API In Banking: ClassificationThe usage of Application Programming Interface (API) has become a cornerstone of digital transformation in the ever-changing financial services industry. Understanding their categories is critical for executives, company owners, and engineers to begin leveraging technology to improve their fintech or non-fintech organizations. In 2021, there were 795 million successful API calls performed …
Guide to Financial Data Aggregation and Open BankingThe world of fintech is fast-paced and ever-evolving. One of the current necessities in the business landscape is to collect and integrate data incoming from various sources more efficiently. Financial data aggregation is what should come in assistance here. I’m Vladyslav Slipchenko, a .Net engineer at DashDevs, and I am willing to share my expertise on data aggregators with you. Whether you’re …
A Digital Ledger: How To Transform Your Financial Product With It?As of 2024 and most likely beyond, having a centralized ledger as your primary database and reporting solution is hardly effective. The fintech market is heading towards decentralization and a blockchain-based model of collaboration and asset exchange. And other industries don’t fall behind significantly. So, let’s pay some attention to an alternative solution — a decentralized ledger technology …
Pay by Bank and What You Can Gain from ItHow do payments work in your business? Your customers find what they prefer among your products and services. However, will they find a preferred payment method among your company’s supported methods? Studies show that businesses that offer multiple payment options increase revenue by nearly 30 percent. In turn, companies that accept four or more payment options increase their revenues …
Top 10 Core Banking SolutionsThe business environment favors companies that implement innovations rapidly. As of 2024 and potentially beyond, core banking software is easily one of the most trending digitalization opportunities, promising better revenue and user experience. The core banking software market size has grown from $12.45 billion to $13.63 in 2024, showing a CAGR of 9.5%. While adopting core banking among financial …
BEST FINANCE YOUTUBE CHANNELS IN 2024Days when YouTube was meant solely for entertainment are long gone; now, the platform has numerous uses, one of which is education. For many, YouTube has become a way to get new skills and learn about everyday practices that can drastically simplify everyday life. Top finance YouTube channels are one of those sources of information that can easily help anyone manage their finances and build an …
How Lending as a Service (LaaS) is Enhancing Your Fintech ProductLending as a Service (LaaS) and Enhancing Your Fintech Product Lending as a service, more commonly known as LaaS, is one of those solutions that have all the cards dealt to bring up a digital revolution in finance. Previously, taking a loan was a notorious, rigorous process of endless queues and document verifications. Now, with digitalization, lending can take up from a few moments to a few …
Real-Time Payments Explained: Benefits For BusinessReal-Time Payments Explained: Benefits for Businesses Real-time payments and instant payments have come a long way from being an additional feature to a must-have opportunity that customers from around the world expect to have in the application they use. With clients’ patience cutting shorter, the average payment transaction time is also running shorter. Nowadays, for satisfactory service, banks, …
Top Green Finance Companies — Sustainable Fintech Firms In The WorldAs of 2024 and most certainly beyond, climate change is a global concern, while green finance and sustainable fintech are major trends. Why is it so? Reuters’ study shows that global green finance rose over 100-fold in the period 2012-2022, from $5.2 billion to as much as $540.6 billion. 93.1% of the financing comes from green bonds, meaning that companies increasingly attract investment with the …
Is Biometric Authentication a Revolution in Fintech Security?Biometric authentication is on the rise in 2024, with many digital finance companies and service providers claiming it for their business. For example, according to The Coolest Gadgets, worldwide revenue from the sales of biometric authentication systems reached roughly $15.1 billion in 2023. In this article, I seek to explore what biometric authentication means for fintech businesses in the …
5 Challenges of Digital Transformation in BankingAfter more than a decade, digital transformation in banking remains one of the industry’s most difficult tasks, often giving rise to digital banking problems. Despite the best efforts of the banking industry, digital adoption has been slow because of operational and cultural barriers, difficulties in operation and potential hazards, and the digital transformation risks associated with modernizing …
TOP Wealth Management Platforms 2024: Power Up Your Fintech AppWhat lacks the majority of software product providers is speed. Fintech companies can’t afford to have compromised operational scalability and consumer reach. That’s why it’s possible to observe the growing demand for wealth management platforms used to automate fintech tasks and help handle finances. In 2023, the worldwide market for wealth management software was worth about $4.59 …
What is a Transaction Processing System (TPS): Types and UsagesUsage of online payment methods is on the rise. Back in 2023, the number of cashless transactions worldwide amounted to 1.335 billion. This number reflects the positive tendency among consumers to pay for goods, products, and services online. Such a vast number of payments and, respectively, orders to be processed by businesses makes it necessary to have a system for handling transactional, order, …
Managing Bank Fraud and High-Risk Customers: A-Z GuideModern banks handle a variety of financial transactions. They deal with a huge number of money flows and enormous money volumes. It is no surprise that banks have become prime targets of fraudulent activities. Impressive $10bn loss was reported because of fraud in 2023 with nearly 1 in 5 people affected by the imposter scam. A serious problem for banks is that modern criminals are highly …
6 Benefits of Using Big Data for Businesses: The Ultimate GuideThe digital universe currently contains over 44 zettabytes of data and approximately 2.5 quintillion bytes of data are created every day. The primary advantages of big data are that it provides valuable insights that companies can use to improve their business operations. It is therefore not surprising that the adoption of big data by organizations has increased in recent years. However, big data …
What are Account-To-Account Payments?Running an online business demands constant adaptation to new market trends. Suppose your business involves receiving payments for goods or services. In that case, you’re likely familiar with the challenges linked to traditional bank cards, transferring money, delays, and intermediary service fees. With the age of cash transactions fading, there’s a growing need for a modern and …
Electronic Money Institution vs. Payment InstitutionBack in 2020, The European Commission aimed to improve the way payment processing is handled in Europe. They introduced two directives (legal acts): one about Electronic money and the other about Payment Services. These directives, or ‘rules,’ changed electronic payment competition, especially with the rise of online shopping and digital money. In this post, you’ll discover what Electronic …
