The era of a Minimum Viable Product (MVP) is over. The market is going with minimum loveable product, which is an iteration and a whole new approach at the same time. MVP stands for an application that holds minimum value for users and assumes a certain level of tolerated limitations and bugs. MLP, on the other hand, is created with initial offering that users can love from the start. It’s a dramatic shift in software development and product management.
Author: Jarosław Ściślak
The old ways of creating software don’t match the reality we live in. Users want even more convenience in use and even more value for their money. To meet these expectations, companies use API-first design pattern. It enhances the application’s features and provides companies with a modular and reusable design that’s perfect for creating entire ecosystems. The approach also reduces development costs, optimizes delivery and operations.
Trending crypto events show us how the market is changing. From software itself, through the implementation of innovative payment options, to the job market. Many segments of professional and social activities are changing, because regulators and customers continue to look through the lenses of potential benefits and earnings. If crypto trends for 2022 show us one dominant thing, it’s definitely this – the market is growing exponentially and the hype train is real.
The latest trends in UX/UI design highlight what we all have been observing through the years – mobile-first, wearables, and simplicity that’s paramount to sophistication. Building digital products has never been enough but this time around designers are looking to architect user experience, not around the product but rather around the users themselves. Personalization is the name of the game and UX/UI trends for 2023 are a proof of that.
With the crowded market, growing uncertainty and rising, simultaneous user adoption, investment and development decisions are hard. On one hand, we have recession and glooming crisis on the horizon. On the other hand, people are turning to FinTech for addressing their pain points, comfort, ease-of-use. Let’s see what statistics say about the industry. What trends are emerging and how can you use them for your benefit?
We will break down the article into few sections to help you navigate the landscape. We will talk about the industry size, FinTech adoption rates, expert opinions, and investments. Please keep in mind that this is not a full-fledged industry report but rather a summary. Nonetheless, it will prove valuable in the months to come.
In business, good enough is often not enough. Many people are turning away from incumbent financial institutions because traditional banking can’t provide the level of services they are actively seeking. Meanwhile, FinTech startups introduce innovative service offerings almost every month. Investors keep their eyes open, they don’t want to miss a potential unicorn. Here’s a list of important FinTech investment trends to watch—maybe they’ll bring another industry star.
Many sports fans have a saying, often expressed on a wall of their neighborhood building: “you will never walk alone”. It shows the mass support of the entire ecosystem designed to help the team. The same goes for InsurTech—the future of the industry lies in platforms and ecosystems. Everything in favour of interconnected services, giving the user the ultimate experience.
If you wonder how to choose a tech stack among most popular tech stacks of 2022, then this article is for you. They key to creation of a performing application is to find a set of technologies that will provide the best return on investment in line with functional requirements. The perfect stack in 2022 doesn’t exist. It’s about your vision, and needs.
Blockchain in banking. Sounds like an oxymoron, right? A self-contradicting pair of words. On one hand, a disruptive trend and technology. On the other hand, an industry with legacy software and processes that limit the capacity to compete with agile newcomers. The market disagrees and shows us it can be done. Blockchain in the banking sector is a fact. What does it look like?
We are living in a global society where “point oh” defines and describes the evolution of things. Industry, internet, social phenomenons. We got Industry 4.0 and Web 3.0. Both complement and complete each other. To some extent, both are a natural consequence of one another. What is Web 3.0 and what is its impact on DeFi and the future of finance?
“Open banking standards” is a term used for technologies and regulations used to provide third-party service providers consumer’s banking data. This data can be used in many ways. To provide and keep operational things like web and mobile apps, financial services, and more. To make it all possible, governments issued open banking standards and open banking directives. Since compliance, along with security, is the most vital part of FinTech business, we provide you with a brief list of open banking regulations and application programming interfaces (APIs) standards to watch out for in the upcoming months and years.
October 28th, 2021 marks the date of a big shift. On that day, Mark Zuckerberg announced that Facebook will change the name to Meta, but it’s not the name that got the most attention. The nature of the service will change too. Zuckerberg wants to change a social media platform into a metaverse product. What is a metaverse and how to invest in a metaverse? Especially when Meta will not be the only player on the block?
