App Development

Trading apps are no longer a choice, they are a necessity. ProfitMatics Custom Fintech Development Company.
Blog, Technology, Trading

Trading Software Development in 2025: Trends, Technology & How to Build a Winning Stock Trading App

May 3, 2025

Stock Market is no longer the passion and interest of full time traders or businessmen. Now, it’s the hot trend among all, be it college students, working women, housewives, corporate workers, or the other professionals. What changed? Is it the series of stock market crashes like the Wall Street crash (1929), Black Monday (1987), the great recession (2008) that made the stock market famous enough to raise interest, or it’s the penetration of trading as a handy on the go mobile app activity, that made the art of buy and sell be feasible to one and all. Considering rising interests of the recent generations, I would like to think of digitalisation as one of the greatest factors affecting the spike in trading and opening of Demat Accounts. Highest-ever 192.4 mn demat accounts opened in FY25, brokerages add 41.1 mn. Now you could be handling portfolios, trading stocks in all indexes, checking live news updates and taking up licensed advisory, all using a mobile phone. Real time updates have made sure the traders match the speed of the stocks! If you have been long standing in this business, you have been witness to the makeover of stock market trading, from papers and telephones to mobile phones and real time updates. Now, let’s start with the trends around trading software development, as well as phase wise development of one! AI & Predictive Analytics in Stock Trading App Artificial Intelligence is revolutionizing how users interact with trading platforms. By processing massive volumes of market data in real time, AI models can identify trends, forecast price movements, and evaluate risk exposure with far more accuracy than traditional tools. Real-World Use Cases: AI gives users faster, data-driven decisions—turning raw market data into actionable insights. To understand the impact of Custom Trading Software on your business, read this blog here. Auto-Trading & Algorithmic Bots In 2023, 60–70% of equity trades in the U.S. were executed using algorithms (source: Nasdaq). Algorithmic and auto-trading is no longer limited to institutions—modern trading software empowers retail users with automated strategies. Key Capabilities: Automation reduces emotional bias and lets traders act 24/7 without human intervention. Can’t wait to share your idea around trading app like no other? API-First Architecture Modern trading apps are built around APIs—they enable rapid data flow, external integrations, and feature scalability. Whether you’re placing trades, validating KYC, or pulling price charts, APIs are the backbone. Essential APIs for Trading Platforms: Type Examples Use Case Market Data APIs Alpha Vantage, Polygon, Kite Connect Fetch real-time price & volume data Trading Order APIs Alpaca, Interactive Brokers Execute buy/sell orders programmatically KYC/AML Verification APIs Signzy, Digio Ensure compliance during user onboarding News & Sentiment APIs FinSentS, Google Finance RSS Enrich dashboards with live market insights APIs make your app modular, flexible, and faster to update as markets evolve. From Idea to Execution: How to Develop a Trading App (Step-by-Step) Phase 1: Planning & Product Design Phase 2: UI/UX & Wireframing Check out our dedicated blog on best Ui/Ux practices for Fintech app development. Phase 3: Core Development (Frontend + Backend) Component Tech/Tools Frontend Flutter, React Native, Swift (iOS), Kotlin (Android) Backend Node.js, Python, Java Database PostgreSQL, MongoDB Cloud AWS, Azure APIs Kite Connect, Alpaca, IEX Cloud, Firebase, Paytm KYC Phase 4: Compliance & Security Phase 5: Testing, Launch & Iteration If you have any requirements or ideas around building your own trading software, don’t look any further. We take pride in having 6+ years of experience in building scalable and secure Fintech apps and softwares.

