How to Develop a Fintech App for iOS and Android that Breaks all the Rules

Author image By Nidhi Desai  |  Thursday, August 18, 2022 11:40 AM  |  4 min read  |   136

How to Develop a Fintech App for iOS and Android that Breaks all the Rules

Developing a fintech app can take incredible time and effort, especially if you want to create something unique. The pleasing news is that with the right approach and software development kit (SDK), you’ll be able to achieve your terminus much more quickly and easily than you might have thought possible. With this guide, we’ll teach you how to build fintech app for iOS and Android that breaks all the rules for traditional financial applications, as well as go over the steps involved in creating such an app from scratch! Let’s get started!

What is fintech?

Fintech is short for financial technology. Financial Technology (Fintech) is any app on the web or mobile that aims to enhance and streamline the delivery and utilization of finance services.

It assists businesses, companies, bankers, and other organizations manage their financial operations using specialized applications and algorithms that can be utilized on smartphones or computers.

It came into existence at the turn of the 21st Century, and initially, it was restricted to back-end systems used by established financial institutions. The concept has now changed to more customer-centric solutions. It now includes a variety of sectors like education, retail banking and investment management, the stock market, and more.

Types Of Fintech Apps

  • wealth and investment apps
  • mobile payments
  • lending apps
  • insurance apps
  • personal finance apps
  • cryptocurrency apps
  • neobanks

7 Steps To Build A Fintech App

7 Steps To Build A Fintech App

1. Choose Your Niche and Ensure Legal Compliance

If you’re thinking about developing a fintech app, the first step is to choose your niche. There is a profusion of different areas you could focus on, from payments to investing to personal finance. Once you’ve decided on your niche, it’s important to ensure you comply with all the relevant regulations. It can be a complex process, but it’s essential to avoid any legal trouble down the road.

2. Define your monetization model

To make money from your app, you’ll need to monetize it. There are a few different ways to do this, but the most common is through in-app purchases. You can also offer subscriptions, advertising, or paid downloads. Whichever method you choose, ensure it aligns with your overall business model and doesn’t alienate your users.

3. Design Compelling UI/UX

When it comes to fintech application development, UI/UX is key. Your app’s interface should be clean, sleek, and easy to use. Good fintech apps have a few things: they’re fast, efficient, and secure. Consider these three things when designing your app’s UI/UX.

Your app’s color scheme should be professional yet eye-catching. Font choice is also important; use a clean, sans-serif font for easy readability.

Consider using icons and illustrations to add visual interest and help guide users through your app’s interface.

4. Develop an MVP

A minimum viable product (MVP) is an early version of your application with minimum features. However, the functionality must be sufficient for your users to test the application.

Launching an MVP first allows companies to experiment with various aspects without major expenses while simultaneously getting the biggest bang for their buck. Furthermore, this approach leaves ample opportunity for continual adjustments before launching the final product.

5. Choose the Development Approach

After forming your vision, you must select a suitable technology platform and team layout. The tech stack is directly connected to your system’s specifications and the project’s complexity.

Furthermore, your choice of technology will be based on:

  • App functionality;
  • Scalability and flexibility requirements;
  • Market timing;
  • Requirements for the load on the system;
  • Platforms (web, native, or hybrid applications);
  • Security needs;
  • Goals of automation (for applications based on AI).

For the structure of the team, the structure of your team is greatly affected by the same technology factors we’ve already mentioned. If your app has intermediate to advanced functions, your team of developers is required to devote more time to creating the system. In contrast, simpler solutions are easier to build and require fewer resources.

6. Improve and Support Your Fintech App

Fintech mobile app development is not easy. It carries a lot of hard work, dedication, and creativity. The development process doesn’t go out when the release of your product comes around.

Maintenance of your application is equally crucial to make sure your application is user-friendly and competitive. Because the fintech industry constantly changes, routine maintenance tasks are crucial to keeping up with the changing technological and user needs.

7. Launch, get feedback, and improve.

When you’re ready to launch your fintech app, get feedback from early users and use that feedback to improve the app. If you’re developing applications for budgeting, payment apps or an innovative insurance application, or any other kind that is a financial program, the likelihood of completing it in the first go is fairly low.

Software development is a very variable process, so be prepared to review the project repeatedly to make improvements and optimize.

Don’t be scared to break the rules regarding fintech app development – sometimes, creating a truly innovative product is necessary.

Cost to build a Fintech App?

