FinTech has been on the rise since the turn of the 21st Century and analysts estimate the sector’s revenue generation will reach $4.8 trillion in 2020. A healthy mix of traditional banks and upcoming startups gives the industry a strong outlook for future growth. Successful cross-platform FinTech apps reach users across as many platforms as possible, including iOS, Android, and Windows OS. Frameworks like .NET Core, React Native, and Flutter are helping to make this happen. Let’s dive into how you can emulate some of the best financial apps that run on all platforms.
Boasting 48 million users (as of 2021), Nubank is one of the largest neobanks in the world. It operates in Brazil, Mexico, and Colombia, with the majority of its user base coming from Brazil. Nubank offers a range of financial products for individual consumers, including a digital account, loans, or investments. Its offering also includes a business account aimed at small business owners and entrepreneurs looking to track their cash flow better.
Nubank’s app is available on Android and iOS, and initially it was managed as a native app. However, challenges with scaling the teams and the inefficiency of developing each feature twice drove Nubank to look into cross-platform mobile development. After exhaustive tests the team settled on Flutter as Nubank’s primary cross-platform technology.
Its switch to cross-platform app development can be easily deemed a success. With the new technology, Nubank’s team launched a new product, life insurance, in just 3 months. Previously, a similar launch would take even up to a year.
Robinhood operates both a website and native mobile apps (thus far available on iPhone, Apple Watch, and Android). Two separate apps (Robinhood Financial and Robinhood Crypto) enable easy investments in stocks, ETFs, options, and crypto assets. The company is FINRA-approved and registered with the U.S. Securities and Exchange Commission.
So far in 2022, Robinhood has launched a new debit card called the Cash Card and extended trading hours as a step towards 24/7 investing.
Intuit’s Mint is an award-winning cross-platform FinTech app and one of the early market leaders. It’s completely free, runs on any platform and connects to thousands of financial accounts so you can fully track your monetary health. This personal finance app is beloved for its simple, intuitive UX, simplicity and overall financial usefulness.
Its sleek interface enables budgeting, credit reporting and more. With over 20 million users and easy integration with QuickBooks and TurboTax, Mint has been making a mint for over 15 years now.
Coinbase is one of the most popular crypto exchanges on the planet and one of few licensed and registered to operate in the U.S. Not only does Coinbase need to be compatible with each OS, but it also needs to support the underlying blockchain for each crypto trading on its markets. In addition to the exchange, the Coinbase Wallet is a standalone crypto asset wallet.
Because of a strong focus on continuous development, regulation is the biggest hurdle this crypto company might face.
5. Tellus App
Developed in 2016, Tellus is a relatively new cross-platform app. The all-in-one platform connects investors, landlords, property managers and homeowners with the real estate tools they need. This FinTech startup is hoping to democratise the mortgage industry and ease communications between landlords and tenants. The platform provides a tenant portal and supports credit checks, online payments, tax management, and vacancy management.
Free to use, Tellus instead opts to take a small percentage from each transaction performed on the site.
If you’ve moved in the past few years, odds are you’re familiar with Lemonade Insurance Company from your USPS change of address package. This full-stack insurance company has raised $120 million and underwrites its own policies with reinsurance from Lloyd’s of London. It has an A financial rating and uses machine learning and chatbots to revolutionise the entire claims process.
In 2016, Lemonade’s chatbots set a world record for approving and paying a claim via an iPhone within three seconds.
Once owned by eBay, PayPal became its own entity in 2015 and is now one of the largest companies in the U.S. by revenue. It started in 1998, with a vision like that of Bitcoin to bypass the traditional banking system. Since then, it has grown into a nearly full-service financial solution of its own, offering payments, loans, money transfers, and more to both personal and business users.
The company closed out 2019 with 305 million active accounts and made headlines by purchasing Honey for $4 billion. This coupon app runs in web browsers to find deals across websites and will give the company a stronger foothold moving forward alongside Venmo and other holdings.
In 2021, PayPal launched the first version of its super app that brings together a variety of financial offerings, from a digital wallet through P2P payments to shopping options and bill pay. And that’s only the first iteration.
Trezor is known as the most secure of the cryptocurrency wallets. Satoshi Labs sells a variety of Trezor-powered hardware wallets, like the Model T and Trezor One. These encrypted USB drives enable cold storage of crypto assets with access through a centralised app on Android and iOS, along with a web-based app.
In addition to its own proprietary apps, Trezor works with a variety of third-party apps, so you never have to worry about holding crypto you can’t use.
9. Cash App
In 2018, Square smartly rebranded its Square Cash app as Cash App to compete with Venmo. The hip-hop world responded with a series of songs, aptly titled “Cash App.” By the end of 2019, Cash App became the “de jour” method of money transfer, with 59.8 million downloads compared to 52.7 million of its PayPal-owned rival.
The combination of solid financials, efficient tech and catchy rap hooks blaring through speakers across the global community makes Cash App a solid cross-platform FinTech app.
USAA is one of the most trusted banks in the U.S., and it’s available exclusively to members of the Armed Forces. Compared to its main competitor, Navy Federal Credit Union, USAA simply offers more. There are more services and products available through the mobile apps, setting a bar for banking services across the country.
Whether you need insurance, banking services, a loan, mortgage, or more, USAA can handle it.
Make room for FinTech cross-platform apps
With such a competitive FinTech landscape, traditional banks certainly aren’t laying down to surrender easy. The examples above prove that FinTech is a competitive space, with every niche filled by both specialty-focused startups and full-service enterprises. Identifying the unexplored ones and perfect timing in product development is only one side of the coin – to set yourself in the FinTech Ivy League, you need robust technological solutions and a product development team that understands the nuts and bolts of cross-platform app development.