Progressive Web App (PWA) & Fintech
The combination of native app and traditional web app elements in single software – Progressive Web Application (PWA) – has made it a favorite among entrepreneurs in running many e-commerce processes.
The essence and advantages of PWA collected in the following characteristics list:
- the application installs directly into the browser window of your site,
- it takes up a minimum of device memory, incl. operating memory,
- allows you to customize and target business offers with user-specific accuracy,
- helps to accelerate the growth of conversions and the level of customer retention,
- promotes the growth of your own app’s usage when you redirect from your website,
- set up takes a few seconds,
- works offline as well, etc.
What are the advantages of PWA for Fintech?
Today PWAs are becoming more versatile and important for different industries, when it comes to improvement of user experience, processes acceleration, especially for mobile apps, or automation, and Fintech takes place among them. Below, we will consider the areas of Fintech in which PWAs have already become a must-have.
PWA for Banking Apps has several advantages from the features of the website and the application that can come in handy for banking purposes. The web part will allow you to quickly find applications in search engines. You can share your discovery with friends right away or postpone the transfer of data, which is impossible with conventional applications.
Another part of PWA, for mobile apps, will help to solve screen scaling problems. A functional user interface design that helps to customize different screens and monitors view, which is vital for banking transactions that tend to suffer from incorrect placement and clipped buttons (remember how nervous you were, when you clicked the wrong button and sent money to the wrong account).
Fast installation and small size are also important features, as usual banking applications take up a lot of RAM, which slows them down.
With TLS and HTTPS encryption, Progressive Web Apps preserve the security aspect of mobile banking that is critical, as you trust the app with your credit card and personal information.
The costs of developing, supporting and updating PWA-based banking apps are much lower compared to native apps.
Financial and Customer management
The PWAs effectively transforms the web-application and allows the user to import / sync data, receive account and credit card statements in real time and offline if needed.
PWAs are designed by using a single code, so there is no need to develop an application for each platform separately and from scratch. The add-to-home-screen feature makes it very easy to use and manage your clients’ data. PWA allows you to generate secure reports on the go, making it easier for users to track financial data as well.
Field-specific Fintech (POD, Social media business)
Print on Demand
PWA integration into your Print on Demand website is the ideal solution and effective tool for promoting your business. Here, the functions such as user-specific customization, regions (using different languages) and speed play a critical role.
The Print on Demand approach itself is based on these features, but sometimes developers or startups do not have enough time to create even more exclusive offers. Or, for some reason, each stage takes a very long time. If you add a delivery delay here, then it’s the case when you can lose your customers, in fact.
PWA will automate the processes of interaction with users before ordering, thereby speeding up the total interaction time by several times. Use the PWA with POD-specific automation tool, PODza. This assistant will speed up the rest of the interaction time (order, post-order, delivery).
Thus, an application of only a few bytes, which requires a little money for its development, will help your business to take off in such short time.
What is the most commonly associated word with social media when it comes to marketing and social media marketing? That’s right, virality. Every entrepreneur and marketer strives to ensure that content with information about their service or product goes viral, thereby attracting more customers and developing word of mouth. And many succeed. However, sometimes, despite a good strategy and careful efforts, viral content does not bring as many conversions and sales as needed. What is the problem?
In the context of the social media business, the key benefit of using PWAs for Fintech is speeding up the transition to transactions, provided by mini-assistants.
The fact is that many users are too lazy to go to a website to buy right away and prefer to put it off until later. And then they can forget or change their mind.
So, for these cases that PWA integration is needed. A user, who sees a product they like, will not only like it or share it, but immediately place an order, without any need to leave the main application, go to a third-party website or wait for the Internet connection.
Marketers can also rest assured that their ad campaigns and special offers won’t stay unnoticed.
These were the most common tasks that can be accomplished with progressive web applications. The reasons mentioned above are actually the key success factors for digital business, e-commerce, and the financial digital ecosystem.
Unlike many other native and web applications, PWAs don’t require the huge investments of time, efforts, money, staffing, or specialized training, so ROI is even more valuable.
Many professional websites already offer their updates, advices and areas PWA can be used in, for example, Multi-Programming Solutions, therefore, you can always follow the development of the solution and get an information about how to use it as efficiently as possible in accordance with the new trends.
PWA is the case when simplification prevails over complexity, and when less is more. Despite its widespread adoption, there are still so many both established businesses and startups that have not yet integrated them into their strategies and websites. Therefore, their presence is still a competitive advantage. Do not miss this wave at its dawn, otherwise there is a risk of missing your opportunities, which will be difficult to reach when competitors will up to its top.