DEV Community: Aun Suhel

Why it is Crucial to make Financial Services Resilient

Aun Suhel — Wed, 27 Apr 2022 12:15:04 +0000

In the pandemic era, resilience has become one of the defining characteristics of the financial domain. It has come to the forefront on both people and operational ends. While on one hand, the sector has started focusing on their manpower wellbeing, on the other hand, it has started moving towards digital transformation for operational resilience.

If after reading the reasons below, you understand that you need services of a fintech app developer, you are on the right track.

Why is Fintech Resilience Necessary?

Fulfill regulatory requirements
Because of the rising complexities of the financial systems, financial regulators have laid out the importance of nation-wide regulations. The government-level regulators evaluate the operational resilience of a fintech firm in a holistic manner led by the technological and market changes.

Prepare for security threats
With growing dependence on third party service providers and digital tools, fintech business exposure to security attacks has increased the need for the sector to prepare for security issues. Compared to other types of risks, cyberattacks are a lot more difficult to find and eliminate until a resilience engineering system is created.

Eliminate the risks of outages
When resilience is not kept on priority, core business elements become vulnerable to cyberattacks, pandemics, and geo-political environments. By creating resilience, fintechs get visibility of processes and crucial assets, which prepares them for instances of outages of fintech processes or services.

Process for Making Resilient Fintech Products

Maintaining and continuously improving fintech resilience is the need of the hour for the industry to establish trust with the customers and the regulators. Ensuring this requires them to follow a set framework of processes.

Reporting. Efficient reporting of the KRIs and KPIs is the key to taking strategized resilience decisions.
Testing. Frequent audits and testing should be performed to assess and reassess the business’s resilience capabilities.
Technology. The technology stack must be kept up to update to prevent the fintech products against any cyber threats or lags arising because of out-of-support technology.
Tolerance. The impact tolerances should be reviewed consistently as the business strategies modify, the customer expectation changes, technologies advance, and the regulations evolve.
Third parties. Resilience must be taken up as an ongoing check for every third-party contracts. Ensuring resilience goes further than checking the internal organizations and extends across every party that the business interacts with.
Change programs. The resilience criteria should be checked before the IT or business process programs are changed and are allowed to proceed.
Communication. Efficient external and internal communication lines should be maintained. The intent at every stage of resilience must be to lower any resilience specific backlog over time.
Disaster recovery. Disaster recovery plans should not just cover the impact of disruption but also the solution. There should be a dedicated crisis management team to solve the issues.
Cultural change. Once you have the operational resilience part handled, it’s time to move to the cultural part. A cultural change is necessary for employees to understand the resilience framework, the role they play in it, and the importance of business continuity.
Ownership. A well defined ownership of the key roles and tasks in the operational resilience framework is needed so that the process runs smoothly and clear responsibilities are assigned.

3 Steps to ensure effective & long-term maintenance of your app

Aun Suhel — Fri, 22 Apr 2022 12:39:23 +0000

By following the best app maintenance practices, you can ensure that your users continue to have seamless and engaging app experiences. Here’s what you should consider for maximizing the benefits from app maintenance:

1. Build your app well from the start:

When creating an app, make sure to keep app maintenance in mind from the very start. This means using a functional platform that is easy to scale. Make sure the platform uses reliable and latest technologies that won’t become obsolete as soon as you finish development.

Moreover, you need to invest in testing, including security, performance, and other types of testing. Testing documentation can help you with app maintenance and support later.

Also, don’t forget to add features in your application that are practically convenient for the users. You can avoid adding unnecessary features to your application that can drive the users away. During the planning stage, your choice for iOS, Android or cross-platform app development will help you determine what features will deliver an amazing experience for your users.

[Also Read: How much does Android app development cost?]

2. Take care of scalability:

Your app’s structure and architecture should be robust enough to handle any number of users. In order to serve thousands or millions of users at the same time, you may also need to upgrade the features and functionalities of your app. Otherwise, you may quickly lose your new users as well as the money you invested in marketing.

3. Stick to your development team:

If you are working with an app development team, make sure to stick with them. If you hire new developers every time, they’ll need time to get acquainted with your project and learn about the technologies used.
When your app is maintained by the same team who created it, the process is rather painless and quick. Your developers know exactly what needs to be changed once a new operating system version is out or a new feature is planned.

If your business is Edutech oriented, you should seriously take the services of education mobile app development company for its development and maintenance.

How much does it cost to develop an app like Tinder?

Aun Suhel — Wed, 20 Apr 2022 12:20:12 +0000

If you want to know how much does it cost to create a dating app like tinder, there are a number of factors that can increase or lower the dating mobile app development cost. The best guidance can be given by app developers for startups who will help your company foray into the hot market of online dating apps.