Software Outsource vs Product Development: How to select the right collaboration modelWhen it comes to creating an application, businesses have two main options: software product outsourcing or product development services. These models serve different purposes and are used on different types of projects. Below, I provide detailed information about what product development outsourcing and software product development are and how they differ. I also give clear recommendations on …
How to Develop a Secure Neobank Like RevolutDeveloping a neobank upon an existing framework is both a time and cost-effective approach. Yet, it makes an app dependent on the functionality and security protocols the framework has in place. That’s why careful consideration of security measures and comparison of neobanking platforms on the market by this factor is a must. In this post, you’ll discover how to establish fintech mobile app …
Jailbreaking iOS device. Tech approach and how it impacts businessiPhone and iPad users often look for ways to expand the functionality of their devices beyond what Apple allows. In particular, they want to download applications that are not available in the standard App Store and customize the look of their device. Jailbreaking allows them to do this. What is jailbreak? It is the way to gain access to the file system and device manager. As a result, users can …
API In Banking: The Guide to Bank APIsAt a restaurant, you can’t go directly to the kitchen to make an order. You need an intermediary to pass your order to chefs and then bring the prepared food back to you. From a non-technological point of view, an Application Programming Interface (API) is a waiter, the restaurant is a third-party application or platform, and the kitchen is a bank that provides you with financial services. So, API …
How To Create A Digital Wallet in 2024?The global digital payments market is on an upward course, with a projected revenue of $14.79 trillion by 2027. Impressive, right? Also, an impressive two-thirds of adults across the globe are now embracing digital payments, with a striking 89% utilization rate in the United States. As clients and businesses increasingly embrace the convenience, security, and efficiency of digital payments, the …
Plaid’s Legacy In The Fintech Industry: Insights, Value, And SecurityAs of 2024, there are almost 30,000 notable fintech startups worldwide. No wonder that nowadays, launching a fintech startup is one of the lucrative ways to enter the market. While fintech product ideas are many, lots of them involve handling customers’ financial data. If you’re not well-versed in integrating various banking solutions into your future product, you will need an …
KYC: How to Avoid Fraud in Fintech AppNowadays, people can run the world via their mobile phones. We can communicate with friends, perform task management, perform financial operations, order or buy things, etc. Nearly every aspect of our lives is becoming easier and more convenient. However, it is also more susceptible to new types of attacks and fraud. From this perspective, the unstoppable growth of the digital banking system …
Cross-Border Payments VendorsDigital payment has become a common method of transferring finance both domestically and internationally. Cross-border payments allow making purchases worldwide, with no region or currency restrictions, and more and more businesses have started to include cross-border online payments in their fintech or other digital products. To reveal the increasing popularity of digital cross-border payment, …
Cybersecurity in Banking: Main Threats and Challenges in 2024The banking industry, like any other, has now been progressively moving into the technological era. The days of physically going to your neighborhood bank to cash or deposit checks are long gone. Hence data security in banking industry is an essential topic today since almost any transaction can be completed online via the bank’s application or website. According to the survey of the year …
How Long Does It Take to Develop Fintech App?Back in 2023, the total revenue of the fintech industry was estimated at $79.38 billion, with the prospect of multiplying nearly twofold by 2028. As of 2024, there are more than 13,000 fintech startups in the US alone, nearly 11,000 in the EMEA region, and about 5,900 in the Asia Pacific region, and these numbers continue to grow because more entrepreneurs see a promising opportunity in developing …
Top Priorities for Finance Leaders 2024Much discussion has concerned the chief financial officer’s (CFO) evolving function and duties. There is a lot for advanced finance leaders to deal with, from social and regulatory efficiency to personnel management. If you’re a CFO who needs help figuring out where to begin or a C-suite executive who wants to assist your finance executives in easing into their new positions, here’s a useful guide …
Five Trends That Will Reshape Wealth Management in 2024The success of the wealth management sector is based on direct human contact. When dealing with high-net-worth clients, wealth managers must go beyond basic financial knowledge to truly empathize with their client’s unique situations and goals. To keep pace with today’s world, wealth managers need to embrace innovative technologies and concepts that foster personal connections. Over the past few …
Robotic Process Automation For The Financial Services IndustryAre you constantly on the lookout for new tools to improve business operations? Robotic Process Automation (RPA) could be the technology you’ve been missing out on. A study shows that 98% of IT leaders believe automating business processes is necessary for getting industry advantages. And this is true because RPA for finance can reduce labor-intensive tasks by up to 80%. Finance RPA includes …
Embedded Finance Vs. Traditional Distribution of Financial ServicesWhether you’re a fintech or a non-fintech business owner, you cannot overlook the rapid integration of banking services into platforms, services, and products from other industries. It’s commonly known as embedded finance. The size of the embedded finance market in 2023 is estimated at 66.3 billion U.S. dollars and was forecast to grow at a CAGR of 16.5% over the next decade. It can be stated that …
What is Green Fintech and How It Relates to Sustainable DevelopmentAccording to recent data from Global Market Estimates, the global green fintech market is expected to increase by 22.4% annually from 2024 to 2029. A mix of technology and finance, which is called green fintech, helps the planet and promotes sustainability. Before we explore this topic, let me introduce myself. I’m a software engineer with six years of experience. I lead the Node.js …
Payment Tokenization: How Does Tokenization WorkPayment processing is integral to the entire business operation. Over the last few years, businesses worldwide have lost over $33.4 billion due to financial fraud. With the increase in the number of fraud methods and cases, it’s becoming more and more important to secure funds and sensitive billing details from being stolen. In this post, you’ll discover fundamental aspects of tokenization, learn …
