How To Build a Fintech App in 2024: ultimate guide


We'll walk you through various fintech solutions and share with you some of the strategies for building successful  financial apps. Learn from the common mistakes mistakes and avoid high development costs with development binging.  in this article we will cover the following topics:

•Monetization Secrets
•App Varieties Unveiled
•Key Must-Haves
•Tech Toolbox
•Cost Breakdown

Building Fintech Apps for a Growing Market

Since the year 2020 which was a turning point across industries globally. The onset of lockdowns and the shift to remote work triggered a profound transformation. While these changes initially seemed disruptive, they also catalysed an era of innovation and adaptation, especially evident in the financial sector.

Percentage of digitally active consumers who use fintech

The shift towards remote working created a surge in demand for digital financial services. Suddenly, mobile banking, seamless digital payments, and swift money transfers took center stage as people navigated transactions from the comfort of their homes. This change in consumer behaviour became a catalyst for significant growth and evolution within the fintech landscape.
Key digital technologies that fintech plan to invest in the next 12 months

The impact of these changes was substantial, reflected in the staggering surge of investments in fintech throughout 2021. In the first three quarters alone, investments soared to an unprecedented $91.5 billion, nearly doubling the entire investment of the previous year. This surge captured widespread attention, evidenced by the emergence of several unicorns, as reported in CBInsights' State Of Venture Q3 ’21 report.

The current landscape presents an opportune moment for both established financial institutions and agile fintech startups to innovate further. The focus is on creating transformative applications that will redefine the future of the financial industry. This wave of innovation has the potential to unlock new value chains, influencing both local and global markets across various spheres, including consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) interactions.


Six steps to building a successful Fintech App

Before diving into coding your financial management product or suite of investment apps, ensure financial and organisational readiness. Begin by thoroughly reviewing your pre-flight checklist.The development process involves several crucial steps, starting from initial planning and progressing through coding phases.

Understanding your niche

Understanding your niche is a pivotal step that requires thorough consideration. Conducting market analysis to identify untapped opportunities often demands the eye of a business analyst. Once you've grasped in on a general idea, you're primed to begin.

Crafting Your Monetisation Model

In the initial stages, refrain from overwhelming your Minimum Viable Product (MVP) with numerous monetisation models. Opt for the most suitable one for your pilot version, allowing room to expand as you uncover fresh prospects and delineate additional revenue streams. Prioritise simplicity and feasibility in its implementation for now.

Navigating Compliance

For fintech software and fintech apps, compliance extends beyond adhering to app store guidelines. Depending on your target market, diligent compliance research is crucial to identify legal obstacles and constraints. Adjust your development process accordingly to ensure compliance, possibly necessitating rigorous quality assurance practices with a heightened emphasis on security and penetration testing. Understanding the regulatory requirements is paramount before development begins, a good vendor should help you in this path. 

Defining MVP Features

Outline the core values and user stories that will shape the foundational functionality of your initial release. Maintaining a lean approach is key—curb scope creep to prevent unnecessary delays. Subsequently, expand the app's capabilities based on customer surveys, A/B testing, and the evolving product vision. Complete guide to having a successful MVP here.

Collaborating with a Vendor

If your internal team lacks the expertise to fully realise the product, collaborating with a reputable fintech software development company can be advantageous. They can offer guidance on leveraging open-source components to kickstart your project efficiently and cost-effectively. It’s important that your vendor is either exclusively building fintech apps or has done some.

Launch, Gather Feedback, and Refine

Perfection on the first try is unlikely in software product development, whether you're creating insurance apps, budgeting tools, innovative payment solutions, or other financial software. Embrace the iterative nature of this process. Post-launch, gather feedback meticulously and commit to continuous improvements and optimisations to enhance your offering.


Sample Features 



Streamlined Banking
Ensure ease in managing funds, debit/credit cards, and checking/savings accounts. Prioritize a user-friendly approach for customers handling their bank accounts within your app.
Enhanced Automation
Implement advanced automation to minimize delays in critical business workflows. Elevate the customer experience by accelerating the processing speed of application data.
User-Friendly Accessibility
Prioritize a seamless user experience, especially for on-the-go usage. Ensure that your target audience can achieve their objectives within a few taps, optimizing accessibility to essential tools and features.
Insightful Analytics
Post-launch, prioritize enabling business analysts to work effectively. Utilize cloud technology to gather valuable app usage data, derive actionable insights, and regularly enhance your service based on these findings.
Adaptable Design
Design your fintech app with customization in mind. Allow users to tailor the interface to their preferences, accommodating both minimal and detailed views based on individual needs.
Robust Data Protection
Prioritize security when handling users' finances and sensitive data. Employ biometric ID, fingerprint scanning, two-factor authentication, and anti-fraud tools to ensure comprehensive data security from end to end.
Graphical Insights
Offer users more than just numbers. Provide easy-to-grasp visuals like charts and diagrams highlighting financial trends. Use color-coded indicators, like green and red, for clear status updates on monitored parameters, ensuring quick comprehension.
AI-Driven Suggestions
Leverage AI's capacity to handle vast unstructured data and predict users' next needs based on their prior actions.Deep personalization reigns supreme. Incorporate AI into your fintech project to accelerate and enhance user-specific experiences.
User Communication
Keep users updated on account changes and relevant opportunities. Utilize push notifications and omni-channel messaging to ensure comprehensive communication and timely updates for users.
Bridging Fintech with Banks
Despite fintech's independence, it heavily relies on traditional banks and their extensive infrastructure. Integrating bank APIs allows access to crucial data like financial transactions and loan histories, enhancing the overall functionality of your app.
Intelligent chatbots
Although nothing can replace a real human, AI-powered chatbots are a proven method of improving customer service and making it available 24/7/365. They provide a user-friendly interface for making common inquiries while keeping the cost of the service at a minimum.


