Dublin, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The "Consumer Survey Analysis: Revolutionizing User Experience" report has been added to ResearchAndMarkets.com's offering.
The field of UX/UI (User Experience/User Interface) design is currently a prominent trend in software development, particularly for mobile apps. It plays a crucial role in enhancing the user interface for smooth navigation, and it is especially essential for applications in the Fintech sector. Major technological advancements, such as Augmented Reality (AR), Virtual Reality (VR), Voice User Interface (UI), and AI technology, have made significant contributions to the accessibility of these design principles.
In the Fintech industry, mobile apps are in high demand, and providing a better customer experience is a priority. The optimization of UX/UI features, including user-centered design, is crucial for success in this sector.
There are essential laws and principles in UI/UX design that must be followed for a better user experience:
- Hick's Law: This principle suggests simplifying the user interface and reducing decision-making time by limiting the number of choices available. By presenting users with fewer options, it becomes easier for them to make decisions.
- Fitts's Law: Design interactive elements in a way that provides ease of use, considering factors such as size and distance. This enhances user interaction and navigation.
- Goal Gradient Effect: Leveraging the psychological tendency for users to be motivated by nearing completion can encourage engagement and progress within the app. By indicating progress or completion, users are more likely to stay engaged.
UX/UI Survey Analysis
The growth of the UX/UI market is driven by the high demand from users across various types of enterprises, including small, medium, and large businesses. In India, the number of internet users increased by approximately 34 million between 2021 and 2022, highlighting the growing digital landscape.
India boasts the second-largest instant messaging service user base and the largest social media user population globally. This large user base presents a significant opportunity for Fintech apps, such as those offering personal loans, to enhance their UX/UI.
Apps like True Balance, which offer simple personal loans for small amounts, have gained popularity in India. The country has emerged as the world's third-largest Fintech market.
Competitive Landscape
The Fintech segment in India is highly competitive, with over 2,200 companies operating in this space. These companies offer users easy access to personal loans through their respective apps. Many of them are focusing on improving their UX/UI software to attract and retain customers. Notable apps in this sector include Kreditbee, CashE, StashFin, and True Balance. The majority of micro-lending loan app companies are prioritizing the enhancement of their UX/UI.
In terms of user feedback, the True Balance app has received a better average rating for visual appeal, indicating that users find its design and interface pleasing. Other apps, such as Kreditbee and StashFin, are also working on improving their customer experience to expand their user base.
Recent Developments
The latest technical upgrades are making UX/UI more accessible and contributing to smoother interfaces. AR is an exciting area of development, with companies working on camera filters that use body and face tracking, as well as advanced scene depth sensing.
Artificial intelligence is playing a significant role in facial and spatial recognition software, which is essential for AR applications. AR and AI solutions are increasingly working together to provide innovative solutions.
Major players in the micro-loan industry are actively conducting surveys among their customers who use various loan apps. This feedback is invaluable for improving the quality of their services in the future.
Key Topics Covered
1. Executive Summary
1.1 Executive Summary: True Balance UI/UX Project
2. App Overview: KreditBee, True Balance, CASHe, and Stashfin
2.1 Overview of Kreditbee and True balance (Ratings, downloads, reviews, rankings, and Highlighted features of the apps)
2.2 Overview of Stashfin and CASHe (Ratings, downloads, reviews, rankings, and Highlighted features of the apps)
3. Survey Findings: Insights on the KreditBee, True Balance, Stashfin, and CASHe App
3.1 Insights on KreditBee and True Balance (Frequency of app usage, Visual appeal of the app, Content loading speed, Experience of bugs or glitches, User-friendliness, etc.)
3.2 Insights on Stashfin and CASHe (Frequency of app usage, Visual appeal of the app, Content loading speed, Experience of bugs or glitches, User-friendliness, etc.)
4. UI/UX Audit and Competitive Analysis
4.1 UI/UX Audit on 8 Different Parameters
4.2 Competitive Analysis on 9 Different Parameters
4.3 Comparison of Visual Appeal Across Four Apps
4.4 Best UI/UX Practices by KreditBee, Stashfin, and CASHe
4.5 Suboptimal UI/UX Practices by KreditBee, Stashfin, and CASHe
5. Key UI/UX Recommendations for True Balance App
5.1 Key Recommendations Parameters to Optimize True Balance UI/UX for a better User Experience
5.2 User-Centered Design and Visual Hierarchy
5.3 Navigation and Information Architecture and Simplicity and Minimalism
5.4 Recommendations, User Guidance and Accessibility and Inclusivity
6. Subjective Interview Findings and App Glitches/Errors and Essential Principles and UI/UX Theories to Consider
6.1 True Balance App Glitches/Errors
6.2 Hick's Law
6.3 Fitt's Law
6.4 The Goal-Gradient Effect
7. Research Methodology
7.1 Market Definitions and Assumptions
7.2 Survey - Steps Involved in Conducting Survey
7.3 Survey - Research Approach
7.4 Sample Questions - Survey
A selection of companies mentioned in this report includes:
- True balance
- Kreditbee
- CashE
- StashFin
For more information about this report visit https://www.researchandmarkets.com/r/pt9biw
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