How to Build a Successful Fintech App –

by James · April 6, 2023

Fintech applications are expanding, with companies implementing the latest innovations: AI, ecosystems and paperless services. These sophisticated options make people’s lives easier, but if poorly presented, they can seem incomprehensible. We will tell you how to create a technically savvy and user-friendly mobile app for fintech. First, we will provide a quick checklist of successful fintech apps and then provide more detailed information.

Table of Contents

Checklist:

It is not enough to analyze personal customer data – you need to know the behavior and unique needs of each user. Hyper-personalization is necessary here.
To maximize the app’s usability, you should consider using a shortcut function.
If you’re on a tight budget – avoid developing a single, complex app and instead develop multiple apps with basic functionality to isolate critical features for users.
Engage consumers with ingenious options that increase convenience and delight them with appealing visual design, so they want to come back and use the app more often and for longer periods of time.
If there are higher requirements for Infobase, performance and complex custom widgets, it is worth prioritizing native development. If you need to quickly test hypotheses on different platforms – cross-platform.
Listen to your team, understand its strengths and weaknesses, understand what tasks it can solve, and don’t overpower it. After all, developers, product engineers, designers and everyone else involved in app development are the kindest, most responsible and most motivated people on whom the success of the entire digital site depends.

Use hyper-personalization

An important trend among mobile financial services is personalization. It is based on analyzed data about user behavior, not just basic user characteristics. Hyper-personalization can only be built up iteratively (in cycles): more data about customer behavior means more relevant offers for them.

Hyper-personalization allows people to spend less time searching for options and information, freeing up time for more important things, like spending time with their children or completing a work project. When the options you want are readily available, people are more likely to return to your app.

Instant payment

Short linking is a must for any app that sells its products or services. A person is more likely to buy if they don’t have to look up a card number or access third-party mobile services.

Super app – an ecosystem that not everyone wants

A super app is an app with an ecosystem of services, ranging from financial to lifestyle.

Building a superapp requires building a complex IT structure from scratch, including working out the huge number of interconnections between services in the superapp. Developing simpler apps requires less UX/UI effort and a set of applets will still perform the necessary targeted actions.

User interaction

Preventing users from getting bored and leaving the app is a challenge that requires professional product development.

Functionality and emotionality now go together – in addition to advanced services, do not forget about beautiful screensavers, interesting animations and icons. A fintech app doesn’t have to be gray and boring just because it only performs financial transactions.

Focus on native apps

Is it better to develop apps cross-platform or native? Native apps prove to be more functional and flexible because they are built specifically for each platform with its specific features in mind. There are far fewer restrictions for developing native services, and this is their main advantage.

Custom widgets in cross-platform applications can freeze when used and usually take longer to tweak. Animation speed and special effects in them can lose to natives. Hence the many limitations for cross-platform services framework developers.

Published by Holr Magazine.