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Posted by Parija Rangnekar On Filed under Uncategorized No Comments
Disruptive trends in Fintech software development continue to revolutionize the financial landscape, driving innovation and reshaping how banks operate and serve customers. As we step into 2025, staying ahead of fintech trends is crucial for banks to maintain competitiveness, enhance customer experience, and meet regulatory demands. Below are the key fintech trends banks should embrace to stay ahead:
mobile app development

1. Embedded Finance: A Seamless Banking Experience

Embedded finance integrates financial services directly into non-financial platforms, allowing consumers to access banking, lending, or payment solutions within their daily mobile apps. For example, ride-hailing services offering payment wallets or retailers providing “buy now, pay later” (BNPL) options.
What Banks Should Do:
  • Find the right partner to integrate services.
  • Develop APIs and SDKs to enable easy embedding of banking solutions into third-party platforms.

2. AI-Driven Personalization

Artificial intelligence (AI) is empowering banks to provide hyper-personalized experiences by analyzing customer data to offer tailored products, financial advice, and proactive fraud detection.
What Banks Should Do:
  • Invest in AI-powered tools for customer segmentation and predictive analytics.
  • Use machine learning models to enhance fraud detection and risk management.

3. Decentralized Finance (DeFi) Adoption

DeFi, powered by blockchain technology, offers peer-to-peer financial services without traditional intermediaries. While this trend disrupts conventional banking, it also presents collaboration opportunities.
What Banks Should Do:
  • Explore partnerships with DeFi platforms.
  • Leverage blockchain technology to enhance transparency and efficiency in traditional financial services.

4. Green Fintech and Sustainable Finance

Sustainability is no longer optional. Green fintech solutions enable customers and businesses to monitor and reduce their carbon footprints while investing in environmentally friendly initiatives.
What Banks Should Do:
  • Offer green bonds and sustainable investment portfolios.
  • Incorporate ESG (Environmental, Social, Governance) metrics into product development and reporting.

5. Digital-First Banking Experiences

The demand for digital-first solutions remains high as customers prioritize convenience and accessibility. From account opening to loan processing, fully digital workflows are becoming the norm.
What Banks Should Do:
  • Create a smooth UI to enrich mobile banking platforms.
  • Adopt eKYC (electronic Know Your Customer) for faster customer onboarding.

6. Regtech and Compliance Automation

With evolving regulations, banks face increasing compliance challenges. Regtech tools leverage artificial intelligence and machine learning to enhance compliance workflows, oversee financial transactions, and mitigate potential risks.
What Banks Should Do:
  • Implement automated compliance monitoring tools.
  • Keep informed about both international and domestic regulatory updates.

7. Real-Time Payments and Instant Settlements

As customers expect faster transactions, real-time payment systems are gaining traction globally. This trend extends to cross-border payments, which are becoming faster and cheaper with blockchain and API-driven solutions.
What Banks Should Do:
  • Upgrade legacy systems to support real-time payments.
  • Explore blockchain-based solutions for cross-border transactions.

8. Open Banking Ecosystems

Open banking initiatives are transforming traditional banking by enabling third-party developers to build applications and services around financial institutions. This fosters innovation and customer-centric offerings.
What Banks Should Do:

9. Cybersecurity Enhancements

With increased digitization, cyber threats are at an all-time high. Banks must have robust security protocols in place to protect sensitive customer data and uphold client trust.
What Banks Should Do:
  • Invest in advanced threat detection systems.
  • Educate customers about cybersecurity best practices.

10. Super Apps: Consolidating Financial Services

Super apps combine multiple services, including banking, payments, shopping, and more, into a single platform. These apps are becoming increasingly popular in markets like Asia and are gaining traction globally.
What Banks Should Do:
  • Team up with the right IT partner and offer integrated services.
  • Focus on delivering a seamless and intuitive user experience.

Staying Ahead: A Call to Action

2025 is poised to be a transformative year for the financial sector. By embracing these fintech trends, banks can stay competitive, foster innovation, and deliver unparalleled value to their customers. However, success requires a strategic approach, leveraging technology, forming partnerships, and staying attuned to evolving customer needs.
Is your bank ready to take the leap? The time to act is now.

Written By Ashish

CEO

Why React Native is a Leading Choice for App Development over Hybrid Apps?

Posted by Parija Rangnekar On Filed under Mobile App Development No Comments
Why React Native is a Leading Choice for App Development over Hybrid Apps?
react native app development company
While developing mobile apps, most of the businesses want high-performing apps built faster at minimal costs. But the availability of numerous outstanding technologies causes dilemma while choosing between top-quality app development and low and affordable costs. In this regard, ‘Hybrid app development or the React Native app development ’ becomes the topic of the debate a lot of times.
Several businesses go for hybrid mobile app creation thinking that it meets their requirement. No doubt it offers advantages like:
  • Faster development in a cost-efficient manner.
  • Wider reach at once.
  • Offline support.
  • Ease of integration with cloud.
But before investing in hybrid apps, businesses must also look at the drawbacks associated with it.

