Tips for building high-quality and accessible financial services apps
By Joel Newman &
Ashraf Hassan, Strategic Partnerships, Finance, Google Play
February 20, 2017
of people around the globe have limited or no access
to basic financial services to enable them to manage
their day-to-day finances. Mobile technology can
help bridge this gap by connecting historically
underserved consumers with high-quality tools to
help them improve their financial health.
Often faced with an uncertain regulatory environment
and/or a highly fragmented financial marketplace,
many developers struggle with building great app
experiences while also navigating this complex
financial space. That's why we recently worked with
the authority on consumer financial health, to
create the FinTech App Development Compass, a
six-step guide for building high quality mobile apps
to make financial services more accessible on Google
Below, we're sharing six tips to consider when
building a financial services app. For more, read
App Development Compass.
Tip 1: Know Your User
Understand who your consumer is and what difference
your product can make in their day-to-day life. What
are their financial needs? How can your product
improve their financial health? How does your
product fit within the context of their financial
Tip 2: Focus on Access
Responsibly expand access to your product. Consider
how your product can fit seamlessly into your users'
routines. Consider your users' circumstances,
including that English may not be their first
language and that they may be using older devices
with limited data plans.
Tip 3: Establish and Maintain Trust
Trust is at a premium in the financial space. Make
sure you are developing mutually beneficial
financial solutions that deliver clear and
consistent value. Similarly, make sure you are using
the latest security tools available from the Android
platform to secure your users' data.
Tip 4: Test and Iterate
releasing any product to the public, make sure it has
been thoroughly tested. From a financial perspective, be
sure to measure the actual impact of your product on
users over time. From a technological perspective, be
sure to leverage Google Play alpha and beta channels for
distributing apps before their public release.
Tip 5: Drive Positive User
Drive positive consumer behavior through smart design and
communication. Leverage the Android platform tools like Material
Design and notifications to steer users toward positive action
or take financial action at appropriate times.
Tip 6: Recognize the Value of Mutual Success
Remember that the best business models are win-win: If your
users' financial health improves, your company profits. Consider
embedding financial impact and technological tracking
capabilities within your platform from the beginning.
For additional information, refer to the CFSI
and get the
to stay up-to-date with more features and best practices that
will help you grow a successful business on Google Play.