How can I verify my application idea?

First things first, you should have a clear understanding of the problem that your app is supposed to solve. The key to a successful digital product is pinpointing current user needs and knowing exactly how to respond to them. The first step on this journey should focus on answering the question: is there any demand for what I’m offering? Secondly, you should get to know your potential user base and whether or not they’re likely to use the app. Thorough background research is essential in order to verify a product idea. Try to estimate the number of users your app is likely to have and find out if there are similar options already on the market. If so, think about the benefits of your app that would make users switch to a new solution. Ideally, you’d have a list of features for your new app and be able to compare them with what the competitors have in store. To assist you in achieving your business goals, at Miquido we offer a range of Product Ideation & Strategy services that will help you to refine your app idea and make sure you’re on the right track. Of course, the real test comes once the app goes live. There’s always a risk, and that’s why we recommend starting with a minimum viable product in order to gain real insight into your users’ needs and receive the much needed feedback on your app idea.

Why is it worth investing in AI app features?

The most obvious answer to this question requires only one word: personalization. Using AI to analyze and process enormous amounts of data can help you better understand your users and give them a personalised experience, which makes for better user engagement and loyalty to your digital product. It is also worth noting that the use of AI powered speech recognition technology is currently on the rise, and is only expected to grow in the upcoming years. Taking into account the recent tech trends, equipping your app with AI features may be crucial when it comes to staying ahead of the competition.

Custom FinTech Software Development Services

Q: What is a financial app?

A financial app, also called a fintech app, is a software solution developed with the aim of managing and optimising various financial processes. Those can include digital banking, personalised money management, market investments, insurance activities, and many other different operations. The popularity of financial apps has risen significantly in recent years as mobile banking has become the new norm, and the fintech app industry is only predicted to continue to expand in the near future.

Q: How much does a fintech app cost?

The cost of your fintech app can vary depending on numerous factors, some of which will have more of an impact on the final price than others. The basic questions that will help to estimate the cost of your project are: How complex is the app idea? What features do you want the app to have? Which technology stack should be used to build your app? Having that in mind, the development of a fully functional minimum viable product takes about three months. If we look at average rates for leading software houses in Central Europe, without taking things like design, project management, and app maintenance into account, you can easily estimate that the cost of such MVP developed for one platform (Android or iOS) will be close to around 30 000 GBP.

Q: Which software language is used for a mobile banking app?

The most commonly used language when it comes to banking app development is Java, which has been the preferred option by the fintech industry for over two decades. Mobile banking apps for Android are most often developed using either Java or Kotlin, which is considered to be the more modern solution, while Swift is used for iOS.

Q: Custom vs. pre-made fintech app: which one is better?

As with most such questions, analyzing a company’s particular business needs is the key to a clear answer. There are many companies that would be perfectly satisfied with an out of the box solution. However, if you’re looking for a unique, scalable product, then custom app development is the way to go. Pre-made fintech apps have one major asset on their side, which is a significantly lower cost. However, you have to take into account that pre-made solutions come with major drawbacks when it comes to scalability and customization. And when it comes to additional costs along the way, a custom solution may actually prove to be the cheaper choice in the long run. Custom app development allows you to stay ahead of competition as it offers the possibility of making various changes and adding multiple new features.

Build the Future of Financial Services

Leverage cutting-edge AI, proven software solutions, and frictionless implementation to stay ahead in the rapidly evolving financial landscape.

Consult your idea

Custom Fintech Software Development Services

Our expertise

Delivering innovative, scalable, and tailored technology solutions that empower the FinTech industry to thrive in a digital-first world.

AI-Powered Solutions for Finance

Transform financial operations with secure, scalable AI tools that reduce costs, enhance efficiency, and elevate customer experiences. From intelligent document verification to 24/7 conversational AI, our production-ready solutions deliver rapid implementation and seamless scalability.

Software Solutions Packages

Enterprise-grade financial software built for modern institutions, combining rapid implementation, proven reliability, and robust security. From mobile banking to fraud management, our modular solutions scale effortlessly to meet your evolving needs.

Value Added Services (VAS)

Enhance your financial product with premium lifestyle features that boost customer engagement and unlock new revenue streams. From travel perks to educational tools, our tailored solutions integrate seamlessly to elevate your offering.

Secure success with strategic benefits

Cut operational costs from day one

Achieve a 20-30% reduction in KYC costs by automating document processing and enhancing employee efficiency, optimising your financial operations from the start.

Transform customer interactions

Leverage instant feedback, multi-language support, and 24/7 automated assistance to elevate your customer service and satisfaction levels.

Gain enterprise-grade reliability

Ensure your financial services are always available with our proven solutions, processing Millions of monthly transactions with 99.99% uptime.

Secure your financial platform

Protect your data with built-in security features and modern architecture, minimising risk and ensuring compliance with industry standards.

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Our FinTech Software Development Services

We build cutting-edge FinTech products that redefine digital banking and financial services. Trusted by Nextbank, SBAB, BNP Paribas, and other industry leaders, we specialize in delivering scalable, secure, and regulation-compliant solutions.

Through in-depth market research and workshops, we help FinTech enterprises shape innovative financial products that meet real user needs.

Discovery & ideation process

We turn ideas into actionable strategies.

From banking apps to wealth management platforms, our development team ensures secure, scalable, and user-friendly solutions.

Product design & development

Using battle-tested frameworks and tools, we craft seamless, high-performance FinTech applications.

Our AI-driven solutions help FinTech companies reduce costs and maximize operational efficiency.

AI-Powered business optimizations

Leverage AI to automate financial processes, enhance fraud detection, and improve decision-making.

ensuring your FinTech platform grows with your business.

Building highly-scalable system architecture

We design and implement robust system architectures that handle high transaction volumes without compromising speed or security,

We enable seamless cloud migration, ensuring improved scalability, data security, and compliance with financial regulations.

Cloud migration services

Move your financial infrastructure to the cloud with confidence.

Our experts seamlessly take over legacy platforms, optimizing and modernizing them to meet the latest FinTech standards, security protocols, and performance benchmarks.

Project audit & takeover – Legacy systems modernization

We conduct comprehensive audits of existing financial systems, identifying inefficiencies and areas for improvement.

We provide experienced engineers, designers, and consultants who seamlessly integrate with your team, ensuring efficient project execution and accelerated delivery.

Team augmentation

Strengthen your development capabilities with our highly skilled FinTech specialists.

We ensure your FinTech product meets compliance standards, from PSD2, GDPR, and AML directives to country-specific banking laws.

Market regulations & compliance consulting

Navigating financial regulations is complex.

Enhance your FinTech projects with our expert team and FinTech dedicated services, seamlessly integrating top-tier specialists to accelerate development, ensure regulatory compliance, and drive innovation.