According to Statista, the use of online and mobile banking is estimated to increase steadily between 2020 and 2024, with the Asian market being the largest. As of 2020, more than 1.9 billion individuals globally actively used online banking services, with that the number estimate to reach 2.5 billion by 2024.

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With the emergence of various online selling and purchasing platform, there has been a rise of different unique online payment modules like PayPal or Stripe. We can see a number of businesses and organizations are deploying these online payment modules, and one of the prestigious clients asked ValueCoders to develop a world-class online payment banking app. The motive of this app is to build an online payment module that can allow users to do the transaction from anywhere to everywhere. 

Let’s discuss further how ValueCoders developed a world-class online payment banking app:

As the top banking software development company, our main priority was to give the desired app to the client and include as many customizations as the client need in order to build a financial wealth app. 

Nowadays, many banking software companies have started making applications that can help you with an easy transaction, we @ValueCoders provide the same benefit with more secure options, and users can buy the SENs (Complementary currency), and they will be able to use them for day to day transactions within their cities.

Technologies we used while developing an App:

• Node.JS
• React Native

Node.JS: Node.JS is a well-known open-source, cross-platform, backend JavaScript runtime environment that runs on the V8 engine.  

Node.JS can be used for building Banking Software Application that requires real-time data calculations and stats. 

So it was our primary choice for this Banking software application because if more than 1 million people are using the app simultaneously, Node. JS can easily handle that, as it is a good choice for large-scale apps relying on real-time data.

React Native:  React Native is also an open-source mobile application framework created by Facebook, Inc. Many big industries use this tool for building applications, and because it is very efficient and perfect for mobile apps, We use it for giving a better experience to the users. 

Challenges Faced While Creating Online Payment Banking App

The client wanted to make an app with solid malware, as it is a matter of transaction of money; it has to be taken care of. And the online banking apps consisted of many variables. There was some functionality of currency changes within the master admin panel, where the admin could change the currency value per SEN.  

All this led to the change in calculations within the application after getting it done. And the analysis was very complex, and our project management team understood the queries/calculations and tackled them by closely coordinating the results with the client. 

The application involves currency and payment transactions, so it was necessary to keep it as fully secure as possible. We used AWS EC2 Server with SSL Layer and Amazon S3 Server for Images to meet security demand. 

It has always been quite fun to deal with such kinds of situations. We are a group of talented professionals and developers who know how to tackle different aspects and problems while developing an app. 

To overcome some challenges, The team of ValueCoders used some Banking Software Solutions and focused on developing the application with all the latest updates. 

SOLUTION IMPLEMENTED BY US

Requirement Analysis

In this particular segment, we try to gather every possible information from stakeholders and document the same. It helps us remember all the key factors and helps develop the app with all functionalities. 

We follow the “SMART” rule for creating the documentation, which stands for Specific, Measurable, Attainable, Relevant, and Time-bound steps. 

And after finalizing the document, the wireframes are created, which acts as a blueprint defining the feel of the platform with respect to all functionalities. Having proper documentation of what you need and achieving the target is always necessary for better results. We always have documentation to present directly to the client to understand the project better. 

Designing Phase

Developing an app is like climbing a stair; you will face another challenge with one step up until you reach your destination. Similarly, after creating a wireframe, we move to the designing phase, in which our UX/UI developers design every single module and theme color. Every module is interlinked with functionality having some dummy data in use.

Execution Phase

With the designing part, our Backend developers develop all the initials API, and frontend developers integrate all available APIs with best practices making dynamic to all the screens. 

Client Request Based Project Delivery

Giving the best product to our client is our main motive, and just because of that, we constantly get in touch with the client after passing even a single module so that the client can check that and suggest anything more required. In this case also, while developing a banking software application, we connected with the client after passing every phase.  

Developers are connected in conversations with clients daily and follow their ideas or suggestions. In case of any feasibility challenge, developers give the alternative solution and try clients to be on the same phase. 

Clients also mention the Jira and assign the task to developers as per their priority. This process helps us meet the client’s expectations in the best possible manner and ensure the timely delivery of the tasks.

Deployment Phase

After all of that, in the deployment phase, we do the testing and see if the App is ready to use or not, and doing proper unit testing on a local machine merge with develop branch and deploying to the dev server helps us to know more about App. 

If any issues are found, the developer’s team tries to find them out and resolve them before delivering the app. 

Then we send PR (pull request) for the main branch that will be deployed on the live server after review. We are using AWS servers for all kinds of deployment.