Micro Investment App with profitmatics
Blog, Investments, Technology

How to Build a Micro Investment App in India: A Guide for Entrepreneurs

March 29, 2025

Micro-investing allows individuals to invest small amounts of money regularly, making wealth creation accessible to everyone, regardless of income level. Unlike traditional investing, which often requires significant capital, micro-investing platforms enable users to start with as little as ₹10-₹50, investing in stocks, mutual funds, or ETFs. With India’s rising fintech adoption and regulatory support, launching a micro-investment app presents a lucrative opportunity for entrepreneurs. This guide will help you navigate the key aspects, from business models to compliance and technology. Why Micro Investing is Gaining Popularity in India 1. Financial Inclusion Micro-investing apps enable individuals with limited capital to invest in stocks, mutual funds, and other assets. It bridges the gap for young and first-time investors, making wealth creation accessible. 2. Rising Mobile and Internet Penetration India has over 750 million smartphone users , and 81% of Gen Z and 72% of Millennials prefer managing their finances through mobile apps. The adoption of digital payments and UPI has further accelerated fintech growth, making micro-investing a natural extension. 3. Gen Z’s Interest in Investing A report by BCG states that nearly 50% of Gen Z in India actively invest or are interested in investing. Unlike previous generations, they favor automated, low-cost, and goal-based investing platforms. 4. Regulatory Push for Digital Investments SEBI and RBI are actively promoting digital finance and financial literacy. Government-backed initiatives like UPI, Account Aggregator (AA), and Open Credit Enablement Network (OCEN) further enhance fintech innovations (SEBI, 2023). 5. Rise of Embedded Finance Many neobanks and fintech companies are integrating investment options within their platforms to enhance user engagement, allowing seamless micro-investing alongside digital banking (PwC, 2023). Key Features of a Successful Micro Investment App To stand out in the Indian market, your micro-investing app should offer: 1. Automated Investment & Round-Ups 2. Fractional Investing 3. Goal-Based Investing 4. User-Friendly Interface & Gamification 5. Robo-Advisory & AI-Powered Insights 6. Regulatory Compliance & Security 7. Embedded Finance & Banking Integrations 8. Community & Educational Content Use Case: How Micro-Investing Can Help Rural India Financial literacy and access to investment opportunities remain a challenge in rural India. With 65% of India’s population living in rural areas , micro-investing can revolutionize wealth-building for small farmers, gig workers, and blue-collar workers. Challenges in Rural Finance: How Micro-Investing Can Solve These Challenges: Tech Stack & Development Process At ProfitMatics, we specialize in building scalable and secure micro-investment apps tailored for Indian entrepreneurs. Our development process includes: 1. Discovery & Compliance Planning 2. UI/UX Design & Prototype 3. Backend & API Integration 4. Testing & Security Implementation 5. Deployment & Maintenance How ProfitMatics Can Help You As a custom fintech development company, with expertise in investment app development, we offer end-to-end solutions for micro-investment apps, including: Let’s turn your fintech vision into reality!

Loan DSA problems and roadmap towards Digitalisation with Fintech
Blog, Lending Industry, Technology

Loan DSAs in 2025: Embracing AI, Automation & Fintech for Success

March 22, 2025

What is a DSA? A Direct Selling Agent (Loan DSA) is a key player in the banking and financial services industry in India. Acting as a representative of banks or financial institutions, DSAs assist in sourcing and processing loan applications for customers. Loan advisory, or loan consultation, is a business model where experts help clients choose the right loan based on factors like amount, tenure, past loans, financial conditions, and purpose. This simplifies the borrowing process by offering tailored options. A few decades ago, this entire process was manual. As a Loan Consultant or DSA, you would set up an office where clients seeking loan advice would visit, discuss options, and get assistance with loan applications and disbursements. Today, the industry is going digital. Having a strong digital presence is no longer optional—it’s a necessity. But a website or online visibility alone isn’t enough. To scale in the digital lending transformation space, you need a deeper, AI-powered loan management approach.Before diving into loan DSA digitalization, let’s first examine the key challenges traditional DSAs face in 2025. Challenges Facing Traditional Loan DSAs in 2025 1. Slow Loan Processing & Approvals 2. Limited Customer Reach & Market Scalability Here are Top 10 Loan Agents of India, with great digital presence and market share. Read this informative article by My Mudra to learn more about your competitors. 3. High Operational Costs 4. Compliance & Regulatory Challenges 5. Lack of Personalized Advisory & Customer Education 6. Inefficient Lead Generation & Conversion 7. Poor Customer Experience & Engagement 8. Competition from Digital Lenders & Marketplaces 9. Delayed Payouts & Commission Settlements 10. Client Retention & Follow-up Challenges Even with deep industry knowledge and strong communication skills, DSAs are struggling to compete against digital disruptors. Even loyal clients now prefer instant loan consultations via a few clicks. If you are already into Digitalising your business as a Loan Consultancy Firm, read this article right here. How DSAs Can Stay Competitive While we can’t help with the first three points, we can help you with Digital Advancements, and help you scale with custom fintech development expertise we have, being in the industry for 6+ years. Key Market Trends Shaping the Loan Industry 1. Growing Loan Demand 2. Digital Lending Platforms on the Rise 3. AI & Automation in Loan Processing 4. Sustainability & Green Lending Digital Transformation Roadmap for Loan DSAs  To thrive in 2025, DSAs must shift from traditional models to tech-driven advisory services. Here’s a step-by-step guide: Phase 1: Building the Foundation Step 1: Develop a Loan Advisory App/Website with loan origination system (LOS) for DSAs, loan comparisons, eligibility calculators, and real-time tracking.  Step 2: Automate Lead Capture & Management using AI-powered chatbots, CRM systems, and WhatsApp automation.  Step 3: Enable digital KYC & instant document verification with OCR scanning and Aadhaar-based verification. Phase 2: Enhancing Automation & Personalization Step 4: Implement AI-based loan recommendations based on credit scores and affordability.  Step 5: Launch an AI multilingual voice agent for automated client interactions.  Step 6: Introduce an AI-based loan eligibility checker for instant pre-approvals. Phase 3: Scaling & Monetization Step 7: Build a digital marketplace for loan comparisons with real-time rates and customer reviews.  Step 8: Launch AI-based loan portfolio management for tracking active loans and refinancing opportunities.  Step 9: Implement gamification & referral programs to boost engagement and client loyalty. Phase 4: Long-Term Growth & Expansion Step 10: Offer AI-powered financial advisory based on spending behavior.  Step 11: Introduce embedded finance & BNPL services through fintech partnerships.  Step 12: Develop API integrations for neo-banks & fintech collaborations. Why Does Digital Transformation Matters? ✅ Boosts Revenue – More leads, better conversions.  ✅ Saves Time – AI reduces paperwork and manual follow-ups.  ✅ Builds Trust – Transparency and AI-driven recommendations improve credibility.  ✅ Expands Market Reach – Serve clients nationwide with a digital-first approach. Transform Your Loan Business with ProfitMatics  We specialize in:

