The different types of financial apps
There are different types of apps for businesses. One of those apps is a financial app, which is also referred to as a fintech app. This kind of mobile app helps institutions or individuals manage their finances and investments. The popularity of financial apps is due to their features, such as a slick user interface and low transaction fees.
In fact, 6 out of every 10 mobile users prefer financial apps over websites. If you want to develop a financial app for your company but don’t know where to start, our financial app developers have created this helpful guide about the different types of financial apps available.
Why should you develop a financial app for your company?
There are plenty of reasons why it is beneficial for companies to develop a financial app. The top reasons why mobile apps are a good investment for your business are that they provide value, increase brand awareness and save your company money in the long run. An app can provide value to customers and get them to become loyal customers. This loyalty can then increase brand awareness as well.
Customers who enjoy your app can then recommend it to family and friends, thus increasing your brand awareness. If you are looking to save some money, building an app can help eliminate unnecessary transaction costs and give you a free direct marketing channel. The benefits are endless just ask financial app developers.
The different types of financial apps
A budget app helps the user create a budget, track income and manage spending along the way. Some of these apps provide features that can assist the user in paying off their debt, monitoring net worth and automating saving goals. When designing this kind of app, you need to make it easy to use and give the user an accurate picture of how much money they should have available to spend each month. Some examples of budget apps are:
Investment and trading apps
An investment app or a trading app can simplify the investing process for the users via the brokers’ unification. Typically investing apps offer advisory services. Some must-have features of the investment app include registration, linking bank accounts, payments and dealing with stocks. Examples of investment and trading apps are:
Money lending apps
A money lending app, also known as a cash advance app, allows users to borrow money before their next paycheck. Some features that this app should include are registration, loan management, payment, billing, transactions, EMIs, transfers and withdrawals. Some examples of money-lending apps are:
Money transferring apps
A money transfer app, also called a peer-to-peer (P2P) money transfer app, lets users transfer cash from person to person, or from entity to entity in a quick, cheap and secure way. How it works is you connect your digital wallet to link to your credit card or bank account. Examples of transfer apps are:
Credit score apps
A credit score app is an app that allows users to check their credit scores and detect any signs of fraud in their credit reports. These apps make it convenient for users to keep track of their credit scores because they can receive alerts directly to their phones. Some examples of credit monitor apps are:
Develop one of these apps with the help of financial app developers!
At OMG Austin, we provide financial application development and maintenance services that are designed to offer banks and financial institutions the freedom and cost-efficiency of reliably outsourcing the maintenance and enhancement of their financial solutions. Contact us today to learn about our financial, healthcare and custom application development services.
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Posted In: Mobile Applications