Powered analytics platform for traders
PsyQuation

A financial technology platform, often referred to as a fintech platform, is a technology-driven system or software that provides various financial services and solutions. It leverages technological innovations to offer convenient, efficient, and user-friendly financial services to individuals, businesses, and organizations.

Fintech platforms typically operate online or through mobile applications, enabling users to access financial services anytime and anywhere. These platforms can encompass a wide range of financial activities, including but not limited to banking, payments, lending, investment management, insurance, and personal finance.

Fintech platforms can be developed for different purposes. For example, financial institutions may implement such solutions in order to allow customers to make transactions, monitor debit card balances, and get access to multiple banking services through one tech product. Fintech platforms can also be tax management, cryptocurrency, and online wallet solutions.

For example, the Coreteka team designed PsyQuation, a mobile application providing traders and brokers with insightful data. This allows them to make a data-based solution for their investments. Thus, this solution is suitable for blockchain, cryptocurrency, and investment goals. Moreover, PsyQuation is powered by Machine Learning technology which can assist traders in making currency-purchasing decisions.

Financial investments carry risks, so traders should carefully develop their strategies and study the market before making any decisions. That’s why data analytics can become a powerful tool for a disruptive financial technology platform.

Data analytics platforms for traders should be designed to provide powerful tools and insights to make informed investment decisions. It’s crucial to leverage data analysis techniques and algorithms to process and interpret large volumes of financial data, market information, and other relevant factors. Here are some common features of good data analytics platforms for traders:

1. Real-time market data. Such solutions should provide valuable information insights like stock prices, indices, commodities, currencies, and other financial instruments. This will allow traders to stay updated with the latest market trends.
2. Data aggregation and integration. Provided information should be gathered and aggregated from various sources, e.g., stock exchanges, financial news sources, and social media. In such a way, your customers will get a comprehensive view of the market.
3. Data visualization. Visual information is perceived by human brains well, so it becomes much easier to make financial predictions and decisions. To integrate the visualization feature into your data analytics financial platform, you can use charts, graphs, and heatmaps to represent market trends, price movements, and so on. Visualization is a perfect solution to identify patterns, correlations, and potential opportunities.
4. Technical analysis tools. Traders should be able to access a range of technical analysis tools, such as moving averages, oscillators, trend lines, and indicators, to analyze historical price patterns and forecast future market movements.
5. Fundamental analysis. It would be great if your data analytics platform incorporates fundamental analysis tools to assess the financial health and performance of companies. This can include financial statement analysis, earnings reports, industry comparisons, and valuation metrics.
6. Sentiment analysis. Some platforms can utilize natural language processing and sentiment analysis techniques to gauge market sentiment based on news articles, social media posts, and other textual data. Traders can gain insights into public perception and market trends.
7. Risk management tools. It’s crucial to provide risk management tools to help traders identify and manage their exposure to risks. This may include portfolio tracking, risk assessment models, stop-loss orders, and position sizing calculators.
8. Customization. To provide a smooth and personalized user experience, you should develop customization features. For example, watchlists, market condition alerts, price movement notifications, and so on.

It’s also crucial to provide your customers with a choice of how to use your financial data analytics platform. A lot of successful fintech companies develop both mobile and web versions. In our article, you can read about ways of converting a website into an app.

Customer data analytics platforms can be a valuable source of information for financial institutions. After researching and analyzing large amounts of information, you can investigate user preferences and behavior. This is important because in such a way companies can deliver personalized product recommendations, offers, and promotions.

Businesses that effectively leverage financial customer data analytics gain a competitive edge. By harnessing insights from customer data, companies can make informed business decisions, develop innovative strategies, and differentiate themselves in the market. This can lead to increased market share, customer acquisition, and overall business growth.

Moreover, customer data analytics tools can make a great contribution to your risk assessment. Financial customer data analytics platforms can assist in identifying potential risks and fraudulent activities. By analyzing customer behavior, transaction patterns, and anomaly detection algorithms, companies can identify suspicious activities in real time, enabling proactive risk management and fraud prevention.

The cost of a financial platform development varies significantly depending on various factors, including the platform’s complexity, features, technology stack, development approach, and the development team’s location and expertise. Here are some considerations:

• Development team. The cost of hiring a development team or partnering with a software development company will depend on their experience, expertise, and location. The development region has a huge impact on the final price. For example, the USA is considered the most expensive software development location while Eastern Europe is a great destination due to its affordability. Coreteka opened a new office in Poland to provide our customers with the best rates for software developers.
• Platform complexity. The complexity of the software platform for traders will impact the development cost. Basic platforms with essential features may cost less compared to advanced platforms with complex functionality, integrations, and sophisticated algorithms.
• Design and user experience. User interface (UI) and user experience (UX) design play a crucial role in a trading platform. Investing in intuitive and visually appealing design elements can increase development costs.
• Features and functionality. The number and complexity of features required in the platform will affect the development cost. Consider features like real-time data feeds, charting tools, order management systems, risk management tools, backtesting capabilities, and more.
• Integration requirements. If the platform needs to integrate with external systems like market data providers, payment gateways, or trading APIs, the development cost may increase.
• Testing and quality assurance. Rigorous testing and quality assurance processes are essential for a robust and reliable trading platform. The cost will depend on the depth and extent of testing required.
• Security and compliance. Trading platforms need to comply with security standards and regulatory requirements. Implementing robust security measures and ensuring compliance may increase development costs
• Maintenance and support. Ongoing maintenance, updates, and support for the platform after its initial development will contribute to the overall cost. It is important to factor in long-term maintenance costs.

Given these factors, it is challenging to provide an exact figure without specific project details. Thus, financial data analytics platform development can range from thousands to millions of dollars. It is advisable to consult with software development companies or experts to get accurate cost estimates based on your specific requirements. You can drop us a line and describe your business needs/technical requirements to get an accurate calculation and consultation from Coreteka technical experts.

There are plenty of investment tools on the market, but after conducting the research phase, our team found most of such solutions don’t provide accurate predictions. Here is a PsyQuation review with a list of its unique features:

• Machine Learning ecosystem—thanks to advanced algorithms, the mobile application analyzes vast amounts of market data, including historical prices, news, social media sentiment, and other relevant factors. By identifying patterns and correlations, machine learning models can provide insights into market trends, volatility, and potential trading opportunities.
• Opinions and predictions based on research from different sources—using Machine Learning and multiple information sources, PsyQuation provides users with customized advice, which can be a key factor in decision-making.
• Other users’ profile tracking—Coreteka trading app provides users with a feature to monitor and analyze their trading performance in detail. With league tables, diagrams, and performance rates, customers can easily track their progress and identify areas for improvement. This enables them to gauge their standing in the trading community and identify top performers to learn from.
• Data security—we implied several data protection techniques like encryption, secure authentication, and storage. This ensures that your sensitive financial information isn’t transferred to a third party.

Our team has developed successful projects for different markets. For example, you may also be interested in our YChamp mobile application allowing people to be healthy and get valuable prizes from this lifestyle.

The PsyQuation trading app made by Coreteka has earned immersive popularity among users. This means that our job as a software development company was done well. We’re not about writing pieces of code, we’re about conducting business analysis, developing competitive features, and creating user-friendly interfaces.

Coreteka’s experience in custom software and mobile application development is more than 7+, allowing us to provide great services. Want to get a detailed calculation of your future fintech solution? Contact us.