finance Archives - Mobile App Development Company UK

15 Best Apps for Cryptocurrency Trading in the UK

Posted on January 24, 2023 by RedBytesUK

Cryptocurrency trading involves buying, selling and exchanging digital currencies for profit. It is a fast-paced and volatile market, and with the right strategy and knowledge, you can make a good return on your investment. Before you start trading, it is important to understand the basics of cryptocurrency trading, such as trading pairs, exchanges, and market trends.

When you are ready to start trading, you will need to find a good app for cryptocurrency trading in the UK. There are many options available, and it is important to find one that suits your needs. The right app can help you manage your trades, monitor the markets, and make the most of your investment.

In this blog, we will explore the 15 best apps for cryptocurrency trading in the UK, as well as how to choose the right one for your trading needs.

Benefits of cryptocurrency trading

Cryptocurrency trading offers a number of benefits, including:

Low cost of entry – With low transaction fees and no middlemen involved, you can start trading with a small amount of capital.
High liquidity – You can buy and sell quickly, taking advantage of market movements and trading opportunities.
Low barriers to entry – You do not need to be an experienced trader to make money from cryptocurrency trading.
24/7 trading – Cryptocurrency markets are open 24 hours a day, seven days a week, so you can trade whenever you want.
Access to global markets – You can trade with people from all over the world, giving you access to more trading opportunities.

Read Also: 10 Best Free Stock Trading Apps UK

Cryptocurrency trading in the UK statistics

Cryptocurrency trading is becoming increasingly popular in the UK. According to recent statistics, the UK is the world’s third-largest cryptocurrency market, with more than £7.5 billion worth of transactions taking place in the past year. Additionally, the UK is home to more than 200 cryptocurrency exchanges, making it easy to buy and sell digital currencies.

The popularity of cryptocurrency trading in the UK is driven by a number of factors, including a strong regulatory framework, the ease of buying and selling digital currencies, and the availability of a wide range of trading platforms.

What to look for in a good cryptocurrency trading app

When looking for the best app for cryptocurrency trading in the UK, there are a few key features to look out for:

Security – Make sure the app is secure and provides two-factor authentication to protect your funds.
Ease of use – Look for an app with a user-friendly interface and clear information about the different trading options.
Low fees – Look for an app with low transaction fees so you can maximize your profits.
Reliability – Make sure the app is reliable and has a good customer support team in case you have any questions or issues.
Reputation – Read reviews from other users to make sure the app is reputable and trustworthy.

Read Also: 10 Best Business Apps in the UK

Top 15 apps for cryptocurrency trading in the UK

Now that you know what to look for in a good app for cryptocurrency trading in the UK, let us take a look at the top 25 best apps.

Binance	Coinbase	eToro
KuCoin	LocalBitcoins	Bitstamp
Kraken	CEX.IO	Bitfinex
ShapeShift	OKEX	Gemini
HitBTC	Poloniex	Bittrex

1) Binance

Binance is one of the most popular cryptocurrency exchanges, offering a wide range of trading options and low fees. The app is perfect for beginners as well as experts in cryptocurrency trading. You can buy and sell bitcoin and other 150 plus cryptocurrencies supported by the app.

Binance app is available for download in Google Play Store as well as App Store.

2) Coinbase

Coinbase is a secure platform for cryptocurrency trading with an easy-to-use interface and low fees. The app allows you to buy, sell and earn cryptocurrencies. You can also find many popular and powerful trading tools meant for advanced crypto traders in the app.

Coinbase app is available for download in Google Play Store as well as App Store.

3) eToro

eToro is a social trading platform that offers copy trading, allowing you to copy the trades of experienced traders. You can invest in stocks in the app with no commission. The app also allows you to access some of the powerful trading tools that offer regulated and safe cryptocurrency trading.

eToro app is available for download in Google Play Store as well as App Store.

4) KuCoin

KuCoin is a secure and reliable platform for trading a wide range of digital currencies. You can easily do crypto trading in the app using credit cards. Another benefit the app offers is the low fees and better returns.

You can download KuCoin app from Google Play Store and App Store.

5) LocalBitcoins

LocalBitcoins is a peer-to-peer platform for trading cryptocurrency, allowing you to buy and sell directly with other users. The app offers a free BitCoin Wallet for every user that allows you to store your Bitcoin in your personal wallet. You can access the app in 18 languages, including English, Spanish, Russian, French and Portuguese.

LocalBitcoins app can be downloaded from Google Play Store as well as App Store.

6) Bitstamp

You can download the app from Google Play Store as well as App Store

7) Kraken

Kraken is a secure and reliable platform with low fees and a wide range of trading options. The app makes crypto currency trading simple for traders. You can use the app to buy and sell the most popular cryptocurrencies for low fees. The app also offers multiple payment options and 24/7 support.

Kraken app is available for download in Google Play Store as well as App Store

8) CEX.IO

CEX.IO is a secure platform with an easy-to-use interface and low fees. The app offers instant crypto purchase and sell options, and Bitcoin price data in real time. Apart from the other amazing options the app has, it also provides 24/7 support to the traders.

You can download the app from Google Play Store as well as App Store

9) Bitfinex

Bitfinex is a secure and reliable platform with a wide range of trading options. The app provides advanced options that allows you to trade like an expert. You also receive rewards with staking in the app. Also, the security features of the app ensure safe crypto trading.

Bitfinex app is available for download in Google Play Store as well as App Store

10) ShapeShift

ShapeShift is a secure and reliable platform for trading a wide range of digital currencies. You can easily send and receive cryptocurrencies in the app. Also, the features in the app make it suitable for both beginners and experts. There is also a support team that provides you 24/7 support in case you have doubts or enquiries.

ShapeShift app is available for download in Google Play Store as well App Store.

Read Also: How Much Does it Cost Develop Mobile App

11) OKEX

OKEX is a secure and reliable platform with low fees and a wide range of trading options. It is a one-stop cryptocurrency exchange and wallet app that offers a variety of asset classes for millions of crypto traders belonging to over 200 countries. You can access crypto insights and alerts in the app. Other notable features are OKEX wallet and NFT market place.

You can download the app in Google Play Store as well as App Store as well as App Store

12) Gemini

Gemini is a secure and simple app for buying Bitcoin and other cryptocurrencies. The app allows you to create price alerts so that you can identify the right time to trade. The other features include instant and recurring buys and staking. The app has been built with security as the top priority to ensure safe trading.

Gemini app is available for download in Google Play Store as well as App Store.

13) HitBTC

HitBTC is a secure and reliable platform for trading a wide range of digital currencies. This app comes with a wide selection of digital assets – to be specific, over 1000 of them. The app comes with the perfect tools for you to trade professionally as well as to come with a good trading strategy.

HitBTC app is available for download in Google Play Store as well as App Store.

14) Poloniex

Poloniex is a secure platform with low fees and a wide range of trading options. The app features over 500 trading pairs and the fees are the lowest compared to its counterparts. You can also join the app’s community, where you can compete with fellow traders and discuss things related to crypto trading.

The app is available for download from Google Play Store as well as App Store.

15) HitBTC

HitBTC app is available for download in Google Play Store as well as App Store.

