How UX Writing Reduces Churn in FinTech

How UX Writing Reduces Churn in FinTech
Photo by Kelly Sikkema / Unsplash

FinTech is constantly evolving, and customer expectations are rising. To stay ahead of the curve, FinTech companies need to focus on providing a seamless and user-friendly experience. UX writing is a key component of this, as it can help to make financial services products and services more understandable, engaging, and persuasive.

What is UX Writing?

UX writing is the art of crafting clear, concise, and persuasive copy that helps users understand and interact with a product or service. It is a critical part of the user experience (UX) design process, and it can have a significant impact on the success of a product or service.

In FinTech, UX writing can be used to improve the customer experience in several ways. For example, UX writing can be used to:

  • Make financial services products and services more understandable. Financial products and services can be complex, and UX writing can help to break down complex concepts into easy-to-understand language. For example, a bank might use UX writing to explain the terms of a credit card offer in a way that is clear and concise.
  • Make financial services products and services more engaging. UX writing can help to make financial services products and services more engaging by using clear and concise language, as well as by using storytelling and other techniques to connect with users on an emotional level. For example, an insurance company might use UX writing to tell the story of a customer who was saved by their insurance policy.
  • Make financial services products and services more persuasive. UX writing can help to make financial services products and services more persuasive by using persuasive language and techniques. For example, a financial advisor might use UX writing to convince a customer to invest in a particular product.

How UX Writing Can Improve Customer Experience

There are several ways that UX writing can improve the customer experience in financial services. Here are a few examples:

  • Increased customer satisfaction. When financial services products and services are easy to understand and use, customers are more likely to be satisfied with their experience. This can lead to increased customer loyalty and repeat business.
  • Reduced customer churn. When customers are satisfied with their experience, they are less likely to churn. This means that financial services companies can save money on customer acquisition costs.
  • Improved brand reputation. When financial services companies provide a positive customer experience, they build a positive brand reputation. This can lead to increased sales and market share.
  • Increased revenue. When financial services companies improve the customer experience, they can increase revenue. This is because satisfied customers are more likely to do business with the company, and they are also more likely to recommend the company to others.

Examples of Powerful UX Writing in FinTech

  • Capital One uses UX writing to make its credit card offers more understandable and engaging. For example, Capital One uses plain language to explain the terms of its credit card offers, and it uses storytelling to connect with users on an emotional level. As a result of these changes, Capital One saw a 10% increase in credit card applications.
  • Ally Bank uses UX writing to make its banking website more user-friendly. For example, Ally Bank uses clear and concise language to explain its banking products and services, and it uses helpful tips and advice to help users get the most out of their banking experience. As a result of these changes, Ally Bank saw a 5% increase in online banking transactions.
  • Charles Schwab uses UX writing to make its investing platform more intuitive and user-friendly. For example, Charles Schwab uses clear and concise language to explain its investment products and services, and it uses helpful tools and resources to help users make informed investment decisions. As a result of these changes, Charles Schwab saw a 3% increase in new investment accounts opened.

Increase your revenue with user-first UX Writing

If you are a financial services company that is looking to improve the customer experience and grow revenue, contact us today.

WDIR is a leading UX writing agency with experience working with Fortune 100 companies and FinTechs alike. We're experts in crafting user-first UX Writing that creates trust, increases retention, and grows revenue. Get started today!