Mobile App Development for South Korean Fintech Startup
Solio is a Korean stock trading app that allows users to receive passive income without specific knowledge and experience.
Trading in Korea
Solio (Smart Portfolio) is a South Korean mobile trading application on iOS aimed at a non-trader user.
Not everyone can trade stocks in Korea. You need a licensed trading account which makes trading solutions in the country very limited. Our goal was to design a product that would allow outsiders to discover the world of trading without much expertise in fintech.
To facilitate an easy-to-grasp mobile app design, the app features numerous integrations and automations. They range from purchasing an entire portfolio to getting a robotic advisor that provides suggestions on trading actions.
During custom mobile app development, we needed to help Solio provide stock trading features to young and amateur customers in a safe environment with an encouraging voice. We wanted to make them feel empowered and become financially independent.
The main issue that our design team was trying to solve across the project’s entire lifecycle was to pack robust functionality and complicated infrastructure into a user-friendly interface with familiar app mechanics.
As an agency working with clients across the world, we are used to producing solutions for different cultures. This, however, complicates the research in terms of how certain elements are expected to behave. In this case, we have studied top stock trading apps in Korea, broken down their UX, and deconstructed features to find dependencies.
The logo design is a stylized “S” made of two halves to symbolize the blend of traditional trading and innovative automated robo advisory. We adopted a modern “tubing” style with gradients in a white and blue palette typical for fintech app development. At the same time, we ensured the brand’s appeal extended beyond digital to a comprehensive suite of collateral elements.
Three iterations till final
With a unique identity system at hand, it makes the whole brand development smoother. It took the team three iterations: from sketch to concept, and then from concept to the final symbol before we came up with the entire brand collateral collection.
The flagship of the Solio brand ecosystem is the iOS app that carries the majority of its business value. In mobile app development, we approached the design from the perspective of problem-solving and not just artistic expression. This required a deep analysis of the market, legal and social expectations, and a fair money management system.
We developed comprehensive wireframes to establish a clear understanding of the entire product. These wireframes served as a visual functionality guide, detailing the features and interactivity of each screen. Thus we ensured a cohesive and controlled design approach.
User risk profiling
This official questionnaire is a KYC analog, and it allows us to learn more about our users based on their risk profile. At the same time, the feature provides a more valuable curated Solio trading experience for the clients.
A portfolio is an essential part of an investor’s operations, so we placed it on the home screen to display balance, stocks, and portfolios. Best interfaces for stock trading in Korea have dashboards on the home tab implying that analytical features are an integral part of it. However, this type of data visualization is too complex for beginners and not necessary for pro users. Instead, we emphasized the balance and individual performance of the stocks the client owns.
Being the main commodity within the app, stocks required a complex functionality and information architecture within one screen. So, in our mobile app design, we followed a tabbed layout with multiple features packed into the minimal interface.
Model portfolios allow users to purchase stocks “in bulk” based on the interest and their personal preference. For a rookie investor, it might be a challenging task to assemble their own portfolios, so Solio provides access to the pre-made ones with rebalancing capabilities.
The dynamic financial industry takes time to master before a client can make timely decisions and anticipate events. With robo-advisory functionality though, we can integrate a vast amount of knowledge into an AI-driven assistant providing valuable insights and suggestions.
The Solio stock trading app is targeting the South Korean market but caters to both the natives and the foreigners, so we have to create two versions – English and Korean. The screens had to be localized using more than just a traditional translation since the design required only a certain number of characters within the specific elements. The localization job took about 2 weeks and over 200 strings of copy based on the UX writing guidelines and design requirements.
Once the stock market app design and localization were completed, the development phase started and is currently ongoing. The application uses multiple official and undisclosed data providers along with a lot of third-party integrations which makes the building part a difficult process.
As a custom mobile app development company, we have gained invaluable experience that enriches our endeavors in trading projects. Inc., and other trading projects. We appreciate the international aspect of this project and have gained a lot of respect for the multi-national product companies that we’ve had a chance to learn from.