Mobile Banking App and the Fintech Sector

Mobile banking apps are becoming increasingly popular in recent years due to the steady and increasing demand for Neobanking solutions – which incorporate exclusively online mobile banking solutions to traditional, legacy banking. When seeking the answer to how to make a mobile banking app, fintech start-ups must consider the three main stages that a Neobanking mobile app is created. The following article will discuss these three major stages that are relevant to the mobile app design process when associated with creating a Neobank mobile app.

Mobile banking apps are made in three major stages:1) Conceptualization, 2) Stakeholder management, and finally 3) Development.

Conceptualization

In this stage of development, the idea for a mobile banking app is conceptualized. The idea for the mobile banking app was created ideally by the founder of a Neobanking start-up and designed according to what needs are required from it. Questions that will be answered in this stage are as follows: What features does the app need? What type of services will it offer? How will the data be stored and managed? What are the desired outcomes for this product? Once the start-up has conceptualized these ideas, they can progress onto the further stages to identify how to make a mobile banking app to solve the issue they are trying to resolve in traditional banking.

Stakeholder management

In this stage of development, the founder of a Neobanking start-up must define their target market. This can be done by recognizing who they want to use their app and how they want to use it. It’s important to also discuss what type of competition exists in the industry and how your app actually competes with existing products on the market. Alternatively, the company can select a business model, such as those associated with Neobanks, that will be relevant to the stakeholder management stage. Different business models will work for different stakeholders, so it is important to understand the business model that is most relevant to the intended user base when creating a Neobank mobile app.

Development stage

The next stage of development is when the app is actually being developed. While this is still in its early stages, it’s important to understand how the app will function as a whole and what all functions will be included. It’s also important to understand how many functions are being planned on the app, as well as how they are planned to be prioritized and designed. It can also be useful at this stage of the planning process for start-ups to also decide on the design architecture of their mobile banking app and to choose which engine, platform, or programming language the app will be developed in. Popular banking app solutions that are often used for mobile banking apps are creating the app in Kotlin, React Native, Flutter, or Swift. These are mobile-app development frameworks that are highly compatible with mobile banking apps and can be used to provide multi-platform applications that can be used by Neobanks to create their mobile banking app.

Check out: Make Your Money Work For You with Offshore Banking in the UK

Recent Posts

How to Trade in Path of Exile 2: A Beginner’s Guide

Trading is a fundamental aspect of Path of Exile 2, enhancing your gaming experience by allowing you to acquire desired items and currency. This...

Mastering PoE Trade: A Comprehensive Guide to Trading Success

Trading in Path of Exile (PoE) can be overwhelming for new players, especially without an official auction house. With a player-driven marketplace, PoE requires...

Travis Touch Plus Voice Translator Device: User Manual

Introduction In today’s interconnected world, breaking down language barriers is essential. The Travis Touch Plus Voice Translator is an advanced portable device designed to...

MUAMA Enence Voice Translator: Complete User Manual

In today’s globalized world, the ability to communicate across language barriers is more essential than ever. The MUAMA Enence Voice Translator has emerged as...

Seven Easy Fixes To Protect Your Android phone Privacy

As Android phones become more integrated into our daily routines, they store an increasing amount of personal information, making privacy concerns a significant issue....

Your Mobile Phone Ringtones Influence On Others

Mobile phone ringtones are often more than just notifications. They have the power to shape our social interactions, public image, and overall environment. What...

Best Flagship Smartphones of 2025: A Comprehensive Guide

The smartphone market is expected to reach new heights in 2025. With cutting-edge technology, stunning displays, and improved AI systems, the best flagship smartphones...

More from Author

Read Now

The 6 Best Gaming Laptops to Buy

Gaming laptops provide powerful performance, portability, and versatility. Whether you’re a casual gamer or a professional eSports competitor, choosing the right gaming laptops to buy can make a world of difference. In this article, we will explore six of the top gaming laptops available today, detailing their...

What is Deepfake? What is It and How does It Work?

What is Deepfake? Deepfake uses artificial intelligence (AI) to manipulate media—images, videos, or audio—to make them appear real, though they are entirely fabricated. The term combines "deep learning" and "fake," highlighting the AI techniques used to create such content. This technology has rapidly advanced, making it increasingly...

Impacts of Quantum Cybersecurity on Digital Protection

Quantum computing is transforming data processing, creating both opportunities and risks for cybersecurity. The Quantum Cybersecurity Impact describes how quantum technologies could both strengthen and challenge existing cybersecurity frameworks. This article delves into the implications of quantum computing on digital security, exploring its potential threats and examining...

How MDM plays a vital role in Healthcare Technology?

In the ever-evolving healthcare sector, accurate data management is more critical than ever. With the increase in digital health systems, the need for robust systems to manage and streamline data has led to the widespread adoption of Master Data Management (MDM). MDM in healthcare technology ensures that...

Revolutionizing Security: The Role of Identity Verification with AI in Modern Systems

Identity verification with AI is changing the way organizations authenticate individuals. Traditional methods of verification, such as passwords or security questions, are increasingly vulnerable to hacking and fraud. AI-powered solutions use advanced algorithms, biometric data, and machine learning models. These technologies offer higher security and efficiency. AI...

Website Speed Optimization: Tools and Techniques

Website speed optimization refers to the process of improving the load time of a website. A fast website ensures that users have a smooth experience, increasing engagement and retention. Speed optimization involves technical improvements and tools that help your website load faster, improving both user experience and...

Top Integral Mobile Apps for Productivity

In today’s fast-paced world, mobile apps play a critical role in how we live, work, and connect with others. Among the vast array of apps available, some are considered essential tools, or integral mobile apps, for both productivity and entertainment. These apps seamlessly integrate into our daily...

Empowering Women in the Shipping Industry

The shipping industry has been traditionally male-dominated, but women are gradually making their presence felt. While progress has been made, the industry still faces significant challenges when it comes to gender equality. Women bring diverse perspectives and fresh ideas, which are essential for growth and innovation. For...

How to Protect SaaS Data Security Effectively?

As the adoption of Software-as-a-Service (SaaS) solutions grows, so does the need for robust data security measures. SaaS platforms often store sensitive data such as customer information, financial records, and intellectual property. Ensuring the safety of this data is critical for maintaining customer trust, complying with regulations,...

How to Scale Your SaaS Business: Tips from Industry Experts

Scaling a Software-as-a-Service (SaaS) business is a challenging yet rewarding journey. It requires not only a deep understanding of your market and product but also strategic planning and the implementation of efficient systems. Whether you're a startup or an established SaaS company, the principles of scaling are...

SaaS Customer Success: Best Practices for Retention and Growth

In today’s fast-paced Software-as-a-Service (SaaS) environment, customer success is more than just a support function. It is a vital strategy for retaining customers, ensuring satisfaction, and driving growth. SaaS companies that prioritize customer success are able to foster long-term relationships with their customers, reducing churn while expanding...

Discord App: How To Solve The Discord Login Problem on Mobile Phones and Different Browsers

If the Discord App has been causing login issues for you, you're not alone. Many users struggle to access their accounts. If you’ve been experiencing login issues with the Discord App, you’re not alone. Many users face difficulties when trying to access their accounts. Luckily, most login...