According to selectusa.gov, the financial market in the United States is the largest and most liquid in the world. Investment in the financial services industry offers significant advantages for financial firms. Looking at this news, if you have decided to enter the finance market, then here are the 4 finance app ideas for your fintech company. Consider these 4 fintech apps ideas that are widely demanded by people worldwide.
Here’s the conversation that you might overheard in the office or anywhere.
“I am feeling hungry.”
“Then what are you waiting for, duh? Order anything.”
“Yeah, but I doubt the service and the quality of food I will receive.”
“Don’t worry, you will get the same service and quality that you get at the restaurant. Just try it.”
“Okay! Let me order something.”
After a few minutes.
“Thanks, man! The food was awesome. You are a saver.”
“I am not. The technology is.”
This conversation might have given you the idea that every industry no matter food, transportation, shopping, or health are adding more perks to their domains. All thanks to the technology that has changed the way people access services and order products.
In fact, the finance industry along with IT is touching new heights by providing the best fintech apps. Talking about fin-tech apps, they have given a new way to people to do banking, make payments, transfer funds, invest money and a lot more.
With mobile apps, banking and fintech startups are delivering a better, easier and more on-demand experience for services like peer-to-peer payments, financial advice, money management and lending.
According to Goldman Sachs, the world of finance is changing exceptionally with the increase of digital payments and AI financial advisors. In fact, investors are also showing interest in this industry and investing millions in different finance startups and finance businesses.
So, if you have ever thought to invest money in finance application development, it’s high time to enter the market. However, if you are wondering about the app idea, don’t worry. Herein we have listed 4 finance-based mobile app ideas that you can invest in to surely make a profit. Let’s get started.
4 Finance App Ideas to Turn Into Successful Applications
1. Peer to Peer Payment App
With the increasing usage of digital payment, peer to peer payment application is one of the best app ideas to invest in. The world is going cashless and everyone prefers to make payments online using payment apps.
Thus, it would be a profitable investment to invest in payment application that allows users to send money from their mobile devices through a linked bank account or card. Users can split bills with friends and family with just one click.
Here are some of the suggested features to include in the p2p payment app:
- Account Details
- Send/Receive Money
- Send Bills/Invoices
- Real-time Alters and Notifications
- Past Transactions
- Unique ID/OTP
2. Payday Loan App
Another interesting app idea that you can invest and earn money is payday loan app. Through this financial app, you can provide your app users with any particular amount as loan in their emergencies like bill payments, medical bills, or EMIs.
App users just need to add information about their work and connect the bank account. The app keeps constant track of the working hours, so users can cash when they need to. And your app will deduct the money once the app users will receive the paycheck. Here are some of the suggested features to include in Payday loan app:
- Take a particular amount as a loan with just a few clicks
- No hidden charges, fees or anything
- Alerts and notifications about upcoming payments
- Safe and secure to protect bank data and details
3. Personal Finance Management App
Personal Finance Management app is also the most interesting mobile app idea to invest in. Finance startups can consider developing personal finance app that will help users to handle their finances, income, and expenditures in the easiest manner. Moreover, it will help app users to categorize different expenses, incomes and finances to track everything with just a single click.
Finance management application also makes it easy to visualize data and track spending trends. Allow users to connect all bank and credit card accounts, monthly bills and more so that their finances are in one convenient place. With real-time updates and notifications, the users will stay updated about the payment reminders. Check out some of the suggested features to include:
- Keep track of spending
- Allow users to create customize budget
- Real-time updates and notifications
- Free credit score monitoring
4. Investment App
Another revolutionary app idea is an investment application that allows users to monitor bank accounts and automatically invests the spare cash or we can say changes from their daily purchases.
Let’s take an example of one such app named Acorns, if a user purchases something for $9.50, the Acorns will round up the purchase to $10 and invest in the remaining 50 cents. If users invest in one of five portfolios from conservative to aggressive, depending on the amount of risk.
You can develop an app like acorns, allowing users to invest money like this and use it when in need. Some of the suggested features to include:
- Automatically deduct the round amount
- Save spare cash and changes
- Allow users to withdraw for free
- Invest money in different portfolios and bond with just a click
So, these are some of the most successful finance app ideas in the fintech industry. You can develop creative technological solutions in areas like peer to peer payment apps, money transfer, p2p lending, banking, trading and investment.
So, if you have any app idea in mind and want to validate it with any mobile app development company, you can get in touch with us. Just share your idea with us and our team will take care of everything, including fintech app designing and developing.
Still have any query related to fintech app development features, how much does it cost to make an app like Mint or Venmo, what is the app development timeline, or how do fintech apps make money? Just fill our contact us form. One of our sales representatives will get back to you and answer your queries. The consultant is absolutely free of cost.
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