FinTech App Development- Strengthen The Finances

As the success and growth of eCommerce shores, it is bound to call for a complete conversion of the financial and banking sectors to the online industry. This conversion process has been going on for quite some time now. This has resulted in FinTech App Development and many others down the line. 

 The digitalization of all services catapulted to the maximum during the trying times of the COVID-19 pandemic. The restrictions and lockdowns imposed worldwide due to the spread of the virus disrupted the whole process of trade and commerce along with other important industries and sectors. 

However, as of 2020, humankind already had alternatives that could at least tackle the initial upheaval. And soon enough, eCommerce sectors coupled with finance applications saw massive growth in numbers. FinTech App Development increased simultaneously, and the downloads of such applications spiked in all countries, some going over a whopping 70%. Even after 2 years, the hype may have declined slightly, but the demand remains intact. 

Different Types Of FinTech App One Can Develop

FinTech App Development for your own business has become a familiar concept. There are different types of FinTech App solutions available all over the market. Among them, 5 types are most common for businesses to adopt and quite beneficial for the customers and users of the app. These types are discussed in the next part of the article. 

Investment Apps

As the name suggests, this financial application is centered explicitly around mutual fund investments. Not just investing in mutual funds, but also managing them, checking them once in a while, and getting the benefits of the scheme, directly sent to you at the end of the term or when you require, as per the rules and regulations cited on the deeds. 

Insurance Apps

Insurance companies are an integral part of the Banking & Financial Service Industry. Since the digital revolution, they have also enthusiastically participated in going digital, and many insurance companies have since joined the digital fleet. These applications let users easily apply for insurance, connect virtually with company executives, pay for the insurance online, and receive benefits on the field when required. 

Forex Apps

Forex services are essentially trading services, and this particular financial sector has often attracted tumultuous attention. Trading platforms are for company shareholders. FinTech App Development can be dedicated to a forex app development, where users can do trading on a global scale. 

Cryptocurrency Apps

Cryptocurrency has been stated to be the future of different digitalizing services. Though not yet officially recognized by many countries, cryptocurrency holds a great potential to change finance and commerce on a big scale. With the acknowledgment and growth of cryptocurrencies, many eCommerce sectors have adapted to the change, and many are looking forward to it. However, already applications have multiple currency settings; hence integrating cryptocurrency is only a step further into the future. 

E-Wallets

The most common and most useful FinTech App Development has been e-wallet development. eCommerce and many other online service platforms depend on different online payment methods, and e-wallets are among them. E-wallets are digital storage units where users can store a certain amount of money from their bank or other financial accounts. This digital money can be used in several conditions, especially for making payments. 

Basic Features For FinTech App Development

Now that we know about the different types of FinTech Applications that can be developed, there are certain features that we need to look at. Like any app development process, FinTech App Development is layered with multiple features that help it serve its true purpose. 

Secure Sign-In

The first step for every service application of today is registration. The registration process is usually quick and straightforward. The sign-up section has several security features and options such as OTP, facial recognition, fingerprint recognition, etc., to secure the user profile limiting to personal usage. 

Money Transfer

The primary purpose of FinTech App Development is to allow different financial transactions to happen smoothly. The app allows users to send and receive money instantly, with an instant money transfer feature, while traditional methods have a time limit attached to it. This feature has had quite a track record, and there can be no denying its usefulness. 

Bank Account Link

The digital cash used in transactions comes from an existing bank account. Therefore, while signing up, every user has to link their bank accounts to access the fund available in them and store funds received from other digital sources. Establishing a bank account link is relatively easy, with the user providing a few necessary info and the app verifying it with the banking unit. 

Budget Optimization

FinTech App Development is basically for users o have access to their wealth and assets stored legally under a financial organization. The access is not just for making payments or receiving dues, for that matter. The user can also check the remaining balance and set up a budget schedule to manage their expenditures. 

