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Over the past 5 years, the number of fintech mobile app users has been increasing tremendously by 354%. Averagely 9 out of 10 people are aware of at least one fintech service or company. 64% of consumers worldwide have used at least one fintech platform.

Those impressive numbers have manifested the substantial growth of fintech mobile apps. If you are wondering whether it is worth enough to put effort and money into this, then you can set your doubts aside. In this article today, let’s dive into 5 steps for building a successful fintech apps.


Like any project, it is utmost important to find out what you are aiming for. Fintech a.k.a financial technology is an umbrella term covering a vast number of services. Your mission is to narrow down to the final destination that you want to reach. Rather than develop an app which serves many services but works inefficiently, let’s just focus on the core mission to build a focused app. Once you have a solid base, it is not a big deal to extend.

Besides, target audience identification is vital as well. Through development, characteristics of your audience class are the basis of the app creation. Your product should remain clear and recognisable, whilst facilitating specialised services for more sophisticated users.


It is essential to build a prototype with a group of beta testers to experience the app before letting it go live. Users are picky consumers, hence, they will show no mercy in uninstalling the app when having any discomfort at the first time using it. For the initial version, you will likely launch a MVP – Minimum Viable Product, then improve and enhance the app based on the market feedback.

There are some common features that you should take into consideration before embarking on the fintech app development:

  • User experience (UX) and User interface (UI): these two features make your app easy to navigate and use. No matter how incredible your other features are, if users can not be able to work on it, then you fail. 
  • Security: when it comes to financial issues, security and confidentiality matter most. Fintech apps must have secure authentication procedures and be protected against data leaks and cyber attacks. It is utmost important to gain trust from users as money is a sensitive concern.
  • Data analytics: when using a fintech app, users expect to be exposed to financial data in an easy to understand format. It’s your responsibility to collect, organise and analyse them then display clearly on the app.
  • Third-party integrations: many fintech apps need to connect with third-party services like banking, E-wallet organisations and other vendors. These integrations enable users to access to more information and additional functionalities


After deciding main features that meet all essential requirements of your target audience, it’s now time to invest on aestheticism of the app. What users want is not merely a functional app but an engaging and captivating interface with great images and animations. As the rocketing growth of the fintech market, there are many apps which serve the same purposes. In that case, an aesthetically excellent interface will separate you from competitors.  


Basically, the process of a fintech app development consists of five periods. Each stage has a different timeline and expenses depending on how complicated or advanced your app is.  

  • Planning: the initial stage involves market research, identifying target customers, analysing competitors, defining key issues and goals of the app. From then deciding on the features of the app and the operating systems. After that, BA (business analysts) will create sitemap and wireframe for the app.
  • UX/UI design: in the second stage, designers are mainly responsible. They receive the wireframe and proceed to create UX/UI designs. 
  • Development: the third stage is deemed as the backbone of the project. Developers will be in charge of coding the frontend and backend. 
  • Testing: once development is done, the app will undergo a more careful testing process to fix any bugs and ensure it operates smoothly on devices.
  • Support and maintenance: you might misconceive that when the app is done, it’s all done forever after. However, every app needs constant maintenance to update new features or be upgraded to be compatible with new software of iOS/Android. 

Apart from 5 essential stages, there are some other elements affecting the cost which can be listed:

  • Features: the number and complexity of the features contribute vastly to the expenses. Usually, financial corporations may launch the app with basic features for the initial version then upgrade gradually.
  • Operating system: iOS, android or both. Depending on what system that you want your app to work on. However, both systems are the popular option.
  • Native or hybrid: native applications cost you more but it offers enhanced performance.
  • Compliance and security: depending on the app’s feature, your organisation, financial requirements in your country
  • Integrations: many third-party APIs cost money, hence, the more integrations you need, the higher cost you have to pay for.
  • Dynamic content: Dynamic content enables personalization and two-way communication. Most fintech apps will include dynamic content, which increases costs.


As being mentioned above, a lifetime of a fintech app doesn’t halt after it is first launched to the public. Technology will change everyday, customers’ demands are endlessly. Therefore, the first version of your app is only the beginning. Treat your app as an ongoing and live project which needs to be improved and refined constantly. It’s necessary to always maintain a smooth customer experience cause it is the anchor to keep them stay using your fintech app.


It would be great if your company already have a technical team to build your own fintech mobile app. However, if you don’t have any software engineer, then we are pleased to help. With 10 years working as a digital transformation provider with a flair for design and development, building a fintech mobile app is in hand. In BSS, we adopt agile Scrum methodologies, which is deemed as a ideal approach for fintech mobile apps development. Our project management system relies on incremental development and is divided into sprints. The goal of each sprint is to build important features and come out a deliverable product. Other features will be added on subsequently based on client’s feedbacks in next sprints.

In sum, it’s our pleasure to partner with you in the journey of technology innovation. Don’t hesitate to contact us at:

  • Phone: VN: (+84) 908 558 815                       AU: (+61) 2 6172 0713
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