There isn’t a precise estimate that applies to all applications. The absolute cost will be based on the cost drivers listed below:

  • Complexity and functionality of your application.
  • Platforms (iOS, Android, or both);
  • Type and quantity of integrations;
  • Animations and dashboards
  • Innovative features (blockchain, AI, and other features) and more.
  • At ABC, we’ve created fintech applications that fall within various cost ranges.

If you’re attempting to figure out how to build a fintech app and not overspend, we suggest starting with your MVP first. The MVP can help you make plans for future development budgets as well as gain an understanding of the core capabilities.


On-demand fintech app development is the future of banking. By offering your customers the ability to access their finances through an app, you can provide a level of convenience and customer service unmatched by traditional banks. But, is not without its challenges. To succeed, you will need to have a strong understanding of the fintech landscape and adapt quickly to market changes. But, if you are ready for the challenge, on-demand fintech app development can be extremely rewarding financially and professionally.

Looking For Fintech
Mobile App Developers

Contact Us


Author image

Nidhi Desai

Hello, I’m Working in Concettolabs as a Flutter tech lead, with Six years of experience in mobile applications with Android and Flutter (Mobile and Web App). It has been a good experience of building beautiful apps with great UI/UX and responsive design for mobile and web.

Why Our Client Love Us?

  • Fast kick-off
  • Agile Ready
  • 98% Client Retention
  • 360-Degree solutions

Our integrity and process focuses largely on providing every customer the best recommendations for their respective business. Our clients become recurring customers because we always go beyond their expectations to deliver the best solutions.

Get In Touch
Mr. Sieva Savko
Customer for over 4 years Mr. Sieva Savko Norway

Concetto Labs have provided us with a tremendous amount of help. Their competence in various IT fields led to a positive outcome while facing different challenges. A lot of value was given by their helpful professional staff. To describe this company in three words: effectiveness, collaboration, trust. I would also like to personally thank Mr. Tejas Patel for his positive, friendly, and highly competent approach. The all-around support provided by him made every task at hand a no-brainer.

Miss. Caroline Jack
Customer for over 4 years Miss. Caroline Jack South Africa

It has been an absolute pleasure working with the Concetto Labs team! We have worked together on a few projects now, all of which have been successful. You can rely on good communication and response times from these guys. And they go above and beyond to ensure that the result is achieved. Because of their great service, they have become an integral part of our business and we will continue to use them going forward.

Mr. Richard Bartlett
Customer for over 3 years Mr. Richard Bartlett United States

Concetto Labs is a group of incredibly talented individuals. They are very responsive and communicate with you each and every step of the process. I worked with Manish Patel throughout the entire process and must say that I have never conducted business with a more honest and professional individual. Together with his team, Manish created exactly how we envisioned it to be. Thanks for all of your hard work.

Mr. Conrad Abraham
Customer for over 2 years Mr. Conrad Abraham United States

Concetto Labs team is my go-to for any simple or complex development projects. They have risen to the challenge. Great project management, communication, and super quick turnaround. I’ve done multiple projects with them and don’t plan on changing that.

Mr. Edward Chin
Customer for over 4 years Mr. Edward Chin Canada

Concetto Labs was able to bring my complex idea to life. Throughout the project, Concetto Labs maintained constant communications and was always professional - considering I had no experience in what I wanted to create their welcoming attitude, patience, and knowledge in the field created the perfect environment to work in. I was so impressed with their work that I've kept them on board as my go-to experts. Thanks for the worthwhile experience and the breathtaking product.

Karuna Govind
Karuna Govind CTO & Co Founder (Coupay) London, UK

We started working with Concettolabs due to the influx of work on mobile (Flutter) and frontend (React.js). It's been fantastic working with them. Good, consistent communication and good quality of work means they may be our first choice for many projects to come.

Arunabha Choudhury
Arunabha Choudhury Director (Fuzzann Technologies Private Limited) India

We are a healthcare IT company and wanted to build a Mobile Application for both Android and IOS using Flutter. The Concetto Lab team has been very patient with our project requirements and made sure all our queries are answered. It was a great show of professionalism and customer relationship. Even during the project, the team was very accommodating of all the changes we requested. The project was delivered successfully and we deployed the app in the Android Play Store. Overall, the entire process has been very transparent and the team was able to deliver exactly what we had envisioned the project outcome to look like.

Good Firms Clutch App Futura Microsoft Associate Mobile App Top Developers Gesia
Are you enjoying reading what you see?

Feel like discussing more about this with our Sales Experts? Click on Create Similar Button.