Tips for successful cryptocurrency trading

Cryptocurrency trading can be a lucrative venture, but it is important to approach it with the right strategy. Here are a few tips to help you get started:

Monitor the markets – Keeping an eye on the markets can help you spot trading opportunities and make the most of your investments.
Manage your risk – Make sure you understand the risks involved and only invest what you can afford to lose.
Diversify your investments – Diversifying your investments can help reduce your risk and maximize your profits.
Stay up to date – Staying up to date with the latest news and developments can help you make informed trading decisions.
Have a plan – Having a trading plan and sticking to it can help you stay disciplined and maximize your profits.
How to choose the right app for your trading needs

With so many options to choose from, it can be difficult to decide which app is best for cryptocurrency trading in the UK. Here are a few things to keep in mind when choosing an app:

Security – Make sure the app is secure and provides two-factor authentication to protect your funds.
Ease of use – Look for an app with a user-friendly interface and clear information about the different trading options.
Low fees – Look for an app with low transaction fees so you can maximize your profits.
Reliability – Make sure the app is reliable and has a good customer support team in case you have any questions or issues.
Reputation – Read reviews from other users to make sure the app is reputable and trustworthy.

Once you have found the right app for your needs, it is important to practice proper risk management and stick to your trading plan.
Cryptocurrency trading is becoming increasingly popular in the UK, and there are many cryptocurrency trading apps available today.

When choosing an app, make sure to look for one that is secure, reliable, and has low fees. With the right app and strategy, you can make the most of your cryptocurrency trading investments.

Best Mobile Banking Apps in the UK 2023

Posted on November 7, 2022 by Redbytes UK SEO

Banking has long gone from manual procedures to getting things done within few clicks. We surely had few hitches in the beginning, but now – being the digital era, we all are accustomed to the changes and even keep up with the updates happening in mobile banking with ease.

Keeping in mind the fact that there has been an increase in mobile banking app users, the mobile app development industry has also been actively creating apps for mobile banking and related services. The situation is the same for all countries, including the UK.

From both customer and banking point of view, mobile banking apps do seem like a boon. But you never know until you actually use them. Finding the best mobile banking apps to carry out banking-related functions is a herculean task.

Through this blog, we mean to ease out the job for you. Here, we have listed out the 10 best mobile banking apps in the UK based on their range of functions and the level of service satisfaction they offer.

Consider the following list of mobile banking apps UK.

Barclays Mobile Banking App	Natwest Mobile Banking App
Lloyds Bank Mobile Banking App	The Halifax Banking App
Santander Banking App	Royal Bank of Scotland App
HSBC Banking App	Nationwide Banking App
TSB App	Monzo Banking App

1. Barclays Mobile Banking App

Known to be one of the most sought-after banking services with over 5 million installs, Barclays mobile banking app tops the list. You can download the app from both Google Play Store as well as Apple App Store.

What makes Barclays mobile banking app noteworthy is its stunning features and the array of basic banking tools that make everyday banking easy for the customers.

Due to safety concerns, the app does not support rooted devices. Users can check their account balance, access account details, send or receive money and earn rewards.

A few noteworthy features are:

Account overview and access
Payments and transfers
Loan and cash rewards
Tips and directions
Branch locator
Security

2. NatWest Mobile Banking App

NatWest Mobile Banking App had won the “Best Banking App” title for two consecutive years (2017 and 2018) by British Banking awards, which is a rare honour.

The app is known for intuitive banking services making it a favourite among users seeking banking services. NatWest Mobile Banking App is available for download in both Google Play Store and App Store.

The app is packed with features that are simple to use and provide secure banking services. Users can check their balance, manage their account and do transactions using the app.

The prominent features that make NatWest a gem among mobile banking apps are:

Account Overview & Quick Access
Payments
Get Cash
Branch Locator
Security

Read Also: 10 Best Stock Trading Apps 2023

3. Lloyds Bank Mobile Banking app

Lloyds mobile banking app is another great banking app in the UK. It has been honoured as a Mobile Banking Benchmark and has earned a million downloads for its quality features and services. The app has both Android and iOS and you can download in from the respective app stores.

What makes Lloyds mobile banking app noteworthy is it’s easy to use interface, quick response and the built-in security technology that keeps user details safe and secure.

The app is known for its usability and seamless functionalities combined with the best customer experience it offers.

Here are some of its main features:

Account overview
Payments and transfer
Branch and ATM finder
Security

4. The Halifax banking App

The Halifax banking app stands out among its counterparts and hence, undoubtedly, deserves a spot in the list of best mobile banking apps in the UK.

The app has unique features, a simple and intuitive design and user-friendly attributes that ensure that the bank customers are well-served. The app is available for download in Google Play Store as well as Apple app store.

What sets the Halifax banking app apart from its closest contenders is the cheque deposit feature. Apart from that, it also provides all basic banking features and tools like any other banking app. The Halifax Mobile banking app also does not support rooted devices to ensure security.

Its main features and functions can be summed as.

Easy access and overview
Deposits, payments and transfers
High Security

5. Santander Banking App

Santander Banking App is another must-include app in the list of top banking apps in the UK. You can download the app for free from the Apple App Store and Google Play store.

What makes the app impressive is that it is optimized to make money management an easy task for customers. The ‘bill splitting tool’ is exclusive to the app that adds to its awesomeness.

The app supports multiple accounts, allows smart finance tracking and has many other features that make it stand out among its counterparts.

Below are the main features of the app:

Easy access and overview of multiple accounts
Deposits, payments and transfers
Bill splitting
Branch and ATM locator
Security

Read Also: Impact of AI in Banking Sector

6. Royal Bank of Scotland App

Royal Bank of Scotland mobile banking app makes banking a simple and secure experience for users. The app is packed with features that provide convenient banking services to customers and is added with a built-in security technology to ensure the safety of account details.

The added features like money transfer between accounts, making payments and fingerprint login make the app unique. The app even provides access to visually impaired people.

The Royal Bank of Scotland app basks in positive reputation that emerges from the leading 4.5 ratings in the app store and registers a million downloads.

The app’s main features include:

Access and overview
Payments and transfers
Branch Locators and Get Cash

7. HSBC Banking App

HSBC is a popular bank that is headquartered in London, UK and has branches across different countries. The bank has a large customer base and provides all necessary basic banking features and tools through their app.

Customers should register for Personal Internet Banking to use HSBC Banking app. Once they register, they can avail all functionalities on its online banking platform. Users can use the app to access their account details and conduct transactions smoothly.

Just as other mobile banking apps do, this one also allows customers to access their account details and perform transactions smoothly.

To be eligible for using the app, customers should register for Personal Internet Banking. Registered users are free to avail all the functionalities on its online banking platform.

The main features of the HSBC Banking App include:

Easy Account access and overview
Payments and transfers
Branch and ATM locator
Security

8. Nationwide Banking App

Nationwide Banking App is another top banking app in the UK that provides basic and intermediate banking needs the app way. The app consists of all basic features necessary for banking. Apart from that, the app has additional features that allow customers to access their account and also manage multiple accounts.

Nationwide Bank has two mobile banking apps – one is for banking and the other for managing insurance policies management where users can pay their bills, rate quotes updates and locate local agents. Both apps are available for download in Google Play Store and Apple App Store.

The number of downloads has hit over one million with average rating of 3.9 in the app store.

Its general features are:

Access and overview
Payments and transfers
Other features

9. TSB App

TSB app is another banking app that comes with easy-to-use features and a user-friendly interface that makes banking a simple task for customers. The app is available for free download in Google Play Store as well as App Store.

