and product unique and finally get a long-term competitive benefit.
Of course, the software of popular financial services may become a powerful source of inspiration and a good starting point. This kind of can avoid wasting time at the start, but the interface design is merely a part of the person experience design.
Usually, you need time to try a product to be able to appreciate it. Despite the truth that scanners often see faster results, they are still subject to industry rules. This means that success depends not only on the item but also how so when it is introduced to the marketplace, what support is provided to users, what is proposed by competitors, on what conditions service operates and many other business factors.
Found in addition, you should not forget that UX design is an iterative process, and it does not stop after the system is launched. In the future, the service needs to be optimized and improved upon based on feedback from customers and consumption data. This will take some time, but it is the only way to achieve maximum compliance with market demand.
The most famous internet entrepreneurs on the road to success have spent years setting up, developing, testing hypotheses, fixing mistakes and searching for solutions that are popular.
Our company had a client who developed a very thoughtful and satisfying financial service, however the customers were not ready to pay a high price for it. The founding fathers decided to change the business model by establishing a price that measured on user results, which rocketed the product on to the market.
Naturally, proper architecture and functionality of the product, as well as an user-friendly, user-friendly and attractive interface, raise the user involvement, frequency useful, user satisfaction and the need to recommend it to friends. This will highly raise the likelihood of product success. However, it is necessary to define areas of responsibility, since the design by itself can’t guarantee a working business model and immediate growth.