Top 11 Fintech App Development Ideas for Fintech Startups to Invest

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By: Sagar Sharma

Top 11 Fintech App Development Ideas for Fintech Startups to Invest

There was a time when to send money, transfer funds, deposit/invest money, make payments, etc. we used to visit banks or respective financial institutions.

With the emergence of technologies, everything is possible with just a few clicks on the mobile phone.

Fintech is one of the industries that use technologies to create new and deliver better financial services to consumers. It empowers different startups and encourages them to compete with the banks and leading financial institutes.

Many startups have been doing great by considering different fintech app monetization strategies. The apps not only help them to serve the financial services to the large audience but also to deliver a better customer experience.

Fintech market is booming these days as many startups have started developing fintech apps by focusing on a specific set of services.

Role of Fintech Apps in the Growth of Fintech Startups

Developing feature-rich fintech apps, startups perform all the operations including insurance, finance management, asset management, payments, and more for the businesses as well as individuals.

The technology constantly improves payment processes and transaction security of mobile solutions. Along with payment, fintech apps take care of other financial factors such as insurance, equity, shares, stock, risk compliance, and more.

If you are catering any of the above financial services, then it is very essential for you to discover the fintech app ideas that fuel your startup.

Do you want to explore which fintech app ideas are in trend in 2020 and beyond? Here you go!

11 Best Fintech App Ideas for Fintech Startups

1. Crowdfunding Apps

When it comes to fintech startups, crowdfunding is one of the platforms amongst other fintech ideas. The concept is popular across the US and UK regions.

Crowdfunding apps help startups to raise money for your new or existing enterprise through collective efforts from a number of individual contributors and ventures.

2. Equity Apps

Equity financing becomes easy with fintech apps as it helps you to make money faster. Such apps are developed by companies that try hard to connect the investors with the people who need funding to build their business.

With the equity apps, the fundraising process can be done online without any paperwork. Thus, it becomes quite simplified for investors to invest in funds.

3. Investment and Trading Apps

Users can manage all assets and investments in one place using investment and trading apps. With a fintech app development for investment and trading, users can hold, sell, and buy stocks, forex, shares, funds, cryptocurrency, and more. They can check the asset valuation as well.

Build a secure, scalable, and fast investment and trading application that helps the users to stay informed and make the right decisions.

There are investment platforms that allow users to capture and aggregate investment data from different sources. Also, the apps provide a detailed and secure analysis of trading or investment data through business analytics and AI.

Key features of investment & trading fintech apps

  • Virtual stock exchange
  • Send stock alerts
  • Algorithmic trading
  • Stock market games for users to play

4. Personal Finance Apps

The personal finance apps allow users to manage their money, investments, expenditure, incomes, and other finances in a hassle-free way using a mobile or web platform.

The apps enable users with spending trends, data visualization, categorization of all financial activities. If required, the app asks for access to the user’s bank account and other data, and interact with the respective banking API.

Benefits of Personal Finance Apps

  • Get access to financial products or services anytime and anywhere
  • Reach out to a large audience and serve them by developing a responsive design
  • Enable the businesses to explore the new ways to distribute their wide range of products and services
  • Cross-platform fintech app development boosts your conversion rate and provides insights about customer preferences and requirements

5. Money Transfer Apps

Digital technologies such as blockchain, face and voice biometrics, NFC, etc. have changed the conventional ways of people sending the receiving the money. For the international money transfer, banks charge a good amount as a fee.

With the money transfer apps, it becomes easy to send and receive money from any corner of the world at cheaper rates and in the least time-consuming way.

6. Regtech Apps

These are basically regulatory apps that solve the regulatory problems and challenges of fintech startups using advanced technologies such as machine learning, cloud computing, and big data.

Using Regtech mobile applications, startups can improve the different operational areas mentioned below.

  • Identifying the client and legal personas
  • Monitoring of the various types of payment transactions
  • Trading in the financial market
  • Reducing risk in data collection, modeling, and predictions
  • Finding out new regulations

How digital technologies help fintech startups in risk compliance?

  • Blockchain, Biometrics, Cryptocurrency provide better security
  • Artificial Intelligence (AI), Machine Learning (ML) & Robotic Process Automation (RPA) prevent the fraud
  • Cloud applications to drive efficiency and better scalability
  • API integration ensures better interoperability

7. P2P Lending Apps

There are person-to-person fintech apps that allow individuals to land and receives loans to other individuals directly without using the services of any financial institutions. It’s a platform that connects both the lenders and borrowers.

In such apps, the loan rates could be either fixed or assigned based on the reverse auctions. The apps allow borrowers to assign the maximum rates at which they want to take a loan.

On the other end, landers bargain with each other to lend the fund at the lower rates. The objective of the creditors is to get more customers or borrowers.

Creating a finance app for P2P lending, businesses can bring their processes to the next level and increase the customer base. Through the fintech app development, P2P lending businesses are taking benefits of

Elimination of expensive intermediary

Zero investment in the integration of expensive intermediary. Customers need to pay any change of banking services, convince creditors, and visit branches to issue the loan.