However, some factors are discussed below for you to consider before taking your next big step:

1. App platform
To create an app like Tinder, iOS platforms cost comparatively less than Android platforms. Since android applications require multiple testing on various devices, it is important to explore the possible development opportunities on both the platforms.

2. App design
If you are looking to incorporate tinder-like app design in your social media application, note that the development cost is going to be relatively higher. You can take advantage of the advanced designing and development tools available to run down the cost. A reliable social media app development company can help you with developing a Tinder clone at an affordable price.

*3. App size *
App size signifies the total number of features and functionalities the app carries. The more functionalities your business app bears, the higher it’s development cost will be.

4. App developers
The tinder app developers have a proficient experience and expertise in creating dating applications. Therefore, the location of your app developers, their history and experience also play a significant role in determining your app development cost.

App development for startups: The Stepwise Process

Aun Suhel — Wed, 06 Apr 2022 15:26:50 +0000

We all know for sure that app development for startups is highly important for them to grow and beat their competition. Let's have a look at the process in a stepwise manner

1. Validate Your Idea: Ideate, Pause, Rethink

We understand that it is attractive to let your creative juices flow but it is equally essential to reflect on other possibilities and not dive right in without testing the waters.

Make a list of all your potential ideas. It not only gives you an insight but provides due clarity regarding which idea to pursue.

In case you are confused whether the idea is worth giving a shot, get it validated from leading experts and see if it sparks their interest. An approach that the best mobile app consultants follow when checking the validity of your product is through a product discovery workshop. The 5 days workshop is known to have brought a number of successful startups in life.

Another tip is to never overlook other ideas. Understand that there is always a scope for improvement, and sometimes the whole process of ideation leads to new outcomes.

After finalizing which idea to pursue, make sure that you have a comprehensive understanding of the pain point and the solution you are offering.

After all, your unique idea, besides making you one of the most successful startups, is also solving a problem. This leads us to the next step.

2. Detail-oriented Market research

No matter how revolutionary your idea is and how likely it is going to transform the mobile application industry, if you do not conduct a thorough market research and are not able to establish a target audience, you are bound to fail.

Understanding the market and finding a product-market fit is a prerequisite to run a successful startup. The key is to ensure you are solving real user problems and even though what you may be doing is not overtly unique, you have to find a place for yourself in the market.

Study the competitive landscape and conduct a competitor audit. Download some apps that work on similar pain points, use them personally and determine the scope for improvement.

Research on apps that failed and explore the reasons for the same.

Why? Because it eliminates the chances of failure and learning from others’ mistakes is a usual practice in the startup ecosystem.

Conducting an in-depth market research can help you find your unique value proposition and ensure that you are way ahead of your competition.

3. Choose an Ideal platform

Choosing an ideal platform for your app is the next step in your mobile app development journey.

In order to decide whether your app will cater to Android, iOS, or both, you should take into account a couple of factors. The key is to research which platform is ideal for mobile startups and understand what aligns with your business idea.

According to Statista, as per the third quarter of 2019, Android users were able to choose between 2.47 million apps while Apple’s App Store offered almost 1.8 million available apps for iOS. This makes Google Play, the app store with the biggest number of available applications.

To choose a viable platform you should study factors like market share and revenue for both Android and iOS. Arriving at a conclusion would not be possible if you do not have an in-depth understanding of the respective play stores. So, carefully assess the number of downloads and revenue models for both the app stores.

4. Focus on Designing an Impeccable UI/UX

One of the common elements in most successful startups is the impeccable design that the applications are made with. No matter which successful app you pick up – Instagram, Canva, Telegram – you will find intuitive design being a part of them.

The role of UI/UX design doesn’t just lie in the eye-catching appeal. The application should be usable and functional as well. Additionally, it should meet the standards set by Google Material Design and Apple’s Human Interface Guidelines.

The UI/UX design guide that we follow at Appinventiv is one that not just meets the guidelines but also solves a number of additional areas like – getting visibility, app spend time, and user retention rates.

Advantages of iPhone App Development for Your Business

Aun Suhel — Wed, 30 Mar 2022 16:08:45 +0000

1. Better App Revenue

iPhone apps have a greater ROI than Android apps. A fact that adds on to the benefits of iOS App development, to a huge extent.

