Do you want to create a website like Groupon and start making money? Then follow the link and read our article on this topic.

We all love discounts, right? That's why aggregators like Groupon are so popular 

What Do I Need to Do to Start an Online Coupon Business like Groupon?

Do you know what the software discovery phase is? We believe so, because the concept is gaining popularity month by month. And here's why!
You see, it is Discovery that allows you to find the right approach to project implementation. It offers you the best solution to delivering the product, capable of meeting all crucial user needs.&nbsp;
Definitely, we could tell you about Discovery and its benefits for a long time, but why waste time if the key information has already been crying for your attention? Just <a style="color: #3598db;" href="https://agilie.com/blog/project-discovery-phase" target="_blank" rel="noopener">follow the link</a> and read the article covering this very topic.
And now we'd like to discuss with you another issue, namely, two discovery phases, or rather, two ways of conducting research and analysis.&nbsp;
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650630916324.png" alt="discovery stage" width="1000" height="410" />
As a rule, we, the Agilie team, work remotely and perform the required activities online. But if necessary, we&rsquo;re ready to visit your office in person and get information on site, so to say.
What should you choose? The answer is in the blog piece below. And we start, as usual, with the basics.
<h2 dir="ltr" style="text-align: justify;">Why Do You Need a Software Discovery Phase?</h2>
Of course, Discovery is hardly an obligatory project part. That's why many skip or reduce it and start with the Delivery steps right away... which they usually regret later. The thing is, they think they're saving time and/or money, but it's not really the case. In the long run, they're losing much more resources because this kind of short-sighted savings result in increased costs over time. It's not worth the risk.
The story with the Everest app serves as proof. The original idea was to create a digital platform aimed at helping users make their dreams come true. The features included setting goals, describing steps to achieve them, getting support from like-minded people, and so on.&nbsp;
The start of the project was successful: investors allocated $2+ million to finance its implementation. Alas, the developers failed to meet the promised six-month deadline. They paid too much attention to secondary features (such as offline synchronization: an option, which took too long to implement)... while they should have focused on releasing an MVP model first (the app with basic functionality).
Eventually, the app entered the market, but it was too slow and had poor UI/UX. And a few years later, the project had to be suspended. The most annoying thing about that is that the software discovery phase would have helped to avoid such a sad outcome.
If you don&rsquo;t want the same fate as Everest, don't skimp on the initial thorough research.
<h2 dir="ltr" style="text-align: justify;">What is a Discovery Stage Team?</h2>
Discovery takes from 2 weeks to a few months (roughly speaking) and involves a whole team of experts, including a business analyst, designer, technical specialist, project manager, and many others. They help the startup owner to understand how to approach the project, what features to create in the first place, what technology stack to choose to ensure the software runs smoothly. In other words, they'll explain to you how not to disappoint future users.
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To get detailed information on all Discovery experts and their responsibilities, see the article we linked to in the introduction.
</li>
</ul>
The aforementioned specialists can perform their work remotely; still further, the online format won't prevent them from showing their best (it's the so-called OFFSITE Discovery). However, in some cases, the business analyst and manager may visit the client personally to conduct on-site research (which is known as ONSITE Discovery). This way, they get first-hand information, dive into the nature of their client's business, and find out all the details.
Sounds good, but this has a downside as well. Moreover, both methods have their pros and cons, and the choice of a particular technique depends on the project's specifics.
Let's take a closer look at what's right for you and your startup.
<h2 dir="ltr" style="text-align: justify;">ONSITE vs OFFSITE Discovery Phases</h2>
Let's briefly remind you of what steps Discovery traditionally consists of (in the above article, you'll find their full description). <img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650630952462.png" alt="software discovery phase" width="1000" height="340" />
It doesn't really matter if we only do Discovery online or include offline activities too. In both cases, we go through the same stages. The main difference is the methods and tools we use to achieve the desired result (say, a personal interview in Onsite Discovery and an online survey when working 100% remotely).
<h3 dir="ltr" style="text-align: justify;">OFFSITE Software Discovery Phase</h3>
Although the name sounds like it's offline, Offsite Discovery is all about remote work on the project (because we're working off site, and we mean your site). Undoubtedly, the option is at its peak today; and the following list explains why by highlighting the main benefits of online research:
<ul style="text-align: justify;">
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New challenges of the times: we mean, of course, the coronavirus and the pandemic it has caused. Over the past couple of years, we&rsquo;ve learned and got used to working remotely.
</li>
<li dir="ltr" aria-level="1">
Saving time: no need to go anywhere, the project discussion takes place remotely. And it does matter, as businessmen are usually on tight schedules.
</li>
<li dir="ltr" aria-level="1">
Saving money (we&rsquo;ll discuss this advantage of Offsite Discovery a little later).
</li>
<li dir="ltr" aria-level="1">
Convenience to the max. And finally, Offsite Discovery is really convenient! You aren&rsquo;t limited by anything: neither the time zone, nor the location, nor other factors.
</li>
</ul>
However, sometimes you have to resort to the help of personal meetings. Let's discuss the option at greater length, shall we?
<h3 dir="ltr" style="text-align: justify;">ONSITE + OFFSITE Discovery Stage</h3>
Just so we're clear: the Onsite approach doesn't work by itself. Offsite activities will still be part of the project. Personal visits are needed to collect information about the client's business, conduct interviews with those who own crucial data, and perform similar offline activities. The subsequent processing of the gathered information will take place remotely (online) anyway. You see, requirements analysis involves a lot of time and effort... starting it on the client's location (site) is expensive and therefore makes zero sense.
Let's not deny, though: Onsite Discovery is very effective&hellip; but only if you manage to organize the process correctly. If you want Agilie experts to personally visit you, be sure to keep them busy all the time. Also, your employees must be ready to spend time with our specialists, answer their questions, and help them understand how your company works. And we're not talking about a few hours... The visit may last at least a week (otherwise, there is no point in Onsite Discovery).
Agree, if the business analyst just walks around one of your offices, he'll be of little help to the project. The final results are likely to be minimal (at high costs).
<h3 dir="ltr" style="text-align: justify;">What About Discovery Phases&rsquo; Cost?</h3>
Surely you&rsquo;ve already been wondering how long Discovery takes, right? We have the answer to your question, although the data is rather approximate (each project is unique).
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650631009666.png" alt="discovery phases" width="1000" height="281" />
As you can see, the implementation of the Discovery phase in the case of small and medium-sized projects takes a similar time, regardless of the chosen approach. But when it comes to large projects, the situation changes: Onsite + Offsite method gives faster results, which is hardly surprising. In the end, personal presence allows the expert team to get answers to all burning questions here and now, so to speak: you and your employees provide maximum information in real time. However, Discovery's accelerated process doesn't make it cheaper&hellip; quite the contrary.
See for yourself!
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1650631024526.png" alt="discovery phases" width="1000" height="281" />
We cannot name the exact cost of the Discovery phases, whether it's offsite or onsite, a lot depends on the specific project and the techniques used. But exact data isn't needed anyway (at least, right now): as the second table shows, research, which includes online and offline activities, entails additional expenses.&nbsp;
The explanation is simple: firstly, you should cover the cost of full board and accommodation for our team (usually, it's about a business analyst and a project manager, although there may be other options). Secondly, you need to finance the flight too (it would be unwise of us to work at a loss, right?). In addition, several of your employees will have to spend their precious time accompanying Agilie experts and showing them your business from the inside, figuratively speaking.
That's why so many people prefer the offsite format... The only question is how to make sure the Discovery phase remains effective even when executed remotely. What can we offer in this regard?
<h2 dir="ltr" style="text-align: justify;">How to Conduct the Discovery Stage Online?</h2>
Among our advantages is the willingness to work in a flexible mode and adapt to your needs. You yourself, as a client, choose a convenient interaction format, including a suitable time zone. And we use our best efforts to provide appropriate working conditions.
To be specific, here is what we offer as part of Offsite Discovery:
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
agile approach to Discovery, when the development process is divided into repetitive cycles (sprints). Thus, we remain as flexible as possible and more easily respond to any changes.&nbsp;
</li>
<li dir="ltr" aria-level="1">
careful planning of current and future activities using modern digital tools, including the popular Google calendar.
</li>
<li dir="ltr" aria-level="1">
daily online/offline meetings within our Discovery team, which means each of its members stays abreast of developments. It also ensures transparency of processes.
</li>
<li dir="ltr" aria-level="1">
regular communication with the client (with you), so that you are in the know and can offer new ideas, if you have any. Our interaction channels include the following:
</li>
<ul>
<li dir="ltr" aria-level="2">
real-time communication in instant messengers (Viber or WhatsApp) and similar programs (Skype, Slack, etc.). If necessary, we can arrange an audio or video call;
</li>
<li dir="ltr" aria-level="2">
email communication, which allows you to write to us when you are in a hurry to convey some important information but there is no time to make a call right away;
</li>
<li dir="ltr" aria-level="2">
Google Meet/Zoom conferences if there is a need to have a longer and more detailed business conversation.
</li>
</ul>
</ul>
All the proposed ways to conduct the Offsite discovery stage aren&rsquo;t just a set of theories. We've tested them in practice, and they've proved effective and decisive.
For more information about our Discovery services, <a href="https://agilie.com/expertise/discovery" target="_blank" rel="noopener">follow the link</a>.
<h2 dir="ltr" style="text-align: justify;">Summary</h2>
Of course, there are situations when personal presence is preferable. So let&rsquo;s not completely dismiss the Onsite approach to the Discovery stage. Instead, we invite you to discuss your project and decide which of the two options is the ideal solution in your case.
&nbsp;

The discovery stage is the key to the success of the entire digital project. But which approach to choose, onsite or offsite? Our article answers this question 👌🏽 Follow the link to learn all about the two types of software discovery phases 😉

The discovery stage is the key to the success of the entire digital project. But which approach to choose, onsite or offsite? Our article answers this question 👌🏽 Follow the link to learn all about the two types of software discovery phases 😉

ONSITE & OFFSITE Discovery Phases: What To Choose?