Estimating Costs for Fintech App Development

In software development, a one-size-fits-all approach rarely applies. Each application carries its unique development cost, particularly true for intricate financial products entailing multiple integrations, robust security measures, and innovative technologies at various levels.

Hence, if you're considering the creation of a fintech app, anticipate fluctuating estimates, particularly in the early stages when the scope often expands while determining the MVP's features.

Nonetheless, rough estimations can still be outlined for typical fintech apps, drawing from industry benchmarks. Expect a range from $100,000 to $300,000 for a foundational app catering to iOS and Android platforms. For more intricate financial solutions encompassing multiple monetization models, extensive features, and third-party integrations, budgets may soar from $800,000 to over $1,000,000. These figures serve as general guidelines within the market's parameters.

Find out how at neko Solutions we could significantly reduce the costs of building your Fintech software.


Making Money with Your Fintech App

Entering the realm of fintech app development necessitates a strategic approach to revenue generation. The initial step involves decisively selecting a primary method to generate income. This fundamental decision lays the groundwork for the app's financial success.

However, this choice isn't static. As your app progresses and garners a user base, there's ample opportunity to diversify revenue streams. This growth allows for the incorporation of additional functionalities and services, each aligned with distinct monetization strategies. This flexibility to expand and evolve is pivotal in staying competitive and meeting the changing demands of the market.

The cornerstone of these monetization strategies lies in determining who bears the financial burden within the app's ecosystem. This could be the end-users themselves, third-party services or sellers partnering with your app, or even the beneficiaries of the transactions facilitated by your app's services.


Subscription Dynamics in Fintech

•Trial Periods and Feature Exploration: Fintech apps often offer trial periods allowing users to explore their suite of financial services. During this phase, users delve into features such as budgeting tools, investment analysis, or personalized financial advice, experiencing the app's capabilities.

•Scheduled Payments: After the trial, users subscribe to the service and are billed at regular intervals—weekly, monthly, or yearly—for continued access. These intervals align with the app's financial tools, like budget tracking, investment portfolio management, or premium banking features.

•Tailored Plans: Fintech subscription models frequently offer various plans catering to diverse financial needs. These could include basic budgeting packages, premium investment analysis, or comprehensive financial planning services, allowing users to choose based on their requirements.

Key Considerations in Fintech Subscription Models:

•Continual Value Delivery: Fintech subscriptions thrive on providing ongoing value, whether it's through real-time financial insights, personalized recommendations, or security enhancements. Consistently improving and innovating financial tools is crucial in retaining subscribers.

•Predictable Revenue for Financial Growth: The subscription model ensures a predictable revenue stream, aiding fintech companies in financial forecasting and strategic planning for future services or feature enhancements.

User Trust and Data Security: As fintech apps handle sensitive financial data, establishing and maintaining trust is paramount. Ensuring robust security measures and compliance with regulations fosters trust among users, encouraging continued subscription renewals.

Fintech Subscription Success Stories:

Within fintech, subscription models have been embraced by platforms like personal finance managers, investment analysis tools, and premium banking services. Companies like Robinhood, Acorns, and YNAB (You Need A Budget) offer subscription-based models for their comprehensive financial services.

Evolution and Adaptation:

Fintech subscription models evolve in response to changing financial landscapes and customer needs. They adapt by introducing new financial products, enhancing security measures, or expanding service offerings to stay competitive and relevant.


In the fintech sphere, subscription-based revenue models play a crucial role in providing users with ongoing financial insights and services while ensuring a steady income stream for companies. The key lies in consistently delivering value, enhancing financial experiences, and adapting to the ever-evolving financial needs of consumers.


Transactional Charges

Transactional charges serve as a fundamental revenue model in the fintech space, particularly prevalent in mobile payment and money transfer apps. Here's a detailed exploration of this model:

Nature of Transactional Charges:

•Application of Fees: Fintech apps implementing transactional charges apply fees either universally to all transactions or selectively based on specific transaction types. These fees can cover various financial activities like money transfers, currency conversions, or in-app purchases.