To get the best of the revenue generation opportunities from your iOS application development process, keeping an eye on the mistakes, tips and tricks, and other related information would be a big advantage. Refer to our mobile app development guide formulated from the experiences of our experts to get an idea of everything worth knowing

2. Security of Enterprise Data

Intrusion into a business’s sensitive enterprise data lodged in apps is a big risk with Android apps. On the other hand, when you compare the iPhone vs Android on the basis of security, iPhone apps protect firmware and software through stringent security measures such as :

Integrated data handling systems.
Measures to prevent duplication of data.
Measures against loss of security due to data encryption.

iPhone users are cushioned against hacking and malware and this again counts under the advantages of iPhone App Development over Android.

3. Apps for all business needs

Brands of all scales and sizes have recognized the advantages of having mobile apps for business. Consumers expect mobility and responsiveness from any business they deal with – something that comes attached with the process of iPhone app development for business. Mobile applications are the perfect gateway to reach consumers on the go and remain connected with them every moment.

iPhone apps, custom-built or off-the-shelf, are available to suit all business needs. Despite the fact that the cost of iPhone app development is somewhat higher than other options available, iPhone apps are found to be more lucrative for businesses due to their assured market reach and better-paying clients.

4. Established Customer Base

The established user base is the one Apple USP which is also one of the prime benefits of iOS application development. Apple is a pioneer in technology and applications. Although 75% of app users are Android users, Apple has a well-established niche of clients that swear by Apple’s quality and performance. In fact, it is said that once a smartphone user experiences iOS, they will never be satisfied by any other OS. Android apps have to battle stiff competition as there are too many apps crowding this segment.

Which is best Database for web applications In 2022?

Aun Suhel — Wed, 23 Mar 2022 16:45:06 +0000

Let's have a look at the best database for web applications in 2022.

1. The Oracle

Oracle is the most widely used commercial relational database management system, built-in assembly languages such as C, C++, and Java. This database’s most recent version, 21c, contains a slew of new features.

Oracle is the database management system that stands above the others. Overall, it is the most extensively used RDBMS. It takes up less space and processes data faster, and it includes several new useful features such as JSON from SQL.

2. MySQL

MySQL is one of the most popular databases to use in 2022 in the computer world, especially in web application development. The main focus of this database is on stability, robustness, and maturity. The most popular application of this database is for web development solutions.

MySQL is written in C and C++ and uses a structured query language. MySQL 8.0 is the most recent version of this database, and it includes a better recovery option. The best SQL database comes in a variety of editions, each with its own set of features.

If you want to create an app for your business, get in touch with a mobile application development services company.

3. MS SQL Server

Microsoft provides great toolset support for one of this best database software, both on-premise and in the cloud. It’s attuned well with Linux and Windows systems. MS SQL is a multi-model database that supports Structured Data (SQL), Semi-Structured Data(JSON), and Spatial Data.

It is not as inventive or advanced as other modern list of popular databases, but it has undergone considerable improvements and overhauls over the years.

4. PostgreSQL

POSTGRES was the initial name of the database. Michael was also honored with the Turing Award for his contributions to PostgreSQL.

PostgreSQL is a database management system written in C and used by businesses that deal with huge amounts of data. This database management software is used by several gaming apps, database automation tools, and domain registrations.

5. MongoDB

When it comes to most popular databases to use in 2022 through a NoSQL database, there are a few things to consider. MongoDB is the first Document Database management software that was released in 2009. It is challenging to load and access data into RDBMS using object-oriented programming languages which also require additional application-level mapping. Thus, to overcome this problem, Mongo was developed to handle Document Data.

6 Mobile App Monetization Models to Consider

Aun Suhel — Tue, 22 Mar 2022 13:16:08 +0000

The pricing app strategy you choose for your application also makes a difference to the earning from mobile apps.
The answer to how do apps make money is best given by an iOS app development company.
So, it is must to be familiar with all the types of mobile app monetization strategies they can go with.

1. In-app advertising

While the application is free to download and use, app publishers earn money based on the interactions on the advertisements displayed within the application. This app revenue model is highly considered and found to be profitable. The in-app advertising has several formats such as Interstitial ads, Banner ads, Video ads, Native ads, Text ads, Native ads, and so on.

2. In App purchases and freemium model

The foremost monetization strategy that one considers when looking into how to make money of an app without ads is Freemium.

Here, the application is free to use. But, the users would have to pay some amount of money to buy a wide variety of virtual elements from the mobile application. This includes extra lives, blocking ads, premium app content, game currency, and more.

3. Subscription (Software-as-a-Service) model

Another strategy that comes forward as the answer to how to monetize apps is the Subscription model.

Here, users are asked for a weekly, monthly, or annual fee in return of a particular service provided by the mobile app development company. This type of business and monetization model is often recommended in the case of cloud-based services, audio and video content providers such as Spotify, Google Music, and Netflix.

