<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-fc7f5dae-7fff-96c4-5cb0-0a8ebb2f437f">Looking for a way to </span>make an app extremely profitable? We advise monetizing apps via advertising. Click here and read all the details!</p>
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Looking for a way to make an app extremely profitable? We advise to monetize apps via advertising ☝ Click here and read about ➐ best app monetization platforms, their pros, and cons!


Top 7 Ad Monetization Platforms for Your Android Mobile App

<p style="text-align: justify;"><span id="docs-internal-guid-f4aaa9ac-7fff-c87a-3367-0e0a47fe43bf">Read this article to learn the latest mobile and </span>online travel industry trends and find out the best travel apps.</p>

If you are thinking about creating a travel-planning app, you should learn all the specials of this very market and find out the latest mobile and online travel industry trends 

Top 5 Ideas in the Travel App Development

<p style="text-align: justify;"><span id="docs-internal-guid-8ceb30c1-7fff-c150-cf71-24aeb2bef15c">A</span> strong brand identity can attract attention to your company and make your profits grow. But how to create it? Read right now!</p>

A strong brand identity is the best way to attract attention to your company and make your profits grow. But maybe you don't know how to build a brand identity? That's okay ☝ Just click the link and read our article. We'll explain the issue by points, for you deserve a successful brand identity✅

How to Create a Full Brand Identity for a Startup Company

<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-8f71c656-7fff-dbb7-96e0-2994acfa752b">Read our article if you want to find out </span>how to brand your business and succeed. You&rsquo;ll know all about building a brand identity.</p>

Do you want to make sure your startup will succeed? Then you need the most effective brand identity design 

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<p style="text-align: justify;"><span id="docs-internal-guid-9771e34c-7fff-5505-49e7-9fcc66f66999">Read our article to figure out a </span>successful onboarding strategy, for it&rsquo;s really essential to the app's fate.</p>

Onboarding experience is essential to the app's fate. A user should have a clue of your application’s benefits and features at once, and a mobile app onboarding strategy is responsible for such instruction ✅ Read our article to figure out successful onboarding techniques➤

Is Your Mobile App Onboarding Screen Done Correctly?

<p style="text-align: justify;"><span id="docs-internal-guid-88a7fd48-7fff-2b46-50bb-b5fe6e243ab8">If you&rsquo;re looking for the right tool to automate your business processes, read our article. You&rsquo;ll find out how to choose the best CRM and</span> ERP solutions.</p>

Looking for the effective tool to automate your business processes? Click here ➤ and read all you need to know! What is ERP software? What system, CRM or ERP, does your company need? How to choose the best one of ERP solutions? You'll find out all these answers right here ✅

CRM vs ERP: What Will Perform Your Tasks

<p style="text-align: justify;"><span id="docs-internal-guid-1231cff2-7fff-09f3-8a0c-cdca77a220db">Do you want to know whether you need to </span>build your own CRM system? Click here and find out the answer!</p>

Do you want to know whether you need a unique customer relationship program? Click here ᐅ and find out the answer! ✅ We'll provide you with useful CRM information, so you'll get the idea of how to build your own CRM system and why you should make this very choice.

Do You Need to Build a Custom CRM System? 