•Examples of Fee Structures: Companies such as Payoneer and WorldRemit have successfully adopted this model. They offer competitive rates for global transfers, making cross-border transactions more accessible and affordable for users.

Integration with Revenue Strategies:

•Supplementary Income Stream: Transactional charges complement other revenue models, such as subscription-based services. They act as an additional source of income, diversifying the revenue stream of fintech apps.

•Primary Revenue Source: In certain cases, especially for apps heavily focused on facilitating financial transactions, these fees become the primary income generator. The app's entire business model revolves around these transactional charges.

Key Considerations for Transactional Charges:

•Competitive Pricing: Offering competitive rates is crucial in attracting users and retaining them. Lower fees compared to traditional financial institutions or competitors often serve as a compelling reason for users to opt for these fintech apps.

•Transparent Fee Structure: Clear and transparent communication about the fee structure is essential. Users should be fully aware of the charges they'll incur for each transaction type, promoting trust and avoiding surprises.

Success Stories and Industry Impact:

•Enhanced Accessibility: Transactional charges have revolutionized global financial accessibility. They've made it feasible for users worldwide to engage in cross-border transactions more affordably, fostering financial inclusivity.

Market Disruption: Companies implementing this model have disrupted traditional banking and financial systems by providing more accessible and cost-effective alternatives, especially for international money transfers.

Evolution and Adaptation:

Fintech apps employing transactional charges continuously refine their fee structures, considering factors like market demands, regulatory changes, and user preferences. They adapt to technological advancements to streamline transactions and possibly reduce associated costs.


Transactional charges represent a significant revenue avenue for fintech apps, particularly those focusing on facilitating financial transactions. Their success hinges on offering competitive rates, maintaining transparency, and contributing to the overall financial accessibility and convenience for users in an increasingly globalized world.


Advertising and Referrals

Advertising and referrals constitute a dynamic revenue stream within the fintech domain, particularly when user bases expand significantly. Here's an in-depth exploration of this model within the fintech landscape:

Nature of Advertising and Referrals:

•Growth-driven Revenue: As fintech apps amass a larger user base, the potential for leveraging targeted advertisements and referrals from relevant advertisers increases. These ads are tailored to users' financial behaviours and preferences, enhancing their relevance and potential conversion rates.

•User Benefits: Users often access fintech services for free while being exposed to these tailored commercial offers. This model allows users to utilize core app functionalities without direct charges, fostering accessibility while indirectly contributing to revenue generation.

Mechanics and Monetization:

•Revenue from Conversions: Fintech companies earn revenue based on user actions, such as clicking on ads or making purchases through referral links. Each successful conversion, where a user engages with the advertised product or service, contributes to the app's revenue stream.

•Case Studies: Mint, for instance, integrates this strategy within its free version. Users benefit from financial management tools without direct charges while encountering targeted ads. Mint also supplements this revenue stream with additional income sources, such as premium services like ongoing credit score monitoring, diversifying their income streams.

Key Considerations for Fintech Advertising and Referrals:

•Relevance and User Experience: The success of this model lies in the relevance of the advertisements and referrals to the user's financial needs and preferences. Maintaining a positive user experience through non-intrusive, targeted ads is essential for retention.

•Conversion Optimization: Fintech apps aim to optimize conversions from these advertisements and referrals, focusing on compelling content, clear calls-to-action, and user-friendly interfaces to encourage engagement.

Industry Impact and Success Stories:

•Monetizing User Base Growth: Fintech companies effectively capitalize on the expanding user base by leveraging targeted ads and referrals, converting user engagement into revenue.

•Diversified Revenue Streams: This model contributes to diversifying revenue sources for fintech apps beyond direct user fees or transactional charges, providing financial stability and reducing dependency on specific income streams.

Evolution and Adaptation:

Fintech apps continually refine their advertising and referral strategies, adapting to changing market dynamics, user behaviour, and evolving advertiser needs. They incorporate innovative technologies like AI-driven ad targeting to enhance effectiveness.


Advertising and referrals within the fintech sphere play a significant role in monetizing user growth. When executed effectively, this model allows fintech apps to provide free core services while generating revenue through targeted advertisements and referrals, contributing to financial sustainability and user accessibility.


Data Sales

Data sales within the fintech industry represent a lucrative avenue for monetisation, leveraging the valuable financial information amassed by fintech apps. Here's a comprehensive exploration of this model within the fintech landscape:

Nature of Data Sales in Fintech:

•Data Accumulation: Fintech apps routinely collect a wealth of financial data from users, encompassing spending habits, transaction histories, investment patterns, budgeting behavioUrs, and more. This data is a treasure trove of insights into user financial behavioUrs and preferences.

•AnonymiSed Data Sales: Fintech firms often sell access to this aggregated and anonymiSed data to interested third parties, ensuring user privacy while offering valuable insights into broader financial trends and consumer behaviour.

