Steps to Create an App Like Brigit: A Leading Credit App

Last updated on October 16th, 2024

The development of Brigit, a top-rated lending and credit-building application, has revolutionized the financial industry by providing users with fast and safe access to funds. Launched with the mission of democratizing financial stability, this app has gained popularity due to its user-friendly interface, advanced features, and strict security measures that ensure user data is protected. Brigit not only offers personalized financial advice but also proactively alerts users about potential overdrafts, helping them to avoid unnecessary fees that can accumulate quickly.

Additionally, the application provides robust tools for budgeting and monitoring credit scores, making financial management more accessible to everyone, regardless of their financial literacy level. Brigit’s interface is designed to be intuitive, allowing users to navigate through various features with ease and confidence. The app’s algorithms analyze spending habits and offer tailored suggestions to improve financial health.

Moreover, Brigit has an educational component, offering resources and tips on managing money better, understanding credit reports, and planning for future financial goals. Through its comprehensive suite of services, Brigit has empowered countless individuals to take control of their financial health and build a more secure future. The app has been particularly beneficial for those living paycheck to paycheck, providing a financial cushion and peace of mind in times of need. By fostering financial literacy and offering practical tools for everyday use, Brigit stands out as a transformative solution in the financial technology landscape.

What Is a Brigit App?

A Brigit app refers to a mobile application that offers comprehensive financial management services to its users. It is designed with the mission of democratizing financial stability by providing easy access to a suite of personalized financial tools. These tools include financial advice tailored to individual needs, budgeting tools to help manage expenses, credit monitoring to keep track of credit scores, and educational resources to enhance financial literacy. The app has gained popularity for its user-friendly interface, which makes it accessible even to those who aren’t tech-savvy. Additionally, it boasts advanced features that cater to a wide range of financial needs and employs strict security measures to protect users’ sensitive information. With a growing user base, Brigit continues to be a valuable resource for anyone looking to achieve greater financial stability and knowledge.

Market Stats of Brigit App

The Brigit app has shown impressive growth since its launch in 2017, with more than a million downloads and an ever-increasing user base. Its popularity is evident from the fact that it has been consistently ranked among the top financial management apps on both Google Play Store and Apple App Store. The app has garnered rave reviews from users for its effectiveness in helping them manage their finances and achieve their financial goals.

• Launched in 2017, quickly gaining traction in the market due to its user-friendly interface and innovative features.
• Over 1 million downloads to date, showcasing its popularity and widespread acceptance among users.
• Consistently ranked among the top financial management apps on Google Play Store and Apple App Store, a testament to its reliability and effectiveness.
• Highly rated with positive user reviews highlighting its effectiveness in helping users manage their finances efficiently.
• Increased user engagement and retention rates year over year, indicating that users find long-term value in the app.
• Expanded feature set to meet diverse financial needs, including budgeting tools, expense tracking, and investment management.
• Strong presence in the US market, with plans for international expansion to bring its benefits to users around the globe.

Also Read: What is FinTech and Why is it Important?

Top 5 Fintech Apps Like Brigit

While Brigit is a popular choice for those looking to manage their finances, there are several other fintech apps that offer similar features and benefits. Here are the top 5 alternatives to Brigit:

1. EarnIn

EarnIn is a popular app that allows users to access their paycheck early, helping them avoid overdraft fees and high-interest loans. It also offers tools for budgeting and expense tracking, making it easier for users to manage their finances. With EarnIn, you can track your work hours, cash out a portion of your earnings before payday, and stay on top of your spending. This can be particularly beneficial for those living paycheck to paycheck, providing a financial buffer and peace of mind.

2. Stash

Stash is an investment app that allows users to invest in fractional shares of stocks and ETFs with as little as $5. It also offers budgeting tools and a savings account with a competitive interest rate. With Stash, you can build a personalized investment portfolio based on your financial goals and risk tolerance. This app is great for those looking to dip their toes into the world of investing without committing large sums of money.

3. EveryDollar

EveryDollar is a budgeting app that follows the zero-based budgeting method, where every dollar you earn is assigned a specific purpose. It also offers bill tracking and expense categorization features to help users stay on top of their finances. With EveryDollar, you can create and stick to a monthly budget, track your expenses in real-time, and identify areas where you may be overspending.

4. Myfawry

Myfawry is a finance app that offers a variety of features, including bill payments, budgeting tools, and credit score monitoring. It also allows users to link multiple bank accounts and credit cards for a comprehensive view of their finances. With Myfawry, you can pay bills directly from the app, set up automatic payments, and receive alerts for upcoming due dates.