There are different ways to approach the Discovery phase in a project. And we&rsquo;re covering the most popular options in our new blog piece.

Discovery is the best way to start a project and make it successful 

Waterfall vs Agile Approaches to the Discovery Process

The launch of a thought-out mobile application is a proven way to speed up the development of your business and make it stronger. Let&rsquo;s assume you realize the urgent need for creating an app. So, where to start? Don&rsquo;t waste your time on the planning process. Start the implementation by trying to find an app development company, which would help you analyze your market and figure out the necessary features of the future product. In this article, we are going to consider different approaches to cooperation and find out which one is better.
<h2 dir="ltr">In-House Team vs Freelancer vs Outsource Team</h2>
There are three options in project implementation.
<h3 dir="ltr">IT department as part of your company</h3>
In other words, hiring mobile app developers into your team. The vast majority of businesses avoid the option because drawbacks exceed its benefits.
Pros:
<ul style="list-style-type: disc;">
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Full control over the development process;
</li>
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Easier communication (opportunity to convey thoughts, ideas, and requirements during the development process);
</li>
<li dir="ltr" aria-level="1">
Protected data. 23% of entrepreneurs are concerned about information leaks. To be honest, the problem is relevant if you cooperate with low-cost project executors.
</li>
</ul>
Cons:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
High costs. In outsourcing, you can find mobile app developers with greater experience who cost less. Moreover, you are able to save up on office rent, software licenses, and so on;
</li>
<li dir="ltr" aria-level="1">
The need to ensure the &ldquo;right&rdquo; environment. It&rsquo;s a well-known fact that the labor market experiences a lack of talents. So, in order to get the desirable results, you have то make sure your employees take an advanced professional training from time to time.
</li>
<li dir="ltr" aria-level="1">
Time-consuming process. Sometimes hiring an app development team takes weeks and months, not including the preparation and resolution of emerging difficulties (sick leaves, layoffs, and suchlike).
</li>
</ul>
The in-house approach is suitable for IT and Telecom companies with continuous tasks and decent time reserve.
<h3 dir="ltr">Freelance services</h3>
Freelancing seems to be a wonderful cost-effective option. However, the reality is going to be different.
Pros:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Fewer expenses. Freelancers don&rsquo;t have as many expenses as companies, so they offer a good service price. Moreover, paying for vacation days, social security, and other stuff is out of the question;
</li>
<li dir="ltr" aria-level="1">
The ability to order exactly what you need from different specialists.
</li>
</ul>
Cons:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Freelancers aren&rsquo;t interested in the success of your company, so the work result may be insufficient;
</li>
<li dir="ltr" aria-level="1">
The necessity of thorough control at every stage of product implementation that is going to take a lot of your precious time;
</li>
<li dir="ltr" aria-level="1">
Delays and disruptions of plans. You are not able to influence the situation when your executor disappears. The question &ldquo;How to find an app developer quickly?&rdquo; arises in such cases.
</li>
<li dir="ltr" aria-level="1">
Risk of the budget increase. Let&rsquo;s assume you aren&rsquo;t satisfied with the freelancer's work. Sometimes finalizing a project is impossible: it&rsquo;s easier to start implementing an application from scratch than to make improvements to the existing one. It extremely increases the budget. In addition, the time to market is shifting causing additional implicit costs (lost profit).
</li>
</ul>
Thus, freelance is good for small projects and short-term solutions.
<h3 dir="ltr">Outsourcing</h3>
It is the most common approach even if you are working on a large continuous project. The main benefits we would like to list are:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Cheaper development. You may be sure about getting a professional solution for an adequate price (our team always tries to offer discounts and find ways to reduce costs by avoiding certain expensive technologies);
</li>
<li dir="ltr" aria-level="1">
Working with high-qualified developers. Freelance is usually about middle developers while IT companies include senior specialists. They conduct some studies to provide your clients with the best user experience;
</li>
<li dir="ltr" aria-level="1">
Availability of a contract. Working with an app development company requires the conclusion of an agreement. It guarantees you&rsquo;ll get what you need;
</li>
<li dir="ltr" aria-level="1">
The possibility of long-term cooperation. You interact with a company, not with one specific executor. So, you can count on maintaining your product after its launch all the time while the company provides services;
</li>
<li dir="ltr" aria-level="1">
Scalability. You are able to expand or lessen the size of the team to fit the exact needs of your project.
</li>
</ul>
Cons:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Price is higher compared to the freelance option.
</li>
<li dir="ltr" aria-level="1">
Possible difficulties with money transfers. Freelance exchanges usually provide users with convenient and cheap ways to send and receive money. Unfortunately, you will have to find such methods independently.
</li>
</ul>
Every entrepreneur tries to implement his project inexpensively, fast, and qualitatively. Outsourcing allows you to come to a compromise.
<h2 dir="ltr">What to Consider When Choosing Mobile Developers?</h2>
The main tips on how to find app developers are as follows.
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Check a portfolio. Figure out if the chosen company has examples from your particular industry. Estimate such works and determine whether they solve business problems and cover users&rsquo; needs or not.
</li>
<li dir="ltr" aria-level="1">
Analyze reviews on independent platforms. Or contact former clients of the company.
</li>
<li dir="ltr" aria-level="1">
Assess the company&rsquo;s experience. Find out how many years the team has been operating and what industries it has dealt with.
</li>
<li dir="ltr" aria-level="1">
Look at prices. They are usually not final, so it is very important to describe your project in detail to a manager.
</li>
<li dir="ltr" aria-level="1">
Focus on communication. If the first discussion of your future product didn&rsquo;t satisfy you, we recommend choosing another executor. The poor relationship causes misunderstandings and predicaments.
</li>
<li dir="ltr" aria-level="1">
Ask for approximate shipping time. Sometimes the extra charge is necessary to fulfill your task on time.
</li>
</ul>
<h2 dir="ltr">Where to Look For?</h2>
Unfortunately, hiring an app development team requires time and patience. The common ways and web resources are:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Freelance exchanges. It&rsquo;s worth mentioning the platforms always take some fees for their intermediary services.
</li>
<li dir="ltr" aria-level="1">
IT blogs. The main advantage is they allow you to see the author&rsquo;s qualification in a specific topic.
</li>
<li dir="ltr" aria-level="1">
Communities. There are special sites where designers and developers present their works (an example is Dribbble).
</li>
<li dir="ltr" aria-level="1">
B2B directories. In such catalogs, you can find information about different companies and their ratings.
</li>
<li dir="ltr" aria-level="1">
Networking. Ask your partners, colleagues, friends, and so on.
</li>
<li dir="ltr" aria-level="1">
Search results. Top positions in the search results indicate the reputation of the web resources. It means they invest in long-lasting SEO promotion and aren&rsquo;t one-day businesses. However, be careful on the Internet.
</li>
</ul>
<h2 dir="ltr">How to Find Your Mobile Development Team?</h2>
Below, we have cited a rundown, which is going to help you hire mobile app developers.
1. Setting goals. Be clear about your business purposes and app concept. It will allow managers to understand what expertise you really need.
2. Choosing a type of cooperation, tools, and platforms where executors offer development services.
3. Listing appropriate candidates, comparing them according to the following criteria:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Experience;
</li>
<li dir="ltr" aria-level="1">
Development approach (agile is preferable to waterfall);
</li>
<li dir="ltr" aria-level="1">
Specialty;
</li>
<li dir="ltr" aria-level="1">
Programming tools;
</li>
<li dir="ltr" aria-level="1">
Reviews;
</li>
<li dir="ltr" aria-level="1">
Availability of contracts;
</li>
<li dir="ltr" aria-level="1">
Quality of communication.
</li>
</ul>
Don&rsquo;t hire a jack-of-all-trades &ldquo;expert&rdquo; because you risk failing your entire project. Most professional developers specialize in creating a certain type of apps.
4. Seeing if you are able to find some common ground with the leader of the chosen company. If everything is alright, you can move forward.
<h2 dir="ltr">Agilie Mobile Development Team</h2>
In the USA, users spend more than 5 hours every day staring at the screens of their mobile devices. Despite that fact, the list of applications being used isn&rsquo;t wide. It says one thing: you have to fight for attention by launching a top-notch solution. Finding mobile app developers in outsourcing is an approach that would allow you to implement your ideas efficiently and for adequate money.
We at Agilie have been operating since 2010, so we have all the necessary resources and expertise to create modern digital products. In addition, our services don&rsquo;t cost an arm and a leg. Get hold of us by using the following link when you&rsquo;ll be ready: <a href="https://agilie.com/contacts">agilie.com/contacts</a>
&nbsp;

<span style="color: #0d0d0d; font-family: S&ouml;hne, ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Ubuntu, Cantarell, 'Noto Sans', sans-serif, 'Helvetica Neue', Arial, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; font-size: 16px; white-space-collapse: preserve; background-color: #ffffff;">What to choose: An in-house team, Freelancing, or an outsourced team? Let&rsquo;s find out together.