Monetization Mechanics:

Revenue Generation: Fintech companies monetise this data by charging access fees or subscription-based models for third-party entities seeking to utilise this data for their analytical and strategic purposes.

Third-Party Interest: Interested parties, such as financial institutions, marketing agencies, or researchers, seek access to this anonymised financial data. They aim to refine their marketing strategies, improve product offerings, or enhance their AI and machine learning algorithms by leveraging high-quality, real-world financial data sets.

Key Considerations for Fintech Data Sales:

•Data Privacy and Compliance: Ensuring robust data privacy measures and compliance with regulations (like GDPR or CCPA) is paramount. Fintech companies prioritise user privacy and security while monetising aggregated, anonymised data.

•Value Proposition: Maintaining the value and integrity of the data is crucial. Fintech firms offer valuable insights derived from this data to attract and retain third-party clients seeking actionable information for their operations.

Industry Impact and Success Stories:

•Enhanced Business Intelligence: Fintech companies' data sales contribute to enriching the business intelligence of interested third parties, enabling more informed decision-making and targeted strategies.

•Mint's Data Insights: Mint, among others, engages in this practice, offering valuable insights derived from anonymized financial data. This not only supplements their revenue streams but also establishes them as a reliable source of financial intelligence.

Evolution and Adaptation:

Fintech companies continually refine data aggregation methods and data sales strategies. They adapt to changing market demands, technological advancements, and evolving data privacy regulations to ensure the continued value and relevance of the offered data insights.


Data sales in fintech play a pivotal role in generating revenue by monetising the wealth of anonymised financial data collected from users. When executed ethically and securely, this model benefits both fintech firms and interested third parties by providing valuable insights into consumer behaviour and financial trends while safeguarding user privacy.


API Access for Sale

API (Application Programming Interface) access for sale is a significant revenue model within the fintech sphere, especially prevalent among companies managing payment gateways and associated services. Here's a detailed exploration of this model within the fintech landscape:

Nature of Data Sales in Fintech:

•Facilitating Seamless Integration: Fintech companies offer APIs, enabling other businesses to integrate their services directly into their software applications. These APIs act as a bridge, allowing smooth communication and functionality between different systems.

•Example: Stripe's Global Payments API: Stripe provides a notable example. Their API simplifies global payment processing for millions of businesses worldwide. By leveraging Stripe's API, businesses bypass the need to build complex payment systems from scratch, saving time, resources, and compliance efforts.

Monetization Mechanics:

•Subscription-based Access: Fintech companies monetize API access through subscription models. Interested businesses pay a recurring monthly fee for access to the API functionalities.

•Resource-Based Charging: Providers often charge based on the usage of API resources by customers. This could involve pricing tiers depending on the volume of API calls or specific functionalities accessed.

Key Considerations for Fintech API Access Sales:

•Functionality and Reliability: Fintech companies ensure their APIs offer robust functionalities and reliable performance, meeting the diverse needs of businesses seeking integration.

•Scalability and Customisation: APIs should be scalable to accommodate businesses of varying sizes and requirements. Additionally, offering customisable features or pricing plans enhances their appeal to a broader range of clients.

Industry Impact and Success Stories:

•Streamlining Business Operations: Fintech APIs streamline and enhance business operations by offering ready-to-use functionalities without the need for extensive development efforts.

•Stripe's Success: Stripe's API-driven approach has revolutionised global payments, enabling businesses, from startups to enterprises, to swiftly implement secure and compliant payment processing solutions.

Evolution and Adaptation:

Fintech companies continuously evolve their APIs, incorporating new features, improving functionalities, and adapting to changing industry standards and technological advancements to meet evolving business needs.


API access for sale in fintech provides a valuable opportunity for businesses to integrate sophisticated financial services seamlessly. When executed effectively, this model allows fintech companies to generate revenue by offering subscription-based access to APIs, simplifying complex financial functionalities and empowering businesses to focus on their core operations.


Top Performing Fintech Apps in 2023

The fintech landscape is an expansive universe, ever-expanding and continuously transforming with a myriad of verticals and innovative business models. It's a dynamic realm where technology intersects with finance to reimagine how individuals, businesses, and industries interact with money, investments, and financial services.

At its core, fintech encapsulates a diverse spectrum of technologies, applications, and solutions that disrupt, redefine, and streamline traditional financial systems. From pioneering startups to established enterprises, the fintech ecosystem encompasses an array of cutting-edge innovations, driving forward the evolution of financial services.

Within this vast and rapidly evolving space, numerous trending domains stand out, actively harnessing the power of financial technology to reshape conventional practices and cater to emerging needs. These domains serve as hotbeds of innovation, fostering the development of groundbreaking solutions that address crucial aspects of modern finance.

Transaction value by fintech segment

For those considering venturing into the creation of fintech applications, exploring these trending categories could serve as an invaluable source of inspiration and insight. Understanding the nuances and dynamics of these domains not only unveils potential opportunities but also offers a glimpse into the evolving needs and preferences of consumers in the financial landscape.