TSB app has all necessary basic banking features and is constantly undergoing updates where new features and well as better versions of existing features are added to it to provide the best user experience. Like many other banking apps, TSB app will also not work on rooted devices.

The frequent updates are released to improve existing features. TSB app will not work on rooted devices.

Some of its top features are:

Easy access and account overview
Payments and fund transfers
Converter and locator

10. Monzo Banking App

Monzo Banking App is a unique banking app in the UK that provides exclusive, mobile-only banking services in the country. The app is available for free download in Google Play Store as well as App Store.

Users can open a current account or a salary account using the app and they can officially own a sort code, account number and Monzo debit card. Customers can use the debit card to pay wherever Mastercard is accepted. The app also allows easy bank transfer through standing orders and direct debits. Customers can also freeze their Monzo cards if they lose it.

Quite unique among peer mobile banking apps for this streak, the app received more than 100,000 downloads and ratings of 4.2 on the app store.

Monzo Bank users are allowed to open a current account and can officially own a sort code, account number and aMonzo debit card.

Prominent features of Monzo banking app are:

Current account and salary account
Payments and transfers
Protection against card loss
Free international debit card payments

Conclusion

The above-mentioned apps are what can be considered the best mobile banking apps in the UK.

Mobile banking apps are extremely useful. You do not have to personally go to a bank and wait in the queue to get things done. Instead, you can do it with a few clicks. Users can manage and control their finances, carry out banking-related operations and monitor their transactions using banking apps.

All banking apps have some general features that are essential for easy and secure banking. Apart from that, many apps also have features that are unique to them, that add to the quality and functionality. You can choose the app that best suits your personal financial requirements and have them installed in your smart phone to use.

How to Create an App like PayPal [Features & Cost Included]

Posted on December 18, 2019 by Redbytes UK SEO

PayPal is one of the first entrants in the P2P market and today it is the pioneer and leader in the space. Many businesses today across the globe are using PayPal as their payment service provider.

There are a few distinct features that set PayPal apart from its counterparts.

For example, PayPal uniquely performs as a merchant account as well as a payment gateway. And even though there is no setup fee involved, consumers transacting on the app will have to bear a service and transaction fee.

The number of users using digital payments in some form or the other to make financial transactions is expected to reach 3.7 billion by the end of 2019.

Hence, there is no better time than now to create a PayPal app clone

Need to Create an App like PayPal

Recent studies show that 3 out of 4 millennials access one or more online or mobile P2P payments regularly. It is not surprising that users love to send money with only a couple of clicks and swipes.

There have been unprecedented advancements in technology and innovations like NFC and biometrics ID that have fuelled these apps to become more self-reliant.

This establishes the fact that there is ample demand in the market to develop a PayPal app or something similar to that. With the growth expected to reach $336 billion in 2021, investments have been free-flowing for fintech start-ups.

Hence, what do you need to do to create a similar app like PayPal and ensure that it becomes a success?

Read Also: 10 Best Free Budgeting Apps 2020

Steps to Create an App Like PayPal

With the decision taken to create a PayPal like app, you need to follow these steps:

1. Project Scoping

Outline the scope of the project that should include the provision for building web, iOS and Android versions of the P2P app. Core features in the project that are a must are opening user and merchant accounts, online payment, transaction/balance reporting, etc.

2. Choose the Correct SDLC Model

Launch with an MVP model that targets specific geography and a limited set of features. Eventually, you can enhance the app, step by step, as you get more feedback from the market.

3. Come Up with a Strategic Approach to Development

You can either opt for a PaaS or MBaaS platform for the web and mobile apps respectively. Key features can be implemented here using the SDKs and APIs. Make use of IDES and frameworks to speed up the project.

4. Assign a Scrum Team

Agile projects require scrum techniques. Therefore, have an appropriate team in place that should ideally comprise of Business Analysts, UI Designers, Web Developers, Android Developers, iOS Developers, a group of Testers and Project Manager

5. Get Cloud Services

Cloud service platforms come in handy for start-ups who do not wish to immediately invest in a ton of IT infrastructure. To get the development ball rolling quickly, managed cloud services can offer features such as ready-made infrastructure, networking, server, storage, middleware, operating system, and runtime environment.

6. Get an Online Payment Solution

To create a PayPal app, you need an API/SDK solution. This can be implemented as part of the core online payment features. You can instantly start processing payments online with this built-in solution. Generally, these platforms are compatible with web, Android, and iOS.

7. Procure an ID Verification Solution

You have to be compliant with regulations governing financial institutions. For this, you must have an ID verification solution that should function to verify government provided IDs. It should also be able to handle KYC and AML processes.

8. Sign-Up for a CRM Solution

Once your P2P app is developed, you will need to integrate it with a complete gamut of business activities. For this, you need a powerful CRM solution.

9. Buy a Bulk SMS Solution

With the app deployed, you will want the users to be engaged with it. Push notification is an intelligent way to achieve this objective. A bulk SMS solution that allows you to send continuous push notifications to your users is what you need to incorporate here.

10. Download and Set-Up IDEs

You will need access to a set of development tools. For this, you need to download the following IDEs:

IntelliJ IDEA, for the web app development, along with this Node.js plugin
Android Studio, for coding the Android app
Xcode, for the iOS app development

11. Get on with Testing

Before you launch your web and mobile applications, you should test it out on multiple browsers and devices.

12. Develop Your Web App

Once SDKs/APIs and development tools are sorted; you should get on with developing your web application. It is recommended that you use js to code the web app to make it more scalable.

13. Design the UI for the Mobile App

Ensure that your user interface is simple and easy to use. Also, make sure that it appeals in terms of visual sensibilities combined with smart technology to your user base. Choose the navigation structure carefully and blend it with the right icons, colour schemes, and themes.

14. Code, Test and Deploy the Android App

Once your Android application moves from the drawing board to the developer’s hands, you can expedite the coding process by using Kotlin, a powerful, feature-rich language. Integrate SDKs/APIs into your code. Test your app and be ready to deploy it on Google Play store.

15. Developing the iOS App

Launching the iOS app will involve coding via using Swift that creates fast and performant apps. Develop the app using Xcode and then test it on multiple mobile devices. Integrate third-party applications along with SDKs and APIs. Publish the app as per the guidelines outlined by the Apple store.

Essential Features of the App

The following are the list of recommended features that you need to include when creating a PayPal app clone.

1. User Digital Wallet

Your P2P application must accommodate a digital wallet space where your users can store their card data.

2. Send and Request Money

This is a simple enough feature where users will be able to send or request funds from other users on the same platform.

3. Send Bills or Invoices

Users will be able to use the camera on their smartphones or tablets to scan bills and invoices and share with other users. Moreover, any transaction on an individual level should generate an automatic invoice.

4. Push Notifications

Push notifications should be sent out on credit and debit of funds. They should also act as reminders, for instance, due date to pay your electricity bills, etc.

Read Also: 11 Best Personal Finance Apps 2020

5. Unique ID/OTP

To make any financial transaction via the P2P app, the user must be able to verify and confirm their unique ID and OTP (one-time-password). With the help of the integrated fingerprint scanner in the device, you will be able to verify transactions through fingerprint scanning alone.

