Fintech technology is now in trend to make the financial services simple and easy. With the constant development of fintech new features and functions, it is important for the fintech app development company to cover the current and futures ones that are currently developing.
The new trends of banking bend towards the customer-oriented. Only product services are not enough, the users should feel the experiences. Engaging customers is a new trend for business. The customer has keen to come on your website naturally. They are unable to digest when something is doesn’t work out according to their needs. They want you to challenge all the odds and emerge victorious like a pro.  

However, there will be a lot of major changes takes place in 2020, as in the rise Fintech app development continues to be accelerating. Fintech technologies have transformed and innovated various services through the emergence of new technologies to fulfill a need of their customer requirements.

It all about innovation that helps in the up-gradation in fintech development. The Fintech startups have the benefit of working independently that’s the reason Fintech rising faster than the companies which follow traditional method for financial services. Here we are focusing on Fintech and Financial services which need to follow every fintech app development company.  

AI and Robotics – We all see that AI is using in almost every sector other than customer services. Analytics, risk assessment, investment, logistics and supply chain management can be using this technology for streamlined and more efficient processes behind the scenes.

In the early stages, bankers used to have personal connections with their customers to understand their behavior. But in the digital age, technologies took the place of bankers to maintain the connection. Artificial Intelligence and machine learning can process the huge amount the information data of a customer. This data and information can be used to analyses the human behavior and banks and other financial services can cater to their customer customized services and can achieve customer satisfaction at a higher level.

Voice Recognition – Voice recognition technology is already gaining traction in various sectors and several fintech leaders are already helping financial organizations and banks to serve their customer hand-free banking services.

Companies who are focusing more on voice recognition with every piece of software released. As a most customers using smartphones for banking services, voice payments become a natural substitute for tapping on the go.

Conversation Interference – According to the Gartner by 2020, Chatbots will interact with the customer of 85% of banks and financial organizations. By eliminating human interaction in conversation productivity and speed improves. In fact, according to the report it is found that chatbots has reduces save over 4 minutes on every transaction. Customer of financial area will more relay on chatbots as it provides 24*7 services., instant response and instant resolve query to improve banking personal services.

Blockchain will shake things up – Blockchain in the near future expecting to offer the terrific potential to a wide range of industries by bringing radical changes into business models and operating processes such as payment method, payment the transaction, and other insurance sectors as well.

Blockchain in financial services still needed testing, they can make a relation with their customer with more transparency. This technology increases more loyalty, reduces transaction time and significantly increases the cash flow. The initial attempt for use of this technology will turn around the improvement of fundraising and KYC fraud detection.

Mobile Payment Innovation – One of the best things in the fintech is the growth of mobile payments. The consumer wants to make faster, easier and invisible no matter where they are. Days are gone where people have to spare some time to go the bank and standing in a queue for their banking services. Google, Phone pay, Paytm, amazon and many other companies have their own payment platform where the consumer can do many financial services and this mobile payment innovation is continuing to grow with their features and new upgrades like biometric access control, inducing fingerprint and face recognition.

Conclusion –
Fintech app development has continued to evolve with new technologies and continue to develop fast. The five-trend outline the most significant movements and changes that are predicted to happen soon and shape the financial services in the upcoming years.Hopefully, this article will help you see a complete picture of all the influences on the modern financial industry and a process of its digital transformation.

Originally published at – http://bit.ly/2FxEFt5

Fintech companies have revolutionized in the personal finance and finance organization with the emerging technologies which benefit the consumer at a large level. Fintech application has introduced unique andinnovative experiences in the world. There are already 5600 fintech companies alone in the USA growing at a rapid pace. If you wish for fintech apps so this post is for you.

Let’s take a moment to red the important tips for fintech app development that will help you to move forward on the right path.

Find the Right Fintech App Development Company – When you planning to develop any kind of product or experience, you always wish for the streamlined process and so you always looking for professionals. In the long run, the best and affordable development team is those who already have years of experience in creating similar applications. Experienced companies better understand your demands and develop an app that matches your needs. But before choosing the right fintech app development company, don’t hesitate to ask questions or requests for portfolio.

Once selecting the right fintech app development company, your job is not over. An important thing to understand is that only developing an app and testing is not enough more important is its sustainability. For this reason, fintech app developers who can work throughout a life cycle is a smart investment.