Let's embark on a journey through some of these thriving domains, delving into their intricacies, exploring their disruptive potential, and uncovering the ways in which they leverage technology to revolutionize financial services. Whether you're an aspiring fintech entrepreneur, a seasoned developer, or an enthusiast intrigued by the future of finance, these categories within the fintech realm hold the promise of inspiration and innovation.


Digital Banking

Traditional banking apps have become an indispensable part of the modern smartphone ecosystem, serving as a ubiquitous tool that directly interfaces with users' bank accounts. These applications serve a fundamental role in managing various facets of individuals' financial lives, offering a seamless gateway to a multitude of banking services and functionalities.

At the core of these apps lies their ability to streamline everyday financial tasks, empowering users to handle a range of banking operations conveniently from their smartphones. From the straightforward execution of bill payments to facilitating SWIFT transfers and enabling real-time expense tracking, these applications serve as digital hubs that centralize and simplify numerous financial activities.

The development and operation of these traditional banking apps predominantly stem from established financial institutions and emerging fintech entities alike. Institutions with a legacy in banking, as well as innovative third-party disruptors such as Chime and Atom Bank, are at the forefront of creating and shaping these apps. They leverage technology to bridge the gap between traditional banking services and the demands of a digitally-driven consumer base.

These apps act as a pivotal bridge, facilitating a harmonious integration between users and their banking needs. They provide a user-friendly interface, ensuring accessibility and convenience while adhering to stringent security measures to safeguard sensitive financial information.

Furthermore, the evolution of these apps is a testament to the ongoing transformation within the banking sector. They not only cater to the fundamental financial tasks but also evolve to incorporate cutting-edge features, such as AI-driven financial insights, predictive analytics for spending patterns, and enhanced customization to suit individual preferences.

The global prevalence of these banking apps underscores their significance in modern financial landscapes, where users increasingly rely on the convenience and accessibility offered by mobile technology. As these applications continue to evolve, driven by the evolving needs and preferences of users, they play a vital role in shaping the future of banking by seamlessly integrating traditional banking services into the digital realm.


Payments and Money Transfers

The landscape of financial transactions has undergone a significant shift, moving away from slow and inflexible traditional banking methods towards faster and more versatile online payments and transfers. This transformation has been notably propelled by the rise of contactless payments and QR code transactions, which are steadily gaining traction in various sectors of the economy.

The advent of contactless payments, facilitated by technologies embedded in credit and debit cards, smartphones, and wearables, has revolutionised how individuals and businesses conduct transactions. This seamless and efficient payment method has become increasingly popular due to its convenience and speed, especially in situations where swift transactions are crucial, such as retail, public transportation, and dining.

Similarly, the emergence of QR code transactions has offered a versatile alternative, enabling payments through a simple scan, making it a prevalent method in diverse settings, including retail stores, restaurants, and peer-to-peer transactions.

Companies such as Klarna, Venmo, Stripe, Payoneer, Wise, PayPal, and Revolut have played pivotal roles in reshaping the landscape of individual and business payments. Their innovative platforms and services have democratised financial transactions, offering user-friendly interfaces, enhanced security measures, and diverse payment options tailored to meet the evolving needs of consumers and businesses alike.

For instance, Klarna has redefined the retail experience by providing flexible payment solutions, allowing consumers to buy now and pay later. Venmo, known for its peer-to-peer payment system with social features, has transformed how individuals split bills or pay friends and family. Companies like Stripe and Payoneer have revolutionised the payment ecosystem for businesses, offering seamless online payment processing and global payout solutions.

Additionally, Wise, PayPal, and Revolut have been instrumental in facilitating international transactions, enabling individuals and businesses to send and receive money across borders with reduced fees and favourable exchange rates, thereby fostering global financial inclusion and accessibility.

As these innovative companies continue to push the boundaries of financial technology, the landscape of payments and transfers is expected to further evolve, catering to the ever-changing demands of a digitally-driven society while prioritising speed, security, and accessibility in financial transactions.



The meteoric rise of cryptocurrency has become a driving force behind the growth of the fintech industry, evident in the proliferation of various crypto-related entities such as crypto-exchanges, investment platforms, and multi-currency wallets. These platforms not only support a diverse array of fiat and digital currencies but also cater to the increasing demand for seamless and secure management of cryptocurrency portfolios.

Cryptocurrency exchanges serve as essential hubs where individuals and institutions buy, sell, and trade digital currencies, facilitating the exchange of cryptocurrencies for fiat money or other digital assets. These platforms, exemplified by entities like Binance, Coinbase, and Kraken, have become key players in the global financial landscape, offering user-friendly interfaces and robust security measures to instill confidence in users conducting crypto transactions.

Additionally, investment platforms specializing in cryptocurrencies have emerged, enabling users to invest, trade, and diversify their portfolios with various digital assets. These platforms often provide tools for portfolio management, real-time market analysis, and educational resources, empowering both novice and experienced investors to navigate the volatile cryptocurrency market effectively.

