Why React Native Is The Best Choice For Fintech App Development?
Tags: reactnative
Published: 2022-07-11 12:55:10

Why is React Native considered the best choice for Fintech app development? 
This is one question that has been most Googled in recent times. Being content writers, we always write about something that has been more discussed, generally because of curiosity and yes, for a good ranking in search engines.

So, here we are today with another blog on fintech. The Fintech industry needs no more introduction. Ever since the financial sector has shaken hands with the IT industry, there has been an immense success.

I mean, the example is us alone. Since the introduction of these fintech apps, we have been doing all our payments online through mobile applications. No matter how small or big the transaction amount is. Payment through cash is an old tradition now.

And being a technical content writer, it is in my habit to always look at the technical aspect of everything.

So, according to you, what makes these applications so user-friendly?
Yes! You made the right guess.

It is the framework and the programming language that go behind these amazing applications.
And the framework or the programming language that makes this thing possible is React Native.

Why React Native? Why React Native for App Development? React Native banking apps. I know, you have all these questions in mind. 
So, let’s answer your questions and dissolve your curiosity.

**About React Native**
In this fast-moving digital world, programmers don’t have much time on their hands. This is because they have multiple tasks to perform in a short period of time. 
In situations like this, if the developers have to develop separate applications of code for iOS and Android apps, things get more troublesome.

That is why frameworks like React Native are used because they have a single code-base for both the iOS and Android platforms.
Using React Native in fintech results in large-scale time and resource savings.

React Native was first put in motion by Facebook as an open-source plan in the year 2015. And it just took a matter of time for it to become one of the prime solutions in the mobile development space.

The React Native framework has been built on React which is a famous Javascript library.

**Advantages of React Native In Fintech App Development**

Giant organizations like Facebook, Instagram, and Airbnb have already accepted this technology for their application development process.  React Native still remains one of the noteworthy frameworks that attracts more and more enterprises and developers.

But, why is React Native so appealing to the entire fintech community?

**One Code For Both iOS and Android**
Mobile application development with the help of React Native has the potential to approach the vast variety of the target audience as React Native uses one code for both the iOS and Android platforms.

FYI, Apple's iOS and Android platforms cover 99 percent of the entire mobile app market. And a correctly written code can be shared from 90-99 percent between both the platforms.

**Ready-to-use Components**
Rather than writing the code from a clean slate, you can speed up your development process by using the ready-to-use components that React Native offers in fintech app development.
 
**Single Team—-- Double Platforms**
Native apps demand two separate development teams, one for Android and one for iOS. Thus, there are chances for the project to become inconsistent. Moreover, RN for fintech apps makes things possible and requires one team to develop an application on both platforms.

**Skilled React Native Developers**
Developing applications with React Native will allow access to a wading pool of talents. The developer community of React Native is gigantic and it continues to grow.

**Chances of Relocation**
One can easily relocate web developers to the React Native environment if the need arises. And they will already have knowledge of building a Fintech app using React Native because it is just a Java script with a pack of components and APIs.

**Harness, Hot Reloading**
Fintech app development with React Native provides one advanced feature: hot reloading. This makes it possible to implement the latest versions and modify the UI without quitting the running application.

**Productivity**
React Native in Fintech will allow you to build native-live applications that perform similar to native-built solutions and offer highly smooth animations.  

**Optimal UX**
Using React Native offers an optimal user experience across both platforms.

**Create Fintech Apps With React Native at Extern Labs**
The introduction of the React Native Framework has revolutionized the way in which mobile app location development is done today.
Decisions are made on what kind of technology should be used for achieving the goal based on different features for accomplishing the desired results.
With this revolutionary approach to mobile development, the built product will be highly flexible, and it is one of the important elements of success.

Many financial organizations choose the RN framework to build their cross-platform solutions.
The total time for app development can vary depending on the intricacy of the project and the type of application. The development cost will also differ from application to application. You can get details about the development cost by [contacting us](https://externlabs.com/contact.php).

We at [Extern Labs](https://externlabs.com/) are well-versed in developing fintech apps using React Native in the shortest possible time. We are here to use our knowledge and experience to help you develop the best product.
If you have finalized the React Native framework for your upcoming Fintech application, then contact our team today to [hire a React Native developer](https://externlabs.com/hire-react-native-developer.php).

We will be more than glad to help you with your future projects and will try to become a part of your success.

**Takeaway**
Acknowledging that the fintech area is very competitive and flexible, there are valid reasons to choose React Native as an option for developing a fintech product.

This RN technology :

- Accelerate the pace of building a consistent application on both the iOS and Android platforms.
- The total expenses of developing an application can be lowered by 30-40 percent in comparison to the cost of building the same product by two teams- iOS and Android.
- There will be only one team, so it will be easier to manage.
- It will give end-users the "native experience."

These reasons, as mentioned above, are enough to persuade you to choose React Native as a perfect technology for fintech app development.

Who knows, this could be the cornerstone of your success in today’s competitive era.