Create a User-friendly Environment – The apps must be user-friendly design and user of any age can smoothly operate your apps. Analyze the app design before finalized because once it goes into the market, you can’t completely change the design of your app as users only recognize your app by its design.

When your design is unique and recognizable, there is much less chance your users will get scammed or pretending to be you. So, whether it’s a specific color you use or your logo, it should show users that it’s really you.

Functionality – A nice looking app is no doubt good to have, but what if your app doesn’t work smoothly? This is the reason you need to be clear your thought in front of developers about your apps. What type of functionality you want in your app, your developers must know. So, that developer’s team can develop the perfect apps.

Too much complexity apps are uninteresting as no one wants to spend extra time to understand the functionality of apps. The main dashboard should be neat and clean and include only the most important options.

In this way you can get the necessary information and make the necessary adjustments to improve better customer experiences.

Security – From offline to online security always be the concern for everyone. As much as people interested to adopt new technologies their security concern also increases. No one wants to share their personal data without knowing its safe or not. This especially for payments transaction apps, banking apps or other fintech apps.

Security measures should cover both internal and external parts of apps. Depending on how development of apps has been done, the means to keep information is quite vary from app to app. Many technologies emerge in development of fintech apps, blockchain is one of the most useful technologies that keep information safe.

The external security is also important, and it is something your users can see, like login protection and the way information has stores. Multi-factor authentication, a combination of two or three different verification method, is the best way to implement this.

Diversity – Unless you’re aiming for a group of people or devices, diversity is something you should never forget about that. There are several types of devices present in the market with different screen size, resolution, RAM and more, fintech app development company need to b develop apps with many possibilities that easily operate no matter which devices your users have.

Don’t forget your users is differ as much as devices do. Their preferences need, technical knowledge and even their physical abilities will affect the way they interact with your app. Companies must  developed apps by keepings all odds and even in the mind.

Last Words- Fintech industry is rapidly changing in order to keep their customer happy and provide many facilities along with some risk. Fintech has completely changed the way how people deal with their capital and suggest them in their financial planning as well.
It is quite difficult to be innovative in this world where most of the innovation has been already done, buy Fintech app development companies always must learn from their competitor mistake or with the thought of how apps can be more useful to users. Don’t hesitate to take inspiration from businesses like you. In the end you don’t have to create something new but to improve something that already exist.

Originally published at - http://bit.ly/2NHmHc4

Illustration for article titled Future of Custom FinTech Application Development in The FinTech Space The financial sector is reshaping in a new form by replacing old banking and financial traditional with the introduction of technology in the financial sector. Moreover, Fintech has innumerable benefits which can help the financial services to optimize their workflow and provide better customer experiences to retain their customers for a long period of time. Benefits that enhancing customer experiences is one of the important factors of adopting technology in the financial landscape. For developing robust fintech apps now banks and financial organization are seeking to hire leading FinTech app development companies who are capable to develop custom-fit trading application or software system tailored to meets their specific requirements. Experienced programmer caters startups to exploit information in an innovative way by leveraging big data analytics and modern tech tools. But due to enormous competitions in the financial market. It is now a challenging task for the developers to build tailored digital products powered with the cutting-edge technologies to offer the best services to their target audience and fulfill their customer specific requirements.

Let’s here discussing some promising technologies which can held the responsible to form the future of fintech custom software development.

· Complete Transparency with Blockchain Trading Platform - Blockchain is the hottest topic in the tech-savvy world, everyone is talking about it. Blockchain offer secure and transparent platform which makes an easy transaction. One of the biggest anxiety surrounds to the digital payment is data security, time and heavy processing fee. Blockchain has introduced in the fintech to provide the right solution with its decentralized platform for brokers and traders in an aim to save their time so that they focus on important investment matters.

· AI is helping FinTech to Make Better Custom Fintech Software: AI has transformed the fintech in an innovative way. It helps programmer to build personalized digital products based on an evaluation of several amounts of data. The ai-driven platform helps the fintech for better understanding of customer behavior. AI will be the future leading platform in the further development of customized financial tools and solutions. AI also helps investors to get more interest and helps in managing their savings and advise in investing at the least possible cost.

· Robotic Processing Automation: Robotics processing automation is the use of machine learning and AI to handle high-volume tasks which includes calculations, maintenance, and queries of transaction and records.Robots saves time for financial services provider and traders as they can perform the repetitive task and complex task to streamline and help to optimize their workflow.