Insurtech Industry Blog- Custom Fintech App Development Company ProfitMatics
Blog, Insurance, Technology

How Insurance Brokers Can Boost Conversions with Custom Fintech Solutions

March 17, 2025

Being an insurance broker or aggregator goes beyond selling policies—it’s about understanding your clients’ needs, financial situation, and risk factors to provide tailored recommendations. However, with evolving customer behavior and rising competition, traditional methods are no longer enough. The digital landscape is saturated, and simply reaching potential customers isn’t the challenge—cutting through the noise and offering a seamless experience is. Let’s first clarify a common misconception. Broker vs. Aggregator – What’s the Difference? Many assume insurance brokers and aggregators are the same, but they serve distinct roles: Industry Snapshot: 🔹 According to IRDAI, there are around 737 insurance brokers but just 34 web aggregators in India.🔹 India is projected to become the 6th largest insurance market within a decade, surpassing Germany, Canada, Italy, and South Korea.🔹 With 700+ million active internet users (425 million from rural India), digital channels are shaping the future of insurance distribution. (Source: PWC Report) The Real Challenge – How Do You Stand Out? The growing awareness of insurance has also led to higher friction in reaching potential clients. With competitors fighting for attention, how do you ensure your brand cuts through the digital clutter? The answer lies in choosing the right technology. Should you opt for an off-the-shelf SaaS solution or invest in custom software/web app development? Why Custom Software is the Smarter Choice for Insurance Brokers & Aggregators While SaaS platforms provide quick setup, they come with limitations that hinder long-term growth. Custom-built insurance software, on the other hand, gives you full control, flexibility, and cost advantages over time. No Per-User or Per-Policy Fees Most SaaS solutions charge per user, policy, or transaction, meaning costs skyrocket as your business grows. A custom solution eliminates these hidden charges, providing predictable pricing and long-term savings. Tailored Workflows & Features Every insurance business is unique. A custom-built platform allows you to:✅ Implement specialized lead management, CRM, underwriting, and insurer integrations.✅ Customize dashboards to match your business processes, instead of adapting to SaaS limitations. Unrestricted API Integrations SaaS providers limit integrations to their pre-approved partners, restricting business flexibility. Custom solutions allow seamless integration with any: If you are already building your Insurtech, check out this article on ‘Trends in Insurance Industry‘. No Vendor Lock-in SaaS solutions lock you into their ecosystem. If they:Raise prices,Discontinue featuresOrShut down services… your entire business is at risk. A custom insurance platform ensures complete ownership and future-proofing. Better Compliance & Security With strict regulations in the insurance industry (IRDAI, GDPR, Data Privacy laws), your platform must ensure compliance. A custom-built solution: Cost-Effective Scalability SaaS platforms become more expensive as usage grows. A custom-built platform scales freely without pricing surprises. Strong Branding & Competitive Edge A custom solution allows for a branded, personalized experience for your clients and agents. Unlike SaaS, which forces every business to use the same interface, custom development: Must-Have Features for Scaling Your Insurance Business Once you’ve decided on a custom-built insurance solution, the next step is to integrate smart features that drive scalability and efficiency. AI-Powered Service Showcase & Smart Recommendations Why It’s a Game Changer: Clients often struggle to find the right insurance plan. AI-driven recommendations improve conversions. Dedicated Sections for Each Insurance Type Why It Matters: A cluttered interface confuses users. Organized sections improve navigation. AI Voice Agent for Customer Support Why It’s a Must-Have: Customers expect instant responses. Workflow Automation & Real-Time Team Updates Why It’s Critical: Scaling requires efficient task management. Custom CRM Built for Insurance Brokers Why Generic CRMs Don’t Work: Standard CRMs lack industry-specific workflows. AI-Driven Agent Lead Management (BRE System) Why It’s Crucial: The right agent-client match maximizes conversions. The Future of Insurance is Digital – Are You Ready? By integrating these AI-powered, automation-driven features into a custom-built insurance platform, brokers and aggregators can: Let’s Build Your Custom Insurance Platform! Looking for a custom insurance software development company to bring these innovations to life? At ProfitMatics, we specialize in:Custom insurance software & web developmentAI-driven insurance tech solutionsInsurTech platform developmentMobile insurance app development Get a free consultation today! Let’s create a scalable, future-proof insurance platform for your business. Contact ProfitMatics now!

