Top Fintech Application Ideas in 2021

 The adoption of technology in the BFSI sector has transformed its landscape by 180 degrees. FinTech, or in other words, the amalgamation of finance and technology, has not only added convenience and scalability to the ecosystem but has also made it more quick, secure, and profitable. It has provided a new set of opportunities, catering to the requirements of FinTech startups, and even bringing a prominent effect on their businesses. With all such merits and possibilities, the global FinTech market is poised for growth and is estimated to be worth $309.98 billion by 2022. The advancement in this industry is continuous and swift, and the COVID-19 crisis has further pushed the enhancement.

With a myriad of scope and applications, FinTech has become a hot topic among entrepreneurs, investors, and startup enthusiasts. In this article, we will take a brief look into Fintech app development ideas that can open new doors for success. Let’s stay hooked until the end of this write-up.


Best FinTech App Ideas in 2021

Investment & Trading Apps

Investment & trading app development and launch on a broad scale can make you relish the limelight of the market space. Currently, users are showing immense longing to use platforms that allow them to acquire extensive insights into Forex, funds, stocks, shares, and other available investment options. They are also welcoming apps that let them invest and trade efficiently. Nevertheless, users are more inclined towards applications that collect investment data from various sources and allow them to calculate the asset valuation and make the right investment decisions. 

Also Read: Decentralized Video Streaming App Development Using Blockchain
P2P Payment Apps

In the last few years, there has been a huge influx in P2P (peer-to-peer) money transfer practices. The growth statistics and graph of this market are rising at a remarkable pace, therefore, developing P2P money transfer applications can turn out to be big hits.

While offering users feature-rich facilities between bank holders instantly, such apps are chopping the needs for transaction fees or third-party interventions. You can make the process more seamless, secure, and advanced by integrating features such as voice-enabled transfer, biometric technology, and blockchain implementation. 

All in all, P2P money transfer application development is one of the best finance app ideas that can provide users with commission-free money transfer capabilities. To get detailed insights into BFSI app development using neoteric technologies, consult a finance mobile application development company.

Loan & Credit Apps

Getting your loans approved with just a few simple clicks and steps on your mobile screen is always bliss. The loan & credit finance app idea brings that idea into real life. An application that allows users to get a loan and credit is an incredible startup concept in the BFSI and Fintech market.

It also functions as a medium for P2P lending apps between borrowers and lenders. On this platform, both the parties can cater to each other’s needs without any third-party intervention or authority over the loan. Besides, the credit loan app allows borrowers to set the loan rate limit and can take personal loans, car loans, business loans, home loans, and many others at a low interest rate from reliable lenders.

RegTech Apps

RegTech applications also fall under the category of best mobile app development ideas for FinTech startups. These mobility services assist financial institutions to comply with all the global and local regulations. They enable organizations to automate a major segment of their processes, including transaction reporting and monitoring, customer identity verification, reports compilation and submission, and increasing customer retention rates. 

Digital Wallets

Since digital wallets are offering an escape route to users from carrying physical credit/debit cards or wallets, their market is snowballing steadily. These apps are providing users with the ability to make payments using biometrics or in a few taps while getting lucrative coupons or offers in return. It has been predicted that the digital wallet market will generate revenues worth $7581.91 billion by 2024. 

Blockchain Apps

Blockchain has a significant impact on the BFSI and FinTech industry, and it is considered a million-dollar technology due to the anonymity and security offerings in the transactions. Therefore, embracing blockchain for Fintech startup businesses is one of the most promising finance blockchain mobile app development ideas in 2021.

Moreover, blockchain offers a myriad of benefits to the targeted user base including:

• Acting as a DAO (Decentralized Autonomous Organization), where there are programmatically defined rules for what business activities are allowed or how funds and tokens can be exchanged
• Performing transactions with cryptos
• Transfer independency and no third-party control over transactions
• Safe funds exchange and secure transfer traces

Summing Up

As the Fintech sector is booming at an unprecedented rate, several fintech startup ideas are taking real shapes. For entrepreneurs, fintech app development solutions are turning into a success magnet.

With a wide range of opportunities and benefits, Fintech applications are deepening their roots in the market. Furthermore, they enable organizations to boost trust and offer greater customer satisfaction and care. If you want to leverage the growth vibrations in the BFSI and Fintech industry, connect with our experts for robust finance app development services.

Why Streaming App Security Is Crucial For OTT Service Providers

The progression and improvement in network connectivity and data streaming speed over the past decade have fuelled a surge in demand for high-quality digital media content. Grabbing the opportunities, established and new online streaming services gradually took over traditional TV broadcasting operators’ domination of the entertainment sector by providing increased flexibility in terms of pricing, how viewers can access and watch the content.

However, after the Covid-19 pandemic hit, it significantly affected business operations all across the globe. With at-home orders in effect worldwide, OTT (over-the-top) streaming services catapulted several years ahead in terms of market dominance and adoption. Video and mobile streaming applications witnessed a massive rise in development and digital media giants dipped their toes in the vast ocean of entertainment and online media streaming. In this article, we will discuss why streaming application security is essential for OTT service providers. 

