<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-e78c8ee8-c9fe-8441-f4bd-9cf146a2a06c">Read our article that tells you all about the correct calculation of the</span> average cost of app design.</p>

How much does it cost to design an app? The question is really crucial - at least if you want your application to be profitable and successful. Of course, professional app design costs more, but it leads to better results 

How Much Does It Cost to Design an App?

<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-27957250-7516-c2d4-2720-018560125598">Everyone wants to cooperate with excellent UI/UX experts without overpaying. </span>Check out our tips on how to achieve this goal.​</p>

Looking for skilled UI/UX designers but have no desire to overpay them? Then you have to hire Ukrainian web designers ☝ They're experienced, creative, and willing to work hard. And, the last but not least, web designers in Ukraine have moderate rates! Click here ►►►and read more reasons to hire Ukrainian UX designers. 

How to Hire Ukrainian Web Design Professionals And Get Incredible Results

<p>How much does it cost to develop or redesign a website? In our article, we've tried to elaborate on this and related issues.&nbsp;</p>

How much does it cost to build a website? We bet this question is of great interest to you - if you have website development in mind, of course. If so, click here ➣ ➤  and read our article on website development costs ☝ and ways to reduce them ✅In this article, we explain how much does it cost to develop or redesign a website, how to make the site development a very good investment, how much you can save during this process, and when it would be silly of you to be greedy.

How much does it cost to build or redesign a website?

<p style="text-align: justify;">How to find a good web design company? In our article, we tried to provide a detailed answer. Read and follow the instructions!</p>

Wanna build a good and creative website? Then you need website design services ✅ If you don't have proper experts in mind, you'll have to find a website designer ☝ Our article explains how to choose a web design company of the best level!

How to find and choose a good web design company or hire a designer

<p>We encourage<strong> </strong>you to keep reading our newest blog post, in which we&rsquo;ve picked the X recent web design trends.</p>

Web Design Trends 2017: How to Be up to Date

<p>Mobile design goes beyond simply looking stylish and engaging users with bright colors and fun illustrations. User-oriented and innovative features play an equally important role. To make sure your app design stays relevant in terms of both style and user experience, it's important to stay up-to-date on current app design trends and use best practices.&nbsp;</p>
<p>Meanwhile, the introduction of conversational interfaces and personal assistants of different kinds doesn&rsquo;t mean we&rsquo;re ready to abandon more customary user interface patterns.</p>
<p>In this article, we&rsquo;ll try to analyze what&nbsp;<a href="https://agilie.com/expertise/technology/ui-ux-design">mobile app design</a>&nbsp;trends that buzzword the beginning of 2024 will - hopefully - live up to the end of the year and will actually mean something for product design and human-computer interaction in general.</p>
<p>Here&rsquo;s what we see as the most interesting mobile design trends for the year 2024.</p>
<p>More material design applications including:</p>
<ul>
<li>Experimenting with material trends such as card interfaces</li>
<li>Meaningful transitions</li>
</ul>
<p>Detours from material design principles like:</p>
<ul>
<li>Less flat-ish feel</li>
<li>More color diversity</li>
<li>Icons going back to thin outline</li>
</ul>
<p>Experimenting with UI patterns:</p>
<ul>
<li>Alternative UI patterns instead of hamburger-like menus</li>
<li>Exploration of various prototyping tools</li>
<li>Mobile-first orientation of web apps</li>
</ul>
<p>Adapting mobile design to new means of interactions such as:&nbsp;</p>
<ul>
<li>Сonversational interfaces</li>
<li>AR and VR</li>
</ul>
<p><span id="isPasted">Let's look at the main trends of mobile applications for iOS and Android in 2024 - forewarned means armed.</span></p>
<div id="form-description" class="form-description" data-title="Key takeaways" data-text="Even with the claims of some that the trends are only temporary, our experience suggests otherwise. There are certainly UI/UX trends that have moved into the permanent category, such as dark mode or the use of real photos, which are now considered common practice. It is important to realize that trends that become best practices remain relevant for a long time, so adopting them early makes you an innovator, or at least attracts the attention of users.

