So you want to develop a fintech app but not sure where to get started? If yes, then read on. There is great income potential if you create a Fintech app as they can be one of the most profitable app ideas one can think of. These days, mobile payment apps, money management apps, and other finance related apps are emerging all over the world. And people are always looking for new apps that can solve their needs. So the question is, how to create a fintech app?
Well, in this article, I am going to guide you with this question only. So let’s just head into the topic without wasting much of the time about fintech app development:
One of the first steps is to identify a niche market before you can start following the other methods. As an app creator, you have to research and figure out what kind of problems users are facing in the finance niche market, and then you have to come up with a solution for it.
For example, if in your region, there are not so good investing apps available out there. Then you can come up with an app that allows users to make investments easily.
So you will need to put a lot of your time in researching the market, finding problems and think of solutions. Once you have the right product or app idea to offer. You can go for further steps.
In case if you are not a developer, then you will need to find a developer who can get the job done for you. There are two things that you can do in this case. First, you can hire a software development firm, or you can hire a freelancer.
The thing with a software development company is that they do charges you a lot. And you have to have a strong budget. While if you are low on the budget finding a freelancer would be a great choice. But Freelancers are not the most reliable option in the market.
However, as long as you are starting up and plan to launch your app in a small market, a freelancer might help you out. Additionally, you will also likely need UX help, especially if you're looking to have complex user flows. Hiring a fintech design agency could be a good option.
You cannot launch your app in full from all over the world. Since your app needs testing and as an app creator, you need to figure out whether your idea is really valid or not. Hence, it is advised to create an MVP or Minimum Viable Product.
An MVP contains a limited set of features and shows the basics of the app. So you can get feedback from the users and improve your app over time. Also, it gives you the opportunity to validate your idea before going in full form.
Once you are done developing the app, you will need to test it on several devices before you could do a public release.
Also, there are certain points where you need to pay special attention. For example, you have to ensure that the app is not lacking any kind of security or privacy issues.
After ensuring that everything is alright with your app, you have to release it. To release the app, you can try out different app stores like Google Play Store, Apple App Store, and others.
Also, after releasing the app, don’t sit back. Instead, you will need to start with the promotions and get as many downloads as possible.
The final stage would be to get feedback from the users and improve your app. To get feedback, you can check out comments on your Google play store or Apple app store’s app page. Or you can different surveys on your app only. Once you get the feedback, then see how you can improve the app and help your users out.
So that was an overview of how to create a fintech app. Getting done with fintech app development is not really a challenging task. But what is really challenging is to find an app market where your app can survive. Hopefully, the above guide will help you with your app journey. In case if you have any questions, do comment below.