7 Must-Have Features in a FinTech App

7 Must-Have Features in a FinTech App

Digitalization is taking over all industries, and the financial sector is no different. People demand for digital solutions that assist them in simplifying their complex tasks. Thus, fintech apps are gaining massive popularity due to their ability to facilitate users to access financial services easily.

If you want to enter the fintech market, developing an app is the primary choice of the business owner due to the vast user base. The next question arrives: What features to add to your fintech app.

In this blog, we have explained 7 features you can include in your fintech app that can make your application feature-rich and more attractive.

What is FinTech?

Fintech (expanded as Financial Technology) aims to implement modern technologies in the finance business to provide automated and improved financial services. Digitalization in transactions, such as Mobile Payments, has made the financial system more effective.

Features of a FinTech App 1. Data Analytics

Integrating analytics is quite a standard feature for fintech apps. However, fintech app users want accurate information about their financial activities, making data analytics a must-have feature. Therefore, consider availing of this feature and provide users with detailed analytic reports.

2. Reward Programs In the era of high competition, standing out of the crowd is necessary. Therefore, consider adding features to keep users engaged with your app. You use reward programs and referrals to make users earn reward money, and that way, you can ensure users keep coming back to your fintech app.

3. Integration with Third-Party Apps Integrating fintech apps with third-party apps like payment gateway, advisor tools, and trading bots can open up your app to a diverse range of capabilities. Implementing such tools and services can boost your app functionality, ease of use, and efficiency.

4. Biometric Sign-in Digitalization has opened opportunities for innovations, which has also taken us closer to potential criminal risks and malicious activities online. A FinTech app development company can combat the growing security risks by implementing biometric sign-ins. Biometric security ensures a better secure payment system instead of traditional password security.

5. User-First Navigation How easily your users navigate through your app is a parameter that defines your app functionality. Therefore, why not put the most-used features in the front and the center part of your app for users to easily access them. Also, make sure to provide a balanced UI with easy-to-reach navigation buttons or menus.

6. Personalized Settings Personalization in apps is pretty popular these days, and fintech apps are no exception. Allow your users to customize menu options, push notifications, message settings, bank data, etc., as per their preference. Also, you can provide the ability to eliminate unwanted categories.

7. AI-Powered Chatbot Using artificial intelligence to improve app functionality is quite popular these days. One of the features you can include to ensure automation in your customer service is integrating AI-powered chatbots. Chatbots are helpful in 24/7 customer support and resolving various customer issues.

Final Words FinTech apps are divided into various categories, such as online banking, digital payments, Insurance, finance management, and more. It is apparent that your users may not be using similar devices; therefore, make sure your fintech app is responsive to different devices and meeting users’ demands.

FinTech apps can make users’ lives easier in so many ways. Read our FinTech App Development Guide to learn more about fintech apps and their development process.