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Development of quality financial software

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Are you creating a modern payment system, trying to satisfy the needs and satisfaction of business, and want to create an original IT product that will meet all requirements? Geniusee, a financial software development company, can help you with this. With dozens of creative fintech projects, we are ready to turn your complex project into reality.

The company provides a modern fintech solution compatible with central database management systems in the financial sector. These solutions include online and mobile banking, chatbots, and contactless smartphone payment applications. The primary purpose of Geniusee activity is to provide access to information and transactions related to banking products and services and to develop modern financial solutions. Banks are among the most conservative financial institutions; they are strategically created to serve end users’ money. Is this field editable, and how do I convert it? Many banks are taking new steps to create a convenient online infrastructure because this is a unique opportunity for the financial structure. Fintech is changing the landscape, and startups and fintech projects that have already started are changing customers’ attitudes to this area because they are creating a new quality of ideal payment services.

Fintech is quite old as the financial services industry. However, after the economic crisis of 2008, traditional e-commerce service providers were replaced by more efficient and technologically advanced companies. Whether you use ApplePay or just a credit card to shop online, you as a consumer, your online store, and your payment bank use the fintech industry, which is used in financial services or used by companies to manage the financial aspects of their business, including new applications, practices, processes, and business models. Previously, fintech was considered only an internal development and process within financial institutions and was not directly accessible to consumers of financial services. In 2022, fintech is at the heart of all online transactions, including money transfers, loans, and utility payments.

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Thorough technical analysis

Developing modern financial software is carried out by developers who provide effective solutions for financial institutions. Programmers and development teams can successfully present cases of financial software development in the field of blockchain integration, multifunctional mobile financial applications, payment systems, and various fintech applications. Thanks to a proven and practical approach, modern solutions are provided, built on modern technology solutions, which are accessible to multiple business environments and aim to improve your experience in fintech.

What is the future of fintech?

Financial and technology companies are looking at banking more broadly, offering banking and non-banking services. Financial technologies will work on accurately processing big data, personalizing services, accelerating online operations, and maximizing customer demand. Over time, more and more people get tired of going to a physical bank branch to carry out financial transactions. Traditional banks can no longer rely solely on deposits, loans, and checking accounts as the basis of their operations. Fintech and its competitors have long separated banks from their most dynamic industries, turning them into purely utilitarian institutions. The future of banking depends on leveraging customer insights, advanced analytics, and digital technologies to deliver services that enable today’s consumers to manage their finances better.

Types of fintech products

Among the types of fintech products, the following can be distinguished:

·         P2P – payment for goods and services – a quick and easy way to pay in stores or applications.

·         Personal finance management application – for capital management, easy expense calculation, personal account management, and financial management.

·         Investment Solutions is an investment management platform designed for people who invest, trade, or deal with financial markets.

·         Crowdfunding is often created to raise funds and invest in new projects.

The development of a full-fledged fintech project from idea to implementation by Geniusee specialists takes several months, depending on the scale of the product and the number of requirements the client sets, which Geniusee developers must implement. The development and implementation process is very complex, as fintech projects often require integration with many partners and compliance with clear regulatory standards.

How are the development process and work experience? How does a fintech application turn into a full-fledged solution?

A set of basic requirements. The main goal at this stage is to understand customers’ needs and obtain a competitive advantage over fintech products.

Project development. Since the client is a visual artist, the second stage of implementation is the project’s development. The critical point is determining what the client wants to see in the result. Design is what users interact with, and it must be practical and attractive to the client. The team’s main task at the moment is to create a recognizable style for the application.

Architecture development and partner selection. After finding the final field of ideas, an architectural proposal is created. These include a mobile app, a fintech platform that coordinates over 30 third-party integrations, plugins, and a dashboard.

The active stage of development. All parts of the application are developed simultaneously; at this stage, there is a difficult task to create modern functionality as quickly as possible with a minor loss of quality. Note the critical role of experts at this stage, including architects, backend and mobile developers, DevOps, QA experts, managers, and product owners.

Testing and publishing. At this stage, project activities change, and the project is thoroughly tested before release. The product team is constantly analyzing user behavior, and developers are aware of error cases and identify precisely the key issues that need to be fixed immediately.

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