Have a look at the video below :

RESULT

The client received the final delivery of the app on time and launched it with great enthusiasm. ValueCoders delivered all deliverables within a predefined schedule. There are around 1000 registered users on the platform, and the client is able to share its vision of autonomy, liberty, and responsibility.  

The final application for the client is full of excellent features like: 

• Accept Payments Online
• Barcode Scanning
• Bill Me Later
• Credit Card Reader
• Express Checkout
• Inventory Tracking
• Mobile Card Reader
• Online Invoicing
• PCI Compliance
• Shopping Cart
• Virtual Terminal

These are some main features of the app which was appreciated by the client after getting feedback from the users. 

After using it, users also admired the banking software application and gave some valuable feedback, which made us and the client very excited. Creating these types of cutting-edge solutions requires deep research on the market demand and the user’s mind of what they are searching for? 

If you are looking to build such applications that can increase the credibility of your business by giving modern-day solutions, you can connect with us. 

We help startups, small and medium-sized businesses adopt modern technologies and target tech-savvy contemporary audiences innovative. For more business ideas and recent tech trends, stay tuned with us.

The post How ValueCoders developed a world-class Online payment banking app? appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.

From secure & faster transactions to banking on fingertips, technology has changed the face of finance. The global fintech market is expected to surpass $26.5 trillion in 2022. The advancement in this space is continuous, and the COVID-19 crisis has pushed the enhancement. 

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With a wide range of opportunities to users, fintech has grown a hot topic among investors, entrepreneurs, and startup enthusiasts. If you are thinking out loud about making a fortune with a fintech app idea, then you must be wondering what types of solutions you can develop. 

In this article, we will take a look at fintech app ideas that can open the gates of opportunities and success. So, stay hooked until the end of this write-up. 

Finance App Ideas To Invest & Begin A Startup In 2021 

Finance apps are becoming a handy tool among people, as they are finding ease in making payments, sending/receiving money, contactless payment, expense management, and more. Thus, having a fintech development & startup with a mind-blowing app idea can enable you to capture the market and allow you to achieve success in the meantime. 

Wondering what different types of finance apps you can launch to kickstart your startup business? Let’s take a glance at them. 

#1. P2P Payment Apps 

There has been a huge influx in peer-to-peer money transfer practice in the recent couple of years. The growth graph of this market is booming at a constant pace and looking forward to developing a P2P money transfer application that can turn out the biggest hit. 

Indeed, the well-known applications of this space are Venmo, Zelle, PayPal, and Google Play. However, there is still room for faster and secure applications. Actually, these applications have their own regional restrictions when it comes to money transfers. 

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While providing consumers with incredible facilities between bank holders instantly, they are chopping the need for third-party intervention or paying the commission fee for the transactions. You can make the process more advanced and secure by infusing features like biometric technology, and voice-enabled transfer, and blockchain integration. 

Leaving everything aside, the P2P money digital payment app is one of the best finance app ideas that enable people to make seamless and commission-free money transfers. For more clarity on the concept, you can connect with a finance software development company to guide your course.

#2. Loan and Credit App 

Won’t you like to get your loan approved with just some simple clicks on your mobile screen? The loan and credit finance app idea brings it into the picture. An app that enables users to get a loan is an incredible startup concept in the Fintech market. 

It also works as a medium for P2P lending apps between the lender and borrowers. On this platform, both lenders and borrowers can connect and cater to the needs of each other without any third-party interaction or authority over the loan. 

Moreover, it also averts the need to use any bank or financial institution to carry out credits. Besides, the credit and loan app enables borrowers to set the limit of loan rate, and also, they can bargain with the lender on the interest rate. Isn’t it a revolutionary idea to avert the need for intermediaries and authority of banks in the loan and credit system? 

Moreover, borrowers can take personal loans, home loans, car loans, business loans, and many from the reliable lender on the low-interest rate. 

#3. Trading & Investment App 

Seeking app development for investment and trading and launching it on a broad spectrum can make you enjoy the limelight in the marketplace.

Presently, users are showering huge longing to use the platforms that enable them to acquire a comprehensive knowledge of shares, funds, stocks, Forex, and other investment options available. Moreover, they are also cherishing the apps that let them invest in them efficiently.

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Moreover, they are inclined toward the applications that collect investment data from different sources and enable them to calculate the asset valuation and right investment decisions. Don’t you like stock trading and apps like Forex? Take food for thought.