There are three approaches to hiring mobile app developers. We have compared each of them and found out the best one 

How to Find and Hire The Best Mobile Development Team

When you are running a startup, many things about its implementation are unclear and blurred. In order to prevent an unexpected result and make a launch map, specialists conduct <a href="https://agilie.com/blog/project-discovery-phase">the Discovery phase</a>. The working group includes different experts, and one of them is a solution architect. Let&rsquo;s find out how he can help you in website development.
<h2 dir="ltr">Basics about the Discovery Project</h2>
The Discovery is the first stage in project implementation. It helps to ascertain the necessary technologies and actions to successfully create and then promote your web resource. In fact, the Discovery phase of website development is an analysis with different approaches to research. It is a more agile solution that is perfectly suited to the ever-changing IT market.
The analysis at the very beginning of project implementation will help you find answers to the following questions:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
What part of the market are you going to engage in?
</li>
<li dir="ltr" aria-level="1">
Who are your competitors?
</li>
<li dir="ltr" aria-level="1">
What are your purposes and wishes in conjunction with your resources?
</li>
<li dir="ltr" aria-level="1">
What do you need to create an MVP (technologies required)?
</li>
<li dir="ltr" aria-level="1">
How much will it cost?
</li>
</ul>
Moreover, you&rsquo;ll get a clickable prototype and a carefully thought-out business model. UX/UI designers and business analysts are responsible for that. However, in this article, we are going to look at the work of solution architects during the Discovery phase of web development.
<h2 dir="ltr">Who is a Solution Architect?</h2>
One of the Discovery stages is a technical analysis performed by a solution architect who is usually a senior developer. He helps to release the product on time and on budget. In addition, he is responsible for ensuring that your website solves all the problems assigned to it. Take a look at other tasks of solution architects:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
preparing descriptions for every feature;
</li>
<li dir="ltr" aria-level="1">
cooperation with a business analyst to find the best implementation approach;
</li>
<li dir="ltr" aria-level="1">
developing a structure for the whole project;
</li>
<li dir="ltr" aria-level="1">
conducting research to find appropriate solutions for solving certain problems;
</li>
<li dir="ltr" aria-level="1">
finding ways to avoid technical risks;
</li>
<li dir="ltr" aria-level="1">
scheduling the process of product implementation.
</li>
</ul>
So, during the Discovery phase of website development, a solution architect encompasses business, system, information, security, application, and technology architecture.
<h2 dir="ltr">The Necessary Skills of a Solutions Architect</h2>
To align IT solutions successfully, it&rsquo;s not enough to have strong technical skills. No less important are soft skills, namely leadership. The specialists who are usually senior developers communicate with leaders, managers, and employees across every business unit.
Concerning hard skills, a solution architect should sort out specific IT areas, such as networking administration, development, customer service, or other relevant fields. A bachelor&rsquo;s degree or higher in information technology, computer science, software engineering, or a related field is mandatory.
In addition, it is important to have marketing knowledge because the solution architect&nbsp;must understand the requirements of businesses to offer a suitable and competitive solution.
<h2 dir="ltr">Why You Shouldn&rsquo;t Ignore the Research Stage</h2>
The Discovery phase before web development allows you to determine whether you are at risk of failure or not. This is why you should cooperate with a highly-experienced team, which can estimate your chances to achieve all goals.
In any company that intends to succeed, the architecture of solutions is developed. This is the practice of designing, describing, and managing solutions. So, the Discovery will show the capability of project launch according to the business tasks and goals.
Specialists find ways to cover customer needs with certain software solutions. It&rsquo;s obvious that every software requires hardware, so a solution architect describes standards for firmware, control systems, etc. He is able to consult you on how to implement your plans while other experts involved in the website Discovery phase assess the questions of what to do and how to maintain the platform already developed.
The low cost of marketing and development services always beckons but the risk of failure usually hides under it. Only a professional company will help you save the entire budget by avoiding the launch of an unclaimed web resource.
<h2 dir="ltr">Conclusion</h2>
Agilie has been operating since 2010, so our portfolio includes numerous projects on different topics. Most likely, we worked on a product similar to yours.
The technology environment is changing rapidly. So the process of digital transformation requires specific expertise and some practices to align business focus with technology solutions. We have all the necessary resources and high-qualified specialists. They will clarify important things during the Discovery phase of website development to decide if your idea is worth being implemented. We&rsquo;ll advise you on cost-effective technologies to help you launch a website as soon as possible and, as a result, outrun the competitors.
Just fill out the following contact form if you are ready to cooperate.
&nbsp;

The solution architect is a key specialist in the Discovery phase. Open the link to find out more about his responsibilities and tasks.

The Discovery phase in web development is research conducted by different specialists who are engaged in marketing and programming 

Solution Architect and His Role in the Discovery Project

The real estate industry is very personalized: what one person requires is not desired by the other. It implies the need to store a huge amount of data concerning each client: his/her wishes, preferences, problems, intents, and suchlike. It&rsquo;s obvious that a notebook or notes on your smartphone are not a good option. The information should be stored in the cloud and be accessible to each of your colleagues to maintain a continuous workflow. So, let&rsquo;s consider CRM software for a real estate agency as one of the mandatory things for successful work.
<h2 dir="ltr">What is Real Estate CRM?</h2>
CRM (Customer Relationship Management) is an internal system, which allows keeping client records and their requests. Real estate CRM solutions usually include the following information:
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
Name and contacts;
</li>
<li dir="ltr" aria-level="1">
Requirements for new apartments (obligatory and desirable things);
</li>
<li dir="ltr" aria-level="1">
Customer pains (an experience they are trying to avoid this time);
</li>
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Relevant options of apartments to offer the client;
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Transaction deadlines, etc.
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</ul>
There are no constraints on the stored data: you may have a totally personalized solution that would feature a user-friendly and simple interface for easy data entry. We&rsquo;ll do our best to offer such a system despite a possibly huge amount of information it'll have to deal with.
<h2 dir="ltr">Benefits of Real Estate CRM</h2>
91% of companies with 10 and more employees are using CRM solutions for real estate. There are several reasons why such systems have become so popular.
<h3 dir="ltr">#1 Centralized Client Data Storage</h3>
CRM technologies are designed to organize the information received from completely different resources. Having the data in one place simplifies the provision of services and prevents data duplicates. In addition, it allows companies to fine-tune their strategies and improve customer retention.
<h3 dir="ltr">#2 Cross-platform Instant Access</h3>
In order to get rid of the risks regarding data loss, one should choose to use the cloud, which is a preferable option. Modern technologies guarantee the preservation of records and round-the-clock access to them from any gadgets. You can start entering information on a PC and then continue on your smartphone. Today is the era of on-the-go agents who need to be everywhere at the same time.
<h3 dir="ltr">#3 Analysis Tools</h3>
Quite a pertinent question: what to do with the collected information? Managing it manually is impossible and irrational. So, real estate CRM solutions include diverse tools based on Artificial Intelligence. They allow conducting complex analyses to forecast future sales using historical data. Moreover, such systems are able to learn customer trading habits and then advise you on how to maximize the revenue within the sales targets.
Thanks to various visual graphics and tables, you can track customers&rsquo; behavior and predict their wishes.
<h3 dir="ltr">#4 Customized Lead Quality Criteria</h3>
The real estate industry is sometimes about serving multiple clients simultaneously. It makes agents categorize clients by different groups to effectively spend working time. Filtering relevant and irrelevant leads allows employees to prioritize certain groups of customers.
<h3 dir="ltr">#5 Zero Lead Leakage</h3>
How often do one or a few leads slip out unnoticed? Don&rsquo;t try to keep all things in your head: to avoid confusing situations, CRM solutions for real estate were invented. A smart system will inform you if a client has not received feedback yet. Thus, the reputation of your company won&rsquo;t suffer.
Implementing a CRM should be a part of your strategy. It helps realtors build, manage, and sustain meaningful and successful relationships with customers.
The statistics mentioned below make the importance of a CRM obvious.
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29% of sales increase after launching a modern system.
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34% of sales productivity grow.
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42% of predicament accuracy increase.
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The conversion of leads to clients rises up to 300%.
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<h2 dir="ltr">Key Features of Real Estate CRM</h2>
The solution provides users with a rich set of diverse features. The most common of them are:
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Dashboard. Get a brief overview of the main indicators concerning sales stages, marketing reports, current leads, and so on;
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Daily planner. The work of estate agents is not limited in time: it may be needed to show some apartments early in the morning on the weekend or late Friday night. So, a convenient multifunctional planner will help them keep all tasks in mind;
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Property catalog. Having all items in one place accelerates the provision of services. Users can easily choose an appropriate option by filtering the content.
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Notifications. Don&rsquo;t miss important meetings and events. Reminders are one of the crucial real estate CRM features that helps to be always on time.
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Cloud-based storage. There are two types of CRM solutions: desktop (a stand-alone program, which should be installed on a PC) and a cloud-based option (a website based on a remote server). Both types can send your files to the cloud to ensure they're safely preserved, so it doesn't matter what you choose. Easily manage your documents and don&rsquo;t worry about a possible disaster (hard drive failure as an example);
</li>
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Omnichannel communication. Customers communicate via different platforms: messengers, social networks, emails, etc. Using numerous diverse channels may blow up your mind, so a CRM is very useful for keeping in touch with clients;
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Integration with third-party services. It&rsquo;s one of the must-be real estate CRM features, which is obligatory if your company practices multichannel sales. Some agencies provide several services: independent home&rsquo;s value assessment services, assistance in home buying-selling deals, and consulting. In such cases, we are speaking of different eco-systems and work scenarios. Provide your employees with the opportunity to create diverse sales models;
</li>
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Document flow automation. Paperless interaction is mainstream today. CRM software for a real estate agency allows users to put the document flows on autopilot. It reduces the time needed to create, approve, and share docs.
</li>
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Mobile version. It may be a mobile application or a mobile version of the website. Nowadays, mobile traffic reaches 70% of the total volume.
</li>
</ul>
<h2 dir="ltr">Conclusion</h2>
To stay competitive, we recommend not delaying the implementation of a CRM solution. The system is incredibly useful in analyzing piles of data and then managing it. With a CRM, you&rsquo;ll not miss an important event or forget to give feedback to a client. In addition, different employees can access the deal details anytime if necessary.
In view of the fact that universal CRM systems are often unable to satisfy the requirements of ever-changing businesses, Agilie offers to develop a completely customized solution, which would meet all your individual needs.
50% of CRM users reported being more productive after the implementation of modern technologies. So, don&rsquo;t pass up the chance to outrun your competitors. Fill in a few boxes in the contact form using the following link: <a href="https://agilie.com/contacts">agilie.com/contacts</a>. It will be the first step to boosting the development of your business.
&nbsp;