For instance, use AR to create functional user interfaces that allow customers to try out furniture, for example, before buying it. Or imagine that your mobile app allows users to try on clothes to see how they will look before buying - augmented reality can be the perfect tool to make the shopping process even more interactive.">
<div class="form-description-title">Key takeaways</div>
Even with the claims of some that the trends are only temporary, our experience suggests otherwise. There are certainly UI/UX trends that have moved into the permanent category, such as dark mode or the use of real photos, which are now considered common practice. It is important to realize that trends that become best practices remain relevant for a long time, so adopting them early makes you an innovator, or at least attracts the attention of users. <br /><br />For instance, use AR to create functional user interfaces that allow customers to try out furniture, for example, before buying it. Or imagine that your mobile app allows users to try on clothes to see how they will look before buying - augmented reality can be the perfect tool to make the shopping process even more interactive.</div>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">1. More material design and a step off from flat</h2>
<p>Google&rsquo;s material design had made it from a hot trend in 2015 to an app industry standard in 2016. As for now, however, the material design principles are not considered as some kind of dogmas by UI/UX designers. Material 3 marks the latest release of Google's open-source design system. You can utilize Material 3 to design and develop products that are visually appealing and user-friendly. In 2023 these principles work rather as road signs to show the general direction user flow and layouts should take to deliver the best user experience.</p>
<p>For example, card-based UI turned out to be an ideal way to deliver information and content in mobile apps. Card-based interfaces help organize large amounts of different content easily, just splitting it into accessible chunks. The different kinds of card layouts had been constantly in the highlight throughout 2020 and 2022, and don&rsquo;t seem to be going anywhere in 2024.</p>
<p style="text-align: center;"><img style="width: 796px; height: 595px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/257/content_cards_jpg.jpg" alt="cards layout" /></p>
<p style="text-align: center;"><em><a href="https://dribbble.com/shots/3209261-Pro-Timetracker-Debut-on-Dribbble" target="_blank" rel="nofollow noopener">Time tracker app</a> concept using the purely card-based interface.</em></p>
<p style="text-align: justify;">Another tendency is fusing more complex graphic elements and effects into simplistic flat-inspired material design. No, skeuomorphism isn&rsquo;t back (not yet, at least), but some of its distinctive elements, like shadows or translucent elements, are enjoying more attention from UI designers.</p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">2. Brutalism</h2>
<p id="isPasted">Brutalism is one of the latest trends in application design. This style is guaranteed to add expressiveness to your design. Brutalist UI design features include a black-and-white color palette, bold typography, and heavy use of photography inspired by the architectural style of the 1950s.</p>
<p>Brutal design can be less "clean" compared to other styles: fonts are often a bit hard to read, elements and typography can appear tightly spaced and are characterized by sharp edges. Therefore, not every project can use brutalism, and you should make sure that your audience understands and appreciates this refined approach. If your target audience is young people, and your project is focused on art and creativity, why not?</p>
<p style="text-align: center;"><img style="width: 800px; height: 600px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/258/content_flash_garage.gif" alt="flash garage" /></p>
<p style="text-align: center;"><a href="https://dribbble.com/shots/2896331-Flash-Garage-concept" target="_blank" rel="nofollow noopener"><em>Gadget</em></a><em><a href="https://dribbble.com/shots/2896331-Flash-Garage-concept" target="_blank" rel="nofollow noopener"> battery management app</a> concept uses black as a theme color which contrasts with functional UI elements.</em></p>
<p style="text-align: justify;">Meanwhile, more calm, minimalistic color palettes aren&rsquo;t going anywhere, either. Altogether, this means we&rsquo;ll see a much wider range of visual solutions this year.</p>
<p style="text-align: center;"><img style="width: 800px; height: 600px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/259/content_taxico.gif" alt="taxi app design concept" /></p>
<p style="text-align: center;"><em><a href="https://dribbble.com/shots/3219922-TAXICO-taxi-for-kids" target="_blank" rel="nofollow noopener"><em class="gr-progress">Taxico</em> app</a> concept features a calm color palette.</em></p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">3. Animation</h2>
<p id="isPasted" style="box-sizing: border-box; margin-top: 0px; margin-bottom: 1rem; caret-color: #414141; color: #414141; font-family: sans-serif; font-weight: 500; text-align: left; font-size: 1rem !important;">Animation remains a trend in program design, attracting the attention of users for its interest and effectiveness. From micro-interactions to full-scale illustrations, witty animations always add a fun layer to the user interface.</p>
<p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 1rem; caret-color: #414141; color: #414141; font-family: sans-serif; font-weight: 500; text-align: left; font-size: 1rem !important;">Let Agilie create not only fun but an effective UI/UX design for you! Tell us about your project, and we'll take care of all the details.</p>
<p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 1rem; caret-color: #414141; color: #414141; font-family: sans-serif; font-weight: 500; text-align: left; font-size: 1rem !important;">The possibilities are endless when it comes to animation styles and approaches. You can experiment with typography, add custom artwork to input screens, or simplify app navigation. Pay attention to the 3D design trend: claymorphism, which combines the physicality of clay with the interactivity of modern interfaces, is becoming one of the most popular trends in 2023. This style gives a sense of playfulness and nostalgia, and also promotes a more active interaction with the user.</p>
<p style="box-sizing: border-box; margin-top: 0px; margin-bottom: 1rem; caret-color: #414141; color: #414141; font-family: sans-serif; font-weight: 500; text-align: left; font-size: 1rem !important;">With the introduction of 5G, designers no longer need to worry about slow internet, opening up opportunities to implement more complex ideas in the field of animation in 2023.</p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">4. Microinteractions</h2>
<p>Microinteractions have become not just a trend in the design of UX applications, but already a mandatory practice for any digital design. These small interactions, such as button animations or sound notifications, make the user experience more natural and interactive. They add fun and individuality to the interface, giving it a unique character.</p>
<p>Microinteractions can include various elements such as movement, animation, sound effects, or even haptic feedback. In particular, they use visual cues that are clear and intuitive to provide feedback between the user and the interface. This helps bridge the gap between physical and digital perception and provides a responsive experience for users.</p>
<p>Microinteractions are small but important UX elements that make an app easier to navigate and more user-friendly. They also add to the overall mood of the app and contribute to branding through small animated details. At the same time, it is important not to overload the user with too many microinteractions to avoid overload.</p>
<p style="text-align: center;"><img style="width: 800px; height: 600px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/634/content_content_10_tomplay.gif" alt="animated icons design trends" width="800" height="600" /></p>
<p style="text-align: center;"><em>Animated icons for </em><a href="https://www.behance.net/gallery/34364779/Tomplay-interactive-sheet-music" target="_blank" rel="nofollow noopener"><em>Tomplay</em></a><em>, an interactive sheet music app.</em></p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">5. Alternative UI patterns</h2>
<p>Today, many designers see the hamburger menu - the menu we all are so accustomed to - to be a controversial UI pattern, which has its pros and cons. It surely helps to structure in-app navigation, considering the small amount of space mobile devices provide. But it also appears that not all users even realize those three horizontal lines are a significant navigation element, and using the hamburger-like hidden drawers can&nbsp;<a href="https://thenextweb.com/dd/2014/04/08/ux-designers-side-drawer-navigation-costing-half-user-engagement/#.tnw_z465gJHf">seriously reduce</a>&nbsp;user engagement.</p>
<p>Now, designers try out various&nbsp;<a href="https://www.justinmind.com/blog/hamburger-menu-alternatives-to-mobile-uis-most-controversial-pattern/">alternatives to the hamburger menus</a>&nbsp;like using more contextual and intuitive hidden navigation elements, placing navigation in tabs, adding floating action buttons, and experimenting with iOS&rsquo;s 3D-touch technology, allowing users to peek on hidden menu elements.&nbsp;</p>
