Custom web design for the financial industry requires the utmost care, as it deals with users' sensitive data. A company providing financial services must instill confidence in its reliability right from the start or, should we say, at the first sight. Research by Soomin Ryu and Lu Fan, titled “The Relationship Between Financial Worries and Psychological Distress among US Adults” highlights that financial concerns can be a significant source of stress, potentially leading to mental health issues. This underscores the importance of meticulous attention to quality in financial services web design.

In this article, we'll have a look at the general principles in designing financial websites, then see how companies can stand out among the competitors while still adhering to web design standards. We will then discuss the problem of website redesign and how it's connected to the younger generation of customers and their requirements.

Principles of financial services website design

No matter what industry a custom website design company serves, there are general web design principles that any UI/UX design services provider should follow. Moreover, for an eye-catching website, there are psychological tricks in design that help retain users. We'll examine these principles, illustrating them with financial services website designs.

Clear navigation

A financial website should have clear messaging so that users don't feel overwhelmed when searching for a specific financial service. Every element of the interface, such as headlines, buttons, calls to action, and more, should use familiar words and avoid professional jargon.

Clarity in a finance website extends to even small details like the type of scrolling. For example, people are more accustomed to vertical scrolling than horizontal scrolling. Therefore, web design elements containing important information shouldn't be hidden behind horizontal swipes. It's best to avoid horizontal scrolling altogether unless elements pop up automatically when a user scrolls down.

Fast loading

Another important aspect of financial website design is load time. It shouldn't take long for pages to load. If pages have a slow load time, users might perceive the financial service as unreliable, reflecting the website's poor performance. You might wonder how finance website design relates to this. The answer lies in optimizing images and graphic elements for fast loading.

User-centered design

Creating a user-centered financial services web design means prioritizing user needs. This involves incorporating common design patterns, focusing on ease of use for visitors, and designing with accessibility in mind. When it comes to design patterns, professionals typically adhere to Human Interface Guidelines and Material Design Guidelines. These guidelines help users navigate through interface elements, making them familiar and intuitive.

One example of making usage easier is mobile optimization. A majority of users access the web through their smartphones. Regarding accessibility, guidelines like WCAG (Web Content Accessibility Guidelines) help make finance websites accessible for people with disabilities. These guidelines include recommendations for color contrast, text size, and keyboard navigation.

Psychology of perception

There are several psychological principles that designers use to improve the structure and comprehension of information within web design.

Gestalt principles

This is one of the principles of human visual perception that states we tend to perceive elements in groups, not in isolation. This means that related objects should be grouped together in a financial website layout.

In the example below, you can see how we combined the elements of the wealth management dashboard using color and framing. The screen is separated into black and white parts. The elements of the finance website are highlighted with rounded square frames and further color coding: yellow, mint, and a lighter shade of black.

Law of Prägnanz

This law, also known as the law of good figure, is one of the principles of Gestalt psychology. It states that people prefer to perceive objects in their simplest form. This is often illustrated by the Olympic Games' logo, which people perceive as overlapping circles rather than curved lines.

In the context of website design, this principle means that it is better to use simpler shapes, clear lines, and ample white space to ensure objects are easily readable.

Von Restorff affection

The Von Restorff effect, also known as the isolation effect, states that among similar objects, the one that is different is more likely to be remembered. This means that when creating a financial website design, if you want to draw users' attention to specific information, you should differentiate its design from surrounding content.

Contrast and emphasis

Contrast and emphasis are also associated with the Gestalt principle of figure-ground. Separating the figure from the ground is the basic principle that helps us define objects. Thanks to this cognitive function, a website visitor immediately defines the borders of the banking app illustrated on the right side of the screenshot below and recognizes the buttons in the left lower corner and the log-in button. By adding contrast and emphasis to certain elements in web design, we can seamlessly inspire users to take actions.

Hick-Hyman law

Increasing the number of choices increases the time it takes to make a decision. This means that when designing custom website elements like menus or filters, designers should reduce the number of similar options as much as possible.

Fitts's law

This law is used in the description of human-computer interaction. It states that the time required to move to a target area depends on the distance to the target and the size of the target. In simpler terms, if you wish website users to click a button faster, make it a reasonable size.

Miller's law

Miller's law, a psychological principle, states that the average person can only hold approximately seven pieces of information in their working memory at any given time. In financial website design, this law is crucial because it helps users navigate a complex field without unnecessary stress.

Peak-and-end rule

The peak-and-end rule, originally proved in the measurement of an experienced pain in the medical setting, has gained popularity in other fields, including user experience design. It states that the memory of an experience is shaped by emotions at its peak and its end. For example, this means that a financial service process should provide pleasant emotions at its peak and have a memorable closure.

How to make a website design effective

We've described the basic tips leading to a well-designed financial website. However, making a good website design is one thing; making it reach the right audience is another. There's no one-size-fits-all approach in this case. The style of web design heavily depends on the purpose.

Minimalist web design

A website' design doesn't always need to be colorful and decorated to keep users engaged. For example, a financial advisor website might have a minimalist and strict design, as it helps users find specialists, manage finances, quickly transfer money, or track their stats. An app for managers in the financial industry might be even simpler, with no decorations, creative color decisions, and a focus on pure functionality.

Gamification and animation

If the purpose of web design is to promote a new service or attract new customers, a financial organization might create an animated landing page or a full web app with gamification. These might be temporary campaigns that need to be highly engaging and thus use all design capabilities to capture customers' attention.

Actually, there's a current trend towards businesses with a human face, which means we might soon see engaging interfaces even on central banks' websites.