Trends 2024: Financial Services Industry OverviewThe adoption of digital technologies in financial services is gaining momentum. The convergence of customer demands, technological advances, and government choices will significantly impact the direction of the financial industry market trends in 2024. The financial services market is projected to grow from $25,848 billion in 2022 to $37,484 billion in 2027 at a CAGR of 7.5%. The pace at which the …
Finovate Europe 2024: Fintech Event OverviewFinovate Europe 2024, a dynamic fintech conference London, on February 27th and 28th, brought together key financial industry players. Over two days, attendees gathered to explore the latest innovations shaping the future of finance. With its reputation as Europe’s premier fintech conference, the event attracts industry leaders, visionaries, and disruptors from around the globe. From …
Best Backend Technologies For Fintech Development ProjectThe fintech industry is booming, with more than $50 billion invested back in 2023. About 1,500 new fintech companies appear annually in the US only and many of them have some form of a software product as their main or complementary offering. Consequently, it’s crucial for senior executives and engineers to have a solid grasp of backend technologies essential for crafting software solutions. …
Tips to Choose the Right Software Development Agency for Your ProjectDeveloping a digital product demands careful selection of the right partner. While it may seem simple to search for a “software development agency near me” and gauge its suitability based on its website and past projects, the reality often calls for a more cautious approach. Proper preparation is critical to find an agency software development that fits your needs. Don’t overlook …
What is Marqeta? Everything You Wanted to Know About Marqeta Inc.So many talks have been recently heard about Marqeta Inc. and what it exactly does, and that’s already happening a decade after its appearance in the finance industry and the market. So, we’ve decided to develop a condensed version of the company’s origin, services, pricing, clients, values, and plans. All of this is gathered below for you to get this topic straight and have no questions anymore. …
How Behavioral Finance & Customer Experience Drive Fintech in 2024?Understanding behavioral finance gives fintech companies a competitive edge! How do they do it? By using customer feedback and applying the most effective customer experience techniques. We’re all driven by emotions, especially when it comes to money. Just like you, I enjoy seeing my card balance grow and feel uneasy when it falls. But beyond the numbers, what really connects us with banking …
Payment Processor vs Payment GatewayIn the modern day, cashless payments increasingly gain usage due to their convenience. Potentially, all businesses, both digital and offline, are expected to offer ways to pay for their goods and services online. Since this option requires an established online payment flow with a payment processor and a payment gateway involved, it’s critical to learn the basics about these solutions. In 2022, …
The Ultimate Guide To Fintech Development Outsourcing: How To Make It WorkFintech is one of the most promising and ambitious branches nowadays, so it shifts from being a short-term trend to a prominent market segment. Back in 2022, the number of active fintech unicorns reached 312, showing a dramatic increase. At the same time, as of May 2023, there were 11,651 fintech startups in the US only. The global IT services outsourcing market was estimated at about $525 billion …
15 Types of Digital WalletsBusinesses from different domains are increasingly digitalizing. With the realization that having a custom app can be beneficial to nearly any company in one way or another, the usefulness of digital wallets also becomes obvious. With a high penetration rate of 49% and bringing more than half of the total value of online payments worldwide, digital wallets are becoming a dominant method of …
How to Build a Digital Bank?Wondering how to build a digital bank but feeling stressed about funding shortages and unsure where to start? Don’t worry! We live in the 21st century, where new solutions for your challenges always pop up, especially in fintech. You can choose custom development or build bank with a white label financial services. There is no need to fret about the approach — I’ll put all the details …
AI in Banking: Use CasesAI recognition in finance started in 1980 already, but it became a strong trend relatively recently. Undoubtedly, AI already infiltrated most business spheres. But how can you, as a digital bank owner, executive, or an individual planning a neobank startup, put it to good use before competitors will? Well, for starters, let’s embrace the fact that 35% of companies already take advantage of AI, and …
A Guide to Integrating ML into Fintech Business: Cases and ApplicationsInnovative AI and ML technologies disrupt conventional fintech and raise additional challenges and opportunities for businesses in this niche. Business owners are now naturally curious about how they utilize machine learning in finance to their company’s benefit, and whether ML can offer a good return on every dollar invested in it. McKinsey’s report shows that about 55% of businesses …
Mastering Mobile Banking App Development: Complete GuideCustomers used to have to physically visit a bank during business hours to perform even the most basic banking tasks. Now, they can benefit from convenient mobile banking apps. The decision will naturally be based on how well the mobile app meets their needs. More than 69% of banked households use mobile banking services as their primary method to access bank accounts. This means that mobile …
Beyond Traditional Methods: Using Machine Learning Against Financial FraudIn the modern day, financial fraud is incredibly widespread. While customers are at risk of being scammed, businesses that fail to establish fraud detection and prevention systems risk their reputation and can be subject to penalties, and in some cases, C-level of companies can be criminally liable. Statistics reveal that business losses because of online payment fraud were estimated at $48 …
ISO 20022: Transforming the Financial Industry with Standardized MessagingThe adoption of ISO 20022 brings to mind the tale of the Tower of Babel, but with a twist — instead of confusion, it’s about creating a unified language. No matter how brilliant your idea, years of effort can go to waste if your team communicates in different languages, just like people in Babel. However, imagine a scenario where everyone communicates in the same language and understands …
Top 10 Payment Processor Vendors in 2024In the modern world of digital technologies, web stores, and online payments, the role of payment processing vendors is significant. Such service providers handle various forms of electronic payments, including credit and debit card transactions, offering secure and efficient processing services. The transaction value in the digital processing market is projected to reach $11.55 trillion in 2024, …
Leading Banking Software Development Vendors of 2024Nowadays, it’s nearly impossible to imagine life without finance, apps, and software.The software development market is projected to achieve a value of $1039 million by the year 2027, demonstrating a Compound Annual Growth Rate (CAGR) of $22.54% from 2020 to 2027. What’s even more intriguing is McKinsey’s research indicating that the fintech industry is anticipated to grow …
