There is no common explanation of the Fintech app as it simply means the evolution of finance utilizing the latest technology to tussle the daily finance activities.
According to Statista in 2018, about 75% of Millennials in the USA, that they used digital banking, which allows the setting to rise to 77.6% by 2022.
The Global Fintech Market research is expected to approach $305 billion by the end of the year of 2025. The fintech startups scooped up 105.3 billion in funding in 2020 and the most comprehensive companies offer that to growth through attracting new investors that implement and achieve technology-driven solutions.
5 Best Fintech Apps That You Must Try and Check in 2021
- This fintech app development provides users with financial advisory services and access to preferred loans. The six-year-old startup business remains an individual finance mobile app that serves as a component of lending, part savings, and part of a wealth management app. It has raised an approx $100million Series C round led through Edison Partners and Green Spring Associates and with this, that startup is currently appraised at $1billion.
- Robinhood app is an online brokerage industry disruption that allows users to invest in public organizations and exchange-traded funding recorded on the US funds exchanges. The app has a clearing operation and without any commission charges for investment in stocks, ETFs, or cryptocurrency. According to the Robinhood platform, the exchanging app has grown to a range of $323 million driven by DST Global. The industry is presently valued at $11.7 billion up from its Series D estimate of above $5 billion.
- The Chime app is continuously rising fast in the USA as a mobile-only bank that allows users to manage their spending and saving statements without hidden transaction charges. This is one of the greatest budgeting tools that enable users for various automatic conservation benefits. It is great free ATM networking which is the most convenient app for the banking sector.
- The fintech mobile app development, Nubank, is a Brazil-based top application that becomes one of the best fintech apps by implementing access to statements and tracking the spending through the category for deleting purchases with Nubank Reward points gained. Nubank allows real-time information about Credit cards, saving balance, and Nubank rewards.
Android | iOS
- Mint app is the most successful platform that is one of the most popular fintech apps based in the USA when it comes to assembling important information that is related as well and about a user’s card, accounts, and transactions, etc. They have build fintech app which implemented notification alerts to remind users approximately the paying bills, and offer guidance based on spending patterns. All data has been encrypted including 256-bit encryption and the data transferred with Mint is encrypted including 128-bit SSL.
Best Key Features To Build the Fintech Mobile App
- Secure Sign Up
- The most basic and essential feature of every service provider app is user registration. Every user has to register themselves into the app for accessing additional features by entering the required information such as Email ID, Full Name, Last Name, Address, etc.
- Advanced Sign Up
- The advanced sign-up section can be considered secure by integrating multiple features like fingerprint recognition, OTP, facial identification, or unique code generation.
- Money Transfer Method
- The feature has been proven to be more useful to grab higher user engagement on the mobile app. That app has multiple options to transfer the money online such as VISA, Credit/Debit Card. With the instant money transfer feature where users can quickly transfer money for their relatives with zero commission and no fees, by the fintech payment apps.
- Push Notification
- The users must be updated with the latest features and updates of the app without opening the app. It is a real-time notification feature that helps users to notify the users with the details about their total monthly spending, pending bill payment, and more..
- Investment Advice
- The users with the latest features and updates, It can also be sent to suggest investment strategies. The adviser can advise them about planning their monthly, weekly, or quarterly investment decisions according to the recommended apt investment plans..
- Budget Organization
- The monthly budget works beyond their limit that affects the next few spending of the month. The budget organization allows them to manage the monthly budget by providing complete information about the spending and also it gives alternative methods for reducing expenses..
- Voice Recognition
- Best fintech apps 2021 presenting advanced features for better convenience which is voice feature with Artificial Intelligence (AI) that can be integrated into the FinTech app development. Users can communicate and interact with the financial mobile app through voice authorization or speech, and the applications can also respond to queries by voice direction..
- Real-Time Tracking
- Real-time money tracking is the standard feature of banking and financial applications. That app must provide the constant latest updates about transactions, credit balance, and other loan data.
- Security which is the essential part of every step where Users will trust your finance app only if your mobile app provides high-level security to their confidential data.
- Users are able to preview the payment through the checkout where users can review the details on their screen.
- Fintech app development services provide the best feature to gain user’s attention which is the Cashback where users can View cashback balance, Set cashback categories, and View cashback history.
- Through the app, the user can view deposits on the screen and view related details.
- The users are able to view installment information according to their payment.
- Deposit machines and bank branches
- Whenever the user wants to go to a nearby bank or machine then they are available to view the map.
- It allows users to Edit personal info, Set phone numbers, Change app pins, and Log out.
- Push Notification
- It allows you to notify about the activity through sending a Push Notification.
Admin Panel Features
- Admin can login into the panel through the Email ID and Password.
- Users management
- Admin can manage the users by List of users, Search user, Filter users, and Sort users..
- Navigation Menu
- Admin can manage the navigation menu, they can activate or deactivate any according to their requirement.
- Payments Management
- Admin is able to view the complete list of transactions.
- Cashback categories management
- Admin panel allows to manage cashback categories Add, edit, delete. They can activate or deactivate as per showing on the user’s screen.
- Deposit Machines and bank branches management
- They can manage the different branches and banks according to the area or city.
- Installment Manage
- Admin can view and manage all the installments of the users, view complete list, and search.
- They can send notification to the user about the pending installment, upcoming installment and payment done.
How Much Does It Cost to Develop a FinTech App in 2021
A fintech app development company is always first to work on the working hours to create and deliver the project. This fintech app takes approximate development time by modules explaining that developers will spend about estimated hours to implement the components for iOS and Android platforms.
It divides that time into smaller parts, and we will get about 9 development emphases. Fintech app development cost depends on the various segments that consider the total hours and their features.
The company only doesn’t have only one developer or specialist, we at Deorwine Infotech have various specialists that work on the particular model and that is why the team is required:
- Mobile App Developer
- Back-End Developer
- UI/UX Designer
- Business Analyst
- Project Manager
- QA Engineer
- Team lead
Hire Fintech app developers who can understand that industry and their needs to improve the market value more. The cost also depends on the more other following factors:
- Features (Standard)
- Advanced features
- Platform (Android or iOS or Window)
- Development Team Size
- Developer Location
The cost of mobile app development considers everything required in the. development process. As compared to mobile app developers in the United States and other European nations, mobile app development in India is a more cost-effective solution even by startups.
Are you Looking for the Best Finance App Development Company?
Deorwine Infotech is your professional mobile app development company that can build faster and rich-featured Android Apps and iOS apps within deadlines as agreed.
Do you have an Idea?
Choose the best financial app development company with comprehensive industry experience, knowledge, and adequate support to get the app developed within a good and satisfactory budget.
Being a leading mobile app development company in India, that provides you the best end-to-end solution for your best banking app development.
Create fintech app that helps the connected digital world and we can get everything just with a tap. In the digital world, you can fulfill banking and financial requirements utilizing intelligent mobile applications, easy-to-use finance apps that do not benefit the users and ensure profitable enterprise to app owners.
Let’s Talk to our app development experts regarding your requirements and app functionalities, here is get a free quote for your app.