How Much Does It Cost To Create An App Like Univest?

In today’s digital-first world, stock recommendation apps like Univest are essential for businesses aiming to help users make informed investment decisions. These apps empower users by offering tailored stock suggestions, expert insights, and real-time market data, making them invaluable tools for investors.

Imagine scrolling through your stock app and getting closer to making that perfect investment. Exciting, right? That’s exactly what stock recommendation apps like Univest do; they offer users insightful data that leads to smarter financial decisions. But it’s more than just advice; it’s a long-term solution to help investors grow their wealth over time.

Now, if you’re thinking of creating something similar for your business, you’re probably wondering: How much does it cost to build a stock recommendation app like Univest? No worries, we’ll break it down for you.

To give you an estimate, the overall cost to develop an app like Univest usually ranges from $50,000 to $300,000 or more, depending on several factors like app design, functionality, integration with financial data sources, and ongoing maintenance.

In this blog, we will provide a detailed breakdown of the costs involved in developing a comprehensive stock recommendation app. Beyond just the price, this blog will equip you with the knowledge needed to make a well-informed decision about investing in a custom app for your business.

Read on to discover everything from initial design and development costs to long-term operational expenses.

What Is Univest App?

Source: Univest

According to a report by Allied Market Research, the global stock market software industry is projected to reach $11.21 billion by 2031, growing at a CAGR of 12.8% from 2022 to 2031. This growth highlights the increasing demand for stock recommendation and investment platforms like Univest. 

The Univest app has effectively used cutting-edge financial tools to empower its customers by making investing easier and providing knowledgeable financial guidance. It has a lot of useful features that help investors make smart choices. This gives it an edge in the fast-paced fintech business.

With over 10L+ downloads, thousands of active users, and a membership base that keeps growing, Univest has become a major force in getting users involved and giving them financial freedom. This growth shows how important it is to the fintech scene as a whole, making a big difference in a market that is very competitive. Just in 2024, Univest has grown a lot, which has helped investors and businesses trust the company more.

If your company wants to make a financial or trading app like Univest, you need to know how much it will cost and what factors go into making one. Get in touch with us to get a full breakdown of how much it costs to make a dynamic financial app like Univest.

How Does Univest Work?

The Univest app is a comprehensive investment platform designed to assist users in navigating the financial markets, providing them with tools to manage portfolios, get real-time market insights, and receive expert financial advice.

It caters to a wide variety of investors—from beginners looking to build a portfolio to seasoned professionals seeking advanced analytics and insights. The app offers tools such as:

• Portfolio Management: Users can create and manage their portfolios easily, tracking investments across multiple asset classes.
• Market Insights: The app provides real-time data, market trends, and expert analysis to help users make informed investment decisions.
• Educational Resources: Univest delivers valuable educational content, guiding beginners through financial concepts and investment strategies.
• Risk Assessment: Users can evaluate their risk tolerance and receive tailored investment suggestions to align with their financial goals.
• Custom Alerts: The app notifies users about critical market changes, helping them stay on top of their investments.

These features provide a personalized, data-driven experience that simplifies complex financial processes, making it an invaluable tool for investors at all levels. Univest’s focus on customization and user engagement enhances its value proposition, helping to cultivate long-term loyalty.

Factors Affecting The Cost To Create An App Like Univest

To create an app like Univest requires a blend of technical expertise and financial knowledge. Several factors impact the overall cost of development. Let’s dive into the key aspects that will determine the cost of building a fintech app like Univest:

1. App Design And User Experience (UX)

The style of the app is a big part of how engaged and loyal users are. To make an app with a good interface that is easy to use, you need creators with a lot of experience. The more complicated the design, the more it costs. It may be cheaper to have a simple interface, but it won’t be as interesting as a design that is made just for your audience.

2. Feature Complexity

Fintech apps like Univest often have a lot of complicated features, like tools for managing portfolios, real-time market info, and advanced analytics. Each feature takes longer to build and needs knowledge of tools that are specific to fintech. Custom features like AI in investment, algorithmic trading, AI-based suggestions, or machine learning for assessing risk can make the cost of development go up by a lot.

3. Data Security And Compliance

Strict security measures, like encryption, multi-factor authentication, and compliance with GDPR, are essential for a fintech app because it handles sensitive financial data. Making sure that your app meets these security requirements adds to the cost of making it. Not following the rules set by regulators can lead to harsh punishments and loss of user trust.

4. Third-Party Integrations

Online investment advisors apps like Univest often work with other services, like banks, stock markets, and payment gateways. How hard these links are to do depends on which APIs are used and which systems are linked. For real-time data changes and a smooth user experience, integrations must work well. However, these integrations raise the cost of development.

5. Platform Compatibility

Developing the app for multiple platforms (iOS, Android, and Web) increases development costs. While native apps provide optimal performance, cross-platform development using tools like React Native or Flutter can reduce costs by allowing code reuse across platforms. However, this may slightly compromise performance.

