Do you know any white-collar individual not using a mobile app?
Well, it’s 2024 and even imagining such a situation sounds ridiculous, doesn’t it?
Amongst all mobile apps, people often complain about tracking money, expenses, and investments.
This is where the importance of FinTech apps comes in!
Not only do they manage your finances with custom dashboards and financial insights but also help you keep an eye on your expenses.
But wait a minute!
If your application is not user-friendly and has a cluttered design, there are significant chances that your users will uninstall your app and look for another one.
Thus, if you want to stay ahead of your competitors, investing in feature-rich and scalable FinTech app development features is a must!
Before we dive into the Fintech app features, let’s discuss the types of Fintech apps.
Table of Contents:
What is a FinTech App & its Types?
To put it simply, a FinTech Application is a kind of dedicated software app that aims to digitize financial services, which enables users to carry out their financial and investment activities easily.
Let’s take a look at the popular FinTech apps.
- Payment and money transfer
These apps are popular FinTech apps that enable users to transfer and make payments without any hassle. The best part is that it takes just a few seconds to transfer the amount from one bank account to another.
- Personal Finance Management (PFM)
Another major app on the list is the “Personal Finance Management” apps which enable you to track your finances and make a monthly budget to prevent you from overspending. These apps will teach you about finance such as cryptocurrencies and mutual funds.
Note: Want to build a dedicated finance management app? Hire trusted FinTech app development services to build solid, feature-rich, and scalable apps that churn out tangible business returns.
- Investment apps
There is another popular category of apps that has gained significant traction among startups and established businesses. These FinTech apps enable users to invest and grow their money over the period. With their engaging designs and seamless user experience, these investment apps are relatively popular and most downloaded among all three.
Top 10 Features to Include in FinTech App Development
Here is a list of the 10 features to include in your FinTech App Development.
1. Account Management
One of the biggest trending features to include in your FinTech app development is to incorporate account management. Not only does it help users with a dedicated page but also enables them to edit or customize their personalized account and foster a seamless user experience. With such FinTech app features, users can easily keep an eye on their expenditures and financial activities.
2. Digital Payments
It is no secret that mobile banking apps must offer quick access to multiple payment methods to boost customer retention and facilitate digitalization. When you incorporate digital payment features during FinTech app development, it offers payment options to make transactions and check their balance whenever they want.
3. Language Options
Every customer is different, and so is their understanding of languages. When you implement multiple language options in FinTech apps, more and more users will try to download the app and use it to carry out financial activities. Furthermore, it helps in facilitating inclusivity and diversity. If you don’t have time, hire a dedicated FinTech app development company to incorporate these FinTech app features and reap maximum benefits like an increased customer base and most app downloads
4. Customer Support
Because an app is prone to bugs and errors, implementing robust customer support is the need of the hour. Ensure you offer support through email, phone, and online chat which will help users to rectify issues whenever they can. Furthermore, try to keep customer support responsive and helpful. If you don’t know how to implement a customer support function, hire professional FinTech app development services to do it for you.
5. Bill Payment
No matter whether you want to attract customers or foster an uninterrupted user experience, implementing the feature of “Bill Payment” is a must. Not only does it help save time and money but also it enables your users to pay bills instantly. Furthermore, this feature can help customers avoid late penalties and maintain a great credit score to avail of a loan in the future.
6. Money Transfer
Remember that your FinTech app should be able to transfer the money to a different account without any difficulty. When users don’t need additional cheques or currency details, implementing a money transfer feature can help get the job done with ease.
7. ATM Locator
Though digitalization is at its peak, your users should be able to locate the nearest ATM in case of emergency or cash urgency. With such FinTech app features, users can easily locate the ATMs nearby to their place and can make instant cash withdrawals without any hassle. Furthermore, it will help promote safety as the users can only get information about authorised or verified ATMs nearby without running into fraud machines and ATMs.
8. Intuitive Interface and Ease of Navigation
If you somehow make your app’s UI complex or cluttered then you may lose your target audience and in the worst scenario, you may never get it back. Ensure your FinTech apps have an intuitive interface and ease of navigation feature which allows your users to go through the app seamlessly and conveniently. Furthermore, try to include “Voice Search” and “Typed Query” features to facilitate user navigation to the fullest.
9. Rewards and Incentives
This is what will attract your users the most. When you implement reward and incentive features, users will likely to more maximum financial transactions using your FinTech apps. When a user reaches a certain milestone, they can earn awards, bonuses, or cashbacks to pay off their credit card bills or make purchases.
10. Security
Last but not least, a user cannot compromise on the safety of their data. Thus, you should implement robust security measures in your FinTech app including two-factor authentication, data encryption, fingerprint scanning, facial recognition, and more. Not only does it help keep the information probate but it will also help users to protect their financial data.
Final Thoughts
So, there you have it! That’s a wrap to the 10 trending features to include in your FinTech App Development. With advancements in technologies like AI, machine learning, and blockchain, users can expect enhanced convenience, security, and personalized experiences.
Planning to include these trending features in your FinTech app? If so, look no further than “EitBiz”!
EitBiz is a leading FinTech app development company that is dedicated to offering inventive and intuitive fintech app development services that enable your users to manage their financial journeys with ease. Our team of FinTech app developers leverages the latest tech stack to build feature-rich, functional, responsive, secure, and scalable apps that foster user experiences and unmatched growth.
Call EitBiz at +1(812)530-6300 today or drop us an email at info@eitbiz.com to discuss your FinTech app development requirements.
Frequently Asked Questions:
- How can I improve my fintech app?
When it comes to improving the FinTech app, focus on enhancing user experience, incorporating the latest security measures, adding trending FinTech app features like AI-based analytics, biometric authentication, personalized financial advice, and ensuring seamless integration with other financial services. Regularly update the app based on user feedback and emerging trends.
- How much does it cost to build a fintech app?
The cost to build a fintech app varies widely depending on factors like app complexity, features, development team location, and project timeline. Generally, it can range from $10,000 to $50,000 or more.
