Front-end development and UX pose significant challenges and are crucial to the success of building new tech products.
That is especially true in the fintech industry, where the role of the front end becomes even more critical due to high customer acquisition costs (CAC) and the average customer lifetime value (CLV) metrics. According to the latest data the average CAC for SaaS companies in the B2B fintech industry reaches $1450 in 2023 and this figure is increasing from year to year. It is clear that financial services companies must explore and embrace more cost-effective acquisition strategies to maintain a competitive edge.
Velmie, a leading provider of modern digital banking software solutions, has introduced a white-label solution that features a modular front end, offering a host of benefits to businesses:
- Accelerate customer engagement and retention. Delivering an exceptional front-end experience not only improves customer satisfaction but also fosters trust and loyalty. Through carefully crafted UI components, businesses can optimize user engagement and retention, ultimately increasing their customer lifetime value. By incorporating best UX practices and accessibility standards, the UIs enable seamless navigation and interaction, creating a strong foundation for long-lasting and valuable customer relationships.
- Reduce development cost and time-to-market. Developing a front end for a fintech product can be a challenging and time-consuming process, involving extensive UX testing and integration with various backend elements. However, Velmie’s modular front end revolutionizes this approach by breaking the UI into self-contained components, enabling businesses to create a flexible and customizable design. This modular solution significantly reduces time to market, shortening the typical development timeline from 1 year to just 1-2 months.
Velmie modular front end refers to an approach where the user interface (UI) is divided into separate, self-contained components. Each component is a building block that can be combined and reused to create a flexible, customizable front-end design.
The front-end technology offers a range of modules and components, including cards, crypto, Fx, QR payments, invoices, portfolio management, and more. With over 30+ options available, it is suitable for a majority of fintech products, catering to various needs and functionalities.
Velmie front end technology has expanded the list of components including typography systems, color schemes, UI elements, shadow and blur effect styles, interaction patterns, and more. By breaking down the UI into modular components, developers can streamline the development process, enhance code reusability, and improve overall performance. Every component within the solution is meticulously designed with the best UX practices, ensuring a seamless user experience.
“Modular front-end empowers businesses in the fintech industry to create user-friendly, visually appealing, and customizable interfaces that align with their brand messaging and user experience goals. By leveraging the benefits of modular front-end development, businesses can accelerate their time to market, enhance customer engagement, and gain a competitive edge in the dynamic fintech landscape.” – Slava Ivashkin, Founder and CEO at Velmie.