6. Maintenance And Updates

After the initial development, fintech apps require ongoing updates and maintenance to ensure they remain secure and function correctly with evolving market conditions. Regular updates, new features, and compliance with changing regulations add to the long-term cost of running an app like Univest.

7. Location Of Development Team

Where your development team is located can significantly affect costs. Developers in North America and Europe tend to charge higher rates, while teams in Asia, particularly in countries like India, can offer the same quality of work at a fraction of the price. Outsourcing development to a firm in an area with lower rates can drastically reduce your total investment.

Key Features For An App Like Univest

1. Portfolio Management

Users are able to keep track of a wide range of assets, including stocks, bonds, cryptocurrency, and more. Investors ought to be able to simply monitor their holdings, view their portfolio’s performance over time, and gain access to historical data. They ought to be capable of rebalancing their portfolio or making adjustments as necessary.

2. Real-Time Market Data

Financial news, analysis, trends in the market, and stock prices are all provided to consumers in real-time. Users can make better judgments with up-to-the-minute data, so make sure your app provides comprehensive market data, including global indices and sector-specific updates.

3. Custom Alerts

Let users set custom alerts for stock price changes, portfolio performance, or important financial news. Notifications can help users stay on top of market movements and take action based on their investment strategy.

4. Educational Content

To attract new users and educate them about investing, it should offer lessons, articles, videos, and webinars. As a newbie, you can use this tool to learn the basics of the stock market, how to diversify your portfolio, and manage your risk.

5. Security Features

Security is crucial for any fintech app. Include features like end-to-end encryption, biometric login (fingerprint or facial recognition), and two-factor authentication (2FA). Strong security measures are essential to gaining user trust.

6. Analytics And Insights

It can provide users with advanced analytics tools to give them insights into their investments, risk assessments, and market trends. AI-based recommendations can help users identify opportunities and optimize their portfolios.

7. Multi-Platform Support

Make your app available across iOS, Android, and the web. This ensures users can access their investments from any device, anytime.

8. User Community & Social Sharing

Encourage users to engage by adding features that allow them to share investment strategies, insights, and discuss market trends. Social sharing can also help promote your app to a wider audience.

Step-by-Step Process to Create An App Like Univest

A well-organized plan is needed to make a stock market app like Univest. Here is a step-by-step plan to help you make a great financial app:

1. Requirement Analysis

First, write down your business’s goals and who you want to reach. Figure out what features will make your app unique and then put them in order of importance based on what users want. Figuring out the problems your audience is having can help you make features that really help them.

2. Market Research 

Look at other stock market apps like Univest to get a good sense of the market. Find holes and chances to make your app stand out. Feedback from people who have used similar apps will help you figure out what users want, which will help you improve your app idea.

3. Creating A Business Model

Figure out how you’re going to make money. You should pick a business model that fits the goals and wants of your app, whether it’s through transaction fees, subscriptions, or partnerships.

4. Making prototypes

Use wireframes or models to see how your app will look and how users will move through it. Early prototyping lets you try the app with real users and get feedback on how well it works and how easy it is to use before you start full-scale development.

5. Create MVP

Make a Minimum Viable Product (MVP) that has the most important features, like protection, portfolio management, and real-time data. Launch the MVP to see if your app idea works and get feedback on how to make the next part of development better.

6. UI And UX Design

For involvement, the user interface (UI) and user experience (UX) must work well together. Pay attention to making a design that looks good and is easy to use. The UX should be easy to understand so that users can quickly find the tools and information they need without any problems.

7. Full-Scale Building

After making sure the MVP works, you can move on to full-scale development. Make sure your app follows the best ways to code and includes important services like safe payment gateways, third-party financial data providers, and APIs for trading stocks.

8. Testing

Do a lot of tests to find bugs and fix them, make sure the system runs smoothly, and keep data safe. To give users a uniform experience, the app should work well on all platforms and devices.

9. Setting Up And Advertising

Put your app on app stores and use a variety of marketing methods to get the word out about it. To get people to download your app, use digital marketing techniques such as SEO, social media ads, and relationships with influencers.

10. Post-Launch Support

Once the app is out there, keep getting comments from users and keep releasing updates to fix bugs, add new features, and make the app safer. Keep up with changes in the market so that your app stays useful.

How Does An App Like Univest Make Money?

• Membership Fees: Offer a tiered membership system for premium features like advanced analytics and AI-driven investment recommendations. Free users can access basic features, while paid members unlock more advanced tools and educational content.
• Commissions: Charge small commissions on trades or transactions, collecting a percentage of each trade.
• Advertisements: Collaborate with financial services providers to display targeted ads, generating significant ad revenue.
• Data Analytics Services: Offer analytics services to partner companies based on user data insights, selling anonymized user data for targeted marketing and financial planning tools.
• In-App Purchases: Offer additional in-app purchases like advanced tools, exclusive market reports, or premium educational courses.
• Partnerships with Financial Institutions: Establish revenue-sharing models or referral fees when users trade or invest through partnered services.

Conclusion