Advancing technology has started influencing the BFSI sector, and we witness innovative app solutions in financial services. These solutions fall under the fintech category and contribute to improving services.
Mobile wallets, banking apps, and cryptocurrency-related apps are some of the most popular examples of fintech apps. In this blog, we are going to understand the role and benefits of cross-platform app development for a fintech firm.
But before moving forward, let’s have some interesting numbers related to fintech startups. As a Statista report has mentioned, there were over 10000 fintech startups in the Americas alone as of February 2021, which makes the region with the most number of startups in the world.
The EMEA (Europe, the Middle East, and Africa) region has over 9000 startups in the same period.
As per the forecast, the fintech sector’s revenue was expected to grow at an average rate of around 12% to reach a value of 188 billion euros by the end of 2024. Fintech app development is one of the key reasons for the phenomenal growth of this sector.
User-friendly and intuitive financial apps can facilitate customers to understand complex financial information and ensure secure online transactions.
One of the major objectives of fintech app development is data security. Another important objective is to establish a seamless integration with external services like payment systems using an API. Here, the cross-platform apps work wonders.
Let’s dig deep into the key benefits of cross-platform app development services in building fintech applications. The cross-platform approach can cover multiple operating systems with only one codebase.
Key Ways Cross-platform App Development Benefits Fintech Sector
Simply put, a cross-platform app is a digital project that can flawlessly work on multiple digital platforms and environments.
A Flutter development company, AngularJS development company, and ReactJS development company can build such apps. Out of several advanced frameworks available, Flutter and React Native are the two most important frameworks for developing cross-platform apps.
Expanding Reach
This is the first and foremost benefit of cross-platform apps for the fintech sector. Developers can build apps for several platforms using a single codebase.
As a result, fintech companies and even startups can reach a huge audience consists of Android and iOS device users.
The fintech app can be easily downloaded across all major platforms right away and thereby addressing a large audience.
Originally Source: benefit of cross platform app development for fintech
No comments:
Post a Comment