Technology

6 Features Every Fintech App Needs To Have In 2021

Fintech has reworked how people articulate with financial organisations. Consequently, customers expect these apps to be fast, easy, and visually attractive. Fintech apps are a one-stop solution for financial applications in today’s world. 

If you want to make money making apps, then taking a fancy to fintech apps is worth trying.

For a long time, financial apps were primarily enterprise applications that were not updated regularly. By and large, these applications were used mainly by internal team members for carrying out routine work. 

Of late, however, the perks of using financial tools have extended to high-value clients, for example, engineers and software professionals who expect elegant, effortless layouts — similar to other consumer apps they use.

Top Features For A Fintech App In 2021

There is a surging demand for financial applications to be updated. So, where to start? Below are six features that a fintech app must have to be popular in 2021.

1. Display The App’s Possibilities

More often than not, we block app usage to safeguard confidential financial information. Data protection is, indeed, necessary. But we can do that even while framing natural sticky techniques to drive utilisation. 

For instance, the app will have the upper hand over other apps or sites if the users need not register using a credit card or any other sensitive document.

2. Goal-Oriented Designs

Management of finances requires furnishing exact data. Precise information is the staple of financial operations. Hence, fintech apps need to prioritise versatile reporting on economic data, show progression towards a definite goal. 

The app should also feature excellent visuals displaying recommendations and possibilities. Fintech apps can help their client track information on income and expenses by dint of a graphical user interface. 

3. Winning Over Clients

The stakes in the financial sector are high as these services are immensely customised to suit client needs. Remember, you are managing your client’s future financial possibilities. 

However, you can win consumers’ confidence by creating space for interpersonal relationships. A broker knows their client’s financial aspirations. Fintech apps must replicate this user-centric approach through their apps to build trust.

These apps can provide a dashboard that can offer a general idea of a financial situation and an overview of their activity and performance based on the app specifications. This kind of personalization, alongside data security, builds trust between the app and its users. 

4. Targeting Millennials

Financial apps are primarily being created for the tech-savvy folks of the millennial generation. But the millennials tend to lack interest in investment options. Yet, the online market is flooded with so many apps customised expressly for this generation.

Millennials and Gen Z are associated with technology and bank on it way more than the previous generations. Thus, fintech apps can develop technology equipped with a user-friendly interface that is easy and fast. 

5. Be Unequivocal

There is a general distrust or fear of cybersecurity so far as safeguarding one’s financial data is concerned. To allay such apprehensions, the apps need to state their clauses loud and clear and build online trust. 

As a result, fintech apps should strive to be transparent regarding the information they will gather and the necessary steps they will take to safeguard it.

6. An App With Modernised Features

Fintech apps are designed to help people manage their financial assets via their smartphones. So, they must aim to provide state-of-art security, be user-friendly, and should have a practical value for those using the app. 

App Development Strategies

To successfully build a fintech app, you need a dedicated app development team that comprises an active bunch of talented professionals. Their sincere involvement in the job will help determine the strategies that can catapult your app to instant limelight. 

To live up to the customers’ expectations, the app must offer the following:

  • Flexibility
  • Availability
  • Scalability
  • Securing sensitive information

 You can uniformly take care of all these factors if you rope in a skilful team for the job.

Ways To Retain Fintech Apps Users

The market for mobile applications is ever expansive. But, it is an unforgiving business. Statistics show that smartphone users dump most mobile apps after using them only once.

The apps need to be very cautious to retain their users. Only a tiny segment of smartphone users use the same app more than once. 

To attract ever-increasing traffic for your fintech app, you need to deliver the services that you have promised. You need to provide a flexible and customised user interface (UI) also.

Visuals Sell The Best

A fundamental requisite for an app is to pave the way for an appealing visual presentation, besides enabling smooth access to data. No one wants to gaze at monotone stuff and figures, and clients may not garner interest to take in this type of data. 

Fintech apps can use visuals to gain more traffic. This is because the graphic presentation of facts provides users with clarity and guides them to a clear call to action.

For instance, if the users are going through the report on their monthly expenses, they may want information on what they expend the most on to save better the following month. 

Why Are Updates Important

Fintech apps must save room for their customers to send their feedback. Updates keep the apps up-to-date and provide your users with more of what they want. Providing some scope for feedback will also help these apps evolve constantly. 

Responses from the users provide an insight into the app’s performance. Developers can fix the glitches and make the app more relevant to their customers and release updates regularly. This ensures an improvement in its services and security issues. 

Closing Thoughts

To sum it up all, those aiming to design fintech apps should ensure that they give a clear idea of its services immediately. Winning the client’s trust is easy if the interface is easy to grasp.

The approaches mentioned above are truly unifying in nature, and using these features in fintech apps will modernise their services and help garner instant traffic. Above all, users always prefer using an app that is cost-effective and efficient.

If a fintech app has these features inbuilt in them, it will surely go places in 2021.

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Ifiokobong Ibanga

Ifiokobong Ibanga is the founder of InfoGuideNIgeria.com. You can get in touch with him on Instagram @ifiokobong. If you need a personal assistance on this topic, kindly send a message. Much Love!

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