CBC FIntech App Development Company
CBC, Blog, Technology

Empowering Rural Banking: Our Expertise in Custom Fintech Development for CBCs

March 15, 2025

In today’s rapidly evolving financial landscape, rural banking is undergoing a transformative shift. Corporate Bank Correspondents (CBCs) play a pivotal role in this change by bridging the gap between traditional financial institutions and the unbanked population. As rural fintech gains momentum, the demand for customized, robust, and secure digital solutions has never been higher. In this blog post, we showcase our expertise in custom fintech development tailored specifically for CBCs, enabling them to lead the charge in financial inclusion. The Rise of CBCs in Rural Banking Rural areas have long been underserved by conventional banking systems. With over 63% of India’s population residing in rural regions, these communities have historically relied on non-institutional credit channels. However, recent government initiatives and technological advancements have paved the way for CBCs to transform rural banking. According to recent data, over 200 million rural Indians now access formal banking services through CBC networks. This rapid growth is not just a testament to the effectiveness of CBCs, but also an indicator of the immense potential for digital transformation in these regions. Check out this LinkedIn post to know more about the Indian CBC Ecosystem. Challenges in the Rural Banking Ecosystem Despite the impressive strides made, CBCs face several challenges in delivering quality banking services: These challenges underline the need for a custom fintech solution that is designed with the rural context in mind. The Role of Custom Fintech Solutions Custom fintech solutions empower CBCs by offering the flexibility to adapt to unique local needs and market dynamics. Unlike off-the-shelf products, a tailored solution can be designed to integrate seamlessly with existing banking systems while offering advanced functionalities such as: Check out our custom fintech applications right here! Our Approach to Custom Fintech Development At ProfitMatics, we specialize in building custom fintech solutions that address the specific needs of CBCs. Our approach centers on delivering robust, scalable, and secure applications that drive financial inclusion in rural areas. Here’s how we do it: 1. Modular Architecture We design our fintech platforms with a modular architecture, which allows for flexibility and easy integration of various components. Our core modules include: 2. Advanced Technology Stack Utilizing modern technologies such as React Native for a cross-platform mobile experience and Node.js or Spring Boot for a resilient backend, our solutions are built to scale. Our integrations with major payment gateways and APIs ensure seamless interoperability with banking systems. 3. Security and Compliance We prioritize security from the ground up by: 4. User-Centric Design Understanding that digital literacy levels vary, we focus on creating intuitive interfaces. Our user-centric design principles ensure that: Success Stories and Market Impact Several successful fintech ventures, such as Spice Money, EzeePay, and Jana Small Finance Bank, illustrate the power of customized digital solutions. These innovators have leveraged robust digital infrastructures to empower their networks and reach millions of rural customers. Our solutions draw on similar principles, combining technology and deep market insights to deliver value and drive growth. By enabling CBCs to manage everything from account openings and loan processing to mobile recharges and insurance services, our custom fintech solutions are not just tools—they are catalysts for change, transforming how rural communities access and interact with formal banking services. Conclusion: Transform Your Rural Banking Strategy As rural fintech continues to pick up pace, CBCs stand at the forefront of this digital revolution. With our custom fintech development expertise, you can build a platform that not only meets the regulatory and operational challenges of rural banking but also delivers a superior user experience tailored to your specific market. Partner with us today to revolutionize your CBC strategy, empower rural financial inclusion, and create lasting impact. Let’s discuss how our innovative solutions can help you unlock the full potential of rural banking. Connect with us now to start your journey towards a more inclusive financial future!

Algo trading software | Custom Fintech Software development Company
Blog, Technology, Trading