PSD3 vs PSD2 Regulations: What New EU Directive Means for Payment SectorProposed back in 2015, PSD2 established ground rules for the payments industry. It introduced open banking and enabled third-party providers to collaborate effectively with traditional financial institutions. Nowadays, Most everyday transaction processing, provision ‘of banking services, and operation of fintech businesses in the EU and beyond it boards rely upon the provided PSD2 concepts. …
DashDevs Acquires ITOMYCH STUDIO, Expanding Its Global Footprint in the Fintech IndustryIn a significant move that marks a new chapter in the fintech sector, DashDevs LLC, an international software development company with offices in the USA, UK, and Europe, has announced its acquisition of the Ukrainian outsourcing company ITOMYCH STUDIO. This strategic merger brings together two formidable forces in the technology sector, set to revolutionize fintech innovation and market presence …
Choosing Your BaaS Provider: A Comprehensive ChecklistFor many, finding the perfect match between their business needs and a BaaS provider to cover them can be daunting. Not only does it require putting substantial effort into market research, but it also necessitates scoring providers and comparing information about them and their offerings against a list of criteria. In this post, we’ll delve into the Banking-as-a-Service model that enables the …
AI-Powered Decisions: Transforming Risk Management in FinanceIn the finance sector, continuous risk management is vital for stability and safety. The integration of AI in this domain, particularly in Know Your Customer (KYC) solutions, marks a significant shift. AI-driven approaches in risk management processes can significantly reduce false positives and compliance check times, enhancing efficiency and cutting costs. The Identity Verification (DIVE) Market …
ClearBank API Integration: Benefits for Business and Step-by-Step GuideImagine an architect who is ambitious to build an extraordinary skyscraper. This building is planned to provide exceptional experiences for its inhabitants, the first of its kind. The architect sees a clear picture of how to build cozy apartments, the fascinating cafes, and the garden on the roof, which will provide a unique value to people. But here is the thing. Building such a skyscraper …
The 11 Key Trends in Banking to Follow in 2024As the technology in payment processing and banking evolves, the sector is witnessing a significant shift towards digital transformation. As such, consumer digital payment processing grew by over 50% during the year 2022, indicating a marked transition towards digital transactions. Over the same period, the private debt saw a significant growth of 29% in 2022, illustrating a shift away from …
UK Banks: Peculiarities of Opening Your Own BankThe UK, and London in particular, is a coveted financial hub in the world, which explains why so many fintech startups continue to appear in this very geo. This also refers to banks, lending institutions, credit unions, and other financial firms that have a way with numbers and technologies. As a result, at the beginning of 2023, the investment into the sector poured significant amounts of money …
Cross Border Payments and Money ExchangeIs it possible to run an international business without conducting or receiving cross-border transactions? The short answer is no. Internation payments enable the interconnectedness of the global economy and play a critical role in seamless financial integration. So, as a global business or a business aiming to reach the global level, you should have reliable means to conduct and receive …
Best 12 Finance API Companies in 2024Application Programming Interfaces (APIs) are software solutions that enable data transfer between different applications and platforms. They act as frameworks allowing computers to communicate, enabling extensive data exchange. The API management market is valued at $5.1 billion as of 2023, there are more than 24,000 public APIs, and more than 90% of developers use APIs in their work. So, the …
Top 10 Fintech InnovationsBy 2026, the fintech services market will grow to $31.5 billion. This is roughly four times what it was six years ago. Many fintech companies and seasoned professionals will remain innovative in these and other areas in 2024, so financial services businesses should closely monitor IT innovations in fintech. In this article, I focus exclusively on what our team believes to be the trendiest fintech …
KYC: Fraud Detection In Fintech AppDespite tons of innovative security measures, fintech companies always face different types of fraud. From April to June in 2023, investment fraud emerged as the most financially impactful compared to other cyber crimes, resulting in losses of £135.2 million. Can you imagine your business losing tons of money just in one wrong click? Unfortunately, it happens every day. On average, fintech …
New Fintech Regulations in the UKAre you starting your own fintech business in the UK but getting tangled in the web of ever-changing rules and regulations? It’s always a dark forest for everyone who wants to step into this field, and I’m here to guide you through it. As a CEO with over 15 years of experience and a fintech expert who helped launch over 20 fintech products, I will try to gain your trust and demonstrate that …
How to Create Fintech App For Gen Z | DashDevsGeneration Z’s financial preferences are swiftly veering away from traditional modes of payment, embracing innovative alternatives such as Buy-Now-Pay-Later solutions, digital wallets, and cryptocurrencies. The following statistics scream: “Today is the best time to create a fintech application that aligns with Gen Z needs!” A significant part of Gen Z, estimated between 50-80%, …
SCRUM Methodology in Fintech DevelopmentHave you ever had an idea of creating a fintech product but stopped at the planning stage? You might have asked yourself: “Where do I begin?” “How do I manage my time?” “Who must I bring on board to make this happen?” “Do I need a team, or can I do it alone?” “What if things don’t go as planned?” “What if my idea fails?” …
Mastering Fintech: Key Steps to Build a Successful CompanyFrom my experience, and based on the open statistics, around 75% of consumers today actively use fintech products like banking apps. No wonder they have high expectations for the services they get. In that regard, most financial institutions recognize that digitization is critical to their long-term prosperity. As I could notice, they intend to automate financial operations and make them more …
Monzo Changes British Digital Banking With New Investments FeatureMonzo, valued at $4.5 billion in a bold move within British digital banking, has presented a groundbreaking investment feature. This development is a significant milestone for Monzo and the broader financial technology sector. In this article, we go through the details of Monzo’s new offering, what it means for clients, and how it aims to reshape the landscape of digital banking. How Does …
