The fintech industry is gaining more and more traction as the years move forward. As technology continues to advance almost daily due to COVID-19 restrictions and lockdowns, the digital space is more in demand than ever. Thanks to this increased demand in the FinTech industry, by the year 2022 the industry is expected to be worth $309.98 billion.
The following app idea takes into account the need for digital assistance along with the needs of customers. As new customers are trying to get accustomed to the digital space, many businesses are making learning their digital spaces easier to use or navigate. With these great and very useful ideas, there will be a continued option of having an established digital space to conduct in-person tasks for nearly every industry possible.
Here are some FinTech app ideas that we will see more of in 2021 and beyond:
- Personalized insurance apps: As many freelancers and small businesses are opening up to more possible employees or just needing services themselves, the need for personalized insurance apps allows for insurance needs to be met in quick turnaround times. Having this sector of apps also helps with a quick understanding of insurance terms and conditions where some employees, business owners, and freelancers need further understanding of various insurance issues.
- Peer-to-peer payment apps: Apps like Zelle, Venmo, and even PayPal, assist in making peer-to-peer payments easier for sending payments instantly and long-distance. Creating new apps like these will help with providing varying options for payment systems.
- Trading and investing apps: Joining the stock market and cryptocurrency craze, forming trading and investing apps will provide more options for ways the public can learn about the stock market. AI and data analytics help to gather insights and updates on the stock market in real-time.
- RegTech apps: These apps help assist with finding, exploring, and complying with regulations and laws for business. Other ways to have this app help business owners would be through monitoring new regulations, identifying risks, running compliance checks, and translating requirements into concrete steps. This type of app was expected to be worth $53 billion by 2020.
- Digital Wallets: This sector of apps helps with privacy and theft concerns, with the market being highly sought out by many FinTech companies. By 2024, this sector of apps will be worth $7581.91 billion. This area can also be paired with Peer-to-peer payment apps due to their digital components.
Passfeed has also bridged the gap in all these app ideas. Passfeed has found a way to include all these aspects for small to midsize business owners and freelancers. PayLater, online payments, and e-commerce management systems allow any owner or freelancer opportunities to make the most of their business needs.
Sources:
–https://www.comparethecloud.net/articles/top-fintech-business-startup-ideas-to-find-easy-investment/
–https://easternpeak.com/blog/11-fintech-startup-app-ideas-to-consider-in-2021/