Are you thinking about launching a real estate CRM system? Open the link to find out its main features and benefits for business.

The real estate industry is very customer-oriented 

Must-have Features of Real Estate CRM

There are numerous entrepreneurs who have encountered some difficulties while running their startups or scaling current businesses. And the main reason lies in poor planning or misunderstanding of the market trends (during the implementation, your idea may become hopelessly outdated). In order to prevent any predicaments, it is desirable to conduct a discovery phase with business analysis.
<h2 dir="ltr">What is a Discovery Phase?</h2>
When you come up with some business idea, the first things you usually wish to know are:
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What is your target audience?
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Where is your place in the market?
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Who are your competitors?
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What budget do you need?
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</ul>
So, <a href="https://agilie.com/blog/project-discovery-phase">the Discovery Phase</a> is the product launch stage that will help you get answers to the questions listed above. However, the discovery phase is not just marketing research as you might think. This stage is actually more technical because solution architects, senior developers, UX/UI designers, business analysts, subject matter experts, and other specialists are involved in the research process. Therefore, in the end, you&rsquo;ll receive a comprehensive presentation with the following additional information:
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User needs in the conjunction with your business goals (what customer needs you&rsquo;ll be able to cover);
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The functionality of the future solutions taking into account your budget, market trends, and services of your competitors;
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Recommendations about tools you had better use to save money and present a well-working solution, which will be able to outrun other market players;
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Roadmap with detailed user experience;
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Business objective model if you are not aware of what you should focus on in order to succeed.
</li>
</ul>
Moreover, the stage may even include the creation of MVP (minimum viable product). But let&rsquo;s focus on the business analysis of the discovery phase.
<h2 dir="ltr">What About Analysis?</h2>
Every discovery phase involves a business analyst because all gathered data must be structured and presented in a meaningful way. Only a specialist with extensive experience and understanding of the development process and different approaches is able to correctly analyze and interpret the information. Perhaps, the market you are interested in is in a state of stagnation. You may think the glass is half full but actually, it is half empty. So, the task of our business analysts is to warn you about all possible challenges and estimate the viability of your product.
After getting our findings, you&rsquo;ll be able to shorten the time to market and choose a certain path to fast growth. Business analysis within the discovery phase is the only way to develop a product in accordance with your initial ideas (an analysis eliminates situations when the results don&rsquo;t meet your expectations).
<h2 dir="ltr">What Can Be Analyzed During the Project Discovery Phase?</h2>
First of all, you should understand that the discovery phase is a very personalized stage of the development process. There is no a silver bullet: every project is unique. What one client requires, another does not need. This is why our business analysts approach the discovery phase with maximum responsibility, giving themselves completely to your project.
We are able to list just some areas, which are always analyzed at the beginning of the product implementation:
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Client&rsquo;s pain. One of the main marketing rules declares that every product should solve some customer&rsquo;s problems. The more these problems are tackled, the more beneficial the product can be. The analysis conducted by us will show you the possible demand for your solution;
</li>
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Competitors. Sometimes the market is oversaturated: there are a lot of players with great services, so a new product won&rsquo;t be able to satisfy the needs of a &ldquo;spoiled&rdquo; audience. Also, we can&rsquo;t fail to mention the price dumping resorted to by strong companies: you may not have even a chance to compete with them;
</li>
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Market trends. Are you sure your idea is relevant and fresh? Maybe, you are going to use outdated tools and technologies. Our business analysts within the discovery phase assess the products potential and warn entrepreneurs if necessary;
</li>
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Technologies. Thanks to our senior developers involved, you&rsquo;ll get an extensive list of tools, which will be used. We&rsquo;ll help you save money by advising cost-effective solutions.
</li>
</ul>
<h2 dir="ltr">Conclusion</h2>
According to statistics, about 15% of all startups die because of insufficient planning and underrating different risks in the market. 45% of ideas are too expensive to implement. It is impossible to have a complete vision about creating and then promoting your product without the discovery phase. Perhaps, the longread &ldquo;<a href="https://agilie.com/blog/discovery-stage-or-what-to-do-if-you-need-an-agile-project-analysis">Discovery Stage, or What to Do If You Need an Agile Project Analysis</a>&rdquo; will answer some of your questions.
&nbsp;

Find out what valuable information business analysts will offer you at the end of the discovery phase. Just open the link.

Conducting the discovery phase requires the involvement of a business analyst to assess the information received and give valuable advice on launching and promoting your product 

The Role of Business Analysis During the Project Discovery Phase

What is the Discovery Stage and how does it differ from a full-fledged analysis? We answer these questions in our article.

To prevent your IT project from failing, you should start its implementation with the Discovery Stage 

