Startup Pakistan’s Post

Ever found yourself frustrated with your banking app? I know I have! 🙄 That's why I'm excited to share that my team at SoftwareHut has partnered with ExtraHut to make managing your finances as easy as scrolling through social media. We're reimagining the entire banking experience, from how you check your balance to planning your next business trip. See more below #FinTech #Banking #Innovation #Finance 

In today's fast-paced digital world, managing #finances should be simple. Yet, many of us have found ourselves frustrated with unintuitive banking apps. This is where the partnership between SoftwareHut and ExtraHut comes into play, aiming to revolutionize the fintech landscape. As we move further into the digital age, such innovations are set to make financial management more accessible for both consumers and banking professionals. Check our innovative solutions. #Innovation #Banking

Many people have struggled with banking apps, which can sometimes be difficult. SoftwareHut and ExtraHut have recognized this common frustration and joined forces to improve banking experiences through innovative #fintech solutions. The collaboration aims to simplify financial tasks by combining ExtraHut's expertise in UX/UI design for mobile and desktop transaction systems with SoftwareHut's implementation and testing capabilities. Did you know that the first banking app was introduced by ING Direct in 2011? Read more about several innovative solutions for the banking sector below. #Innovation #Banking  

7 Behavioral Principles in Fintech by Balint Bogdan (with examples) 1. Familiarity:  Use a clean and intuitive design with a layout similar to traditional banking apps. Incorporate familiar icons for actions like transferring money or checking balances. e.g.: Revolut's app interface, which resembles a traditional banking app, making it easy for users to navigate. 2. Cognitive Load:  Present key financial information prominently, such as account balances and recent transactions. Simplify the registration and onboarding process to reduce user friction. e.g.: Monzo Bank's app offers a straightforward onboarding process and displays account balances prominently on the home screen. 3. Benefits: Highlight the advantages of using your neobanking service, such as lower fees, budgeting tools, and convenient mobile access. Use concise and persuasive language to emphasize the value users will gain. e.g.: Starling Bank emphasizes its fee-free spending abroad and real-time transaction notifications as key benefits on its website. 4. Anchoring:  Compare your neobanking features and rates to traditional banks to show potential savings. Use clear visuals and charts for easy comparison. e.g.: N26's website showcases a comparison chart, positioning its services as more cost-effective compared to traditional banks. 5. Loss Aversion: Show users the potential financial losses they might incur by sticking with traditional banks, such as high fees or missed savings.Use persuasive language to motivate them to take action. e.g.: Monese's website highlights how users can avoid hidden fees and poor exchange rates by switching to their service. 6. Discoverability:   - Ensure that essential features like account settings, transaction history, and customer support are easily accessible from the main menu.   - Implement an intuitive search function for finding information quickly. e.g.: Atom bank's app features a user-friendly menu that provides easy access to account management and customer support options. 7. Labor Illusion: Showcase the security measures, cutting-edge technology, and customer support teams behind your neobanking service to build trust. Share success stories or customer testimonials to humanize your brand. e.g.: Revolut's blog and social media presence often highlight the efforts of their team in developing security features and innovations, reassuring users about their commitment to safety. Credits: Balint Bodgan - good stuff 👏 More examples in the slides. #fintech #banking #digitalbanking #ui #ux #uxdesign 

📱Embracing the Digital Wave: The Power of #MobileBankingApps & the Rise of Super Apps with #EmbeddedFinance. #DidYouKnow? A whopping 74% of global consumers are now utilising mobile banking apps, with 66% accessing them on a weekly basis. These figures aren't just statistics; they're the pulse of our modern economy, highlighting the indispensable role of mobile banking in our day-to-day lives. But that's not all! Enter the era of #SuperApps with Embedded Finance. These multifunctional platforms are reshaping the landscape, offering everything from ride-hailing to food delivery, all seamlessly integrated with financial services. In an era defined by digital convenience, these numbers underscore the vital importance of seamless and secure app experiences within the banking industry. 💳 It's not just about convenience anymore; it's about setting new standards for accessibility, reliability, and trust. Whether you're a banker, a fintech enthusiast, or a digital strategist, these figures should serve as a rallying call to elevate our offerings and meet the evolving needs of our customers. Let's leverage this momentum to drive innovation, enhance user experiences, and shape the future of banking. Connect with us to explore the world of possibilities today - https://bit.ly/3Js0M4U * Data Source: https://lnkd.in/dHWeKZQ4 #FridayDidYouKnow #MobileBanking #SuperApps #EmbeddedFinance #DigitalTransformation #FintechRevolution #Innovation #LinkedInFinance #LinkedinFintech #MobileApps

🚀 Exciting News from the Fintech Frontier! 🌟Here are our top 3 insights from Revolut's app update: 1️⃣ Streamlined Money Management: Revolut 10 allows users to effortlessly access a consolidated view of all their financial assets. No more juggling between accounts, currencies, savings, Pockets, or Joint Accounts. It's all in one place for seamless money management. Anyone who needs this user experience will need the transaction enrichment service that Genify offers .Our API categorizes credit card and account transactions in the most granular and accurate way, enriching transactions with all the information your users expect in their bank or fintech app. 2️⃣ Personalized Experience: Revolut 10 empowers users to customize their app experience, from changing themes to adding widgets for their most-used features on the homepage. The level of personalization is truly impressive, putting users in the driver's seat, Genify's APIs empower personalization for banking and fintech applications. Having enriched user transactions is one of the ways these applications can offer tailored and seamless financial experiences to their users. Visit our previous post (https://lnkd.in/dy4PGTT2) to know more about 🔓 Unlocking Personalization in banking apps. 3️⃣ Enhanced User Interface: The new interface is not only more intuitive but also incredibly user-friendly. This translates to a smoother experience when it comes to sending, spending, and saving. Revolut continues to excel in user experience, a fact Genify proudly emphasizes to our banking and fintech clients. The transaction statement and spending analytics features offered by their app have always been admired and continue to be appreciated by users worldwide For more details on this exciting update, check out the original post : https://lnkd.in/dkHr75nt #revolut #fintechinnovation #moneymanagement #userexperience #api #genify #fintech #banking