5. Empower

Empower is a financial planning app that combines budgeting, investing, and bill management features. It also offers a high-yield checking account with no monthly fees or minimum balance requirements. With Empower, you can track your spending habits, invest in diversified ETF portfolios, and even negotiate lower bills on your behalf.

7 Key Steps To Build an App Like Brigit

1. Conduct Market Research

Before developing an app like Brigit, it is important to conduct thorough market research. This will help you understand the target audience, their needs and preferences, and any potential competitors in the market. Market research involves gathering and analyzing data from various sources, such as surveys, focus groups, interviews, and existing market reports. By doing this, you can identify market gaps, trends, and customer pain points, which will allow you to tailor your app’s features and functionalities to better meet user demands. Additionally, understanding the competitive landscape will enable you to differentiate your app and position it effectively in the market.

For example, conducting surveys can provide quantitative data on user preferences and behaviors, while focus groups and interviews can offer deeper qualitative insights into user experiences and expectations. Analyzing existing market reports can reveal industry trends and competitive strategies that may influence your app development process.

2. Choose the Right Tech Stack

The next step is to choose the right tech stack for your app. A tech stack refers to a combination of programming languages, frameworks, and tools used to develop software applications. Choosing the right tech stack can greatly impact the performance, scalability, and maintenance of your app. For an app like Brigit, you may need to consider using technologies such as React Native for cross-platform compatibility, Python or Java for back-end development, and SQL or NoSQL databases for data storage. It is important to carefully evaluate each technology based on its capabilities, cost-effectiveness, and support community before making a decision.

3. UI/UX Design

Creating a user-friendly and visually appealing interface is crucial for the success of your app. This involves designing an intuitive user experience (UX) and a visually appealing user interface (UI). The UX design focuses on the flow of the app, ensuring that it is easy to navigate and understand for users. On the other hand, the UI design deals with the overall look and feel of the app, including color schemes, typography, icons, and layout. When designing Brigit’s UI/UX, consider conducting user testing to gather feedback and make improvements based on real-user interactions.

4. App Development

Once the design is finalized, it’s time to start developing your app. This involves writing code, integrating different components, and testing for bugs and errors. It’s important to follow coding best practices and use efficient development methodologies such as Agile or Scrum to ensure a smooth and timely development process. Collaborating with designers, developers, and quality assurance (QA) testers can also help improve the overall quality of your app.

5. Testing and Quality Assurance

Testing and quality assurance (QA) are crucial stages in the app development process. This involves testing for bugs, errors, and functionality to ensure that the app meets its intended purpose and functions smoothly across different devices and platforms. It’s important to conduct thorough testing throughout the development process and involve QA testers from the beginning to catch any issues early on.

6. Launching and Marketing

Once your app is developed and tested, it’s time to launch it to the public. This involves creating a marketing plan to promote your app and reach potential users. Consider utilizing social media, influencer partnerships, and other digital marketing strategies to create buzz around your app. It’s also important to continuously gather feedback from users after launching and make improvements based on their suggestions.

7. Scale and Maintenance

As your app gains traction and acquires more users, it’s important to continuously monitor and maintain its performance. This may involve scaling up your infrastructure to handle a larger user base, fixing bugs and errors, and regularly updating the app with new features or improvements. It’s also crucial to listen to user feedback and make necessary updates to keep your app relevant and competitive in the market.

Read More: Digital Transformation On Fintech: Benefits, Challenges, and Applications

10 Must-have Features of a Fintech App Like Brigit

1. Signup/ Login

The app should have a user-friendly signup and login process, allowing users to easily create an account and access the features of the app. This process should include clear instructions, minimal required fields to avoid overwhelming users, and options for social media login to streamline account creation. Additionally, ensuring secure authentication methods will build user trust and encourage more frequent use of the app.

2. On-demand Function

The app should have a feature that users can access whenever they need it, such as the ability to transfer money, make payments, or track expenses. This can also include features like requesting loans or setting up automatic savings transfers. Additionally, it would be beneficial to integrate tools for budgeting, real-time spending alerts, and personalized financial advice to help users manage their finances more effectively. By providing a comprehensive suite of financial services, the app can become an essential tool for users looking to achieve their financial goals and maintain better control over their financial health.

3. Options For Repayment

Another essential feature of a fintech app is the ability to repay loans or make payments directly within the app. This should include various options for payment, such as bank transfers, card payments, and digital wallets. Offering a variety of repayment methods can cater to the preferences of different users and make transactions more convenient.