Everything You Need To Know About Integrations With Open Banking ProvidersYou are about to build a fintech app, but you need to ensure it solves actual customer problems and stays competitive in the market. So what do you do? The answer is to explore open banking integration for your product or service. This will give you access to vast swathes of customer data for better personalization. In recent years, open banking regulations have made it possible and lucrative for …
How Banks Lost Customers by Failing to Keep Up with the TimesThe digitization of banking services has transformed how customers manage their finances and interact with financial institutions, leading to a significant shift in the banking industry. The convenience, accessibility, and efficiency of digital interactions have raised customer expectations, pushing banks towards a new horizon. However, traditional banks need help safeguarding their clientele …
The Role of Business Analyst in Product LaunchHow can you craft a genuinely successful product in an industry evolving at lightning speed? With fintech on the rise, the financial services landscape has undergone a profound shift. By leveraging technology, fintech breathes new life into traditional financial services, triggering a rapid transformation. In this dynamic era, digital-first companies are boldly challenging the established norms of …
Top 10 Fintech Digital Companies as Alternatives for the Marqeta Card Issuing PlatformWith today’s neobanks and challenger banks boom, suddenly, everyone realized that cards are manufactured somewhere, and there is more than one card issuing company. Second, to your application, your card is your company’s face, so it should be as qualitative and beautiful as your business in the eyes of your clients. And, of course, it shouldn’t cost you too much. Consequently, trying to meet the …
Fintech Compliance in MENA: Navigating Regulations and RequirementsAs a fintech expert and CEO of DashDevs, I understand that the Middle East and North Africa (MENA) region has experienced significant growth in the fintech sector and economic development. The fintech industry in this region is gaining momentum. An increasing number of startups and established firms offer innovative financial solutions. However, with innovation comes regulation. Fintech companies …
Downing: a Story of Success from an Investment Management PlatformThe Downing investment platform is one of the most exciting projects DashDevs completed. At the time, it was a real challenge, and once we launched it, we’ve seen how good the results came out. Projects of this kind always motivate, bringing collateral value to our work as we see how our customers succeed with the platform. So, this is a story of Downing from A to Z, how we started working …
How to Shape a Business Idea and Make It WorkCreating a successful business requires more than just a great idea – it requires shaping business ideas, seeking funding, and executing a solid plan. This article is designed to help you explore the concept of business ideas, how to shape them, and how to transform the idea into a workable concept for seeking funding. Whether you’re just starting out or have been working on your idea for a …
Fintech Nexus USA 2023 Conference: Insights and Takeaways for the Finance Digital WorldWelcome to the dynamic world of fintech, where innovation and adaptation are the keys to success. Today I want to share with you the latest news from the highly anticipated Fintech Nexus USA 2023 Conference, an event that brought together the brightest minds and industry leaders to explore the current state and future trajectory of fintech. As finance professionals, you have to pay attention to …
Digital Transformation in Banks: What Processes are ImportantDigital transformation has had a significant impact on how banks function and interact with their customers. From my expert experience in the fintech industry, I have observed that this transformation is set to continue and become even more personalized in the future. Traditional banking systems are outdated and time-consuming, requiring significant manpower. This inefficiency highlights the need …
Weathering the Storm: How the Climate Change Impacts on the Financial IndustryClimate change is no longer a distant threat but a reality. It is already affecting the global economy, including the financial industry. The scientific evidence shows that human activities, such as burning fossil fuels, deforestation, and industrial processes, are causing the Earth’s temperature to rise at an unprecedented rate. In the graph below, you can see how global temperature …
How to Unlock the Future of Financial Services with Decentralized Identity (DID)Our lives become increasingly digital. We often need to verify our identities for various activities: buying a car, applying for a mortgage, or signing up for new services. However, the current methods of authenticating users and establishing trust online are inconvenient and burdensome for both users and businesses. These methods also compromise users’ privacy. The security and trust of …
Decentralized Finance: The Future of Financial Services?Decentralized finance (DeFi) is an innovative and growing sector within the financial industry. It leverages the power of blockchain technology and smart contracts. This makes financial services decentralized, transparent, and accessible to anyone. Traditional financial systems continue to face challenges, such as lack of access and high fees. DeFi has emerged as a viable alternative. It offers …
Fintech Model Options for Business: A Comprehensive GuideThe fintech business model is a pillar of how your business works and moves towards its goals. This detailed strategy identifies how to gain more revenue, enhance productivity, and increase the profits. Fintech business models are important for both fintech startups and established businesses. For the latter, regular check-ups and updates can make your company future proof. Since business strategy …
The Future of Micro-Investments Platforms: Challenges, Opportunities and Use CasesMicro-investing has been gaining popularity in recent years as a way to invest small amounts of money regularly. These platforms have the potential to revolutionize the investment landscape by providing affordable and accessible investment options to a wider audience. In this article, I will cover the latest trends and developments in the industry. We’ll discuss the importance of user …
5 fintech startups & scale-ups in the UKIn this day and age, information technologies and current financial apps rule our lives as well as our finances. FinTech startups and scaleups are in great demand due to their rich background in investment management and financial advancements. The largest fintech companies and top scale ups focus on providing software services, and many of them are now considered roughly similar to banks, if not …
Banking and Cybersecurity: How to Avoid Threats?The rise of digital banking has brought many benefits to the banking and financial industry, including convenience, speed, and increased accessibility to financial services. However, it has also increased the risk of cybersecurity threats for banks and their customers. With the increasing sophistication and frequency of cyber attacks, it is more important than ever for banks to prioritize …
Ten Technologies Shaping the Future of Fintech in 2024The future of fintech sector is concentrated around creating innovative approaches and technology. Industry trends are shifting with the myriad socioeconomic and political elements. These factors impact markets and the worldwide financial business. So the sector is always developing. Every year, we see the emergence of new fintech solutions. There is also the evolution and refinement of …