<p>Which of these patterns will become the next mobile UI trend is yet to be seen.</p>
<h2 style="text-align: justify;"><span style="color: #262b33; font-family: sans-serif; font-size: 26px;">6. Interaction experimenting</span>&nbsp;</h2>
<p>And here appears the question: how to find the interaction patterns that appeal to users best? Why not try experimenting? The new prototyping tools appear now more often than any time before, and each of them offers some new possibilities to professional UI/UX designers in means of building, presenting, and testing new interactions, user flows, and combinations of interactions.</p>
<p>We at Agilie have tried different prototyping tools including&nbsp;<a href="https://www.sketchapp.com/">Sketch</a>,&nbsp;<a href="https://www.protopie.io/">ProtoPie</a>,&nbsp;<a href="http://www.adobe.com/products/experience-design.html">Adobe XD</a>&nbsp;and others, and we&nbsp;<a href="https://dribbble.com/shots/3293259-Hoteller-motion-prototype-ProtoPie">keep experimenting</a>&nbsp;and building concepts in order to the most simple and user-friendly product design solutions.</p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">7. Conversational interfaces</h2>
<p>Personal assistants and chatbots were indeed the technology trends of which everyone spoke throughout 2022. Now, it&rsquo;s time to figure out the best way to connect people with data-driven algorithms by creating capable conversational interfaces, whose usability and functionalities extend far beyond the abilities that regular personal assistants have now.&nbsp;</p>
<p>Imagine the &ldquo;assistant-as-app&rdquo;, an interface messenger-like that can accomplish sophisticated tasks through a natural dialogue with you. And this is only one example of what UI/UX designers can do by employing machine learning and natural language processing (NLP) technologies to build the most convenient human-computer interactions.</p>
<p style="text-align: center;"><img style="width: 800px; height: 450px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/263/content_siri-search1.jpg" alt="conversational interfaces" /></p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">8. Anticipatory design</h2>
<p>Chatbots are not the only way to effectively use data-driven algorithms for providing better services and products. As&nbsp;<a href="https://en.wikipedia.org/wiki/Hick%27s_law">Hick&rsquo;s law</a>&nbsp;suggests, the wider the choice lies before the user, the more time and effort it would require for them to make a choice. Too many choices lead to decision fatigue, and in the case of user experience design, it may be fatal: people just won&rsquo;t waste their time and effort on making choices. As the solution to this problem, there is the concept sometimes dubbed as&nbsp;<a href="https://medium.com/digital-experience-design/a-radical-mindshift-in-ux-anticipatory-design-390e457e4db8#.oixx2b8xp">anticipatory design</a>.</p>
<p>Anticipatory design implies utilizing user behavior data to predict people&rsquo;s choices even before they realize they need to make them. The goal of the anticipatory design is to provide apps with more contextual awareness and narrow down user&rsquo;s choices to one option -&nbsp;the one&nbsp;they need at the exact moment. While this might sound a little dystopian, contextually aware apps can provide much more value to users and make the human-computer interaction as simple as never before.</p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">9. Further exploration of VR and AR</h2>
<p id="isPasted">Virtual and augmented reality have been around for a long time, but we can expect these technologies to become even more important and true UX design trends in 2023. You may be asking why? Apple gave us a few pointers on its own VR/AR headset. And as we all know, when Apple creates something new, it instantly becomes a trend.</p>
<p>Augmented reality is one of the most exciting mobile app design trends in 2023 because it doesn't require any additional hardware, but has incredible effects. For example, users can see a virtual catwalk when choosing clothes or evaluate how the furniture looks in their room. And this is not to mention the potential of AR in the gaming industry.</p>
<p>Over 60% of mobile app developers are using virtual reality (VR) in their designs.</p>
<p>As an alternative, it&rsquo;s pretty possible VR and AR might fit their own niche, just like did wearables - another long-standing inhabitant of various trend lists.</p>
<p style="text-align: center;"><img src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/3787/content_content_content_design_trends_vr_1.jpg" alt="VR" width="800" height="533" /></p>
<h2 style="box-sizing: border-box; margin-top: 0px; margin-bottom: 0.5rem; line-height: 30px; font-size: 26px; color: #262b33; font-family: sans-serif;">10. More responsive websites</h2>
<p>Finally, web browsing has become an integral part of any mobile device user&rsquo;s life.&nbsp;</p>
<p id="isPasted"><a href="https://www.brawnmediany.com/blog/the-crucial-role-of-mobile-friendly-website-design-in-2023/">Google's move to mobile-first indexing</a>&nbsp;is revolutionizing the rules in the SEO world. This means that Google prefers mobile versions of websites when determining search engine rankings. This change is logical, given that a significant part of Internet traffic is now generated from mobile devices. If your website isn't mobile-optimized, it may not rank well in search results, potentially resulting in less regular traffic.</p>
<p>In order to maintain and improve your website's search engine visibility, it is extremely important to have a responsive design that provides an effective look and functionality on mobile devices. A mobile-friendly website will help you stay competitive in search engine rankings.</p>
<p>And as the market goes mobile-first, designers must answer to this by building responsive websites that work, look, and feel consistent on mobile screens just as they are on desktops.</p>
<p>Year after year, the direction which mobile design trends take doesn&rsquo;t change drastically, but the trends themselves grow in detail and adjust to people&rsquo;s and the market&rsquo;s current needs and technological trends. Which trends from our today&rsquo;s top we&rsquo;ll see in the best app design 2024? Only time will show.</p>

<p>In this article, we&rsquo;ll speak about&nbsp;what we see as the most interesting mobile design trends for this&nbsp;year.</p>

Mobile design trends 2017: material design, alternative UI patterns, anticipatory design, AR and VR and more.

Top 10 Mobile App Design Trends 2017

<p>In 2016, we took on ticket booking apps, tried making banking apps more visually appealing, tested different interactions for e-commerce apps, and a lot of other stuff. In this article, you&#39;ll see the animations Agilie&#39;s design studio had been crafting throughout the last year.</p>

<p>Let&rsquo;s start!</p>

<h3><strong><a href="https://dribbble.com/shots/3060365-Banking-app">Banking app concept</a></strong></h3>

<p><em>by Lina Lysenko</em></p>

<p><img alt="banking app animation" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/243/content_2_banking_app.gif" style="width: 640px; height: 480px;" /></p>

<p>Most banking apps are quite dull-looking, and working with them sometimes feels really like going into a bank - boring and uninspiring. In this concept, we decided&nbsp;to add some colors to the digital banking routine and imagine how to make a banking app stand out from a bunch of other similar apps.</p>

<h3><strong><a href="https://dribbble.com/shots/2896331-Flash-Garage-concept">Energy saving and management app concept</a></strong></h3>

<p><em>by Alexey Radzhabov</em></p>

<p><img alt="energy saving app" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/244/content_flash_garage.gif" style="width: 640px; height: 480px;" /></p>

<p>Little by little, the electric power is replacing gasoline and even being employed in more unexpected cases. The Flash Garage project aims to help you track the statuses of your batteries on your electricity-powered skateboard, bicycle or scooter.</p>

<h3><strong><a href="https://dribbble.com/shots/2832006-Cinema-App">Cinema tickets booking app concept</a></strong></h3>

<p><em>by Yegor Kosinov</em></p>

<p><img alt="Cinema app" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/255/content_4_-cinema_app_gif11.gif" style="width: 400px; height: 301px;" /></p>

<p>We at Agilie are all keen movie lovers and, therefore, moviegoers. That&rsquo;s why we&rsquo;re so concerned about finding new visually appealing and convenient ways to buy cinema tickets. This concept is one of such takes on quick and easy ticket booking process - just choose a movie, make few taps, and here you go with your digital ticket.</p>

<h3><strong><a href="https://dribbble.com/shots/3132086-Booking-concept">Easy tickets booking app concept</a></strong></h3>

<p><em>by Yegor Kosinov</em></p>

<p><img alt="ticket booking" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/254/content_1_-booking_app_concept11.gif" style="width: 400px; height: 300px;" /></p>

<p>And here&#39;s a slightly different approach to online ticket booking.</p>

<p>We often buy cinema, concert, or even theater tickets online while being on the move. In such situations, tiny input forms turn the booking process into quite a painful endeavor. This concept of a cinema ticket booking app that solves the problem by offering large UI elements and employing simple gestures to make the ticket-buying process fast and convenient, regardless the situation.</p>

