Personal Finance App Development: Tips and Tricks

  • Manage everyday finances,
  • Create an executable budget, and
  • Plan investments and wealth growth.
  • Freemium model. The app provides free essential functions and advanced features in a paid Pro or Premium version. Users can pay for additional functionality, guides to save cash, etc.
  • In-app purchases and ads. In this model, access to all features is free. The app’s owners earn money by attracting advertisers and financial product suppliers.
  • Integration with third parties. If you create your finance app, you can provide paid access to your SDKs (Software Development Kits) and APIs (Application Programming Interfaces).
  • Sale of aggregated financial data. You can collect information and sell it anonymously to third parties. It’s legal if the data cannot be traced back to the individual user.
  • User dashboard that contains custom information, such as transactions or budget categories;
  • Accounts import and synchronization between user’s profiles and devices, and organizing personal financial transactions;
  • Support for different types of accounts that simplifies the management of various finances simultaneously;
  • Transactions tracking and categorization: the app defines transactions using previous examples or by vendor;
  • Budgeting and different reports: income and expenses, net asset value, investment portfolio, debts, etc.;
  • Built-in alerts and notifications that help users to make payments on time and avoid penalties;
  • Updates and backups that prevent data loss and allow users to track their spending; and
  • Customer support that is available 24/7.
  • Market analysis and research. This includes analysis of the market, the subject area (personal finance management), the app’s analogs’ functionality, and a go-to-market strategy.
  • Development project management. Experts have to decide which technology and platform to choose and define the desirable functionality.
  • Design. This includes selecting the app style, menu structure, and navigation templates that best suit the system’s purpose and functionality.
  • Mobile app development. It is recommended to create standalone solutions for iOS and Android platforms. This approach maximizes the application’s quality. To avoid duplicating API interactions and business logic, you can use cross-platform frameworks. Many developers have a negative opinion of using them, but this approach can be more beneficial for business.
  • Testing and launching. The QA team must thoroughly test the application. Once the engineers are satisfied that the app is working correctly, it can be submitted to the stores. Last but not least is the post-release system maintenance (support and regular updates).



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