The Lending Club IPO in 2014 marked the beginning of a Renaissance for FinTech app developers, with financial app services launching with ever-greater frequency (and ever-larger funding). Today, FinTech app startups like Mint and Robinhood are disrupting the personal finance and stock trading industries respectively, leading developers to wonder: how much more room for growth is there in banking apps?
The answer, based on overall growth in FinTech offerings and startup funding trends, is a resounding yes.
Follow the funding trail: FinTech investments growing rapidly
Following a spike in Q2 of 2014, FinTech startups have seen a steady overall growth in investment capital year over year. It’s no secret that investment capital drives the startup ecosystem, so NYC iPhone app developers can rest assured that the prognosis is good for investment partnerships moving forward.
Looking forward: millennials vs. brick-and-mortar
The mobile habits of millennials are rapidly maturing and driving the need for advanced personal finance apps, not to mention increased adoption to mobile apps among all demographics of the US public. We predict that 2016 will see at least a few big-name startups emerge in sectors traditionally left to traditional brick-and-mortar financial institutions. (Services like Simple are already doing this for banking.)
Mobile messaging: making FinTech “personal”
Another trend FinTech developers can expect to see grow rapidly is mobile messaging as UI. FinTech services like NextGenVest and Digit take this to the logical extreme by ditching native altogether in favor of personalized SMS service. Even FinTech app developers with native feature-heavy apps are increasingly using messaging — either within the app or via SMS and Messenger integrations — to further the personalized feel of native banking.Tags: Android, Apple, apple app store, banking app developer, banking apps, financial app developer, fintech, FinTech app developer, FinTech apps, investors, Mint, monetization, NextGenVest, Simple Bank, startup funding, startup investors, startup trends, startups