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As we all know, the financial market is so much essential all across the globe. According to Select USA GOV, the commercial market is considered the largest and liquid in the world. Financial activities such as Bank transfers, insurance, stock market trading are managing your financial wealth so, we require mobile apps for Fintech companies.
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Top 3 Profitable Mobile App Development Ideas to Invest For Fintech Companies As we all know, the financial market is so much essential all across the globe. According to Select USA GOV, the commercial market is considered the largest and liquid in the world. Financial activities such as Bank transfers, insurance, stock market trading are managing your financial wealth so, we require mobile apps for Fintech companies. In today's world, it has become quite popular among users. These apps help them to provide faster, more comfortable, and safer financial transactions. No wonder; if you are planning to create a fintech mobile app then, you are in the right place. But let me tell you, it is by no means a natural process; it requires high concentration and amazing ideas. You must have to analyze the market entirely and then select the type of financial app. So, here we are presenting you with all some fantastic mobile apps ideas that can help you to create the best fintech apps. I hope this article will help you to get the profit you deserve from the app. Some fantastic mobile apps ideas Mobile Banking App You can create a mobile banking app that can help users to manage their bank account. The banking app helps them to do all the transactions in their smartphone, PC, or another such similar device in some simple steps. Before creating a mobile banking app, you must keep in mind that your app must have all the requirements. In the following years, we have seen lots of changes that have appeared in banking applications. Earlier, banking applications were limited to elementary services; today, it provides their users with a lot of conveniences: you can open accounts, deposits, block cards, transferring money, and much more. The convenience of completing financial transactions via a banking app is attracting huge no. of the audience, and the popularity of banking fin-tech platforms is enormously growing. The top three rivals in the banking industry are Citibank, USAA, and NFCU. Mobile Banking Usage Stats: According to a recent study, it was found that 89% of mobile users said yes, they use mobile banking apps for financial transactions. Further, 95% of millennial indicated that they use mobile banking. With the growing demand for mobile banking, companies now trying to be up-to-speed on the mobile market trend as mobile apps are the key to attract potential customers. P2P Payment apps: P2P payments, also known as money transfer apps that allow individuals to transfer money to one another from their mobile devices through a linked bank account or credit/debit card. It helps users to go cashless, and everyone prefers to make payments online using payment apps. It changes the way users exchange money with one another. It makes transferring money more convenient and easier for users. The popularity & demand for P2P payment apps are boosting enormously and is expected to grow more in the future. P2P payment Usage Stats: As we can see, technologies are burgeoning, the growth in the use of P2P payments is driven primarily by millennial. In a study by Early Warning Services found that nearly half of the millennial (age 22-37) smartphone owners in the US—have sent or received money via P2P payment apps at least once a week. In contrast, nearly 42% of 38- to-53-year-olds have made payments at least hebdomadal. Necessary features that you should include in your P2P payments apps are Account Details, Send/Receive Money, Transfer, Real-time Alters and Notifications, Past Transactions, Unique OTP, etc. Blockchain Apps Like other burgeoning fintech apps, Blockchain is also one of the most mainstream innovation in fintech. The decentralized blockchain system is now changing the way you manage assets or transact assets, use machines, rent a car, etc. It will transform the banks and other financial institutions completely. After seeing the growing demand for financial services, fintech companies are using this blockchain system to introduce smart innovations such as smart bonds and contracts.
The benefits of Blockchain is countless. It records, validates, and administers every single transaction. No one can tamper with the transaction record. This emerging blockchain technology can help fintech firms; improving P2P payments and eliminating high transaction fees for local and especially international payments. The Blockchain will help everyone involved in the transaction and also save spare time and money. Some applications of Blockchain in financial services are Asset Management: Trade processing and Settlement, Payments: Cross -Border Payment, Insurance: Claim Processing. Blockchain Usage Stats: According to the sources, it is found that 6 out of 10 companies invest in blockchain technologies. Worldwide spending on blockchain solutions is expected to grow 11.7 billion by 2022. Conclusion These are the top 3 mobile development ideas for fintech firms that you should consider. If you are looking for a mobile development company in India » to develop any fintech apps, then you are in the best and right place. We are the best choice for you! If you have any query related to fintech app development company » , then keep in touch with us. We are here to serve you, offering you the right solution for your needs and requirement.