Drawbacks of Hybrid Apps

Unsatisfactory Performance: These apps crash several times. Also, these introduce an extra layer between the targeted mobile platform and the source code which ultimately deteriorates their performance.
Unappealing User Interface: The first impression is the best impression. Hybrid apps visible on the app store do not entice the user because they have a very dull look and appear like web apps on the android and iOS platforms. Owing to lesser clarity users tend to avoid downloading such apps.
Below-average User-experience:The UX of the modern-day apps is impeccable and highly captivating. But a hybrid mobile app fails to match with this raised bar of UX in the apps. They have sluggish graphics, limited animation, keyboard malfunction, and absence of platform-specific features that contribute to poor user experience. This could be the probable reason why Facebook switched from HTML5 to React Native.
Debugging Issues:  As discussed previously, the additional layer between the platform and the code of hybrid apps makes the debugging process lengthy and complex. The developers have to rely on the framework to make modifications to the targeted OS. Also, since the developers may not have a thorough knowledge of the target platform, detecting issues in these apps becomes highly time-consuming.
Limitations while upgrading to Latest Features: To stay in the competition it is essential for the apps to embed new features and upcoming software capabilities. But in hybrid mobile apps, this process is extremely difficult and troublesome.
With such disadvantages, it can become highly impossible to develop attractive, engaging, and robust apps while maintaining cost-effectiveness. At this time, the usage of React Native for developing apps comes in picture.

Top-notch benefits that React Native app development offers

react native app development
Native-like Functionality and Appearance: Similar platform components are used in React Native applications like native Android or iOS apps. So, these have native-like look and feel and have better performance. On the contrary, hybrid apps are like a web view with a native container wrapped around them. They are not smooth and fast. On any operative device, hybrid apps run and behave like web apps.
Code-reusability for Time and Cost-efficient Development: The benefits of React Native as a  cross platform app development framework are known to all. This framework allows the sharing of a single code-base across multiple platforms, and so it is possible to create top-grade apps in half the time when compared with native apps, thereby being more cost-effective. Hybrid apps, on the other hand, have age-old frameworks that require more time for development.
‘Ready-made’ Components and Third-party plugins: React Native has a reusable component-specific structure, so the developers do not need to write code for these components from scratch. Comparatively, hybrid apps have a WebView component that is getting out-dated gradually. Also, React Native has a host of amazing third-party libraries with pragmatic interfaces and flexible customization options.
ReactJS’s Programming Model: React Native is nothing but a JavaScript framework at its core and makes use of the programming model of ReactJS. As a result, the React Native developers utilize the same conceptual framework used in ReactJS apps.
Attractive and Efficient User Interface: React Native is much more exclusive and versatile as compared to other JavaScript frameworks like Angular and React. Due to the asynchronous JavaScript connections, the resulting user interface of React Native becomes highly responsive and native-like. It has a smooth feel with faster loading times and looks much better visually as compared to hybrid apps.
A rich Open-source Ecosystem and Vibrant Community Support:This framework is open-source and has a rich open-source ecosystem for knowledge sharing and external integration. It is backed by a strong community and talented developers worldwide contribute to its progress. Big players like Facebook, GitHub, Callstack, Software Mansion, Microsoft, Infinite Red, etc. support this framework.
Used by several Industry Giants: Above all, this cross-platform framework supports big leaders like Instagram, Facebook, Tesla, Walmart, Bloomberg, etc. It is being adopted for varied applications by diverse industries and this fact speaks for the popularity of React Native.
Other Technical Merits: The below-mentioned features simplify the coding efforts and also make the testing of the apps easier.
  • It has a modular architecture that helps to divide the code functions into free and interchangeable modules; thereby speeding up the development process.
  • The ‘Hot-reload’ feature is another great feature of this framework. Any modification in the code immediately reflects in the apps, even while the apps are running. It reduces the wait times and allows the implementation of any feedbacks with ease.
  • The declarative coding style in React Native makes the reading and understanding of code much easier. It enables even new developers with basic knowledge of JavaScript to grasp the coding of this framework.
  • It allows for easy migration

Concluding Note:

With this, we come to the end of this blog. We saw how apps developed in React Native have unparalleled quality and performance as compared to hybrid apps. It has almost killed hybrid app development. The apps built in React Native are stable and reliable. Also, it is a cost-effective technology for cross-platform mobile app creation. Needless to say, this technology is already popular and every React Native development agency has a bright future. So, if you were thinking of hiring a hybrid app development company, for your next project, its high time to reconsider your decision.
We hope this blog was helpful to you in understanding why React Native is a preferred choice for app development. Let us know your vital thoughts on this in the comment section.