Fintech App Ideas for 2021: New age applications for new age customers

Top Fintech App Ideas For 2021

The pandemic has upset every business realm and has opened new avenues of business opportunities. One of the rapidly evolving domains is fintech. Financial service providing companies are revamping their offerings to best suit customers’ needs in times of uncertainty and disruption. We will look at the ten most anticipated and promising fintech app ideas that every fintech company or startup should consider.

As we look ahead on a path to recovery, fintech companies are looking forward to capitalizing on digital transformation.

Fintech Overview

It is evident everywhere that shifting to digital formats to offer financial solutions has become the core focus for many financial players and is a well planned technology investment. From big corporates to fresh new startups, everyone is trying to leverage the disruption of the pandemic.

According to this study, the fintech app market size in 2025 will be $305 billion. In a world that is struggling to find stability, it is among the fastest-growing industries right now.

In another survey, it is revealed that around 64% of millennials and 59% of Gen Xers were using at least one fintech app.

This article will discuss the ideas to build fintech app that is a mixture of old finance concepts and new emerging financial trends. So, this list is relevant for seasoned financial players and new-age entrepreneurs looking to enter the financial market. One aspect is quite clear, the year 2021 is the time for bringing in some innovation to financial offerings.

Let’s begin with our list.

#1 Super Banking App

This will be a revolutionary app that will bring all the different bank accounts under one single app. You can link all your various bank accounts with this super banking app and securely execute all your bank-related transactions. Of course, data privacy and security are the two main areas of concern where you will have to work a lot.

Thanks to artificial intelligence, machine learning, the Internet of Things (IoT), blockchain, and a few more, this type of banking app has already arrived on the horizon.

#2 Point-Of-Sale App

This app category is instrumental in an age where the digital mode of payments is given unprecedented preference over simple cash transactions. A typical brick-and-mortar business should benefit from these apps, offering multiple payment methods (cards, digital wallets, etc.). Since most of the customers today are performing more digital transactions, it is obvious to invest in a point-of-sale app for business owners.

#3 Crypto Trading App

There is no doubt that building a crypto trade app can be game changing fintech trends. This app will target customers looking to foray into the world of the decentralized market by trading in cryptocurrencies. The app can let the customers choose different digital currencies and exchange them against foreign money or even fiat cash. To take this a step further, the customer can also choose to create and promote their private cryptocurrency.

#4 P2P Payment App

The peer-to-peer payment apps have been there for a while and have proved to be a trusted way of doing transactions securely. This application doesn’t depend on any mediator or a third-party website to enable fund transfer. These apps can be built using the latest top-notch technology like biometric authentication, face recognition, NFC, etc. These apps are a lucrative business opportunity owing to their commission-based model.

#5 Lending App

It is yet another financial app based on a P2P business model and is undoubtedly a disruptive idea. It provides the platform for both lenders and debtors to come together for financial transactions. All this can be done without dependency on any third-party financial institution. On the one hand, these allow the debtors to set mortgage rates according to their capacity. Simultaneously, the lenders can regulate their prices against others to give funds at lower rates. By doing so, they attract more prospects and debtors.

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Fintech App Ideas For Startups

#6 RegTech App

The RegTech app allows financial tech companies to cope with domestic and international regulatory requirements. This app’s primary function is to automate organizations’ processes like buyer identification, verification, data compilation, submission analysis, transaction monitoring, and report analytics.

As the regulatory environment becomes stricter for the fintech sector, these apps could play a crucial role in the business’s data security and compliance-related functions.

#7 Insuretech App

Insurance has always been the favorite offering for every banking and financial institution. Insurance has continually evolved in sync with other financial services, and hence with the emergence of fintech, insuretech has also become viable.

The insuretech app can leverage AI, IoT, Blockchain, Open API, and Machine Learning to deliver world-class service to their customers. It can quickly analyze big data of consumer knowledge, market trends, customer behavior, etc., and offer highly specialized and personalized options, risk analysis, and others. This all can be done without the dependency of a third-party insurance coverage agency.

The insurance sector has always been an evergreen vertical. You can never go wrong by developing an insuretech app.

#8 Crowdfunding App

At present, this concept is prevalent in the US and the UK markets. It is somewhat like fundraisers like Kickstarter.

A crowdfunding app can be a profitable fintech app idea for startups and big fintech companies. These apps can create ripples across the startup funding arena by providing alternate or lateral funding options for entrepreneurs. They are creating new avenues to reach out to Venture Capitalists and financial institutions for raising money for their new and upcoming business venture.

#9 Digital Wallet App

Digital wallets or e-wallets are becoming game changing fintech trends.They free the customers from carrying physical wallets and essential items like debit and credit cards all the time. Not only this, but these digital wallets can also help in extra side income through discount coupons and offers. The digital wallet app can be built as a standalone app or built in conjunction with another app. This app’s widespread application makes it one of the most sought-after app development projects in the fintech sector.

#10 Stock Market Trading App

A trading app can be the ultimate way to indulge the market traders by giving them plenty of options to buy and sell.

An ideal trading app should give a complete picture of shares, foreign exchange rates, funds, investments, etc. These apps can extract information and database from multiple reliable sources and help the user make an informed decision.


Having discussed all these app ideas, one must not forget the development cost of building these apps. It depends on the app’s complexity, the tech stack used for creating the app, appstore choice (android, apple, or both), target audience location, etc. You may also like to consider partnering with an experienced fintech development company that knows the fintech ecosystem’s ins and outs.

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Pratik Mistry is a rare mix of technologist and vice president of sales at Radixweb. His passion lies is in helping companies to grow revenues by delivering top notch software development services and build value-based partnerships. When not driving high-impact go to market strategies, Pratik loves to try new cuisines and going to the movies.