Techugo Canada Blog

6 Aug 2020

Learn The Ways To Create A Fintech App For Your Startup!

Global fintech market size is expected to grow to USD 124.3 billion by the end of 2025!

This stat is a clear sign that how the fintech industry is developing at a brisk pace, and every business is putting its best foot forward to target the niche market. To build an app that scales your business on higher grounds is not a random task, but requires planning and execution which responds to consumers’ needs.

This article will bring you a clear vision of how to create a fintech app for your startup, and take your startup to the next level.

Different types of fintech apps

The technology advancement has given a boost to a wide variety of fintech apps to come into existence. The current fintech market trend has brought different types of apps in this league to come forward and mark a difference. Some of the key players in this industry are:

  • Consumer Finance– This app trend type provides users with assistance in the management of their expenses.
  • Digital Payments– This app trend is most popular and helps the users to address the need for cashless, fast, and secure money transfers digitally. 
  • Digital Lending– As the name suggests, this trend handles different loan requests and processes effective interaction between lenders and borrowers.
  • Insurtech– This app tech trend aims to expedite the policy administration and claims processing.
  • Digital Banking– One of the most prominent trends in today’s time, allows users to manage their bank accounts and perform financial transactions without any 3rd party intervention. 
  • Digital Investment– With this retailer and investors get the platform to invest in different financial assets.
  • Regtech– This trend enables companies to solve regulatory issues and challenges by embracing innovative technologies.

Technology Trends

  • Artificial Intelligence
  • Blockchain 
  • Cybersecurity
  • Big data
  • Microservices

Must-have features for fintech apps

Your Fintech app must offer a solution that serves the users’ needs and solves their issues. Although, it becomes a stressful task, when you know there are pre-existing solutions in the market, but this is where you have to pave a smoother way. You need to determine how your fintech app can do something BETTER, CHEAPER, or with FEWER CLICKS. Here, we have mentioned basic but necessary features to be included in your app…

Sign-up/ Sign-in

Well, it won’t be wrong to say that your sing-in feature must be fluid, simple, and secure. You can match the taste of the app, by integrating voice and face recognition and fingerprint authentication.

Financial operations

Your fintech app must carry out the financial commands, such as digital payments, money transfers, mobile depositing, or balance checking. You must ensure that the app can perform different operations without any hurdle involved.

Personalized notifications

With personalized notifications, you can create an engaging user experience for your users, and update them about the transfer, reminder, and other notifications.

QR scanning

An app is all about convenience, and this is what your fintech app must follow as well. There must be QR code and card number scanning feature, wherein users don’t need to manually enter card digits, but they can scan a card for a card number. On the other hand, QR code scanning, also enables the users to scan the QR code and get the process done.

Advanced features

Financial management

You might find this feature, little absurd, but trust me it is that feature, which will be the game changer for your app. Not every fintech app offers personal finance management, and when you include tracking functionality for personal budgeting and savings, it will help your app to scale ahead.

Unconventional services

Yes, the inclusion of unconventional financial services, such as food ordering, ticket booking, charity donation, or even paying utility bills, will leave a positive impact.


For extremely engaging user engagement, this feature is needed. This feature will enable users to earn cashback after purchasing or making bill payments through the app. Also, the loyalty program feature will boost the engagement to a new level.

Essential steps to create a fintech app solution

Assess users’ requirements

First and foremost, you need to have an idea, which is very clear, distinct, and feasible. Get a vision that how your application should work and which of the customer’s needs it covers. 


You need to be very certain about the budget, and you must plan it clearly to achieve your goals. However, to start building your app with an MVP model is the best choice.

Integrate the latest technologies

Fintech is the fast-growing market; thus it is important to use the latest technology solutions while creating new applications.


Security is the inevitable aspect of a fintech app, and your app must abide by every factor that ensures safety within your app.

How much does it cost to build a fintech app?

Hmm, the development cost has a lot more to do with many other factors, and it is hard to share one particular figure, as the cost. The inclusion of different technologies, features, functionalities, app concept, and outsourcing must be taken into consideration to get one numerical figure.

Hence, a mobile app for fintech can go to any cost, and to get a particular bracket for the cost, you must share your concept further with your app development partner.

Summing up

Indeed, the concept of the Fintech venture is all about a profitable business stream. However, it is a tedious task to build a security-laden Fintech app solution, as multiple challenges are waiting out there. But fret not, as these challenges can easily be walked over with the right team at your side.

And this is where Techugo comes in with its extensive expertise in the fintech field. Grab a closer look at our portfolio, and let’s make a difference to your industry.  Don’t forget to check our portfolio to get acquainted with our experience. 


Founder & COO
He is dedicated to the never-ending improvement of Techugo. Except being a doppelganger of YouTube celebrity Bhuwan Bam, he is also a FOODIE from heart, and you can find him exploring new places.

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