Considering all of these, you would have made up your mind to invest in stock trading and investment app development. Though, you need to have a clear picture of the required budget, as a shortfall in the budget can halt your project. Moreover, you must have complete knowledge of finance and stock before investing. 

#4. Blockchain App

Blockchain has a spectacular impact on fintech, and it is considering a million-dollar technology in the fintech market due to the security and anonymity in transactions. Thus, embracing blockchain for a fintech startup is one of the most admiring finance app ideas. You may also hire blockchain developer who can build fintech apps as per your ideas. 

Undoubtedly, the blockchain app idea is fruitful and success gaining. Wondering how a blockchain app can enable you to target users? Let’s understand. 

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Blockchain-based applications enable users to transfer cryptocurrencies. As a decentralized autonomous system, each user can achieve transparency and abide by programmatically defined rules. 

Funds can be exchanged securely, and transfer traces would be secure. 

Moreover, the blockchain-based app would bring independence in the transaction, and there will be no third-party control to authorize the transaction.

#5. RegTech Apps 

RegTech app is another most admired fintech app idea that is gaining speed fast popularity. 

These applications enable financial companies & institutions to comply with both global and local standards and follow the rules for the right practice in finance. These applications automate major processes of organizations such as customer identity verification, transaction monitoring, report compilation & submission, and more. 

The goal of infusing these apps is to improve customer retention and seek customer satisfaction. Investing in such an app allows you to lead a new foundation of a fintech startup that helps finance organizations in their everyday chores. 

To gain more insight into the concept, you can take help from providers of fintech app development services. 

#6. Financial Advising App 

Who doesn’t need a helping hand when it comes to making precise decisions related to finance & investment? People with little understanding of finance, stock, and trading always seek advisory help to make important decisions. 

That’s why targeting these people by providing them easy access to advisory help over a mobile device is the best finance app idea that you can leverage to kickstart your startup. It is an effective fintech app concept to attract people, especially gen-z and millennials. 

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Being known as a Robo-advising solution, these apps include machine learning. The app analyzes the spending habits of users and income, gives a futuristic view and advice on managing your finances and spending. The infusion of AI/ML technologies makes these apps analyze expenses with regards to the investment of users, calculate tax returns, and cater insights. 

In upcoming years financial advising apps will be greatly popular as finance will completely be automated, and users would need a hold on their expenses and a clear picture of their finance-related activities. 

#7. Banking Apps 

Digital banking is the most primitive and highly invested fintech app idea. Almost every financial institution is striving to have a baking app today to serve their customers better. 

The last few years have been crucial for banking institutions as people are now interacting with banks through mobile phones. They no longer appreciate the idea of visiting banks or ATMs to procure money or transfer money to other people. 

Now people enjoy sending money, opening accounts, deposit, adding beneficiaries, and much more on digital banking platforms, as these platforms allow them to do everything with simple clicks, and they don’t have to wait in line for hours. 

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With the ease of banking, the idea of a banking app has gained momentum in the market as an organization is driven to invest in them. Having an independent banking solution that enables users to do finance activities at ease can help you win this market. Connect with banking software development companies to know more, and give a thought to this financial app idea in 2021. 

#8. Crowdfunding Solution 

It can sound weird to you. However, the fact is crowdfunding is also being digitized and thriving as a crucial fintech startup idea. 

For entrepreneurs, these digital solutions are turning out to be the best alternative for funding and allowing them to raise funds for their business from different individuals, investors, and venture capitals.  There are only a few crowdfunding solutions available right now, including Kickstarter and Indiegogo. 

However, it is predicted that the digital crowdfunding market would surpass $28.8 Billion by 2025, which indicated potential growth & traction. So, you can hire dedicated development team to grab such solutions for your business too. 

#9. Crypto Exchange Platform 

This is the most fruitful and successful app idea for financial startups. The platform helps users to enter the decentralized market of cryptocurrencies and make fund transfers secure & untraceable. But here, cryptocurrency is traded instead of other digital currencies. Transparency, low fees, fast processing, and the highest level of security are the best features of the crypto exchange platform.

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In selecting any of these ideas, startups need to consider a number of important factors such as compliance requirements, fundraising platforms, identifying niche markets, hire cryptocurrency developers from a recognized company, and getting information on competitive challenges and apps. After doing enough research, the startup should consult with a mobile app development company to hire experienced developers.

#10. Digital wallet

As digital wallets prevent users from carrying physical wallets or credit/debit cards, their market is also growing significantly. These applications give users the ability to pay in certain taps or use biometrics while getting back coupons and attractive offers.

