Creating an entirely new FinTech App is a complex, stressful and time-consuming challenge. These types of applications are used to manage all kinds of financial tasks, from transferring funds between bank accounts to issuing invoices, which results in increased cyberattacks and threats. This is mainly due to the large amount of personal details, private and sensitive data that is collected.
The accounting industry has come a long way in terms of development over the years. What was previously known as solutions based on manual, paper-based record keeping and bookkeeping are steadily being replaced by digital tools. Today's accountants are now taking advantage of modern technologies in the form of mobile and web applications to improve efficiency, streamline the accounting processes they carry out and, most importantly, have constant access to real-time data.
The FinTech sector, despite economic and regulatory challenges, is constantly growing in market value. Newly emerging financial technology companies and startups are introducing new, progressive solutions to the financial industry, mainly for this reason.
Since you are here, you probably have your own idea for a business, and all you need is not only advanced technology, but above all, a talented development team!
In this article, we will show you how to build the right team who maximize productivity of your project and make your FinTech product successful and high quality!
There are many ways to conduct online transactions these days. Nowadays, we all meet financial solutions such as online banks, credit and debit cards, cryptocurrencies and digital wallets.
Nowadays, digital platforms for stock traders aid in the automation of many processes, the improvement of accuracy, and the refinement of trading strategies. Creating a custom stock trading platform provides modern solutions for gathering and analyzing large amounts of data in order to gain valuable insights.
FinTech, also known as financial technology, has revolutionized banking and modern finance. The definition of FinTech includes all innovative technologies that are used to improve and automate financial transactions. These include simple applications for mobile payments, as well as more complex technologies such as cryptocurrencies or blockchain.
The demand for big data in the FinTech industry is noticeably growing. Big Data has pioneered many innovations in the financial technology sector, including open banking, a system that provides third parties with access to financial data via application programming interfaces (APIs).
With regard to a company's growth, it frequently appears that it has a variety of systems and applications that do not effectively communicate with one another. One of the biggest issues in this field is accounting. Fortunately, there are tools available that can help streamline the process of managing finances. Among them is Xero, a tool that more and more FinTech companies are reaching for. What is Xero used for and what benefits does it generate for companies?
FinTech applications are often associated with something we use out of necessity, not because we like them. Their main task is to help with payments, finance management, or taking out loans. For many years, the use of the services of banks or financial instruments has been moving to the online world, which means that the services themselves are refined and there are many innovations. The growth of the FinTech market has been observed for many years, but its further development is also expected. The ease of use of financial products results in a regular increase in the number of users. At the same time, there are more and more FinTech products, which makes it necessary to offer newer and more comprehensive solutions.