Code refactoring is basically the process of restructuring an application’s code without changing it. It also doesn’t add up to its behavior and functionality. Its purpose is to make the code more efficient and easily maintainable. How can you refactor the code, what are the detailed benefits, and how can you go about it? Here’s the list of everything you need to know, including best practices.
Central Bank Digital Currencies (CBDC) are among the strong trends emerging today in the FinTech world. The latest digital currency trends show that turning to the elimination of cash, implementing blockchain, and developing digital wallets are pillars of what might come in the future. A cashless society with billions of financial operations per minute. There are, however, counter actions from major markets. China blocked the usage of crypto, Russia is thinking about it. Where is it all going and what consequences to FinTech will it spawn?
Current blockchain industry trends show dynamic changes in adoption and market adaptation. The situation with COVID-19 continues to accelerate business processes; blockchain as well. Companies that already use this solution, expand upon it, finding new implementations and entirely new revenue streams. Firms not convinced, cautiously experiment. No matter what’s what, blockchain trends for 2022 clearly show one thing – the age of distributed databases will continue to go strong, with many opportunities along the way.
The shortest answer? Many companies want to secure their products, digital applications, ways to do business and methods of verifying cash flows. The longer version? The question of “who needs blockchain” should be replaced with “who already is using it and do you need it as well”. You can find arguments for blockchain in a series of our previous articles. This piece is about market confirmation and practical blockchain uses.
Why use blockchain? The answer, contrary to appearances, is no – you don’t necessarily need it. Not every business is better for it. There are clear benefits coming from implementation but applying this technology doesn’t make your company more relevant. It just generates unnecessary costs. However, some products do benefit and here are 7 reasons why blockchain is important in today’s FinTech market.
Creators that don’t implement a dark mode UX in their applications, leave them in the dark. One of the most interesting trends in recent web design is making sure that the product works for everyone. For those who prefer bright displays and those who want to reduce eye strain, especially in the dark. Benefits start there but the list of advantages is longer. What are they and how can you use them to serve the audience?
With multiple developments in the industry, it’s hard to know which trends to follow. What investments to make to assure your company is future-proof? What technologies are making the headlines? What should you be paying attention to, to stay ahead of the competition? With this map of app development trends, you will know what’s around the corner.
Progress can be defined as a way to avoid yesterday’s mistakes. Don’t look up the phrase, I just came up with it. In the world of software development, it holds surprisingly well. Companies perfected the way to create and deliver digital products, now it’s time to use them for a common good. Like green FinTech, which puts additional value on daily commercial activity. Here’s our list of software development trends for 2022. Some of them will be surprising!
FinTech is always bursting with ideas. New trends come and go, applications rise and fall. What’s constant is the consumer’s need to find a tool assisting with everyday life challenges and occasions. FinTech trends in 2022 are special because they sum up an era of product development while pointing towards what’s to come. The market landscape will look like nothing before. Are you ready for it?
Payment processing trends are changing as fast as the entire FinTech does. The COVID-19 pandemic accelerated what has been already in the works. It also created new trends that are clearly visible. If your company is not on board, it will be harder to compete in the upcoming years. What are current payment processing industry trends and how can you react to them?
FinTech innovations are hard to come by. The competition is fierce and there are thousands of companies that do the same thing you want to do. To succeed, you have to find your own voice and recipe. With this list, you can find out what currently sells and adjust the strategy and the product accordingly.
FinTech is for people, not for robots that crawl for data. Apps should be simple, functional and display all information in a way that can be understood by everyone. Tech-savvy Generation Z and seniors. The art of presenting data to a user should involve fun and user involvement, you want people to actively use the product.
Security in digital products, not only in FinTech but in applications in general, is a top priority. Software development clients want to make sure that user data and business logic are safe from attacks. Users want to securely invest in applications through loyalty. Security in Amazon Web Services (AWS) is an interesting topic to view the security issue from three perspectives – the user’s, customer’s and developer’s. Let’s talk about AWS security issues and how to think about them.
Microservices fundamentally changed the way applications are built, managed, and supported after launch. Even more – they had changed the way engineers and managers think about digital products in the first place. With big scalability and potential for quick growth, many managers ask how to build microservices. Here is the world of microservices, best practices, and everything in between.
