Over the past few years, fintech applications have been popular with startups, banks, and financial institutions looking to grow their businesses and raise capital. The popularity and profitability encourage companies to increasingly seek help in creating fintech applications. Not just companies but also users benefit from these solutions, as they can easily and quickly access financial services with the help of technology, regardless of time. In this article, we will discuss why fintech web platforms development is important for the contemporary business environment.
Fintech Applications that will interest Customers
Companies, including financial institutions, are recommended to consider developing fintech web and mobile solutions aimed at a B2C audience. This will help achieve a positive user experience. If you can’t keep the customer with common solutions and you need to use something more innovative, then these applications can be made technological by adding some options to them.
Financial control solutions:
- expense management with built-in notifications on how savings can be kept;
- personal funds control, personal savings bot;
- analysis of the user’s financial transactions and personalized consultations;
- a smart digital savings box with a clear interface and the ability to transfer funds to a deposit.
Solutions for investing money:
- a bot that advises on portfolio diversification, as well as the feasibility of investing in a particular product;
- a service for controlling funds using technologies with artificial intelligence;
- automatic copy trading services;
- technologies for tracking quotes, as well as systems for notifying users about changes in the value of shares, cryptocurrencies
- automatic service for assessing the creditworthiness of consumers based on AI;
- automatic procedure for issuing microloans based on AI;
- P2P lending between consumers;
- chatbots for quick processing of loans
- digital wallet for use in the web version or on a mobile device that supports cryptocurrencies;
- the possibility of making auto payments (irregular and regular);
- risk assessment function of a particular transaction;
- a service for splitting a transaction into several recipients.
How to choose a company for fintech solutions development?
Over the past few years, in particular, due to the COVID-19 coronavirus pandemic, people have formed the habit of buying everything they need and managing their finances online. Millions of people have appreciated how convenient and completely safe it is. Connecting fintech solutions is suitable for those companies that plan to attract more customers and maintain market positions. Such a step will not bring any trouble to either small or medium-sized businesses, since there will be no need to be distracted by the development and support of the services necessary for this. Many fintech providers are ready to provide consumers with ready-made solutions, which, as a rule, just need to be customized. Let’s look at the most important things to consider while choosing a company to develop fintech products.
1. The platform must be stable
All connected functions must work properly 24 hours a day. There is nothing worse for a business when, at the peak of the load – for example, during a sale or a raffle – the platform crashes and customers cannot contact. There are both financial and reputational losses.
2. Cyber security
There should be no leaks. If important data falls into the hands of scammers, a business can suffer major losses. Therefore, it is worth choosing a company that uses solutions with an increased level of security. It is worth checking that the platform is PCI DSS certified.
3. Verified provider
The company must be experienced and expert enough to take on complex products with confidence and provide quality service.
4. Connection speed
The law of business is simple: the one who did the fastest wins. While one businessman connects to the necessary infrastructure, someone else sells competitive goods and services – and they are bought because it is easier to do so. In order not to trail behind, but to steer the market, you need to choose a fintech provider that offers connection by pressing a few buttons.
Aleph One helps businesses to keep up with the times
Fintech solutions are needed not only for individuals but also for legal entities. They have almost the same needs, but companies, having greater responsibility and ambitions, are still more interested in increasing team productivity, improving accounting, and automating certain work tasks. Thus, companies with impressive experience that use traditional B2B solutions can integrate more innovative technologies, in particular fintech solutions.
Aleph One provides professional fintech product development services. The success of any fintech project depends entirely on the choice of a worthy developer company. In order to draw up an implementable plan, as well as accurately determine the cost of the project and the time that needs to be spent on its development, you should first draw up a technical task. In general, the cooperation between the customer and the development company can be divided into the following stages:
- formation of technical specifications;
- negotiation of conditions with the customer;
- project development;
- implementation of internal testing;
- transferring the product to the customer.
In addition to the competent preparation of technical specifications, compliance with deadlines plays an important role in the implementation of fintech projects. Compliance with the agreed deadlines indicates not only the company’s comprehensive approach to the development of the project but also the reliability of the contractor in front of the client. For example, if the deadline for one of the stages is changed, then unforeseen changes will occur in the remaining stages. When working with freelancers, you may encounter regular delays in deadlines, which can negatively affect the quality of the project and the final date of its completion. Constant changes to deadlines can lead to:
- loss of profit
- sales of a low-quality product
- threats of not completing the project.
It is recommended to cooperate only with professionals for the development of fintech projects. Aleph One specialists are ready to develop a quality solution that meets all security standards and can withstand any workload. At the same time, the company guarantees the completion of all stages of the project on time.
The fintech industry is growing and becoming more influential every year, so Aleph One helps customers from all industries to get the maximum benefit and new opportunities from it. The company uses modern financial technologies to create innovative fintech solutions.