6. Transfer to a Bank Account

The app should be developed with a feature that will enable the user to transfer funds not just on the same platform but also to a bank account or card.

7. Multiple Currency and Automated Conversion Process

The application should support the feature where users can send or receive funds in multiple currencies, globally. The incorporation of a mechanized currency converter can be really helpful as the entire process of the conversion rate depends on it.

8. Track Payments & Check History

Users must be able to track their financial history – received and sent payments, dates, and correct time on the app. To substantiate and scale this feature, you need to send weekly or monthly emails to the users, informing of their updated financial transactions during a given period.

9. Chat

If the users wish to seek clarification concerning payment, then introducing a chat feature will be certainly beneficial. It will also add great value and a competitive edge to your application. Besides that, it will reduce the number of possible mistakes.

10. Messaging

At times users may need to add details along with their transaction. This can be done by introducing the messaging feature.

11. Admin Panel

This feature is more relevant to the app owner. A web admin panel needs to be created that will help the owner to manage the app, edit, remove, and so on.

12. Secure Networks

Security is of paramount importance in a payment application as data transmission and storage are at a high risk of compromising. Blockchain technology can come to your rescue here that assists you to take advantage of peer-to-peer networks.

How the App Makes Money?

Online payment apps need to make money too. Therefore, a monetization strategy or a revenue model should be in place to ensure the app’s success. After all, every entrepreneur needs their venture to be profitable within a reasonable time.

You can go with two models of revenue generation when you develop a PayPal app version.

1. Premium Service Method

You can let your consumers access basic features such as transferring funds, accessing transaction history, and more on the free version of the application.

However, high-end features such as cryptocurrency transactions, text messaging facility, currency rates, and conversion facility, etc. should only be accessible on the paid version of the app.

2. Affiliate Marketing Method

Allow complementary financial institutions like banks, credit card companies or similar organizations to advertise their products and services on your app’s interface.

Trends & Statistics

According to the Allied Market Research report, the mobile payment market was valued at over $600 billion in 2016. eMarketer reports that there were around 82.5 million mobile phone P2P payments users in the United States alone.

It is estimated that over 50% of these users will make at least one P2P transaction per month by 2022.

Thus, P2P payments phenomena are quickly growing momentum. And that is simply because of the convenience that it offers to users in transferring funds via a secure and easy environment.

How Much Does it Cost to Create an App Like Paypal

An application like PayPal is a complex entity, especially with its set of security measures. Other parameters that come into play are team constitution, third party integrations, location of the development team, list of features, etc.

Based on the features discussed, Android and iOS apps can cost anywhere between $ 100,000 and $ 150,000.

Similar Apps

There are many players in the online payment app segment that are constantly competing with one another to gain market share. So, when you are developing a PayPal app, it is wise to evaluate your immediate competition.

Take a look at some of the well-known payment apps currently operating in the market:

Venmo
Zelle
Cashapp
Transferwise
InstaRem
Remitly
MoneyGram
TorFX
WorldFirst
OFX

Read Also: How Much Does it Cost to Create an App Like Mint

Conclusion

With P2P apps being the new trend in the financial segment, you won’t be wrong to go ahead with creating a PayPal app or something that closely resembles it. But you will need a lot of help with the actual process.

At Redbytes UK, we have experienced team of developers who have worked on similar high-end projects in the market. With years of industry exposure and hands-on experience, your project could not have been in better and more capable hands.

So, what are you waiting for? Let’s create wonders together. Get in touch.

10 Best Free Budgeting Apps UK

Posted on November 14, 2019 by Redbytes UK SEO

With smartphone constantly enhancing your life, it has become easier now to manage and control your everyday finance. Mobile apps provide the simplest and smartest way to budget and curb your spending habits.

There are great, highly accessible free budgeting apps in UK, that you can install on your Android or iOS device to keep track of your spending, monitor money in and money out and plan your financial goals for better savings.

Money management is as challenging as money making, and one reckless spending can spoil your monthly budget. In UK, if you are helpless to your spending habits, you just need some free budgeting apps on your device.

Many of these free budgeting apps compile all your accounts in one place and make it easier for you to manage your finance, control your spending and improve your budget goals without switching to different banking apps.

Read Also: How To Build A Personal Finance App

If you are a UK citizen looking for budgeting and money management solutions, you can consider these 10 best free budgeting apps

Money Dashboard	Mint
Bean	Emma
Wally	Yolt
Monzo	Personal Capital
Cleo	Moneyhub

1) Money Dashboard

This app gives you a read-only window into all your financial activities to keep your budget in control. It connects with all your accounts to bring all the information in one common attractive dashboard, so you can make better budgeting decisions.

It has organized charts and graphs to track your spending habits in categorized way for six months. You can get a clear idea of ways to save some pounds.

Features

Precise tracking of spending
Collates all your bank accounts in one place
View all your financial activities and spending
Neat charts and graph to know your savings each year
Shows you the effect of everyday routines on total savings

2) Mint

This popular budgeting app is enriched with impressive range of features to help you manage and track finance coming from financers like banks, credit card companies, lenders, etc.

It is quite a handy budgeting tool that puts spending and transactions in specific categories such as credit or debit cards.

Features

Track transactions with all finance providers in one place
Array of features to help with money management
Categorized transactions and spending
Customizable budget that incorporates user needs
Notifications and alerts in the event of exceeding your budget
Provides category-wise overview of cash flow each month

3) Bean

If you are determined to turn your budget around, then this app will help you shop smartly. It shows you awesome deals on all your general spending such as house bills, insurance, interest and more.

All you have to do is connect the app with all your existing financial connections in a read-only format. The budgeting app will change your mind for weekly magazine or other overpriced streaming subscriptions in order to balance the spending Vs savings.

Features

Encourages you to shop smartly
Directs to best saving options by controlling spending urges
Helps you focus on better pocket-friendly deals
Integrates all financial connection read-only
Shares tips to economize and shape up your budget

4) Emma

Emma gently pushes you away from the pit of spending and adds to your saving each month. Emma in Jane Austen’s style shows you read-only picture of accounts and cards and stops you from increasing your expenses.

The app is built on the concept of affordable savings to slim down your budget while also letting you live happily.

Features

Helps you achieve affordable saving target each month
Stops all your unnecessary expenses
Gives read-only accounts view
Keeps budget goals maintained
Sends buzzes when busting set budgets on overpriced items
Reminds you of high bank fees and related deadlines

Read Also: 11 Best Personal Finance Apps 2023

5) Wally

This famous budgeting app respects those who love old-school approach to banking. You can try this unique old-fashioned banking app to manage your money and boost savings.

It is slick and elegant and built for those who don’t fancy open banking and don’t mind doing the hard work of entering the data themselves. It shows all accounts with ability to set weekly budgets and savings targets.

Features

Slick and stylish app design
Creates read-only format from manually inputted data
Technology supports conventional non-open banking
Get insight and alerts about spending
Setup weekly budget and saving goals
Group joint accounts for ease of management

6) Yolt

This app is perfect for tracking your spending across multiple accounts. Like many other free budgeting apps in UK, this app also elevates your saving. But it doesn’t just act as read-only finance management app, as it also allows you to transfer money to different accounts.

Here, you have access to charts that show the graph of spending history and reports. You can easily set your budget goals and spending target.