<h3><strong><a href="https://dribbble.com/shots/2879618-Chat-App">Material-based design concept for a messaging app</a></strong></h3>

<p><em>by Lina Lysenko</em></p>

<p><img alt="messaging app material" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/245/content_5_chat_app.gif" style="width: 640px; height: 480px;" /></p>

<p>Here, we experimenting a little with applying Google&rsquo;s Material Design to a messaging app. Navigating through a simple card layout, a user can make calls, and create group and secret chats.</p>

<h3><strong><a href="https://dribbble.com/shots/2781759-Financial-App-Onboarding">Wirex</a></strong><strong><a href="https://dribbble.com/shots/2781759-Financial-App-Onboarding"> financial app onboarding</a></strong></h3>

<p><em>by Lina Lysenko</em></p>

<p><img alt="" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/246/content_6_financial_app_onboarding.gif" style="width: 640px; height: 480px;" /></p>

<p>Meet the onboarding animation for a <a href="/blog/your-own-cryptocurrency-from-scratch-everything-you-need-to-know-to-create-your-cryptocurrency">Wirex</a>, a financial app designed by the Agilie team.&nbsp;The onboarding showcases how easy a user can manage your bitcoins and card accounts using the Wirex app: send, convert, and manage money with just a few taps with the Wirex application.</p>

<h3><strong><a href="https://dribbble.com/shots/2902496-Payment-preloader">Payment preloader for </a></strong><strong><a href="https://dribbble.com/shots/2902496-Payment-preloader">a tickets</a></strong><strong><a href="https://dribbble.com/shots/2902496-Payment-preloader"> booking app</a></strong></h3>

<p><em>by Yegor Kosinov</em></p>

<p><img alt="online payment preloader" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/247/content_7_payment_preloader.gif" style="width: 640px; height: 480px;" /></p>

<p>Most of us prefer buying tickets online using a mobile app. But we don&#39;t like staring at an empty screen while waiting for the payment approval. So why not to wait for it with some popcorn?</p>

<h3><strong><a href="https://dribbble.com/shots/2637299-Carousel">Carousel view concept for a shopping website</a></strong></h3>

<p><em>by Alexey Radzhabov</em></p>

<p><img alt="shopping carousel" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/248/content_8_carousel.gif" style="width: 640px; height: 480px;" /></p>

<p>Why not try something new for shopping websites? Here&#39;s an elegant&nbsp;carousel for the product catalog. It turns showcasing items into a fun, interactive process.&nbsp;</p>

<h3><strong><a href="https://dribbble.com/shots/2608426-STITCH-Shopping-app-UI-Kit">Animated UI kit for an e-commerce app</a></strong></h3>

<p><em>by Lina Lysenko</em></p>

<p><img alt="shopping app UI kit" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/252/content_stitch.gif" style="width: 640px; height: 480px;" /></p>

<p>An elegant and clean UI kit for the concept of a&nbsp;shopping app called <a href="https://dribbble.com/shots/2485821-S-T-I-T-C-H">STITCH</a>. All components here are vector-based, fully compatible and editable. Layers are organized, carefully named and grouped.</p>

<h3><strong><a href="https://dribbble.com/shots/2558081-Tomplay-icons-animation">Animated icons for a music app</a></strong></h3>

<p><em>by Alexey Radzhabov</em></p>

<p><img alt="animated icons" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/249/content_10_tomplay.gif" style="width: 640px; height: 480px;" /></p>

<p>Animated icons are a good tool to make interactions fun and intuitive. <a href="https://www.behance.net/gallery/34364779/Tomplay-interactive-sheet-music">Tomplay</a>, an interactive sheet music app allows students to learn and practice playing numerous music instruments, learn different scores, and make own scores and recordings.</p>

<p>&nbsp;</p>

<p>The year 2017 has only begun, but it promises to be even more productive for our team. We have already crafted some new cool animations which you can check out on our&nbsp;<a href="https://dribbble.com/agilie">team page on Dribbble</a>. Also, take a look at Agilie&#39;s&nbsp;<a href="https://www.behance.net/agiliebunny">projects on Behance</a> and follow our <a href="https://www.pinterest.com/agilieninja/">brand new Pinterest page</a>.&nbsp;</p>

<p>Oh, and don&rsquo;t miss new stories on our <a href="https://medium.com/@agile_ninjas">Medium blog</a> - there will be a lot of interesting stuff on UI/UX design and app development coming this year!</p>


<p>In 2016, we took on ticket booking apps, tried making banking apps more visually appealing, tested different interactions for e-commerce apps.</p>


Best animations 2016 by the Agilie design team

Agilie Design: The Year 2016 in Animations

<p style="text-align: justify;">Since its appearance in 2014, Google&rsquo;s Material Design language has set up the way designers view and build interfaces for years ahead.&nbsp;</p>
<p style="text-align: justify;">At first glance, it seems that Material Design is just a new graphical way to provide more vibrant colors and shadows. Actually, it&lsquo;s a new approach to developing different kinds of software products and their functionality. Material Design provides an extensive library of design patterns and guidelines that work for any medium. Originally used mainly for Android apps and Google products, its principles have quickly found their way to iOS and web design.</p>
<p style="text-align: justify;">One of the many highlights of Google&rsquo;s design language is the new approaches to animations and transitions. In this article, we&rsquo;re going to provide you with some tips on these aspects of Material Design based on our team&rsquo;s own experience.</p>
<h2 style="text-align: justify;">What is Material Design</h2>
<p style="text-align: justify;"><a href="https://material.io/guidelines/material-design/introduction.html" target="_blank" rel="nofollow noopener">Material Design</a> is&nbsp;a new approach to user interaction with the program elements. It has originated from information cards from the Google Now service. Google developers have come to the conclusion that elements must have physical properties - thickness, shadow, speed, so a user could have an impression of interacting with real tangible objects. Paper is the basis of the material. Take its physical properties, add bright colors, spectacular animations, minimalism and you&rsquo;ll get Material Design.</p>
<p style="text-align: center;"><img style="width: 800px; height: 318px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/232/content_material_design.png" alt="" /></p>
<p style="text-align: justify;"><em>The principles of Material Design</em></p>
<p style="text-align: justify;">The material has not only physical properties. It can change size and color, be split into parts or merge into a solid sheet. Animation in Material Design is a very important part of the concept. It takes into account the physical properties of objects, their acceleration, and deceleration, the inertia. The movement of objects is smooth and convenient for visual perception. However, it should be used only when it&rsquo;s needed, without overloading the content. Due to this, the design does not return to complicated skeuomorphism, and, at the same time, it is not as simple as a flat design.</p>
<p style="text-align: justify;">Here, we gathered ten main principles that help you understand how to create truly meaningful transitions and animations using material motion.</p>
<h2 style="text-align: justify;">10 main principles of animation in Material Design</h2>
<h3 style="text-align: justify;">1. Everything in the interface must follow a certain logic.</h3>
<p style="text-align: justify;">The quality of <a href="https://agilie.com/expertise/technology/ui-ux-design" target="_blank" rel="noopener">user experience</a> within an app mainly depends on how the user flow is designed. Material Design promotes the idea to make the user flow as seamless and natural as possible.</p>
<p style="text-align: justify;">The material can change shapes and each object can move independently during the transitions between screens. For example, pop-up windows and buttons appear from the button that the user clicks, not in the middle of the screen, or one screen can smoothly transit into another while preserving some elements from previous one, yet reshaping them.</p>
<p style="text-align: center;"><img style="width: 600px; height: 450px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/233/content_material_fitness_transitions.gif" alt="fitness app material design animations" /></p>
<p style="text-align: justify;"><em>Our <a href="https://dribbble.com/shots/2069918-Fitness-Tracker-Material-Design" target="_blank" rel="nofollow noopener">fitness tracking app concept</a>. We wanted to deliver screen transitions in the most logical and natural way.</em></p>
<h3 style="text-align: justify;">2. All objects must respond to touch with animation.&nbsp;</h3>
<p style="text-align: justify;">According to the Material Design guidelines, all interactive material objects must respond to users&rsquo; touch in one way or another.</p>
<p style="text-align: justify;">Thus, the effect of ripples radially spreading on the interactive surface is the most common interaction animation in&nbsp;Material Design. Another material reaction to a user&rsquo;s tap is bouncing and hovering effects on an object a user interacts with.</p>
<p style="text-align: justify;">Having all micro-interactions in an app to provide visual feedback to users&rsquo; actions makes the UX more immersive and enjoyable.</p>
<p style="text-align: center;"><img style="width: 382px; height: 399px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/234/content_material_design_ripples.gif" alt="material ripples effect" /></p>
<p style="text-align: justify;"><em>Ripples and hovering effects as the response to an interaction. Source: android-developers.googleblog.com</em></p>
<h3 style="text-align: justify;">3. Use icon animations.</h3>
<p style="text-align: justify;">It&rsquo;s a relatively new but very promising concept. Users do not pay attention to these details, but the general perception of the application becomes easier.<br />Some icons like a hamburger menu or back button can morph as the button's function changes, others can appear from the context buttons&nbsp;with the circular reveal effect. Here&rsquo;s an example of how it can be done:</p>
<p style="text-align: center;"><img style="width: 640px; height: 480px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/684/content_content_material_design_cards_layout_chat-app_-_600-min.gif" alt="chat app with cards layout" width="640" height="480" /></p>
<p style="text-align: justify;"><em>Our <a href="https://dribbble.com/shots/2879618-Chat-App" target="_blank" rel="nofollow noopener">chat app concept</a> uses card layout and different icon animations</em></p>
<h3 style="text-align: justify;">4. While the elements are separated, the selected object is visually lifted.</h3>
<p style="text-align: justify;">The Material Design concept provides great possibilities to create a feeling of a space consisting of physical objects on the other side of the screen. Use shadows and animations to achieve this sense of space and visually lift the object you want to highlight - make it hover above other material objects.</p>
<h3 style="text-align: justify;">5. All the elements must move in a coordinated manner and in the general direction.&nbsp;</h3>
<p style="text-align: justify;">Chaotic motion and object's&rsquo; appearance on a screen distracts and confuses a user complicating their perception of the objects. Also, it&rsquo;s better not to stagger objects letting the next to appear before the animation of the previous one isn&rsquo;t even finished.</p>
<p style="text-align: center;"><img style="width: 600px; height: 450px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/704/content_content_material_design_animation_1-min.gif" alt="material motion" width="600" height="450" /></p>
<p style="text-align: justify;"><em>An example of animation in Material Design <a href="https://dribbble.com/shots/1717585-Google-s-Material-Design-Animation" target="_blank" rel="nofollow noopener">by Balraj Chana</a> features transitions with a number of gradually animated elements that appear in one general direction.</em></p>
<h3 style="text-align: justify;">6. Before you create a transition, it&rsquo;s important to understand what information needs emphasis.</h3>
<p style="text-align: justify;">So you could compose both objects&rsquo; layout and the way they appear on the screen during the transitions. This will allow you to combine pages visually without a sharp movement and create the most intuitive user flow.</p>
<h3 style="text-align: justify;">7. Transitions between pages should be smooth and contain common elements.</h3>
<p style="text-align: justify;">To make the user flow feel even more seamless, you can move some elements from screen to screen, so that a user doesn&rsquo;t get lost and knows where they are.</p>
<p style="text-align: center;"><img style="width: 600px; height: 450px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/235/content_material_design_login_touch_animation.gif" alt="login screen animation" /></p>
<p style="text-align: justify;"><em>A login screen for our <a href="https://dribbble.com/shots/2034562-To-Do-Manager-Login" target="_blank" rel="nofollow noopener">To-Do Manager app</a>. The app icon present on both screens ensures the consistent transition from one screen to another.</em></p>
<h3 style="text-align: justify;">8. Acceleration and deceleration of the objects should be smooth.</h3>
<p style="text-align: justify;">To make transitions comprehensible for users, ensure all motions are smooth and as close to reality as possible. As Material Design aims to replicate the physics of the natural world, the smoothness of motions can be emphasized by the inertia during acceleration and deceleration of animated objects.</p>
<h3 style="text-align: justify;">9. Each material object can have its own timing.&nbsp;</h3>
<p style="text-align: justify;">There is no need to animate objects simultaneously, it&rsquo;s more natural if they appear one by one, so a user could look through the objects gradually. When objects appear on the screen all at once, it&rsquo;s overwhelming and eliminates a clear focus.</p>
<h3 style="text-align: justify;">10. Duration is important.</h3>
<p style="text-align: justify;">While Material Design makes it possible to create smooth transitions, it&rsquo;s important to find the ideal duration for each animation. Too slow animations are distracting and will harm the user flow. In the same time, too quick transitions can be confusing. A designer&rsquo;s challenge here is to find the perfect balance between speed and clarity of transitions.</p>
<p style="text-align: center;"><img style="width: 600px; height: 450px;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/236/content_2_-_preview.gif" alt="material design animations" /></p>
<p style="text-align: justify;"><em>Material Design animations by Jelio Dimitrov</em></p>
<p style="text-align: justify;">The animation is the very core concept of Material Design. It&rsquo;s not just a trend, but a necessary component which simplifies the navigation, improves the user experience, and, ultimately, breaths life into a product.</p>
<p style="text-align: justify;">Want us to help you design your mobile app or website? <a href="https://agilie.com/contacts" target="_blank" rel="nofollow noopener">Contact us</a> and let's discuss&nbsp;your ideal product!</p>