· Biometric Technology for FinTech Security: Biometric technology has spread its wings in the banking and financial organization by making money operation like instant zero balance account selfie and cash withdrawal with an initiative by banks. Biometric technology tool is hack-proof, and this is the reason it is considered in modern technology to shape the future of custom Fintech application development in the Fintech sphere.

· Mobile Friendly Products to Make Payments Instantly: As people spends most of the time on mobile phones, so many industries are incorporating digital platform to their services. The banking sector is no different, the banking sector has been quick to move on mobile apps. App development becomes the latest trend for the trading sector as it allows the programmer to develop products which simplify the investment process. Moreover, Mobile payments are the major driving force as it transformed the fintech software market and will continue in the future also.

Conclusion: Fintech industries are continuing to make financial services easily accessible to more people. It will continue to expand their services by emerging new and fruitful technology like blockchain, AI, Machine learning, biometric and other technology in Fintech to enhance their financial areas such as payments, loans and saving management.

This blog has been taken from the resource -http://bit.ly/2EbBQ0h

Robo advisor is considering the future of financial services by their fans, but can computer algorithm really replace human financial advisor? Robo advisor is less expensive than traditional advisor so, many financial companies are threatening to steal customers from traditional advisors while also helps in the growth of wealth management and financial management sector. When you truly look closer to the difference between Robo advisor and human financial advisor then you feel that Robo-advisor could never truly replace human financial advisor.

How Do Robo-Advisor Work?

Unlike human financial advisor, Robo-advisor uses digital platform that uses an automated algorithm to provide investment advice. You will typically guide through an online questionnaire to determine risk tolerance. An investor fills the online form by detailing their current financial situations, monetary goals, and financial preferences. Then Robo-advisor analyzes the user data and dispenses the investment advice accordingly.

Advantage of Robo-Advisor:

•     Automation:Robo advisor is good at ongoing automated tasks such as tax loss harvesting and portfolio rebalancing.

• Transparency:Services is available 24*7 hour with an easy sign-up process and powerful analytics software.

•  Lower Costs: Robo-advisor cost a lesser amount than a human financial advisor. They build portfolio using low-cost mutual funds.

• Lower Barrier:Most financial advisor requires a minimum investment of $100000 or more to open an account while Robo-advisor requires minimum as zero.

Disadvantage of Robo-Advisor:

• You can’t choose your own investments: If you’re an investor who seeking an extremely diversified portfolio for investment choice, then you might not a good candidate for the Robo-advisor.

• Frequent Rebalancing might Hurt you: All Robo advisor rebalance your account. When you start investing, the digital advisor assesses your risk comfort and then creates an asset allocation plan. Some Robo advisor rebalances daily, other monthly, quarterly or other frequency. Excessively rebalancing causes many transactions and the high fee which might disturb your expenses.

• Limited Contact Method and Hours:  Many Robo-advisor offer e-mails, text contact, and chat box. Other have limited phone hours and some Robo advisor isn’t accessible on weekends which is a problem for the person who works during weekdays and attends investment only on weekends.

Following reason which confirms that Robo-advisor can’t completely replace the human financial advisor:

• Money is an Emotional Matter:Human advisor’s ability to provide emotional guidance. By meeting clients face to face they allow us to provide better behavioral coaching and hand holding. They also help us in developing positive budgeting and wealth management habits that lead to long term financial security.
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   Unique Financial Situation: Human financial advisor provides personalized counseling and guidance to help the client in long term financial success. While Robo-advisor not able to personalize as it based on a computer algorithm to determine assets allocation.

• It’s More than Just Investment: Robo-advisor only provide portfolio rebalancing and tax loss harvesting but they don’t provide complete service that human financial advisor offer. The human financial advisor offers innumerable strategies that consider changing life circumstances. They provide compressive financial planning which includes estate planning, retirement, insurance and much more. 
  
  

Let’s Wrapping: Robo-advisor is gaining media attention; they aren’t here to replace the human financial advisor. It is beneficial for beginner investors with limited assets, but they lack the full range of financial services that would be provided by the human financial advisor. As with any life choice, an investor should figure out what type of investment they require and select a Robo-advisor or human financial advisor to suit his individual style.

This blog has been taken from the resource- http://bit.ly/2PQsX0Z