Discovery Stage, or What to Do If You Need an Agile Project Analysis

Establishing a neobank is a novelty and a customer-focused approach in the digital banking industry. This is a world full of possibilities, where paying attention to details and constantly adapting is crucial. However, it has its challenges and complexities.
Consider a neobank launch guided by competence, inventiveness, and a dedication to safety. Agilie&rsquo;s team understands security as a core component of the enduring principles for the reliability and integrity of our client&rsquo;s platform. Plunge into Agilie&rsquo;s development process to build a secure, transparent, and trustworthy neobank.
<div id="form-description" class="form-description" style="text-align: justify;" data-title="Key Takeaways">
<div class="form-description-title">Key Takeaways</div>
<div>
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The neobanking development process includes a detailed discovery phase, the development phase from the stage of an MVP to a full-fledged platform, rigorous testing and deployment process for a seamless launch of the product.
</li>
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Understanding the full development process allows clients to make informed choices and realize the complexities involved, spotting opportunities for growth and contributing to a successful market launch and operation.
</li>
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Agilie&rsquo;s priority areas are scalability, innovation, security, and user-centric approach.
</li>
</ul>
</div>
</div>
<img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713273688068.png" />
Resource:&nbsp;<a href="https://www.statista.com/outlook/dmo/fintech/neobanking/worldwide" target="_blank" rel="noopener">https://www.statista.com/outlook/dmo/fintech/neobanking/worldwide</a>
Agilie&rsquo;s neobanking development process ensures a comprehensive, secure, and efficient rollout of digital banking solutions. Our methodical approach helps in launching a neobank that meets current market demands and adapts to future changes and innovations in the financial sector. Let's discover Agilie&rsquo;s neobank development process.&nbsp;
<h2 dir="ltr" style="text-align: justify;">Step 1: Discovery Phase</h2>
<h3 dir="ltr" style="text-align: justify;">Idea Validation</h3>
All great neobanks are the products of unique and far-fetched ideas. Knowing the validation at the very beginning is quite important. Our team conducts the necessary analysis, which ensures that the idea of the neobank revolves around the gap in the financial market and the competition stays within the new entity. Through focus groups, market research, competitor analysis, and industry insights, we carefully assess the core values of the idea, uncover any existing challenges, and determine what differentiates the product from other similar products. The first validation stage of development determines the scope of work and all processes needed.&nbsp;
<h3 dir="ltr" style="text-align: justify;">Requirements Gathering</h3>
This step is crucial for understanding the specific needs of the target users and the regulatory landscape the future neobank will navigate. Our team draws from a wealth of experience in FinTech and collaborates closely with stakeholders to identify both functional and non-functional requirements. This cooperation ensures that the final product is user-centric and compliant with global and local financial regulations, embodying a balance between innovation and adherence to standards.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713266850571.png" />
<h3 dir="ltr" style="text-align: justify;">Wireframe Design</h3>
Once our experts have a vivid picture of the project, they draw a wireframe to show the user flow and app layout. The wireframing at Agilie is beyond the drawing of the screens; it is about preparing an intuitive space for the users' journey. The blueprints for the neobank carefully place everything to ensure better user interaction and satisfaction. The visual prototype lets us iterate and improve the concept without writing any code. This method is time-saving and cost-effective in terms of the development process.
<h3 dir="ltr" style="text-align: justify;">Architecture Concept Building</h3>
The architecture building phase is a crucial element of developing a neobank when Agilie&rsquo;s developers craft an architecture that facilitates scalability and reliable and secure services. This includes:
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cloud environment,&nbsp;
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API-first designs,&nbsp;
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data security and compliance layer,&nbsp;
</li>
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data management, and analysis,&nbsp;
</li>
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scalability, and fault tolerance.
</li>
</ul>
<h3 dir="ltr">Estimation</h3>
Our estimation process is thorough and transparent, considering all variables to provide a realistic projection of the neobank development process. This step sets the stage for a smooth execution, aligning expectations and resources for the development ahead.
During the discovery phase, we validate ideas, gather requirements, design wireframes, build scalable architecture, and provide accurate estimations to ensure the project sets up for success and marks the beginning of a transformative journey in the digital banking sector.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713266939666.png" />
<h2 dir="ltr" style="text-align: justify;">Step 2: Development Phase</h2>
<h3 dir="ltr" style="text-align: justify;">MVP Building or Proof of Concept (PoC)</h3>
The transition from conceptualization to tangible realization begins with the MVP (Minimum Viable Product) or PoC (Proof of Concept) phase. This step is optional but very important as it brings the neobank idea to life in a scaled-down form initially. The purpose of developing an MVP or PoC is multifold:
<ul style="text-align: justify;">
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to validate the core banking functionalities,
</li>
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to gauge user engagement and feedback,
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to test the value proposition.
</li>
</ul>
This phase allows us to implement and test key functionalities, such as user registration, account management, basic transaction processing, and compliance checks, ensuring these components operate seamlessly and securely.
Agilie is your reliable development partner, who sets the foundation for a scalable, robust neobank platform tailored to meet and exceed the expectations of today&rsquo;s digital-first customers.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713266961603.png" />
<h3 dir="ltr" style="text-align: justify;">Full-featured Platform</h3>
Our development process for building a full-featured platform is comprehensive, encompassing the integration of sophisticated financial tools and services such as
<ul style="text-align: justify;">
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multi-currency accounts,
</li>
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real-time transaction processing,
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personalized financial insights,
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advanced security measures,
</li>
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regulatory compliance management.
</li>
</ul>
We emphasize the need for an intuitive user interface (UI) and smooth user experience (UX) to make the platform robust, accessible, and interesting for the users.
Our dev team employs the latest FinTech innovations, such as:
<ul style="text-align: justify;">
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Implementing blockchain to achieve better security and a more transparent process.
</li>
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AI in the framework of personalized banking services.
</li>
</ul>
We adopt agile development methodology because we can iterate and deploy new features rapidly responding to market changes and customer needs.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713267007315.png" width="100%" height="100%" />Find out more about our FinTech software development services.</a>
<h2 dir="ltr">Step 3: Delivery Phase</h2>
<h3 dir="ltr" style="text-align: justify;">Testing</h3>
The Delivery Phase includes the thorough testing process to ensure reliability, security, and performance with Agilie's rigorous approach, which prepares the platform for secure market entry.
Our testing strategy incorporates:
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Functional Testing: It ensures that every feature runs according to the specs and the unit requirements at the exploration stage, which guarantees a smooth flow of every banking operation.
</li>
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Security Testing: This involves vulnerability scan, penetration testing, and compliance checks, which meet global standards like PCI DSS, GDPR, and local standards, making the customers' data protected and platform secured.
</li>
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Performance Testing: We test its performance in peak loads and maintain its reliability under various conditions.
</li>
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Usability Testing: This enables us to practice UI/UX to produce an interface that is simple, exciting, and adaptable to varying devices and platforms.
</li>
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Compatibility Testing: The platform of the neobank is subjected to interoperability tests to guarantee the smooth functioning of the platform on different browsers, operating systems, and devices to ensure a consistent experience for the customer.
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713267036870.png" />Deploying</h3>
We carry out the launch of the neobank platform with care and planning to make a seamless transition to live operations. Our deployment strategy encompasses: 
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Staged Rollouts: We analyze risks by publishing a controlled group of people at first and after successful trials, it launches and monitors performance in the real world to make any adjustments.
</li>
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Monitoring and Support: We are responsible for our services, and we care about our clients. Here we act as ongoing monitors and supporters beyond the launch, providing the best platform operational practices and resolving issues promptly, having a round-the-clock support team for high availability and reliability.
</li>
<li dir="ltr" aria-level="1">
Feedback Loop Integration: This helps in identifying areas of improvement to ensure the platform grows accordingly to meet user expectations and meet competitive market demands.
</li>
</ul>
Agilie&rsquo;s Delivery Phase provides correct preparation for a neobank to succeed and compete with digital banks in the market by ensuring stable operations, security of the system, and user-oriented performance.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713267081371.png" width="100%" height="100%" />Discover our cases, Agilie's approach, challenges, and solutions of success stories.</a>
<h2 style="text-align: justify;">Cost Considerations</h2>
Building a neobank&rsquo;s precise cost depends on the size of the project, the features added, the sector it serves, and the regulatory framework in which the bank starts operations. Here are some general cost ranges for different components of the development process:
1. Technology Infrastructure Development and App Development
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Basic Version: The costs of a simple neobank app with basic features may be in the range of $100,000&ndash;$500,000.
</li>
<li dir="ltr" aria-level="1">
Advanced Version: A more sophisticated app with a broad range of features, such as integrations with various payment systems and significant security measures, can take between $500,000 and $2M or even higher.
</li>
</ul>
2. Licensing and Compliance
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Minor Markets: Licensing and compliance costs in smaller or less regulated markets range between $50,000 and $200,000.
</li>
<li dir="ltr" aria-level="1">
Major Markets: In a highly regulated market like the U.S. or the EU, such costs can soar above several millions because of the complexity of the regulatory framework.
</li>
</ul>
3. Security Measures
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Set up of security and ongoing monitoring and evaluation will consume $100,000 to $500,000 for the initial cost, while the disbursement would depend on the level of security and monitoring desired.
</li>
</ul>
4. Marketing and Customer Acquisition
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
The first round of marketing campaigns can cost about $200,000 to over $1M, depending on the range and types of channels utilized. This is the core to gain visibility and catch users.
</li>
</ul>
5. Operational and Administrative Costs
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
These amount from $100,000 yearly for minor operations but can reach $1M for bigger teams and offices, especially as the neobank grows in size.
</li>
</ul>
6. Customer Support Infrastructure
<ul>
<li dir="ltr" aria-level="1">
Establishing customer support can range from $50,000 to $300,000, depending on the complexity of the system and the expected number of customer interactions.&nbsp;
</li>
</ul>
<h2><a class="incut--wrap" href="https://agilie.com/company" target="_blank" rel="noopener" aria-label="incut"> <img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713857866401.png" width="100%" height="100%" /> Meet our team of experts who will help you implement your projects with the most advanced approaches. </a> Summary&nbsp;</h2>

Agilie offers a holistic and transparent neobank development process, which considers innovations, security, and user experience. The process comprises the first Discovery Phase, then the Development Phase, and eventually the Delivery Phase. Our FinTech development skills and adherence to security, scalability, and user satisfaction make us a reliable FinTech partner for neobanks. Our approach is to create a product through the partnership that stands for innovation, growth, and success. With Agilie, clients can develop a reliable, scalable, and winning neobank that matches the market requirements and sets new standards for banking in the digital space.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713267113886.png" width="100%" height="100%" />Contact us to make your neobank&rsquo;s idea a reality.</a>

Explore the comprehensive guide to neobank development, and uncover expert insights and strategic solutions for launching a successful digital bank with Agilie.

Explore the comprehensive guide to neobank development, and uncover expert insights and strategic solutions for launching a successful digital bank with Agilie.

Steps in Our Neobank Development Process 

Welcome to the next stage of banking! Neobanks, online financial institutions, offer faster services and better user experiences. Did you realize that the global neobanking market will rise by a compound annual rate of 54.8% from 2023 to 2030? Rapid development is evidence of a new tendency toward digital-only financial solutions. Staying informed about security and technological advancement is crucial for protection, innovation, and opportunity. This article is designed to come up with the top edge trends that will shape the neobanking this year. Let&rsquo;s dive into the world of banking innovation that makes financial services more inclusive, safe, and attuned to the digital-savvy generation.
<div id="form-description" class="form-description" data-title="Key Takeaways " data-text="The neobanking business attracts more customers and enters new markets with a prediction to get 386.30 million users by 2028.