Features

Great for tracking spending across multiple accounts
View all of your accounts in one place
Set budget goals and track your bills
View Spending reports for spending target
See charts that highlight spending history
Easily transfer money between different account

7) Monzo

With this app, it is easier to view the lucid summary of spending and also set up budget goals. The app uniquely offers a little more than other usual apps focused on budgeting. It sends instant notifications of transactions and allows you to set up direct debits and standing orders.

Unlike static budgeting tool, this budgeting app also lets you pay people. It helps you save surcharges and fees on spending abroad. Its amazing feature ‘coin jar’ sets the payment to the nearest pound, putting away extra money as saving.

Features

Set spending budgets
Clear summary of spending
Set up direct debits and standing orders
Instant notifications
Pay people within the app
‘coin jar’ feature allows you to save some cents with the nearest pound
Withdraw cash or spend it abroad without unnecessary fees

8) Personal Capital

This app is your tech-powered investment adviser that you can rely on without paying a cent. The great investment and purchase tracking tool, Personal Capital is a hybrid combo of robot and human advisor service that offers money tracking dashboard packed with impressive budgeting features.

It favors your saving goals by emphasizing the use of investment tools that automatically analyze asset classes, investment fees, etc.

Features

Unique budgeting tool for investors
Saves money through sensible investments
Offers handy investment side of tools
Automatic analysis of investment fees, assets and more
Not a typical cash flow management and budgeting solutions
Automated tracking of purchases across linked accounts

9) Cleo

Robo money management and saving advisers are picking up a pace now. Based on artificial intelligence that drives the finance of many banking apps nowadays, Cleo uses AI (artificial intelligence) to deliver effective spending and saving solution.

Unlike everyday AI built to improve general human life, Cleo’s chatbot assistant has read-only access to your accounts from which it generates informative answers to your queries regarding spending history and saving. There are also charts and graphs to show you the spending summary.

Features

Smart finance management chatbot assistant
Good for generating quick, reliable spending and saving advises
Gets you better control on your spending and budget
Graphs and charts showing your previous spending

10) Moneyhub

This is a handy spending-oriented budgeting app that not only mirrors your spending habits but also maintains your data privacy. You get this excellent spending analysis tool that gets you detailed insight about spending history across all your linked accounts, so that it is easy to set spending targets.

The app also sends notifications and reminders for due bills along with financial advice.

Features

Set up spending targets to meet your budget
View all your accounts in one place
Receive notifications and reminders for due bills
Receive financial advice if needed
Comes with monthly subscription

Read Also: 13 Best Money Making Apps 2023

Conclusion

Based on our thorough market research and reviews, we could sum up these 10 free budgeting apps in UK. You may read all about their features and usability and try a few before finalizing on the one that perfectly suits your budgeting needs.

15 Must Have Features in Auto Insurance App

Posted on October 22, 2019 by Redbytes UK SEO

Huge amount of funds are being spent in the automobile sector in advancing the concepts of self-driven cars and complementary safety systems that will make driving a more secure experience.

According to the Annual Global Road Crash Statistics released by the World Health Organization, road crashes cost a whopping USD 518 billion per year and are predicted to become the 5^th leading overall cause of death across the globe by 2030.

Continuous researches and development have been able to reduce the number of car crashes. The introduction of six airbag systems and security tools has been able to minimise the extent of potential injury to the driver. Having said that vehicle still remains largely prone to damage in the event of an accident.

Read Also: How To Build A Personal Finance App

The Need for Auto Insurance Mobile App

The insurance industry is undoubtedly thriving with the number of vehicle accidents rising every year. And repairing these damages to the vehicles is an expensive affair which is why the majority of vehicle owners opt for insurance services.

Having an appropriate motor insurance can save vehicle owners from hefty expenditures of repairing and servicing. Between 2015 and 2016, the auto insurance sector saw a wave of innovating and digitization.

In order to scale these insurance related services to improve customer accessibility and reach, insurance companies were keen to develop auto insurance app with suitable features, as their way forward into the digital future.

With an auto insurance app, insurance companies can be open to more prospective leads by being able to significantly expand their reach. Communicating services and prices through the app to the prospect’s fingertips additionally gives them competitive edge.

With nearly 1.25 million people killed in road accidents each year and another 20 to 50 million individuals being injured and disabled has led to a massive rise in insurance claims too.

Therefore, it makes absolute sense to have a mobile insurance app that streamlines the process. It allows customers the opportunity to leverage the potential of technology to raise their claims online.

The communication with the insurance company is basically hassle-free in this instance.

Creating an Auto Insurance App

Creating a mobile application for the insurance segment can be slightly tricky. One has to understand the basics of the industry first. The three primary factors involved are:

The insurance company or the insurer
The policyholder or the insured
The providers of services covered by the insurance, for example, car repairs in case of an auto insurance

The insurance application should ideally cover all three of these segments in one application or separate applications. In the case of a combination app, the user, upon registering should be able to navigate and access information for the section that is most relevant to him or her.

However, that may have its disadvantages.

The user is compelled to choose a role which is an added step to the registration process. The global revolution is focussing more on acceleration and simplification of processes which is introducing fewer steps to make the customer experience more enhanced.

The application will require 3 times more space as it combines 3 segments of the insurance company making it quite heavy. It also translates into more processing power, resources and space on the mobile device.

Having three interconnected apps will help you to add more features when your application becomes too heavy. If three apps are sounding a bit too much, you can consider building two applications – one that caters to your clients and the other for your employees.

Overall, you will find that the effort will be worth the effort of having two applications in place.

Top Features to Include in an Auto Insurance App

The benefits of developing an auto insurance app for your insurance business far outweigh any negatives.

However, you need to ensure that the auto insurance app does have some of the necessary basic features that will enable you to improve levels of service, building customer loyalty for your brand and expand your reach to a wider audience base.

Here is a list of the must-have features in auto insurance app:

1) User Profile

The primary feature of any mobile app is to ensure that the user experiences a simple process of integration. The users should be able to create a profile in a short span of time.

This is possibly one of the most important features that your developers will create for an auto insurance app.

2) Quick Registration Form

The majority of apps will require its user to register on it. With the help of a quick registration form, clients can simply register on the application by inserting their insurance policy number.

Read Also: 11 Best Personal Finance Apps

3) Information about Vehicles

Once the user has registered on the app, he or she will have to provide details of the vehicle such as the model, manufacturer and year of purchase.

5) Push Notifications

This is an extremely vital feature of the application as you need to constantly communicate with your user base.

Through push notifications, you can notify users on any changes in the claim process, share reminders on policy renewals, and any relevant information concerning the auto insurance industry.

6) Documentation

To file an insurance claim, the policy holder must upload pictures of all relevant documents in the app.

Therefore, having functionality where your app allows users to scan their documents and submit them is a must-have. This makes the entire process more real-time.

7) Prompt Pricing

With a pricing functionality, your users can explore pricing quotes depending on their requirements. They can insert the parameters in the application that customers can fill in and gain access to a variety of different quotes that is most relevant as per requirements shared.

8) Claim Filing

This app is an absolute must. The idea is to make raising claims easier and more accessible for your client. Integrating a chatbot here further minimises paperwork.

Users can file the claims themselves without having to physically go the insurance company’s office or reach out to an agent to help them. This greatly optimises resources and enhances the service quality at the same time.

9) Geolocation

This feature will assist your clients to find your workspace conveniently. Additionally, it can also enable the insurance provider to track customer movements.