4. Quick Notification

The app should have a comprehensive notification system that alerts users of any important updates or changes to their accounts. For example, users should be notified of new transactions, due dates for payments or loans, and any updates to their account balance. Additionally, notifications could include reminders for upcoming bill payments, alerts for unusual account activity, and updates on financial milestones achieved. This ensures that users stay well-informed about their financial activities, can take necessary actions promptly, and maintain better control over their financial health.

5. Messaging

An in-app messaging feature can be a valuable tool for users to communicate with the app’s support team. This can include sending queries, reporting issues, or requesting assistance with financial management. An active and responsive support team can help users resolve any concerns quickly and effectively, therefore improving their overall experience with the app.

6. Cards (frozen or unfrozen)

In the case of lost or stolen cards, users should have the option to freeze their card directly from the app. This helps prevent unauthorized transactions and gives users time to report the issue without financial implications. Similarly, users can also unfreeze their card through the app once they have located it or received a replacement.

7. Loan Calculator

For users interested in taking out a loan, an integrated loan calculator can be a useful tool to help them understand the terms and costs associated with different loan options. This feature allows users to input their desired loan amount, interest rate, and payment frequency to calculate the total cost of the loan over time. It can also provide an estimated monthly payment amount for budgeting purposes.

8. Credit Score Improvement

Many users may not be aware of how their financial behavior impacts their credit score. A feature that provides personalized tips and recommendations to help improve credit scores can be highly beneficial for users. This feature could include suggestions such as paying bills on time, reducing credit card balances, and monitoring credit reports for errors.

9. Transfer and Withdrawals

Users should have the ability to transfer funds between accounts within the app, as well as make external transfers to other bank accounts. This feature can also include options for setting up recurring transfers and scheduling future transfers. Additionally, users should be able to easily withdraw cash from ATMs using their mobile banking app.

10. Bank Account Analysis

To help users better understand their spending and budgeting habits, a bank account analysis feature can provide detailed reports on their income and expenses. This feature could categorize transactions, track spending trends, and provide insights into where users’ money is going. It can also offer suggestions for budgeting or saving based on the user’s financial habits.

How Much Does It Cost To Build An App Like Brigit?

Below is a table detailing the estimated costs associated with building an app like Brigit. The costs can vary depending on factors such as the complexity of features, development team location, and the technology stack used.

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How Much Does It Cost To Maintain An App Like Brigit?

Maintaining an app like Brigit involves several ongoing costs that ensure the app runs smoothly and efficiently while keeping up with user needs and technological advancements. The maintenance costs can be broadly categorized into several areas:

• Bug Fixes and Performance Improvements: Ensuring the app remains bug-free and performs optimally can require approximately 40-80 hours per month. At an hourly rate of $40, this comes to about $1,600-$3,200 monthly.

• Server and Infrastructure Costs: Depending on the user base and the app’s backend requirements, server costs can range from $1,000 to $5,000 per month. This includes cloud hosting services, databases, and other essential infrastructure.

• Customer Support: Providing timely support to users can require hiring a support team. Monthly costs for customer support can range from $2,000 to $5,000, depending on the team size and support hours.

• Updates and New Features: Regular updates and the addition of new features help keep the app competitive. This might require around 100-200 hours of development time per quarter, translating to $4,000-$8,000 at a $50 hourly rate.

• Security Enhancements: Regular security audits and updates are crucial to protect user data. This can cost around $1,000-$2,000 monthly.

• Other Miscellaneous Costs: These include marketing, legal, and administrative costs, which can add another $1,000-$3,000 monthly.

How Can iTechnolabs Help You to Build an App Like Brigit?

At iTechnolabs, we understand that building and maintaining an app like Brigit requires significant investments. Our team of experienced fintech app developers can help you navigate these costs while providing top-notch solutions to meet your business goals. We offer customized services tailored to suit your specific requirements, ensuring cost-effectiveness without compromising on quality.

Our expertise in developing and maintaining mobile applications enables us to provide efficient bug fixes and performance improvements to keep your app running smoothly. Additionally, our cloud hosting services allow for scalable infrastructure solutions at competitive prices.