Note: Only 5% of the successful app developers are using subscriptions to get income from an app.

4. Sponsorship

Sponsorship is yet another method of making an earning from a mobile app. This model is usually incorporated with those applications that already have regular users, and is suitable when connecting with brands from the same market niche.

When discussing in detail around how apps make money via this monetization strategy, there are two deals to go with –

Equally divide revenue from the mobile app

Set a monthly sponsorship fee.

Example: Weather Channel app relies on this business and monetization model to prevail in the market.

5. Crowdfunding

Crowdfunding, an alternate funding model to consider this year, is also one of the profitable ways to monetize apps for free.

Here, you exchange your app idea or publish an MVP version on platforms like KickStarter, CrowdFunder, Indiegogo, and Fundable to raise funds and do the needful in the field of marketing.

Example: In 2017, the Hello Earth game with a famous cat character earned USD 148k via such app monetization strategies.

6. Affiliate links

This is another variation of sponsorship, however in place of granting advertising rights solely to one organization, you negotiate with a few interested parties and place their reference links in your application. This is a decent method to increase your income if you lack a wealthy player on the market who is ready to cover your costs.

Custodial vs. Non-Custodial Wallets: Understanding the Difference

Aun Suhel — Mon, 21 Mar 2022 14:25:22 +0000

**What is a Custodial Wallet?

**
A Custodial Wallet is defined as a wallet in which the private keys are held by a third party. Meaning, the third party has full control over your funds while you only have to give permission to send or receive payments.

**What is a Non-Custodial Wallet?

**
It is a type of Blockchain wallet that lets you be your own bank. This implies that users have full control over their funds and on the associated private key. If you want to know more about blockchain wallets, you can read here.

Custodial Vs Non-Custodial Wallet

*1. Custodian of private key
*
The foremost factor to consider when comparing the Custodial vs non-custodial wallets is who holds the private key.

In case of Custodial wallets, the third party manages the private key. Whereas, in the case of Non-Custodial wallets, all the blockchain custodian services reside with users.

So, in case you want to introduce a wallet where users can be their own bank, go with the idea of creating non-Custodial blockchain wallets.

*2. Transaction type
*
Another factor to consider during Custodial and Non-Custodial crypto wallet comparison is the transaction type.

The transaction is reflected on the chain in real-time in Non-Custodial. But, it is not so in the case of Custodial wallet.

This again shows that the former leads the show.

*3. Security
*
In the case of custodial online crypto wallets, all the sensitive user data is stored in hot and cold storage, which are often hacked by data intruders. Because of this, the security level is low in custodial, unless the authoritative party implements strong security measures.

Whereas, in case of Non-Custodial crypto wallet comparison, the whole information remains with users. This reduces the risk of data being stolen, unless the user shares the details with someone, or their device gets stolen.

So, here again, Non-Custodial wins the Custodial vs Non-Custodial wallet battle.

*4. Backup and recovery possibility
*
When it comes to backup and recovery possibilities, non-Custodial crypto wallets lag behind the Custodial one.

The Custodial wallets keep the private key with themselves. So, even if you lose the access to data, you can regain the access by requesting the third party.

However, this is not possible in the case of Non-Custodial wallets where you are the sole authority.

Several industries across different domains are getting their own crypto wallet app by getting mobile application development services from an experienced company.

How do dApps Make Money

Aun Suhel — Thu, 17 Mar 2022 12:13:39 +0000

Lets have a look at how do dapps make money through various models.

1. Crowdsale and Token Launch

The foremost dApp business and revenue model to consider is to bootstrap a project through crowdsale and back it with a token.

If you plan on taking the route, you will have to keep following things into consideration –

The main functionality of your decentralized app

Provide access to the network

Distribute profit to the token holders

2. Transaction Fees

Another model that is present in almost all the guides on monetization of dApps is charging transaction fees. Charging users for availing your service can be one of the most profitable ways to make money by developing dapps.

This is how one of the most popular ways to monetize your Ethereum dApps work –

A purchases something from B on your platform

X% of the amount goes to you – the service provider

100 – X% then goes to B

The caveat here is to know what percent of transaction fees to set. If you allot a high amount, someone will eventually copy your smart contract and offer their own version with a less to zero transaction fees.

3. Premium

Taking cues from the traditional, non-decentralized gaming apps, you can too add the monetization functionality in your app to answer the investors’ persistent question on how to make money with dapps.

If yours is a gaming app too, you can add the model and offer players a chance to up their game without working on the levels by buying the premium functionality using digital currency.

4. Subscription

You can easily add a membership or subscription element in the contract to ensure that the function has only been called upon by subscribers or the premium members.