Fintech vs Traditional Banks: Competition or Collaboration?Fintechs reshape the banking industry as people become more accustomed to the comfort of having everything under one’s fingertips. New digital banking solutions allow people to get the same services as from traditional institutions but enhanced with personal advice, customized recommendations, gamification, and other fresh ideas. Neobanks are vastly spreading across the industry, present in most …
Data-driven banking: How it will Define the Future of the IndustryData-driven banking has the potential to revolutionize the banking sector by allowing financial organizations to make decisions based on reliable, precise data. Banks can gain insights into customer behavior and preferences by harnessing data analytics and using the knowledge to customize services and products to their customers’ needs. This could result in increased consumer satisfaction …
10 Market Factors IT Businesses Shouldn't Ignore for 20242022 was undoubtedly one of the hardest years for the global economy, making the investment options for business owners even more narrow. The world’s stock market is transforming with the food, finance, and fuel crisis along with remnants of COVID-19 aftermaths. The Fintech industry, for example, is undergoing an investment falter with optimistic forecasts that the situation will bounce back …
A Future-Proof Digital Banking: Steps To SuccessDo you remember the last time you had to go to an offline, traditional bank office? Nowadays, everything can be done with a few clicks of your fingers, whether a money transfer or paying your bills. Banking buildings are not so crowded anymore since the growing number of digital banks prevailed. The coronavirus crisis in 2020 pushed the industry towards a rapid digital transformation that did not …
Catching Up With Financial Regulation: Regtech Solutions for BanksOver the past several years, banks and financial institutions (FIs) all over the world have either partnered with or launched their own fintech companies to be applied to various business areas. Such an approach has already improved the lives of millions by promoting financial inclusion and integrating digital services into the everyday routine. Meanwhile, most solutions used to focus on …
Data Science Use Cases in the Fintech IndustryData Science has become a hype technology in the modern world and has created 20 much buzzes in all industries. It combines statistics, mathematics, data analysis, machine learning, and visualization to extract insights from all the big data fintech industry companies obtain. The research results are used for the product and process improvements of the business. Data Science becomes accessible for …
Nine CFOs and the Digital ImperativesEven before the covid-19 pandemic started, I was convincing businesses to adapt their digitization strategies. Companies focused on the future continue to develop and invest in their own destiny despite the economic downturn and have a much better chance of surviving and thriving. Those who cut costs and curl up into a fetal position are doomed to fail. It’s time to “prove …
Dozens: from an Idea to the Digital Financial Institution in 9 MonthsHave you ever thought about launching a successful digital product? Dreaming of a brilliant idea that would change the world, attract followers, and enhance global consciousness. We are constantly reading all those stories of success, newly established unicorns, and “from-zero-to-hero” cases. From the stories mentioned, the process of digital product creation seems to be quite easy for everyone. …
Best Practices for Account Verification ProcedureIn the face of fintech software development practice, account and identity are almost the same. Related institutions empowered to monitor banking activities don’t recognize individuals or organizations—they process transactions. However, before validating any notable digital movement, they need to verify your identity. Fortunately, present-day banking operations are easier to perform with the help …
Software Development for Fintech in 2024: In-house vs OutstaffWhen you start a fintech development company, there are some prevailing ways to run a business, depending on your goals and objectives. A business may be grown by hiring IT experts in-house or by partnering with a fintech software development company to do all the tech jobs for you. In addition, the consulting model can give your company a wide range of creative abilities in the field of fintech. …
TOP 7 Fintech Industry Trends in 2024The financial industry has rather responded to the disruptive side effects of COVID-19, but it hasn’t come out of 2021 unharmed. Top fintech industry trends in 2023 are going to challenge it but also will make it stronger. And though at least 50% of traditional banks are not covering their cost of equity, there is some good news, too. Global fintech investments in 2021 recorded 210 billion dollars …
Digital Transformation Technology Trends in 2023Nobody could have predicted the digital transformation trends that the world will now navigate in the early 2020s. When the pandemic hit, the urgency of digital transformation activities increased dramatically. Organizations of all sizes and across all industries have had to invest in cutting-edge, collaborative technology to stay competitive. The price tag was an unpleasant awakening for …
The Growth Of Banking Software Development: Building Banking Software Of The Future TodayUp until more recently, traditional banks and reputable financial institutions were the only way for individuals to gain access to any type of financial service, whether payments, transfers, or loans. Monopoly and a lack of relentless competition almost completely excluded terms like “value-added” or “custom banking software development services” from the typical banking practice. Fintech firms …
Best Mobile Banking App in 2024Apps for mobile banking have progressed a lot. Digital check deposit was formerly thought to be cutting-edge technology. Consumers of each best banking app in 2022 have learned to anticipate this type of capability, as well as quick transfers of money, bill pay, ATM locators, and other features. Some applications now allow you to track accounts from various banks. What factors are most essential …
How Much Does It Cost to Build a Fintech App?How much is the cost to build a fintech app? It’s a profound inquiry, but one for which there is no cookie-cutter response. Time and developers’ wages are the two most important variables. The time involved is proportional to the platform, the features’ complexity, and the server architecture needs. Budget for the development heavily depends on the previous experience and how much your …
Top Frontend Technologies for Fintech Development ProjectPeople all around the world rely on the internet from the time they get up until they go to sleep, and these are only a blip on the radar. There is a big innovation surge in the area, and frontend web development technologies are at the leading edge. In 2022, we anticipate an exponential rise in fintech solutions. Given the significance of social distance and growing safety concerns, current and …