How Brokers Can Leverage Custom Algo Trading Software for Business Growth

March 13, 2025

Introduction The rise of algo trading software is reshaping the financial industry, offering brokers advanced trading solutions that can increase efficiency, improve client retention, and scale their business. Rather than viewing automation as competition, brokers can integrate algo trading technology into their platforms to offer cutting-edge services and gain a competitive edge. In this blog, we’ll explore how brokers can leverage algo trading software for growth, covering trading & algo-trading software, automated trading solutions, and custom algorithmic trading platforms in 2025. We’ll also discuss why custom trading software development services offer better flexibility, security, and performance than white-label solutions, especially in the Indian stock market. 🚀 Want to discuss your fintech idea? ProfitMatics specializes in custom fintech app and software development. Let’s build the perfect solution for your brokerage! The Disruption: Algo Trading vs. Traditional Brokerage Services How Algo Trading Software Is Reshaping Brokerage Models Traditional brokerage services rely on manual execution, discretionary trading, and human analysis. However, algo trading software is transforming the landscape by providing real-time, data-driven trading strategies that execute with precision and speed. The ability to conduct backtesting, high-frequency trading (HFT), and API-driven automated execution makes algorithmic trading software a game-changer for both brokers and traders. Brokers who fail to adapt risk losing clients to tech-driven competitors. However, those who embrace algo trading solutions can enhance their offerings, improving execution quality and client engagement. The Growing Adoption of Algo Trading in India According to SEBI statistics (as of May 30, 2023), there are a total of 5,316 registered stock brokers in India. Additionally, the use of algorithmic trading software has increased significantly, with nearly 50% of trades on Indian stock exchanges now being executed through algo trading. As Indian traders continue to seek high-frequency trading software development, brokers must ensure they have the right infrastructure to cater to this demand. Check out this informative blog on current trends in the Stock Market Related Businesses, for Brokers, RIAs, or Traders who want something of their own! How Brokers Can Integrate Algo Trading Software 1. Build Custom Algo Trading Software Instead of White-Label Solutions While white-label trading software offers quick deployment, it comes with limitations in customization, security, and scalability. Brokers investing in custom trading software development services gain control over their platform’s features, user experience, and integrations. A custom algorithmic trading platform provides: Thinking about a custom algo trading platform? ProfitMatics can build a tailored solution for your brokerage. Let’s discuss your fintech idea today! 2. Offer High-Frequency Trading (HFT) Capabilities Brokers serving active traders can benefit by integrating high-frequency trading software development to enable ultra-fast trade execution, predictive analytics, and low-latency trading strategies. The demand for automated trading software development is growing, making it essential for brokers to offer real-time execution speeds and optimized trading algorithms. New to Custom Development? Understand the process of Custom Development from the dedicated journey document of RoboSmart, an Algo Trading Software built by our team. Access the PDF here. 3. Develop a Custom Stock Trading App As demand for stock market trading app development rises, brokers can differentiate themselves by investing in custom stock trading apps with features such as: With increasing mobile trading, Android stock market app development is essential for brokers to cater to retail investors and traders. Check Out Our Custom Trading App’s features and Case Study here. 4. Expand into Intraday Trading Solutions There is a growing market for app development for stock market for intraday trading in India. Brokers can capture this segment by providing trading app development solutions tailored for scalping, swing trading, and day trading. By offering custom algo trading solutions for intraday traders, brokers can provide faster execution and better analytics. For trends in Algo Trading and SEBI’s view on the uprising change, check out this article by Economic Times. The Future: AI-Powered Trading Bots & Machine Learning AI and Machine Learning in Algo Trading: What Brokers Need to Know The future of automated trading software development lies in AI and machine learning algorithms. Brokers who integrate AI-based trading bots into their platforms can provide: Brokers who adopt AI-driven algo trading software will stay ahead in the race for next-gen automated trading solutions. Trading App Development: Costs & Considerations Understanding Trading App Development Cost Investing in trading app development involves several cost factors, including: Choosing the right trading software development company in India is crucial to ensure compliance with SEBI guidelines and optimize trading app development costs. Connect with us to get a quote! Conclusion: The Path Forward for Brokers Algo trading software isn’t just an innovation—it’s the future of brokerage services. By integrating automated trading software development, high-frequency trading platforms, and AI-powered solutions, brokers can: However, brokers must recognize the advantages of custom trading software development services over pre-built solutions to maintain a competitive edge in a rapidly evolving market. Ready to build a custom trading platform? ProfitMatics specializes in fintech software development for brokers. Contact us to get started today!

How Custom Fintech App Development helps startup growth
Blog, Business, Technology

