fintech apps for Gen Z

Building fintech apps that will meet contemporary users’ needs and expectations is impossible without knowledge of who they’re, and what they’re driven by. Let’s take Gen Zers, for example. Who are they? The digital-savvy people that made technology an integral part of their daily life. What are they thrilled with when we speak about software? Personalized UI, variety of payment options, educational guidance, transparency in UX, and smart interactive features. See? Now you already know what to start with, but don’t hurry up.


That’s definitely not all you need to be aware of to start your Gen Z fintech project. But worry not, we’re here to get you through the basics of Gen Z Marketing 101. Stay tuned!


Importance of targeting Gen Z in fintech app development


Though you might be surprised by the idea of building fintech apps for Gen Z, it won’t be the case after we’ll explain it to you. 


  1. Gen Z users, or those who are born between 1997 and 2012, are the largest market segment willing to solve their financial challenges online
  2. Due to their motto ‘not to wait but do it now whatever it takes,’ they’re looking for ways to realize their goals within the actual budget, and here you can help them to acquire financial literacy and save money. 
  3. Gen Zers are extremely active on social media, which can be not just a platform to reach them but also a means of referral recommendation for you.


Have we evoked your interest in fintech app development for this target group? Now read on to learn the key nuances of building a rapport with Gen Zers!


Defining product-market fit for Gen Z


To choose the correct strategy for marketing to Gen Z, it’s also necessary to understand what values and principles your fintech product should account for. To help you, we’ve researched this topic and come up with the following findings:


  • Above all, Gen Zers cherish transparency, uniqueness, and a rewards system in-built within the online service.
  • Gen Z users are also interested in getting digital finance services focusing on their individuality.
  • As customers, this particular generation is characterized by a strong desire for saving, no matter what their current ambitions and level of income are.
  • They prefer learning online and value the quickness and ease of getting an answer to their questions via AI chatbots and other forms of autonomous finance.
  • The users belonging to Gen Z are extremely cost-conscious, which means that price remains the deciding factor for their purchase choice.
  • When it comes to payment methods, they predominantly use digital wallets or refer to P2P payment providers like Venmo, so integration with different payment gateways can be a significant point to consider. 
  • Compared to the two previous generations, these users are more tech-savvy people, which raises the bar of their product expectations and explains their zest for a personal reason to choose the service over the functionality it offers. 
  • To keep them loyal, you should think of their seamless and engaging UX first.
  • This type of user can be easily irritated by the long and tiresome account setup procedure, poor design, or confusing terms of usage—pay attention to these aspects not to lose them from the first try of your fintech software.
  • Your strong social media presence and interaction with the audience won’t be hidden from their eyes, that’s why ensure you put it in your marketing cart. 


Was our investigation helpful to you? Hope so.


Key considerations in creating fintech apps for Gen Z


Would you like some more hints on finding your niche within the Gen Z apps? Go ahead! 


Seamless user experience and intuitive design


Balanced design—minimalistic, but not oversimplified—is part of an answer to the question of how to build a fintech app for Gen Zers. Make it in a way to be fully understandable by everyone, with all functions crystal clear, and a pleasant interface. Don’t be blindly guided by design trends! Find some balance to stay modern, but not pretentious.


Personalization and customization options


As Gen Zers are in love with personalized products, there’s no other way to conquer their attention as a brand without playing by their rules. For instance, based on the user’s location, your fintech software can send personalized event recommendations, or it can give customers an opportunity to pick budget categories. It all depends on your fantasy, and our fintech app development company will implement the desired features into the product.


Integration with popular financial tools and services


The young generation worships flexibility. A variety of payment options is one way to do it and win Gen Z users’ attention. To make it true, you need to hire fintech app developers who know how to integrate your software with other money transfer tools and payment services. Patternica is exclusively good at building B2B API payment integrations.


Security and privacy considerations


Among other things, Gen Zers are deeply concerned about privacy infringements and protection of their account data, payment credentials, and other personal information. That’s why your fintech product should show that you prioritize their security and privacy by 2FA, biometric authentication, end-to-end encryption, regular audits, fraud detection, etc. Only this way, you’ll earn their trust.


Convenience and transparency


These are the last but not the least points to consider if you plan to develop apps for Gen Z. Convenience is about solving users’ daily problems with a few clicks, an easy sign-up, a quick account setup, and intuitive performance. Transparency is usually felt in having clear terms & conditions and honest information about fees. Show a good example to nurture loyalty.


Create the fintech app that matters with Patternica


Have you expanded your knowledge on Gen Zers, their needs, and expectations from the fintech product? Do you see how promising this target group is these days?


We’re glad that you’ve learned a lot of new things today, but we can help you more with our software development services. Check them first and contact us to realize all your fintech ambitions together!

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