The time frame of this subscription can be:

Usage-based – The users would only be allowed to call function X times

Time-based – Users would be allowed to call in a function till X time passes

5. Advertisements

While still a very new/ less used blockchain business and monetization model, advertisements do in fact find a place in the answer to how decentralized app development makes money.

So, you should think about adding it to your list of dApp monetization strategies.

6. Donations

If your dApp project is out to solve some world issue or to function around some social cause, you can put a donate button on your application or website or can even pass its link around to social entrepreneurs to donate.

7. Create Digital Goods

One of the biggest examples of how Ethereum apps make money using this monetization model can be seen in CryptoKitties.

What CryptoKitties did is that they developed generation 0 kitties and gave them to the platform users to keep as a collectible. By making the kitties functional and unique and viral trending, they were able to attract users to put their money in the digital good.

8. Referral Marketing

Referral marketing that has proven to be behind e-commerce app success can also be taken into consideration to make money with Ethereum based decentralized applications. In fact, there are a number of Blockchain powered platforms on the internet today that give you a link to their website to promote. And depending on the clicks or traffic you are able to send their way, you get paid by them.

The answer to how do dapps make money is best given by a mobile app development company.

Best programming languages for Blockchain app development

Aun Suhel — Wed, 16 Mar 2022 11:39:46 +0000

Solidity

Influenced by JavaScript, Powershell, and C++, Solidity is the first blockchain programming language that one must learn. Especially when you want to develop dApps or are looking to get into the ICO development game.

The Solidity blockchain programming language was developed by Vitalik Buterin, the mastermind behind Ethereum. It serves blockchain development firms with a myriad of benefits, such as:-

Developer-friendliness,
Accessibility to JavaScript infrastructures, debuggers, and other tools,
Statically typed programming,
Possibility of inheritance properties in smart contracts,
Precise accuracy

Java

Java, the official language of android application development and a preferred option for backend development, is also considered one of the top blockchain programming languages used for Blockchain development.

The language is derived from C-syntax and is widely chosen for building sophisticated smart contracts and dApps because of its following properties: -

Robust support for OOP (Object-Oriented Programming) methodology,
Ease of memory cleaning
Availability of ample libraries
Python
Blockchain programming in Python has not only ruled the world of app development, IoT app development, and network servers’ development, but is also proving to be an asset in the Blockchain-as-a-service arena.

The language, created in 1991, is widely used for dApps and Smart Contracts development because of the exceptional features it offers. Some of those features of blockchain coding in Python include:

Blockchain programming in Python language is easy to learn
Access to dynamic architecture
Perfect for both base and scripting approaches,
Open-source support
Blockchain coding in python is efficient for prototyping
Steem, Hyperledger Fabric, and NEO are a few popular Python–based Blockchain projects that are prevailing in the industry.

How Data Analytic Solutions are Helping Business Succeed

Aun Suhel — Tue, 25 Jan 2022 07:09:44 +0000

Data science for business decision making is very much a reality. It is the cornerstone of business foundations in the information age. Its applications extend beyond just extrapolating insights. The curated findings help maximize efficiency. A prevalent case in point is the repurposing of data for charting buyer personas that can be (re)targeted for marketing campaigns and brand building.

Decision-makers have their hands full with figuring out the crossover benefits of data science and data analytic solutions which include but are not limited to the following:

Fraud detection
Financial risk management
Cyberattack mitigation
Industrial mechanization and management
Advance warning systems for IT teams

Data is not just an asset, but an intercontinental currency. It can be used to optimize a company’s capabilities beginning from organizational supply chains, inventories, distribution networks, to customer service and marketing channels. The aim of this hands-on approach is to reduce capital expenditure with an outcome-oriented view of revenues.

Some of the immediate benefits of data science for businesses are increased ROIs, improved sales, streamlined operations, a quicker turnaround time for products, and increased customer engagement and satisfaction.

Quality data synthesis can lead to quantification of results and a better overview of what works and what doesn’t. Million-dollar campaigns shouldn’t be run based on whim. Instead, they should be guided by numerical evidence that outlines cost savings, business process optimization, and time-saving workflows.

While the aforementioned marquee characteristics are universal, specific value additions depend on the nature of the industry. In startups and enterprises that have a consumer-facing frontend, data can indicate the ideal target audience. Marketing divisions can utilize campaign performance data to churn hot leads and push up their conversion rates leading to better sales.

Which JS Version is Best for Getting Hired?

Aun Suhel — Sun, 17 Nov 2019 19:56:40 +0000

Hi...im a beginner to programming and JavaScript. I want to know which version of JS should I learn to improve my chances of landing a entry level web developer job.