Just a decade ago, financial apps were meant to serve only one function - to work. Today, with the development of digital platforms and the opening up of financial institutions to handle transactions via mobile devices, we are experiencing a transformation of the industry. Increasing customer expectations, cyclically changing financial regulations and competitiveness are causing institutions to try to adapt to new realities.
Financial institutions are fighting not only for trust, but also for users' attention. Attention, which in the modern world is like currency, and the lack of it can cause problems. Therefore, the development of mobile banking apps is not based solely on enabling users to make mobile transfers. Expectations are much higher. Today it is crucial to provide an intuitive, instant, personalized and, most importantly, secure app. So I decided to gather 7 trends that are shaping the financial sector and talk about the role of each of them.
Table of Contents:
1. Why now? Pressure to innovate in the financial sector
4. Artificial intelligence and machine learning
8. Data-Driven Personalization
10. What’s next for your finance app?
Why now? Pressure to innovate in the financial sector
Application development in the financial environment has never been one of the easiest things to do, although it is now extremely complex. The FinTech industry now faces something more advanced than just customer requirements. Digital banking, regulations, the need for robust security, the growing number of mobile devices, and advances in artificial intelligence and machine learning are all factors that radically affect every stage of app development. That's why finding the right company responsible for software development is a goal that guides many financial institutions.
How this list was built?
The emerging trends presented in this article are the result of financial industry observation and leaders' adaptation to changes in technology, customer behavior and ever-increasing expectations. Each of the listed trends shows how much influence they have in the application development process. Regardless of the scope of work undertaken, the examples highlighted are intended to help guide strategic decisions and inspire innovative efforts within teams. Who knows, perhaps one of the following market trends will transform your business and take it to an even higher level.
1. The era of microservices
In recent years, the banking industry has worked on monolithic, tightly coupled systems. These systems were mostly built in-house and expanded over time. However, they became increasingly difficult to scale and upgrade with each passing year. Therefore, these types of examples became a motivator for change. The microservices trend, which offers a breakdown of the mobile banking application into independent, modular components that can be operated individually, has gained popularity.
With this change, mobile banking app development is significantly improved. In addition, the banking app development cycle is shortened and agility is improved. For development teams, it is not necessary to interfere with the entire system, but only a slice of it. Microservices often provide financial institutions with improved operational efficiency and better customer service. The decision to move to microservices also affects the competitiveness of existing banking systems.
2. Artificial intelligence and machine learning
With the passage of time, artificial intelligence and machine learning are no longer perceived as futuristic concepts reserved exclusively for innovative companies. Today, they increasingly form the basis of dedicated financial services applications. These innovative solutions can detect fraud occurring, automate investments and dynamically assess creditworthiness.
AI and ML support algorithms that analyze financial transactions in real time. This directly impacts user service and engagement based on lifestyle and financial habits. Savings suggestions, predictive spending, and warnings of suspicious activity are features that not only enhance convenience, but also foster trust and brand loyalty.
However, companies considering having a finance app should expect it to be a technological and strategic challenge. The entire app development process requires thought. From data acquisition, to model training, to compliance with financial laws and regulations. Well-implemented AI doesn't just support the application's operation - it actively improves it. It's a shift from reactive service to intelligent anticipation of customer needs that is already redefining expectations of financial services.
3. Digital wallet
If you read the publications on our blog regularly, you probably know that the topic of digital wallets is particularly close to our hearts. It's a functionality that can be used in both foodservice and e-commerce solutions. Rapid technological changes have meant that mobile payments are increasingly displacing cash transactions. Having a digital wallet combines user convenience along with data security. Instant payments, loyalty card management, multi-currency support or integration with services like BNPL are just some of the advantages that come together under this concept.
From a financial app development perspective, e-wallets require the right approach. First and foremost, a finance app with digital payment functionality requires integration with existing banking systems, compliance with various payment standards, and protection of sensitive user data. A good quality digital wallet should realize all the financial needs of the app user without hindrance.
Implementing this technology is not just a response to market needs - it is a way to increase user engagement, loyalty and participation in the growing mobile payment segment. A digital wallet is not an add-on - it is also the heart of a modern banking app.
