Trading platforms as a business endeavor can become a way for a fintech business to ride the wave of trends. It is possible to integrate trading elements into fintech applications or even create a fully functional stock trading app as a standalone platform. Developing a custom trading platform that goes beyond basic functionality can provide significant competitive advantages. I can say with …
2024/10/31
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 …
Mobile app development is a vivid example of a promising but demanding market. Stats reveal that the number of mobile app downloads has reached 257 billion and is increasing, while annual mobile app spending also shows a positive trend.
However, do you pay attention to how many users abandon mobile apps by deleting them? Such statistics are no less impressive. At the end of 2023, the Android app …
KYC solutions market has a big pool of providers that offer options capable of helping your business enhance the security and improve customer expereince. Currently, the market size is projected to reach USD 15.81 billion by 2030, and is rapidly expanding at a CAGR of 20.8% from 2022 to 2030.
However, it’s easy to get lost in this multitude of choices, and many of my customers, partners, …
Businesses 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 …
Back in 2022, SWIFT, a write transfer network, reported processing 42 million financial transactions daily. At the same time, over the year 2022, the ACH network processed more than 30 billion transactions.
As you can observe, both payment methods are popular. However, which one should you adopt as a business that sends or receives payments or, as an alternative, provides such an opportunity to …
Over the past years, the healthcare industry has notably digitalized. With about 2 billion users in the global digital health market health and medtech apps and platforms have a huge potential to distribute services. That’s where fintech, as a banking and payment-focused niches, comes into light, revolutionizing the existing approaches to providing healthcare services online.
In this post, you’ll …
Artificial intelligence (AI) has changed the financial services industry, with applications in investment banking, insurance, wealth management, and more. One of the most promising AI tools for investment banking is ChatGPT, which already has more than 180 million monthly users.
This generative pre-trained transformer language model can be used to provide virtual assistants for customer service …
How 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 …
The 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 …
The digital payment boom has changed how people buy and pay for things. For example, modern businesses are use electronic methods to make their operations more efficient, and it helps them achieve competitive leverage. The online payments imply the presence of a merchant service provider.
Statista research predicts the overall transaction value increase by 11.79% annually from 2023 to 2027, …
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 …
Crafting a clear plan for entering the market is easily one of the most impactful things a startup can execute to get closer to success.
Report by Gather evidence that 83% of companies have a dedicated team or a role responsible for creating startup company marketing strategy. Besides, 85% of the organizations report that their go-to-market strategy was very or somewhat effective at driving …
What 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 …
The market for financial technology is expanding at a fast pace, and so is the number of companies operating in this field. It is estimated that by 2024, the fintech market will exceed $340 billion, and by 2030, it will reach $1,152 billion. There are currently approximately 30,000 fintech companies around the world, and this number is constantly increasing.
Ongoing development of technology gives …
2024/06/24
E-commerce businesses are always looking for opportunities to improve customer service through technology and innovation. Headless commerce provides them with such an opportunity by introducing a flexible architecture that can be adapted to different business needs.
According to Statista, 63% of retail businesses plan to implement headless e-commerce architecture in the coming years, and 22% are …
Usage 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, …
Modern 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 …
Back 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 …
In 2024, one-fifth of all retail purchases will be made online, and a third of shoppers will make online purchases on a daily basis.
It’s obvious that online shopping has turned from luxury into a necessity for modern consumers.
If you own a retail business but still don’t sell online, now it’s time to jump into an e-commerce train.
With an online presence, you will be able to …
As a distributor of products or services online, have you struggled with obtaining your merchant registration? Or maybe you could benefit from having a partner who will take care of your customer payments and just settle money in your bank account without any processing difficulties. If so, payment facilitation (PayFac) must be your choice of merchant operation model.
2024/04/27
Blockchain is regarded as a promising technology with plenty of potential uses across most industries, far beyond simply trading cryptocurrencies or securely exchanging digital assets.
Deloitte’s research evidence that 80% of businesses from across various industries expect blockchain to bring new revenue streams in the near future. And that most likely will be the case.
In this post, you’ll …
Card issuance is no longer a prerogative for banks. Businesses from across the globe can adopt this functionality.
With card issuance, companies can provide customers with branded cards used for closed ecosystem payments and special discount programs. These cards help businesses strengthen brand loyalty, enable global presence, and target customer differentiation.
To use card issuance, businesses …
2024/04/14
In 2023, Revolut surpassed 30 million retail customers worldwide and now makes more than 400 million domestic and international transactions combined every month. While seemingly large this number is, the global neobanking market is expected to grow at a compound annual growth rate (CAGR) of 54.8% from 2023 to 2030. It proves that the neobanking market is far from being saturated, while more and …
The world is highly modernized, and 75% of all payments worldwide are made digitally, using banking cards mostly. In that regard, businesses strive to take advantage of card issuance in order to improve the services they provide.
In this post, you’ll discover what card issuing is, what businesses use this opportunity,how the process of card issuance works, and what card issuers are. Besides, …
2024/03/26
Are 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 …
Whether 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 …
According 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 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 …
Fintech 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 …
Innovative 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 …
Customers 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 …
In 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 …
In 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, …
More than 5 billion people engage with mobile apps daily. Thus, if your fintech app isn’t generating revenue now, it might be time to reassess your strategy and explore ways to enhance its performance to monetize app.
