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What is a finance app?

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Previously, in order to make a payment or put money on the phone, I had to open the website of a bank or company, log into an account, choose from a long list of options, enter card details. In general, it is long and inconvenient. Mobile apps simplify such routine activities. According to a survey by Renaissance Insurance, 12% of Russians use financial applications, while applications for purchasing goods are used by only 6%.

Google and Ipsos investigated the behavior of financial app owners. With the main ideas and conclusions, I decided to share with you in this article.

The most common transactions are money transfers, purchase histories and payments, and account verification. The function of paying fines is also popular. The differences in user behavior on the mobile site and in the application are interesting. On a mobile site, users search for customer service information, explore products and services, and compare prices. Applications are preferable for purchases and performing simple local tasks: to top up the phone balance or make a transfer to another card. A large amount of information from the application is not studied. At the same time, users give their preferences to more functional applications through which you can not only transfer and pay for goods and services, but also keep records of their finances, view statistics, bonus points, etc.

How to Choose the Right Finance App

On average, a user has 3 financial applications installed. As for financial application development, there are always new programmes.

If users have uninstalled apps in the last 3 months, they have removed 2 apps on average. If your application is not convenient and functional, users will quickly remove it. The most popular sources of information about financial applications are the Internet, website advertisements, and app store recommendations.

97% of users think about privacy and data protection when choosing an application from fintech software development services. They can be understood: the news columns now and then are full of headlines about the next leak of personal data. At the same time, users prefer to store personal data in a smartphone.

Next, users select apps based on reviews, ratings, and app descriptions. What's most interesting is that when choosing applications, users do not listen to the advice of their friends and relatives.

Users note authorization for secure access, the ability to save personal settings and personal data, the presence of specific functions: communication with social media profiles, the use of geo-settings, etc., simplification of purchases. 93% of users find notifications on smartphones convenient.

Understand the features of finance app development services before start

Money loves the count. No one doubts this truth. Accounting for income and expenses, planning costs, setting goals - all this helps to bring the financial condition in order and allocate funds for investment. There are enough ways to control money resources: writing in a notebook, filling out tables in Excel, using specialized programs for PCs and smartphones. The latter is the best option for how to quickly and conveniently keep track of household expenses.

The personal finance app development services that simplify budget management, should have:

  • entering data in one click, since only the amount is filled;
  • convenient widgets with the ability to use on the lock screen;
  • synchronization with other devices via Dropbox;
  • support for multiple accounts;
  • breakdown by category;
  • backup and export data in one click;
  • built-in calculator;
  • lack of advertising.

Finance mobile app development

The modern IT industry offers many solutions for personal financial management for every taste and color. Your task is to start using this and develop your financial literacy.

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Syandita Malakar Hi guys this is Syandita. I started Business Module Hub to help you all to post updated articles on technologies, gadgets. Although I love to write about travel, food, fashion and so on. I quite love reading the articles of Business Module Hub it always update me about the new technologies and the inventions. Hope you will find Business Module Hub interesting in various way and help you accordingly. Keep blogging and stay connected....!
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