Fintech App Development Solution

Scale up your finance business with FinTech app development

Coruscate

We deliver end to end solutions for a wide range of businesses

The year 2017 has been a turning point in the mobile payment systems and apps with integrated mobile wallets. These methods of digital payments have become fastest-growing means of payments.

Being an entrepreneur, if you want to create FinTech payment app, allowing people to transfer/receive money and cryptocurrency, make sure that you consider hiring the best FinTech app developers who can develop an app that can help you earn more and more profits.

Market Analysis

If we look at the market scenario of P2P money transfers, according to the report in Statista, there have been the following findings:

  • Transaction value in the P2P Money Transfers amounts to $111,955 million in 2019.
  • Transaction value is expected to grow by 15.6 % until the year 2023.
  • In the year 2019, the average transaction value per user in the P2P Money Transfers segments amount $ 543.3 in 2019.

Who uses P2P in the US?

In the year 2019, there will be 82.5 million mobile phone peer-to-peer (P2P) payment users in the US. According to the estimates, the figure is over a third of the mobile phone population. By the end of 2022, mobile phone users will have at least one P2P transaction.

What is driving the growth of P2P?

The consumers are willing to engage with the platforms which they feel they can trust. And a study conducted in April 2018 found that more than 49% of millennial smartphone users of the US between 22 to 37 old have used the P2P lending FinTech apps at least once in their lifetime.

Here is a graph showing the millions of increased users in the US in the last three years:

Scope of P2P FinTech app development

The debit and credit cards have become a new norm in cashless transactions. But there has not been any set standard for making payments on a peer-to-peer level. The needs like splitting rents and bills and sharing money for the birthday gifts use the highest P2P payments.

Here is a chart from Statista showing the increasing growth of transaction value in the financial sectors:

The scope of FinTech in the coming years is enormous. This is not just because of the growth of this particular industry but because it has a direct or indirect impact of all other industries.

The Fintech industry has also led to the growth and formation of new industries like RegTech, WealthTech, and InsurTech.

Types of apps you can develop in the FinTech app development category

  • Personal Finance
  • Banking and Credit Card Transactions Processors
  • Account Tracking
  • Multiple Account Support
  • Data Protection
  • Payers and Payees Management
  • Robust Financial Statistics and Custom Reports
  • P2P Lending FinTech, Crowdfunding

Our Projects

Coruscate has expertise in developing FinTech apps for various categories. We have developed many successful apps for various clients.

Things to consider for FinTech app development

FinTech App Development Cost

The cost for FinTech app development is decided on the basis of hours needed to complete the design, completion of development, and testing of the app. The cost is also dependent on the features that are included in the P2P lending FinTech by the FinTech app developers. Here is the hourwise breakdown of the development process:

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