• Customized Development Solutions: We offer tailored strategies designed to align perfectly with your specific business requirements. This ensures optimization of both cost and quality, allowing your business to achieve its goals more efficiently and effectively. Our team collaborates closely with you to understand your unique needs and create a bespoke development plan that delivers maximum value.
• Experienced Development Team: Our professional developers bring extensive experience in mobile app development, guaranteeing top-notch code quality and efficiency. Each member of our team is highly skilled and continuously updated with the latest industry trends and technologies, ensuring that your project benefits from cutting-edge expertise.
• Scalable Infrastructure: Our cloud hosting services provide scalable infrastructure solutions that can grow with your app. This means that as your user base expands, you can rely on our services to maintain performance without any compromise. We ensure that your app remains robust and responsive, no matter the increase in demand.
• Regular Updates and Maintenance: To keep your app competitive and functioning smoothly, we offer continuous updates and maintenance services. This includes not just fixing any bugs or issues that arise but also enhancing features and performance over time. Our proactive approach ensures that your app stays ahead in the market.
• Security Enhancements: We conduct regular security audits and updates to protect user data and enhance the overall reliability of your app. Our team prioritizes the implementation of the latest security protocols to safeguard against threats and ensure that your users’ information remains secure.

Are you planning to build an app like Brigit?

Developing a financial wellness app like Brigit requires a partner who can deliver excellence across all facets of app development. From initial concept and design to coding, testing, and ongoing maintenance, each step demands a high level of expertise and dedication to ensure a seamless user experience and robust functionality. Here’s why iTechnolabs stands out as the ideal choice:

• Tailored Financial Solutions: iTechnolabs understands the complexity and sensitivity of financial applications. Our team specializes in developing tailored solutions that meet the unique requirements of financial apps, ensuring robust functionality, secure transactions, and seamless user experience.
• Regulatory Compliance: Financial apps must adhere to stringent regulatory standards. iTechnolabs ensures that your app complies with all relevant regulations, including data protection laws and financial industry standards. Our expertise mitigates compliance risks, providing peace of mind.
• User-Centric Design: The success of mobile financial apps hinges on user experience. iTechnolabs invests heavily in user-centric design, creating intuitive interfaces that simplify financial management for users. Our designs are both aesthetically pleasing and functionally effective, resulting in higher user engagement and satisfaction.
• Advanced Analytics: To thrive in the competitive financial app market, you need insights derived from cutting-edge analytics. iTechnolabs integrates advanced analytics into your app, offering valuable data on user behavior and app performance. This data-driven approach enables you to make informed decisions and continuously improve your service.

Important: How Much Does It Cost to Develop a FinTech App?

Conclusion:

 iTechnolabs is your trusted partner for developing mobile financial apps. Our deep understanding of the financial industry, stringent regulatory compliance, user-centric design, and advanced analytics make us the ideal choice for turning your app idea into a successful reality. Get in touch with our team today to discuss how we can create a customized solution that meets your unique business needs.

Frequently Asked Questions

1. How Much Does It Cost To Build A Fintech App?

The cost of building a fintech app varies depending on the complexity, features required, and the specific technological stack used. At iTechnolabs, we pride ourselves on providing tailored solutions that fit both your budget and unique business needs. Our team of experienced developers works closely with you to ensure every aspect of your vision is realized. Contact us for a customized quote and let us help bring your fintech idea to life.

2. What Time Period Does It Take To Make An App Like Brigit?

The time to develop a fintech app like Brigit depends on various factors such as design complexity, features required, and the technology used. For instance, a simple app with basic features might take a few months, whereas a more intricate app with advanced functionalities could take longer. However, with iTechnolabs’ agile development process and experienced team of developers, we can deliver high-quality apps within an efficient timeline. Our team ensures that all aspects, from user interface design to backend integration, are handled with precision and care. We also provide regular updates and transparent communication throughout the development process. Contact us today to discuss your project requirements and get an estimated timeline for your app. Let’s turn your vision into reality!

3. Why Should Businesses Invest In Fintech App Development?

Investing in fintech app development can provide numerous benefits for businesses, including increased efficiency and cost savings. With a well-designed fintech app, businesses can streamline processes, reduce manual errors, and save time and resources. Fintech apps also offer enhanced security features, ensuring sensitive financial data is protected. Additionally, having a fintech app can help businesses stay competitive in the digital era and attract tech-savvy customers who prefer convenience and accessibility. At iTechnolabs, we understand the importance of staying ahead in the rapidly evolving world of technology.

4. Will The App Development Company Provide Support And Maintenance?

Yes, at iTechnolabs, we offer ongoing support and maintenance services for our clients’ fintech apps. Our team of developers is dedicated to providing timely updates and resolving any technical issues that may arise. We also offer regular maintenance to ensure the app runs smoothly and efficiently, providing a seamless experience for both businesses and their customers. Furthermore, we continually monitor industry trends and advancements to incorporate new features or make necessary changes to the app as needed. With iTechnolabs, you can rest assured that your fintech app will receive the necessary support and maintenance for its success.