Contrary to a popular belief, microservices are not a panacea. If something is good for everything, it’s good for nothing. Many managers compare microservices vs monolithic architecture and want to know which is best for the current company’s project. Microservices are a fantastic way to make the digital product agile, and scalable. Monolith is good when you just want something to be done.
What are microservices? They are loosely bound, light services and protocols that can build your application. Highly specialized in nature, they tackle specific topics and handle challenges in a very agile way. Through this specialization, your application can perform better. What exactly is microservices architecture and what are the advantages of microservices?
Both approaches have their benefits but none of them fits all. The more probable occurrence of a serious disruption for your business, the shorter recovery time you should have in place. The point for serverless is to boost your infrastructure architecture. There are other benefits, especially for small and medium-sized companies. Let’s go through them all.
A technology stack is a full set of technologies that companies use to build a digital product or run a project. In it, you have everything ranging from programming languages, frameworks, databases, frontend and backend tools to services accessed via an API. Code & Pepper also has its technology stack. With it, you can quickly build your minimum viable product (MVP) or a full-blown application. How exactly and what comes with our tech stack?
Data is bread and butter in modern companies. Relying on your intuition is important but some tools give you an in-depth look. Combining these two methods produces tangible results. Don’t worry, you don’t have to be technically savvy to use data management tools. You just need to prioritize business goals and figure out how they can help you. Here’s a list of the most interesting business intelligence tools you may find useful.
What is embedded finance? In a nutshell, it’s when a FinTech company puts its solutions in a third party’s app. For example, when you order a pizza and pay one way, out of multiple available options. Or when you are looking for a loan and your favorite financial app is recommending one of the top FinTech lending operators. The goal of embedded finance solutions is to provide a seamless and practical experience for users and broaden their choices while staying convenient.
Over the years, the FinTech industry has proven itself to be one of the most dynamic sectors of the global economy. Once again, it surprises with a pivot that can change customers’ habits and drive new streams of revenue. It’s called “banking as a service” (BaaS) and it stormtroops through the market. What is it? Can you participate in the trend?
Significantly. Research and development (R&D) drive the economy through innovation. That attracts talents that push new products and services even further, expanding the internal market and creating value for export. Finally, research and development positively affect business across the board – from internal processes, through new hires, ending with a long-term strategy for growth. How do research and development affect productivity and what should you do to make it happen?
FinTech is a very difficult market to be in. New solutions pop up frequently. Competition is fierce, compliance demands strict, and investors expect nothing but spectacular success. How to navigate these waters? We have prepared a brief list of top FinTech influencers and experts. Shapers, thought leaders, and FinTech startup CEOs will help you follow trends and innovate.
You can put a price on successful application, implementation, or even company-wide change. You can’t evaluate stagnation. The digital transformation strategy keeps the company afloat, lets it compete in a demanding market, and gives it a competitive edge. What is digital transformation and how can you run it in your firm?
FinTech has always been founded on the notion that traditional ways of doing business don’t work. There has to be an innovation that drives the sector. There has to be a value proposition that spikes customer’s interest. From now on, the money has to be secure, easy to manage, and available from anywhere and at any time. The FinTech blockchain market makes it possible.
FinTechs going green is a popular subject among investors, startups, software development specialists, and users alike. Sustainable FinTech companies are not a buzzphrase anymore. It’s a strong trend that grows and fuels another revolution in the finance world. A green one; literally and figuratively speaking.
FinTech or financial technology is one of the most vibrant sectors of a modern economy. The number of innovations implemented in the field exceeds the expectations of many analysts and users alike. FinTech is so successful because it combines healthy business interests on the side of applications’ owners and the daily needs of customers. A spectacular proof is the rise of insurance technology but the whole FinTech is full of novelties. Let’s discover them all.
A construction site on an alien planet is like a hive – everyone knows what to do, everyone has a specific role to play. There are risks and unknowns. Erection of a building under these circumstances requires careful planning, selection of materials, coordination, and teamwork. Similar rules apply in software development – engineers, product owners, designers, and quality assurance specialists are focused on their specific tasks. But the most important role is played not by developers; it’s reserved for the client. Here’s how the client’s responsibilities in product development translate into working application.
