// Mobile apps
How to Develop Banking Blockchain App?
// Mobile apps
A bank may not have an office, but it must have an online banking service that can be accessed using a mobile app. At the same time, such a service should be not only convenient and understandable, but also as secure as possible, as well as comply with the standards for protecting the privacy of its users. At the moment, blockchain technologies cope with the tasks of security and data protection best of all. Therefore, in this article, we will show you how to develop a blockchain-based banking application.
This stage is very important, as it allows you to understand what kind of banking application you want to develop and what you need to do this. In particular, you have to decide on a niche, target audience, main functions, as well as exactly how you plan to use the blockchain.
Here is a list of areas where blockchain is most often used in banking:
Here's what specialists your tech partner should have:
Next, together with the developer company, you need to make a draft and/or prototype of your banking application, where you will see the order of user actions, the main design elements and service functions. You do not need to work hard on the look of the interface in the draft. It is enough to get an idea of the user's path to make it as short as possible.
Once you've optimized the user's path and understood what design elements you need to implement, you can start building the wireframe for your application. This is a schematic representation of the design of an application, consisting of blocks and lines that symbolize design elements and the user's path from screen to screen. They help better understand how everything will work, whether the user will be able to carry out what he needs, and how simple and convenient it is.
If you are satisfied with everything and no holes and complications were found, the wireframe can be turned into a highly detailed prototype that gives a more accurate idea of how the application will look after completion of your blockchain-based banking application.
A layout is, in fact, the finished design of the application interface (what the user will see). It should fit your niche, have a nice look, and fulfill the assigned tasks. All three of these things are required and equally important, so put your best effort into polishing them, remembering that 21% of millennials will uninstall an app right away if they don't like the design.
Here is a short list of what you should consider when creating your layout:
These are the most commonly used blockchain networks in the banking sector:
When choosing a technology stack to develop a blockchain banking application, you should focus on five main areas: back-end, front-end, blockchain, and cross-platform. In addition, you should also not forget about the things related to the reliability and security of the software.
This is what is most often used in such projects:
Here is the estimated cost of developing a blockchain banking application:
After the completion of development and comprehensive testing, you need to put the application in the AppStore, Google Play Market and Microsoft Store marketplaces. These sites have strict reliability and security requirements, so make sure your service is working as expected and free of vulnerabilities for hackers and Ddos attacks, as well as several anti-phishing tools.
Launching the application is just the beginning. After it, you should continue to collect feedback from users and your support service in order to remove all problematic points based on this data and add the functions that your target audience needs. In addition, if you are betting on users of Apple devices, then you also need to submit an application to the Apple editorial office so that they conduct an expert analysis and give their recommendations.
All banking applications must comply with the laws and regulations of the country(s) in which they operate. Typically, these laws include requirements for the safety and privacy of users, as well as the fight against money laundering, corruption and the financing of terrorism.
Here are the most famous rules for financial security:
#1. Concept development
#2. Choosing a blockchain developer
#3. Development of drafts and prototypes of the service
#4. Development of a graphic layout of the application
#5. Decide on the functions of your application
#6. Choosing the best blockchain platform
#7. Choosing the right technology stack
#8. Application development cost
#9. Deploying your service
#10. Feedback and development
#11. Legal points