Today almost everyone has at least one fintech application installed on their smartphone. That is why any modern financial organization must have its own application - such an application, which will make the performance of everyday functions more convenient.
Finance and information technology have come to a significant interaction, which allows to improve the work process and provides many benefits for both customers and companies.
Banking and financial services are a huge and complex branch of business, working with vast amounts of money and data, which requires high-security levels and serves different types of clients, from students to global corporations.
New fintech applications are launched every year. Most startups think their idea is innovative, but the reality is that as a result, less than 90% of startups implement their ideas and gain the approval of potential users. The other 10% face the challenges of expanding their enterprise and making these customers pay for their products.
At first glance, it doesn't take much to create a fintech app. It is enough to solve a particular financial problem, which potential customers face better than your competitors. But, in addition to a lot of money, the startup will need an army of talented fintech app developers and lawyers.
Selecting reliable and experienced fintech app development companies is an important decision on which your project's success depends
The main task of fintech applications development is to help users to solve their financial tasks with maximum simplicity for them.
- A fintech app development company must take care of security.
Your future users will have to trust you and provide all confidential and personal data. The fintech app development services should provide security. Once the development is complete, you should control the safety of the application.
- A fintech app development company must listen to the customer and its users.
The fintech app developers need to listen to the client and be ready to realize the most necessary features. Users are constantly using Fintech applications to manage their finances and control their debt situation, so they need the right features.
To avoid dissatisfaction, the interface of an app should be comfortable for users.
- A fintech app development company needs to use intelligent and modern technology.
New technologies are the basis of fintech applications. The various technologies that include Artificial Intelligence and Blockchain are essential, and the company is simply required to incorporate them into the future fintech application.
We've collected fundamental guidelines that will help you choose an experienced fintech app development company
Focus on the business tasks of the client
Understanding the client's business processes is necessary for creating a quality fintech application or any other.
An experienced fintech app development company considers the development of an application through the client's business objectives' prism. The goal is not just to develop an application but also to create a tool to achieve specific business goals.
It is possible to evaluate the company's qualifications already during the first communication with its representative.
Portfolio
The experience gained is another important criterion for deciding on cooperation with fintech app development companies. It is important to find out what projects the fintech app development company has implemented before. As a rule, companies with a good reputation gladly share links to their projects, place samples of their work on their website. Close examination of the portfolio will help to assess the quality, technical skills, and level of work.
Recommendations
The ideal option is to get feedback about the company from its previous customers. Contacts of existing and past customers can be requested directly from the company representatives. Feedback and recommendations can also be found on the Internet.
Team
The staff of developers can say a lot about the company. This is a kind of indicator of its success, the ability to implement a large project. However, you should choose a company based not only on quantitative but also on qualitative indicators. Learn what technologies will be used, and the team of which specialists are involved.
Project methodology
At the negotiation stage, it is worth asking what methodology is applied, and how the client is involved in the development process.
Feedback speed
A high level of responsiveness is highly appreciated in the IT business. Therefore, the IT company manager must respond quickly to customer requests. You can test the efficiency of managers' work by filling out a feedback form on the site.
Stability
Another important criterion is the financial stability of the company. It can be partially assessed based on information in open sources. Analyze the information field.
Price
In many cases, the price is a determining criterion for choosing an IT company as the high price does not indicate its quality. Fintech application development should be considered as an investment in future business success. First, look at the quality, then - the price.
