Fintech: a more motivating way of saving money? : Persuasive design in Fintech

Sammanfattning: The use of financial technology (fintech) apps has proven effective in improving people's confidence and ability to manage personal finances, offering innovative solutions and lowering costs for customers. Fintech apps employ persuasive design strategies to encourage users to save money, providing tips, comparison features, and visual feedback on progress. This thesis aims to understand the effect of the used persuasive design in fintech apps towards users saving behavior, by using BJ Fogg’s behavior model. This study is based on semi-structured interviews and first-person research to understand the effect of the persuasive design elements and how these are helping the users stay motivated. The findings showed that apps allow users to customize their saving strategies, accommodating their unique backgrounds and savings capabilities. Furthermore, it was found that the apps increased the user’s motivation, made the users able to use the apps easily and had a different way of using triggers to cue the saving behavior. They also employ nudges engage users in actively managing their savings, generating positive emotions among their users.