<p>At first glance, it seems that material design is&nbsp;just a new graphical way to provide more vibrant colors and shadows.</p>

Material design is not just a new graphical way to provide vibrant colors and shadows. This design is based on a new way of user interaction with program elements

Tips for Animations in Material Design

<p dir="ltr" style="text-align: justify;">In a dynamic world of blockchain technologies, Solidity became the first programming language for smart contract creation on blockchain platforms, including the Ethereum platform. Automatic transaction processing, the development of smart contracts, and different applications are the features that highlight the impact of language on blockchains. The flexibility and capability of Solidity certainly cannot be underestimated, but it also has its impasse. An ineffective smart contract design may result in major financial damage, showing the necessity of studying common issues and selecting proven practices to reduce potential risks. This article introduces the complexity of Solidity programming and explains how to prevent frequent errors and obtain reliable, secure, and efficient smart contracts.</p>
<div id="form-description" class="form-description" data-title="key Takeaways " data-text="Solidity offers different tools for decentralized app development.

Developers encounter issues like syntax errors, memory management problems, gas optimization obstacles, etc.

The Solidity community provides documentation, tools, platforms, and new trends in smart contract security.">
<div class="form-description-title">Key Takeaways</div>
- Solidity offers different tools for decentralized app development.&nbsp;<br />- Developers encounter issues like syntax errors, memory management problems, gas optimization obstacles, etc.&nbsp;<br />- The Solidity community provides documentation, tools, platforms, and new trends in smart contract security.</div>
<h2 dir="ltr" style="text-align: justify;">Overview of Solidity Programming Language</h2>
<p dir="ltr" style="text-align: justify;">Solidity is a programming language, among others, for building smart contracts on blockchain frameworks, including&nbsp;<a href="https://ethereum.org/en/" target="_blank" rel="noopener">Ethereum</a>. Solidity allows developers to design decentralized applications (DApps) that run on blockchain technology. Solidity can handle blockchain transactions, smart contract implementation, and automatic processing without centralized authority.</p>
<p dir="ltr" style="text-align: justify;">Its design enables the making of structural contracts for voting, crowdfunding, blind auctions, multi-signature wallets, and many other products. The language provides inheritance, libraries, and complex user-defined types.</p>
<p dir="ltr" style="text-align: justify;">However, Solidity programming has problems that have yet to be solved. In terms of mistakes in smart contracts, the consequences can be rather costly. This underscores the need to know standard Solidity programming issues and apply the principles to prevent them in the heaving line. In the coming section, we will explore some of the typical bugs and guide how to handle the complexities of Solidity programming effectively.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926032118.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Common Issues and How to Avoid Them</h2>
<p dir="ltr" style="text-align: justify;">Solidity programming and writing smart contracts are constantly challenging tasks. Identifying and recognizing common issues and contract vulnerabilities can develop smart contracts&rsquo; dependability, security, and productivity. Let's explore some typical errors and solutions to them.</p>
<h3 dir="ltr" style="text-align: justify;">Syntax Errors and Compile-time Issues</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Some problems with Solidity arise from syntactic and compilation time issues, like incorrect data types, visibility specifiers, or misusing language constructs.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Debugging tools like&nbsp;<a href="https://remix.ethereum.org/#lang=en&amp;optimize=false&amp;runs=200&amp;evmVersion=null&amp;version=soljson-v0.8.24+commit.e11b9ed9.js" target="_blank" rel="noopener">Remix</a>, Truffle, or Hardhat facilitate catching these cracks in the early phases. Code convention and solidity style guide compliance can decrease syntax error quantity. Maintaining the updated status of the Solidity version and syntax deformation are equally important steps.</p>
<h3 dir="ltr" style="text-align: justify;">Null Pointer Exceptions and Runtime Errors</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;In Solidity, as in standard programming languages, runtime errors, including null pointer exceptions, may appear. It can lead to contract failure or inappropriate behavior.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Implement extensive input validation and take advantage of &ldquo;assert,&rdquo; &ldquo;require,&rdquo; and &ldquo;revert&rdquo; conditions for error control at the runtime.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Require" is perfect for managing conditions related to input loads and states that the functions run on.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Assert " should be applied to cover internal errors and invariant checks. It burns all the gas if the malfunction happens, restraining its deployment.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Revert" is an essential utility that will help to create a human-readable message describing what went wrong, causing the operation to fail. It will greatly help debugging and give the users immediate feedback.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Truffle, Hardhat, and OpenZeppelin frameworks supply software developers with an advanced Solidity development environment, including testing, debugging, and deployment tools.</p>
<h3 dir="ltr" style="text-align: justify;">Memory Management Problems</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Incorrect memory and gas storage usage would lead to higher transaction fees or burdens on the contract while performing complex functions and loops.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Understanding the distinction between persistent and temporary memory is necessary for success. Data structures with minimal write memory can positively impact gas costs and contract efficiency.</p>
<h3 dir="ltr" style="text-align: justify;">Contract Security Vulnerabilities</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Common security vulnerabilities entangled in contracts that are not properly audited are integer overflow/underflow, front-running, and reentrance attacks.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Secure patterns (checks-effects-interactions), using the SafeMath library for arithmetic operations, and thorough security scans with tools like&nbsp;<a href="https://mythx.io/" target="_blank" rel="noopener">MythX</a>&nbsp;or Slither can significantly improve the security.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926207432.png" width="100%" height="100%" /><span class="incut--text">Read more about best practices in Solidity programming for secure smart contract design.</span></a></p>
<h3 dir="ltr" style="text-align: justify;">Gas Limit and Out-of-Gas Issues</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;The gas limit exceedance is generally caused by inefficient code and unoptimized cycles.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Smart contract code can be optimized by simplifying logic, minimizing transaction data, and applying gas-saving templates. Regression testing functions with various inputs to calculate gas consumption may assist in forecasting and preventing problems related to gas issues. "Require" statements can be inserted to eliminate redundant code.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Smart Contract Upgradability Challenges</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Smart contracts remain unchanged after deployment. Nevertheless, the business logic needs to be updated, complicating the possibility of contract renewal.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Make contracts design with ease and flexibility in protocol, using some universal templates, e.g., proxy contract or diamond standard (<a href="https://eips.ethereum.org/EIPS/eip-2535" target="_blank" rel="noopener">EIP-2535</a>). With this framework, it is possible to modify the contract logic separate from the contract address and the information stored on the blockchain.</p>
<h3 dir="ltr" style="text-align: justify;">Handling External Dependencies</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Using outsourcing or external services, the system can collapse or become vulnerable if the dependence on these entities fails or is unavailable.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Ensure that dependencies are reliable and stable. Incorporating circuit breakers or emergency stop buttons can avoid instability and provide a fail-safe mechanism in case of unexpected behavior of an externally dependent tool.</p>
<p dir="ltr" style="text-align: justify;">Staying aware of the newest Solidity editions helps discover better options for error handling that guarantee increased security and efficiency of the smart contract development process.&nbsp;</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com/" target="_blank" rel="noopener">Agilie</a>, a blockchain software company, mainly uses Solidity to provide secure, productive, innovative, and high-quality blockchain solutions. The company's practice confirms the need to invest in robust error handling to create trust, an essential factor for blockchain applications.&nbsp;We are proud of our dedicated professional team that developed high-class products.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" 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/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926339320.png" width="100%" height="100%" /><span class="incut--text">Learn more about some of our fascinating projects.</span></a></p>
<p dir="ltr" style="text-align: justify;">Nonetheless, even with the most professional implementation, developers sometimes encounter problems requiring additional investigation. In the following section, we shed light on resources that all Solidity developers should have close at hand.</p>
<h2 dir="ltr" style="text-align: justify;">Resources for Troubleshooting Solidity Issues</h2>
<p dir="ltr" style="text-align: justify;">The crucial skills for developers are maintenance and accomplishing tasks. So, we have put together the main resources to help with these tasks.</p>
<h3 dir="ltr" style="text-align: justify;">Official Solidity documentation</h3>
<p dir="ltr" style="text-align: justify;">Any Solidity developer who encounters problems should first consult the&nbsp;<a href="https://docs.soliditylang.org/en/v0.8.24/" target="_blank" rel="noopener">official Solidity documentation</a>. It gives thorough guidance about language syntax, structure, and changes. The documentation segment also presents a section about common mistakes, deflection, and safety concerns, which is necessary for developers who want to write secure code.</p>
<h3 dir="ltr" style="text-align: justify;">Ethereum Stack Exchange</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://ethereum.stackexchange.com/" target="_blank" rel="noopener">Ethereum Stack Exchange</a>&nbsp;is a gold mine of information where developers pose questions and make comments on an array of Solidity issues. It is an active group that brings junior and highly experienced programmers together to seek or provide interesting and complicated solutions.</p>
<h3 dir="ltr" style="text-align: justify;">Solidity GitHub</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://github.com/ethereum/solidity/issues" target="_blank" rel="noopener">Solidity GitHub&nbsp;</a>is the resource where the developers can search past and existing issues for bugs, features, and solutions from the Solidity community.</p>
<h3 dir="ltr" style="text-align: justify;">Remix IDE</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://remix.ethereum.org/#lang=en&amp;optimize=false&amp;runs=200&amp;evmVersion=null&amp;version=soljson-v0.8.24+commit.e11b9ed9.js" target="_blank" rel="noopener">Remix IDE</a>&nbsp;is an online open-source IDE and desktop application that allows the development of Solidity contracts. The feature set includes static analysis that could help identify issues before deployment. The Remix IDE is one of the vital tools for developers whose aim is quick prototyping and debugging smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">Community forums and the Internet space</h3>
<p dir="ltr" style="text-align: justify;">Platforms such as Reddit, specifically the&nbsp;<a href="https://www.reddit.com/r/ethdev/?rdt=46443" target="_blank" rel="noopener">r/ethdev subreddit</a>, and other online social media make it an ideal place for getting advice, sharing experiences, and staying up to date with the latest solutions and practices in Solidity development.</p>
<h3 dir="ltr" style="text-align: justify;">Educational platforms and courses</h3>
<p dir="ltr" style="text-align: justify;">Many online courses cover Solidity and Ethereum development topics, ranging from beginner to expert levels. The learning environment in these courses frequently involves practical exercises that offer for-the-instance projects, which provide valuable experience in figuring out and problem-solving in real-world situations.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Certainly, you can contact Agilie, the company that successfully cowers blockchain development and provides support. We'll be happy to make suggestions and ensure we have a better solution for your project.&nbsp; Also, you can find a lot of helpful information on our&nbsp;<a href="https://agilie.com/blog" target="_blank" rel="noopener">blog</a>.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926445619.png" width="100%" height="100%" /><span class="incut--text">Find out more about our blockchain software development services.</span></a></p>
<p dir="ltr">Decentralized technology is shifting the reality, as it is supported by a community of developers proficient in relevant skills and technology. We are interested in future trends and development directions and are glad to share this information with you in the coming section.</p>
<h2 dir="ltr" style="text-align: justify;">Future of Smart Contract Security</h2>
<p dir="ltr" style="text-align: justify;">The fast-paced development of the digital sphere constantly reinvents smart contract security, too. This arena is marked by an ongoing arms race: developers and security specialists introduce useful security tools, and attackers, in turn, come up with new channels of attack. In this ever-changing ecosystem, tracking new trends and technological innovations is also a key issue for all contract systems developers. Let's discuss some future major trends.</p>
<h3 dir="ltr" style="text-align: justify;">Formal verification</h3>
<p dir="ltr" style="text-align: justify;">Formal verification consists of mathematical demonstration that smart contracts are correct according to their specified purpose to ensure they work smoothly. Accepting this approach as a development tool is anticipated to greatly cut the number of expensive bugs and Solidity vulnerabilities in smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">The rise of the security oracles</h3>
<p dir="ltr" style="text-align: justify;">Security oracles will execute external services that provide the smart contract with real-time security data, such as notifications of known vulnerabilities or when a security incident occurs across the network. Smart contracts can be updated in response to new security threats by connecting with security oracles.</p>
<h3 dir="ltr" style="text-align: justify;">Quantum-resistant smart contracts</h3>
<p dir="ltr" style="text-align: justify;">The introduction of quantum computing places the supporting cryptographic methods that underlie blockchain security at risk. This has prompted an effort to create quantum-resistant algorithms for smart contracts. This out-of-box methodology aims to make smart contracts possible even with the capabilities of quantum computers.</p>
<h3 dir="ltr" style="text-align: justify;">Automating security audits and AI</h3>
<p dir="ltr" style="text-align: justify;">The future of smart contract security is closely linked to the growing adoption of artificial intelligence and machine learning. These technologies can scan smart contracts on a larger scale and pinpoint the vulnerabilities promptly, accurately, and efficiently.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Developing applications with a deep comprehension of blockchain technology and a progressive approach to development and security, Agilie becomes a reliable partner for companies willing to securely enter the area of smart contract creation.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926488996.png" width="100%" height="100%" /><span class="incut--text">Connect with Agilie to transform ideas into a secure and innovative reality.</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Solidity is a programming language mainly used to create smart contracts and Decentralized Apps (DApps) on the Ethereum virtual machine. Since the blockchain landscape is dynamic and changing daily, Solidity programming complications and security issues will also grow and develop correspondingly. Developers can drastically improve smart contracts&rsquo; quality and dependability by knowing common mistakes and using available resources. Agilie, with its great expertise in blockchain programming, provides customers with highly technological and efficient solutions, ensuring that smart contracts become more secure.</p>
<p>&nbsp;</p>

<p>Explore the most common Solidity issues and find out the best practices on how to avoid them with Agilie.</p>

Explore the most common Solidity issues and find out the best practices on how to avoid them with Agilie.

What Are the Most Common Solidity Issues and How to Avoid Them?

<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs), a new capital-raising tool in the digital financial sector, combine the traditional finance world with blockchain and regulatory compliance. STOs provide digital tokens that can be exchanged for the shares of underlying assets in the future in an encrypted and legally compliant way. They fuse the prospects of cryptocurrency with the essential features of regulation and safeguarding for investors, thus widening the category of investors and establishing a more powerful investment model in the long run. At the same time, STOs have pros and cons, so we offer to discover them in this article.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways " data-text="Security token offering is a regulatory-compliant form of fundraising that offers global capital access and increased liquidity for traditionally illiquid assets. 

STOs operate within securities law, providing a safer option for investors and companies, but also include some risks. 