Attention to the latest trends helps offer modern, effective, and secure banking solutions.

Neobanks integrates biometric security technology, AI-based assistance, personalization, and cryptocurrency for secure, user-friendly, and individualized services. ">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
The neobanking business attracts more customers and enters new markets with a prediction to get 386.30 million users by 2028.
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
Attention to the latest trends helps offer modern, effective, and secure banking solutions.
</li>
<li dir="ltr" aria-level="1">
Neobanks integrates biometric security technology, AI-based assistance, personalization, and cryptocurrency for secure, user-friendly, and individualized services.&nbsp;
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Neobanking trends</h2>
Neobanking transforms regular banking through the combination of advanced tech to ensure security, efficiency, and availability to customers. Let&rsquo;s study the latest neobank trends to compete and successfully establish in the market.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786619753.png" />
<h3 dir="ltr" style="text-align: justify;">Open Banking</h3>
Open banking is a new trend in neobanking based on APIs that bring more capacity for banks to share their data and functionality with other third-party developers. Its purpose is to make the banking system more transparent for the customers and to foster a competitive environment. Benefits include personal financial services, faster loan approvals, and better financial management instruments. Open banking encourages the emergence of healthier competition and collaboration among traditional banks and fintech startups with innovative solutions. Open banking is all about improving customers&rsquo; experience and financial management.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786641468.png" />
<h3 dir="ltr" style="text-align: justify;">Banking-as-a-Service (BaaS)</h3>
BaaS is a model where digital banks and fintech use the licensed infrastructure of traditional banks to provide their services. This model provides non-bank financial providers with an opportunity to build banking services into their products without the same regulatory and financial requirements. BaaS platforms function as intermediaries by offering real-time banking services like payment processing, credit facilities, and account management through APIs. This changing face of financial services prompts an overall reevaluation of how companies view financial services with creativity, to ensure an excellent customer experience and to yield additional revenue channels for companies outside the usual area of financial services.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786680811.png" />
<h3 dir="ltr" style="text-align: justify;">AI-powered Assistance</h3>
Artificial intelligence developments in neobank take into account machine learning algorithms to digest customer data, determine their needs, and forecast requests. These models propose automatic payments or reminders to prevent missed or late fees through monitoring purchase details, browsing behaviors, and inquiries.&nbsp;
For example:&nbsp;&nbsp;If the users upload the bills close to the end of the month, the assistant AI will remind them of the upcoming payments or even suggest automatic payments in the future to avoid late fees.
Natural language processing (NLP) technology has significantly improved, so virtual assistants can now process human language with a degree of complexity that matches and even exceeds that of humans. Bank users can talk to their neobank in a dialogue, with banking getting more altered and less scary. The cutting-edge NLP algorithms can grasp the context, tone, and purpose of a query, which allows them to handle more complex questions and provide naturally relevant responses.
Virtual assistants can now manage complex conversations and act on virtually many transactions, from single account inquiries to more complicated financial advice-giving and support of decision-making. This transformation reduces the tasks of human staff and gains clients for round-the-clock support. Neobanks will use AI-powered assistants to automate routine operations, which will ultimately free up human resources to focus on more strategic initiatives and thus, lowering operational costs.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/ml-ai-and-fintech-how-maching-learning-and-artificial-intelligence-help-you-benefit" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786779007.png" width="100%" height="100%" />Learn more about AI and ML solutions in fintech.&nbsp;</a>
<h3 dir="ltr" style="text-align: justify;">Hyper-personalization</h3>
AI is the most valuable in the process of hyper-personalization because it enables the analysis of big data and the creation of insights and predictive models. Based on these models, companies can predict future consumer behavior and perform timely actions. As an illustration, if a customer&rsquo;s spending pattern suggests upcoming obvious cash flow issues, the neobank&rsquo;s AI system can prioritize and offer a customized plan of overdraft protection or short-term credit while customers are prepared to cover the bills without any financial strain.
Neobanks have a real-time personalization advantage, mainly because of their AI capability to process data in a split second. When the user interacts with the neobank&rsquo;s app or website, the AI assesses this behavior and displays the interface and the services accordingly.&nbsp;
For example:&nbsp;If the user checks the exchange rates frequently, the AI could display updated news on currency, inform about rate changes, and suggest an upgrade to a multi-currency bank account service.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories/chameleon-pay" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786904675.png" width="100%" height="100%" />Learn more about Agilie&rsquo;s development process of a multi-digital wallet app.</a>
Neobanks apply data analytics to figure out users&rsquo; financial behavior and lifestyle preferences, which leads to segmenting the customer base into specific groups and profiles and then rolling out products to meet individual needs.
Neobanks offer real and tailored solutions that assist in the development of customer credibility and solidity. They foster adhesion and retention via the process of offering personalized financial information, specialized product selection, and proactive customer support. Artificial intelligence can identify new business clients and improve personalization to boost the relationship.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786928262.png" />
<h3 dir="ltr" style="text-align: justify;">Crypto Integration</h3>
Neobanking platforms incorporate cryptocurrency services into their offerings, using blockchain technology for trading, investment, and crypto storage for tech-savvy clients and by meeting the growing demand for easy-to-understand and secure cryptocurrency services.
Cryptocurrency Trading:&nbsp;Neobanks incorporate cryptocurrency buying, selling, and exchanging infrastructure within the app interfaces, allowing users to trade cryptos like traditional currencies. Sophisticated functionality includes smart bots, real-time data analysis, and alerts.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/steps-in-our-neobank-development-process" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713787033192.png" width="100%" height="100%" />Discover how to develop a successful neobank in 2024.&nbsp;</a>
Cryptocurrency Investment:&nbsp;Neobanks provide structured cryptocurrency investment products such as savings accounts and sophisticated financial products like crypto index funds and staking pools to create easy access to the welcoming environment for newbie investors.
Secure Storage Solutions:&nbsp;Neobanks goes a step further with secure storage solutions for digital assets, including insured wallets with multiple authentication options like biometric access controls, multi-signature, and decentralized backup systems assuring a secure and safe environment for customers.
Neobanks enhance customer knowledge and offer resources on investment risks, cryptocurrency, market dynamics, and security practices. This approach helps users interact and build trust around the service.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713787089626.png" width="100%" height="100%" />Learn more about Agilie&rsquo;s fintech software development services.&nbsp;</a>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
Neobanking is reshaping the banking landscape through continuous innovation and customer-centric change through the use of sophisticated biometric security, AI assistants, hyper-personalization, and cryptocurrency services. Such trends are changing banking into a secure, customer-focused, and technologically merged service. Neobanks respond to the changing times and form technology-driven solutions to overcome competition and support growth in the digital era. The continued success of neobanks lies in their capability to incorporate new technologies with a consumer-oriented approach.
Agilie is a reliable partner in neobanking and fintech innovation, with solutions designed individually to match demands and exceed them.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;has the competencies in regulatory compliance to guarantee that businesses engage with the complexities swiftly. Agilie provides continuous support and tactical insights, so clients can adjust and succeed in the financial sector.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713787138819.png" width="100%" height="100%" />Contact us and make your idea a skyrocketing reality. </a>

Stay ahead in the fast-growing fintech industry and explore the neobanking trends in 2024 with Agilie.

Stay ahead in the fast-growing fintech industry and explore the neobanking trends in 2024 with Agilie.

Neobanking Trends 2024

Digital banking is a powerful tool that serves to reshape and redefine traditional banking and competition. Banks should know the problems and hazards associated with this transformation to survive. Cybersecurity is the basis of digital banking trust and is the most needed tool to fight against cyber threats and develop the best fraud prevention strategies. The industry is simultaneously tackling unimaginable opportunities and impenetrable barriers, with success depending on innovation, consumer-oriented strategies, and information security. Agilie's team prepared the list of cyber threats for digital banks, prevention plans, as well as challenges to stay aware and run a successful digital bank.
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Digital banking has many challenges, such as cybersecurity, technical advancements, compliance, interoperability, and intense competitiveness.

Digital banks have to fight against phishing, malware, ransomware, data breaches, API security vulnerabilities, and the poor security of third-party services to keep their clients&rsquo; private information intact and to protect their reputations.

