With a revolutionary change in internet usage after covid and a few structural changes in payment ways, Fintech startups underwent a booming phase. With almost 26,000 fintech startups globally, this industry is still growing and is in its booming stage. Also, it is expected to grow further at a rate of more than 5% in the upcoming years. You can say that train still hasn’t left the station, and you can still get into a fintech startup if you ever wanted to. But let’s first understand what the initial requirements are and how you can enter the market with a seamless mobile app.
Why do you need a fintech App?
Every industry has their specification and requirements so does fintech. The business working in that industry has to follow them to get successful. The financial business always existed from the initial tie periods, in various forms but when we talk about Fintech, we get an image of a more modernized, and structured format implementing technological advancements. A Fintech app is developed keeping in mind the business structure, user requirements, legal requirements, and everything in between. It is quite different from an e-commerce store, as it comes with more cyber and financial concerns than any other industry. It could directly impact wealth. Thus, creates a requirement for a unique custom fintech mobile app development.