Market Overview:

UX/UI is a trending software, which is used for providing better interface for smooth navigation in mobile apps. Apps in Fintech are especially in need for better customer experience. The major Trending technological advancements like Augmented Reality (AR) Virtual Reality (VR) Voice UI and AI technology etc. made it accessible. Major companies operating in micro lending loan apps has a great optimization features for UX/UI, which are much, needed like user-centered design etc.

Adherence to UI/UX laws and principles is strongly recommended. Here are three essential laws: Hick's Law: Simplify the user interface and reduce decision-making time by limiting the number of choices available. Fitts's Law: Design interactive elements in a way that gives ease of use, considering factors such as size and distance, to enhance user interaction. Goal Gradient Effect: Leverage the psychological tendency for users to be motivated by nearing completion to encourage engagement and progress within the app.

UX/UI Survey Analysis

The major growth factors of UX/UI market are the heavy demand of users on types of enterprises like small, medium and big. Between 2021 and 2022, there were ~34 million more internet users in India.

The second-largest IM service users and the most significant social media users worldwide are found in India.

Apps like True balance has been in demand for simple personal loans for small amount. India has emerged as the world's third-largest fintech market.

Competitive Landscape:

At present, over 2,200 companies are operating in the fintech segment in India. Companies offer customers the easy acess for personal loans by applying on their respective apps. Companies usually took keen interest in betterment of UX/UI softwares in their apps. Apps like Kreditbee, CashE, StashFin and True balance. Majority of the Micro lending Loan App companies are majorily working on their UX/UI lookout. The True Balance app received better average rating for visual appeal, indicating that respondents found its design and interface to be pleasing. Other apps like Kreditbee and StashFin are also working for better customer base.

Recent Developments:

Trending technical upgrades is making UX/UI easily accessible and in making smooth interface. Like in AR is a great start. Using body and face tracking, as well as advanced scene depth sensing, companies are already working on camera filters that accomplish this.

Also, Artificial intelligence powers facial and spatial recognition software needed for AR to function. AR and AI solutions can work together to provide innovative solutions.

Major micro loan providing players are doing surveys of various customers, which are users of various loan apps for better quality of feedback on which they could work on in the future.