Scaling Beyond Limits: How Custom Apps Drive Startup Growth

March 6, 2025

We have been riding with technology for a few decades now. If you ask any age-old established industrial company about their take on the usage of tech for scaling, they now feel the need for something different—not quite satisfied with the usage of third-party software for internal management as well as customer-facing operations. Why? Because they now know how their customer thinks, how they choose the way they want to be serviced. What changed from the last decade to this one? Is it the way customers have begun putting their demands and choice of being catered to, or the way companies have started handling the “customer satisfaction” metric with the highest priority? Whatever the reason may be, the result stays the same. You cannot be relying on ready-made stuff if your vision is to scale and become something that stands out. Now, this stands true for almost all aspects of our lives, but for the sake of being a dedicated blog, let’s keep the focus on custom app development as the road to scaling. In this blog, we will explore the ‘scaling’ necessaries, focusing on the role of IT and technology to speed up the process. Why Scaling Demands Customization Let’s start with some stats first. In 2024, global mobile app downloads reached approximately 218 billion, reflecting a 7% increase from the previous year. This of course includes both white-labeled apps and custom apps being used by the whole world, including your business audience. Now, you know your potential customers need something they can have at their fingertips—something accessible through a mobile screen, AKA apps or web apps. Let’s get to your POV as a startup or company just starting their digital journey. You have noticed how your ‘potential customers’ want to have services right at their fingertips, with speed and security. You have built your ICP for marketing efforts and are searching for the right channel to deploy it. Your computer screen screams “USE APPS TO GAIN AND RETAIN CUSTOMERS,” but the next line varies in each article. Some say “white-labeled apps for quick deployment, at a low cost,” while others glorify “custom apps to give a customized feel.” I get it. This feels like a hard decision, but again, a decision you have to take if you are to scale your business. White-Labeled vs. Custom app development : Making the Right Choice When a company reaches the point of scaling, they already have a few wins on the field. They know their customers, understand how to manage revenue and expenses, and have had a few falls to know the next pit. This is necessary to begin with since this will help you decide the way you scale. Quick Comparison Factor White-Labeled Apps Custom Apps Cost Lower upfront cost Higher investment Branding Limited customization Fully customizable Scalability Fixed features Scales with business needs Uniqueness Shared with others Exclusive to your business Ask yourself these key questions: For some future reference, read this supper informative blog on the use of the right tech for your custom app.  Once you answer these, you will know what suits your business the most. But with the change in behavioral patterns of users, I can be sure of the increasing need for personalisation and customisation—in services, products, and soon enough, in the way they are being catered to. The rise of AI has led to a change in behavioral patterns, with 80% of consumers preferring brands that customize content, keeping the customer journey in mind. Also, 70% of companies in 2024 feel that AI-powered personalization can be the most impactful form of personalised marketing that will affect the market and clients. Custom Apps & ROI: The Numbers Speak Now you understand the buzz around custom apps and web apps. People yearn for customized care—it doesn’t matter what service you provide. Custom mobile apps give the brand a touch of difference. You can now build your own customer journey, visualize the way your target audience wants to be serviced, and build exactly that—bringing in the cheer, the uniqueness you keep pushing in your ad copies, directly at the fingertips of your users. Check out our blog on Fintech App Optimisation Techniques. ROI Scenarios in Fintech If you are in the Insurance industry, read this informative blog right here for how to make sure you are digitally present, in the best way possible.  A key trend in custom app development is the integration of AI and ML, enabling smarter software with predictive analytics and personalized user experiences. As AI adoption grows, most applications are expected to incorporate AI-driven features, enhancing decision-making, customer support, and operational efficiency. For a business that wants to scale, partnering with a custom application development company can yield 200-500% ROI within 2-3 years, provided it aligns with business goals and revenue models. The real value lies in long-term scalability, automation, and higher customer retention. Get Started with Custom App Development You may find a custom mobile app development or Fintech Company suitable for your business by reviewing a few who hold expertise in your domain. We at ProfitMatics , custom software development company, build custom fintech applications for various domains, including trading, wealth management, payments, e-commerce, loan advisory, regtech, and more. We understand your vision and build something only you can have. Success Stories: Custom Apps That Led to Massive Growth These examples showcase how fintech companies leverage custom applications to address specific market needs, streamline operations, and scale successfully. Ready to Scale? Let’s Talk Book a free meeting to explore how a custom app can scale your business. Our experts will assess your growth potential and provide actionable recommendations tailored to your expansion needs.

How to build MVP for Pre Seed Funding - A step by step guide for building MVP for Pre Seed Funding
Guides, Software, Technology

How to build MVP for Pre Seed Funding 

October 4, 2024

MVP or Minimum viable product can be any product with just enough features to be usable by early customers who can then provide feedback for future product development. While MVP can be across all industries and domains, in this blog we will focus on MVPs for Apps and how to build one for Pre Seed Funding. Don’t worry if you aren’t aware of these terms, this blog will make sure you take away a lot more than you came with! What exactly is MVP Application in the IT industry? A Minimum Viable Product (MVP) app is a basic version of a software application that includes only the core features and is used to test the viability of an idea. This is like the baby version of your dream app, with some of the important features, ready to be tested for the real world.  Why should you invest in a Minimum Viable Product? It validates your product idea MVPs help validate if there’s a market for the app and if people want it.  It helps gathering the most important proof- User Feedback MVPs help developers learn from early adopters and get insights on how to improve the app.  Gives you a reality check MVPs help entrepreneurs avoid wasting time and money on features that no one wants.  Lays foundation for full-scale development MVPs can be the foundation for developing a more polished and feature-rich app.  Check out our Fintech Apps with great Ui Ux and features to understand more about Market Demand around Fintech. What is MVP in Agile Development? Agile development is a method of development where we focus on delivering a product in small, functional increments. This works really well when it comes to software development which helps to focus on collaboration, iteration and adaptability. Here MVP is an early version of a product that has the minimum features needed to test the product’s concept and gather user feedback. A reminder There have been long debates on whether MVPs are necessary and prerequisite for Pre Seed Funding. The answer is no. Does having a MVP help your pitch for pre-seed funding? Yes, when the MVP is done well and enhances the overall pitch. But it’s not essential, and a large (and growing) number of startups are able to use the pre-seed funding they attract to build the MVP. It totally depends on your startup’s needs and funding situation. How to build an MVP App and raise Funding in 2024 Here comes the important part of the blog. Suppose you have a great idea for your Fintech App, and have researched the market need of your imagined product, which is going to rise in numbers as you grow. But while seeking Pre Seed funding, you come to know that since your idea is already for an app, having an MVP can lead to building a better pitch and build trust to your investors. You can refer to our blog Flutter or React Native for Fintech App Development to understand and choose better for your Fintech App Development. Talking numbers first, on an average, building MVP for Fintech App Idea may range between $50,000- $100,000 depending on various factors like the core idea, features, legalities and other important factors. Here’s a quick breakdown of the cost of building an MVP for your Startup’s pre seed funding. Features: Payment processing, user accounts, data security. Estimated Budget: $50,000 – $100,000 Development: $30,000 – $70,000 Design: $10,000 Compliance/Legal: $5,000 – $15,000 Testing: $5,000 We can help you build an MVP for your Fintech startup at a competitive market price and limited time. Our team of experienced developers and Ux/Ui designers are always up for innovative and exciting projects. We would be happy to become a part of your Fintech Dream! Book a meeting now and let’s figure out your way to funding with a perfect to pitch MVP. Things to keep in mind while building an MVP 1. Market Research 2. Target Market Analysis and building User Persona 3. Key features- How is your app different from the sea of apps already present 4. Finally, build MVP by partnering with experienced and expert app developers who understand the nuances of Fintech.  If you are starting your “Finding Investors” quest, we have got an exclusive list of Micro VCs and Pre Seed Investors, with their Emails, LinkedIn Profiles and Contact Info, just for you! Download the FREE SpreadSheet Now from the link below!