Multi-currency wallets have also gained prominence, offering a single platform for users to store, manage, and transact with different fiat and digital currencies. These wallets, such as Exodus, Trust Wallet, and Ledger, not only support multiple cryptocurrencies but also emphasize security features like private keys and encryption to safeguard users' digital assets.

Moreover, the integration of blockchain technology has further bolstered the security and integrity of these fintech solutions. Blockchain, a decentralized and immutable ledger, is leveraged by several crypto-related platforms for secure data storage, transparent transaction records, and enhanced verification processes. This innovative use of blockchain technology ensures data integrity, reduces the risk of fraud, and fosters trust among users engaging in crypto transactions.

As the fintech industry continues to evolve in tandem with the rapid expansion of cryptocurrencies, these advancements underscore the transformative potential of digital currencies in reshaping financial ecosystems worldwide. The convergence of cryptocurrency and fintech not only facilitates access to innovative financial solutions but also signifies a paradigm shift towards decentralised and inclusive financial systems poised to redefine the future of finance.

Robo-Advising and Stock Trading

The complexities of the stock market have fueled a burgeoning need for automation and the utilisation of cutting-edge AI and machine learning (AI/ML) algorithms in trading practices. This imperative has given rise to a new breed of financial technology solutions designed to navigate the intricate dynamics of the stock market.

Robo-advisors have emerged as innovative platforms at the forefront of this transformation, providing cost-effective solutions for wealth management and investment strategies. Companies like SigFig, Robinhood, Wealthfront, Betterment, and Moneyfarm have pioneered the development of robo-advisory services that cater to investors seeking streamlined and automated investment management.

These robo-advisors leverage sophisticated algorithms driven by AI and machine learning to analyse market trends, assess risk profiles, and construct diversified investment portfolios. By utilising AI/ML technologies, these platforms offer personalized investment advice and automated portfolio rebalancing, aligning with investors' financial goals and risk tolerances.

SigFig, for instance, harnesses AI algorithms to provide users with data-driven insights and customised investment strategies. Robinhood, known for its user-friendly interface and commission-free trading, employs technology to democratise access to stock trading for novice investors. Wealthfront and Betterment offer automated investment management services, optimising portfolios based on users' financial objectives and risk preferences. Meanwhile, Moneyfarm specialises in providing diversified portfolios and personalised advice through its AI-driven investment platform.

These robo-advisors not only offer convenience and accessibility but also democratise investment opportunities by minimizing barriers to entry. By combining advanced technology with financial expertise, these platforms empower users to make informed investment decisions while mitigating risks and optimising returns.

The integration of automation and AI/ML algorithms in the realm of stock market investing signifies a shift towards more efficient, data-driven, and user-centric financial services. As these technologies continue to evolve, the role of robo-advisors in wealth management and investment advisory is expected to expand, reshaping the landscape of the stock market and fostering greater financial inclusivity and accessibility for investors of all backgrounds.


Insurers in the modern era are increasingly turning to advanced technologies such as AI and big data to revolutionise the insurance landscape, offering tailor-made policies that resonate with individual customer needs. The marriage of these technologies allows insurance providers to delve deeper into customer preferences, behaviours, and risk profiles, enabling the creation of highly personalized insurance solutions.

By harnessing AI algorithms and analysing vast pools of big data, insurance companies can gain invaluable insights into customer behaviours, lifestyle patterns, and historical data. This in-depth understanding facilitates the customization of insurance policies to better suit individual requirements while ensuring compliance with stringent legal standards and regulations.

The integration of AI and big data into insurance practices marks a significant shift towards customer-centric offerings. Companies leveraging these technologies, whether in property, health, auto, or life insurance, are able to offer policies that align more closely with the specific needs and risk profiles of their clients.

These tech-infused insurance providers blend cutting-edge technology with their insurance offerings, striving to enhance customer experience, mitigate risks, and streamline claims processes. By deploying AI-powered chatbots and virtual assistants, they optimize customer interactions, offering real-time assistance and personalised guidance throughout the insurance journey.

For instance, insurers like Lemonade and Oscar Health leverage AI and big data to streamline the underwriting process, assess risks more accurately, and expedite claims settlements. They prioritise customer-centric approaches, ensuring that insurance policies are not only comprehensive but also resonate with the unique preferences and requirements of individual policyholders.

This innovative fusion of technology and insurance services is reshaping the insurance landscape, offering a glimpse into a future where policies are not only tailored but also more accessible, transparent, and aligned with evolving customer expectations. As AI and big data continue to evolve, their integration into insurance practices is expected to further refine the customisation of policies and improve overall customer satisfaction within the insurance industry.

Budgeting and Financial Planning

Applications such as PocketGuard, Honeydue, Personal Capital, and Mint are revolutionising how individuals approach financial management by offering sophisticated tools that empower informed decision-making. These apps serve as invaluable companions on the journey towards financial wellness, providing comprehensive functionalities that go beyond simple expense tracking.

