Traditional financial services are getting completely revolutionized with the introduction of FinTech apps. These apps utilize the latest technologies such as Blockchain, AI, Data Science, IoT, and smart analytics. For this reason, the FinTech app users are able to enjoy better convenience, security, faster transactions, and more.
Currently, Android is the most dominating mobile platform for developing FinTech apps. In fact, Android has a market dominance of over 87%. Moreover, the platform has over 2 billion devices in the market. In this blog, we are going to discuss why Android is a preferred mobile operating system for mobile app development.
Why Android is Dominating in FinTech App Development?
It is already clear that Android has a wider userbase than iOS devices. Thus, it makes more sense for financial institutions to develop Android apps to capture a much bigger market. Plus, even amateur developers are able to use free tools for app development, which makes FinTech app development a seamless process.
Moreover, the platform itself provides a huge scope of flexibility and customization. Let’s find out more reasons why do FinTect apps rely so much on Android;
Low Transaction Costs
Transaction costs are everything when you are trying to run a FinTech mobile app. In fact, every FinTech company and investor wants this cost to be minimum to maximize their market reach. Moreover, Android gives them the potential to easily collaborate with a variety of middlemen and smoothly carry out the transactions. For this reason, many businesses invest in FinTech app development company.
Better Security Standards
Security is a major concern in digital banking solutions. FinTech app development using Android helps us to build a robust and secure infrastructure with the modern features of FinTech applications.
There are tons of security measures such as biometrics for authentication, multi-factor authentication, military-grade encryption, and AI that help FinTech apps to become more secure on the Android platform. Plus, Blockchain-based decentralized servers can take this security to the next level.
Attracting the Young Customer Base
The young generations and the millennials are more attracted to technology-driven banking solutions instead of traditional banking methods. Moreover, this Audience is more inclined toward an open and unrestrictive platform. Thus, Android becomes their choice of platform for carrying out transactions, online purchases, money transfers, etc
This means you can attract the attention of these users by focusing on FinTech app development with Android.
Smother transactions could be your key to winning the trust of customers. Android has much faster transaction mechanisms that help businesses to ensure faster transactions.
It is also possible to easily customize an Android application according to user taste and preferences. Thus, you are freer to build a FinTech app of any complexity. This convenience of smoother transactions could help you win customer loyalty. It would be advisable to hire Blockchain developers to build more robust FinTech apps.
The Use of the Latest Technologies
Android has always been known for its compatibility with innovative and emerging technologies such as AI, Blockchain, VR, AR, and more. Thus, you can take full advantage of these technologies to build a more advanced and insightful mobile application.
Android gives you more potential to experiment and customize to build unique and robust mobile applications. For this reason, many businesses prefer the best mobile app development company to build their Android FinTech apps.
FinTech apps are transforming financial companies and individuals. In fact, they have also opened a portal to new opportunities for businesses. Moreover, a number of banks often looking for the best mobile app development company to build their FinTech app on the Android platform.
MobileCoderz is a leading FinTech app development company that empowers financial businesses with world-class FinTech app development. You can even hire Blockchain developers to build cutting-edge FinTech solutions.