It’s the mobility era, and smartphones have become our best friends.
Need to shop? Visit any e-commerce app.
Need to transact? Use e-banking.
Need entertainment? Listen and download music, play games, and whatnot!
Since everything has turned digital, a special place has been made by digital wallets and digital payments app.
However, let’s not deny the fact that many small businesses are still struggling to access the mechanism due to numerous factors; exclusion from the payment ecosystem tops the list. Another crucial reason is expensive hardware.
Therefore, to eliminate factors like these, a UK-based fintech app came forward to enable businesses to bypass the card terminal.
HOW?
You’ll learn more as you read along!
Nomod Raised Millions in its Seed Funding!
Nomod is a platform that enables businesses to receive card payments using their smartphone in the absence of hardware.
The company aims to offer merchants with accounts, payment networks, cards, etc., and build a solid consumer base in markets like Saudi Arabia.
Notably, the platform has raised $3.4 million in its seed funding, valued at $50 million.
Impressive, right?
Don’t you think that unique initiatives like these could benefit the audience as well as your business in an exceptional manner?
BECAUSE WE DO THINK THAT!
Therefore, if we’re on the same page, how about developing an efficient fintech app for your users and harvesting great benefits?
Here’s more for you to know!
Fintech Trends in Mobile App Development
Fintech has been a great transformation for the financial industry and the ways they offer their services. Therefore, before you develop your fintech app, here are a few crucial industry trends you must know:
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Blockchain Technology
Blockchain is no more associated with crypto, but its potential has reached the fintech industry. This is because the tech uses algorithms which allow safe and secure data sharing. Not only this, but its mechanism of distributed ledger technology enables banks, insurance companies, logistics, etc., to share important information hassle-free.
In short, there’s no scope for forged documents as it also offers digital contracts to automate the process.
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Artificial Intelligence
AI offers stupendous features to the fintech industry:
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The tech detects changes in the model and adjusts accordingly without any need for data scientists.
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In case of low data quality, it still creates beneficial data insights for improved decision-making.
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AI eliminates the need for storing, processing, and transforming the data before analytics.
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Unstructured data is smoothly handled.
For financial services, AI can be utilized in three key areas: Machine Learning, Natural Language Processing, and face recognition.
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Chatbots
Chatbots are popular for initiating human-like conversations with app users. In addition, chatbots are cost-effective, easily available, data-driven, and much more, which is why organizations look forward to integrating the same within their apps.
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Gamification
One of the vital trends includes gamification, which integrates gaming activities. It is used to improve the overall consumer experience and offer fun elements to them.
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Voice Recognition
Do you use Siri, Google Assistant, etc?
Then, you’re already familiar with the voice recognition mechanism! Businesses are leveraging voice technologies into their mobile apps due to the convenience it offers. Using the same in fintech apps, users can initiate payments and more.
In a Nutshell
Unquestionably, building a fintech app is a tremendous opportunity due to the lack of efficient fintech solutions in the market. Therefore, if you’re grabbing the chance to build one, it could be the break you needed.
However, building an app isn’t as easy as it may sound. You’ll need to hire a professional team of developers to do the job. Therefore, connect with the best app builders in UK and turn your vision into reality in no time!
Happy innovation!
