Why Flutter Is Ideal for Banking Applications?

Are you looking for a banking mobile app development? If yes, then you may be wondering how to go about it. However, there are three major options: native and hybrid app development or cross-platform framework. Each framework has its benefits and drawbacks. When discussing the faster time to market, there is nothing better option than hybrid apps. Hence, from lower costs to faster time–market to scalability and maintenance, selecting the hybrid app is the best option, and you need to kickstart the product.

What are the benefits of a hybrid framework?

The hybrid framework gives several advantages, and let’s see a few of them below:

1. Faster time to market

With a hybrid development, you can launch the mobile application in the week besides the month or year. It is because the same codebase is used for the various platforms with minor tweaks, raising the pace of development.

2. Lower the costs

Few resources are required to create and maintain apps by reusing existing coding. Hence, on average, it saves up to 40% of the development cost.

3. Scalable and agile

As the technology progresses, hybrid apps deliver increased agility to navigate an ever-changing market. It will make it easy to apply the changes or engage the features by ensuring an app is always up-to-date.

4. Ease of maintenance

Additionally, the development costs are slowing down when we use hybrid apps as the technology reduces maintenance costs. You do not need to keep the two distinct development teams for iOS and Android apps.

However, there are numerous benefits to developing the hybrid app, but it is also essential to consider the potential risks. The major disadvantage of hybrid app development is that it is limited to only third-party applications. However, it seems t be challenging when you wish to implement with another service provider that does not have the Flutter SDK. The other downside of hybrid app development is having limited access to the Flutter app development tools. Hence, making an app development interaction with media, memory, etc., is very complicated.

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What is Flutter?

Since mobile technology took off worldwide, staying up with ever-changing user needs and device features has been great. But the companies in the banking and fintech industries will make a great balance between speed and accuracy. Hence, it is vital to find a perfect mobile app development framework that helps to make smooth and powerful user experiences.

A Flutter Google’s software development kit for creating iOS and Android apps is one of the most well-known options for developing fintech apps.

Flutter is now powering the world’s most innovative digital financial solutions, from funding sources to foreign exchanges. Some of the famous banking and fintech apps created with Flutter include:

BBVA wallet: Secure digital wallet t store debit or credit cards and make the payment.

WorldRemit: Mobile app grants users to send money across the globe simply.

N26 MoneyBeam: The instant money transfer service for easy exchange of funds between N26 users.

Stripe Terminal: A solution for online payment processing and point-of-sale transactions.

These are just a few examples of banking apps built with Flutter, but they will show that it is growing in popularity with Flutter developers. A framework makes it easy t build feature-rich mobile applications that are reliable, secure, and much enough to handle the demand of banking and fintech services. With Flutter, the mobile app stands out while delivering a better UI/UX design with the latest trends and practices.

Using the Dart programming language and some components and libraries, Flutter allows you to make unique interface designs and custom animations easily. Hence, it will build unique and engaging fintech apps which give users an intuitive and enjoyable experience.

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Why select Flutter for the Fintech App Development?

One of the primary benefits of Flutter app development is its speed. However, when you are required to create a banking or fintech app rapidly, the framework which strikes your mind is Flutter. It will create an application in a few months compared to the other frameworks.

Flutter also delivers time-saving features. You can create changes and view them immediately, and it’s because of Hot Reload in Flutter. It lets you immediately update coding without restarting an application each time. Since Flutter utilizes a similar coding language across iOS and Android platforms, experts do not have to learn the two separate languages. It will create app development even faster.

The other benefit of using Flutter for fintech apps is high performance and scalability. With Flutter, programmers can construct apps that run at 60 frames per second, giving consumers seamless usability, even on devices with slower CPUs or limited memory. Additionally, it handles large-scale applications used by millions of users worldwide.

Therefore, Flutter allows the developers to maintain an app’s UI and business logic codebase in a single place just by simplifying updates and maintenance of the product or service.

Flutter Security

Security is one of the most important concerns for the banking software platform. It would help if you opted for a solution that gives top-notch security features to your app. Flutter is built from the ground up with security in mind and gives several features that will make it one of the most secure platforms for developing banking or fintech apps.

1. Authentication

Flutter supports an industry standard of authentication protocols like OAuth 2.0 that helps to protect the user data in your app development.

2. Network Security

Flutter provides TLS to encrypt all communication between the app and its backend services, ensuring that a user’s data will remain secure and private.

3. Advanced Encryption Standard (AES)

Flutter uses AES encryption to save user data within the app. AES is the cryptographic algorithm governments, and large organizations use to secure clients’ sensitive data.

4. Secure Coding Practices

Flutter encourages using secure coding practices like input validation and sanitization, session handling, and compliance with standards like OWASP (Open Web Application Security Project). It ensures that an app is resilient against standard security vulnerabilities.

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Conclusion

Flutter is the best choice for creating fintech apps as it has many features and tools to make products efficiently and rapidly. It creates an app with robust architecture, powerful UI, high performance, ease of development, and reliability. It will simply handle the complicated UI features and does not need a different language for front-end and back-end tasks. Hence, Flutter is the perfect choice for organizations that can take benefit of the new and innovative technologies, and it will revolutionize how consumers interact with their banking apps. However, Flutter is a great choice for banking apps as it supports iOS and Android platforms. Thus, Flutter is the perfect choice for custom mobile application development for banking apps. 

If you want to develop a mobile banking app with Flutter, consult the best Flutter app development company with expertise in app development services to make engaging and scalable apps that fulfill your banking app purpose. Hence, it brings an app with unique and intuitive features. Don’t hesitate to and feel free to contact us!

Frequently Asked Questions (FAQs)

1. What makes Flutter unique?

Flutter differs from the others as it does not rely on web browser technology or set Flutter widgets with each device. Rather than that, Flutter uses its high-performance rendering engine to draw widgets.

2. Why is Flutter the best choice for cross-platform app development?

Flutter images the less code development. It is a simple and convenient platform with amazing widgets that give the same level of performance in the minimal code that native apps do. Code reusability is another prominent feature of Flutter.

3. Which database does bank of America utilize?

It uses a Teradata RDBMS to analyze the trends in its relationships with consumers to identify who will likely buy the specific bank product or service.

Written by Dhara Acharya

Dhara Acharya, with over 5 years of experience, has established herself as a proficient SEO Specialist. Her expertise in enhancing online visibility and driving organic traffic has significantly benefited numerous projects. Dhara's strategic approach and keen insight into search algorithms make her a valuable asset in the digital marketing realm.