Investment App Development: Key Features & Cost
Investing and trading used to be so complex that it required a specialized degree to trade stocks and generate passive income. However, technological advancements have made investing so simple that even a teenager can do it.
With the rise of cryptocurrency, investing grew even more popular, to the point that the most popular stock trading applications now incorporate cryptocurrency trading as well. For long-term portfolios, investors choose open-end funds, which diversify risk by investing in various equities, gold, cryptocurrencies, and bonds. Regular individuals now have a plethora of investment options, thanks to mobile applications.
What is an investment application?
An investing application is a mobile application designed to provide information about publicly-listed businesses. Both novice and seasoned investors may use the investing app to track their stock market and other financial market investments. These investing apps assist users in saving money and enhancing their assets by providing a variety of flexible resources at cheap application costs.
Investment App Development Features
1. Personal Login & Accounts
A comprehensive financial application, such as Acorns, user-friendly and conversion-oriented, must have a login function. Additionally, what does it imply when you log in and are not allowed to establish a profile?
A personal profile with basic and advanced features is required for purchasers. The acorn’s app may serve as a private office for investors, allowing them to create a portfolio, manage current assets, and monitor company performance. To avoid scaring away the investor, keep the registration procedure short and straightforward. Additionally, you may offer social profile registration to create accounts quickly.
2. Money Management Instruments
If you’re starting an investment platform, money management tools need a particular place on your feature list.
Why? Individuals often seek the proper method to manage their finances. Therefore, provide your target group with robust dashboards that include currency, savings, and credit management tools. To maximize the effectiveness of infographics, pie charts, and interactive bars, all information should be aesthetically attractive and informative. To ensure that customers have a clear view of their financial and investment activities, send them daily, weekly, and monthly reports. It’s an excellent method of boosting consumer loyalty.
3. Protection of Security and Privacy
Increased protection is the golden rule that every financial institution must follow.
The emergence of increasingly sophisticated methods of financial crime is a result of ever-evolving technology. Take personal information security seriously since consumers want to feel secure while interacting with your website. For instance,
Create a robust IDPS (Intrusion Detection and Protection System) capable of deterring DDoS attacks. Have encryption methods in place to guarantee the security of online payments. Protect the stock market application or website, such as Acorns, against phishing attacks.
Establish a staggered sign-up procedure and two-factor authentication to protect investors’ money and personal information.
Additionally, ensure that your customers are aware of your data security and privacy policies.
4. Comparative Analysis of Products
Comparing investing possibilities is another critical aspect to consider when selecting an investment platform. Because investors are very picky when selecting a basket in which to put some of their eggs.
It has an eerie resemblance to shopping. You cannot return a product if you are dissatisfied with it. That is why it is critical to demonstrate the distinction, quantify the advantages, and assess the risks associated with various investing objectives.
Thus, the easiest way may be to create a separate section with many alternatives in which customers may specify criteria and evaluate available options.
5. Alerts in Real-Time
Do not be afraid to include push alerts, customized reminders, and real-time feedback as you begin developing an investment strategy.
It keeps your customers informed about their returns, alerts them to questionable activity, and gives them special deals and discounts. Encourage users to adjust their notification settings to avoid obtrusiveness.
6. Assistance to users
Finally, but certainly not least, is user assistance. The positive shift from a customer-centered to a business-oriented mindset benefits customers by increasing their sense of commitment and care. Previously, businesses could not show the new concept of customer service since call centers were widely utilized. However, there are many more straightforward ways to stand out in the real estate market today.
Virtual assistants, for example, are gaining popularity. You can develop a chatbot to handle routine queries to save money and enhance customer experience and engagement.
The Price of Developing a Mobile Investment Application
There are no perfect app cost calculators, but you can always calculate it using the following simple formula (referred to as an app cost calculator):
Investment app development cost = Time taken to develop x Hourly Rate
However, the hourly pay for app developers is about $15 to $25 and varies by region. For additional information, see the following table for a breakdown of the hours required for each feature.
- End-User Native Android (Smart Phone) Application (270 hrs.)
- End-User Native iOS (iPhone) Application (270 hrs.)
- Development of the backend (administrator panel + database) and web services (175 hrs.)
- Quality Control Testing (90 hrs.)
- Management of Projects (70 hrs.)
- Designing UI/UX (50 hrs.)
The hours shown in the investment application are approximate. These hours vary by region, developer, and business.
Originally published at https://www.aalpha.net on October 5, 2021.