16 February 2023

How to Accelerate New Fintech Products with Modular Front End Technology

Written By Velmie

How to Accelerate New Fintech Products with Modular Front End Technology

Building a front end and user experience is always challenging. In the Fintech space, it plays an even greater role considering high customer acquisition costs and low lifetime values. Therefore, companies must invest over 60% of their engineering budgets to build apps and experiences in order to pursue their target acquisition and retention goals.

The importance of front end & UX

The front end of any Fintech product is essential. It is the face of your product and what customers see and interact with. Good front end design can help attract new customers, keep existing ones, and give your company a competitive advantage over legacy institutions.

Fintech companies in the US and Europe have found that providing customers with an exceptional experience is key to success. This has always been a differentiator between legacy institutions and modern fintechs but its importance has often been underestimated. Front end experiences remain the biggest success factor for many fintechs and are a blocker for others who have not managed to get it right.

A good front end solution must not only look nice but also deliver your brand message and interact with clients. It should be clear, intuitive, and responsive; furthermore, UX is directly connected to other pieces of the product such as back end APIs, business and compliance processes, marketing tactics, etc.

At Velmie, we understand the importance of front end design and that’s why built modular front-end technology that makes it easy to create custom experiences for your product. Our white-label banking apps for iOS and Android are fully customizable, and the back office solution comes with extensive tools to manage engagement and conversations with your customers.

Costs of building Fintech apps

Building a great front end for your Fintech product can be costly and time-consuming. Companies often have to spend a significant amount of effort to build and run various UX tests until they come to the target. With modular white-label front end, Velmie can compile different components to get your unique products and experiences delivered to the audience in just 1-2 months. This approach allows us to significantly reduce go-to-market time from around 1 year to just 1-2 months, saving you both CAPEX costs as well as reducing your time to market by up to 75%!

With over 30+ modules and components such as cards, crypto, Fx, QR payments, invoices, portfolio management and others, the front end tech can be a fit for the majority of Fintech products.

The advantages of white-label apps

When you're looking to launch a new Fintech product, you need a technology partner that can help you speed things up. Finding and retaining experienced app designers and developers with relevant background in the Fintech space may be challenging for early-stage companies.

Velmie doesn't only provide a toolkit but also do end-to-end delivery, bringing hassle-free service to companies that don’t have in-house tech expertise. Founders can stay focused on their business, customers, and partners while we deliver perfectly crafted apps and experiences with our unique tech. What’s more, API middleware technology provides fast connectivity to partner banks, so you can get your product into the market faster than ever before.

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