Secrets of Building a Highly Functional Personal Finance App
In this fast-paced business world, nobody has time to invest their time and effort to use complex accounting systems to keep track of their earnings and expenses. Today’s consumers want simple and effective financial solutions to get their money in order.
Managing your personal finances sounds intimidating, thanks to personal finance apps, making it easier to simplify things. A personal finance app not only keeps a record of your finances but also helps you with budgeting and accounting. From tax advice to insurance and investment options, a personal finance app can help you solve a lot of financial problems.
Many entrepreneurs are investing in personal finance app development as it is a worthwhile strategy that provides you with a lot of lucrative opportunities in the fintech space. If you have made up your mind and are ready to invest in this amazing mobile app idea, here is a detailed guide on building a feature-packed personal finance app.
- Create a List of Features
- Choose the Right Development Technology
- Come up with a Great UX Design
- Don’t Forget to Integrate Security
- Create a Great MVP
- Testing is Important
- Launch the App Successfully
Create a List of Features
When it comes to creating a list of features for a personal finance app, research the fintech market to get a better idea of what your competitors are doing. You will find a number of personal finance management apps, but if you study them thoroughly, you will find out each app has its own unique feature and functionality.
It is advised to carefully research the user interface design and features of famous personal finance apps such as:
- You Need a Budget (YNAB)
Once you carefully research the best finance apps, you will get a better idea of how money management apps work and what are their main features. When it comes to developing your finance app, it is advised to include the fundamental as well as advanced features to make it useful.
Features App Developers Should Include in a Personal Finance App
- Data visualization
- Expense tracking
- Payment reminders
- AI-based Financial Coaching
- Reports and Statistics
- Credit card integration
- Integration with different payment systems
- High level of security
Choose the Right Development Technology
When you create the list of features for your personal finance app, it’s time to choose the development tools to bring your mobile app idea to life. Choosing the right tech stack and programming language can help you develop the best finance app.
If you are wondering which programming language works best for your money management app, have a look at this chart.
Python, Java and C++ are the few most popular programming languages to build fintech apps. Each programming language has its own pros and cons, it is advised to discuss your app idea, its key features and security integrations with a team of experts to choose the right mobile app programming language. The tech stack you choose for your fintech development project is solely dependent on your project’s scope and goals. So, choose wisely.
Come up with a Great UX Design
Creating a beautiful UX app design is one of the most important steps to creating a successful app. unfortunately, many app designers don’t focus on the user experience and put their best efforts into creating a beautiful user interface design. It is important to maintain a perfect balance between functionality and user interface design to deliver a memorable user experience design.
The design of a financial app should be user-friendly and guide users on how to use the app. It is important to know the preferences of your target audience to come up with a design that users enjoy. Keep usability, onboarding and data visualization in mind when creating a UX design for a finance app. Make it easy to use and guide users to complete certain actions in the app.
Don’t Forget to Integrate Security
Today’s consumers want safe and secure mobile apps. According to a survey, people across the globe are concerned about sharing their financial data and banking information. This is why it is important for mobile app development company to use top-notch security systems to protect their data.
Due to cyberattacks, data breaches and digital frauds, it has become critically important for mobile app developers to integrate proper security systems. By integrating app security, hackers will not be able to gain direct access to users’ financial data and sensitive information.
A personal finance management app has to meet data processing and management standards. It is strongly advised to perform penetration testing and security audits to make sure your app complies with the standards. In order to make your finance app more secure, you can use biometrics, two-factor authentication and other security protocols to prevent cyberattacks.
Create a Great MVP
With the increasing number of mobile apps, building an MVP is a smart step to come up with a successful application. It gives you a great opportunity to figure out the features that your target market wants as well as those it doesn’t need. Building an MVP model allows you to integrate basic features to figure out how it works in the real world.
Test and Launch the App
Okay, it is one of the most important steps of app development that can make your app successful. By performing rigorous testing, you can make sure the app performs smoothly on multiple devices. Developers and QA testers are advised to perform penetration testing, functional testing, performance and usability testing to make their app smooth.
Once your team performs thorough testing, it’s time to launch your app. Marketing your app to the right users can help you get more downloads. Creating an explainer video for your personal finance app is a worthwhile idea to show your app’s unique features and demonstrate how to use the app.
Are You Ready to Launch a Personal Finance App?
Creating a high-performance personal finance app is no easy feat. It needs a lot of research, knowledge and skills to ensure a smooth development process and deliver an awesome user experience. Hiring a team of expert android developers will help you come up with a fully-fledged mobile app that performs well and helps users to manage their finances efficiently.