The digital wallet market is estimated to reach $ 7,581.91 bn by 2024. Suffice it to tell you why entrepreneurs choose it among the various innovative ideas of apps to enter the financial market.

Final Text 

The Fintech market is blooming at a constant rate. Several fintech startup ideas are emerging and astonishing users. At the same time, these ideas are creating a frenzy among users. But for entrepreneurs, these apps are turning into a success magnet. 

With a wide range of opportunities and benefits to humankind, fintech apps are deepening their roots in the market. Moreover, they are allowing organizations to provide great customer care, satisfaction, and boost trust. If you want to leverage the vibration of growth in the Fintech market, connect with a financial software development company. The right partner can unlock the potential of technology for your startup endeavor, so pick wisely.

The post Uncovering Top 10 Finance App Ideas To Kickstart Your Fintech Startup appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.

You must be thinking, why do companies need DevOps, and why it has become a center of attraction among enterprises. Let’s take a glance at this aspect.

Before that, take a look at some DevOps statistics: 

Every enterprises’ end goal is to provide the absolute best services and features to deliver customers as early as possible. While developing software and managing operations require a huge some time to deliver value to end customers. Due to this, the work field becomes a war field where businesses fight to deliver value to customers.  

Here comes the DevOps. It delivers a great number of benefits to organizations: 

1. Fast Delivery time: The basic principles of DevOps – automatic, continuous delivery, and fast response loop – focus on creating software to improve performance quickly and efficiently. DevOps, an extension of the agile system, uses automation to keep SDLC flowing at ease. By promoting a culture of interaction & greater collaboration, it provides a measure of rapid and continuous responses so that any issues are fixed over time and the release is done quickly.
2. High-level collaboration: Today, more than ever, development teams need to break the branch-office and engage in active communication, 24 hours a day. DevOps paves the way for business development by providing the necessary spirit of collaboration, communication, and integration between the globally distributed teams in IT. Boundaries are set by activities that are transparent in the DevOps stimulus environment. All team members are responsible for meeting the desired features/quality and timing of what will be brought together.
3. Quality customer experience: With DevOps, organizations can increase their frequency by 200x, turnaround time by 24x, and reduce change to error rates by 3x. By adjusting the transmission line, it becomes possible to have the reliability and stability of the application after each new release. If the application works seamlessly in creation, organizations benefit from greater customer satisfaction.
   

   So, do you want to leverage the benefits of DevOps for your organization? If yes, then reach out to the Best DevOps Consulting company & secure an agile solution.

   Considering these aspects, it was decided to implement DevOps into banking solutions and transform the .Net Framework to .NetCore. In this article, we would have a complete case study of this transformation. So, stay tuned with me.

4. Implementing DevOps In Banking Solution & Changing .Net Into. NetCore The product is a banking solution that caters to credit societies and cooperative banks. The application was running slow, and users were facing issues with updates. So, we decided to change the legacy technology and cater to an agile solution with higher scalability. 

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Major Challenges 

The system has got so many loopholes that need to be fixed, and we encountered so many challenges such as: 

• The lack of resources in the test and build environment caused excessively long software builds and test cycles.
• The delivery date was due because of quality and efficiency issues. 
• Our quality team finds a variety of issues, and customer work also caused rapid and inadequate test coverage. 
• The version of the software was unstable, and there were a variety of problems that weren’t detected during the testing phase. 
• Moreover, the migration from .Net Framework to .NetCore and implementation of DevOps solution to increase efficiency, deployment of high-quality code, and scaling the demand.
• Deciding what automated DevOps tool would be best for implementation. 

There were major challenges, and our team had to undergo rigorous research and strategy development to implement DevOps in this software system. But! Our most critical challenge was to decide on an automation tool for deploying DevOps. 

Thus, here we are enumerating some tools that you may find useful in implementing DevOps in your system software.

DevOps Automation Tools That You Must Know 

There is no dearth of DevOps Automation Tools that you can use, but it completely depends on your need for development. Here I am discussing a tool for .net that you can use to implement DevOps. 

1) Azure

The most popular and latest option, availed by Microsoft, is a fully functional integrated DevOps, named Azure Pipelines. It gets plugged in into an existing project with nicety and enables lots of options to use for the teams. Azure pipeline enables you to integrate containerization like Kubernetes. 

It functions for a serverless option, swiftly deployed Azure Web Apps, and severely complex VMs. This tool is a one-stop shop for streamlining the work of .net developers. Azure DevOps service enables you to free CI/CD targets via an Azure Repo or GitHub repo. Moreover, the pricing depends on the number of pipelines or user licenses you need.

