Online Finance Service Application

We live in an age where the global economy is better than ever. Yet, some people are still struggling to survive and facing continuous financial hardship. It can be nearly impossible for them to break free of their financial chains and get access to quality services, including banking, financial, educational and others.


We can try to help solve the financial woes of today with the help of a modern online finance service application that can be installed on the simplest smartphone and be free or partially free to use. In this article, we will talk about how to create a finance service application. We will also analyze successful examples of financial applications, and talk a bit about the main problems and challenges that developers will be forced to solve when developing a fintech product.



Types of Financial Applications

To get started, let's see what types of financial applications are on the market today.


  • Applications for the personal and family budget. These apps are planners, trackers, and analysts in one box. The basic functionality of these solutions makes it possible to record your expenses, create expense categories, add information about income received, analyze statistics for a month or other period, and also share the application and data between several family members.
  • Online banking application. These applications are usually created by banks to give users the ability to manage their banking operations simply, track the receipt of transfers, convert funds from one currency to another, and sometimes even make purchases directly from the application.
  • Financial assistance apps. These are financial consultant applications. They are based on advanced algorithms. They are able to develop personalized recommendations on how to reduce a particular line of expenses, notify the user if he has spent more than a limited amount, and give financial advice based on data for a certain period.
  • Secured loan online application. Such applications make it possible to get a loan directly to your bank card from the application. They are also based on AI, which evaluates the solvency of the user and the riskiness of the loan, and also develops personalized credit strategies.
  • Financial reporting applications. This subset of financial apps has similar functionality with applications for monitoring personal and family finances, since they both have built-in reporting functions.
  • Financial applications for transferring funds and paying for purchases. The most obvious example is PayPal. This service allows users to make money transfers around the world and is also successfully used in business.



5 of the Most Popular Financial Software Applications

Here are five examples of financial application software. 


CoinKeeper is an application for those who like to plan or are responsible for the finances of the whole family. Here you can set a budget for the month or make it joint. A beautiful interface with coins allows you to easily and quickly add transactions, and on the main page, you can immediately see your current financial condition. This is a cloud-based budgeting and forecasting software. As usual, there is the possibility of cloud synchronization.


A separate plus is the setting of limits for funds for certain categories of expenses. In other words, this is a personal finance application that will notify you of an imminent cost overrun.

Money Lover

Recorded expenses and income are synchronized in the application on all devices. For each category of expenses, you can look at the schedule and evaluate whether you spent too much, for example, on coffee this month. The service will monitor and remind you that you must repay debt. Reports are displayed in a pie chart or in columns, your choice.


This free application for smartphone owners has already been downloaded by more than five million people, and its rating is basically at 5 stars. The main advantage of AndroMoney is its simplicity and almost intuitive operation. The application works without failures and has all the necessary functions.

Money Manager

This personal finance application was developed by Realbyte and focuses on user-specific cost control in conjunction with transaction reports. Synchronization is possible only through the cloud, so this is a cloud-based budgeting software. You can also save data in table format and transfer it to a memory card.


This is a multifunctional application for personal finance and an accountant that displays expenses in the form of reports and visual charts. The program takes up a couple of tens of megabytes of memory, so it installs quickly and offers the choice of the preferred currency at the time of the first launch.



Challenges You May Face

Development and Promotion

A large number of downloads speaks to the quality and convenience of a program, which in turn creates a promotional advantage. An ideal program is not created at one time – it is improved version by version. In addition, development requires money. The wider the audience of the product, the more the free version earns from advertising and the more people download paid content. Accordingly, developers get more opportunities for product development.


Of course, when it comes to financial services, security is a priority. Most users are used to using online services and applications for entertainment, so the task of the developer, both at the creation stage and at the marketing stage, is to develop a really safe system for transferring funds and storing data, and also to convince users of this. Today, only blockchain makes it possible to come close to solving this problem. It applies perfectly to p2p lending apps and services.


The design of the application should ensure users do not have doubts about the reliability of the application. The relationship between design and reliability might sound questionable, but it definitely does exist. Its roots are in the field of marketing psychology. For example, if we look at the blue and white logo design of PayPal, these colors subconsciously affect our impression, causing a feeling of confidence, reliability, and security.


We at Archer Software hope our article was helpful and brought some clarity to your vision of developing a mobile financial application. We invite you to share your vision with us right now, and together we will be able to create a truly promising solution for the benefit of users and your business as well!