At the core of their offerings, these apps enable users to effortlessly monitor their expenses, categorise transactions, and gain insights into their spending habits. By leveraging intuitive interfaces and advanced algorithms, they provide real-time updates and alerts, cautioning users against potential overspending and nudging them to stay within their budgetary constraints.

What sets these apps apart is their ability to simplify financial complexities through user-friendly interfaces and robust features. They not only track expenses but also assist in creating and maintaining budgets, fostering financial discipline and promoting smarter spending habits.

PocketGuard, for instance, offers a straightforward approach to expense tracking and budget management, providing users with a clear overview of their financial health. Honeydue focuses on collaborative financial management for couples, allowing partners to manage finances together seamlessly. Personal Capital provides holistic financial planning by integrating investment tracking and retirement planning alongside expense management. Meanwhile, Mint stands out for its comprehensive suite of tools, including credit score monitoring and bill tracking, enhancing its users' financial awareness.

The exceptional user interfaces of these apps contribute significantly to their appeal, making financial management more approachable and engaging for users. Their intuitive designs and user-centric functionalities simplify complex financial data, presenting it in an easily understandable format, thereby empowering users to make informed financial decisions.

By harnessing technology to streamline financial processes and promote financial literacy, these apps are not just tools but allies in users' journeys towards financial empowerment and stability. As they continue to evolve and refine their features, they are expected to play an increasingly pivotal role in shaping individuals' financial habits and fostering a more financially savvy society.

Lending and Financing

Micro-financing and point-of-sale (POS) lending apps have surged in popularity, riding the wave of online shopping trends and the evolving consumer landscape. These platforms cater to the growing need for swift and flexible financial solutions, standing out as agile alternatives to traditional banking systems.

Their appeal lies in the seamless and expedited access to funds they provide, aligning perfectly with the rapid pace of online commerce. Unlike the bureaucratic processes often associated with traditional banks, these apps offer unparalleled speed and agility in facilitating small-scale loans and credit at the point of sale, transforming the shopping experience for consumers.

Particularly noteworthy are peer-to-peer (P2P) lending services, enabling direct borrowing and lending transactions between individuals, cutting out intermediaries. These platforms leverage technology to match borrowers with lenders, providing a streamlined process that's both cost-effective and efficient. They charge a commission or fee per transaction, making the lending process transparent and accessible for individuals seeking loans outside the conventional banking system.

The allure of these micro-financing and POS lending apps extends beyond just speed and flexibility. They prioritise convenience by offering user-friendly interfaces and simplified application procedures, making it easier for users to access credit when needed, even for smaller amounts.

Furthermore, these platforms leverage innovative financial technologies to assess creditworthiness and mitigate risks, enabling them to extend credit to a wider pool of users who may have been overlooked by traditional lending institutions.

This disruptive approach to lending is reshaping the financial landscape by democratising access to credit and empowering individuals with more control over their financial lives. As these apps continue to evolve, they're expected to further refine their offerings, ensuring that borrowers and lenders alike benefit from the speed, flexibility, and accessibility inherent in these innovative financial solutions.

Unveiling Fintech Tech

To grasp the prevalent technologies in fintech app development, examining trending fintech apps/services offers valuable insights into their shared technological foundations.


•Cloud services:
•DevOps solutions: Docker, New Relic.
•Frameworks: PowerShell.
Programming languages: Python, JavaScript, PHP, Java, TypeScript, C, C#, Ruby, Go, Objective-C, Kotlin, Go, Scala, Elixir, Rust, Perl, CoffeeScript, ActionScript, Erlang.
Extras: Apex, nginx, SendGrid.


•Cloud services:
Google Cloud.
Databases and stores: PostgreSQL.
DevOps solutions: Docker, Git, Visual Studio, Bitbucket.
Frameworks: Gatsby, Node.js
Programming languages: Java, JavaScript, Kotlin, Python, Scala, Swift, TypeScript.
Extras: nginx.


Cloud services:
DevOps solutions: Docker, CMake.
Frameworks: Backbone.js, PowerShell.
Programming languages: JavaScript, PHP, Python, Java, TypeScript, C#, Ruby, Go, Swift, Objective-C, C++, C, Perl, Lua.
Extras: nginx, Amplitude, Braintree.


Cloud services:
Databases and stores: Redis, PostgreSQL, Kafka, Realm.
DevOps solutions: GitHub, Docker, Visual Studio, Selenium, Gradle.
Frameworks: Node.js, Vapor.
Programming languages: Python, Java, Kotlin, TypeScript, Swift, Julia.
Extras: Ubuntu, nginx, Debian, Postman.


Cloud services:
Databases and stores: Citus, Kafka, Snowflake.
DevOps solutions: GitHub, Kubernetes, Visual Studio, CircleCI.
Frameworks: React Native, Ruby on Rails,
Programming languages: Elixir, JavaScript, Ruby,Extras: Looker, Optimizely, Plaid, Segment.