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4. Data security
Whether we're talking about a mobile banking application or any other type of financial app, security should always be the top priority. Users entrust these platforms with sensitive data, transaction history, and often significant sums of money. That’s why any vulnerability in the system can result not only in financial losses but also in a serious breach of trust. Today’s digital banking solutions are built around regular security audits to protect sensitive user data. Owners of financial apps must ensure regulatory compliance to make their digital products trustworthy and secure for users.
Security in financial applications no longer ends with encryption - it’s a comprehensive system based on multi-factor authentication, biometrics, and real-time threat monitoring.
Growing regulatory demands and increasingly sophisticated attacks mean that financial app development teams must implement robust security measures right from the design stage. Every feature, from account management to payments and financial data analysis must be built with maximum protection in mind. At a time when users of banking apps are becoming more discerning about who they trust with their information, trust becomes currency, and security the most valuable product.
5. Frictionless UX
In a world of instant payments, mobile-first habits and digital convenience, users expect mobile banking apps to work flawlessly from the very first tap. Whether it's signing in, checking a bank account balance, transferring money, or tracking personal finance goals – every action should feel fast, intuitive, and effortless. If it doesn’t, you risk losing their attention. And in online banking, attention lost often means a user lost.
During the mobile banking app development process, UX designers and developers must think beyond visuals. Frictionless UX is about removing every unnecessary step – simplifying onboarding, enabling fast account recovery, offering smart suggestions, and tailoring interactions to mobile devices. The goal is to engage users without overwhelming them. Security should still be strong, of course – but quietly running in the background, not interfering with the flow.
The apps that truly stand out today are those that deliver a seamless, frustration-free experience. No matter how advanced a feature may be, if it’s clunky or confusing to use, it won’t stick. In modern financial services, UX isn’t a nice-to-have. It’s a competitive edge – and often, the very thing that keeps users coming back.
6. Data-Driven Personalization
Personalization in payment apps has evolved far beyond simply greeting users by name. Today’s users of such an app expect a tailored approach - one that understands their challenges and supports them every step of the way. This level of customization wouldn’t be possible without smart data analysis and thoughtful use of user feedback.
Throughout the app development process, product teams increasingly turn to behavioral data and machine learning models to gain insights into how people manage their money. This opens the door to features like real-time budgeting tools, dynamic notifications, and automated goal-setting - all personalized and relevant to the user’s financial situation.
For companies in financial services, personalization is not just a value-add. It’s a core strategy for improving customer engagement and long-term loyalty. When users feel that an app truly “gets” them - that it speaks their language, anticipates their needs, and actually helps with everyday financial decisions - they’re far more likely to stick around. And in finance, loyalty is everything.
7. API-First Architecture
Modern app development in finance is no longer about building everything from scratch. Instead, it’s about creating flexible, scalable ecosystems that connect effortlessly with other services. That’s where the API-first approach comes in. It's a design philosophy that treats APIs not as a secondary output, but as a central building block of the application.
In today’s banking industry, users expect their apps to sync with budgeting tools, payment gateways, digital wallets, and even investment platforms. This level of integration is only possible with a strong API layer. For developers, an API-first architecture means faster prototyping, easier third-party collaboration, and the ability to launch features across multiple platforms simultaneously.
It also opens the door to Open Banking, where customers can grant trusted apps access to their bank account data securely and with full control. For financial institutions, it’s an opportunity to innovate faster and stay relevant in a rapidly evolving ecosystem. For users, it means smarter, more connected, and more powerful financial experiences.
In short, APIs are no longer just a technical concern. They’re a product strategy. And in the race to build the next generation of financial apps, those who embrace this approach will be the ones setting the pace.
What’s next for your finance app?
Each of these trends paints a picture of where the financial app development world is heading - and what users will soon come to expect by default. Whether you’re already building a mobile banking app, planning a digital wallet, or upgrading your existing product for better performance and security, now is the moment to act.
The financial sector moves fast. Regulations change, technologies evolve, and user expectations grow with every new feature they see somewhere else. Staying ahead isn’t just about watching trends - it’s about turning them into strategic action.
If you’re looking for a partner who understands the unique challenges of mobile banking app development, knows how to engage users with great UX, and builds solutions that scale with your ambition - let’s talk. We’ve helped teams in fintech, foodtech, and beyond turn ideas into real, high-performing digital products.
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