<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">According to Gartner, the market size of the</span> custom CRM solutions will soon exceed $ 40 billion. Such an impressive figure is quite understandable: modern marketing is increasingly seeking to automate all and everything, and therefore successful companies monitor, analyze, and customize different aspects of data processing. Because forward-looking businessmen and investors know that it's difficult to draw the right conclusions and predict results without a reliable data management system. This applies to companies of any type, especially venture capital firms.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Manual data processing is possible only for the time being, and after a certain point, when the number of startups reaches 10-15, XSL tables can no longer satisfy your needs. And it's much more reasonable to</span> implement a customer relationship management (CRM) system and, thus, automate these processes.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">So let's discuss how </span>mainstream CRM systems help VC firms improve their efficiency. Also, we're going to describe the best data analytics strategy and explain how to avoid CRM failures. We hope, you'll find our article useful.</p>
<h2 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What data should be managed?</span></h2>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">A lot of </span>top-tier firms use data and CRM tools, and if you've decided to join the leaders, you should figure out what data management you need.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">We'll tell you what type of information is being usually processed by</span> traditional CRM solutions, and then it's up to you what to choose.</p>
<h3 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Standard CRM offerings</span>:</h3>
<ul dir="ltr">
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">contact management.</span></strong> Contacts may include information about startups' owners, partners, clients, etc.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">startups</span> management.</strong> The feature helps to manage startups: keep track of new projects and check the status of old ones (both abandoned and accepted by your company).</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe"><strong>the deal flow,</strong> </span>which contains everything related to transactions and relationships with startups and partners. The feature is aimed to help you see the history of your interaction with a particular company.</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe"><strong>fundraising and investments.</strong> </span>We&rsquo;re talking about the processing of cash flows. You must clearly understand how much funds you've already allocated and to whom. And future investments should also be tracked.</li>
</ul>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">You can expand the list as you please because </span>effective CRM platforms mean reporting and tracking systems that meet your specific requirements. And you're the only one to know these requirements.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Still don't see why your</span> company needs CRM? We're ready to explain your benefits by points.</p>
<h2 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What CRM benefits do venture capitalists get?</span></h2>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Now we&rsquo;ll try to convince you that getting</span> CRM systems for firms would be a great business decision.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">We&rsquo;re not going to be unfounded, we have arguments in favor of creating </span>market mainstream CRM solutions.</p>
<p style="text-align: center;"><img src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/3892/content_content_crm_2_1.jpg" alt="CRM solution" width="800" height="399" /></p>
<ol>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Reduced costs</span></strong>, which is due to the automation of complex calculations (and other operations of the sort) and the formalization of business processes.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Workflow optimization</span></strong>. Notifications (mail, SMS), reducing the number of unnecessary routine tasks, and simplification of data processing lead to a significant optimization of all activities.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">KPI-based management.</span> </strong>For each process, you can select performance indicators (metrics) and start tracking them with your CRM solution.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Standardization of business processes.</span></strong> The work of the company is being carried out according to a certain scheme incorporated in your mainstream CRM system. This also improves business efficiency.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">A powerful analytical tool, </span></strong>which provides comprehensive information about the current state of affairs in a company in real time.</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe"><strong>Increase in business transparency</strong>.</span> The item in question logically follows from the previous one: with all the data at hand and the possibility of their detailed analysis, the business becomes more transparent (and therefore more trustworthy).</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Better internal communications</span></strong>. Among others, the company leverages a CRM system to store information about each employee, both public data (general contacts, his position, etc.) and confidential information (which is available only to management). Such an approach helps to strengthen the relationship in the teamwork. &nbsp;</li>
</ol>
<h2 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What to consider when </span>choosing a CRM platform</h2>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">You can</span> implement a CRM system by building it from scratch or selecting one of the ready-made solutions. The second option isn&rsquo;t the most perfect, but it'll do if you have a limited budget or think that creating new CRM software for client management would take too much time.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Anyway, we strongly recommend that you take into account a few factors when </span>choosing a CRM platform.</p>
<h3 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Data storage security</span></h3>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Custom CRM solutions </span>involve working with data, which means that there is a risk of losing the information, stealing it (in the case of hacker attacks), and other similar problems.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What could be done to improve data security? We&rsquo;ll give a few examples of appropriate measures:</span></p>
<ol dir="ltr">
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Encoding data</span></strong>. Each transmission must be secure and encrypted. The step is obvious but inevitable.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Immune to hacker attacks</span></strong>. Again, such a security measure seems rather traditional, plain as a pikestaff, but logical at the same time.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">The use of several centers to store the data</span>.</strong> Then you shouldn't be afraid of failures in the work of any of the centers. In the end, there are also others to keep your information stored.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">User security</span></strong>. Multiple measures should be provided to secure the processing of user data, including multi-stage authentication, limited access to information, session time, etc.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Updates</span>.</strong> And, of course, the security system must constantly evolve and improve.</li>
</ol>