10) Telematics

This is one among the innovative features that is a fantastic functionality to have on the auto insurance app. Using GPS on the smartphone in combination with artificial intelligence, gyroscopes data and accelerometers, data collected can be analysed to measure customer’s driving expertise.

The driver will have to test this out for over a two week period. The app, during this time, is able to identify patterns in the customer’s driving behaviour.

Aspects that are measurable through this app include locations frequented by the driver, smartphone utilization during driving, the duration of time that the vehicle is in use, if traffic rules are being followed by the driver and any change of roads.

Once the insurance company has access to this information, they can use it to determine the auto insurance premium for the policyholder.

If the driver is low risk because he or she has been able to clear all safety parameters, then the premium amount will be reasonably low.

On the other hand, if the safety risk is considered to be high, the same will be reflected in the premium amount quoted by the insurance company.

11) Policy Review

The ID screen is the personalised space on the app for the user to access his insurance related details. This can be added as the Policy Review screen where your customers will be able to take a look at the policy number, type of policy, premium payments, renewal dates and vehicle specifications.

12) Filters

The majority of drivers will opt to go with a low premium paying auto insurance policy. In fact, some drivers may have separate requirements.

Depending on these needs, the app developers can insert filters to draw more suitable policy options for these niche users.

13) Customer Support

The support service for any business is vital. These key interactions determine whether your customers stay loyal to your insurance brand in the long run.

Having a dedicated customer support service screen is a definite feature that you should have on the auto insurance app.

Some of the possibilities of customer support functionality that you can choose from are:

Integrating chatbots that allows users to get their basic queries and questions answered promptly
Live chat support plug-ins can give users access to experts to get solutions to more complex issues
The customer support screen can also double up as a claim processing platform with users having access to updated insurance details.

This leads to better resource utilization and minimised operational expenditures for the insurance company too. With a more compact team, you can offer better service to your customers.

14) Multi-lingual Assistance

With globalisation, it is imperative for apps to offer the multi-lingual assistance to their customers. This opens up a wider audience base for the insurance company too.

15) Payment Gateway

The most important feature to include in your mobile app is the payment gateway. In order to process purchase of services, policies, etc. the payment option needs to be enabled on the app.

Think of using multiple gateways such as debit cards, credit cards, net banking and even wallets like G Pay.

Read Also: 10 Best Mobile Banking Apps

Future of Auto Insurance Apps

The concept of ‘one size fits all’ is no longer valid in the world of auto insurance. Innovative products such as ‘Try before you Buy’, ‘Pay as you Drive’, etc. are enticing more a more millennial.

There is a distinct shift in user behaviour which insurance companies should adapt for a rapid pace. The future of the insurance app has a lot to do with customisation and personalisation according to client requirements, hence the features may vary accordingly.

Therefore, whenever you choose to build your auto insurance app, ensure that you have done your research and peg user satisfaction as your criteria for the application is success.

How Much Does It Cost To Develop An App Like Mint

Posted on October 4, 2019 by Redbytes UK SEO

There are over 2.7 billion smartphone users across the globe. The mobile application market is naturally growing at a very fast and at a steady rate. With the continuous development of technology, the users are available to facilitate this rapid adoption of technology with ease making the industry thrive with loyal customers.

It is also estimated that by 2023 that this market will have a revenue worth $189 billion. Thus, building an application for your business can get you the perks of staying ahead in your league and at par with the leading competitors of your niche.

Technology today has taken over all aspects of every individual’s life and finance is also under its umbrella. For a generation that loves to have everything on their fingertips, wouldn’t it be great to have a singular solution to all of their financial problems?

We are talking about apps that have changed the way people view finance. Award-winning apps like Mint provides financial tools not only to individuals looking for better budget trackers but also provides solutions to businesses.

A financial application of your own can be a great advantage for your business idea and put you ahead in the market competition. If you are looking towards to develop an app like Mint, its very important to know about the cost of development and features to be included.

Read Also: 11 Best Personal Finance Apps 2023

What Does Mint Do?

Mint is the brainchild of innovator Aaron Patzer which was initially introduced to focus solely on the US and the Canadian markets. With time, it grew to provide a solution beyond budget tracking.

It has systems like TurboTax and Quicken to look after the accounts and taxes of its clients. It is a rather compatible application and is available on almost all operating systems including Android, iOS and Windows.

The financial solution they provide to the customers are well-suited according to their habits and can help them prepare for a more secure financial future. It has more than 15 million active users and is reliable amongst its audience.

The users can keep a track of their expenditures, loans, credit cards, mortgages, bill payments and do their financial planning accordingly.

The users can provide the information related to their accounts and expenditures while the structured database of the app will provide budget tracking solutions. The users can track their transactions and get structured details of it on the app.

The ease of using the app is what makes it so popular among people. The budgeting tools and solutions are flexible, well-integrated and customized according to the users. The users also receive regular updates or reminders through various communication channels.

The app is well categorised and the customers have the option of evaluating their assets and liabilities. Not only this, but it is a platform that will track the spending and suggest options to save money.

The cost to develop an app like Mint will depend on a lot of factors. Thus, before getting into the details of the cost structure it is important to look at certain aspects of its developmental processes.

Things to Keep in While Developing an App Like Mint

1) Data Security:

This should be the most important concern for your app development team as your target audience will prioritise on this aspect the most.

A finance management app requires its customers to insert their bank details. Any breach of security will lead you to face legal issues and will downgrade your business’ reputation in the market.

For a long term goal, it is better to develop a system that assures its users of multi-level security. The information databases must be secure and the data must be effectively used.

This aspect must also be checked regularly and ways to improve data security must be introduced and updated regularly.

2) Data Collection and Recovery:

Your users will be having multiple accounts on various platforms. Thus your app must be compatible enough to the level so that it is able to support all the information and utilise all the information effectively.

The users must also have the liberty to choose and erase the data from the database and recover it on another device. Data stealing is one of the primary concerns and must be looked after by your app development team.

How Much Does It Cost to Develop an App Like Mint?

Keeping in mind all the factors to perform well in the market, your app must have an attractive design. Most importantly, it must be user-friendly and with a smooth interface.

Charging an additional cost from your users might turn into being a disadvantage as your competitors are already doing it for free. The algorithms must be updated regularly to provide improved and efficient strategies to your customers.

The cost to develop an app like Mint will depend on the features you want in there. Here are some factors that can affect your expenses on developing a financial application.

Basic Features of Your Application

What features do you exactly need? How do you want your application to function? What will the basic structure be like? Discuss these aspects with your team and prepare a basic structure or an outline for your application.

If you are low on budget, keep the features simple and customized rather than hopping on the bandwagon of blindly following trends. More feature will cost you more.

Prioritise your needs and plan the features accordingly. Extensive market research will help you manage your app development costs.

To cut down on your expenses, you can proceed with your developmental process with the ready made templates already available. A wide range of pre-built features is available at a much lower rate as opposed to custom-designed ones.

1) Advanced Features

You might be thinking of getting a customised UI/UX design for your application or maybe that one attractive feature. A better UI might improve and provide a better user experience, but customizations will increase your expenses to some extent.

Remember, you can always add more features even after the launch of the app.