You surely have points to check before signing a contract with a development company. You want to make sure that the partner you are going to choose, is reliable and software quality is spot-on. This is part two of hour lenghty and very detailed article, so if you have questions to ask a software development company, visit the first material: Questions to ask before hiring software development company.
Software development contracts can be built in multiple ways but one thing that should matter the most is software quality. Meetings and calls before the start of product development will help you make a good decision and choose the right software vendor. What to pay attention to? What to avoid? How to learn more about your partner? We made a list of 20 questions to ask when signing a contract with a software development company.
Consumers of digital services expect quality service, security, and convenience. Machine learning (ML) in finance is the best example of how these needs can be fulfilled. Without compromising business models, and the need to generate revenue. With customer-centricity in mind. The best way to serve people what they need is to know them a little better. How is this goal achieved and what’s the state of machine learning adoption in the industry?
Artificial intelligence (AI) in FinTech is often associated with Big Data and analysis of customers’ behavior. In reality, it can be used in a wider range. Anti-money laundering (AML) AI is used to fight financial crime and secure apps’ reputation. After all, financial technology is all about trust. How is it done and what conclusions can you draw for yourself?
User experience (UX) and user interface (UI) are ruling the world. Even if you don’t pay attention to them, users of your app definitely do. If neglected, this sphere can even break the application, causing major client churn. They will leave. Companies are investing time and money to make sure their product will launch smoothly and keep users engaged. There are, however, popular myths about the design. What are they and what complications do they bring?
Digital disruption invented and implemented by FinTech companies is a double-edged sword. Companies that went after main-street banks and traditional insurance firms, now face another era. They have to innovate to stay alive. How leading insurance companies make use of artificial intelligence (AI) will make or break their businesses. Customers face new risks and want to make sure the InsurTech sector can calm their fears. This is how you can help them.
FinTech apps heavily rely on connecting with customers. They thrive by offering custom services to users bored and tired by classic banking. The more you know about your customers, the more you can give to them. The same works for prices – price optimization through machine learning is the ultimate tool for growing revenues. How is it done and what can you learn from existing examples?
Financial technology, or FinTech for short, is a hit. It’s a global revolution that transformed the lives of many people. It enabled them to hold onto a job, manage their finances, discover better options for their home budgets. The Kalifa FinTech review for 2021 shows how much this business has evolved in the UK – one of the most vibrant markets in the world. We work with the best – two of our clients contributed to the report.
Unless it’s about counting money on our bank account, then for many of us, numbers are hard to remember and boring. We need a context and a good reason to process them. Not to mention making something useful out of it. The same goes for FinTech users. What if you could help them through storytelling?
Wouldn’t it be great if you could just buy whatever you like and pay for it within a deferred payment system? It should be easy, convenient, and cheap. Other people thought exactly the same; that’s why “shop now, pay later” solutions came to be. How does it work, who are the top players and how can you benefit from this trend?
We all know LEGO bricks and pieces; many of us grew up having them and then passing the torch to our kids. With LEGO, we can dream and build anything: a car, a house, a castle, even a space station. From the smallest and most humble design to the most ambitious project—everything can be constructed with the right amount of supplies and patience. It’s possible because these pieces can be used many times over in different combinations. And this is the exact nature of the design system in user experience (UX).
We are very pleased to see women entering the world of IT and conquering it with knowledge, passion, and customer-centricity. Natalia Cholewa, our Lead Product Owner and Head of Engineering, is now an expert for Let’s Solve IT. The initiative helps women enter the industry and overcome challenges during short online consulting sessions.
The COVID-19 epidemic turned the world upside down. Many of us think extensively about safety and security. That’s where financial insurance companies come in. They offer a feeling of having a safe bay in times of uncertainty. Some of them will face challenges because of the uneven funding or promoting already established InsurTechs. Some of them will need to rethink business models. Here’s the list of the most promising InsurTech companies to watch in 2021.
You are in the dark and complicated labyrinth. You can barely see the sun, the path has twists and turns and there’s no exit to be found. Backtracking seems to be the only option now. Retreating and finding a new path seems to be logical, and cost-effective. To save you from the headache, we have prepared this short but detailed FinTech UX and UI guide.
