How to accelerate new Fintech products with modular frontend technology?
Building an interface and user experience is always challenging. In the Fintech area, it plays an even greater role in view of high customer acquisition costs and low lifetime values. Therefore, companies must invest over 60% of their engineering budgets to build apps and experiences to meet acquisition and retention goals.
The importance of interface and UX
The front end of any Fintech product is crucial. It is the face of your product and what customers see and interact with. Good front-end design can help attract new customers, retain existing ones and give your business a competitive edge over older institutions.
Fintech companies in the US and Europe have found that providing customers with an exceptional experience is the key to success. This has always been a difference between legacy institutions and modern fintech, but its importance has often been underestimated. Front-end experiences remain the biggest success factor for many fintechs and are a stumbling block for others who haven’t been able to make it happen.
A good interface solution must not only look good, but also deliver your brand message and interact with customers. It should be clear, intuitive and responsive; Furthermore, UX is directly connected to other parts of the product such as backend APIs, business and compliance processes, marketing tactics, etc.
At Velmie, we understand the importance of front-end design, which is why we’ve built modular front-end technology that makes it easy to create custom experiences for your product. Our white banking apps for iOS and Android are fully customizable and the back office solution comes with comprehensive tools to manage engagement and conversations with your customers.
Costs of building Fintech apps
Building a great interface for your Fintech product can be expensive and time-consuming. Companies often have to spend a significant amount of effort building and running various UX tests until they reach their goal. With a modular white-label frontend, Velmie can compile different components to get your unique products and experiences delivered to the public in just 1-2 months. This approach allows us to significantly reduce time to market from around 1 year to just 1-2 months, saving you both CAPEX costs and reducing time to market by up to 75%!
With over 30+ modules and components such as cards, crypto, Fx, QR payments, invoices, portfolio management and others, the front-end technology can fit most Fintech products.
The benefits of white-label apps
When you want to launch a new Fintech product, you need a technology partner who can help you get things up to speed. Finding and retaining experienced app designers and developers with a relevant background in the Fintech area can be challenging for early-stage companies.
Velmie not only provides a toolkit, but also performs end-to-end delivery, providing hassle-free service to companies that do not have in-house technical expertise. Founders can stay focused on their business, customers and partners while we deliver perfectly designed apps and experiences with our unique technology. Also, API middleware technology provides fast connectivity to partner banks, allowing you to get your product to market faster than ever before.
