In a fast-paced world, adopting technology to replace traditional methods of work has become a necessity.
Top mobile app development companies are being rushed by all industries to make digital versions of everything offered in brick-and-mortar setup.
Following the same route, the finance industry that rests upon security and analytics also came knocking at all IOS App Development Company
It’s easy to guess this union of finance and technology is being labelled Fintech. Well, if only it were limited to that.
With finance being an integral part of many core daily activities, it branches to many subsets like banking, trading, or insurance.
This is the reason that the type of project determines what technology has to be used such as machine learning, data science, or blockchain.
It’s natural one might get in shambles around these vast topics before using them for their own app.
But look no further as we bring a guide to help you understand Fintech a little better!
Types of Fintech
To be compliant with regulations of money laundering, companies are adopting Regulatory Tech (RegTech) that uses cloud computing to monitor, report, and check compliance.
Facilitating anonymous and decentralised payments, blockchain use in business app
removes all intermediaries and processing fees.
Insurance companies aim for premium CRM and use their apps to process
documents, track commission using IoT and data science.
Value Enhanced Security
Users are conscious about safe financial services and it is crucial that data encryption and secure authentication channels are incorporated into the app.
Firmly require the use of complex passwords that have to be changed frequently and log
everything from total sessions, transactions, password changes, etc.
You will need to get multi approvals to use prominent features like huge transactions, international payments or changing phone numbers, etc.
Innovative and Simple UI/UX
Financial services are shared by almost all age groups and demand a user interface that’s easily understood.
Many of your old users shall require assistance if no proper flow is available within the app.
It seems like a task but a great UI/UX designer who performs reliable testing might do the job.
Make sure the app looks clutter-free to make it look easier, another way is by offering a technical support guide while using the app.
We agree that a fintech app might require a lot of pre-planning and secure strategies, even more than other app types but this industry is rising fast as 46% of people are using digital payments for financial needs.
TechAhead offers premium solutions to your doubts. As a leading development company with 12+ years of experience, they have worked with numerous giant clients like Audi, Dailyhunt, AXA, and many more.
Your Fintech app requires security experts with creative UI/UX, a combination TechAhead proudly holds. They do things differently by making you at the axis of our work, nothing is done without your involvement.
Check out their exceptional work with clients here and look no further for your next-level Fintech App.