How to Hire a Fintech Developer?Every niche has its own specifics, and sometimes it requires special types of employees. Because fintech is so specific, it’s important to find programmers who know what they’re doing. Keep reading our article if you want to know how to put together a good fintech team and what to keep in mind during the search. What is a Fintech Developer? Fintech is short for “financial …
TOP 10 QUESTIONS TO ASK A FINANCIAL ADVISOR IN FIRST MEETING?You may be a business owner wanting to deploy a digital solution, or you could be an individual who has previously taken the risk of developing a financial product on your own and lost a significant amount of money as a result. In any case, our team is here to make sure you pick a financial advisor who will undoubtedly help you win, save, and earn. These are financial management specialists, often …
Fintech Regulation: Guide to Financial Regulation for Fintech Entrepreneurs in the USThe fintech regulation in the US is extremely complex. While the United States does not currently have a “fintech-specific” regulatory framework in place, the activities of fintech businesses will very certainly come within the jurisdiction of many regulators, requiring registration with and compliance with at least one of those agencies. The situation is made more difficult by the …
The Difference Between Outsourced Software Development and Outsourced ConsultingWhat is the most effective strategy for running a business? This question is asked by every business owner, and the answer may vary from time to time since business objectives change. When it comes to employing a technical team, we’ve already identified two options: hiring in-house or outstuffing. An IT department may be more cost-effectively run in-house rather than outsourced. Despite …
Software Development for Fintech: In-house or Outstaff?When you start a fintech company, there are some prevailing ways to run a business, depending on your goals and objectives. A business may be grown by hiring IT experts in-house or by partnering with a company to do all the tech jobs for you. In addition, the consulting model may be able to give your company a wide range of creative abilities in the field of fintech. 4 Prevalent Business …
Ways to Secure Funding for a Fintech StartupNowadays, there are a plethora of options on how to launch a fintech startup and supply it not only with a starting capital but also long-term financial support. Getting six-figure funding for a worthy project is a goal descended from the seventh heaven to a more down-to-earth realm. Now you don’t need to work with your head in the clouds anymore! The recipe is relatively simple. Let a good …
How to Track Your Return on Investment: Key Analytics Tools to TrySimply put, ROI, or return on investment, is the foothold in your predictive analysis of the investment consequences. This metric, or to be exact, the percentage rate, allows evaluating the efficiency of the intended investment in different business realms and assets. That’s why it possesses the universal character of usage and is easily understood by different specialists coming from …
Tokenization vs. Encryption: Pros and Cons in Payments ProcessingWhat if we picture our world as a place where all the input data on any device flows through fiber-optic cables and servers in its original form? Although the roots of encryption reach Ancient Egypt of about 1900 BCE, its digital variant emerges on a par with first computers. Already in 1977, the U.S. National Bureau of Standards approved the first encryption standard. By the way, it has already …
AI & ML Usage by Developed Countries: Cases to Learn-(copy)The state of things with artificial intelligence implementation is positive only in developed countries. Here, investing is available, and it’s purposefully spent on testing the new innovative technologies. The US, Europe, and China share the lead in this battle for high-tech business solutions and market expansion. In the end, due to their common efforts, the popularity of machine learning …
One More DashDevs Digest to Hype Up Your Interest!Are you dying to find out the freshest fintech news of the passing July? Would you like to become a pro in fintech and second-guess the banking changes before they actually happen? No need for having a gift of clairvoyance! Just stay with us, and we’ll teach you all the magic! Breaking Crypto News of the Week: 07.26 - 07.30 Eesti Pank Has Found the Solution for Blockchain Issues! The …
Make an Education Pause with the New DashDevs DigestThis week — 07.19 - 07.23 — was intense and chaotic in terms of data violation attacks and their implications for the whole world. And all this only proves that practice is the mother of tuition — your vast fintech and banking intelligence is the key to defense! Don’t allow the perpetrators to fool you and come in the guns blazing! Fresh Cyber Crimes or Read to Know Your Enemy Hungary and …
Don't Restrain Your Compulsion to Read the Fresh DashDevs DigestWhat are you up to right now? Can it wait for a while? Put your things away for a moment and get into the fresh fintech news to enliven your Friday evening! We’ll feed you only with the best material, so get ready to chew and swallow the special! A Little Glimpse of the Global Fintech Trends Cryptocurrency Becomes the New Money Laundering Scheme in the UK In the world of digitalized …
Here Goes Another Groundbreaking DashDevs Digest!The Devil is in the details, isn’t he? Go straight to the fintech details of this week with the help of the DashDevs team and enjoy your Friday evening to the full! New banking merges, countries’ and companies’ remarkable liftovers, and more than that are waiting for you below. Weekly Heads Up on Finance: 07.05 - 07.09 The Swiss Are Still Paying by Cash: Can You Believe It? …
Anything New in Fintech? — Stay in Tune with the DashDevs Digest!This week, 06.28 - 07.02, isn’t primarily about June’s ending but more about tech- and finance-related milestones. Are you a lover of different professional conferences and festivals? Then this news digest will be your cup of tea! Without any more digression, let’s dive into the fintech events of this week with gusto! Weekly Tech & BaaS News VivaTech 2021: What’s It All …
Spend Your Friday Evening with the Dashdevs Digest: 06.21 - 06.25Do you keep your finger on the pulse of the latest banking and investment news? Are you familiar with the fresh changes in the crypto niche? And finally — would you like to be informed about all this stuff? If yes, our Dashdevs hot news selection is what you need! Without further ado, let’s cut to the chase! Investment Questions to Answer with DashDevs $60m on the New ETF-based Hedge Fund …
Most Inspiring TED Talks Insights Into App DevelopmentAre you a big fan of TED media? Or have you ever watched at least one episode of the TED Conferences? Whatever your regularity to this global community is, you’ve definitely heard about this platform, right? However, familiarity is rarely equated with the usage to the max. That’s why we’re here for you! Let Dashdevs share with you a few incredible cases of app development within the last 3 years. …
The Inside of Various Pension SystemsDo you know which country can be proud of the first pension system’s appearance? Any guesses then? It’s Germany! To be exact, this is the achievement of Otto von Bismarck who made efforts to establish the state social welfare system at the end of the 19th century. Being guided by the intention to defeat socialists, he worked out the first modern social security system consisting of healthcare, …