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2) Azure Pipelines

Azure Pipelines is the backbone of Azure DevOps that handles the traffic of each offer. It is a major platform and language agnostic and provides orchestration between cloud providers, both AWS and Azure. Basically, the pipeline itself is cloud-hosted, which means you don’t need to download and install anything. 

Pipelines have lots of extensibility and enable you to leverage a good built-in option for integrated reporting and testing. If you have just begun with performing CI/CD in the cloud-hosted world, then the documentation works excellent, and workflow helps you entirely do things right.  

To transform your .Net solution into DevOps, hire .net developers with expertise in Azure & DevOps implementation to exploit DevOps benefits. 

3) Kudu

Sometimes you don’t need a fancy arrangement for your project. For quick projects where I needed constant integration with Azure web apps (formerly Azure websites), I hosted the app; I used the Kudu Service App build server that was connected to my GitHub hosted repository. Azure is a little trivial to set any application service you create directly from the deployment center menu to the Azure UI. 

Kudu monitors your GitHub login and rewrites your code, and converts it to Azure whenever a change occurs. One of the most painful ways to set up a CI / CD quickly is when you need MSBuild to compile your app and deploy your update service. Bonus Works for free – the only paid part is the cost of your Azure App service. It comes on the go and does not require a separate Azure DevOps subscription.

These are major automation tools that you can use to implement DevOps. However, we used various different solutions to implement the solution due to obvious reasons. Now, let’s glance at the implementation of the project into DevOps settings.  

Implementing a solution to the requirement with the following approach

Project Preparation:

• The team integrated the current architecture for optimal continuous integration, continuous testing, continuous deployment, and CCM (Continuous Change Management) operations.
• Demonstrated hierarchical test execution model to automate each lifecycle test step
• Assembled tool framework including Restful API to organize all DevOps operations
• Initial specialist services that support a logical phased implementation plan and a smooth transition from existing infrastructure, minimizing disruption to the existing development, testing, and release process.
• A monitoring solution is implemented that provides the necessary measures to manage the operational performance of DevOps systems for continuous monitoring management (CCM) and continuous improvement.

Solution Implementation:

• To streamline the initial stages, the CloudHedge team began by adding code to source code version control which was a much-needed step.
• Necessary changes to the source code included removing system dependencies (similar to hard-code routes in context).
• Configured source control, information received, and needs analysis using the build system. Srl.
• It has formal design and implementation of microservices.
• It includes a demonstrated baseline validation of building validation, configuration identification, environmental variables, construction installation, and operation for the deployment pipeline and related environments.
• At UAT and Release, the team demonstrated the creative process and implementation of the deployment process, also creating a promotion process.
• We also designed a solution and implemented it to present documents to KYC bank.
• Key migration reports were analyzed and searched for interfaces as well as after-sales services. API migration of the .NET Core is successfully tested.
  

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Benefit

As DevOps develops, there will be more efficiency gains. High-quality implementation with a larger quality code will allow ISVs to deliver more to their customers.

• Improve timely market/delivery times, which improves ROI.
• Better collaboration between teams (business / DevOps).
• DevOps paved the way for improving business agility by promoting a much-needed environment of mutual collaboration, communication, and integration between teams allocated worldwide.
• It is a stable/reliable operating environment.
• It has 60% OpEx, and 50% operating time savings for clients.
• Improve overall security by reducing vulnerabilities
• To increase scalability, we migrated the .Net Framework to .NetCore in a semi-automated way within weeks.

I am sure this explanation would help you get through the nerves of DevOps implementation and figure what challenges can be faced during the processes. If you want to integrate a DevOps-based solution into your business setting, I would recommend you to connect with experienced DevOps developers to secure the best solutions. 

Wrapping Up

Implementing DevOps to your solutions can bring in unmatched agility and efficiency within your works and processes. The above representation of converting a .net solution into DevOps have shown you how crucial the transformation is.

Actually, DevOps-based solutions also make it easy for teams to collaborate in a definite space. Moreover, you can also reduce the cost of manual processes and labor by integrating a full-fledged solution. In today’s world, to implement security & efficiency through DevOps concepts, you must consult with a DevOps engineering & solution company renowned for developing one-of-a-kind solutions. And! For more insights into DevOps, stay hooked with me.

The post Glean Insights Into Implementing DevOps & .Net To A Banking Solution appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.