Technological opportunities for FinTech
Introduce new assets, like cryptocurrencies, into your services.
Enable your customers to do more with easy-to-use software.
Personalized finance is the way of the future.
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We designed a platform that works as a stock exchange for franchisers. The application is dedicated to those who want to invest in franchises and those who are franchise owners looking for investors.
FinTech is evolving extremely fast
One of the most exciting industries today, FinTech is growing at a breakneck pace. Already, people can invest into a rich world of different financial assets from the comfort of their own home, in a matter of a few clicks on their phone or computer. Thanks to advanced digital technologies, finance is becoming truly democratized. Digital banking, investing, saving and wealth management are available in the form of apps and web platforms that are personalized towards different kinds of customers. The competition is strong in this market, so you need to be smart and have better tech in order to thrive.
One of the key aspects of FinTech software development is security and compliance. This is an industry where it’s not enough to provide a great user experience. It has to be extremely secure, because your users’ money is literally on the line. People are smart and they recognize untrustworthy software quickly. So, the main challenge in FinTech is maintaining good PR, and a big part of that is making sure that your technological infrastructure is as safe as can be. Users need to be confident that their money is safe with you, otherwise you’ll be in a world of trouble trying to keep up with customer demands.
How can we help?
Validate your idea from a technological and business perspective with our experts.
Our talented designers can make any interface beautiful and usable.
Experienced developers will craft any web application you need.
Our mobile development experts build apps that are lovely, fast, and secure.
Tailor-fit software combining bleeding-edge tech and your existing infrastructure.
We can help you choose the optimal technology to build your product.
Extensive testing will ensure that your software is operation-ready.
FinTech is slowly taking over conventional finance
In the Western world, digital banking hasn’t yet overcome traditional financial institutions. In the east, it’s a little bit different. Many countries had no financial institutions that everyday people could use for managing their money, making savings, and paying for things. Thanks to the ubiquity of mobile devices, this has changed drastically. Now, countries like China and India are at the forefront of FinTech innovation and the switch to digital currency.
Our reality is a bit different. Industry incumbents don’t give up easily, and all of the major finance companies have stepped foot into the digital world with different types of services. Startup founders can either go against them, or work with them in order to usher in a new era of finance.
From saving to trading, finance is all online now
The finance industry has evolved so fast that regulators aren’t quite keeping up with it. Blockchain and cryptocurrency are technologies that are still very misunderstood, and just two examples of many areas in finance that are ripe with scammers and bad actors. Which is why one of the big challenges in FinTech is building trust, and this starts with reliable technology.
You can’t have downtime or random bugs in FinTech software. You can’t have ridiculous, hard-to-navigate design. Pristine user experience and an extremely secure backend are pretty much basic requirements in this industry. This makes FinTech software development much more difficult compared to many other industries. Put compliance requirements on top of that, and you’ve got a recipe for a difficult project.
Bleeding edge, or tried & tested technology?
It’s hard to say exactly if you should stick to older technology or use bleeding edge tech only. The best answer is probably a mix of both.
Some major companies still use extremely outdated programming languages like COBOL. These legacy infrastructures are extremely hard to rebuild so it’s understandable that they don’t see the need to switch, especially if it still works well. However, these issues don’t exist in new projects where you’re building something from the ground up, so it wouldn’t make sense to rely on such outdated technology.
Blockchain is by its very definition a bleeding edge technology, and many people promise it will change the world. However, public trust still isn’t there yet, the technology is at the stage of early adoption. Implementing a blockchain-only database could be a recipe for disaster, even though the technology is hyped up to be more secure than a conventional database.
Ultimately, the best mix for starting up or growing FinTech companies is somewhere in between bleeding-edge and tried & tested technology.
How to compete in the brutal FinTech market
Maintaining good PR is a big part of competing in the FinTech market, and this starts with reliable technology and solid design. People don’t want to see dark design patterns in FinTech, nor irresponsible software development practices that cause bugs and crashes. Your software needs to be reliable, foolproof, secure, and easy to use.
If you’re looking for a technology provider to join your FinTech project, contact us and tell us what you need.
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A few words from us
My name is Michał, I'm a Co-founder of Angry Nerds. It’s great to see you here! Over the years, we’ve been working on hundreds of innovative software projects across all major industries. In our work, we combine a unique technological approach with a deep understanding of business. Our team is eager to turn your ideas into successful digital solutions.