DEVELOPMENT AND IMPLEMENTATION FINTECH SOLUTIONS FOR BUSINESS

Initially, the term fintech was used to describe organizations that create software in the field of working with money. From the field of application of new technologies has expanded and went beyond purely financial. At present, fintech technologies are also widely used in the field of insurance, trade and risk management.

Having seen the competitive advantages of new startups, traditional banking institutions began to actively introduce fintech into their own activities. Oschadbank, Privatbank, Mono Bank, FUIB, Ukrsibbank and other Ukrainian banks are actively introducing computer-based technologies, which allows attracting new customers and reducing business costs. . The same work is carried out by other banks in the world.

Financiers were the first to use fintech technology, but now such software solutions are increasingly being implemented in other areas of the business. In any business in which cash settlements take place, you can use fintech technology. Various cash settlements are made almost everywhere: in public utilities, OSMD, state bodies. And everywhere, the use of fintech technologies improves work efficiency.

That is why Ukraine is implementing a program of digital transformation of the state. If it is implemented, most of the public services can be received via the Internet. There will also be government cash settlements (tax payments, subsidies, etc.). If cash settlements are carried out in your business, the use of new fintech technologies can always increase the efficiency of your business, and Avada Media is ready to help you with this.

Fintech is such a new direction in business that there is not even a generally accepted definition for it. From the point of view of the type of activity, fintech can be defined as a new financial industry built on the use of the latest IT technologies for data collection and processing. From the point of view of the products used, fintech are new applications, including mobile ones, processes, and business models, used primarily in the financial sector.

Fintech technologies use the latest scientific achievements in the field of: collecting and processing big data, artificial intelligence, robotics, distributed registries, cloud technologies, biometrics, mobile technologies. Currently, fintech is most widely used in the financial sector. But similar technologies can increase efficiency in those industries where financial turnover is not the only component of business processes. That is, such technologies can be effectively applied in any organization. Avada Media has the experience of such developments and is ready to offer business system software solutions.

Naturally, the use of new IT technologies should pay off by gaining new advantages, and fintech offers such advantages. These include:

• Reducing the cost of doing business. First of all, this advantage is realized due to the possibility of reducing the staff of hired personnel. Software solutions do not need to pay a monthly salary, they do not get sick, they are always in a good mood and they work much faster than people. Additional benefits come from the rejection of paperwork. Already now, the so-called neobanks are operating – these banking institutions may not even have traditional branches. All neobanks work through sites and mobile applications. No need to buy or rent premises, furnish them with furniture and appliances to hire personnel. You can focus on core business, without major recurring expenses.
• Acceleration of settlement operations at any time. In addition to the fact that software products work faster than people, they also work without days off, holidays and vacations, 24 hours a day, 365 days a year.

Fintech-technology allows you to issue loans, sell insurance policies and products, make any calculations continuously at high speeds.

• Optimization of business decisions and business processes in general. The use of big data in fintech technologies allows you to make effective decisions based on a huge amount of data in a short time. The use of artificial intelligence technologies and machine learning provides a continuous improvement in the quality of business solutions directly in the process of using fintech systems.
• Depending on your needs, developers of fintech programs are able to create both a global financial organization on the Internet and an inexpensive mobile application with which, for example, your customers can order goods and services and pay for them.

The list of possible benefits of using fintech technology is not complete. Contact Avada Media to find out exactly what business benefits you can get.

The cost of software development depends on the volume of tasks. The development of Internet banking is a very large-scale and rather expensive project, as it requires long-term work of qualified specialists. If you need a small application, labor will be required less, the cost of such a project is available even for small businesses.

The exact price of a fintech solution can only be calculated on the basis of a detailed technical specification. The development of such a task also takes time and is relatively expensive. Therefore, when ordering a software product, they usually focus on the hourly wages of developers. One project can be executed simultaneously by several specialists, this reduces the time required to bring it to readiness.

Avada Media has been developing and implementing high-quality software products for over 9 years. During this time, our clients have become companies not only from Ukraine, Russia and the CIS countries, but also Australian, American, and European firms. Our programs work great, and many of our customers come on the recommendation of friends.

Avada Media has experience in creating software for fintech of any complexity, from complex banking sites with the ability to create personal dashboards for clients with the function of managing accounts (Internet banking), using a computer or mobile devices to small and relatively simple applications.

We are ready to provide the following types of services:

• Development of computer and mobile fintech applications on order.
• Website development of financial institutions (banks, MFIs) from scratch or refinement of existing software based on the latest scientific achievements.
• Development of solutions for fintech consulting.
• Development of payment systems and solutions for online payments.

Order software at Avada Media and all your fintech ideas will come true.