How Much Does a Finance App Development Cost?

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How much does a Finance app development cost?
How much does a Finance app development cost?

Personal finance app development is the hottest trend in the banking and FinTech app industry in recent years. The principal reason behind the demand for the finance app is a vast evaluation of online payment options. It has opened a golden opportunity for a Finance App Development Company. Various best money management apps are available serving various industries with an important feature to make our life comfortable.

These Fintech app companies are witnessing exponential growth with some eye-opening figures, which is an eye-opener for some other starts up who are trying to plunge into the field. Are you planning to be the next FinTech future, and then you must hire a renowned finance app development company to achieve desirable results?

Types of FinTech apps:

  • Payment gateway integration Fintech apps that using blocks chain and bitcoin
  • Money and banking apps for bill payments, money transaction, and expense trackers
  • Apps for stock trading in the equity market, savings, loans, and financial advice

Key Features Before Developing a FinTech App

  • Build a Secured Platform for the Users

App development budget depends on features that you want to integrate.

Security is a prime priority that helps to ensure data security with regulation and compliance. Security measures include the following parameters:

  • A lockout features after failed login attempts
  • The last three digits of card numbers display
  • Onetime message to affiliated mobile numbers every time user login through the Fintech app
  • Use Artificial Intelligence Concept

Artificial intelligence plays a vital role in rapid processing in the personal finance app. This has huge scope in the banking & finance sector. Find some uses of AI in the Fintech app.

User-friendly chatbots are a quick way to do interactions. They provide intelligent banking services to users while improving customer service and allows for better financial planning. 

AI solutions prove powerful in detecting strange behavior in real-time that allows FinTech organizations to add strong security to their apps. An artificial intelligence-integrated fintech app allows safe and faster money transactions that save the valuable time of the users.

  • Refer to Earn Points and Rewards

You can allow users to earn points and cash rewards to encourage them to turn around their shopping habits into additional discounted products. 

Many of the loan apps offer different reward gifts such as cashback credits and also earn points for spending through credit/debit cards.

In this way, a financial technology new budding starts up can encourage their app users with lucrative and better deals in terms of top features within the app.

  • Notification System

The notification panel is a mandatory feature in FinTech apps which may enhance addition development cost.

The apps must be capable of logins, money transfers, ATM withdrawals, and other activities. It permits customers to find out unknown account activity.

How Much Does A Financial App Cost?

You agree that the future of financial app has a bright future because people like to transact with these apps. This is simple and most user-friendly, and anyone can use it. 

The app development cost on various factors like features you need in your app, type of platform you need, developer’s cost, etc.

App Development Cost Ranges from $10,000 to $1, 00,000.

  • Your Project setup: 20%
  • Analysis and Framing of architecture: 20%
  • Project UI: 30%
  • QA & Release: 20%
  • Beta Release and Debugging: 10%

Find the list of features that require a minimum of hours to develop and design

  • Instant transfer requires- 20 hours
  • Fingerprint login requires- 1/2hours
  • Add a new payee requires- 8hours
  • Set spending limits -8hours
  • Voice banking app requires- 40hours
  • Chabot feature in messaging- 50hours
  • Push notification system- 10hours