As the FinTech industry continues to boom, it’s becoming more and more important for your financial services company to have a strong digital presence.
One key element to creating a successful FinTech product is having a talented FinTech designer on your team to create user-friendly website interfaces and visually appealing designs to showcase your products or services.
But with so many designers out there, how do you know how to hire the right FinTech designer for you and your team?
If you’re scratching your head over that, we’re here to help.
In today’s post, we’ll be providing you with tips and strategies for things you should look for while you search for that perfect FinTech designer to help you take your business to the next level.
FinTech Creative Teams Services: Designer or Developer?
Whether it's a mobile app, a digital platform for credit cards, or a blockchain-based cryptocurrency platform, when it comes to building a FinTech product, one of the first decisions you’ll need to make is whether you need to hire a designer, a developer, or both.
These two roles are crucial to creating a successful product, but it’s important to understand the differences between them and what each of these folks brings to the table before you decide who to hire.
Let’s break down those differences now.
FinTech Product Designer
A FinTech product designer has the skills and experience to create an intuitive UX/UI design solution for your product. Their main responsibility is to ensure that your product or website is intuitive and easy for your target audience to use.
They work closely with your team members to understand user needs so that they can design a product that meets and exceeds them.
Hiring a FinTech designer is just like hiring a UX designer in that they’ll create wireframes and prototypes for your financial services product and then test and refine their design for any bugs, until it has the functionality and ease of use it needs before it goes into development. This is the creative and strategic part of the process and usually happens before any development begins.
FinTech Product Developer
A FinTech product developer is responsible for turning that designer’s vision into a functioning product that does what it’s meant to do.
They have years of experience in coding and programming and they’re ultimately responsible for building your product’s architecture, writing the code, and testing it for any issues that could interfere with the customer experience.
So, yes, both roles are very important for building a successful FinTech product, and it’s essential that you have a team that includes both designers and developers.
When it comes to hiring, however, it’s important to determine what your most pressing need is so that you can find the right person with the right skills and experience to fill that role.
The Importance of Project Management
In the world of FinTech product design, being in regulatory compliance is crucial.
Every detail and every word matters and a misstep with either one can have some serious consequences for you and your business. This is why having a reliable project manager on your team to oversee the creative process is the best way to go.
While you may have been considering a freelancer to design your FinTech product, we have to warn that, while cost-effective at first, it might be an unnecessary risk and cost you money in the long run.
It can be hit-or-miss finding a freelancer who understands the complex finance terms that are critical to your product and the regulatory requirements that are necessary for its success. Throwing someone into a job that they aren’t up to speed on can lead to errors and delays that cost you time and money.
Ensuring quality in FinTech product design requires a lot more than just handing someone your company’s brand guide. It also involves making sure complicated regulatory requirements are met and that’s why having a designer working under the watchful eye of a mindful and experienced Creative Director is the best approach.
Without a dedicated Creative Director, the risks of not meeting regulatory requirements increase, potentially exposing you to fines, lawsuits, and damage to your good name and reputation.
When you factor that in, hiring the wrong designer can be worse than not hiring a designer at all!
This is why it’s essential to hire a designer who understands the unique requirements of FinTech product design and has the skills and experience necessary for working in the industry.
Requirements for a FinTech Product Designer
To keep yourself safe, here are the things you need to look for in your FinTech designer:
1. Experience in the Financial Industry
This one may be a no-brainer, but it’s worth mentioning because of how critical this is to your business.
FinTech designers with long-term experience in the financial industry, such as commercial banks, life insurance and investment banking, or B2B SaaS app design, will have a better understanding of the necessary jargon and the rules and regulations that they must follow.
The right knowledge and experience will help them to create designs that are tailored to your client's needs and made specifically with a good customer service experience in mind.
They’ll also likely have experience working with more complex financial institutions, such as insurance companies, and asset management with more stakeholders and requirements involved.
2. A Relevant Design Portfolio
When narrowing down the right designer, it’s important that you check out their portfolio to see if their style is a match for your company.
No matter how much experience they have, you still want someone whose style and aesthetic aligns with your brand and your product.
Look for examples of work that demonstrate your candidate’s strong UX/UI design skills and their ability to create clean and intuitive interfaces that your clients will love.
3. Strong Technical Skills
When you’re choosing your candidate, you’ll want to look for individuals with experience with these tools and who can work closely with a developer to create a seamless and effective user experience for your customers.
If you’re having trouble finding the right designer, look to web design portfolios that show a solid understanding of user experience and user interface design. The skillset needed to design a great mobile website is nearly the same as is needed to design a mobile app.
4. Good Project Management Skills
As we mentioned before, strong project management is crucial in the FinTech industry to ensure that regulatory requirements are met and that timelines are stuck to diligently.
Look for a designer who has plenty of experience managing projects and who can work collaboratively with other members of your team to create a product that meets your business goals, your user’s needs, and any regulatory requirements you must adhere to.
5. Excellent Communication Skills
This is another one of the reasons why it might not be in your best interest to hire a freelancer for your FinTech product.
Because of their distance, it may be difficult to communicate with freelancers and, especially if you have a freelancer from another country, you may run into language barriers or difficulty understanding complex financial terms in your language of choice.
Because FinTech products require teamwork between designers, developers, stakeholders, and compliance teams, it is mission-critical that the designer you hire is able to effectively communicate.
Look for a candidate who can articulate their design decisions and collaborate easily with others.
Where Can I Find Such a Special Person?
You can look on websites like LinkedIn to find experienced FinTech designers or attend some industry events to find them in their natural habitat.
Alternatively, you might be able to find them right here at Designity.
Designity can offer you a cost-effective solution to creating your FinTech product. Our talent pool is made up of the top 3% of creative talent from across the United States and includes the cream of the crop in FinTech designers and developers, capable of delivering exceptional, high-quality results for your project.
Plus, our experienced and dedicated Creative Directors help you stay in compliance by meeting directly with you during the design process to make sure that they understand any regulations and requirements your project requires and keep you aware of any regulatory red flags that may come up.
They’ll also be your project manager to keep each and every one of your projects managed effectively, on track, and your results are delivered on time.
And with our cost-effective month-to-month plans, we can do it all without breaking your budget.
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The Ball’s in Your Court
Now that you know what you’re looking for, you’ll have everything you need on your checklist to ensure that you hire the right FinTech product designer to help you create a successful product that not only meets the needs of your users but complies with all regulatory requirements.
Remember, the right designer can make all the difference in the success of your FinTech product!
What do you look for in a FinTech product designer?