All You Need To Know About Finance App Development in 2023 – Features, Benefits

With the increasing technology within smartphones and mobile devices, these handheld computers…

Table of Contents

All You Need To Know About Finance App Development

With the increasing technology within smartphones and mobile devices, these handheld computers have become quite a useful tool across a range of industries. From restaurants to e-commerce sites, plenty of businesses and industries can benefit from mobile apps. One industry that’s taken advantage of is finance. From online banking to stock market reports, there are plenty of finance apps available and so many finance companies build their own finance app development. Nevertheless, there’s always room to improve in the area of Finance App Development—and Echoinnovate IT can help.

Depending on your business, creating a finance app for your clients and consumers is a great way to help them streamline processes and build upon your company’s reputation. In developing a finance app, however, there’s plenty to consider, including both benefits and necessary features to reap such benefits.

Mint – Bill Due App

Mint lets you know when your bills are due, what you owe, and what you can pay (based on your available funds). The application can also send you payment reminders or warn you if you are close to budget limits.

Depending on your habits, Mint even gives you specific advice to get more control over your expenses. The free credit score is also a good bonus.

finance app development

You Need A Budget – Budget App

You need a budget (YNAB) is unlike any other budget application you have used before. YNAB helps you stop living from paycheck to paycheck, pay debts, and “roll with the blows” if something unexpected comes up.

It is based on a fairly simple principle: each dollar has a “job” in its personal budget, either for investment, for debt payment, or to cover living expenses.

You Need A Budget

Wally – Personal Expenses Organising App

If you are the type of person who would love to be as organized with the tracking of your personal expenses as you are with the presentation of your professional expense reports, you will love the Wally app completely free.

Instead of manually recording your expenses at the end of the day (or week or month), Wally allows you to take a picture of your receipts. And if you use the geographical location on your device, even complete that information, saving you several steps.

Wally is a clean and optimized application that is extremely convenient and easy to use. It is a great option if you want to get more information about where your money is going.

Image Credits:

Acorns – Fund Planner App

Do you want to take advantage of automating good financial behavior? If that sounds complicated, the Acorns application is definitely not.

Basically, every time you make a purchase with a card, you connect to the application, Acorns rounds it to the next highest dollar, and automatically invests the difference in a portfolio of low-priced publicly traded funds (ETFs) that you select according to your risk preference.

Image Credits :

Coinbase – Currency Exchange App

Coinbase, a digital currency exchange platform, allows you to trade with most large companies (Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin) and plans to add more assets in the near future.

The application is a simplified version of the desktop version, and its simple interface makes it even easier to use.

Image Credits :

Why You Should Build Your Finance Business App?

There are more than five billion mobile device users in the world, with a global internet penetration of 57%. Thus, managing your finances has become easier than ever.

graph min 1
Image Credits :

There are more than five billion mobile devica

Finance apps experienced the largest increase in reach in key markets, with an average increase of 27.8%.

It may not be surprising to see data from applications that show that developing economies are at the forefront of growth in this area. Innovative financial apps are helping to attract people to the formal banking sector, where informal economies have traditionally prevailed, such as India.

Finance app development is a category of growth worldwide. India is leading the way in terms of growth, with around 225% more downloads in 2018 than in 2016.

The first wave of banking and financial technology apps obtained high marks for offering functions that allowed users little time to tackle important tasks. But the next wave of finance app development goes one step further by not doing it alone.

Driven by the understanding that there is a real force in numbers, smart financial technology companies join, partner, and join forces to offer apps that offer life solutions (not point solutions) aligned with lifestyles, stages of life, and the context of users in the magical “mobile moment” When they approach their fiercely personal devices to get really useful help.

e users in the world, with a global internet penetration of 57%. Thus, managing your finances has become easier than ever.

7 Reasons Why People Use Finance App?

There are more than five billion mobile device users in the world, with a global internet penetration of 57%. Thus, managing your finances has become easier than ever.

Why People Use Finance App
Image Credits :

Whether your business operates within personal finance or financial decisions, or any other regard, creating a finance app development with both necessary and innovative features can do wonders for your clientele and, in turn, your own business.

For example, a brokerage could create an app focused on the stock market, allowing users to access stock reports, manage their own portfolios, and read up on top news stories.

You could even incorporate a stock trading app where users can make and manage trades, all kept within their portfolio. In short, a finance app can be quite advantageous, so long as you include innovative features that also set your app apart from the rest.

Some of the unmissable benefits of Finance Apps are :

1. Minimal Resources

When it comes to business, resources play a crucial role in determining whether the company runs profitably or not. Money management applications help solve this problem since accounting software can be installed and incorporated into the financial system.

This leads to the requirement of fewer resources to maintain the software. Therefore, it becomes more profitable for companies that have to attract more staff to manage various areas of financial processes.

2. Financial Transparency

Money management applications are easy to use, which means they often contain an easy-to-use interface. In addition, the interface provides SMEs with quick access to their important information.

Real-time reporting companies are also compatible with a number of tools that help calculate things from filing a VAT declaration to forecasting the cash flow of asset management.

3. Increase In Productivity

Another important feature that makes all companies want to use a money management application is the advantage that it offers greater productivity. The help of personal finance applications makes daily routines faster and more efficient.

This, in turn, halves the workload that could be put into completing other necessary tasks.

4. Proper Planning

Having everything planned for the future in advance helps companies stay tuned for the prize. In turn, it helps build a stable base to create successful business strategies.

In addition, with plans made in advance, the business could allow executives to forecast, analyze the potential and evaluate scenarios to build tactics and plans according to the latest market trends.

5. Precise Invoices

Revenue and customs are particular sectors of a company that must be taken seriously. No matter how established the business is, mistakes can appear when completing the paperwork that leaves them in a desperate situation.

Lost collectibles always contribute to the pile of losses. Money management applications come to the rescue here, as they automate the data entry process and avoid all the inevitable mistakes that could be made when manually creating an invoice.

Key Features From Top Finance Apps

Though it often takes a new and innovative idea to launch a successful mobile app, you also need to consider key features demanded by consumers, or your clients. Considering this, there are a few common finance app features that always make sense to incorporate alongside any ideas you might have of your own. For help, take a look at the list below:


Though any smartphone has its own calculator, you can create calculators for specific formulas within financing, allowing users a quick way to calculate the future value, starting investments, etc.

Stock Market Report

This one is huge for traders. Having a stock market report alongside other helpful features is a necessity. Moreover, you can allow users to create their own reports, graphs, and charts to suit their preferences.


Needless to say, this allows users to keep track of trades and any other pertinent information they need to access regularly. Ensure they have the ability to customize their portfolio as well.

Industry News

Adding a news section to your finance app is key. This makes your app a one-stop place for a range of finance needs. Whether news displays upon opening the app or has its own section, it’s a great way to keep users coming to the app daily.

Build Your Finance App Today!

As facts and figures stated above the growth of finance Industry in the market is increasing. With every passing day, there’s a vital change.

If you’d like to go for finance app development or any other mobile app for that matter, Echoinnovate IT can help. Our expert team of developers and designers can help you throughout the entire process, from incorporating key features to creating an appealing design and layout.

If you’re ready to get started, or have any questions, contact us today.

    Get in touch