AVADA-MEDIA

DEVELOPMENT OF FINTECH STARTUPS

DEVELOPMENT OF FINTECH STARTUPS

AVADA-MEDIA

DEVELOPMENT OF FINTECH STARTUPS AVADA-MEDIA

The fintech industry continues to grow rapidly and is changing the way people think about financial transactions. According to CB Insights, in the first quarter of 2021 alone, this sector of the economy attracted over 13.4 billion in investments and, according to analysts’ forecasts, this figure will only grow.

The increased demand for fintech technologies is justified, because they are aimed at improving the quality of financial services, with which, in one way or another, each person is connected. Therefore, fintech startups have every chance of finding investors and conquering a market that is still open to innovative ideas.

Fintech start-up development

Directions and trends in fintech

AVADA-MEDIA

Directions and trends in fintech AVADA-MEDIA

The field of financial technology combines a huge number of areas. At the same time, a startup does not need to be limited to just one. It can develop in several areas at once and offer users advanced functionality in one place.

Consider the most in-demand destinations in 2021.

Personal finance

Smartphone and PC applications that help the user manage their own
savings:

  • analyze expenses;
  • predict future spending;
  • make investments;
  • receive a variety of financial reports for personal use, etc.

Payments

Apps and tools that enable users to quickly, conveniently and securely pay bills using a smartphone or PC. These services include Google Pay, Apple Pay, Samsung Pay.

Lending

A popular fintech area that opens up the possibility of lending without the participation of banks in the P2P format. Often, startups in this area operate on the basis of distributed ledgers or on the blockchain, due to which they provide a transparent and secure relationship between lenders and borrowers.

Money transfers

Services through which users can transfer funds to each other’s accounts without the participation of banks, which can significantly reduce transaction fees. They are often developed for IOS and Android mobile platforms, and can be used for international transactions.

Popular startups from this area:

  • Revolut;
  • Klarna;
  • TransferWise.

Traditionally, translation apps are in high demand as users are always looking for ways to save money on financial transactions.

Fintech for business

Segment of startups and companies focused on meeting business needs. For example, it can be data exchange, mutual settlements, financial reporting.

We should also mention RegTech services, which help businesses to quickly adapt to changes in legislation and market conditions.

Working with Big Data

Big Data analysis helps businesses to effectively fight fraud, so the technology is often used by banks and insurance companies for fraud monitoring and credit scoring.

In addition, services working with Big Data help a business to better know its competitors and target audience, and therefore can significantly increase sales.

Artificial intelligence

AI recognizes and analyzes data in real time, and then makes recommendations for user actions. This makes the technology valuable and almost irreplaceable in the fintech market. For example, AI can be used for fraud prevention, digital banking, financial investments, and more.

Blockchain

Technology that enables the creation of reliable and transparent financial technology applications. The blockchain stores data in blockchains that cannot be deleted or tampered with, while the entire system is decentralized, which guarantees its security.

6 steps to launch a fintech startup

AVADA-MEDIA

6 steps to launch a fintech startup AVADA-MEDIA

There is a lot of work behind the launch of a fintech application that ordinary users often do not see. Let’s consider the main stages of launching a startup in this industry in 2021.

1. Study of laws

The field of finance is highly regulated, so before starting to develop an application, you need to make sure that it complies with the laws of the country under whose jurisdiction it will work. It should be borne in mind that the laws in different countries may differ. For example, in most countries fintech companies can operate under conventional licenses, while in the UAE they must obtain exactly fintech licenses.

2. Choosing a niche

Next, the startup needs to decide in which niche or niches it will work. We examined the popular areas for 2021 above.

3. Study of competitors

Most of the leading players in the fintech market are giant corporations like Microsoft, Apple and PayPal, which cannot be matched by the amount of advertising budget or the deposit of trust from the audience. In such conditions, the main “weapon” of startups is innovative ideas that allow to create a unique solution to the actual problems of users.

Therefore, before offering your innovative solution to the market, you need to make sure that there are no similar projects on it.

4. Decide on a development team

The experience and reputation of the development team often plays a decisive role for investors. Therefore, the choice of contractors must be taken seriously.

AVADA-MEDIA has all the necessary knowledge and skills to develop fintech startups. We use only the latest technology stack to ensure the highest level of security and usability of such applications.

5. Decide on financing options

There are many ways to get funds for the development of a startup,
including:

  • crowdfunding;
  • bank loans;
  • venture capital;
  • startup contests;
  • private investors (business angels).

However, in order to receive financial support, you must have an MVP – the minimum viable product. It is a proof of concept and is where many successful startups have started.

6. Development

Startup development is the final stage of the launch. Unlike the rest of the steps, this process is continuous, as it needs to be constantly improved to keep the product up to date.

Fintech start-up development

Fintech startups development in AVADA-MEDIA

AVADA-MEDIA

Fintech startups development in AVADA-MEDIA AVADA-MEDIA

The AVADA-MEDIA company has been working in the market of innovative technologies for over 10 years. The software products developed by our specialists are used by millions of people not only in Ukraine but also in the CIS countries, Europe, the USA and Australia. We guarantee the quality of your startup’s technical development.

Fresh works

We create space projects

Fresh works

The best confirmation of our qualifications and professionalism are the stories of the success of our clients and the differences in their business before and after working with us.

Our clients

What they say about us

Our clients What they say about us

Successful projects are created only by the team

Our team

Successful projects
are created only by the team Our team

(Ru) Photo 11
(Ru) Photo 10
Photo 9
Photo 8
Photo 7
Photo 6
Photo 5
Photo 4
Photo 3
Photo 2
Photo 1
(Ru) Photo 12

Contact the experts

Have a question?

Contact the experts Have a question?

+
@
I accept User agreement and I give my consent to processing of my personal data
Personal data processing agreement

The user, filling out an application on the website https://avada-media.ua/ (hereinafter referred to as the Site), agrees to the terms of this Consent for the processing of personal data (hereinafter referred to as the Consent) in accordance with the Law of Ukraine “On the collection of personal data”. Acceptance of the offer of the Consent is the sending of an application from the Site or an order from the Operator by telephone of the Site.

The user gives his consent to the processing of his personal data with the following conditions:

1. This Consent is given to the processing of personal data both without and using automation tools.
2. Consent applies to the following information: name, phone, email.

3. Consent to the processing of personal data is given in order to provide the User with an answer to the application, further conclude and fulfill obligations under the contracts, provide customer support, inform about services that, in the opinion of the Operator, may be of interest to the User, conduct surveys and market research.

4. The User grants the Operator the right to carry out the following actions (operations) with personal data: collection, recording, systematization, accumulation, storage, clarification (updating, changing), use, depersonalization, blocking, deletion and destruction, transfer to third parties, with the consent of the subject of personal data and compliance with measures to protect personal data from unauthorized access.

5. Personal data is processed by the Operator until all necessary procedures are completed. Also, processing can be stopped at the request of the User by e-mail: info@avada-media.com.ua

6. The User confirms that by giving Consent, he acts freely, by his will and in his interest.

7. This Consent is valid indefinitely until the termination of the processing of personal data for the reasons specified in clause 5 of this document.

Join Us

Send CV

+
@
I accept User agreement and I give my consent to processing of my personal data
Cookies
Please allow cookies to be more efficient with your site.

Дана версія веб-сайту завантажена за замовчуванням для користувачів в Україні. Якщо ви хочете повернутися на попередню версію веб-сайту натисніть "Повернутись назад", для того щоб залишитися натисніть "Закрити". Натискаючи "Повернутись назад" або "Закрити" ви погоджуєтесь із Політикою використання файлів Cookies