In 2022, with Web 3.0 taking in, it is no longer enough to just keep doing good business. No matter how reputable you are with your audience and customers, you need to take your expansion to the next level. So, not only should your business rearrange its resources to pay a greater point of attention to the online, but also reinforce its focus on the fast-growing competition comprised of both large market players and multiple start-ups that cannot be underestimated.
So how can you take a stronger stand in the online space? Cover your bases with a solid website and expand further with the latest trend of NFTs.

Boosting your business in 2022

Fintech is the driving force behind the entire finance world, stimulating the adoption of new technology. All this is accelerated by high competition among fintech companies making new services appear like mushrooms after rain. Heather Cox, Citi’s Chief Client Experience, Digital, and Marketing Officer, said back in 2015: “People need banking, but they don’t necessarily need banks.” The increasing demand needs to be satisfied, so no surprise the landscape is changing with the growing number of customer-friendly services, while banks are forced to do everything possible to retain customers as it is challenging for them to compete with the startups’ lightweight, precision, tech efficiency, and talents.

So what should a fintech startup take from this? Launching a project, a new company should pay a great deal of attention to the software provider. If you want to keep up with the industry, you need to make tons of changes in your platform, add services, more accessibility, flexibility, and relevance. This is where the wrong software choice can cost you considerably.

But how do you make the right choice at the very start? You can get a reliable assessment of your software choice simply by doing a check against a number of criteria. This article will give a run down on what to keep in mind.

Fintech software development: what to keep in mind

The digital age brings major transformations to all areas inevitably including banking and finance. All financial institutions are now working to implement new technologies to help prioritize customer needs and improve operational processes. The global digital banking market is expected to reach $13.9 billion by 2026, and 80 million people in Europe alone will be banking online by 2023. Not surprisingly, banks are focusing on building strong digital presence.

The question is, how exactly will the digital innovation be achieved in banking? What are the technology financial institutions rely on to provide efficient and seamless online experience for their customers?

Introducing and ultimately replacing traditional banking with online banking poses new challenges, like making this virtual experience intuitive and user-friendly for customers, while ensuring maximum security and maintaining reliable Know Your Customer (KYC) procedures.

Introduction of innovative technologies is also spurred by mass introduction of smart devices and increased connectivity. Consumers no longer tolerate outdated workflows and inflexible procedures and are eager to turn to more technically savvy finance providers. The pandemic lockdowns have more evidently than ever demonstrated the need for highly functional online services.

Why banks and financial institutions turn to digital transformation

Since the Russian invasion, cryptocurrencies have become one of the major and most effective financing channels for Ukraine’s humanitarian and military needs: medicine and clothing, food and water, shelter for refugees and many other necessities. All that needs to be purchased and delivered to Ukrainian cities and it is a priority number one, also complicated by the nearly paralyzed operation of the foreign exchange market.

According to Slowmist analysts, Ukraine has received more close to $100 million in crypto-assets donations as of today.

Various digital-asset based fund-raising initiatives to help Ukraine are launched by the government, private companies, charitable and public organizations, celebrities and just people who care about Ukraine. See the list of verified addresses by analysts.

The Ukrainian bitcoin community has been actively involved in fundraising and helping both the army and citizens since the first days. Here’s how exactly Ukraine get funded to save lives of hundreds of thousands of Ukrainians.

How crypto saves lives of hundreds of thousands of Ukrainians in war

What makes a designer different from an artist? While an artist can step away and enjoy themselves in satisfaction from having created a great visual piece, a designer would know that this is where the real hard work starts. Implementing the design into an actual final product across multiple independent platforms is fraught with a huge amount of work and pitfalls.

With multiple platforms, a complex project may be swamped by tons of code and design elements managed individually for each platform. This can create enough confusion for a single team or even for an individual designer. It can get even more confusing if your project involves different teams, all of which need to work together both on development and maintenance.

This changed with the introduction of design tokens by SalesForce. Today, we’ll talk about design tokens and how they can be used to make design development and implementation processes much easier and more consistent.