Digital banks have to innovate in terms of user experience and efficiencies in the operational tasks to get through the complex regulatory landscape and in synchronization of data and real-time processing without interrupting the standard operations.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Digital banking has many challenges, such as cybersecurity, technical advancements, compliance, interoperability, and intense competitiveness.
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
Digital banks have to fight against phishing, malware, ransomware, data breaches, API security vulnerabilities, and the poor security of third-party services to keep their clients&rsquo; private information intact and to protect their reputations.
</li>
<li dir="ltr" aria-level="1">
Digital banks have to innovate in terms of user experience and efficiencies in the operational tasks to get through the complex regulatory landscape and in synchronization of data and real-time processing without interrupting the standard operations.
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Cybersecurity and Fraud Risks and Prevention in Digital Banking</h2>
Safe digital banking is critically dependent on cybersecurity and fraud prevention. Let&rsquo;s look into cyber threats and find out how to prevent them.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948222726.png" />
<h3 dir="ltr" style="text-align: justify;">1. Phishing Attacks and Spoofing</h3>
Cybercriminals apply phishing as a form of the widely used trick aimed at social engineering to get personal and financial information. Fraudsters pretend to be the regular communication channels of financial organizations, directing unsuspecting customers to the websites where they enter their sensitive data. Digital banks make this threat impossible with the help of advanced email spam filtering, multi-factor authentication, and the continuous promotion of phishing awareness and readiness among consumers.
Spoofing, which is disguising, for example, as a bank and misleading users or systems, is another form of enormous threat. Spoofing can be a part of a phishing attack. It might simulate email addresses, phone numbers, or websites. Banks counter forgeries by implementing strong authentication tools such as SPF (Sender Policy Framework) and DKIM (DomainKeys Identified Mail), which are security protocols that ensure the legitimate use of communication channels.
<h3 dir="ltr" style="text-align: justify;">2. Malware and Ransomware</h3>
These categories of threats incorporate hackers putting dangerous software to pierce banking systems, encrypt crucial data, and demand ransom. Digital banks counter the risks of malware using comprehensive tools, frequent software updates, and robust data backup processes, which involve restoring information without giving in to ransom demands.
<h3 dir="ltr" style="text-align: justify;">3. Data Breaches and Insider Threats</h3>
Data breach is one of the most common cyber issues in the digital banking sector. Banks use sophisticated encryption tools, data anonymization techniques, and secure storage to reduce the risk of data breaches. Regular data security assessment and compliance with international data protection regulations are keys to data protection and customer confidence.
Insider threats, including the ones arising from negligence or deliberate attempts to obtain data, can cause disastrous data breaches. Banks attain this purpose by the use of sophisticated and filtered access controls, intensified employee checks, and rigorous monitoring of unusual activities.
<h3 dir="ltr" style="text-align: justify;">4. API Security Vulnerabilities</h3>
APIs facilitate the performance and integration of virtual banking services, yet they are vulnerable to security breaches without proper safeguarding. Proper mechanisms against API weaknesses should involve regular information security inspections, deploying API gateways, and also enforcing strict authentication principles that grant only accredited entities access to APIs.
<h3 dir="ltr" style="text-align: justify;">5. Third-Party Services</h3>
Many digital banks outsource services to other companies operating, which may result in service disruptions or security threats. Banks can have a strong security system in contrast to third-party services. That's why thorough inspection of third parties, consistent monitoring of their actions, and making security protocols an integral component of all third-party collaboration agreements are crucial in limiting the possibility of security gaps that could creep in through external partnerships.
<h2 dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/steps-in-our-neobank-development-process" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948284316.png" width="100%" height="100%" />Find out how to develop a secure and successful neobank in 2024.</a></h2>
<h2 dir="ltr">Most Common Digital Banking Challenges</h2>
Financial institutions are going through a rapid digital transformation and the accomplishment of synchronized interaction with the existing banking systems is demanding, and involves complex technical and regulatory issues.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948333689.png" />
<h3 dir="ltr" style="text-align: justify;">1. Legacy Systems Compatibility</h3>
Traditional banks implement outdated systems through programming languages and designs which are often incompatible with current digital banking technologies. The challenge is about how we can bring about secure, resilient technologies together with a user-friendly and interactive interface.
<h3 dir="ltr" style="text-align: justify;">2. Data Synchronization and Real-Time Processing</h3>
Data synchronization and real-time processing among banks constitute another challenge. They are important for the customers as they give access to their financial information anywhere. A robust and scalable data processing system can have lots of transactions processing at the same time and synchronizing among its different parts. Technology like microservices architecture and event-driven data management can facilitate this by providing efficient messaging and simultaneous updates across platforms.
<h3 dir="ltr" style="text-align: justify;">3. Regulatory Compliance</h3>
Interoperability also poses the question of dealing with regulatory issues, which can differ from one jurisdiction to another. Digital banks must be sure that the integration satisfies all necessary regulatory requirements, for instance, data privacy laws, AML directives, and banking secrecy acts.
Compliance becomes especially complicated if the digital banks need to be integrated with systems from other countries. Banks are required to invest in advanced RegTech solutions which will enable them to comply with different regulatory environments and embed secure cross-border data flows in all local compliance requirements.
<h3 dir="ltr" style="text-align: justify;">4. Security Protocols</h3>
The integration of different banking systems cannot lead to the weakening of platform security. Every system has its security procedures, and their alignment will be a complicated task. Building an architecture for security requires incorporating the good practices of each system and other features that will cover the functional gaps caused during the integration. Authenticating by the OAuth procedure and end-to-end encryption should be the top priority of integrity and user convenience.
<h3 dir="ltr" style="text-align: justify;">5. User Experience Consistency</h3>
Banks encounter the challenges of ensuring a consistent user experience when they deploy both old and new systems. Improper integration of different systems often leads to disjointed customer intervention when they are combined. Utilization of user experience (UX) principles uniformly throughout all the platforms will help in providing customers with a consistently smooth experience regardless of where they interact with the brand.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/neobanking-trends-2024" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948383769.png" width="100%" height="100%" />Learn more about neobanking trends in 2024.</a>
<h2 dir="ltr">Competition in the Digital Banking Space</h2>
Competition in the digital banking industry is fierce, as more fintech companies enter the market and traditional banks investigate how to enrich their digital offerings. The increased competition can result in lower profits and a loss of market share for the traditional banks that fail to adapt fast and offer innovative and user-friendly digital banking services.&nbsp;
Since competing in the digital banking space is dynamic and multi-directional, new players may find it hard to enter successfully in the race. As tech innovation is a key determinant in the digital banking and fintech market competition, the participants in this sector tend to capitalize on advanced technologies like artificial intelligence, machine learning, and blockchain to improve services' quality and efficiency, with features like real-time payment and active fraud prevention systems becoming standard. Digital banks should offer strong security measures and be finance regulation compliant to consumers to remain customers confident.&nbsp;
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948439477.png" width="100%" height="100%" />Learn more about Agilie&rsquo;s cases and introduce our diverse innovative solutions.&nbsp;</a>
Digital banks make a huge push into the user experience (UX) and user interface (UI) design offerings to attract and retain users. It encompasses account opening convenience, transaction simplicity, and the ability to get financial advice through digital channels, allowing being in the market's leading class.&nbsp;
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948458579.png" />
Digital banks with their flexible approaches can enter new markets very quickly and skip traditional banks, having the advantage of updating to changing regulatory environments. They propose many different financial services and customize them for particular communities. The creation of strategic partnerships between fintech enterprises, software development companies, traditional banks, and non-financial entities is a key factor in multiplying gains. Digital banks provide a cost advantage by operating with fewer operational expenses due to the non-maintenance of physical branch offices and providing services at competitive prices.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948504284.png" width="100%" height="100%" />Discover our fintech software development services to create a skyrocketing neobank.&nbsp;</a>
<h2 dir="ltr">Conclusion</h2>
The digital banking setting is developing through technology, risks and challenges, requisite regulation, and a high level of market competition. The expansion and transformation of this industry bring to view an urgent need for strong digital solutions that consider security, improve the quality of the client experience, and assist in smooth and reliable integration with the existing tools. Embracing risks, challenges, and opportunities is a must-have element for any bank that wants to sustain success in the digital era.
Getting through this complex landscape requires the knowledge and mastery of financial technologies and their advancement, implementation, and use. Agilie, a fintech software development company, is an expert in cybersecurity, compliance, customer experience, and innovative technology integration. We can customize unique offerings to revolutionize digital banking, ensuring security, reliability, and efficiency. Partnering with Agilie will grant financial institutions a chance to surpass their competitors, turning their concerns into a springboard to growth and success.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948567418.png" width="100%" height="100%" />Take the first step towards transforming your digital banking services. Reach out to Agilie and let&rsquo;s discuss how we can help you succeed in the fintech space.</a>

Explore the challenges and risks in digital banking today, and learn how robust security and technological innovation drive success in the fintech industry.

Explore the challenges and risks in digital banking today, and learn how robust security and technological innovation drive success in the fintech industry.

Risks and Challenges Awaiting Digital Banking Projects Now

Neobanks represent an innovative avenue to build modern and efficient banking solutions. The major factor of the neobank&rsquo;s success is a strong digital infrastructure created by an expert development team. The team is proficient in coding and involves innovative solutions, strong security implementation, and user-oriented design. They have to ensure compliance with regulatory standards, guarantee data protection, and provide scalable solutions that meet the organization's growing needs. Agilie in this article has presented a detailed process for hiring a development team that is in line with the neobank&rsquo;s mission and vision.
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="To successfully launch and operate a neobank, it's crucial to hire a skilled development team that understands fintech and digital banking. 

The process of finding the right team needs a clear vision of your needs, the usage of appropriate recruitment platforms, and comprehensive support from an expert team that offers end-to-end services.