The Freshest DashDevs Digest Brings You the News: 05.24 - 05.28The fintech sphere is always characterized by incredible breakthroughs and painful downfalls. That’s what our digest is about! We invite you to a safe trip around the startups’ progress, banking innovations, and some risky ventures to look at and learn from. Can’t wait to read the latest news? Let’s do it! End of May Banking & Investment Breakout The Goldman Sachs Group Considers Ethereum …
Solutions To Key Fintech Development Challenges From A Proven VendorSo, we’ve been in the market of fintech development and fintech development outsourcing for more than 10 years. With more than 30 projects under our belt, we can say two things for sure. One, every single one of our projects was a truly unique experience. Be it the need to reduce the weight of 120+ gig verification networks to fit inside a mobile app, or inventing innovative user interface …
The Long-Lasting Coronavirus Impact on Economy or Thoughts on the Business Change Amid COVID19So where are we six months or a year from now? What does the future hold for us, our clients and partners, and friends? After a call with a business prospect, I sit in my chair in the empty office. All the employees are working from home, and we’re rather lucky since nearly all of our clients are digital, and indeed most of them are in entertainment, online banking, fintech, and health & …
Stripe Issuing and Why You Should Care About New Credit Card IssuerAs most of the world is on lockdown trying to prevent further spread of COVID-19, it’s hardly surprising that people are massively turning to the Internet to buy what they need. New circumstances make some goods categories reach new heights. For instance, US sales of baking mixes increased by 489%, nail polish - 335%, hair coloring - 310%, and chocolate - 298%, as compared to the same period …
The Rise of PPaaS: Preparing for the Next Wave of Fintech DisruptionThe financial services industry is continuously undergoing dramatic changes in response to regulatory updates, emerging technologies, and operating models. The boom of banking-as-a-service, with its innovative approach to delivering banking products, is a case in point. The PaaS (payment as a service) fintech platform providers enable their partners — which may include insurers, fintech, telecoms, …
Introduction to Insurtech: Business Models, Challenges, TrendsInsurance is one of the most conservative industries, so it comes as no surprise that it has been slow in adopting innovation. However, just as fintechs are shaking up the banking and financial services industry, insurtech companies are starting to disturb the insurance world. Today around 86 percent of insurers believe they should innovate at a rapid-fire pace to keep up with increasing demands …
The Growth of Banking Software as a Service and the Pi1 CaseUp until more recently, traditional banks and reputable financial institutions were the only way for individuals to gain access to any type of financial services, either payments, transfers, or loans. Monopoly and lack of relentless competition almost completely excluded the terms like ‘value-added’ or ‘customer-focused’ from the typical banking practice. Fintech firms and …
The Internet of Payments and Benefits of IoT in Financial ServicesFrom smart speakers, wearables, and refrigerators to self-driving cars, connected homes, and smart cities — internet connectivity continually pushes back the limits and wins new markets. It can be reasonably called the next stage of the digital revolution, and it is expected to transform our lives significantly. Gartner foresees that there will be over 25 billion Internet of Things solutions in …
Dashdevs Fintech Autumn 2019: NOAH Conference, FinTECHTalents, and Project Imagine DebutThe whole 2019 year was very dynamic and fascinating for the DashDevs team, and this autumn was no exception. In October and November, our CEO, Igor Tomych, and VP of Business Development Departments, Yuriy Soshenko, visited two significant events in the UK — NOAH 2019 Conference and the Ultimate Global Fintech Festival FinTECHTalents 2019. Both conferences took place in London and brought a lot …
Dozens App Story: Becoming a Top Fintech App in One YearA year has passed since the release of Dozens app to the stores. Now, this fintech application has over 20k of real registered users who are the owners of beautiful yellow and grey debit cards. Dashdevs, as a technology partner, and I, as a digital product owner, have been working on this application from the very first day. My first task was to conduct marketing research, define competitors, and …
15,000 of Dozens App UsersI love to develop digital products. It is the most exciting activity for me, at least by now. Moreover, it is not only my passion. My team always puts their hearts and souls into our work. From the beginning of the 2018 year, Dozens had become my ruling passion. It is not just a new challenger in the UK market, it is a personal guide to fintech offering users a unique journey from spenders to …
Dozens App Results: Top 10 UK Banking Apps Application for July 2019We love to develop mobile solutions. It’s not another marketing slogan for us. Dashdevs team has the heart set on the idea of creating top-notch digital products, and we hire people who understand our passion and share it. Creating a mobile application starts with a recognition of the problems that we want to solve, followed by a few rounds of the design, development, re-thinking, re-designing, …
What Digital Product Startups Are Recklessly MissingThe moment an idea sneaks in the startuppers’ head, it occupies every free space it can. One doesn’t want to evaluate it. One just wants to deliver it on. The entrepreneurs who are led by such a vision are great. They can find thousands of ways to release it. Sometimes it seems like they are out of this world. They don’t see any blockers, only a target. You might have experienced such inspiration …
The Fintech RevolutionWhen we hear or read of failure, we usually remember our hard times or even some painful situations. Our unconscious fear of fatality raises in our minds. But we also know that failures happen, and if we learn from them, we gain experience. We learn from doing and become wiser by overcoming failures. The tricky thing is that we will rather see opportunities for growth and improvements from …
Digital Banking Product Development: Challenging Beyond the Challengers“I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he has had to overcome while trying to succeed.” — Booker T. Washington Reading the personal success stories of well-known people is enjoyable, interesting, and so inspiring. However, there are two points that readers need to keep in mind while reading. The first one is …
2018: We’re making headway!The year 2018 is over. This period was a full plate of great projects and prospective products for our sci-tech crew. Some projects were a challenge for us but the results we’ve got are colossal. Dashdevs has developed and released a digital bank, several messengers, loyalty programs, e-commerce, retail and news applications. When you working hard it is difficult to get a sense of your true-life …
