Mobile app development entails more than just crafting an attractive and simple user interface (UI) for established customers; it involves designing a secure app that uses very little RAM yet is compatible with different devices. A particularly well-developed app should also be capable of scaling to meet customer demand as your company grows.
Banks, credit unions, credit card companies, insurance companies, stock brokerages, investment funds, and more must report their activities to government regulatory agencies. Following financial crises in the late 2000s, regulatory compliance has become stricter and more onerous on financial services companies like those listed above.
From the stricter need for reporting and the massive amounts of data generated by financial institutions, the regtech industry has sprung up, combining regulatory reporting and big data technology.