 

Also Read: The Rise Of OTT Streaming Solutions Amid Pandemic



The Importance of Streaming App Security For OTT Solutions

Streaming applications hold valuable information and assets including personal data, payment details, and proprietary technologies that make lucrative targets for cybercriminals. Insufficient and obsolete streaming app security can directly impact the overall revenue generated by OTT service providers. Hackers may bypass the crucial authentication protocols to directly access premium services for free, publish clone apps, or interfere with ad revenue streams that lure away potential online customers. Consequences that are less tangible have the potential to cause even more havoc. Duplicate apps that inculcate malicious codes can viably damage brand reputation to a massive extent. Hijackers can make use of app vulnerabilities to gain access to your internal networks and servers, ultimately spreading throughout organizational systems. Let’s take a look at how you can protect your OTT streaming applications and services.

Content Security Compliance

Content creators and owners issue security mandates or a robust framework that media distributors must follow. This is where DRM or Digital Rights Management technology comes into play. However, as streaming apps security and content piracy continues to plague the industry, these general streaming app security guidelines are bound to tighten. Necessarily, broader application security measures such as environmental checks and code obfuscation are being used to complement DRM attributes. 

How To Safeguard Your OTT Streaming App

The overall security of an OTT streaming app development may be sidelined while you only focus on DRM. However, the development and security team puts more effort into the network and system security. Nevertheless, there is always a way to inculcate app protection without entirely disrupting the application build cycle. 

Also Read: VR in Video Streaming: Live Video Streaming and Broadcast
 

In application shielding, also referred to as app protection, the developer implements layers of security and protection into the app code that makes it resistant to cyber threats or hacking attempts. The approach mitigates security gaps in the streaming app itself, enabling the end-to-end protection of streaming services and content. Exclusive in-app protection technologies truncate threats to streaming app security such as:

• Code tampering
• Reverse engineering
• Side-channel attacks
• Malware injection
• Encryption key extraction
• Data theft

How We Can Help?

At Oodles Technologies, our seasoned team of experts takes a multipronged approach to protect and defend streaming apps from attacks. With state-of-the-art technologies of securing codes for content protection, we truncate any vulnerabilities associated with streaming app security. The defense strategies that we follow include:

• Anti-debugging mechanisms, jailbreaking/ rooting detection, and other protections to prevent dynamic and static analysis
• Robust code obfuscation to put a halt on reverse engineering and secure sensitive information
• Integrity checkers to gauge and detect attempted code manipulation
• RASP or runtime application self-protection, which executes actions related to real-time defense in repose to detected malware and threats
• Keeping encryption keys safe and protected from exfiltration attempts and other side-channel attacks

The holistic streaming services and security that we provide enable OTT streaming to meet all the regulatory requirements set by enterprises and content creators. Our streaming app development solutions give you access to the international markets and high-end digital content that your prospective subscribers demand. If you wish to know more about our OTT streaming and app development services, connect with us.

The Increasing Curve of OTT Streaming Services Amid Covid 19 Pandemic

Industry analysts and media experts may have been declaring the age of OTT media for a while now but it took a pandemic for the era to truly arrive. Given the existing scenario across the globe where minimum cinema halls are into play, video streaming platforms are having their moment in the sun. With millions of viewers cooped up at home or following social distancing guidelines, OTT consumption has skyrocketed through the roof. 

Undoubtedly, the internet revolution has driven the popularity of Over-The-Top Streaming services in recent years. The greater convenience offered by such platforms is worthy of recognition. On-demand media streaming services have made it easier for users to access content from any device- from smart TVs and computers to mobile phones and tablets. Another crucial consideration is has been the low price plans offered by OTT platforms and service providers and in the duration of 2020-2021, we’ve witnessed its adoption like never before.

When contemplating the massive growth of OTT platforms, Netflix is one such classic example. It started in 1997 with a library of approximately 900 rental titles. By 2013, it had started producing original programs and that period marked an enormous growth in user subscriptions. Four years later, the subscriber count of Netflix had surpassed the total number of cable TV subscribers in the US alone, reflecting a humongous trajectory in its growth. 

Offering original programs has furnished considerable opportunities to OTT platforms as it enabled the acquisition of a wider user base. In this article, we will discuss how this technology’s trajectory is going to look in the future era.

Also Read: Role-Based Access Control With Enterprise Video Streaming
Entertainment and Media Landscape During COVID-19 Pandemic

According to recent research reports, the global OTT streaming market is predicted to rise from the current $141.17 billion to $257.37 billion in 2025 at a CAGR of 16%. 

With the global pandemic resulting in work from home routines, the content and media consumption on OTT platforms has spiked with a massive surge of 134%. Naturally, family content and animated videos have also continued to be popular. 

The increasing change in users’ social behavior, which is rapidly shifting from traditional broadcasting solutions to on-demand media subscriptions is fueling the growth of OTT streaming in the forecast period. Various segments of the population have already commenced using video streaming services in place of regular television for entertainment because of the added benefits such as ease of access and all-time availability of on-demand content. Streaming on 4K televisions is one of the hottest trends in the OTT streaming market. Also known as UHD or Ultra-High Definition, 4K resolution is typically 3840x2160 pixels and is the highest level of HD video quality available to television, film, and sports viewers these days. 