Studies show that companies conducting STOs have an average return on investment (ROI) of 156% within the first year.">
<div class="form-description-title">Key Takeaways</div>
- Security token offering is a regulatory-compliant form of fundraising that offers global capital access and increased liquidity for traditionally illiquid assets.&nbsp;<br />- STOs operate within securities law, providing a safer option for investors and companies, but also include some risks.&nbsp;<br />- Studies show that companies conducting STOs have an average return on investment (ROI) of 156% within the first year.</div>
<h2 dir="ltr" style="text-align: justify;">Understanding the STOs</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are an innovative way of raising money that integrates technology and regulatory compliance. STOs are the issuance of digital tokens that are recorded on a blockchain, representing investors' rights to underlying assets or profits. These tokens have been defined as securities and thus attract regulators' scrutiny and adherence to legal frameworks to preserve investors' safety and market integrity.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702549563.png" /></p>
<p dir="ltr" style="text-align: justify;">The principle of the tokenization process applies to a wide range of assets, such as real estate, stocks, bonds, or even artwork. It democratizes access to investment opportunities, increases liquidity, and reduces cost by being an intermediary elimination. Through the blockchain in the tokenization process, transaction integrity and transparency are ensured while fraud and disputes are minimized. The STOs fill the gap between STOs and ICOs since they merge the efficiency and transparency of the blockchain with security. The legal framework that governs STOs is vital because they must comply with the securities law, which ensures transparency, security, and accountability. This compliance covers the registration of the offering with regulatory bodies (like the&nbsp;<a href="https://www.sec.gov/" target="_blank" rel="noopener">SEC</a>), financial and operational disclosure, and conformity with investor protection regulations.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702592099.png" /></p>
<h2 dir="ltr" style="text-align: justify;">The Pros of STOs</h2>
<p dir="ltr" style="text-align: justify;">The emergence of STO as an investment and fundraising tool that specifically meets the needs of both investors and issuers has been the most distinctive alternative for both the conventional and digital ways of funding.</p>
<h3 dir="ltr" style="text-align: justify;">Access to global capital</h3>
<p dir="ltr" style="text-align: justify;">STOs provide an all-the-world access capital toolkit for startups, small-cap, or big business enterprises to tap large capital pools. Unlike classic investment vehicles based on restrictions from the local legislature, STOs allow those residing in different parts of the world to participate in investment.</p>
<p dir="ltr" style="text-align: justify;">Therefore, assets can be traded beyond established borders, determining new markets and lowering financing costs. Investors enjoy enhanced opportunities as a result.</p>
<h3 dir="ltr" style="text-align: justify;">Increased liquidity</h3>
<p dir="ltr" style="text-align: justify;">Through tokenization, there is a possibility of having intangible assets like land and artwork converted into tradable and non-fungible digital assets capable of fractional ownership. This function greatly benefits the liquidity of these assets, making them suitable for selling and buying on the secondary markets. Since the enhanced liquidity can reduce investors' worries about their future obligations and enable them to access better returns quickly, the investments will be equally attractive.</p>
<h3 dir="ltr" style="text-align: justify;">Improved transparency and compliance</h3>
<p dir="ltr" style="text-align: justify;">Blockchain offers wider visibility and higher security. Each transaction is recorded in a register that cannot be changed or tampered with, and all the participants can see. The ledger provides real-time transparency. This, therefore, eliminates the existence of intermediaries, decreases transaction costs, and boosts efficiency. Last but not least, STO is based on the regulatory framework and securities rules, which aim at protecting investors' rights, and the real offer is project-related.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/8-latest-crypto-fundraising-trends-that-shape-2024" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702637547.png" width="100%" height="100%" /><span class="incut--text">Read more about the latest crypto fundraising trends.</span></a></p>
<h3 dir="ltr">Partial ownership</h3>
<p dir="ltr" style="text-align: justify;">STOs disrupt investing in precious assets through fractional ownership. Assets that were once exclusively owned by rich individuals or institutional investors can now be fractionalized and divided into smaller portions, making those assets more affordable to a broader range of investors. The wider-spreading investment opportunities allow small investors to diversify their portfolios while increasing the investor base and injecting new capital into the markets.</p>
<h3 dir="ltr" style="text-align: justify;">Programmable security</h3>
<p dir="ltr" style="text-align: justify;">Programmability is realized in STO by merging&nbsp;<a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">smart contracts</a>&nbsp;into tokens and establishing programmable securities. These smart contracts can perform various functions, including dividend distribution, voting rights, and compliance check tasks. This step simplifies operations and minimizes administrative jobs.</p>
<p dir="ltr" style="text-align: justify;">Agilie's specialty in delivering secure and interoperable technology solutions makes us a prominent player in bringing STO to companies aiming to optimize their capacity by utilizing the inherent value of blockchain.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702811161.png" width="100%" height="100%" /><span class="incut--text">Read more about our blockchain development benefits.</span></a></p>
<p dir="ltr">The benefits are notable, but the disadvantages should also be considered when deciding on a fundraising method.</p>
<h2 dir="ltr" style="text-align: justify;">The Cons of Security Token Offerings</h2>
<p dir="ltr" style="text-align: justify;">STOs use a mix of regulatory compliance and blockchain technology, which facilitates the generation of new drawbacks.</p>
<h3 dir="ltr" style="text-align: justify;">Regulatory Uncertainty</h3>
<p dir="ltr" style="text-align: justify;">The STOs are still observed within the scope of the national laws, as the flexibility of the global securities regulatory system remains a feature. The changeability of the environment might unpredictably add involvedness to STO issuance as the jurisdictions decide to upgrade their outdated laws concerning adopting new technologies. These complexities of this legal density cause more difficulties for global STO projects in drawing foreign investments.</p>
<h3 dir="ltr" style="text-align: justify;">Market Acceptance and Understanding</h3>
<p dir="ltr" style="text-align: justify;">The concept of tokenized securities is very novel, and hence misconceptions and skepticism exist among investors. Contrary to what traditional instruments like stocks, bonds, and derivatives usually do to them, most see STOs as too hard to understand or speculative. This psychological fear further leads to low rates of STO adoption, which then may need more public education and marketing campaigns to increase acceptance and confidence.</p>
<h3 dir="ltr" style="text-align: justify;">Investor Accreditation Limitations</h3>
<p dir="ltr" style="text-align: justify;">Most STOs are designed for accredited or qualified investors since regulatory frameworks govern their operation to protect retail investors from high-risk investments. On the one hand, full compliance and transparency are ensured by this technique. On the other hand, it results in a smaller base of investors, which decreases the campaign's scale and scope.</p>
<h3 dir="ltr" style="text-align: justify;">Expenditures and Burdens of Implementation</h3>
<p dir="ltr" style="text-align: justify;">STOs must comply with all international regulatory requirements, the vast majority of which carry a considerable cost and red tape. The cost for legal advisers, auditors, and compliance platform development can be quite high. Besides this, another thing that needs a lot of adjustment is the strict compliance requirements that often change. Therefore, having experienced professionals and dedicated people is a must.</p>
<h3 dir="ltr" style="text-align: justify;">Technological Risks</h3>
<p dir="ltr" style="text-align: justify;">While blockchain technology offers significant benefits, it has risks. Security vulnerabilities may result in hacking incidents, and the decentralized structure of blockchain makes it difficult to recover assets if a private key is lost. These threats trigger the need for robust security guidelines and disaster recovery plans to reduce the possible damage.</p>
<h3 dir="ltr" style="text-align: justify;">Limited Secondary Market</h3>
<p dir="ltr" style="text-align: justify;">The immature secondary market for trading tokenized securities can limit liquidity and, therefore, diminish the potential attractiveness of STOs to investors. On the one hand, the automaticity of STOs is expected to increase the effectiveness of the secondary market; on the other hand, the reality depends greatly on active and accessible platforms for these tokens.</p>
<p dir="ltr" style="text-align: justify;">Our experience in blockchain development addresses the complexities and uncertainties of STOs.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;is devoted to making the STO process easy and effective, thereby providing projects that are equipped to meet current regulations and technology for future changes.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703899290.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<h2 dir="ltr">Future Outlook&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are set to evolve as the global financial ecosystem becomes digitized, becoming a key mechanism for capital raising and investment across sectors, offering enhanced liquidity and efficiency, including the following aspects:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Regulatory evolution</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Regulation for the development of STOs results from realizing that investors' protection, fairness, and credibility are the crucial points of blockchain technology and digital securities.</p>
<ol style="text-align: justify;" start="2">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Technological Advancements</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">The swiftly burgeoning blockchain technology and security measures take care of STO scalability, transaction speed, and asset management with the advanced compliance mechanisms and asset management introduced by smart contracts.</p>
<ol style="text-align: justify;" start="3">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Sectoral Expansion</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">STOs were implemented in such sectors as infrastructure, renewable energy, and ownership of intellectual property. Tokenization was used to raise capital, and small investors could diversify their investments through their participation.</p>
<p dir="ltr" style="text-align: justify;">Agilie disrupts clients&rsquo; services by introducing new sectors and investment opportunities to STOs that work best with them.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" 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/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703245067.png" width="100%" height="100%" /><span class="incut--text">Our experience and passion create successful projects. Learn more about them.&nbsp;</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are a new significant step in digital finance, thanks to a combination of blockchain technology and regulatory compliance. Investors gain from global capital access, increased liquidity availability, transparency, and investment democratization. Nevertheless, they need help with regulatory uncertainties, market competitiveness, investor accreditation restrictions, compliance costs, technological risks, and the absence of a secondary market. The delicate balance between innovation and regulation in the world of finance is very important because STOs can change the world of investment.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Agilie, a leading company specializing in blockchain software development, shapes the future of digital finance.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703364700.png" width="100%" height="100%" /><span class="incut--text">Contact us and transform the digital finance future.</span></a></p>
<p>&nbsp;</p>

<p>Explore the pros and cons of Security Token Offerings (STOs) and how this innovative fundraising method shapes the future.</p>

Explore the pros and cons of Security Token Offerings (STOs) and how this innovative fundraising method shapes the future.

The Pros and Cons of STO

<p dir="ltr" style="text-align: justify;">The blockchain technology was initially developed for Bitcoin transactions as a secure method. Today, blockchain is considered the fundamental of modern business inventions. It is a peer-to-peer system that utterly reverses the formal financial structure and thus reshapes the entire digital world. Acquire strategic instructions and tips on how to tackle the mentioned challenges and discover other opportunities waiting within this article.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Blockchain technology has been developed from being the origin of Bitcoin to encompassing business applications after Ethereum with the ability to build decentralized applications and the surge of Decentralized Finance (DeFi).

Developing Blockchain trends involves interoperability, IoT and AI integration, mobile banking, NFTs, and BaaS.

