The gradual transformation of the financial sector into the digital world is not exactly surprising when you consider the various markets that have turned online for more exposure and expansion. With financial illiteracy growing and the demand for a user-friendly but effective fintech app on the rise, now is the perfect time to know how to develop a fintech app – for example, our partner Topflightapps wrote a ideal guide – and be benefitted by the seeming gap in the market.

Steps to develop a fintech app

With the growing interest of the ordinary people towards online financing, now is the perfect opportunity to establish a fintech app. You can take a look at the steps given below for the development of such an application.

1) Research and jot down creative ideas

Before recruiting a professional team, you must do some due research and have a clear picture of how you want your fintech app to be like. To be able to brief your team, you must be fluent in technical jargon or know about the various aspects to some extent. It is also crucial that you jot down any creative notion that will separate your app from others and give it a competitive edge.

2) Integration of necessary features

To make your fintech app functional, several features need to be incorporated. Some of these that are vital are user management, secure login, notifications, budget organization, assessment of the budget, quick money transfer, suggestions on investments, integration of mobile payment, and many more. Keep in mind that your budget will mostly be dependent on the number and quality of features that you want to integrate on your app.

3) Taking care of the legal aspects

The security of your fintech app must be tight, with no loopholes for hackers to exploit. For this reason, you must establish a data privacy policy. You must also have a disaster recovery plan in advance to handle the data breaching, if it happens, with relative ease. The more secure you can make your app, the more customers will be willing to share their finances with you.

4) Beta testing and marketing

Before the launching of the product into the market, you must send it for beta testing. The reviews provided by first-time users will help you eliminate the glitches and make the app as smooth as possible. Also, ensure that your marketing ideas are quirky but not unrealistic to the niche you are targeting.

Different types of fintech apps

The availability of a diversified range of fintech apps has changed the way customers handle their finances in this digital era. Some of these types are listed below.


With the finance sector quickly shifting towards the digital world, regulations also need to be modified to meet the growing user needs. RegTech is a subcategory of FinTech that uses innovative technology to provide better compliance and offer regulatory processes like risk management, regulatory monitoring, transaction monitoring, and many more. These are designed in a way that they are cost-effective without compromising on the services promised.


This was perhaps the first step of the finance industry towards digitalization. The digital mode of payments has seamlessly integrated into the daily lives of the people. People are no longer bound to make transactions by visiting the bank or other particular establishments. The use of creative technology and user-friendly interface has allowed the payments industry to bloom and reach such a thriving success.


The insurance industry’s rapid growth can be attributed to the use of several ingenious technologies that are coded to enrich customer experience. With the introduction of online marketing and customized approaches, customers are drawn towards this online insurance industry that is relatively hassle-free and easy to navigate.


Usage of technology to provide lending solutions is the basis of this digitalized version of the lending industry. These technologies are also beneficial as they provide results that do not have any errors, making the prospect much more appealing to the customers. Some of the aspects that have gained popularity are predicting income prospects, assessing the collateral value of assets, etc.

The steps, as mentioned earlier, will assist you in developing a profitable fintech app. There are also a variety of options available for you to choose from when developing a type of fintech app. It is time to put your innovative ideas and consult them with professionals to launch an app that will bring you considerable success.