Flutter or React for your Fintech App
Technology, Blog, Software

Flutter or React Native- Which is better for Fintech App Development

September 24, 2024

Bringing out the best requires choosing the best from the sea of options available. Choosing a development partner with proven expertise is crucial for ensuring your business outcomes align with your strategic goals. We are here to make it easy for you and your developers.  Read this blog to understand the differences between Flutter and React Native and what would be best for you Fintech.  What exactly is Flutter and React Native? You can skip this part if you are already a seasoned developer, but if you are someone beginning your Fintech Journey, this portion of the blog will make these big terms easy for you to understand.  Flutter- The partner for your Fintech App  Flutter is an open-source UI software development kit created by Google. It is often used for frontend development, though backend development is also possible. It can be used to develop cross platform applications from a single codebase for the Web, Fuchsia, Android, iOS, Linux, macOS, and Windows.  You can check out our blog on Best Ui/Ux practices for Fintech Apps for more context: Flutter ships applications with its own rendering engine which directly outputs pixel data to the screen. This is in contrast to many other UI frameworks that rely on the target platform to provide a rendering engine, such as native Android apps which rely on the device-level Android SDK or React Native which dynamically uses the target platform’s built-in UI stack. Flutter’s control of its rendering pipeline simplifies multi-platform support as identical UI code can be used for all target platforms. Here’s a quick overview of how Flutter is great to use: Benefits of Flutter  Also, Flutter 3.24 has been released and here’s a snippet of major changes: Significant GPU Rendering Improvements One of the major highlights of Flutter 3.24 is the enhancement in GPU (Graphics Processing Unit) rendering, which is critical for applications that require smooth animations and visually intensive graphics. Multi-View Embedding: A New Dimension of Flexibility The introduction of multi-view embedding in Flutter 3.24 is a game-changer for developers working on complex applications. It allows for the embedding of multiple Flutter instances within a single app, each managing different views or sections.  Dart 3.5 Integration: Elevating Development Efficiency The release of Dart 3.5 has introduced a suite of new features and optimizations that improve both the development experience and the performance of Flutter apps. Dart 3.5 has brought enhanced type inference, making it easier to write concise, maintainable code. Advanced DevTools for Enhanced Development Experience A slice of happiness for the Developers- this latest version comes with advanced DevTools that offer you more powerful debugging and profiling tools. It’s an enhanced experience in itself. There is more to add, but let’s stick to our main learning for this blog.  Now, Let’s move forward to React Native: Is this the same as React? NO. But its functionality is the same as React, right? WRONG. React Native was first released by Facebook as an open-source project in 2015. It is considered one of the top solutions used for mobile development. It is a free, open-source JavaScript framework for building apps.  What makes React Native stand out is usability for both Android and iOS mobile apps. Also, since React Native was built based on React – a JavaScript library, which was already hugely popular when the mobile framework was released, it comes with an easy learning curve since developers are already accustomed to using React. Instagram, Pinterest and Skype are built on React Native.  Here are some more benefits of using React Native: Which would be better for Fintech Applications? For Fintech app development, the decision of using Flutter or React Native often hinges on factors like performance, development speed, community support, and specific project requirements. Let’s discuss each of them here: Here’s an insight: Majority of Fintech Startups prefer using Flutter, for its obvious use cases and advantages. You can still choose between the two, but make sure your App’s features are not compromised by any of them. Performance: Flutter’s compiled native code often delivers superior performance compared to JavaScript-based frameworks like React Native. This is crucial for financial apps where speed and responsiveness are paramount. So for better performance delivery, Flutter is the better choice Cross-platform development: Flutter allows you to build apps for both iOS and Android from a single codebase, saving time and effort.   UI/UX: Flutter’s rich widget library and declarative programming style make it easier to create visually appealing and consistent user interfaces.   Hot reload: This feature of Flutter enables developers to see changes instantly, accelerating the development process.   Community and ecosystem: While the Flutter community is growing rapidly, it may not be as mature as React Native’s, especially in terms of third-party libraries and tools specifically tailored for Fintech. Learning curve: If your team is primarily familiar with JavaScript, React Native might have a shallower learning curve. Flutter uses the programming language Dart , which isn’t that hard to adapt to. Large community: React Native boasts a vast and active community, offering a wealth of resources, libraries, and support. But with Flutter’s success strides and new versions being released, we think this might become a debatable topic in a few years. Third-party ecosystem: React Native benefits from a mature ecosystem of libraries and tools, including many specifically designed for Fintech applications.   Bridging: React Native relies on a JavaScript bridge to communicate with native components, which can introduce potential performance overhead.   So, we have summed up the differences between Flutter and React Native, the use cases for each, the pros and cons depending on different scenarios, and what factors you need to keep in mind while choosing for your Fintech App. Let’s go a step further and see which one is better for different domains of Fintech: Yes, we got it simplified for you!  How can we be sure of this? We are experts in building Fintech Apps. Having built apps across all domains, we have the experience and expertise for choosing the right technology for each of them. You can

