July 19, 2024

Top Fintech App Development Trends in 2024

The financial world is always progressing and touching new heights. The year 2024 has been exciting in the world of finance; there have been many technologies involved in this year. Our mode of conducting transactions has evolved with time. What used to be currency and coins in the past were transferred to plastic money with cards, and now mobile phones have taken the place of wallets. Here is the list of top fintech app development trends that will decide the future landscape of the industry.

  • Artificial Intelligence and Machine Learning

Harvesting Data

Artificial Intelligence has been transforming fintech applications. It is making these applications more intelligent for its users. One advantage of AI is personalization; it can offer experiences that are tailored to the user. They gather a very large amount of data to provide personalised experiences. AI can also look into our financial history and create plans that are suitable for our economic situation.

Connecting AI to Fintech Application

Integrating AI into fintech applications can function as a personalised assistance that helps to prevent fraud detection. Machine learning algorithms can be used to learn more about the individual and generate reports accordingly.

  • Blockchain


There was a time when the cryptocurrency was touching the sky, bitcoin and Ethereum, and everyone was running after. While tweets of “HODL” have been fading away, the decentralised world is making it easier to make cross-border payments and reduce the costs of transactions.

Blockchain in Application

Fintech apps built on decentralised platforms can secure all the details along with data in a transparent manner that anyone can access. Digital wallets, smart contracts and secure identity can come to reality thanks to new-age fintech apps.

  • Open Banking

Innovation at the Heart

Open banking lets third-party users access your financial data, but this looks scary at the beginning. It is important to understand that by opening access, you allow innovation to take place. Many fintech companies can now offer solutions by getting access to your information. Cross-selling methodologies are what give wings to open banking.

APIs for Open Banking

To use open banking, one has to integrate API into their application. This allows data to stream through two accounts and lets you explore new avenues. The more APIs you combine, the more you increase the chances of catching and retaining customers.

  • Biometric Authentication


From unlocking your phone to unlocking your banking application, biometric authentication has become a standard procedure. What used to be a password has now turned into a fingerprint and face ID.

Implementing Biometric Authentication in Application

You can incorporate biometric authentication into your FinTech application to increase security measures and stop unauthorised access. This may also help simplify the login process.

  • Digital Banking

Cost Savings

New-age non-banks are rising and eating the share of traditional banks. The convenience the non-banks are offering is unmatched by other old-styled banks. These banks are able to offer cards, loans, account operations, insurance, etc., smoothly.

Build a Neo Bank

A digital-only bank is easier to build and maintain. Compared to traditional banking, maintaining a digital-only bank is much cheaper. You also get access to real-time information about users and accounts, transactions and budgets.

  • Embedded Finance

Integrating Financial services

Embedded finance means integrating finance and non-finance in a single application. This type of application offers multiple solutions at a single stage. Financial transactions like recharge and payments along with shopping and social media.

Creating Embedded Application

The demand for super apps is high, and while China has won it with WeChat, there is a huge scope for players in developed and developing countries. X has been aiming to integrate payments along with tweets, while Tata Nue is aiming for shopping along with finance.

  • RegTech Solutions

Streamline Compliance

Regulatory solutions are becoming increasingly important. These types of applications help fintech companies to comply with existing processes. They hold deeper knowledge of the subject and serve as a guide.

Regtech in Application

Incorporating regtech in fintech automates compliance tasks. Suspicious transactions and illegal activities can be stopped after incorporating regtech in your mobile application.

  • Decentralised Finance (DeFi)

Disrupting the Market

Decentralised Finance (DeFi) is disrupting the traditional financial system on the back of blockchain technology. These decentralised platforms allow anyone to offer financial services without following a conventional path.

Make Defi Applications

Building a DeFin App

If you are planning to build a fintech app that is created on a decentralised platform, many things should be kept in mind. DeFi focuses on developing services that follow peer-to-peer exchange and yield measures that are protected through it.

  • Voice led Banking

Interact with User

Voice lead banking is a method in which users can conduct financial transactions using their voice. The application follows the voice commands it is given. Small tasks such as checking bank account balances, transferring funds and paying bills can be done through it.

Add Voice Command to Your Fintech App

Integrating voice-activated features in applications can ensure user interaction increases and it is used securely. The hands-free banking experience can be a USP for your application.

  • Sustainable Finance

Ethical Investment

Sustainable finance is gaining traction as consumers become more conscious of their impact on the environment. Fintech apps promote investments that are good for the environment and help people make the right decisions.

Sustainable fintech app

Building an application that offers sustainable investment opportunities and reduces carbon footprint is important. It increases the good impact that we are creating and promotes a green environment. You can highlight the impact of each individual and their contribution.


The fintech industry is evolving with time. Even though we have been seeing these changes in the past few years. The rapid development of infrastructure and the availability of information have exceeded the expectations of consumers. Whether it is AI or ML, these newly built technologies are changing the fintech world.

Remember to build an application that your clients want. Sometimes, clients wish to have some easy features rather than some high-end, complicated features. Providing the same can be helpful at the time of building the fintech application.

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