Nowadays, smartphones are the most integral part of our lives, without which living is difficult. While for some it’s a business making gadget, others use it for their personal purposes like education, eLearning, and entertainment.
However, the best growing use of smartphones is now in the banking and finance sector. Every bank or financial sector has now its own banking & finance software company to develop, launch, and maintain FinTech apps, software, and websites.
Fintech means “finance + technology.” Yes, modern technologies, especially the internet-driven tech have been influencing the finance industry. Now people no longer walk to a bank, the banks come to their home via real-time smartphone apps 24×7 available.
Today, you can use a smartphone to pay bills, transfer funds, deposit money, to keep eye on investments and daily expenses. Now, getting loans is easy, and making savings as well.
The finance related application idea has made banking at our fingertips and smartphones have made it possible for us to enjoy the overall process of banking, finance, cryptocurrency, etc. conveniently.
“The global financial sector will grow to the US $26.5 trillion in 2022. In this trillion-dollar industry, the fintech market share is of US $187 billion with 48 top fintech companies in it. By the end of 2022, this sector will grow at 6% CAGR of the global financial industry.”
Through fintech apps, fintech agencies offer purchasers to surf and spot their economic transactions. And additionally permits them to pay their buddies while permitting economic establishments to make brief lending selections which are all a part of the evolution of economic offerings and it’s also a revolution for the fintech industry.
There are many top fintech app developers with the best skills to build a fintech platform. If you have the best fintech app ideas with you, we will recommend you to develop fintech apps.
Introduction to Fintech Apps
Fintech is a new trend in the finance and banking industry, where fintech app ideas are the real-time game changer. Basically, a fintech app connects banks/financial institutes to those customers who are ready to make use of digital bank services.
The usage of fintech apps is different depending upon the purposes of users. For example, personal finance, P2P (peer-to-peer) lending, investment, crowdfunding, money transfer, etc. are some useful usage.
But, how an app support all these usages?
It is because the best-designed fintech app has the following features: Instant transfers, Push notification, Face detection, Fingerprint login, Voice banking, Chatbot in messaging, Mobile payment integration, Mobile photo bill pay, Use phone ATM, Mobile P2P send, Investment advises and scheduled investing goals.
Once the fintech app has all these features in it, the app can provide hundreds of benefits such as high-end security, making ourselves a cashless society, easy to access banking services, and many more.
Fintech apps are the flagship of the fintech revolution, which is currently at its peak!
There are different types of Fintech apps and to build a fintech platform of each type is a different task. Yes, you can hire Android developers and create apps easily; but, firstly you must know which types of fintech app you have to create.
There are three major types of fintech apps – Mobile banking apps, Finance apps, and blockchain apps!
If you have some plans to create the best mobile applications for the ease of customers in the banking and financial sectors, I would recommend you to first explore some top apps, find out what are they best at, and then plan your application accordingly!
“The biggest fintech products are digital payment systems, which have 25% market share in the fintech market.”
Top 9 Best-designed Fintech Apps!
Let’s have a quick look at the top 9 fintech apps of the banking and financial sector:
- Mint: Best Money Management App
- moneylion: Best Financial Advice & Loan Access App
- Wally: Best Tracking Expenses App
- Chime: Best Mobile-only Bank App
- Acorns: Best App for Easy Saving
- Revolut: Best Banking Services and Finance Management App
- Robinhood: Stock trading and Robo advice app
- Coinbase: Largest Cryptocurrency Exchange App
- Venmo: Mobile Payment App
Download all these apps at your Android smartphone from the Google play store. Explore their features and functionalities. Take a note of everything, then contact the best fintech app developer around you!
How Much Cost is Needed to Develop a Finance App?
The fintech app development cost is primarily based on the platform you choose to develop and the hourly fees of your app developer. For a better app concept, you can also contact the top fintech app development consultant.
A fintech app developer will charge $30 per hour. Use this formula to find the cost:
Development Hours * Developer’s Hourly Cost = Fintech App Development Cost
Now, once the cost calculation is over, you must now look for the types of features that it will have in your app. With the different services of the fintech world, you can definitely collaborate with some fintech firms and start your own fintech company.
Two important reasons to get into the business in the fintech industry are increased chances of Higher Returns and a Diversified portfolio!
Get an app idea related to the current market trends, blockchain development, cryptocurrency exchange applications, stock market, online trading system, and the mobile banking and saving systems.
In this best fintech apps guide, you have theoretically learned the features, benefits, and use cases of these new-age financial apps. Still, if you aren’t satisfied with the research we provide you, you can look at more until the best choice comes in front of you!
Only having a mere idea cannot decide if your application will become a great hit in the finance industry or not! You can’t make an app just by copying another app, you have to grow the application as per the market trends.
Therefore, before making an app, I would tell you to cross-verify all types of app ideas with us. In any case, you can ask us queries related to fintech app development, cost of development, a timeline of finance apps, and how fintech apps make money?
Do get fintech Android apps on your smartphone that can help you in daily life!