How To Develop A FinTech App: Step-by-step Guide

How To Develop A FinTech App: Step-by-step Guide

Business across different industries is increasing using the fintech app. According to a report released by Market Data Forecast, the global fintech market is projected to reach $324 billion by 2026 at a CAGR rate of 25.1% for the forecast period 2022-2027. 

Today, companies and businesses are heavily investing in fintech app development to create secure and custom mobile applications for improving and upgrading their existing financial services. And it is no surprise the way the industry has turned to the mobile-first approach, the future of fintech mobile apps is bright. 

If you want to make a secure and powerful fintech mobile app, in this article, I will step-by-step guide you on how to develop a fintech app.

What is a Fintech App?

Fintech app is a mobile application that provides seamless features for performing improved financial operations and services. In fact, Fintech apps can be built for any field or product that encompasses any type of online transaction or financial activity. 

Businesses invest in fintech app development to build an effective digital solution that streamlines their financial, banking, or transaction services. Thus, it is often recommended for new businesses to invest in FinTech app development.  

How to Develop a Fintech App: Step by Step Guide

Step 1: Do Research and Decide Your Domain

Fintech is a broad sector. It may include solutions for any field like eCommerce, banking, insurance, real estate, mobile payments, investment, and trading. Therefore, the first step is to decide your niche. 

You have to conduct in-depth research to find out what problems currently consumers or companies are facing and how your Fintech app can help with that problems. Moreover, you should also do a competitor’s analysis to analyze what they are doing and how your app will com[ete with them. 

Step 2: Create an Outline of Your Fintech App Development 

Developing a fintech app might be a complicated task if you didn’t properly understand your app requirements. So here you need to create an outline of your fintech app development project. 

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You have to plan everything right from app ideation to designing and prototyping to development and launching. In fact, this outline will give you an outlook of the entire app development journey. It will also help you to find out potential loopholes so you can mitigate them early. 

Step 3: Find a Dedicated Fintech App Development Company

Once you are done with your research and create a clear outline of your Fintech app. You have to set up a team or directly find a dedicated app development company for your mobile app project. 

While setting up your own team can take considerable time, effort, and resources, the best decision is to build your Fintech app with a Fintech app developer that holds proven expertise in this niche.

Step 4: Decide the Features of Your Fintech App

Fintech app serves a specific domain. It primarily focuses on improving and streaming financial and transaction operations. Hence, you have to decide the features as per your app services and ensure they allow users to perform secure and seamless financial operations in the app. Lastly, these are the essential and common features to include in a Fintech app

  • Onboarding
  • User account
  • Basic financial operations
  • Security features
  • Payment options
  • Seamless UX/UI design
  • API integrations
  • Data visualization
  • Biometric sign-in
  • Accessibility features
  • Push notifications
  • Transaction history

Step 5: Choose the Type of Mobile App

In this step,  you have to select the type of mobile app that you want to build. Is it a native app or a cross-platform app? For native, you need platform-specific development tools and frameworks. Accordingly, for cross-platform app development, you only need one tech stack or frameworks like React Native, Flutter, and Ionic. 

Most businesses now prefer a cross-platform app development approach. This approach only uses a single codebase for Android, iOS, Windows, and other mobile OS platforms. Thus, they either hire flutter app developers or react native developers. 

Depending on the type of your app, you have to choose the tech stack and craft the list of required programming languages and tools.

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Step 6: Create an MVP and Test Your App

MVP (Minimum Viable Product) allows you to validate the overall performance of the features and functionalities of your app. Therefore, before you prepare for the launch of your fintech app. You should create an MVP version of your mobile app and check whether all the features are performing well. 

You should also put your app among the users to let them use and give real-time feedback about the features, design, and app experience. Then based on their feedback or review, you should make appropriate changes. 

Step 7: Develop and Launch

Till this stage, you would have a lot of useful data and insights about the potential flaws and errors in your app.  Accordingly. this data will help you make appropriate changes and updates and create the final version of your fintech mobile app. Lastly, After development, you can launch your app in the app stores. 


Fintech app development is booming. Businesses from all different industries are taking leverage from this growing technology sector for streamlining and improving their current financial services. Ultimately, this helps businesses to embrace the power of digital transformation.

If you aspire to drive maximum advantages of fintech, you should come up with an effective problem-solving fintech app concept so you can compete and grow competently in the market. 

Industry leaders recommend business people who want to build a successful fintech app should collaborate with a dedicated mobile app development company. 

About the Author

Josephine is a Flutter app developer at MobileCoderz-a well-known mobile app development company that creates best-in-class mobile apps for multiple industries. Moreover, she works for the company to build custom and industry-oriented applications for startups and business ventures. Aside from this, She writes articles on industry subjects and teaches kids about coding. 

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