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Fintech app development has remained one of the hottest technology trends in 2020, and the year 2021 is no different. We will witness the rise of fintech apps as they will get mainstreamed across various industry sectors thanks to the evaluation and prominence of online payment methods. The trend of making payments online or cashless transactions has opened the doors of new opportunities for fintech startups.

As per the Statista report, 75% of consumers have adopted some form of money transfer or payment service in the year 2019. This trend is here to stay for a long time and reshape the future of fintech apps.

If you want to become a part of the fintech revolution, all you need to build a peer-to-peer payment app with excellent features and user-friendliness. You can also opt for money banking apps for facilitating money transfers and bill payment or stock trading and savings related apps. The eWallet app development company enables you to come up with advanced wallet apps that enable users to transact in cryptocurrencies.

Importance of Fintech Apps

Feature-rich fintech apps offer robust digital payment solutions. Consumers of retail, eCommerce, and other B2C businesses can leverage the benefits of reduced transaction costs and the elimination of middlemen. Fintech apps can bring automation to banking services, risk management, trading, and bill payment. Users find these apps easier and utilize various features for simplifying online payment.

However, with increasing popularity, the fintech app market becomes more competitive. It is better to consult a reputed mobile app development company to get a robust and reliable fintech app in line with your business model.

Here we give the most sought-after features of fintech apps.

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Must-Have Features of Customized Fintech Apps

Biometric Security Integration

Data security remains a top concern for entrepreneurs and mobile app development companies alike. In recent times, cybercrimes have increased manifold and fintech apps, with confidential financial data of the app users, can be a favorite target for hackers. Therefore, it is necessary for you to take the security of the fintech app to the next level and ensure the safety of online payment using your app.

You can strengthen the app’s security by integrating biometric security features like-

Fingerprint Recognition

It is one of the strongest and most common methods for replacing unreliable password-based security systems. Many fintech startups have started integrating this method.

Palm-vein Biometrics

It is similar to fingerprint recognition. Instead of fingers, here the reading device scales the user’s palm. If the palm biometrics match, then the users can make payment and access the app’s features.

Face Recognition

Facial recognition is a considerable option and fintech apps will integrate this option to ensure data safety.

Third-party Authentication

Two-factor authentication is one of the strongest security methods. It is essential to safeguard the customer’s digital accounts. Short Message System (SMS) is the commonest method of two-factor authentication. Third-party authentication offers QR codes or tokens to give access to users. Some fintech apps rely on a mobile network or mobile components to ensure the user’s security.

Personalized Experience

When it comes to offering a personalized experience. AI-powered features offer smart suggestions and give answers to the customers in fintech apps. These features can analyze the investment and spending habits of the app users and the fintech app can offer an interactive experience to the customers.

With a feature-rich trading or financial app, you can assist customers to make the right decision for investment while providing them personalized
recommendations based on AI-powered analysis.

Fintech App

Data Analytics

We live in a data-driven world in which data analysis plays a vital role in offering your customers a clear overview of financial activities and assist them to make informed decisions. The fintech app can analyze the data and create reports for the users. Data analytics is useful for generating transaction reports, financial status reports, traditional reports, and the like in real-time. Most fintech apps have a data analytics feature that provides

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Report Management

The app users can get the summarized report for their financial activities using the report management feature. This feature is quite common among fintech apps.

Transaction Reports

This feature is yet to introduce in the fintech apps. It is designed to facilitate the app users to track their spending across various categories.

Goal Status

Users can add financial goals or suggestions from the given goals and set the timeline to achieve them. They can also get the status of their goals in real-time.

API Integration

Like other apps, the fintech apps are designed to address the changing needs and expectations of the app users. The users can make payments and transfer money with ease using fintech apps. These objectives can be effectively fulfilled by integrating APIs during the fintech app development process. API integration also ensures that the fintech app can interact with both consumer-facing and business-facing apps.

Your customers can conduct multiple tasks using a single platform, i.e. your fintech app with the help of APIs. The mobile app development company can integrate multiple APIs in a large-scale application to bring certain functionality for the app users. For example, integration of the Geolocation API enables users to find nearby ATMs.

Automated Processes

Fintech apps bring automation to various repetitive tasks that need manual intervention. These apps help the users make instant decisions related to investment, overdrawn accounts, loan approval at a better interest rate, and the like. The fintech apps also send notifications regularly to keep the users updated with the necessary information and new rules or offers. AI technology manages the notification system to save a lot of time and effort of your staff while sending personalized notifications to your customers.


Blockchain and cryptocurrency have become inevitable in the finance sector in recent times. On one hand, blockchain technology is getting mainstreamed in the sector, and on the other hand, cryptocurrency transactions have started gaining ground in the corporate world. Blockchain technology enables fintech startups to increase the number of P2P transactions without increasing the transaction fee for local and international payments. It is a safe and secure way to promote online transactions and cryptocurrencies.

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Integration of AI and ML

We just cannot imagine fintech app development without integrating AI and ML technologies. These revolutionary concepts have created a buzz in the corporate sector for their capabilities of bringing digital transformation.

The mobile app development company can integrate AI-based features to offer a better user experience and the ML technology can make it more personalized by using predictive analytics techniques. As a financial institution owner, you can bring automation to repetitive tasks by using these technologies.

What’s more, the eWallet app development company can integrate ML-powered chatbots in the fintech app to improve customer support services and automate the interactive process with customers or app users.

All these and other features can play a crucial role in determining the cost of a fintech app development. Apart from features, there are many other aspects that also contribute to the app development cost.

Let’s find out the answer to the question- how much does it cost to build a feature-rich and user-friendly fintech app?

Cost of Fintech App Development

Apart from features and app complexity, we need to consider many aspects for determining the cost of a customized fintech app. Some of these factors are-

–> Mobile app development platforms (iOS or Android or cross-platform)
–> Number of API integrations in the app
–> Hourly rate of mobile app developers
–> Engagement model for fintech app development

Taking all these aspects into consideration, the cost of a fintech app with basic features can be around $15000 to $20000. However, advanced features can increase this cost significantly.

Concluding Lines

Customized fintech apps provide a significant opportunity to earn revenue not only for fintech organizations but also for startups that want to grow based on a seamlessly-performing finance app. You can hire an eWallet app development company to get a fintech app that can help you get a high ROI while offering several functions including checking balance in real-time and carrying out bank-related activities.

Solution Analysts is a leading mobile app development company engaged in developing next-gen apps across various industry sectors including banking, power, pharmaceutical, healthcare, retail, and real estate. If you have any fintech app-related requirements, simply drop us a line at sales@solutionanalysts.com, and we will get back to you soon.

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As a Senior Tech Enthusiast, I bring a decade of experience to the realm of tech writing, blending deep industry knowledge with a passion for storytelling. With expertise in software development to emerging tech trends like AI and IoT—my articles not only inform but also inspire. My journey in tech writing has been marked by a commitment to accuracy, clarity, and engaging storytelling, making me a trusted voice in the tech community.

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