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Startup , Fintech ,

8 Most Innovative Fintech Apps Idea for Startup

Posted On: May 23, 2023 | min read

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Fintech, the term itself outcomes from technology innovation in the financial sector. Since smartphones have been an integral part of our life and we are seeking more ways to use them for more convenience and being more productive, digitization showed up as a result of it. Technology trends have changed every facet of fintech apps and our financial usage. Digitization of the financial industry has accelerated the fintech industry’s growth drastically while fintech startups are bringing more convenient solutions. The emerging technologies remodifying conventional banking have made it more profitable, and quick.

An Overview of Fintech the Industry Worldwide

The global financial economy is heading towards Fintech application adaptation. The covid-19 outbreak accelerated the growth of digitalized architecture including daily essential scapes. Some of the industries shifting to a digital-only format became the fuel to survive in the market. The numbers from several research on the fintech industry are showing the fact of a digitized market.

According to research from Statista, the investment graph in the fintech industry has always been linear and upward. Since 2019, the amount has increased drastically. In 2019, the amount reached around 216.8 billion U.S. dollars. The latest amount in 2022 shows the investment valued at about 239 billion US dollars (Global investments in fintech companies 2022 | Statista (2023).

Expecting a steady increase in the fintech revenue value between 2019 and 2024. As per a forecast on Statista, the revenue in the Asia Pacific region is only expected to be around 96 billion euros in 2024 (Fintech: worldwide revenue by region | Statista (2023).

The increasing value of this particular sector has interested entrepreneurs and traditional investors. Looking for a wider opportunity to enter the market with their fintech startup ideas. Based on a region-specific study on Statista, the number of fintech startups in America is 10,755, with 9,323 startups in the EMEA region (Europe, the Middle East, and Africa), and 6,268 in the Asia Pacific region (Number of fintech startups globally by region 2023 | Statista (2023).

Discover the Current Trends of the Fintech Industry

The onset of Covid 19 pandemic has surged the digitalization of financial services. Consumer behavior in financial management such as bill payments and making huge transactions underwent a massive change in past years. Fintech app development has ensured consumer security and safety during transactions.

The end of the year 2022 has witnessed an exponential growth of fintech startup ideas, and its market value has raised up to $ 309.98 bn. The fintech application market is expected to reach 188 billion euros by the end of fiscal year 2024. The new trends of technology in finance are “Artificial Intelligence, data security, blockchain, big data, microservices, voice-enabled payments, open banking, virtual card, biometric technology, and gamification”. As per global market and research predictions, the AI market of fintech services will reach the value of 22.6 billion USD by the end of the financial year 2025. Financial advice, detection of fraudulent activities, account management, and analysis of high-volume data have become simple through “Artificial intelligence, big data, and blockchain models” in the fintech industry. Interconnected services are provided through biometric and microservice technology.

Currently, mobile banking applications are generating 80% of global fintech revenue. Investment in global fintech organizations has reached a margin of USD 201.1 billion in the year 2021. Initially, investors were concerned about insurtech, payment services, cyber security, and sustainability. Along with the flow of time, the cryptocurrency and blockchain market has seen major upheaval. Neo banking, DeFi, Marketplace banking, Digital Payment, Investments and savings along with digital lending and loans are new trends in fintech applications.

Place Yourself in the Market Successfully with these Fintech App Ideas


As the market is seeing a surge in investments it is a good time to be part of it and start the fintech startup you have been thinking for long. The acceleration of digitization is pushing the market upwards it is the place to bring an innovative fintech solution to the market. Here are some of the fintech start-up app ideas that people would believe and reduce their crisis.

1. Mobile banking apps

As the customer trend is setting towards digital banking the demand for mobile banking apps is getting higher. The Hassle-free quick banking services are emerging the need for digital-only banks. Also, the world after the pandemic is being more cautious of health therefore, the need for social distancing is bringing these banks into the market. Top digital-only fintech banks like Nubank and Judo Bank have emerged in the market with great demand.

Many well-known traditional banks have built namesakes of mobile banking apps as well like Wells Fargo.

2. Lending apps

Since Microfinance apps are also being used that provide quick short-term loans without any documentation, this can be an idea for startups in the fintech sector.

Using artificial intelligence and big data analytics lending apps simplifies the process of load assignment. It analyzes the customer data, behavioral pattern, credit history, and purchase pattern and approves if the customer is eligible for a loan.

3. Finance management app

We all have faced or are still in the ground of facing personal financial management issues. It has always been a challenge for proper savings and investments. As investments are more subjected to market risks personal finance advisor would be a good idea for the fintech startup. Personal finance management apps like Mint, are an overall solution for all your personal accounting maintenance. Whereas, Empower formerly known as Personal Capital has emerged as the best solution for wealth management apps.

4. Electronic mortgage app

Post pandemic situation has made the mortgage market more challenging making it harder for people to get a mortgage. E-mortgage fintech applications can be a brilliant idea for startups. It can simplify the process of the mortgage application.

Rocket Mortgage, an application for online lending with a wide range of options, and Guild Mortgage, the best online lender for speedy closings has set an example by getting featured in the top business magazine Forbes.

(Campisi, N. (2023) Best online mortgage lenders of May 2023, Forbes)

5. Insurtech app

A fintech application that helps in the insurance underwriting process is called an insurtech app. These apps use AI and data science to collect, process, and evaluate customer data. These apps target different aspects of insurance domains.

MyCigna is an insurtech app built by Cigna insurance company to keep track of your healthcare expenses through insurance. Also, they can claim through the application as well.

6. Peer-2-Peer payment app

This can be considered as one of the fresh fintech startup ideas. The app is used to transfer money between friends or families. the customer can directly deposit the amount to the recipient’s e-wallet. It is immediately connected with banks, digital wallets, and standalone payment services. Paypal has been in the market for a long and it is one of the most trusted payment apps among customers.

7. Digitalized wallet app

This fintech application helps to keep the entire bank data in one central place. Replace the hazards of cash and physical credit cards. Pay directly from the app anytime. Also, it adds value for the customers as coupons and cashback bonuses.

If you are looking to create your startup space in this segment then take a closer look at Apple Wallet and Payzapp which are complete payment solutions. On Apple Wallet, you can also store coupons, boarding passes, and more.

8. Cryptocurrency app

Using the Blockchain, cryptocurrency apps are built to make the process of crypto trading easier. Coinbase is one of the top crypto trading apps. Here, you can securely buy, sell, trade, store, and stake crypto.


Keeping in the growth of the fintech industry, it is also true that not all startups are able to be on the brighter side. Many innovative ideas are emerging in the market while many are shutting down. The successful ones are always the amalgamation of innovation, technology, expertise, trust, and creativity. Focusing on the true pain points of the target market can be the idea of developing a high-demanding fintech application.



Global investments in fintech companies 2022 | Statista (2023). Available at: (Accessed: 11 May 2023).

Number of fintech startups globally by region 2023 | Statista (2023). Available at: (Accessed: 11 May 2023).

Fintech: worldwide revenue by region | Statista (2023). Available at: (Accessed: 11 May 2023).

Campisi, N. (2023) Best online mortgage lenders of May 2023, Forbes. Available at: (Accessed: 11 May 2023).

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