This leads us to the following — although largely approximated — tech stack for for web and mobile:

Programming languages (web and mobile for iOS and Android): Python, JavaScript, Java, C/C++, Ruby, Kotlin, Objective-C, Swift, Go, Scala, Rust, Elixir, Lua, TypeScript
Frameworks (backend, frontend, cross-platform): React, React Native, Node.js, Django, Ruby on Rails, Spring, Xamarin, Ionic, Angular, Vue, Flutter
Databases: PostgreSQL, MySQL, MongoDB, Redis, Kafka, Citus, Snowflake, Realm


Empowering Your Fintech Vision: Neko Solutions' s Expertise for Startup Success

With a proven track record of crafting fintech applications over several years, Neko Solutions has amassed extensive expertise in this domain. Our wealth of knowledge, fused with hands-on experience collaborating with startups, positions us as an ideal partner for aspiring businesses seeking to enter the flourishing financial services market.

Connect with our presale team to embark on a comprehensive journey. We're committed to guiding you through the entire process, delving into the intricacies and offering invaluable insights regarding the business facets of app development. From selecting the most suitable technology stack to optimising the implementation phase, we're here to maximise the effectiveness of your venture.


The Fintech industry is experiencing an unparalleled surge, fuelled by a growing preference for entirely digital solutions such as neobanks, online insurance firms, sophisticated budgeting applications, e-wallets, and versatile online trading platforms catering to both traditional and cryptocurrency markets.

This moment presents an opportune time for companies to join the ranks of those creating mobile fintech apps, contributing to the evolution of an all-digital economic landscape. With a promising concept and the support of a capable technology partner, the prospect of developing a pioneering fintech app has never been more tangible.


Frequently Asked Questions

Answers to commonly asked questions

What is the first step in Fintech app development?

The initial stage of Fintech app development involves closely studying market demands and customizing the application accordingly. Simultaneously, developers need to identify untapped opportunities within the financial technology sector, ensuring the app is not only tailored to current needs but also strategically positioned for future growth.

What is adaptable design in Fintech?

Adaptable design in Fintech is crucial for elevating user satisfaction, as it enables seamless customization, ensuring a personalized and optimized experience. This flexibility not only addresses immediate user needs but also positions the Fintech product for long-term success by accommodating evolving preferences and technological advancements.

How much does it cost to develop a Fintech app?

Determining the cost of developing a Fintech app hinges on factors like complexity and security considerations. For a foundational app, the estimated range is between $25,000 and $100,000, but for more intricate solutions with heightened security features, the costs may exceed $1,000,000. It's crucial to carefully evaluate the specific requirements and features to arrive at a more accurate estimation.

How do I generate income with my Fintech app?

Effectively generating income with your Fintech app entails the strategic selection of a primary income method at the outset, coupled with a deliberate plan to diversify revenue streams over time. This approach not only ensures initial financial stability but also positions the app for sustained success by adapting to evolving market trends and user needs.

How do Fintech subscription models work?

Fintech subscription models operate by incorporating trial periods and establishing regular billing cycles. The success of these models hinges on the continuous delivery of value, personalized recommendations, and robust security measures, ensuring a compelling and secure experience for subscribers over time.

Are transactional charges important in Fintech?

Transactional charges play a pivotal role as a key revenue source in Fintech. Achieving success in this domain necessitates not only competitive pricing but also transparent fee structures that foster trust among users. Additionally, adaptability to changing market dynamics is paramount to ensuring the continued relevance and profitability of Fintech ventures.

How do advertising and referrals contribute to revenue?

Advertising and referrals contribute to revenue in Fintech by generating income through targeted ads and referral links. Achieving success in this aspect requires maintaining relevance, ensuring a positive user experience, and optimizing conversions for maximum effectiveness.

How do Fintech companies generate revenue through data sales?

Fintech companies generate revenue through data sales by selling aggregated and anonymized user data. Achieving success in this avenue necessitates prioritizing data privacy, ensuring compliance with regulations, and delivering valuable insights to buyers.

How do Fintech companies generate revenue through API access?

Fintech companies generate revenue through API access by selling access to their application programming interfaces. Success in this revenue model hinges on providing robust functionalities, ensuring reliability, and offering scalable solutions that meet the diverse needs of developers and businesses integrating with the API.

How has the rise of cryptocurrencies impacted the Fintech industry?

The rise of cryptocurrencies has significantly influenced the Fintech industry, with platforms now facilitating the secure buying, selling, and trading of digital currencies to meet the evolving demands of users in the financial landscape.

How do Fintech apps contribute to reshaping the financial landscape?

Fintech apps play a transformative role in reshaping the financial landscape by democratizing access to credit, empowering individuals with unprecedented control over their financial affairs, and offering innovative alternatives that challenge and complement traditional banking systems. This paradigm shift enhances financial inclusivity, fosters greater financial literacy, and introduces flexibility and efficiency into the way people manage and interact with their money.

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