The primary component of innovation in the financial industry is technology. It makes finance user-friendly with the trendiest apps that work seamlessly. FinTech app development is an important trend in the finance sector.
Your banking to cryptocurrency investments everything is just a click away. The FinTech industry uses Android as its go-to platform for developing robust and agile financial apps.
A Statista report states that FinTech companies will generate total revenue of 96 billion Euros by 2024. So, the industry is sorting out customer problems by developing highly targeted Android mobile apps to help stay competitive.
Why Choose Android for FinTech App Development?
- Larger Pool of Users
- FinTech companies pick Android over iOS because the operating system is popular globally. Android has over 2.5 billion active users across the globe in more than 190 countries. Google Play has grown enormously, with more than $38.6 billion of revenue in pocket. Android is becoming a sure-shot usable platform in most developing and even developed countries. With this wider pool of users, businesses choose Android for FinTech app development or mobile banking apps. You can expect more downloads as compared to iOS apps.
- Freedom for More Innovation
- The use of the Android operating system gives plenty of room for innovation. You can freely experiment with the filters that help provide usable and readable apps for the users. The policies of Android are flexible, and developers get to experiment with the new elements. When you choose Android for app development, you encourage new ideas and instruments for adding unmatched value to the user’s life
- Low Barriers to Entry
- FinTech mobile apps created using the Android platform get easier entry into the market because the Android developer can deploy the apps daily. You can register easily with an Android app development platform as a developer by submitting your Android Package Kit. Securing approval as a developer from Apple is a tough task, requiring several steps.
- Moreover, Android apps are approved and deployed in a day, and on the Google Play Store, the onboarding will take a week. You can improve the app according to the user’s feedback and submit updates for FinTech apps without hassle. Android for FinTech apps wins in the area of efficiency.
- Easy to Learn
- Android app development companies have a dedicated development team that has mastered this OS system. Android uses the Java programming language, which makes it easier to code and implement. Many developers are familiar with this language, which enables them to create an easily accessible and hassle-free FinTech app.
- For developing an Android app, you need not hire an expensive developer. An amateur developer ready to upskill can also create an innovative app.
- Lower Development Cost
- For FinTech companies, the cost of developing an app is the most critical aspect. Android uses Java, which is quite common, and anyone can learn. Another aspect is a developer with lesser experience can also experiment and develop an app. It will greatly impact the FinTech app development cost, and you can move expenses toward your core businesses.
- Apart from this, supporting Android apps means you can collaborate with several transaction providers and intermediaries. Even AI implementation will help make money transfers convenient and remove the traditional paperwork systems.
- Futuristic Advancements
- The developers leverage AI for Fintech Apps, IoT, Big Data, and Blockchain. AI and ML can help you with data-generated insights, whereas IoT will enable you to create an internet-based connected ecosystem. Here you can control the transactions through voice-controlled devices.
- Blockchain will help make the transactions encrypted and provide a secure financial ecosystem. Implementing all these aspects in developing robust FinTech apps will help you stay ahead of the competition.
- Easily Port to other Operating Systems
- Android is an open-source platform, and Google does not charge any fee to use this platform. You can get an Android app development kit for free. It even works well not only for native apps but cross-platform too. You can tweak the code for building FinTech applications. Moreover, there is no restriction in developing an Android FinTech app. Developers can use Mac, Linux system, or Windows desktop. Android is the future of FinTech because developers can easily develop the apps and submit them on Google for free or with a one-time subscription.
- Reliable Security
- Security breaches are common for FinTech apps that can lead to a stressful situation for financial technology application development companies. It can impact brand reputation badly too. To make things right, the Android FinTech app development system will create highly secured FinTech apps. The best Android app will possess multi-factor authentication, encryption, and biometric authorization of the users to avert any sabotage. Using technologies like Blockchain and AI can make access secure and tamper-proof.
How to Choose FinTech App Development Companies in India?
- Check if FinTech app development companies India provide the utmost security and use advanced technologies.
- Check whether they can do away with the simple to complex integration of the Android FinTech apps.
- Ask them about the cost or other expenses of creating the FinTech app.
- Check after-sales customer support to ensure you are not suffering when the app requests maintenance.
- Discuss with them about the product turnaround time to the market.
- Check out if they can create Android apps integrated with other third-party platforms.
- Check with the developers’ team about the tech-driven methods they will use to create agile apps. They can customize the app according to the requirements and needs of their target market.
Hire the Best Android Developers for FinTech App Development!
These are a few significant reasons for using Android OS for FinTech app development. You can choose developers who understand your futuristic requirements and motives.
BoTree Technologies, the best enterprise software development company, provides its clients with robust FinTech app development services. The developers create customized apps related to particular industry requirements.
Reach out to BoTree Technologies today for better ROI.
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