Lenders & borrowers have the flexibility to define conditions

The apps allow creditors and borrowers to share the deadline, sum, and interest rate for the future bargain.

Users need to register with the fintech app by filling up a form. Registered users can get the loan, check the user’s solvency through the special ratings and approve the loan.

Leverage least Interest rates on the loans

Compared to banks and microfinance companies, the P2P lending business charges less interest rate. Moreover, P2P businesses do not need to set up an office and manage documentation as every operation can be performed using the fintech app only.

8. Insuretech Apps

These are insurance fintech apps that are powered by business intelligence, data science, IoT and mobility solutions. These apps gathered the data and analyze them to provide customers the personalized offers, pricing, and recommendations.

Offering real-time data to the insurers, the apps help them to manage risks effectively and increase the ROI.

With the fintech app development, insurance companies can improve their business process and customer experience.

Insurtech mobile apps are accessible to the customers at any point in time and at any place. It is not possible with the agents as humans cannot available 24/7*365 to serve the customers but apps can.

9. Mobile Banking Apps

Almost every bank has their own mobile apps to enable customers with a better experience by allowing users to perform all the banking operations just with a few clicks. The large share of the population that uses digital banking are Millennials.

Digital Banking in the United States from 2018 to 2022

“The above graph shows the share of the population using digital banking in the United States from 2018 to 2022, by generation. In 2018, almost 75 percent of Millennials in the U.S. used digital banking, which is set to rise to 77.6 percent by 2022.”


The new generation does not like and does not have time to stand in a queue of the banks. They want to have all the financial details on their fingertips. Thus, they love to use mobile banking apps.

Using the fintech apps, banks can gain more business. In the United States, almost every bank is using mobile apps.

If we talk about Asian and African regions, banks enable customers with the flexibility to perform different banking operations anytime and anywhere through fintech app development.

10. P2P Payment Apps

Peet-to-Peer payment apps are very useful when users need to send money to their friends or relatives or other individuals. These apps link the user’s account with the other user’s digital wallet.

When the user performs a transaction, the P2P apps send money directly to the recipient from the sender’s account and record the transaction.

“Peer-to-peer (P2P) payments are increasing significantly in the US, driven by tremendous growth from Venmo and Zelle. Our latest estimates show that P2P mobile transactions will total $309.95 billion this year, growing 27.9% to hit $396.48 billion in 2020.” –


Three different types of P2P apps are available in the fintech market for the users to send money to their dear ones.

Connected with banks

There are P2P mobile apps in which banks are allowed to conduct transactions. The apps facilitate users to transfer funds through partner credit unions and banks.

Connected with digital wallet services

Samsung Pay, Apple Pay, Android Pay, etc. are the popular platforms that allow for peer-to-peer money transfer in real-time.

Connected with standalone services

It refers the online payment companies like PayPal that work independently without getting linked with any financial organization. It contains a wallet like a feature where users can store money before sending it to another peer.

11. Payday Loan Apps

Payday apps connect fintech startups with borrowers in an interesting way. Startups can lend a certain amount to the users as a loan to deal with any financial emergencies such as paying medical bills, electricity bills, EMIs, other bills, and more.

Users need to add bank account details in the app so the fintech startups deposit the money into it. Users cab cash the money at any time as the apps keep a record of every transaction they made.

Important features of payday loan Apps

  • Assured security of the users’ bank details and data
  • Get a loan of a particular amount with just a few clicks
  • No hidden charges
  • Notification and alerts about upcoming payments

Bring Your Fintech App Development Idea to Life with Credencys

I think you have enough fintech app ideas to explore and invest in it. Go with the one or more that you feel more profitable for your startup.

Credencys will help you bring your dream into reality by offering end-to-end mobile app development services to build a robust fintech app for your startups. We have a team of 150+ season developers who hold extensive knowledge of iOS, Android and cross-platform technologies and have exposure to working with different types of businesses in the fintech domain.

Leverage our proven experience of fintech app development for the effective execute your idea and on-time launch of the app. We develop a perfect mobility solution for your business with the right set of features.

Frequently Asked Questions About Fintech App Development

Should a financial startup hire a mobile app development company or freelancers for fintech app development?

Choose a reliable mobile app development company over the freelancers for the robust and reliable fintech app for your business. Explore the top reasons for considering a mobile app development over freelancers.

What technologies are disrupting the fintech industry?

Cryptocurrency, AI, ML, data science, blockchain, etc. are the disruptive digital technologies that have been terraforming the conventional finance industry inside out by developing robust web and mobile applications.

What are the best programming languages to build a fintech app?

The selection of the right technology stack depends on the r project requirements. C, C#, Java, Python, Ruby, C++, are the technologies that are used to develop a simple to complex fintech app.

How can I validate my fintech app idea at the initial phase of app development?

To ensure the success of your fintech app idea, you can go for Minimum Viable Product (MVP), Proof Of Concept (POC) or working prototype. It helps to check the market potential of your product without developing a full-fledged app.

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