React Native - the best choice for Fintech apps

Smartphones aim to make lives easy. Major industries flocked to develop mobile applications to reach their customers quicker. One of them is the Finance Industry.

Finance meets technology, which is the base of Fintech apps. These exist to make financial tasks like online transactions and investments faster, more user-friendly and secure.

Making a mobile application was a time-consuming and costly affair because each application needed to have at least two versions for Android OS and iOS. Therefore, the rise of React Native was a dream come true for mobile app developers.

What is React Native?

Launched in 2015, React Native is a JavaScript-based mobile application framework based on its predecessor, React. Leading companies like Instagram, Skype and Facebook use it for their applications across platforms.

It makes cross-platform development faster by using a combination of JavaScript and JSX (JavaScript XML).

Why is it the best choice for Fintech apps?

High-Speed Development

The gradual introduction of services like net banking and electronic trading over the years points to this shift that was always coming. The current rapid rise for Fintech apps demanded a system that delivers fast.

React Native answered this using a set of code that can run on Android and iOS. This enabled simultaneous high-speed development of applications for two major operating systems in smartphones. A good React Native app development company can get you fast yet secure apps.

One Code, Many Uses

Its cross-platform functionality is a boon to developers. Gone are the days when they had to go back to the drawing board and cultivate a fresh app. One developed codebase can work on both the major mobile operating systems.

This shared code handles all the differences of UI and navigation between the two, offering a consistent app. Finance applications collect and use users’ data to learn and become the best version of themselves. The ease of updating these applications ensures you are always ready for the changing future.

Savings on Development

Every decent React Native app development company aims to deliver the best results while being easy on the pocket. With the help of this framework, they don’t have to develop the application again, slashing the cost by almost 40%. Less working hours on a project leads to lower costs that can be paramount to getting new clients.

The savings don’t end there. Allocating fewer people to work on a particular project brings down its cost and frees others to work elsewhere.

Plugin Incorporation

Fintech apps use features like GPS and Bluetooth to enhance the safety of transactions. React Native lets you smoothly integrate these features with the applications.

It also comes with browser extensions and good designing & debugging tools.

Trustworthy

Mobile applications in this industry are a long-term investment. Trust was always the cardinal issue.

Facebook, one of the internet heavyweights, released React Native after their gamble on HTML5 ended poorly. Other established companies like Uber rested their faith in this new system. Moreover, it is powered by React/React JS, which had already established itself as a reliable JavaScript library. All these increased the credibility of React Native.

Conclusion

Besides these benefits, React Native is comparatively easier to learn than others like C++ or Ruby. This is not the perfect solution, but the advantages outweigh the downsides.

Connect with a React Native app development company like Tech9logy Creators to turn your idea of a Fintech app into reality.