You can easily find numerous banking and finance apps available on the internet. But, how to develop a Fintech app exactly? 💭 Get all of your answers in this article: https://lnkd.in/d7fSbb-S #newwavesolutions #ngonsongmoi #IToutsourcing #softwaredevelopment #websitedevelopment #mobileappdevelopment

🚀 Introducing SwirlPay: Transforming Banking for You! 🏦💫 Get ready for the launch of SwirlPay, our revolutionary mobile banking app that's set to redefine the way you manage your finances! Say goodbye to traditional banking hassles and embrace a new era of convenience and flexibility. 💳 With SwirlPay, you can now take control of your finances like never before. Here's what makes SwirlPay stand out: ✅ Flexible Payment Plans: Tailor your payment schedule to your needs, whether it's convenient bi-weekly installments or easy monthly payments - we've got you covered. ✅ Financial Wellness: SwirlPay empowers you to manage your money responsibly, without interest, fees, or accumulating debt. Your financial well-being is our top priority! ✅ Unmatched Convenience: Managing your finances is a breeze! Use your SwirlPay app for a seamless banking experience, complete with real-time insights into your transactions and payments. Stay on budget effortlessly with personalized notifications and reminders. 📱 Get ready to embark on a new financial journey with SwirlPay - coming soon to the App Store and Google Play! Our app is designed to provide you with complete financial control and convenience at your fingertips. Stay tuned for the official launch - a more convenient and enjoyable banking experience is just around the corner! 🤝 Thank You for Trusting SwirlPay: We are dedicated to delivering unparalleled financial convenience, making your life easier and more enjoyable. Your satisfaction is our greatest reward! 💙 Join the SwirlPay community and experience a world of financial freedom and responsible banking. Together, we're reshaping the future of banking for everyone - individuals, businesses, and society as a whole. #SwirlPay #MobileBanking #FinTech #FinancialFreedom #Innovation #BankingSimplified #Empowerment #DigitalPayments #StayTuned

Neobank - No, it is not Neo from The Matrix A neobank is a type of direct bank that operates exclusively online without traditional physical branch networks. Neobanks are typically fintech firms that offer financial services solely through digital platforms, such as mobile apps and websites. They often leverage technology to provide a streamlined and user-friendly banking experience, targeting a tech-savvy customer base. Neobanks typically offer services such as: 📡 Digital account opening: Customers can open accounts entirely online, without the need to visit a physical branch. 🛵 Mobile banking: Neobanks usually provide mobile apps that allow customers to perform various banking operations, such as transferring funds, making payments, and managing their accounts on the go. ➡ Fee transparency: Many neobanks aim to offer transparent fee structures and lower fees compared to traditional banks. Personal finance management tools: Neobanks often provide digital tools that help users manage their finances more effectively, such as budgeting assistance and spending tracking. 🔝 Enhanced customer experience: By leveraging technology, neobanks strive to provide a seamless and user-friendly experience for their customers. Neobanks often partner with traditional banks or financial institutions to provide services like deposit insurance and payment processing. They have gained popularity due to their convenient and user-centric approach to banking, often attracting younger, tech-savvy customers who are comfortable managing their finances online. However, it's important to note that they may not offer the full range of services that traditional banks provide, such as physical branches for in-person customer service. #neobank #financial #mobile #apps #websites #banking #industry

Daily research from FinTech Global Combined Turkish finance app downloads see 8.7% rise over past 12 months Turkish finance app downloads saw a combined 72 million downloads from April 2023 – April 2024, an 8.7% increase YoY. Incumbents slightly outpaced FinTechs in April 2023 – April 2024 accounting for a combined 38.4 million downloads, a 53% share of total downloads. FinTechs saw a combined 33.5 million, a 47% share over the same period.   Ziraat, a Turkish retail bank, had the most downloads from 2017-Apr 2024 with 48.8 million downloads in total. Ziraat had a 13.9% market share of retail banks in 2021 and has been consistently voted Turkey’s most popular bank. Ziraat has a high overall rating in the play store of 4.5. Users appreciate its functionality but critique some user interface choices such as warnings and others have encountered issues such as malfunctioning contactless payments and prolonged unavailability due to faulty updates.   İstanbulkart, the fare payment provider for Istanbul's transportation, had the most downloads of any Turkish FinTech app from 2017-Apr 2024 with 39.7 million downloads in total. İstanbulkart has a very low overall rating in the play store of 1.7. İstanbulkart faces a lot of criticism in their reviews for technical glitches like loading failures and failure to proceed, alongside complaints about restrictions on rooted phones and issues with activation codes. It would seem that their monopoly on transportation payments is the reason for such high downloads rather than a great customer experience. Ziraat Katılım Garanti BBVA Yapı Kredi Papara Halkbank Paycell MobilDeniz Uygulama QNB Group VakıfBank Akbank