Prioritizing strong client relationships is a factor that helps to make informed decisions based on cultural fit.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
To successfully launch and operate a neobank, it's crucial to hire a skilled development team that understands fintech and digital banking.&nbsp;
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
The process of finding the right team needs a clear vision of your needs, the usage of appropriate recruitment platforms, and comprehensive support from an expert team that offers end-to-end services.
</li>
<li dir="ltr" aria-level="1">
Prioritizing strong client relationships is a factor that helps to make informed decisions based on cultural fit.
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Identifying Your Needs</h2>
Defining the major components of your neobank and the skills of your development team is important when starting your neobank business. This is an initial phase that builds the foundation of your project&rsquo;s possibility of success. This is a guide that will show you how to recognize members with crucial skills, experience, and expertise in this project for building a top-notch neobank creation team.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475062456.png" />
Key Roles in a Neobank Development Team&nbsp;
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Project Manager (PM):&nbsp;The PM controls the entire development process to ensure that the project arrives within time, budget, and specification. They provide a communication link between the developers and stakeholders.&nbsp;
</li>
<li dir="ltr" aria-level="1">
Business Analyst (BA):&nbsp;BA has the vital role of transforming complicated financial needs into business solutions. They collaborate with stakeholders to articulate business needs, restructuring processes, and achieve compliance in the neobanking industry.&nbsp;
</li>
<li dir="ltr" aria-level="1">
UI/UX Designer:&nbsp;Since user experience (UX) is one of the major factors in the success of neobanking, a designer knowledgeable in user interface design (UI) is essential. They not only deal with the style and atmosphere of your virtual bank but also keep an eye on using simple designs that enhance the level of user satisfaction and engagement.
</li>
<li dir="ltr" aria-level="1">
Software Developers:&nbsp;You will have to hire a mix of both front and backend developers who have experience with&nbsp;<a href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener">fintech software development</a>. Frontend developers work with what users directly see and interact with in the application or website. Backend Developers work on the server side, administering the database and application logic. They should know modern programming languages and frameworks. Every software developer should prioritize security. In a neobank&rsquo;s financial nature, security is an inevitable element.&nbsp;
</li>
<li dir="ltr" aria-level="1">
Quality Assurance (QA) Engineers:&nbsp;QA engineers are irreplaceable in the building of a perfect user interaction mechanism. They conduct the testing and debugging of the code, making sure that the software is trusted, performs well, and is free from bugs.&nbsp;
</li>
<li dir="ltr" aria-level="1">
DevOps Engineer:&nbsp;This function includes improving the processes of development and deployment using cloud technologies and tools, with a focus on security. This will therefore make sure that your banking platform can scale up and adapt fast to the ever-changing situations.
</li>
</ul>
Operating a neobank largely involves more than technical expertise. It can only be successful if the dev team deeply understands the financial regulations, data security, and customer-centric design. The team members should possess agile workflow skills and be able to quickly and seamlessly integrate changes in the code base, processes, and environment. But how to find candidates? We will share our recommendations in the next chapter.&nbsp;
<h2 dir="ltr" style="text-align: justify;">Finding Candidates</h2>
The next key step is to find the appropriate candidates. Whether you're after a single node or a full development team, using the right platforms can immensely ease the process. Here's how you can handle the recruitment landscape masterfully.
<h3 dir="ltr" style="text-align: justify;">Utilizing Professional and Job-Specific Platforms</h3>
LinkedIn:&nbsp;It is a critical network for professionals. Look through the LinkedIn profiles of the applicants to gain insights into their background, former project involvement, and professional acquaintances. It&rsquo;s also a good placement for posting job ads and getting to a wide audience of professionals looking for new jobs.
GitHub:&nbsp;Linked to technical jobs, especially for software developers, GitHub is of utmost importance. It offers the ability to review the previous work of candidates, analyze their coding style, and comprehend their contributions to different projects. This is a key factor in assessing a developer's technical expertise.
Industry-specific sites:&nbsp;Sites such as Clutch, Manifest, GoodFirms, and IT Firms concentrate on rating and reviewing technology service companies. They comprise customer reviews, ratings, and detailed profiles of companies that specialize in the development of software, including neobank solutions.
Clutch&nbsp;is a suitable resource for locating development firms as it focuses on B2B services only. To make a successful search, apply appropriate keywords and filters, as well as pay attention to the service focus and portfolio of every company. Pay attention to clients&rsquo; reviews, credibility, and in-depth case studies. Client reviews help to tell about project management, communication, and results. Look through in-depth case studies to see how the firm goes about projects and how they approach complexity. Make sure the team has the appropriate technical abilities and a reputation among clients for delivering excellent results to be successful.&nbsp;
Agilie stands apart as a highly-ranked company on platforms such as Clutch because client reviews document our customer-oriented approach, innovative solutions, and solid software development abilities. These awards are a testament to our unwavering resolve to provide reliable, scalable, and secure digital banking services.&nbsp;
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475178760.png" />
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714476206917.png" />
Client testimonials and expert reviews bring in information about a firm&rsquo;s dependability, quality, and performance. Choosing candidates from these sources guarantees an experienced development squad that can create a neobank.
Additionally, we would like to emphasize client relationships, and we will discuss this in the next chapter.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475303351.png" width="100%" height="100%" />Learn more about us by visiting our website.</a>
<h2 dir="ltr" style="text-align: justify;">Client Relationships&nbsp;</h2>
Launching a neobank is a process of several steps that require constant communication between you and the development team members. An exemplary team of professionals having in-depth abilities and being client-oriented will be the determining factor of the project.
A development team that prioritizes client relationships is essential for several reasons.
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Communication:&nbsp;Clarity, consistency, and transparency are the cornerstones that will ensure that there is a collective understanding and proper implementation of the vision. This methodology solves the problem of misunderstandings and saves the sustainable alignment of the project under the goals.
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Flexibility:&nbsp;Being up-to-date with the latest demands and alterations is highly critical in the constantly changing sector of fintech. A team that fully understands the industry environment, market, and customer requirements will have the highest capability to react to the market change and will help you to be the market leader.
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Support:&nbsp;The support from the start to the end, as well as after launching, is critical for problem-solving and scaling the solution when your business grows.
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</ul>
<h3 dir="ltr" style="text-align: justify;">Agilie&rsquo;s Approach to Client Relations</h3>
At Agilie, we consider our customer relations equally valuable as our technological competencies. We are delighted to describe our approach to client communications.&nbsp;
Personalized Service:&nbsp;Each customer is distinctive, and so does their peculiar requirements. We appoint a designated project manager to every project. This manager functions as a link between our customers and our development team, guaranteeing that every correspondence is relevant and responds to the necessities and preferences of our clients.&nbsp;
Proactive Engagement:&nbsp;We don&rsquo;t just react to problems; we prevent them. During all stages of development, our team makes regular check-ins and updates to keep you informed about the progress of the project and to gather your references on crucial decisions. Our team implements preventive practices to neutralize threats before they turn into problems.&nbsp;
Transparent Processes:&nbsp;Transparency is an integral part of our activities. We bring development progress and financial expenditures right on time. This transparency ensures trust and there are no hidden actions.&nbsp;
Long-term Partnership Focus:&nbsp;Agilie aims at long-term relationships. We offer ongoing support and development services to help you adjust to the future growth of your neobank.
According to our clients, they value Agilie's ability to listen, adapt, meet deadlines, and consistently deliver high-quality results.
&nbsp;&nbsp;&nbsp;<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475404994.png" width="100%" height="100%" />Learn more about our case studies and how we have created marvelous projects.</a>
<h2 dir="ltr">Making the Decision</h2>
Selecting the right development team for your neobank is a critical choice that will greatly affect the fate and path of your project. This choice should be based on both technical skills and cultural fit evaluation. We will take you through the evaluation process to make an informed hiring decision.
1. Assessing Technical Expertise:
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Review Portfolios and Case Studies
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Check References and Testimonials
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Evaluate Technical Presentations or Pitches
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Consider requesting a technical assessment
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2. Considering Cultural Fit
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Communication Style
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Project Management Approach
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Values and Vision
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3. Balancing Cost and Value
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Cost Efficiency vs. Investment Return (A higher upfront cost might be justified by superior quality and longer-term savings in maintenance and scalability)
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As you make your choice, keep in mind how Agilie interacts with the technical and cultural sides of the project. We value your opinion as it is our success indicator, as well as the success of your bank.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/steps-in-our-neobank-development-process" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475720919.png" width="100%" height="100%" />Find out our neobanking development process and its price in our article.</a>
<h2 dir="ltr">Conclusion</h2>
Hiring a neobank development team is a complicated step, and its thoroughness is critical. The main part of this process includes:
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identifying your needs,&nbsp;
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finding candidates,&nbsp;
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building relationships,&nbsp;
</li>
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making the ultimate choice.&nbsp;
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</ul>
Hiring process efficiency involves evaluating technical skills, cultural alignment, communication, and a potential for a long-term relationship. The technical expertise will guarantee that the project is done according to the highest standards, and cultural alignment will create a collaborative environment. Effective communication and excellent client relationships will result in the development of better solutions that satisfy all customer needs.
Through proper screening of prospective alliances, understating their strengths and weaknesses, and choosing a partner who relates to both your technical requirements and your company's culture, we can guarantee scalable, user-centric, and time-tested neobank.&nbsp;
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1714475762130.png" width="100%" height="100%" />Contact Agilie to realize your vision with the utmost dedication, expertise, and success.</a>

Get all the information on how to hire a development team to build a neobank from the experts at Agilie, and get closer to your success.

Get all the information on how to hire a development team to build a neobank from the experts at Agilie, and get closer to your success.

How To Hire A Development Team For Building A Neobank

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