Pop-Ups & Push Notifications

Any service application of today has pop-ups and push notifications to engage audiences in certain development. Every update and information that needs to be communicated with the users are sent via push notifications or pop-ups. There can be numerous grounds on which push notifications are sent to users. Pending payments, new feature updates, timely checks, receiving a payment, amount deduction, etc. 

Investment Advice

As a financial app at its core, it may also suggest the user different investment plans and even offer advice on certain occasions. Not all users may have proper knowledge of specific financial options, for which they may require guidance. This helps users to move in the right direction adhering to professional intervention. 

Speech/ Voice Recognition

Voice commands and speech recognition features are increasingly accepted and utilized in several app service platforms. For FinTech App Development, voice recognition or speech recognition feature can be helpful for users to use the services they require using voice commands. In addition, the user can also present their queries through the voice recognition or speech recognition feature. 

Chatbot Assistance

Since the development of AI technology, it has been used in several revolutionary instances, and chatbots are one of its prodigies. Many companies use chatbots to interact with clients faster, almost in real-time. With chatbot usage, users get an instant reply to their queries, enhancing the business’s reputation. 

Advanced Features For FinTech App Development

A few advanced features are needed to be at least considered during FinTech App Development. These features may not be necessary, but their inclusion has significantly impacted several cases. 

AI Personalization

As mentioned a while ago, Artificial Intelligence technology has changed a lot in the past few years alone. So it is no surprise that FinTech Apps are also integrating AI technology to make the app smarter as per the times. 

Cross-Platform Functionality

The diversification in customer demands has forced online financial platforms to allow cross-platform activity. With this feature, users can continue transactions to other portals and platforms. 

Data Analytics

A fully-functional financial application generates a massive amount of data. This data is required by different participants differently. For the app itself, this data is needed to perform specific analyses. Data analytical tools help the admin devise new plans and strategies for the platform researching from the app’s performance. 

Multi-Lingual Support

Multi-lingual support is crucial for a financial application with a diverse user base. Users need to convey their queries and issues properly and understand to get the right solution. 

For What Reasons Should You Choose WebRock Media For FinTech App Development?

WebRock Media is the market-leading provider of financial technology (FinTech) services. In addition, we are one of the most reputable FinTech App Development businesses in the United States and around the globe. We supply original FinTech app concepts and construct top-notch, creative, and secure FinTech apps that our clients prefer us.

We Reduce Development Time By 25% To 40%.

Being one of the fastest app development companies worldwide, our development process is more immediate than any other similar service provider in the IT Sector. As a result, we give you a short deadline and put in our best effort to complete and deliver the project within the shortest possible span.

We Develop Fintech Application Development That Is Motivated By Results

Our FinTech App Development is backed by results, which keeps our clients motivated and satisfied. In addition, our app is free from bugs and unnecessary hang-on, offering the best user experience and most straightforward interface.

We Have Teams That Are Cross-Functional, Agile, And Creative

What keeps us afloat from the competition in the industry is our team of professionals who are incredibly skilled and are multitalented. We take it as our responsibility to deliver the best quality FinTech App Development in the market so that you and your business always find it easier to reach the targeted goals.

We Deliver Project Needs That Can Be Met At Any Time Of The Day Or Night.

Reach out to us at any suitable time, and we are there to cater to your needs. We are always there to support and guide you through the intricate workings and the technicalities of FinTech App Development, and our team always focuses on being the hands-on support for your Fintech business.

We Offer Quality Items Provide 100 Percent Client Happiness.

The ultimate goal of WebRock Media is always to keep the client happy and satisfied with our endeavors. We perform the best services and are always there with our excellent after-sales services so that you are thoroughly satisfied with our FinTech App Development and the team.

Conclusion

FinTech App Development has many layers, and we have tried to explain as much as possible. Financial services have a dynamic reach and are only going to get better. Hence, there are ample reasons for developing an online financial service platform.