2) Application Development Team

Whether you hire freelance developers or get yourself a team working for you full-time is going to be the factor determining your overall costs. While choosing freelance developers or outsourcing can be effective money wise but it will be a problem in the long-term.

A finance app needs to be updated and bugs need to be fixed quite regularly too. In such a scenario, choosing a team can be a better option as the team of the developers can fix the problems in a short and effective period.

3) Compatibility of The App

Mobile applications are mostly divided into two categories based on their compatibility- Native and hybrid. A native app is good to work on only a specific operating system whereas a hybrid app is more compatible and works on all operating systems effectively.

While choosing the native way, it will require your team to code separately for different platforms. A hybrid app will save up on both your time, money and effort.

Differentiation between the two categories must be done while keeping in the business needs in mind.

Read Also: How To Build A Personal Finance App

4) Costs After the Launch

The cost to develop an app like Mint might also vary significantly after the launch of the product. Constant updates on improving the features and functioning, resolving customer issues and providing them maintenance support, all of this might add up to the costs.

You might also need to get legal licensing or certifications for your applications which will also cost you something from your capital.

What Features Should Your App Have?

1) Ability to Link to Various Accounts:

Owning several accounts is a common thing nowadays. Your application must be user-friendly and have the feature that lets them connect various accounts to your finance app.

The algorithm of your app must be designed to assess the data efficiently and provide better and personalised money tips. The tips must be easy to implement in the lives of the users. This will keep them engaged to increase the reputation of your app.

2) Monitoring Transactions:

The application must allow the users to monitor their expenses wisely- be it credit or debit cards or any online monetary portal. The user must be able to avail all the useful information under the same screen.

All the online payments, loans, card transaction and due payments must be easily accessible to the user.

3) High-End Security:

The application must be secured with different levels of security aspects. This will bring credibility to your brand’s name.

4) Financial Targets:

The app must have a feature that lets users set financial targets for themselves. This can be anything from buying a car to planning a vacation.

The algorithm must be suitable to fit the varied needs of the users and provide them with ways they can achieve it. The track down of records, short-term goal setting can help them reach their target more efficiently.

5) Regular Updates:

To keep your audience engaged you can also send them regular updates through communication channels like email and text messages.

These updates can be about some unusual activity on their account, target achievements or updates on their expenditure.

Read Also: 10 Best Mobile Banking Apps 2023

Conclusion

While an application like Mint comes with a series of solutions and are undoubtedly the best in their league. They have strategies that have proven to work among their target audience.

It thus becomes primarily important to know your target audience first. Market research and advice from experts can help you with that.

It is also crucial to understand that features can always be added afterwards and cost to develop an app like Mint. If you are low on budget, then maybe you can start with a cheaper process and then move on the expensive features according to the revenue generated.

Innovation is something that can get you going in the business for a long time. Even the existing financial solutions have certain problems to fix. If you can identify them and have a unique solution for these problems, then your app can be the next big thing.

11 Best Personal Finance Apps 2023

Posted on August 17, 2019 by Redbytes UK SEO

A wide variety of smartphones and mobile apps are easily available now and this has enabled individuals to manage their personal finance in a better manner.

It is no longer a challenging task at all and you avoid wasting paper altogether. All that you are required to do is run a simple app of your choice on your smartphone or tab. The records can be easily stored and backed up digitally.

They can be retrieved as and when required form anywhere. Having said that here is some information about the 11 best personal finance apps that you can consider using:

Mint	You Need
PocketGuard	Wally Next
Spendee Budget	Dollarbird
Monefy	Prism
Albert	Goodbudget
Acorns

Read Also: How To Build A Personal Finance App

1) Mint

The app Mint helps you to organise your expenses so that they do not exceed your income. After downloading the app, you are required to link all of your credit and debit cards to your account on Mint.

You can also link your savings, deposit and investment accounts for a comprehensive analysis. In addition to keeping track of your investments, the app provides forecasts on them.

Mint analyses your expenses and gives suggestions on saving money. Finally, Mint tracks your bills and even credit history.

2) You Need A Budget (YNAB)

YNAB can be downloaded on to both Android and iOS devices, which enables you to manage your spending well.

It allows you to employ the four main rules of budgeting: allocation of money for specific purposes, dividing large expenses into smaller ones, dynamically changing the budget depending on the situation, and not spending money as soon as it is received.

All bank accounts and cards can be linked to YNAB and synchronize your account on the app with all your devices. Money transactions are presented as charts and graphs.

3) PocketGuard

PocketGuard is one of the best personal finance apps, available both on Google Play for Android devices and the App Store for iOS devices. If you are a person that likes the minimalistic modern design and want to control expenses, then this app is for you.

You can add all your savings, loans, and investment details on to your PocketGuard account so as to get a clear picture of your financial status. The app analyses your fixed and regular expenses and you can use the information to prepare an expenses budget for one month or six months ahead.

If you set an expense limit for each item, you will receive notifications when you hit a certain level. Invoices are sent directly to the app and all money transfers are protected through special codes to ensure security.

4) Wally Next

If you are looking for a personal finance app that provides you with a better understanding of your financial status visually, then you must consider Wally Next. This app analyses presents all information related to your personal finance in the form of graphs and diagrams.

It enables you to become more organised as you can add and manage all your accounts from one Dashboard. Wally Next has the ability to even take into account international payments, currency savings, and other transactions when analysing your wealth.

The app also allows you to keep track of your past payments and reminds you if there are recurring payments. Auto-payments set up option are also available. Wall Next is available for both iOS and Android phone users.

5) Spendee Budget and Money Tracker

‘Spendee Budget and Money Tracker’ allows you to not only manage all your credit/debit cards but also your accounts, deposits, and currency savings directly from your iOS or Android device.

The app carries out all analysis through full bank synchronization and allows you to link even your electronic wallets including PayPal and foreign accounts. The good news is that this modern application allows you to track even your cryptocurrency savings.

Total expenses for a month can be easily determined on the closing day and you can set up payment alerts with reminders. It has info graphics capability which enables you to see all data. It also allows you to create separate wallets to allocate funds for special occasions.

Read Also: 10 Best Mobile Banking Apps

6) Dollarbird

Dollarbird’s unique design and functionality attracts attention immediately. Though it cannot be considered as a standard cost planner, this stylized calendar helps you to record all your costs and expenses.

These personal finance apps work on the basis of how frequently you spend money. To keep track of payments, you just have to enter them into this financial calendar. Dollarbird cannot be synchronised with any of your accounts and it keeps all records in the same currency.

However, it is very easy to use. Moreover, all expenses can be easily classified quickly. Further, the app’s AI-based system provides smart hints. All data entered into one of your accounts through one device can be accessed from other devices as well.

7) Monefy

Have you ever felt that controlling your spending is difficult? Are your expenses unexpected and spontaneous? Do you want to end the same? Why not give the Monefy app a try on your device?

Apps enable you to keep a comprehensive record of your personal and business finance. You just have to add the details related to the cup of coffee, croissant, or business lunch you had at a café. As the app helps you to track the main expense items, you can quickly make a decision as to how you can reduce it.

You can make use of your DropBox account to synchronize your devices and even add accounts of other people to a list of synchronized devices.

8) Prism

Prism is designed in such a way that it helps you to control and remind you of your ongoing payments such as utility bills, loans, and mortgages, and rentals.

