Fintech, short for financial technology, are the latest innovative solution to banking firms’ bank-end systems. Presently, various industries such as retail banking, investment administration, education, etc., are a part of the top Fintech companies in India.
The best Fintech companies use different software and algorithms to control financial operations. While Fintech is growing in multiple areas, it is still centrally focusing on the banking sector. The lenders under the top Fintech companies in India use the most advanced technologies to improve the outdated loan processes.
Today, the best Fintech companies allow lenders to provide services depending on every borrower’s needs. Let’s look at the essential features of the top Fintech companies in India.
Features of the Top Fintech Companies in India
With the advancement in technology, consumers now have high expectations of Fintech solutions and financial services that they have to pay for. To make sure that your mobile app or website meets those expectations, you need to focus on these X features.
1. Biometric Sign-in
While the online world brings numerous new opportunities for innovation, it also opens doors for crimes. To eliminate the increased security risks, it is important to get a biometric sign-in to create a highly secure payment system.
- Integrating the fingerprint feature is an excellent mode of authentication. Using fingerprints over the traditional use of PINs and passwords provides the highest levels of security.
- Advanced facial recognition systems also provide a secure option for biometric data tracking.
- Biometric security only lets you access the app with the help of a mobile heart rate sensor on your smartwatch.
2. User-first Navigation
The provision of easy navigation is one of the key features of app engagement, and it should be designed accordingly to become user-friendly. It is important to keep in mind that the end goal of navigation, especially in finance-related apps, is to reduce the time the user spends in the app.
In case the user is spending a lot of time on the app, it indicates that they are having a hard time finding their way around. Fintech apps are designed to be used regularly, however, only for a few minutes at a time. Therefore, it is important to eliminate all the unnecessary obstacles that get in the users’ way, I.e., the fewer steps, the better.
3. Data Visualization
Data visualization is a standard feature for all types of Fintech applications. As human beings, we are better at understanding and interpreting information represented in graphic or pictorial form. Therefore, data visualization is a key tool for simplifying complicated financial terms into something more understandable to the user.
4. API Integration
The right integration of APIs and third-party tools can prove to do wonders for user retention by letting you incorporate various features that can lead to a rise in engagement. In so many applications, this integration is crucial for a seamless user experience.
5. Seamless Form Design
When it comes to providing your users with comfort, complicated form design is one of the common mistakes made by Fintech applications. The users are supposed to enter data for sending payments or account registrations. Therefore, it is important to keep these forms as easy and precise as possible.
In today’s time, Fintech has become a key element of the global economy. As a consumer, you sign in to a Fintech app with a clear knowledge of having to spend money. Therefore, it is your right to expect a top-of-the-line experience. Look for all these features before choosing a Fintech company.