Welcome to the Digital Banking | Build Fintech App | Code Brew Labs

Holla Peeps!

I think you have just started with your winter holiday plans. So what you plan to do this year? WAIT! Prior to that have you checked the status of your finances? Of course, you do! 

Money, savings, and budget are the few terms just jamming up your head right now, yes?

It’s the same situation your customers feel as well. 

Just like you feel your finances to be managed automatically, so does your customers. They too have the right to make the best out of small expenditures. 

Chillax! I won’t be taking more than ten minutes. Sit down on your couch with a glass of eggnog, since the read is going to be long, but useful. 

There are a number of best fintech app ideas introduced by fintech app development companies, who are helping the existing financial structures and larger financial corporations that are less into technology.

fintech application development trends It is a multi-billion-dollar industry, still dominated by a number of fintech startups.

For fintech domain, the rise of fintech startups, stress on building best fintech apps for any type of financial business also has some concrete reasons behind.

In the earlier days, there were only a few data which the underwriters have while assessing the risk.

Visit: E-commerce App Development Company 

But what they lack is a collaborative environment for which they need to get into an effective partnership with the traditional institutions, as per the Capgemini Reports 2018.

Few businesses are interested in creating the best fintech app for auxiliary financial services, which includes :

This is till the time that you want to make a big purchase like a house or a car and suddenly realize that you do not have enough savings in your account and are not eligible for a loan!

And no, you do not need to do any kind of hard work or number crunching as mobile application like Cleo – an AI based budgeting application will do the heavy lifting for you.The Global Fintech market is predicted to cross $300 billion by 2024.

The mouth-watering proposition of making a fortune in the Fin-tech mobile app sector has prompted many entrepreneurs to think about Fintech app development.

This is because this AI-powered Fintech app is the new poster boy of the Finance & Technology domain.What is Cleo app?Cleo is an artificial intelligence-based financial-technology app that helps the users in accomplishing their budgeting goals.The beautiful thing about Cleo is that when a user asks questions related to their bank accounts and payment details, the AI-enabled chatbot of the app answers the questions in an easy to digest manner.

For example, if a particular user asks how much did he/she spend on clothing past month, then Cleo will send the user a detailed spending report containing the date, transaction time as well as the name of the merchant.Because of the read-only method employed by Cleo, only the user can withdraw money.

To avoid privacy issues, Cleo never saves the credentials of the users on their servers, and they even encrypt sensitive data like transaction history and personal information.Cost to build an AI-based fintech mobile application like CleoThere are many factors based on which the fintech app development cost matters.

Mint is the perfect example of a financial app. If you are developing one, you should do everything Mint is doing. Click on this link if you want to know what features they have included in their app.