Design tokens: what they are and how to work with them

Let’s talk about something seemingly obvious. Who benefits from UX/UI design? You may be surprised to hear the answer, especially considering this to be part of fundamentals of a digital product success.

Many believe that UX/UI is a way to make users happy by helping them achieve their goals. After all, the name ‘UX/UI’ itself focuses on a ‘user’ — so how else can it be, right? Even designers themselves passionately believe in this and rarely miss the opportunity to talk about it. But this misconception comes at a cost to businesses. Let’s look at things as they really are.

UX/UI design is a connecting bridge that helps your business grow by building your brand bright and recognizable, expanding your audience, increasing conversion rate, improving user retention and loyalty, as well as helping you collect and analyze data.

Business goals vs. user goals: four principles for achieving balance in the product

Web is only a small part of the web developer ecosystem, but it is growing, and growing fast. Hence, for those willing to progress, it is a good idea to get a good understanding of the Web 3.0 tech stack, in order to keep their skills relevant and up-to-date. Obviously, one can easily name blockchain and cryptocurrency wallets as part of the stack, possibly, together with distributed storage solutions. So what else do you need to know if you are considering an upgrade of your Web 2.0 skill-set to Web 3.0?

Web 3.0 Stack 101 for Web 2.0 Developers

Today, the term Metaverse is known to so many people that it can be claimed to have reached mass public awareness. This was contributed to by the recent NFT (non-fungible tokens) boom and of course by Facebook’s rebranding to ‘Meta’.

Even though it may seem brand new, the concept has been around for a while. Science fiction is known to anticipate real-life technical and scientific development, and the Metaverse concept was no exception. The term was first introduced 30 years ago is a sci-fi novel Snow Crash by Neal Stephenson. The novel features a virtual 3D world closely intertwined with the physical reality, simulating, augmenting, and even enhancing it. Following that, the idea has repeatedly appeared in pop culture, being most vividly represented in Tron, The Matrix and Ready Player One, not to mention many others. Let’s have a closer look at what the metaverse is.

What is the Metaverse?

Today, more and more companies and developers turn to using blockchain services and platforms for communication with their clientele through decentralized networks. Now that the momentum of these technologies is growing, it is now fairly safe to envision decentralized apps (or DApps) to quite likely gain popularity in the next following years. Right now, crypto industry is yet to witness applications truly ready for mass adoption, which is only a matter of time. This is why it is more than critical to start thinking of the development and implementation of DApps right about now. Those dwelling on the edge of modern technologies are more likely to be in a beneficial position in the competition.

DApps aren’t good enough — just yet…

If you wish an object to catch the eye and be easier to remember, make it to be slightly different from the rest to stand out from the set of other similar objects. This will increase the chances that it will not go unnoticed by your users and that they will remember it. This is due to the isolation effect discovered and described by German psychiatrist Hedwig von Restorff in her studies of the isolation paradigm. Also known as the Von Restorff effect, it explains the distinctive features of an object that isolate it from other objects. These features make users perceive the object differently or, rather, attract more attention to it. These may include size, shape, color, spacing, etc. (A common example in texts is using bold, italics, and underscore.)

How to make individual interface elements more catchy

💻 Interactive Design is a leading provider of design, development & consulting services in blockchain, web3, and fintech fields mainly focused on assisting startups and eco-oriented companies.

🌎 With the 6+ years in the digital business transformation market we cultivated a strong vision toward creation a better version of our future and keep up to it by always staying on the cutting edge of technology year after year.

⚙️ We provide design, development, branding and marketing services along with consulting by relying on the Dedicated Team Model, enforcing our clients` businesses` internal teams or developing the products from scratch.

🚀 Our time-sharpened business processes allowed us to successfully launch 100+ projects improving ourselves during each work cycle, while the very uniqueness of our products is achieved by maintaining the appropriate level of entropy.

📊 Interactive Design remains on a steady streak of active development both as a digital product developer and as a service provider. Join us to achieve the goal together.

Why banks and financial institutions turn to digital transformation

Interactive Design Co.

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