FinTech startups give users and companies an endless amount of methods to maintain their money. However, all solutions have common problems. Let’s disuss them and try to find the resolutions in order to improve your company.
Protection problems plus reduction of trust
Safety can be the most important problem while it reaches mobile banking, pay apps, and FinTech software development in common. Regular banks have protection guardians, cameras, strongrooms, entrances to hold assets protected.
Decision. To defend the FinTech purpose, you can achieve many technologies:
- Biometric Authentication
- Data encryption and obfuscation
- Real-time warnings
- Behavior analysis
Integration of big data and fake intelligence
Big data and artificial intelligence hold a couple of essential technologies for any currency trading software. Big data permits companies to manage and secure learning about the user, of their surname, family members, and cultural situation to commercial management, methods, and enterprises within the form.
Decision. The most useful resolution is to choose a big data and artificial intelligence expert and let them look into your company f to figure out the requirements and discover the production’s best methods.
Numerous FinTech applications are blockchain-based. People believe that blockchain owns fallen short of expectations, while others are confident this is the fate of all data changes on the Internet.
Including blockchain, you can obtain your FinTech software extra reliable as blockchain permits you to pursue every grade of a deal and stop any changes in it so you can eternally see whichever occurred to your capital.
Decision. Blockchain integration needs special expertise, so you will require a specialist who understands how to safely combine it into your order.
Make certain you remain by the rule and retain your reputation polished to evade any management limitations on your mobile services as authorities are indecisive to concede heavy blockchain selection at this time.
Agreement with management guidance
Government guidance will worry you still if you have more popular FinTech software (djangostars.com) that does not use blockchain and additional technologies that become although to be tested.
Solutions. Examine your software and physical methods for proper agreement and, if necessary, hire a legitimate advisor who will go over all the features in particular.
The need for Mobile and Technical expertise
In many governments, finance is very common, and most complete banks do not have decent mobile banking or additional user-friendly fintech services.
With the foundation built-in thermal banks, on the roads, and in stores, trading relevance is becoming an important device. For example, the Ukrainian mobile banking software Mobindustry fintech app, which helped pDeveloped by application developers, proposes:
- Payment in public transportation through QR code
- In-store payments with an NFC chip
- Automatic camera scan of the credit card number
- Fingerprint two-factor authentication
Solutions. Organize the additional agency or choose outsourced developers to construct an app for FinTech outcomes with the mobile development best methods in mind. An extra method to get a mobile specialist is to choose an expert to advise you to build a development company or train a current company and receive a policy.
Growth Challenges and Effective Marketing to Attract Customers
With the increasing number of fintech companies every year, the challenge is that more demand leads to more competition, making it harder for your company to stand out from the competition. Not every company will make it, and many won’t even become profitable. The best way to ensure you’re one of the companies that do is to invest in the right marketing strategy. The goal is to be one of the fintech companies that make it. But in order to achieve this, you need to increase your visibility online, as in today’s age everything relies on the internet and search engines. To do so, one of the best methods is implementing an effective fintech SEO strategy.
User recognition and user action
User participation and maintenance are some of the biggest difficulties in developing any banking application.
Solutions. Make certain your UI / UX extracts are safe and user-friendly.