Opportunities & Challenges

Despite the colossal leaps made by the giant OTT players, they still face fierce competition in the market space from the local players. Therefore media streaming providers have started heavily investing in creating original content in many languages. 

The overall consumption and the rise in subscribers have also led to a few common challenges for OTT platforms, the bottleneck effect is one of them. Internet limitations have been generating bottleneck effects and bandwidth choke points have made it essential to create better solutions such as dynamic adaptive screening over HTTP or DASH. 

Partnership with telecommunication conglomerates is also entering into the scene of offering subscriptions for on-demand content. It has served as an exciting model to expand the existing customer base. In order to overcome the associated challenges with on-demand media streaming, service providers are now opting for OTT app development services to augment their business processes further.

What Lies Next?

Tech advances such as immersive technology and 5G are all set to reinforce public interest in online video streaming. Other avenues such as online education and eGaming can also furnish lucrative opportunities for OTT services to proliferate their usage across the globe. 

Nevertheless, OTT app development services have reflected impressive growth curves in recent times and the Covid-19 pandemic has only catalyzed its magnification. All digital media streaming trends incessantly point towards a brighter future for the on-demand media streaming industry.

If you are looking to jump on the bandwagon of OTT app development, connect with our experts. We will assist in building your digital presence in the entertainment and media industry while enabling you to garner more viewers with interactive streaming applications.

Tips For a Successful Enterprise VR Training

Employees in an organization often neglect their training schedules since they perceive it as something that is unrelated to their work duties aside from monotonous formalities. In case if it is a common situation in your company, you might consider giving serious thoughts to VR as a palpable option of how to fully engage your workforce in the organization’s training process.

When you evaluate the conceivable results that VR can impart to employee training, it becomes easy to contemplate why so many businesses are eager to adopt it. With VR app development services, you can effortlessly present them with potential case scenarios, unfamiliar technology, and working difficulties before confronting them in reality.

If you are really interested and dedicated to making virtual reality employee training effective, prepare a list primarily focussing on work areas that are hard to master through the traditional training approach. After hand-picking training programs that could benefit from VR, ensure that your business goals are transparent and rock-solid and analyze whether they are related to safety, proficiency, productivity, or revenue. 

In this article, we will share a few tips that will help you gain the optimum outcomes from your virtual reality training programs. 

• Space for Employee’s VR Training

There are two possible circumstances depending on whether you use a wireless standalone HMD (Oculus Go/HTC Vive Focus) or a PC-based system (Oculus Rift/HTC Vive). In the first scenario, employees can stay at their workspace and practice the training sessions by themselves. In the second scenario, you will be required to set up an area dedicated to the training program and schedule someone to host the sessions.

• Setting Up VR Training Schedule

It is not as difficult as it sounds and it need not be very strict. You can run the training program in a ‘bite-sized’ microlearning format and ask colleagues to visit whenever they have some downtime. You can also make use of some dedicated slots and give some break to your subordinates- on a pre-decided condition that they spend a good chunk of their time learning in VR.

• Boost Employee’s Competitive Spirit

As discussed, plan a space where the representatives can keep a close eye on their development by offering their considerations or responses. Furthermore, add an area for remarks and feedback so you can consequently enhance your training. Without a doubt, the immersive gamification techniques can be exceedingly motivational and will always garner positive outcomes. 

Also Read: Role-Based Access Control With Enterprise Video Streaming

• Avert Sensory-Overload During Scenario-based Training

For a majority of your training employees, it may be the first time that they’ll engage with virtual reality at some level. Simulated experiences can often induce sensory overburden and emotional reactions. Therefore, it is best to figure out how to put innovation into use before making a dive. 

• Recognize and Reward The Training Efforts of Your Employees

The key is to keep your employees motivated and hold them in their best spirits without causing them to stress about complex training programs. With VR app development services, they can adapt to new abilities and features as something that is valuable and compensated for in your enterprise. Quizzes and tests will enable you to identify your employees’ skills at the culmination of your training program. 

• Maintain a Positive Learning Culture

If you make well-prepared training a crucial component of your regular business workflows, your workforce will more likely have some inspiration to help one another and share their experiences. The latest immersive and innovative technologies such as VR can only vitalize this culture further.

Once you do it, VR technology will enable your employees to retain more information and deal with real-world challenges. After they complete their training, they’ll take steps ahead in their field with confidence, prepared to exceed expectations at work.

Final Thoughts

Today, many businesses are benefiting from neoteric VR technology. We hope that this brief guide will help you in enhancing your employee training practices. Nevertheless, VR training will relatively enrich and reinvigorate the efficiency, productivity, and performance of each employee. You just need to prepare including guiding your staff to use VR devices effortlessly.

If you want to strengthen your corporate training with virtual reality opportunities, speak to our experts. We will assist in building the most suitable VR application for training implementation purposes.