Financial apps are consistently in demand. They provide essential services for tasks like money transfers, expense tracking, and online loan applications, all from the comfort …
Nowadays, 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 …
Despite 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 …
Events are the best way to build a strong network for your business and yourself as a business individual. 79% of people agree that networking plays a vital role in career and customer attraction, as about 40% of people are inclined to become customers of a particular company after meeting a business owner.
But networking also has to be mindful. Good networking events always come with a great …
Bitcoin, the world’s leading cryptocurrency, has captured the hearts of millions, with its user base growing extremely fast during the last decade. As of the latest statistics, over 400 million people actively engage with Bitcoin worldwide as of 2023, showcasing the rising influence of decentralized digital currencies.
On the other side of the spectrum stands Revolut, a trailblazer in …
Product discovery is an initial phase that precedes the project’s development stage. During product discovery, the product team delves into the market, identifies potential problems, and explores their solutions. Failing to undertake thorough discovery puts the team at risk of creating a product that can’t function properly, disappointing clients, wasting time and resources, and …
Welcome 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 …
Everyone would love to have higher user retention rates for digital products. Within one month of downloading a mobile app, retention rates are only about 40%, and by month three, they drop to around 30%.
To keep high indicators, you need to create a product that offers real value with ease. This approach will help you retain loyal users and earn long-term subscriptions, renewals, and referrals. …
We’ve already talked about customer-centric approach and how you can leverage it to gain a sharper competitive edge and attract loyal customers. So, now in this article I will be shedding some light on how to ensure customer-centricity in software products.
First, we’ll speak of customer centricity practices and how to ensure accessibility and inclusivity of your software for all customers. Then, …
As we get closer to 2023, it’s critical to keep an eye on the US fintech companies that are shaking up the market. These businesses are transforming how individuals engage with money and show no signs of weakness.
In the previous decade, fintech has become the world’s fastest-growing sector. Money transfers between businesses all over the world had never been so simple until Fintech. …
2022/12/12
You’ve finally decided to engage an application development outsourcing company. The IT outsourcing sector is a motley crew of the best and worst. Finding a trustworthy app developer requires more than a casual internet search. It’s a time-consuming procedure that demands considerable thought. You may increase the chances of your app’s future success by following a thorough …
2022/11/17
Financial transactions are often the target of hackers who want to make money quickly. Because of this, traditional banks have to follow strict rules about fintech cyber security. But fintech companies don’t have the same level of oversight as banks, so they often cut corners when it comes to security, even when they aren’t required to.
With the help of data, fintech may improve a …
2022/11/09
Fintech data science is used in retail banking, teaching people about money, online trading, peer-to-peer lending, and other areas. These markets handle a lot of user data in order to give better services and get more profit. Therefore, Big Data is a very hot topic in the world of finance.
What Big Data Means
It’s not a new idea of different uses of Big Data in fintech to better serve …
2022/11/06
More and more financial institutions want to improve their customers’ banking experiences by making services and products that are new, easy to use, and built for the digital age.
Even though new products and services are always welcome, especially by customers, the rise of new platforms could be dangerous for regional banks that don’t have the resources to compete. Community banks …
2022/11/03
According to Statista, gross consumer mobile app expenditure reached 170 billion USD in 2021, up from 143 billion USD in 2020. The COVID-19 epidemic had a significant influence on consumer app store purchases since it forced individuals to spend more time at home and move to digital channels for many ordinary activities.
Unquestionably, the mobile app sector is one of the most rapidly developing …
Yeah, we have a happy occasion today while collecting the latest fintech news of the week 06.14 - 06.18. And we’re even more excited about taking a part in your financial literacy and versatile outlook formation by showing you the banking world of 2021 as it is. Will you share our joy with us? Just read the hot news selection below and enjoy your time!
Shocking Fintech News in the Video Format — …
2021/06/18
Have you celebrated international Banker’s Day or greeted some friends or partners of yours? If no, it’s never too late! But before you take your phone and start texting, grab a few interesting pieces of news to share with your interlocutor. Find just a few minutes for reading, and you’ll feel like a true fintech guru. Lead-out with this!
Banking Updates in the Name of Enhancement
Fed Is Thinking …
2021/05/21
As we’ve promised, this weekly digest will provide you with more variety in the news sources. Hope you’ll read every piece of them with gusto! Frankly, this overview has much to tell you about the new startups’ takeoffs and fintech companies’ smart decisions, so get comfy, and let’s go!
The Hottest Discoveries of the Week
Apple Made a Spurt in Attracting Women to Its Card Product
Despite the …
2021/05/14
Are you still running your fintech business like it was done in the olden days or do you get with the times? Check your reality awareness with DashDevs Digest! Even if your plunge into this domain requires time, no worries! That’s our task to make this process easier for you. Switch your curiosity on and get ready to learn with us!
FYI
Crypto Is Totally About Math! $2 Trillion Worth Is Already …
2021/04/30
We’re glad to see your return to DashDevs Digest! Increased product/service value, satisfied users, retention, trust — are these things constantly in your mind? This week has brought new fintech-related insights to ponder about, and we’d like you to learn them quickly with our help. Ready? Let’s get it started!
Investment & Top Prices of Fintech Companies
Embedded Finance: Is It A Nightmare …
2021/04/23
The 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, …
Insurance 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 …
Dozens — a digital branchless financial institution, the technical partner of which is Dashdevs, entered the UK Startups 100 Index with the top 25th position. The Startups.co.uk entitled Dozens a game-changing product for its approach to making financial services affordable for most customers.
Hip-hip and hurray!
The fintech startup aims to help its customers with money management in the most …
2019/07/04
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 …