Srikanth
Are you looking to develop a mobile banking app? If so, you might be wondering how to go about it. There are three main options: native application development, and hybrid or cross-platform frameworks. Each comes with its own advantages and disadvantages. But when it comes to getting your product to market fast, nothing beats having a hybrid app. From lower costs and faster time-to-market to ease of maintenance and scalability, choosing a hybrid app tech can be just what you need to kickstart your product.
The hybrid approach offers numerous advantages, and here are just a few of them:
- Faster time to market. With hybrid apps, you can launch in weeks rather than months or even years. That’s because the same codebase can be used for multiple platforms with minor tweaks, increasing the pace of development.
- Lower costs. By reusing existing code, fewer resources are needed to build and maintain apps. On average, it can save 30-40% of the costs.
- Scalable and agile. As technology progresses, so do hybrid apps, providing you with increased agility to navigate ever-changing markets. It makes it easier to apply changes or add features, ensuring that your app is always up-to-date.
- Ease of maintenance. In addition to development costs going down when using hybrid apps, the technology also reduces maintenance costs as you don’t need to keep 2 separate teams for iOS and Android apps.
While there are numerous benefits to developing a hybrid app, it is important to consider the potential risks as well. One of the main cons of hybrid app development is the limited support of third-party apps. This can be a challenge when you are looking to integrate with other service providers that don’t have Flutter SDK. Another downside to hybrid app development is limited access to development tools and options. It can be challenging to build apps interacting with media, phone sensors, memory, etc.
What Is Flutter?
Ever since mobile technology took off around the world, it’s been a mad dash to keep up with ever-changing user needs and device features. For companies in the banking and fintech industries, this has meant striking an important balance between speed and accuracy and finding the perfect mobile app development frameworks to help craft smooth, powerful user experiences.
Enter Flutter. While other cross-platform frameworks like React Native and Xamarin have their merits, Flutter—Google’s software development kit for building iOS and Android apps—has emerged as one of the most popular options for developing fintech apps.
From funding sources to foreign exchanges, Flutter is now powering the world’s most innovative digital financial solutions. A few of the most popular banking and fintech apps made with Flutter include:
- BBVA Wallet – A secure digital wallet to store debit/credit cards and make payments.
- WorldRemit – A mobile app that allows users to easily send money around the world.
- N26 MoneyBeam – An instant money transfer service for easy exchange of funds between N26 users.
- Stripe Terminal – A solution for online payment processing and point-of-sale transactions.
These are just a few examples of the many apps built with Flutter, but they go to show that it is growing in popularity with both developers and consumers alike. The framework makes it easy to create feature-rich mobile applications that are reliable, secure, and powerful enough to handle the demands of banking and fintech services. With Flutter, you can make sure that your mobile app stands out from the competition while delivering better UX.
Using the Dart programming language and several public UI components and libraries, Flutter allows you to quickly create your own unique interface designs and custom animations. This makes it easy to create unique and engaging fintech apps that provide users with an intuitive, enjoyable experience.
Why Choose Flutter for Your Fintech App?
One of the major advantages of Flutter is its speed. When you need to build a banking or fintech app quickly, Flutter is the answer. It can create an application in just a few months, as opposed to several months with other frameworks.
Flutter also offers time-saving features. You can make changes and see them immediately, thanks to its Hot Reload capabilities, which allow you to instantly update code without having to restart the application each time. Also, since Flutter uses the same coding language across both iOS and Android platforms, developers don’t have to learn two different languages – making the development process even faster.
Another benefit of using Flutter for a fintech app is its high performance and scalability. With Flutter, developers can create apps that run at 60 frames per second (fps), providing your customers with seamless usability, even on devices with slower CPUs or limited memory. Plus, it can handle large-scale applications that are used by millions of users around the world.
Finally, Flutter allows developers to maintain their app’s UI and business logic codebase in one place simplifying maintenance and updates for the life of the product.
Flutter Security
Security is a major concern for any banking software platform, and that’s why you need to choose a solution that can offer top-notch security features. Flutter is designed from the ground up with security in mind, and offers several features that make it one of the most secure platforms for developing banking or fintech apps:
- Authentication
Flutter supports the industry standard of authentication protocols, such as OAuth 2.0, which helps protect user data in your app.
- Network Security
Flutter offers TLS (Transport Layer Security) to encrypt all communication between your app and its backend services, ensuring that user data remains private and secure.
- Advanced Encryption Standard (AES)
Flutter utilizes AES encryption to protect user data within the app itself. AES is a cryptographic algorithm used by governments and large organizations around the world to protect sensitive data.
- Secure Coding Practices
Flutter encourages the use of secure coding practices such as input validation and sanitization, proper session handling, and compliance with standards such as OWASP (Open Web Application Security Project). All this helps ensure that your app is resilient against common security vulnerabilities.
The conclusion is clear. Flutter is the ideal choice for building fintech apps as it has a wide range of features and tools to build products quickly and efficiently. Flutter makes it easy to create apps that are secure, reliable, and easy to use. Flutter is the perfect choice for businesses that want to take advantage of new and innovative technologies that can revolutionize how their customers interact with their banking apps.