An old classic financial institution with multiple physical branches competes with the agile and low-cost mobile-only bank. Possible hundreds of years of tradition versus a few years or even a few months on the market. And yet, the mobile bank is on the rise, attracting users left and right; like a moth to a flame. They know their issues will be addressed quickly and every operation will take minutes, sometimes even seconds. If so, why many FinTech startups pivot early on and change the product? What common mistakes do they make?
Imagine you could change the world with a single act. A brief moment, a statement that changes the landscape for generations to come. And it’s not an act of desperation but rather convenience. It’s not a political statement but a consumer one. This is how Generation Z takes us to the world of cashless and instant-response society with a simple act of tapping the “Pay now” button. What do these people need and pay for, what are Generation Z’s spending habits?
Can you make money by serving people of humble means? Can you sustain a business addressed to people outside of the global financial system? Limited market opportunities and few coins in the pocket don’t have to be a dead end. As Bill Gates once said: there’s a difference between banks and banking. If you need proof that FinTech companies can provide quality services to customers despite their financial status, look at neobanks in Africa.
Imagine you have a beautiful tree with a potential to bear fruit every season. It doesn’t come for free—you have to tend to it. Water the seedling, shelter from extreme weather conditions, protect from pests. Manage resources, so they can last for months. The same goes for successful project management. Many companies, especially startups, have great ideas and deep domain knowledge but lack project management skills to build products with long-lasting impact. Here’s a shortlist of key success factors and handy solutions provided by companies like ours.
Two reports, two gold mines full of data, insights, and conclusions. The Paypers’ report and the McKinsey’s report offer a thorough analysis of ways people have used their mobile devices in 2020. For complete analytics, we send you over to these sources. For everything else—major changes, global trends, behavioural shifts—we ask you to stay with us. Here are both reports in a nutshell, with key data about preferred online payment methods in eCommerce and our in-house commentary.
The IT world never slows down. Every year brings new trends to focus on or catch up with. The most recent shift in software is testing with the use of AI, which eliminates the human factor from quality assurance. This puts additional pressure on executives and product teams to offer world-class solutions. The same pressure drives software development partners to enhance their ability to deliver. Here’s a list of the latest trends in software testing and best practices to follow.
The year 2021 will be all about personalization, integrations and connections. Customers want to experience, not just use digital products and they want a broader spectrum of services. That’s why FinTech companies are joining forces with firms offering added value. Finally, people expect connection with other people. Companies who will create communities around their products will win people’s minds and wallets. Recently, we wrote about FinTech trends for 2021, now let’s talk about top FinTech companies to watch in 2021.
The year 2020 has brought many breakthroughs. The massive shift towards remote work has proven things can be done, even if people don’t work face-to-face. The prolonged lockdown has probably changed customer spending habits forever and has impacted many industries, not only e-commerce. Meanwhile, the FinTech stage has grown exponentially, bringing comfort and convenience to everyone, even the unbanked. What will the industry look like next year? Here is our list of the most interesting FinTech trends in 2021.
Do you ever feel like your favorite institution or app can do better? Implement responsive UX, improve helpline, simplify onboarding or just include you more in the conversation? Many customers feel that way about digital products. They don’t want to be cogs in the machine, grinding the same load every time they contact the institution or use its services. Customers want to be heard: here’s how to do that in FinTech.
Digital transformation is like taxes or iPhones: present everywhere. Despite many CEOs, CTOs and CIOs being interested, not all of them have a clear picture. In reality, it’s not only about technology. It’s a tool that enables teams to work efficiently, creating even more valuable products. But first – security.
In the app economy, green is the new black. Investors, companies and teams expect apps to perform and deliver sales results overnight – or at least quickly enough to verify assumptions of a minimum viable product (MVP). Especially today, when COVID-19 washes off many companies and the future is uncertain. Sometimes, when the pressure is on, pressing the “off” button might be healthy. Not only under the current market conditions but in software development overall. That button is quality assurance and it can be an anchor for the business, guaranteeing customer loyalty and lower maintenance costs.