Application development

0

Distributed Ledger Technology: A Helping Hand! 

Posted on by Admin

Distributed ledger technology (DLT), often synonymous with blockchain, is transforming the BSFI industry with its unique ability to create a secure, transparent, and shared record of transactions. Here’s how it’s making a difference: 

Enhanced Efficiency and Speed: 

  • Streamlined processes: DLT automates manual tasks and eliminates intermediaries, reducing time and costs for processes like trade finance, payments, and regulatory reporting. 
  • Faster settlements: Transactions occur in real-time or near real-time, unlike traditional settlement systems that can take days. This improves cash flow and liquidity management. 

Improved Transparency and Trust: 

  • Immutable records: Every transaction is recorded chronologically and immutably, creating a single source of truth that all participants can access. This reduces errors, disputes, and the need for reconciliation. 
  • Enhanced traceability: The entire history of an asset or transaction is visible, fostering greater accountability and auditability. This benefits areas like KYC/AML compliance and fraud prevention. 

——————————————————————————————————————————- 

Innovation and New Business Models: 

  • Tokenization: Assets like securities, loans, and even identities can be tokenized on DLT, enabling fractional ownership, automated smart contracts, and new financial products. 
  • Decentralized finance (DeFi): DLT empowers peer-to-peer financial services without intermediaries, potentially making finance more accessible and inclusive. 

However, challenges remain: 

  • Scalability and performance: Public blockchains can struggle with scalability for high-volume transactions. Private DLTs offer better performance but sacrifice decentralization. 
  • Regulation and interoperability: Regulatory frameworks are still evolving, and different DLT platforms lack universal interoperability, hindering wider adoption. 

We, like many other software development companies are increasingly embracing embedded finance for several reasons like payments, microloans, or insurance within non-financial platforms creates new revenue opportunities through commissions, fees, or data monetization.  

Ultimately, distributed ledger technology and embedded finance represent exciting opportunities for the BSFI industry and software development companies like FERMION. By addressing the challenges and leveraging the potential effectively, these technologies can contribute to building a more efficient, transparent, and innovative financial landscape.  

1

Beginner’s Guide to Mobile App Development [2022]

Posted on by Admin
Mobile App Development
Mobile App Development

In this article, we will be talking about how to develop your first GREAT mobile application. First-timers are always curious about their first mobile application development. How long does it take to build one? What basic lessons does it take to build? Do we need any budget? What tools do I need for mobile application development? 

And many more questions come to our mind. 

Today, we will be sharing a few tips on your first mobile app project. We will take you from market validation to writing a clean code and share tips on marketing your application to reach users. 

Stay with us! 

Mobile applications are becoming popular by every passing minute. Indeed, mobile is the future. Whether you want to build a gaming app, my taxi locator app, or an ecommerce app, you must learn a few basic lessons before getting into the development part. Let’s take advantage of this rapidly growing industry! 

What is Mobile Application Development?  

Mobile app development is basically developing a mobile application for users. This includes software installation on devices, backend services for data, & testing for various devices. 

To be successful, you need to consider different mobile interfaces, pixel dimensions, and many other affecting parameters involved in your objective. It is important to understand your business requirements, your buyer persona, and ease of use of the backend. 

Step by Step – Mobile Application Development 

  • Brainstorming

Before proceeding with the design and deployment phase of mobile app development, you need to brainstorm exactly what your application will do and who is the beneficiary. You might have already jot down a rough persona of your audience, but it’s now time to get serious. 

Ask yourself what problems people are currently facing in your niche. Then, pen down how exactly your application will benefit them. This helps you in planning a useful application and makes it easy to pitch people. 

No one wants to install and use an unfinished application in competition with current competitors. Get yourself right on every parameter. What features will you be providing to your users? What in-app notifications will be pushed? Get all your basic doubts cleared in this stage itself. 

Once you move towards developing your mobile app, there’s no going back. Else, the app will just be just a scattered piece of raw features.

  • Development 

Once you have thought of all the possibilities and features of application, move towards development. Start with designing your app first. However, you’ll need to work with an experienced developer to create a prototype.  

This will allow you to test and create a fool proof app before you release it on the app store for business. You will also need to register as an app developer in order to decide your software compatibility. 

This will ensure that your app is compatible with the types of devices and services that you plan on using. It will also help you choose the right programming language for mobile application development.  

  • Release & Marketing 

Congratulations on being done on your first ever design of your mobile app. Now, you need to bring it to the market and reach millions of possible users. Target as many downloads as possible and get feedback. This will eventually help you stay competitive in the market.  

Once you have made it to release on the app store listing, focus on marketing your application. But how exactly are you going to ensure that people download your app?  

Write a concise and short app description on the store. Use keywords to make it easily searchable. Look for regular upgrades. Solve bugs and errors continuously and make it as useful as possible.  

Popular Languages to Develop Mobile Application 

  • Flutter 
  • Java 
  • Kotlin 
  • Swift, etc. 

Conclusion 

We understand that there are many learners who may not have the relevant experience in app development. You may not be fluent in so many programming languages. Here, at Fermion Infotech, we have experts with proven experience in software development, consultation services, and what not?  

Looking for website/ mobile application development services? Connect us at connect@fermion.in