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How to Develop A Loan App?

The development of a micro-credit application is a practical solution for companies that issue loans online to a card, and for their customers, who will find it more convenient to take and return it. In this article, we will consider how to build a loan app.

The benefits of a loan app for a credit company

In the modern world, it is very important for consumers to have access to lending at any time of the day, without wasting time visiting the office and collecting documents. Credit companies use mobile applications to provide customers with convenient services.

  1. All services in one place.

Developing an application for loans is a complex task. It includes the creation of services not only for clients but also for employees of the credit company. The former receive all the functionality for obtaining a loan – from a calculator to a personal account and a personal loyalty program. The second – all the statistics, as well as tools for dealing with delays and encouraging responsible borrowers. At the same time, the main function remains the automatic issuance of a loan online to the card – the application itself decides on the available amount and other loan conditions based on a complex algorithm.

  1. CRM for accounting.

The application will transfer data about users, loans, and repayment schedules to and from a database. It can be connected to the same CRM that you use for the site and physical points to create a single ecosystem. If you will work with customers only through the application, order the development of a personalized system for managers. With the application it will be possible to issue access levels for personnel, set up automatic algorithms that will be launched when certain conditions are met, for example, charge a late fee and report it, and collect statistics.

  1. Fast issuance and clear navigation.

The main advantage of microcredit services is the ability to get a loan in a couple of minutes. The application allows customers not only to take but also to repay loans even faster. One of the main advantages of the application compared to the site is a simpler and more understandable interface. There will be a separate page for each step of registration and further actions. The registration steps can be made custom, depending on what kind of information about users you want to receive from them, and what information from official sources. The menu and navigation of the application will be familiar, similar to other applications in iOS and Android, and will not let you get lost on the way to the target action. All data entered during registration for the first loan will be saved, and customers can get the next one even faster. A page with answers to frequently asked questions will reduce the burden on operators.

  1. Integrations.

The development of a website or application for microcredit takes into account all the stages that a customer goes through to receive a loan. These are not only authentication features such as phone number and bank card verification, but also synchronization with credit bureaus. The list of mandatory integrations includes payment by card and sending notifications through various channels, as well as an optional chat with a bot or a real employee.

  1. Analytics.

You can attract new customers and keep regular ones only by constantly analyzing statistics and improving the service. It is possible to connect marketing tools to the application to track the effectiveness of e-mail newsletters and advertising on different channels in order to find out the percentage of their effectiveness. You can also view user activity in the application itself to understand, for example, at what stage of filling out an application they have problems. Statistics will help to select personal offers for regular customers and launch advertising campaigns where they will be seen for sure.

  1. Safety.

For customers, this is simplified authentication. To get into the personal account on the company website, the customer needs to enter a login, password, SMS code, and sometimes even a captcha. This provides data protection but is very time-consuming. It is much easier and faster to enter the application with a fingerprint or FaceID. The level of confidentiality will remain the same, and comfort will increase several times. Security for credit companies is protection from bots. Anti-fraud and scoring systems are connected to the application, which, using machine learning, weed out scammers.

  1. Personalization.

The development of a loan application makes it possible to create a unique recognizable design. It can be branded graphics for important elements, such as charts and calculators, as well as the entire interface as a whole. The evaluation of the service by users directly depends on the quality of the visual. In addition, the application has many bonuses compared to the site. For example, it will be able to send push messages instead of or along with SMS and e-mail newsletters, download a PDF file with a contract for viewing, and so on.

Stages of developing an application for loan service

If you are interested in creating an application for loans, let’s figure out the stages of this solution development.

  1. Analytics and development of the technical specification.

Work on each project begins with the creation of a concept. To do this, a comprehensive analysis of your business, niche, and competitors is carried out. All this helps to better understand the target audience and develop a strategy that will attract it. The received data is used to create a TDA for the development of the application. The terms of reference are discussed and changed until you are satisfied with the result. After the approval of the TDA, it’s time to sign an agreement.

  1. Design.

The development of a loan application starts with the creation of a UI/UX layout. This is an interface framework based on user behavior analytics data. Designers define the functionality and layout of interface elements that the company’s customers will interact with.

  1. UI design.

The appearance of the application layout is developed by UI designers. Their job is to create a user interface that will make the application not only beautiful, but also understandable, and will also lead to targeted actions. They are the ones who think through the customer’s journey, add hints, auto-filled forms, and much more. In parallel with this, they create the design of the application: they use successful combinations of branded colors for elements, draw graphic content, and so on.

  1. Front-end and back-end development.

The technical part of developing an application for credit services depends on the platform on which you want to run it. If this is Android, then development is carried out in Java and Kotlin, and if iOS, then in its native programming languages ​​- Swift and Objective-C. It is recommended to choose one of them if you want to work only with iOS or Android users or run two applications. The third option is to write a cross-platform program in Dart or Phyton using frameworks and publish it in two stores at once. Hire frontend developer to set up the interaction between the technical part of the application (back-end) and the design layout.

  1. Testing and publishing.

Before launching the application, it is checked for stability and speed. When testing, experts find and fix bugs that may interfere with the use of application functions. After publication, you can refine the application, including fixing non-critical errors, as well as adding new pages, sections, and options. In most cases, it is more profitable to quickly launch an MVP – an application with a minimum of functions needed for work – and gradually scale it up.

  1. Marketing.

To start attracting customers faster, new applications need competent promotion, and we can help you with this by setting up advertising in different channels.


The price of developing an application for credit companies depends on the complexity of the project, as well as on whether you will launch two native applications for iOS and Android or one cross-platform one. Experience in development and comprehensive analytics prior to the creation of the application allows the Inoxoft company to accurately calculate the price and terms before signing the contract. Feel free to contact managers and discuss all details concerning loan app development.

I am fully ambitious and highly dedicated to digital marketing, in particular content creation, link building, and content marketing. With an ample of experience (around 6 years) helps businesses’ online presence to be more visible in search results as well as among the related audience.