<h3 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">The problem of finding the perfect ready-made </span>data management system</h3>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">We guess everyone knows </span>how to use CRM systems but what about finding the best one? Is it an easy task?</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Of course not, because you need to choose the best one of the ready-made</span> web-based management systems - the perfect tool which your whole company is going to use. So, you may encounter a couple of difficulties, such as:</p>
<ol dir="ltr">
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Each project (as well as every venture capital firm) is unique, and the </span>mainstream CRM system you've found is universal. You'll have to create a data management solution in accordance with your specific custom CRM requirements in order to be fully satisfied with the result.</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Sometimes it's difficult to meet the needs of all departments with a single software. In order to make sure everyone is satisfied, you should test the selected tool, compare it with other solutions, and take other similar steps. Otherwise, by choosing a system without such measures and disregarding the opinion of future product users, you just waste your time and money.</span></li>
</ol>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">In general, the difficulties we&rsquo;ve described lead us to the next item, namely&hellip; &nbsp;</span></p>
<h3 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Customization of ready-made </span>CRM systems for firms</h3>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">If you decide to take advantage of one of the existing </span>CRM systems for firms, then, sooner or later, you'll have to customize the chosen tool and adjust it to your needs. Of course, you're unlikely to cope with the task on your own; you'll probably have to hire the following experts:</p>
<ul dir="ltr">
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">backend and frontend developers</span>. They'll be able to expand or customize the functionality of your mainstream CRM system, set up a dashboard, integrate new tools, and perform other similar tasks;</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">UI/UX designer</span> to help you redesign your data management platform and make it more intuitive and easy to use. Also, your company needs CRM which would fit into your corporate style.</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">QA team</span> to ensure the error-free operation of web-based management systems. Without these experts, you won't manage to succeed either!</li>
</ul>
<h4 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Additional points worth considering:</span></h4>
<ul dir="ltr">
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">access to API</span>. If the CRM provider doesn't care to give you a free API, customization can become a difficult task;</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">server data output format</span>. The fact is that not all systems provide data in the convenient JSON format, and then it won&rsquo;t be easy to make any changes later;</li>
<li style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">the programming language, in which CRM has been written. </span>Such a parameter affects the issue of finding the right specialists. You must make sure the developers you hire are versed in this language.</li>
</ul>
<p style="text-align: center;"><img src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/3891/content_content_crm_3_1.jpg" alt="mainstream CRM system" width="800" height="523" /></p>
<h2 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">How to select the best </span>mainstream CRM system</h2>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">So, you intend to select a ready-made</span> CRM solution (or create one from scratch). But what to consider in the process of choosing a particular system (or drawing a list of requirements)? To figure out what to look for (or what task to delegate to the developer), answer the questions below.</p>
<ol dir="ltr">
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What is the list of features you want to get?</span></strong> All the CRM systems for firms are somewhat similar, but there are also nuances, of course. Say, the owner of the online shop wants to have a possibility to monitor buyers, and the representative of the venture capital fund should keep track of startups.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">How much time do you have to</span> implement the CRM system you need?</strong> You won't manage to create data management software too quickly (especially when talking about developing from scratch). Customization of the existing tools may take some time either. These factors must also be borne in mind.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What about pricing?</span></strong><em> </em>There are free ready-made solutions as well as paid ones. Of course, the latter offer more advanced and flexible functionality. Determine your budget and think about how much you can allocate to implement a customer relationship management (CRM) system.</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What is the size of your venture capital firm?</span></strong><em> </em>The larger the company, the more advanced your mainstream CRM system should be. In addition, be sure to consider the project scaling factor: perhaps, you're planning to expand your company in the future?</li>
<li style="text-align: justify;"><strong><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">What are you using now for </span>data management? </strong>Maybe, you already have an effective CRM platform, and you just want to add new features to it? Otherwise, if you're unhappy with the existing tool, then, of course, the best option is to abandon the old version in favor of the new one.</li>
</ol>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">To get a </span>successful CRM, you need to clearly understand your expectations. Do enough preparation, and only then proceed to the project implementation.</p>
<h2 dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">Summary</span></h2>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">We'd like to believe we've convinced you of the importance of competent </span>data management, and now you understand how to leverage data and CRM systems to your benefit - so that it would lead to the company's growth and increasing business efficiency.</p>
<p style="text-align: justify;"><span id="docs-internal-guid-c310c669-7fff-8d70-99ab-ced084d03dbe">If you have questions left or need expert advice on the</span> data analytics strategy, you're welcome to <a href="https://agilie.com/contacts" target="_blank" rel="noopener">contact us</a>!</p>
<p style="text-align: justify;">&nbsp;</p>

<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-8193367b-7fff-3817-0e43-c62933cc56b7">Every venture capital firm should find a reliable</span> CRM solution. So click here and read all the details of choosing a CRM platform your VC company needs.</p>

Every venture capital firm should find a reliable CRM solution ⚡ But how to select the most effective data management system? We have the answer! Click here ⇉ and read all the details of choosing a CRM platform your VC company needs!

Why Every Venture Capital Firm Needs a CRM Software and How to Select It

<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;">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;">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;">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.

Risks and Challenges Awaiting Digital Banking Projects Now

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

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

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

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

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