With ever-evolving technologies at hand, developing high-performance apps is now just a matter of decision-making, good skills, and optimum resources. While there have been many discussions regarding React Native mobile app development, we believe it’s time we understand whether it works for fintech applications.

1. Reasons to Choose React Native
for Fintech App Development
With ever-evolving technologies at hand, developing high-performance apps is now just
a matter of decision-making, good skills, and optimum resources. While there have been
many discussions regarding React Native mobile app development, we believe it’s time
we understand whether it works for fintech applications.
In this blog,
● What is React Native?
● How is it distinctive from other technologies?
● Benefits of using React Native for Fintech Solutions
Apps have changed how users perceive and receive services. Since users want to have
all services under their fingers and the world within their smartphones, businesses need
to think similarly. Fintech is one of the most progressive industries in the app
development sphere.
25% of the fintech market is acquired by digital payment applications. Since it’s expected
to expand even more in the future, investments in this sector look fruitful. However, there
are several aspects one must understand and make their app competent enough.
Technology being a major game-changer, let’s not waste time and talk about how React
Native is a good choice for fintech apps.

2. What is React Native?

3. Facebook launched React Native in 2005, and soon, it became one of the topmost
frameworks for mobile app development. React is a front-end JavaScript library which
itself is an explanation for its many benefits.
Considering the diversity of devices and operating systems, developing applications is a
complex task. That’s where React Native comes to the rescue. It eliminates the need for
writing separate codes for iOS and Android apps. Developing applications using this
framework saves time and resources on a large scale.
Since fintech applications tend to be a little more complex than others, seeking React
Native development services would be a great decision. Apart from its single-code
base, there’s a lot more React Native has to offer.
Why Choose React Native for Fintech App
Development
Let’s take a closer look at the features and benefits of React Native mobile app
development for fintech apps.
1. Facilitates Cross-Platform App Development
Cross-platform compatibility is a must for all kinds of applications today. Considering the
growing popularity of fintech applications, they should be used on various devices. Let’s
be real, developing apps for different platforms is a complicated affair.
React Native’s components and resources help in bridging the dissimilarities between
platforms and design interfaces. Since cross-platform development has a combined
code base, everything becomes easier and requires less effort, time, and resources. It
also ensures a consistent app identity on all platforms.
2. One-Time Coding
When building native apps, developers need to write separate codes for both iOS and
Android. But when you choose to hire a React Native mobile app development

4. company, it makes a lot of difference. This framework eliminates the need for separate
coding for iOS and Android. It’s easier to manage and requires less time and resources
as everything can be handled in the same place.
90-99% of correctly written code can be shared among iOS and Android.
Since the maximum smartphone market is covered by iOS and Android devices, building
a fintech app for these platforms should be your priority. In that case, a framework like
this one is a good place to start.
3. Faster and Affordable App Development
As said earlier, React Native requires fewer resources and time for writing codes. Thus,
it is a faster and more economical tool for developing reliable fintech applications. React
Native is comparatively easier to use. Also, it comes along with various ready-to-use
components that significantly speed up the development process.
Instead of hiring different developers or teams for iOS and Android apps, you just need
to look for a React Native app developer. This is absolutely a cost-saving option for
developing fintech apps if you have budget limits.
4. Easy UI Modifications and Relocation
When fintech applications are developed using React Native, they can leverage the one
great benefit of hot reloading. This feature allows the implementation of the latest
versions and modifications in the UI without the need to quit the running application.
Additionally, relocation of web developers to the React Native environment is easy since
it’s all about Javascript and some additional components and API.

5. 5. Productive Framework
With its interesting features and resources, React Native allows the creation of live
applications that keep up with the native-like performance. It comes with some of the
best design & debugging tools and browser extensions for Chrome and Firefox. Also, the
React Developer Tool smoothens coding to a great extent. Developers can also check
the component hierarchies of the React platform and track their parent components and
current status.
6. Easy Data Migration
Migrating data from older technologies and applications generally causes several
challenges. However, with React Native, data migration is simpler and more secure. To
make sure this is done perfectly for your application, you may discuss the concern with
the React Native development agency you choose to work with.
7. Popular Framework With a Growing Community
Over all these years, the React sphere has gained a lot of popularity among developers.
It has a growing community which means there’s enough support in case your
development team finds themselves stuck somewhere. Therefore, you can always find a
solution for your respective matter. Even if there are challenges, developers can pave
the way out of them. This significantly improves how fintech applications turn out to be
with React Native.
Seeking React Native App Development
Services?

6. React Native has significantly revolutionized app development. The above-mentioned
points surely convince you why it’s one of the best frameworks to use for developing
fintech applications.
● It speeds up add development and ensures that they run smoothly on all
platforms.
● Reduce the overall development expenses up to almost 40%
● Offers excellent user experience
● These projects can be managed well even by smaller teams because of the
one-time coding advantage.
For your app idea to be executed well, it’s very important to find a reliable React Native
mobile app development company. At Narola Infotech, we make sure to understand
your app requirements and curate a seamless solution. For similar services or queries,
feel free to connect with us.