How to Build a Fintech App in 2024: Step-by-Step Guide
Fintech is the industry that is leading the global growth rate. This is quite logical, as it is characterized by security and convenience when compared to traditional forms of financial services. The major factors that have accelerated the development of this industry are the growing consumer demand for online financial services, increased adoption of innovative technologies among banks and financial institutions, and recent socio-economic changes due to the pandemic. As a result, more and more traditional financial institutions as well as technology startups are looking to develop their own…
App Maintenance Costs and How to Reduce Them
The application development lifecycle consists of the planning, development, deployment and maintenance phases. Each of these phases is associated with certain costs and expenses. Before the start of application development, every entrepreneur is faced with the task of choosing the most suitable price contract: time and materials or fixed price. In the development stage, it is essential to consider the salaries and wages of the app development team. The deployment phase includes the cost of installing and configuring servers,…
Time and Materials vs Fixed Price: Which Fits Your Business?
Money and deadlines are the two aspects that concern entrepreneurs the most when they want to develop an app or a website. This is not surprising, as everyone wants to save money and realize their idea as soon as possible, as time plays against them in the highly competitive IT world. When searching for developers, the entrepreneurs should pay attention not only to their professional skills, expertise and experience, but also to the pricing contract they use. The early outsourcing contracts were traditionally based on a fixed price model, but nowadays, another business…
How to Reduce App Development Cost?
How to create an app and not go bankrupt? How to reduce the app development price? Sooner or later, every entrepreneur asks themselves these questions. It's good if this happens before the start of app development. However, it often happens when app development expenses are already out of control. What does this mean? The entrepreneur and the development team had agreed on a certain amount, but the budget has long since exceeded the acceptable limit. This is the worst nightmare for any entrepreneur who dreams of bringing their idea to life as quickly as possible, but the developers fail…
Is It Easier to Build a Website or an App?
When entrepreneurs have an idea of launching a product or service, they are usually impatient to bring it to life as soon as possible. But what is the best way to realize this idea? Is it in the form of a website or an app? Entrepreneurs need to find answers to these questions by considering price, speed of development, advantages and disadvantages of the two approaches. If we don't go into detail, a website is easier to develop. But! Websites and applications can come in various types, each serving different purposes and…
How to Protect an App Idea From Being Stolen
In 2007, a Motorola engineer named Hanjuan Jin was stopped by customs agents at O'Hare Airport. When they searched her carry-on luggage, they found Motorola documents marked "confidential and proprietary," $30,000 in cash, and a one-way ticket to Beijing. As a result, the woman was arrested. She was later found guilty of theft of trade secrets, but acquitted of involvement in economic espionage for China. When entrepreneurs read news like this, they…