Best Technology Stacks and Mobile Banking Trends in 2020

A worthwhile mobile application for banking needs the right technology for successful operations and its commitment to the functional requirements. Once you select the perfect framework, you will have an opportunity to cut on costs and save your precious time on the application development.  

There exist quite a few technologies that have all the chances to become just the right fit for your future Fintech app and fulfill the given criteria. 

Native Development 

Depending on the device and the system where the application will be operating, there are a variety of technologies used. iOS-based Fintech apps can be developed using the below technology stacks:

Objective-C. Developers have an opportunity to employ object-oriented capacities that are suitable for creating robust applications. The stack is actively used in the Apple system for developing applications.

Swift. Developers have access to a number of libraries and codes that are not tending to cause mistakes in the future app. Thus, they can improve application performance and add advanced attributes that can be well maintained in the future.

Apple XCode. When using this stack, developers get the right environment for building applications that are full-featured and include debugging components and support the user interface.

iOS SDK. This kit for the software buildout is known to be a so-called bridge connecting the mobile app and the platform where it runs.

When we talk about Android-based applications, they call for different technologies when it comes to creating Fintech apps:

Java. An efficient programming language provides a vast number of great tools and gives the opportunity to create Fintech applications with exceptional security. 

Kotlin. The stack offers solutions that are facilitated and able to resolve any deficiencies and get rid of any drawbacks in Java-based applications. 

Android Studio and Developer Tools. Offering a flexible solution for building and deploying applications using on-device instruments and a number of other perks, this stack helps to create qualitative Fintech applications.

Android SDK. Same as with the iOS one, this kit is kind of a link between the platforms where the app usually operates and the application itself.

Cross-Platform Development

The approach fits for developing apps on various platforms and gives an opportunity to implement a singular codebase.

React Native. Based on Javascript, this framework, being open-source, is commonly employed for creating native applications for different platforms.

C#. It is a modern, simple, and object-oriented language. Taking from the language code, developers can utilize device-specific features and APIs. 

Hybrid Development 

This type implies a blend of two different approaches: web and native. The core here, which is later on inserted in the app, is written using web technologies. 

When building a hybrid app, developers utilize the below frameworks:

HTML5. Developers employ the language to come up with web applications for front-end adaptation.

Ionic. It is employed to create native-based software, utilizing HTML language and creating required UI functionalities.

PhoneGap. The technology is commonly implemented when creating hybrid applications which provide their customers with budget-friendly solutions.

Apart from the above-mentioned frameworks, there is a number of other technologies that are widely used among developers:

Node.JS. This front-end deployed technology is great at building network applications and provides a vast number of various libraries for an outstanding framework. 

Swift. Being open-source, the technology asks for minimum coding thus is known for easy maintenance and much more versatile programming in general. 

C++. It is a supple tool that is utilized to develop multi-platform applications and is known as a base for many languages for programming.

PHP. The framework helps to design dynamic applications and provides all the required tools for integrating databases.

Appcelerator. Used for Android, Windows, and iOS operating systems, this platform is often utilized to build native applications.

In order to come up with a functional and qualitative Fintech application, companies can now utilize a vast number of existing renowned technologies with their outstanding tools and extensive features. 

Fintech App Development Trends

When mobile-oriented technologies have entered the market, the possibilities have gone far beyond people’s imagination. Having become game-changers in the business world, apps for mobile banking have turned into a strong revenue source for many companies. With constantly evolving trends, everyone is betting for more expansion and more sophisticated perks. As everyone goes above and beyond, aiming to reap all the benefits, there is a constant need for timely upgrade and improvement when it comes to modern mobile banking apps

So what are the main trends in mobile banking and how they will shape the industry in the near future? 

Voice Payment as a New Norm 

With security concerns in mind, many Fintech institutions have enabled voice payments. They provide customers with more secure means to access bank accounts as the system is undergoing a two-way authentication before completing a transaction. 

Advanced Fraud Detection 

The number of fraudulent cases keeps growing, forcing financial institutions to improve the level of protection towards all the resources and particularly customers’ personal data as their top priority. Hence, banks are now adopting all the required procedures to assess possible risks related to big data in order to decrease and eliminate the impact of fraud and the possibility of data loss.

Boosted-Up Customer Experience

Smart bots keep leading customer support by offering highly personalized services and predicting customer behavior in order to help them with settling payments, saving up funds, and resolving issues. The bots are operated with the help of machine learning that makes it possible to meet user expectations in the most efficient way.

Cardless Transactions 

The trend is said to become a game-changer in the industry of modern banking. There are already a number of providers that offer customers cardless transactions with the help of services like Paypal for payment exchanges. 

Debt Payoffs Solutions

Paydown apps are said to provide customers with an ability to sustain payoffs of their debts, offering them relevant solutions to be on track with their financial situation and pay off all their debts on time.


We have already said it and we will do it again: Mobile Banking is leading the Fintech industry, giving people an opportunity to manage their finances in a much more efficient and convenient way. Therefore, banking institutions need to adjust, know the trends, and implement relevant technology stacks to satisfy the growing customer demands

Thanks to the fast-developing AI and machine learning along with other technological perks, developers now have all the opportunities to create mind-blowing mobile banking applications, considering customer current trends, and ensuring the ultimate security for the very best experience.