Stages of Developing a Fintech Application
The Traditional Way
The Finxone Way
Brainstorming
The Industry experts with the Idea begin to map out how they can address a gap in the market
Designing
Specialist skills with design tools to make all the pages for an application look and work as intended. Often done with dedicated teams with large amounts of expense and specialist tools
Frontend
Then you need to engage with another set of specialists who build the front end based on the designs. Sometimes loosing something in translation
Backend
Just a pretty, static front end isnt enough, you need a back end that will handle all the operations and logic that facilitate data processing, storage, and communication, supporting the overall functionality
API Integration
Now you've built your application you need to make sure it will speak to others. And they dont all work the same!! It can be very time consuming to get it right
Cloud host
Now that an application works and has been tested on local servers, it needs to be hosted somewhere that the rest of the world can access it
Regulated Partner
And finally if your application is backed on to a Regulated financial body you will need to ensure that you have deployed all the prerequisite compliance and security requirements before they allow you to be live
Brainstorming
The Industry experts with the Idea begin to map out how they can address a gap in the market
Drag N Drop Design
No specialist skills required. If you can build a PowerPoint you can build a Fintech application. Finxone takes care of building the backend, spin up hosting services (you just have to point your DNS) and integrate your APIs as you design your frontend
Publish
Finxone pre-configures all the API linkages and compliance aspects of the application which means that it is much faster to get it past due diligence and go live. You will however, still need to pass the banking KYB and AML compliance
Building Applications the Old Way
- Takes a long time
- Needs a wide range of skillsets
- Compliant in many places
- Hosted with DNS routing
The Finxone Way
- Faster from idea to application
- Less high level skills
- Less time
- Less risk
Finxone’s ability to save months of time in developing a fintech application is truly remarkable. Building a fintech application from scratch can be a complex and time-consuming process, involving various components such as security, compliance, integration with financial systems, and user experience. However, with Finxone’s comprehensive and customisable platform, developers can leverage pre-built modules and functionalities specifically designed for fintech applications. This significantly accelerates the development process, allowing developers to focus on fine-tuning the application to meet their unique requirements rather than starting from square one. By eliminating the need to develop foundational features from scratch, Finxone empowers non developers to deliver high-quality fintech solutions in a fraction of the time it would typically take. This not only saves valuable time and resources but also enables businesses to quickly enter the market, seize opportunities, and provide innovative financial services to their customers.