How long does it take to build a banking app?

Appsby Mashum Mollah12 June 2021

banking app

To better understand how long it will take you to build a full-fledged application, the following factors should be taken into account.

 Application difficulty level

It makes sense that the smaller and simpler the application, the less time you will need to create it. Thus, when it comes to the timing of the development of the application, first you need to decide on the scale of the upcoming work. The size of any application depends on the number of features, so you need to define the functional part at the first stage of development. Take, for example, the Yo app we talked about earlier. This application is objectively small with only a few integrated functions, the main of which is the exchange of the word “Yo” with friends. The creator of the application wrote it in one day. In turn, the development of more complex applications with huge functionality can take much longer.

banking app

Resources and skills available

Everything is as it is written. You will need to do the math and make sure you have enough resources to build the application you are thinking of. Are you a developer who needs outside help to add a few extra features? Or are you a business owner who has only an idea, which means you need to create an application from scratch? These situations are completely different:

  • they require different resources;
  • therefore, the time frame for developing an application will also be different.

Let’s say you have a small company or startup but don’t have your own development team. It is quite natural that you delegate the task of creating an application to a competent IT company. Thus, you must have enough money to cover all expenses. Of course, working with outsourcing companies is cheaper, but it takes more time. The situation is quite different if you run a huge enterprise that can hire more specialists for one project and, therefore, fit the application development process into a shorter time frame. As you can see, it all depends on the situation.

Both information technology (IT) and the financial sector are moving forward. IT helps the financial sector to develop and improve through the introduction of modern and progressive software.

In this article, we will look at the main trends in the “collaboration” of information technology and finance, and pay special attention to the development of mobile and web applications.

Banking and financial services is a huge and complex branch of business, handling vast amounts of money and data, requiring high levels of security, and serving a variety of types of clients, from students to global corporations.

How do financial enterprises manage all these tasks and operations and what is the role of IT services in this area? What are the trends in this area?

Mobile banking is helping to reach the millennial audience. The new generation is becoming increasingly important in the global economy, both as workers and as consumers. They are changing the world in many ways beyond the control of past generations.

Digital and mobile services in various fields are already an integral part of their lives.

Almost everyone today has a smartphone, almost everyone uses mobile banking services, so the mobile banking app developer is currently in high demand.

No doubt this will be an approximate number, but still. Developing simple applications with a small number of core functions usually takes 2 to 3 months, while developing large applications with advanced functionality can take more than half a year.

But there is something to always remember! Time saves time. As strange as it may sound, it is true. The less time you save in the planning and research phase of the application, the less time you will need to develop.

Last but not least, if you have a great idea for an application, it’s time to take action. Yojji is ready to bring any of your ideas to life! Our team consists of creative UI / UX designers, talented front-end and back-end developers who already have vast experience in modern technologies, but do not stop learning new ones. We work together to create quality apps in no time.

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Mashum Mollah

Mashum Mollah is an entrepreneur, founder and CEO at Viacon, a digital marketing agency that drive visibility, engagement, and proven results. He blogs at thedailynotes.com/.

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