You can pay all of your bills, track your expenses as well as personal finances, and view balances in investment and savings accounts. The smartphone app allows you to track your loan and credit repayment dates, payment history, and the total amount due.

On the day of the reminder, you may make all payments for free. You will have to set up the notification system on your own but Prism’s exclusive offers even allow you to save some money.

9) Albert

If you find it difficult to accurately calculate your budget, then Albert is one of the best personal finance apps for you. The app does not allow you to keep your money idle. It determines as to what your expenses are and how much you can save without any compromise on your interests.

The app transfers this amount to the Albert Savings account allocated to you. Albert performs the calculations with the help of patented and specialised algorithms which are highly effective.

Your basic finances are not impacted, but you will be able to accumulate an impressive amount over time. As the savings are insured, your funds will be safe. The reserved amount can be withdrawn at any time.

10) Goodbudget

Goodbudget is designed to remove the confusions associated with budgeting and make the whole process easier for you. The app makes available thematic “envelopes” just as in real life for you to keep apart money for specific needs.

The payments can be made only from the specified envelope. This allows you to exercise control over your expenses. The app also allows you to stop spending before the allocated money is completely wiped out.

The app’s free version makes available only 10 envelopes. The subscription version enables you to create an unlimited number of envelopes, synchronise up to five devices, and budget expenses in advance.

11) Acorns

If you believe investing is risky, it is not true. Acorn was developed to reduce the risk of you losing your money. The app invests your funds without any participation from your side. It takes money from the daily purchases you make and it will not be visible when you track your costs.

The amount taken is very small and it does not create any major impact on your overall financial situation. It also allows you to make disposable investments on your own.

All money is insured there is no risk involved. Acorns will show to you that you are not required to have huge amounts for investments.

Read Also: 10 Best Stock Trading Apps

Conclusions

In conclusion, all of these personal finance apps are available for both Android and iOS devices.

Your income and expenses may change every month, but you can keep your finances stable if you enjoy a steady income and have to take care of a few regular expenses.

How to Build a Personal Finance App

Posted on August 6, 2019 by Redbytes UK SEO

In the times of increased money flows, these have to be effective indeed. A few years ago, individuals had their methods of accounting income and expenses and managing their finances.

However, today things have been made simpler with the advent of technology. Personal finance apps can be downloaded and used to every according to the individual’s specific situations.

As you know, there are many such personal finance apps. However, you also can make a good one if you want to. For this, you must make sure that the personal finance app that you are going to build is secure, has useful features and is intuitive.

In this article, we attempt to show you how you can build a personal finance app. You can read, understand and then go on to build your finance app. All the best!

Read Also: 10 Best Mobile Banking Apps 2019

Personal Finance App – What is it?

Mobile finance apps are the rage of this age. These help you to calculate expenses on the go and help to ease out the monetary cycles of individuals.

Personal finance apps of today are designed to perform specific tasks, many of which are simple but important. On the whole, they are built to help the user manage his/her financial budget.

Any personal finance app is designed to perform the following functions:

Help you to strictly control your finances
Keep track of both income and expenditure
Make regular payments for different services
Design a budget and suggest that you stick within the budget by constantly tracking the savings that you have
Help to make money

The app can be designed for small savings and investments at a personal level. When building an app with these functionalities, it is important for the app creator to hit upon a good idea and infuse it with good UI/UX for the sake of the user.

This should be accompanied by a robust package design for it to become a hit.

Popular Personal Finance Apps

It is estimated that 4 out of every 10 people in the UK regularly use personal finance management apps. Most individuals with busy schedules find it helpful to stay on top of their money by logging into a safe, friendly and simple to use personal finance app to manage their finances.

The most used personal finance apps in the world are Mint (over 30 million users), Money Lover (over 1 million users), Level Money, Wally, YNAB, etc.

Personal Finance Apps – Different types

There are two different types of personal finance apps that are classified as follows:

Those requiring data to be manually input. These are usually simple applications with minimum complications.
Those where the data entry is automated. These apps usually have complex services for automatic data input.

Some important features of Personal Finance Apps

When you build a personal finance app, it is important to have a clear idea about the functions that the app will be able to perform.

The most important features of a personal finance app are as follows:

User authorization
Creation of personal account with all information about the user; a profile of the user
Capability to link all of the financial details such as debit/credit card details, money wallets, mail accounts, etc.
The ability of the app to track every financial transaction of the user and store it appropriately
Ability to set up daily and monthly budgets
Capability to generate different statistical reports for specified periods enabling comparisons of amounts that are spent
Creation of expense heads such as food, clothing, petrol, etc.
Reminders for paying taxes, fines and other encumbrances
Appropriate search options
Currency conversions
Payment calendar

What are features that make the personal finance app powerful?

There are some features that a personal finance app must-have for extended functionality and cannot function without. The developer must have these features in mind before setting out to build a personal finance app.

1) Security

The security aspects of a personal finance app are of utmost importance. This is a factor that builds the trust of people on you and increased comfort levels with the knowledge that their money data is being protected.

It is vital to use two-factor authentication (verification using two different channels during login), proper encryption of transmitted financial information and making short-term sessions so the period for which the programs run unprotected are minimized.

In addition to this, other important points include the usage of appropriate fonts and use of exceptionally secure libraries. These suggestions are not exhaustive and are only some of the recommendations.

With evolving technology, developers have to think of better methods to solve security threats and challenges.

2) Think as users

Start to think as your user does and create the app according to their needs. If you want to target the millennial, then speak in the language they understand and use.

Read Also: 10 Best Stock Trading Apps 2019

3) Make it simple

Complicated programs do not impress many people, therefore it is important to keep the personal finance app as simple to use as possible. The app should be such a one that it takes no more than 3 clicks to get the desired job done.

This leads to better user experience. Money management apps allowing the user to make payments through the app should have only an optimum number of screens for executing payments and should carefully conduct all the verifications and enable transactions.

4) UX Design

The design of the app, as mentioned above, should be simple and appealing. You should rope in the services of a UX/UI expert to build a visually pleasing and simple but functional app.

5) Customer Support

Customer support 24/7 is of great importance to help your clients with whatever problems they may have. A quick response that is round the clock and in different languages will get you a loyal, global clientele.

6) Responsiveness

With evolving technology, there are more devices that house finance management apps. Therefore, your app should be one that works on multiple platforms (Android &iOS).

Moreover, the app should be comfortably used on different devices with varying screen sizes. All these should be taken into account during the app development process.

Market Strategy

Finally, you should understand that reaching your finance app to the clients is not a very easy job either. You have to be very clear about how you are going to deliver the app to the users in the market.

This go-to-market stage involves defining the value, exploring the various market channels, and creating a detailed interaction map separately for each of the channels.

Cost of the App

The pricing of the personal-finance app should include the costs incurred during the development stage, design stage and marketing stage.

How You Can Draw More Users

Today, some ways to draw more users to your app could be one of the following:

Provide expenses analytics and pictorially depict amount spent on individual expense heads.
Show the cheapest vendor for products or services that are usually purchased by the app user
Scan receipts and enlists the figures to the appropriate expense head

Read Also: 13 Best Money Making Apps

Endnote

In case you have decided to build a personal finance app, be sure there is a lot of hard work ahead which will bring its rewards. It is vital to arrange the workflow so that you complete the project.

It is also important to build an app that recognizes the users’ pain points and helps to sort out these issues in a simple manner.