Overcoming the blockchain challenges and navigating the complex regulatory landscape is indispensable for widespread adoption.">
<div class="form-description-title">Key Takeaways</div>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Blockchain technology has been developed from being the origin of Bitcoin to encompassing business applications after Ethereum with the ability to build decentralized applications and the surge of Decentralized Finance (DeFi).</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Developing Blockchain trends involves interoperability, IoT and AI integration, mobile banking, NFTs, and BaaS.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Overcoming the blockchain challenges and navigating the complex regulatory landscape is indispensable for widespread adoption.</p>
</li>
</ul>
<span id="docs-internal-guid-bfb7e9f3-7fff-ae4b-af27-0a4167dceed0"></span></div>
<h2 dir="ltr" style="text-align: justify;"><strong>Blockchain's Inception with Bitcoin&nbsp;</strong>&nbsp;&nbsp;&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">W. Scott Stornetta and Stuart Haber, pioneering cryptographers in the early 1990s, introduced secure digital time-stamping and chain linking, laying the foundation for blockchain technology.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">But only in 2008, that blockchain technology become accessible to everyone, when a person or group of people under the pseudonym Satoshi Nakamoto, improved it to become a public document containing secure and transparent transactions. Thanks to its creative architecture, the central authority has become unnecessary. This innovative option took the form of money and laid down the necessary steps for other applications far beyond digital currencies.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Expansion Beyond Bitcoin&nbsp;</strong>&nbsp;&nbsp;&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">The real transformation happened when Ethereum approached, and blockchain technology was no longer limited to Bitcoin transactions. The implementation of smart contracts has greatly contributed to the development of DApps across many sectors. Such a type of self-executing contract located on the blockchain directly creates an option to have automatic, transparent, and safe transactions without intermediaries. The effects of this technology are far-reaching with DeFi, tokenization, and smart contract-based governance models emerging which will lead to the considerable diminution of dependencies on intermediaries and central authorities. This innovation thus showcases the broad applicability of blockchains, facilitating major industries' revolution by increasing efficiency, security, and trust.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154144135.png" width="100%" height="100%" /><span class="incut--text">Find out how businesses derive benefits from blockchain development in our article.&nbsp;</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>The Rise of DeFi</strong></h2>
<p dir="ltr" style="text-align: justify;">Blockchain is the technology transforming the financial space by introducing the concept of Decentralized Finance (DeFi). One of the advantages of the decentralized finance systems based upon blockchain technology for the participants is that it eliminates the need for traditional financing intermediaries and presents a quiet set of financial services directly between the parties like lending, borrowing, and trading the assets. The invention of this technology improves the efficiency, safety, and democratization of financial services through a cost-effective channel.</p>
<h3 dir="ltr" style="text-align: justify;">Supply Chain Enhancement</h3>
<p dir="ltr" style="text-align: justify;">Blockchain has brought in an unimaginable level of transparency and efficiency in supply chain management. Through the immutable storing of each transaction or product movement on a distributed ledger, the stakeholders are enabled to track the movement of goods from origin to consumer. The Hyperledger project, an open-source initiative managed by the Linux Foundation, combines cross-sectoral and cross-functional contributions to improve blockchain frameworks and tools. Its goal is to facilitate the collaborative technology adoption of distributed registers based on blockchain technology.</p>
<p dir="ltr" style="text-align: justify;"><strong>For example:</strong>&nbsp;In trade finance, the blockchain enables all parties (buyers, suppliers, and logistics providers) to access the same real-time data on the status and ownership of goods, and this makes it possible to streamline the verification process and remove the risk of fraud. Financial services such as lending, payments, and insurance in the supply chain are more secure, fast, and reliable.</p>
<h3 dir="ltr" style="text-align: justify;">Identity Verification</h3>
<p dir="ltr" style="text-align: justify;">The importance of blockchain in creating a secure environment for digital identities cannot be overstated. Through a decentralized process of identity confirmation, people have more power and privacy over their personal information. Thus, such a mechanism helps to contain the risk of identity theft and fraud by providing a way for the approval or rejection of identities in a protected manner.</p>
<p dir="ltr" style="text-align: justify;">Agilie applies profound technical proficiency in blockchain to develop innovative products and services.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154220943.png" width="100%" height="100%" /><span class="incut--text">Find out more about Agilie's blockchain software development services.&nbsp;</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Key Trends and Potentials in Blockchain</strong></h2>
<p dir="ltr" style="text-align: justify;">Soon, it is envisaged to have ever-growing blockchain technology utilization since it has proved its capability to work together with other technology innovations and its increasing application across multiple industries.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154356799.png" /></p>
<h3 dir="ltr" style="text-align: justify;">1. Interoperability and Cross-Chain Solutions</h3>
<p dir="ltr" style="text-align: justify;">Through the initiatives in interoperability, the broad utility of the blockchain is being improved by facilitating quick interactions among different platforms leading to the enhanced efficiency of the different applications.</p>
<h3 dir="ltr" style="text-align: justify;">2. Blockchain and IoT Integration</h3>
<p dir="ltr" style="text-align: justify;">The conjunction of blockchain technology with the&nbsp;<a href="https://agilie.com/blog/how-the-internet-of-things-iot-can-boost-your-business" target="_blank" rel="noopener">Internet of Things</a>&nbsp;(IoT) provides smart devices with security, privacy, and reliability, which facilitates automated, clear, and self-governing IoT solutions.</p>
<h3 dir="ltr" style="text-align: justify;">3. Blockchain and AI Convergence</h3>
<p dir="ltr" style="text-align: justify;">Blockchain and AI technologies are an unbeatable pairing in terms of data processing and analyzing, putting trust and transparency first, and making blockchain smart contracts more effective with AI.</p>
<h3 dir="ltr" style="text-align: justify;">4. Enhanced Mobile Banking and Payments</h3>
<p dir="ltr" style="text-align: justify;">Blockchain is fanning the mobile banking and&nbsp;<a href="https://agilie.com/blog/blockchain-payments" target="_blank" rel="noopener">payments revolution</a>, and offering a superior choice, which is faster, safer, and more cost-effective whilst eliminating reliance on intermediaries, mostly in underprivileged areas.</p>
<h3 dir="ltr" style="text-align: justify;">5. The Rise of NFTs</h3>
<p dir="ltr" style="text-align: justify;">Non-fungible tokens (<a href="https://agilie.com/blog/ultimate-guide-on-how-to-create-an-nft-marketplace" target="_blank" rel="noopener">NFTs</a>) are an innovative application of blockchain technology. They solve the problem of identification of unique digital assets' ownership and open up new horizons for asset management and tracking.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154452180.png" width="100%" height="100%" /><span class="incut--text">Explore Agilie's fascinating projects of developing a crypto wallet, a multi-digital wallet, an NFT-based app, and other successful stories.</span></a></p>
<h3 dir="ltr" style="text-align: justify;">6. Blockchain-as-a-Service (BaaS)</h3>
<p dir="ltr" style="text-align: justify;">BaaS is a popular model that allows companies to take advantage of blockchain technology without developing their infrastructure. The model provides users with a low-cost, flexible, and scalable solution for the implementation of custom applications and smart contracts.</p>
<p dir="ltr" style="text-align: justify;">Big tech players such as Google and Microsoft help to create the blockchain ecosystem through cloud-based blockchain-as-a-service (Baas) platforms.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Challenges of Blockchain</strong></h2>
<p dir="ltr" style="text-align: justify;">Blockchain technology is one of the most important tools nowadays which is developing and improving its status through different implementations and applications. This comes with its share of hurdles that must be overcome for the technology to become mass-adopted. So let's take a look at the roots of the problems.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154476566.png" /></p>
<h3 dir="ltr" style="text-align: justify;">1. Scalability&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">Blockchain technology has a scalability problem that may slow down its operation speed and transaction volume. For example, we can use parallelization solutions such as sharding or another consensus protocol to improve scalability while maintaining security and decentralization.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">2. Regulatory Hurdles&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">Blockchain and cryptocurrencies require a complex regulatory approach, where preserving the right proportion of innovation and security, privacy, and meeting regulatory requirements should be balanced adequately within the jurisdictions.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">3. Energy Consumption</h3>
<p dir="ltr" style="text-align: justify;">The energy-intensive aspect of blockchain, especially in the proof-of-work (PoW) consensus protocol, raises questions about its sustainability. A key factor for reducing environmental impact will be the transition to the energy-efficient Proof of Stake (PoS). Algorithms like SHA-256 in Bitcoin or the upcoming use of PoS in Ethereum 2.0 ensure the security, integrity, and efficiency of the blockchain network.</p>
<h3 dir="ltr" style="text-align: justify;">4. Interoperability</h3>
<p dir="ltr" style="text-align: justify;">Interoperability makes possible the transmission of data and the sharing of information among different blockchains. That ensures an unbreakable blockchain network and cross-platform transactions.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">5. Security and data privacy concerns</h3>
<p dir="ltr" style="text-align: justify;">Blockchain security does not only give us benefits, but it also has code vulnerabilities, attacks, and smart contract exploits among its ledger threats. The privacy issues that are raised are data encryption and misuse. Companies require strong encryption and privacy technologies to successfully overcome this challenge. For example, RSA encryption is a critical sort of cryptography that contributes to the security of blockchain networks. It ensures that data is delivered securely, transactions are safe, and user privacy is protected through transaction verification and secure information transmission.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154541590.png" width="100%" height="100%" /><span class="incut--text">Learn more about secure smart contact design to provide the best cybersecurity solutions for each blockchain project.</span></a></p>
<h3 dir="ltr">6. User acceptability and understanding&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">Instruction problems, user-friendliness, and ignorance are stumbling blocks that blockchain technologies are facing at present. Experience-making, positive user interface upgrades, and providing enlightenment can help achieve blockchain implementation. The cooperation of the developers, the industry management, the legislators, and the society usually does the primary process of dimension. Nevertheless, the spread of blockchain will require the implementation of technology, a revamp of the governance systems, and the deployment of education programs.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Blockchain Regulations</strong></h2>
<p dir="ltr" style="text-align: justify;">Government authorities and multinational regulatory institutions find it challenging to develop regulations that can govern blockchain, the corresponding applications, cryptocurrency, digital assets, and decentralized platforms to ensure data security and consumer protection while maintaining growth and innovation.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154569725.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF)<strong>&nbsp;</strong></h3>
<p dir="ltr" style="text-align: justify;">Regulations focus on implementing AML/CTF practices within the blockchain applications related to crypto exchanges and wallet providers. This step includes the Know Your Customer (KYC) procedures to stop illicit activities.</p>
<h3 dir="ltr" style="text-align: justify;">Securities and Trading&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">Most jurisdictions have taken responsibility for categorizing digital assets under securities law. Such named categorization affects the rules for ICOs, token sales, and digital assets exchange, including registration and disclosure obligations.</p>
<h3 dir="ltr" style="text-align: justify;">Data Privacy and Protection</h3>
<p dir="ltr" style="text-align: justify;">The reality of blockchain only intensifies questions of data privacy and compliance by regulation of the Securities and Exchange Commission (<a href="https://www.sec.gov/" target="_blank" rel="noopener">SEC</a>), Commodity Futures Trading Commission (<a href="https://www.cftc.gov/" target="_blank" rel="noopener">CFTC</a>), the European General Data Protection Regulation (<a href="https://gdpr-info.eu/" target="_blank" rel="noopener">GDPR</a>), etc. The immutable feature of blockchain represents a unique barrier to the implementation of "the right to be forgotten" - the fundamental privacy principle behind such regulations.</p>
<h3 dir="ltr" style="text-align: justify;">Taxation</h3>
<p dir="ltr" style="text-align: justify;">The taxation of cryptocurrencies and blockchain transactions is another primary target for the authorities, who are now trying to clarify tax obligations for capital gains, income, and transactions that involve cryptocurrencies.</p>
<h3 dir="ltr" style="text-align: justify;">Consumer Protection</h3>
<p dir="ltr" style="text-align: justify;">Making the users protect them from fraud, scams, and other malicious practices within the blockchain sector is a must. The regulating bodies make tight rules for project developers and service providers to boost transparency and security for the consumers.</p>
<p dir="ltr" style="text-align: justify;">The developing regulatory framework of blockchain on the global scale is fragmented and some countries adopt open and welcoming stances towards blockchain innovations, whereas others are cautious or restrictive. Nevertheless, global cooperation is becoming a reality to set in place transnational regulatory standards.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Conclusion&nbsp;</strong></h2>
<p dir="ltr" style="text-align: justify;">Blockchain has transformed from a mechanism to perform secure financial transactions to a fundamental change in technology business innovation. It transforms financial systems, administration, and various confirmations. However, the problems of scaling up, excessive energy use, and regulatory issues still stand in the way of sustainable development. Agilie, as an experienced blockchain software company, will come up with strategic recommendations, technical assistance, and all the details for businesses to overcome and comprehend the complexities of blockchain implementation.</p>
<p dir="ltr"><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/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1712154675499.png" width="100%" height="100%" /><span class="incut--text">Contact us to leverage the full potential of blockchain technology that will help to grow, save resources, and become competitive in the digital world with Agilie.</span></a></p>

