Ep. 650: Ethical Design Practice for Smartphone Financial Apps

Trading in stocks, funds, cryptocurrency and other financial assets has been made super easy by smartphone-based apps. A dark side to this ease of use is that many users can make trades without understanding the associated risks and can end up losing money. User interaction design of such apps plays a big part in the user experience.

Mihir Mahajan talks to Anirudh Tagat and Saksham Singh to understand these issues and how responsible design practice and a robust regulatory framework can help protect investors while not impeding the investing opportunities enabled by smartphone apps.

Anirudh Tagat is a research author at the Department of Economics, Monk Prayogshala, Mumbai.

Saksham Singh is a researcher with the Centre for Social and Behaviour Change, Ashoka University. He is also a part of India’s Behavioural Insights Unit at the NITI Aayog.

Further Readings:

Anirudh and Saksham’s article in BloombergQuint

Dark Patterns in User Experience

Vivek Kaul in Mint on regulating newer forms of investing

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We Are All Zombies

How do our brains work? Why do we behave the way we behave? ‘Unthink’ by Chris Paley has some excellent insights.