As FinTech keeps establishing a stronghold in the day-to-day lives of end-customers making it easier than ever before, FinTech applications need to be more secure, appealing, and flexible. It is here when the adoption of key technologies like Blockchain, AI, and biometrics becomes a non-negotiable factor. Keeping this into consideration, we have compiled a list of four such FinTech app development features, which you shouldn’t ignore. 

Let’s take a look. 


Blockchain has already become a mainstream FinTech innovation. The technology provides greater transparency at the price of minimal time. The significant benefits of blockchain technology are that it efficiently records, validates, and administers every transaction without offering any backdoor for tampering the transaction record. FinTech firms can eliminate high transaction fees for international and local payments with the help of blockchain. Moreover, blockchain supports secure and fast data-sharing across various platforms without any recourse to banks, insurance companies, and more such intermediaries.

Biometric Security

FinTech and robust security travel hand-in-hand as the latter is quite essential to the domain. Highly publicized cyber attacks corrode user confidence when it comes to using online payment modes. Companies have started replacing/augmenting inconvenient and unreliable password-based security models with fingerprint input. The apps in the future will arrive packed with extra biometric authentication choices, for instance, facial recognition, as it has been proved to have higher reliability compared to other modes. 

A biometric technology that uses the heartbeats of users to identify them is also under progress. The user will be able to successfully log into the app by letting the smartwatch or wrist band measure their heartbeats. Another such piece of remarkable technology is under development – palm vein biometrics. The concept behind this is similar to that of fingerprint recognition. One can scan their hand over the reader to authorize payment or access.  

Voice-Assisted Banking

AI for voice recognition & generation is almost omnipresent these days with the introduction of personal virtual assistants like Cortana, Siri, Alexa, and Google Assistant, and smart speakers such as Amazon Echo, Apple HomePod, Google Home. Voice-assisted banking is quite popular already, and it wouldn’t be incorrect to say that we’re rapidly moving towards the time when virtual assistants will be used for banking transactions everywhere. 

This would eliminate the need for those annoying and equally boring bank calls. The online bots assigned by vendors will make it easier for customers to solve their issues utilizing the ‘chat‘ feature. The currently deployed bots in FinTech are responsible for simple problem solving and messaging. However, the advancements in AI will broaden their field of use.  

Artificial Intelligence in Automation and Personalization

Quite a significant chunk of modern FinTech applications have already deployed features of AI into their software. Some apps already rely on algorithmic procedures that are complex, which determine the amount that users can afford to save or spend. Automated customer processes, chatbots, and advanced machine learning will offer smart banking services to customers and enhance customer service. 

AI will help developers to build FinTech apps that automate repetitive and manual tasks, and it can help users take immediate decisions concerning their money – loans/interest rate approval, where to put it, and so on. It will offer smart suggestions and answers to customers based on their investment and spending patterns and habits, which is one of the AI personalization’s approach to aid the financial services providers to become more interactive with users. The artificial intelligence will be designed in a way to enhance accuracy and boost operational efficiency, hence freeing up bank resources and permitting finance professionals to concentrate on more productive activities.

The Future Looks Bright

FinTech apps have drastically reduced the reliance of customers on their respective banks. Moreover, it continues to do so. As FinTech-driven businesses carve their path to making more useful apps, they will start handling more and more needs of the end-users. At some level, the banking industry’s disruption seems inevitable. That is one of the main reasons why banks have started partnering with various FinTech companies and rushing their projects, which deliver enhanced access and convenience to users,  to the market. FinTech is undoubtedly revolutionizing the global market, but as they say, the most appealing and useful features have just started to emerge. In simple words, it is just the beginning! 

Are you planning to build a FinTech app? Talk to us! We are happy to help.