<p><span style="text-align: justify;">Explore the transformative journey of blockchain technology, and uncover key trends, challenges, and regulations aspects of business growth with Agilie.</span></p>

Explore the transformative journey of blockchain technology, and uncover key trends, challenges, and regulations aspects of business growth with Agilie.

The Evolution of Blockchain: From Bitcoin to Business Applications

<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<div id="form-description" class="form-description" style="text-align: justify;" data-title="Key Takeaways">
<div class="form-description-title">Key Takeaways</div>
<div>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">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.</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Agilie&rsquo;s priority areas are scalability, innovation, security, and user-centric approach.</p>
</li>
</ul>
</div>
</div>
<p dir="ltr" style="text-align: justify;"><img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713273688068.png" /></p>
<p dir="ltr" style="text-align: justify;"><span style="font-size: 10pt;">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></span></p>
<p dir="ltr" style="text-align: justify;">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;</p>
<h2 dir="ltr" style="text-align: justify;">Step 1: Discovery Phase</h2>
<h3 dir="ltr" style="text-align: justify;">Idea Validation</h3>
<p dir="ltr" style="text-align: justify;">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;</p>
<h3 dir="ltr" style="text-align: justify;">Requirements Gathering</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713266850571.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Wireframe Design</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">Architecture Concept Building</h3>
<p dir="ltr" style="text-align: justify;">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:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">cloud environment,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">API-first designs,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">data security and compliance layer,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">data management, and analysis,&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">scalability, and fault tolerance.</p>
</li>
</ul>
<h3 dir="ltr">Estimation</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713266939666.png" /></p>
<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>
<p dir="ltr" style="text-align: justify;">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:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">to validate the core banking functionalities,</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">to gauge user engagement and feedback,</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">to test the value proposition.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713266961603.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Full-featured Platform</h3>
<p dir="ltr" style="text-align: justify;">Our development process for building a full-featured platform is comprehensive, encompassing the integration of sophisticated financial tools and services such as</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">multi-currency accounts,</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">real-time transaction processing,</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">personalized financial insights,</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">advanced security measures,</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">regulatory compliance management.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">Our dev team employs the latest FinTech innovations, such as:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Implementing blockchain to achieve better security and a more transparent process.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">AI in the framework of personalized banking services.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">We adopt agile development methodology because we can iterate and deploy new features rapidly responding to market changes and customer needs.</p>
<p dir="ltr"><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%" /><span class="incut--text">Find out more about our FinTech software development services.</span></a></p>
<h2 dir="ltr">Step 3: Delivery Phase</h2>
<h3 dir="ltr" style="text-align: justify;">Testing</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">Our testing strategy incorporates:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Performance Testing: We test its performance in peak loads and maintain its reliability under various conditions.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Usability Testing: This enables us to practice UI/UX to produce an interface that is simple, exciting, and adaptable to varying devices and platforms.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713267036870.png" />Deploying</h3>
<p dir="ltr" style="text-align: justify;">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:<br /><br /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr"><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%" /><span class="incut--text">Discover our cases, Agilie's approach, challenges, and solutions of success stories.</span></a></p>
<h2 style="text-align: justify;">Cost Considerations</h2>
<p dir="ltr" style="text-align: justify;">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:</p>
<p dir="ltr" style="text-align: justify;"><strong>1. Technology Infrastructure Development and App Development</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Basic Version: The costs of a simple neobank app with basic features may be in the range of $100,000&ndash;$500,000.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>2. Licensing and Compliance</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Minor Markets: Licensing and compliance costs in smaller or less regulated markets range between $50,000 and $200,000.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>3. Security Measures</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>4. Marketing and Customer Acquisition</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>5. Operational and Administrative Costs</strong></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;"><strong>6. Customer Support Infrastructure</strong></p>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: justify;" role="presentation">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;</p>
</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%" /> <span class="incut--text">Meet our team of experts who will help you implement your projects with the most advanced approaches.</span> </a><br />Summary&nbsp;</h2>
<p><span id="docs-internal-guid-92d7f213-7fff-e25b-5295-67d905b498ff"></span></p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: left;"><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%" /><span class="incut--text">Contact us to make your neobank&rsquo;s idea a reality.</span></a></p>

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

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 

<p dir="ltr" style="text-align: justify;">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.</p>
<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">
<p dir="ltr" style="text-align: left;" role="presentation">The neobanking business attracts more customers and enters new markets with a prediction to get 386.30 million users by 2028.</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">Attention to the latest trends helps offer modern, effective, and secure banking solutions.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Neobanks integrates biometric security technology, AI-based assistance, personalization, and cryptocurrency for secure, user-friendly, and individualized services.&nbsp;</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Neobanking trends</h2>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786619753.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Open Banking</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786641468.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Banking-as-a-Service (BaaS)</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786680811.png" /></p>
<h3 dir="ltr" style="text-align: justify;">AI-powered Assistance</h3>
<p dir="ltr" style="text-align: justify;">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;</p>
<p dir="ltr" style="text-align: justify;"><strong>For example:</strong>&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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p><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%" /><span class="incut--text">Learn more about AI and ML solutions in fintech.&nbsp;</span></a></p>
<h3 dir="ltr" style="text-align: justify;">Hyper-personalization</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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;</p>
<p dir="ltr" style="text-align: justify;"><strong>For example:</strong>&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.</p>
<p><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%" /><span class="incut--text">Learn more about Agilie&rsquo;s development process of a multi-digital wallet app.</span></a></p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713786928262.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Crypto Integration</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><strong>Cryptocurrency Trading:</strong>&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.</p>
<p><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%" /><span class="incut--text">Discover how to develop a successful neobank in 2024.&nbsp;</span></a></p>
<p dir="ltr" style="text-align: justify;"><strong>Cryptocurrency Investment:</strong>&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.</p>
<p dir="ltr" style="text-align: justify;"><strong>Secure Storage Solutions:</strong>&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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p><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%" /><span class="incut--text">Learn more about Agilie&rsquo;s fintech software development services.&nbsp;</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p><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%" /><span class="incut--text">Contact us and make your idea a skyrocketing reality. </span></a></p>

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

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

Neobanking Trends 2024

<p dir="ltr" style="text-align: justify;">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.</p>
<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">
<p dir="ltr" style="text-align: left;" role="presentation">Digital banking has many challenges, such as cybersecurity, technical advancements, compliance, interoperability, and intense competitiveness.</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">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.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">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.</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;">Cybersecurity and Fraud Risks and Prevention in Digital Banking</h2>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948222726.png" /></p>
<h3 dir="ltr" style="text-align: justify;">1. Phishing Attacks and Spoofing</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">2. Malware and Ransomware</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">3. Data Breaches and Insider Threats</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">4. API Security Vulnerabilities</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">5. Third-Party Services</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<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%" /><span class="incut--text">Find out how to develop a secure and successful neobank in 2024.</span></a></h2>
<h2 dir="ltr">Most Common Digital Banking Challenges</h2>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948333689.png" /></p>
<h3 dir="ltr" style="text-align: justify;">1. Legacy Systems Compatibility</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">2. Data Synchronization and Real-Time Processing</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">3. Regulatory Compliance</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">4. Security Protocols</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<h3 dir="ltr" style="text-align: justify;">5. User Experience Consistency</h3>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr"><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%" /><span class="incut--text">Learn more about neobanking trends in 2024.</span></a></p>
<h2 dir="ltr">Competition in the Digital Banking Space</h2>
<p dir="ltr" style="text-align: justify;">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;</p>
<p dir="ltr" style="text-align: justify;">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;</p>
<p dir="ltr"><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%" /><span class="incut--text">Learn more about Agilie&rsquo;s cases and introduce our diverse innovative solutions.&nbsp;</span></a></p>
<p dir="ltr">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;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1713948458579.png" /></p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr"><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%" /><span class="incut--text">Discover our fintech software development services to create a skyrocketing neobank.&nbsp;</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr" style="text-align: justify;">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.</p>
<p dir="ltr"><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%" /><span class="incut--text">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.</span></a></p>

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

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