Regulatory Compliances for Developing Fintech App in India
Guides, Business, Technology

Regulatory Compliance Checklist for Fintech Apps

September 19, 2024

India’s trajectory of growth in the fintech market is nothing short of impressive. With a CAGR of over 20%, the sector is on a rapid ascent, propelled by high adoption rates and innovative service offerings.  In fact, India boasts as the second-largest and fastest-growing fintech ecosystem around the globe, with an adoption rate of 87%, reflecting the nation’s enthusiastic embrace of financial technology. In the ever-evolving world of fintech, regulatory compliance is crucial for maintaining credibility, trust, and a seamless operation.  Many startups and entrepreneurs in the Fintech space often find themselves navigating through various sources to understand the legalities and regulations required to stay compliant with the country’s laws. This blog serves as a comprehensive guide to help your Fintech app align with the Indian legal framework and regulatory standards. Let’s start with the most Important Regulatory Body of India, RBI.  RBI Guidelines Fintech companies in India are governed by the Reserve Bank of India (RBI).  Ensure your Fintech App complies with: Payment and Settlement Systems Act, 2007 Required for any payment services, including mobile wallets or UPI-based apps. NBFC Licensing Requirements If your fintech app deals with lending or digital credit, make sure you’re following the Non-Banking Financial Company (NBFC) rules. Prepaid Payment Instruments (PPI) Comply with guidelines if your app offers prepaid payment instruments, like wallets or vouchers. KYC (Know Your Customer) Compliance A thorough KYC process is mandatory for onboarding users, verifying identities, and preventing fraud. Data Privacy and Protection Laws Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 Ensure you have a robust framework for data protection, especially for handling sensitive customer data. Digital Personal Data Protection Act The India Digital Personal Data Protection Act 2023 (DPDPA) is a landmark legislation that aims to safeguard the privacy of individuals in the digital age. The Act came into effect on September 1, 2023, and it applies to all organizations that process personal data of individuals in India. Prevention of Money Laundering (PML) Act, 2002 Your app must include Anti-Money Laundering (AML) measures to comply with this act. Ensuring proper KYC verification and monitoring suspicious transactions will help you avoid legal issues and protect your users. Cybersecurity Guidelines CERT-In Guidelines All fintech apps must report cyber incidents to the Indian Computer Emergency Response Team (CERT-In). Implement strong security measures like two-factor authentication, encryption, and frequent vulnerability testing to protect user data. Digital Payment Security The RBI’s guidelines on digital payments require fintech apps to offer secure payment methods, protect user information, and ensure transparent transaction processing. Compliance with GST (Goods and Services Tax) If your fintech app involves the sale of digital services or goods, ensure you’re meeting India’s GST requirements by properly registering and charging taxes when applicable.  P2P Lending Compliance (If Applicable) Peer-to-peer lending platforms are regulated by the RBI. If your fintech app facilitates lending, ensure compliance with the NBFC-P2P guidelines, which govern the conduct of P2P lending businesses. Intellectual Property (IP) Protection Ensure that your fintech app complies with Indian intellectual property laws, including software patents, trademarks, and copyright protections, to avoid legal disputes over proprietary technologies or branding. Foreign Exchange Management Act (FEMA) If your fintech app involves cross-border payments or deals with foreign exchange, ensure compliance with FEMA regulations for safe and legal financial transactions. Consent and Disclosure Policies Your fintech app must include clear consent policies, especially for data collection, third-party sharing, and marketing communications. Transparent disclosure of terms and conditions is critical to building trust with your users and complying with legal requirements. NOTE: The information provided in this Blog is for general informational purposes only and does not constitute legal or financial advice. You can find more comprehensive details on each of these from these Government Portals: PRAVAAH portal RBI Retail Direct portal IRDAI National Single Window System (NSWS) IFSCA FinTech Regulatory Sandbox