Scaling up

Financial industry marketing is becoming increasingly creative. To stay ahead, institutions are not only offering services but also emotions, scaling up to become more than just banks. They are transforming into magazines, community hubs, shops, and more. This scaling helps reach a wider audience, who may not be initially interested in professional services. However, they might be drawn in by the information provided on the website and eventually invest in the company's financial services, becoming loyal customers.

Naturally, multifaceted solutions that cover different aspects of their customers' lives require creative and differentiated web design approaches.

Why is it important to redesign old websites?

It would be ideal to design a product that would never become outdated, however, no website can achieve this. Compare modern financial websites to their counterparts from ten years ago, and you'll be struck by the dramatic changes. Just like any visual system, be it fashion or graphic design, website trends respond to innovations and evolving user expectations.

In the past few years, PayPal wasn't the only company to redesign and rethink its brand. Among financial corporations that invested in design were Chime, Goldman Sachs, Wise (formerly TransferWise), Square, Vanguard, Synapse, and Brex. All these cases share a common thread: moving towards intuitive interfaces, mobile optimization, enhanced aesthetics and branding, and simplified navigation. These are compelling reasons for a financial services website redesign.

Another significant factor driving redesigns is the increasing number of Gen Z customers using financial services. Both millennials (born 1981–1996) and Gen Zers (born 1997–2012) are more active users of digital products than previous generations, which means they have higher expectations. Research by eMarketer shows that these two generations prioritize the quality of banking applications and prefer to try out an app before downloading it.

Ogilvy research reveals that while millennials and Gen Zers (43%) acknowledge the importance of proactive financial planning, a whopping 79% of Gen Zers want brands to prioritize personalization, wealth management education, and loyalty programs. Meanwhile, 42% of Gen Zers believe that financial institutions don't care about their financial future, with 25% stating they don't feel valued as customers due to their perceived low earning capacity. This highlights the need for financial businesses to build trust with their new customers as this tech-savvy generation will soon become a substantial target audience. Chime, with its website redesign, has already embraced this approach. They've not only introduced a new design but also started explaining finances to the younger generation through their articles.

Financial services website design for Gen Z

If businesses don't meet this demand for sincerity, people will not support them. We've already seen the extreme side of this with brand cancellations, and we can expect to see more in the future. This trend of prioritizing values isn't limited to retailers or fashion brands; it extends to the financial sphere as well. If a banking account doesn't align with a user's vision, they will easily switch. A recent observation by Chime reveals that 25% of Gen Z adults are planning to open a new bank account within the next 6 months.

So, how can financial services gain the trust of these upcoming generations through website design? Here are a few tips that resonate with Gen Z expectations.

Focus on values

In a 2022 Forbes article by Jane Hunson, she interviewed members of Gen Z. They revealed that when choosing a brand to support, their preferences extend beyond convenience and profit; they prioritize values. Customers have become more mindful of the impact of their choices and purchase decisions.

When designing a website, consider how your financial services genuinely help people and visualize this in a friendly and welcoming way. Don't hesitate to boldly state your values, but only if you genuinely support them.

Be helpful

As previously stated, this generation has a significant demand for financial literacy resources. This means that designers should prioritize creating the most helpful interfaces possible. Users need to clearly understand the flow of their funds and access essential financial statistics. For example, when designing a financial dashboard, let users easily see their financial movements and relevant data.

There are several ways to enhance user experience through interactive tutorials, guides, personalized financial planning tools, and community features within financial services platforms. Interfaces should also incorporate clear and concise user experience writing, which is essential for guiding users through the platform.

Be authentic

Building trust requires a strong visual identity. Websites should reflect Gen Z experiences by showcasing diverse and relatable imagery. While clarity demands minimalist and simple design, using vibrant colors and bold typography can inject personality while maintaining professionalism.

Add personalization

Research conducted by PwC in 2022 revealed that 37% of millennials and 41% of Gen Z are willing to share their interests, habits, and preferences in exchange for more personalized experiences. This trend highlights the growing demand for tailored interactions across various platforms.

Website design can effectively incorporate personalization through features like dynamic images and adaptive interfaces that change based on user actions. This can create a more engaging and relevant experience for each visitor. Beyond visual elements, personalized recommendations and targeted ads can further enhance the user journey of website design.

Building communities around shared interests and offering tailored content within those communities can foster a strong sense of belonging and personalization. This approach allows users to connect with others who share their passions while receiving relevant information and resources. Robinhood is a prime example of a website that successfully implements personalization. They offer a podcast about investments, deliver personalized content, and maintain a fun thought-out website design.

By prioritizing these elements in website design, financial institutions can move beyond outdated models and connect with Gen Z on their terms, building lasting relationships and securing a future-proof customer base. This generation's desire for a transparent, ethical, and engaging financial experience presents a unique opportunity for brands willing to embrace change.

To sum up

A good website design is always a balance between time-proven practices and openness to new. Clear navigation, fast loading times, and user-centered designs are fundamental requirements that ensure functionality and satisfaction. It's also crucial to consider the evolving needs of different user demographics, especially with the rapid rise of Gen Z consumers.

As technological advancements and user expectations grow, financial institutions must be willing to embrace change through periodic website redesigns. This adherence to modern design trends, such as minimalism for functionality and gamification for engagement, will not only enhance usability but also distinguish financial platforms in a competitive market.

Moreover, by focusing on values, helpfulness, authenticity, and personalization, companies can build stronger connections with their user base, particularly with younger, tech-savvy generations.

If you need a hand with designing your financial website or implementing interactive features, our design team is here to help. We offer a wide range of design services, from creating your logo to fully redesigning your website, including adding 3D illustrations and creative animations if needed. Simply contact our managers, and we'll find the best way to innovate your website.