Mobile App Development Steps to Build a Saving And Investment App Like Acorns

“Dive into a world of smart money management with Saving and Investment App—your financial magician that twists every penny into a powerhouse of possibilities.”

Say goodbye to financial stress and hello to a brighter, more secure future. Ready to build a saving and investment app like Acorns work for you? Let’s dive in!

Just like magic, the Acrons app takes your everyday purchases and turns them into investments, paving the way for financial growth without lifting a finger.

Did you know these impressive figures back the mobile investment app’s profitability? It’s amazing how the app can achieve such success and help people grow their wealth.

Table of Contents Toggle Statistics	Figures/Percentage
Google searches increase (Yearly)	115%
Global e-trading market growth (2021-2028)	$8.7B to $12.16B (CAGR: 5%)
Online investment tool usage (Last 12 months)	At least 10% across all age groups
Smartphone owners with financial apps	63%
Stand-alone investment app users	17% of smartphone owners

This saving and investment app development provides users with the tools and resources to save, invest, and grow their money, all from the convenience of their smartphones. Acorns, a leading saving and investment app, has changed the way people approach personal finance.

Whether you are a financial institution, a startup, or an entrepreneur looking to venture into the fintech industry, this post will provide you with valuable insights to embark on your journey to build an app like Acorns.

Exploring the Rise of Saving and Investment Apps: What is Acorns App?

Looking to invest your money with ease and convenience? Look no further than Acorns. With Acorns, you can effortlessly grow your investments over time, all while working towards your financial goals without lifting a finger.

Whether saving for a specific milestone or building long-term wealth, Acorns is designed to make investing simple, accessible, and potentially rewarding for everyone.

Acorns is a revolutionary financial platform that empowers users to effortlessly save and invest their spare change.

Launched with the vision of making investing accessible to everyone, Acorns utilizes a unique and user-friendly approach.

The app connects to your everyday spending, rounding up each purchase to the nearest dollar and investing the spare change in diversified portfolios.

This micro-investing strategy ensures that even the smallest amounts can contribute to building a robust investment portfolio over time.

Let’s Have a Quick Look at the Embarking Journey of Acrons App

Year	Milestone
2012	Acorns founded by Jeff Cruttenden and Walter Cruttenden
2014	Official launch of the Acorns mobile app, introducing spare change investing
2014	Acorns raises $23 million in a funding round led by Greycroft Partners
2015	Surpasses 1 million investment accounts
2017	Launches Acorns Later, a retirement account feature
2017	Acorns raises $50 million in a Series D funding round led by BlackRock
2018	Introduces Acorns Spend, a checking account with a debit card
2019	Reaches over 6.2 million users and $1.2 billion assets under management
2020	Launches Acorns Early, a UTMA/UGMA account for children
2021	Crosses 9 million users and $4.7 billion assets under management
2023	Continues to evolve, introducing new features and expanding its user base

How Acorns Simplifies Saving and Investing for Users

What sets Acorns apart is its simplicity. The app eliminates the complexities typically associated with investing, making it accessible to individuals with little to no investment knowledge. Acorns’ automated features enable users to invest effortlessly, without the need for constant monitoring or extensive financial expertise.

By rounding up everyday purchases and investing the spare change, Acorns removes the barriers and excuses that hinder people from saving and investing. It allows users to start small and gradually build their investment portfolios, empowering them to take control of their financial future.

Understanding the Benefits of Building a Saving and Investment App

Nowadays mobile app development company focus to build a savings and investment app like Acrons. It offers numerous benefits for both users and developers.

For users, these apps simplify the process of saving money and investing wisely. They provide a seamless user experience, real-time updates, and insights into financial goals.

As a developer, building a saving and investment app opens up a world of opportunities. The demand for these apps constantly grows, presenting a lucrative market to tap into. Create a user-friendly and reliable app to build a strong brand presence, attract users, and generate revenue through subscriptions or referrals.

6 Secrets to Build a Saving And Investment App Like Acorns

Acorns is one of the leading saving and investment apps that has gained tremendous popularity.

The app offers a unique approach to investing by rounding up users’ everyday purchases and automatically investing the spare change.

This micro-investment strategy allows users to grow their wealth gradually over time.

Let’s start

1. Market Research and Analysis

Identifying your target audience is crucial for app development. It helps you tailor features and user experience to meet their needs. Saving and investment apps attract a broad audience, ranging from young professionals looking to start investing to seasoned investors seeking simplified management tools.

Consult with a saving and investment app development company that conducts market research, analyzes user demographics, and gathers insights from potential users are essential steps in identifying your target audience.

To stand out in the competitive landscape of saving and investment apps, it is crucial to study your competitors. Analyze their features, user experiences, pricing models, and customer feedback to identify gaps and opportunities for innovation.

By studying competitors, you can gather valuable insights into the market’s demands and expectations. Use this information to differentiate your app, offering unique features or an improved user experience that sets you apart from the rest.

2. Planning the App Development Process

Determine the core features, functionalities, and user interface elements that align with your target audience’s needs and preferences. Establish clear goals and objectives to build a saving and investment app like Acorns. It ensures your development process stays focused and aligned with your vision.

Creating a development timeline and budget is crucial for a successful app launch. Hire dedicated developers who break down the development process into key milestones, allowing for flexibility and potential revisions along the way. Consider factors such as app design, coding, testing, and deployment.

Simultaneously, calculate the budget required for development, marketing, and ongoing maintenance. Ensure you have a clear understanding of the financial resources needed to bring your app to life and sustain its growth.

Being realistic with your timeline and budget will set you up for a smoother development process and a successful app launch.

3. Design and User Interface Considerations

When you start to build a saving and investment app like Acorns, the user interface is crucial. You want to create an interface that is intuitive and user-friendly, making it easy for users to navigate and understand the app’s features. Simplify the design and focus on presenting key information clearly and concisely.

• User-friendly Interface
• Prioritizing a seamless and intuitive design.
• Enhancing user experience for increased engagement.
• Clean Design Aesthetics
• Focusing on a visually appealing design for user satisfaction.
• Minimizing clutter for a pleasant interface.

Choosing the Right Visual Elements and Branding for Your App

Element	Description
Logo	Unique symbol or text that represents your app
Color Palette	Set of colors that define your brand’s identity
Typography	Fonts and text styles used consistently
Iconography	Visual symbols or icons for navigation or actions
Images/Graphics	Illustrations or photos reflecting your brand
UI Components	Buttons, forms, and other interactive elements
Layout Structure	How content is organized and presented
Mascot/Character	Optional, adds personality to your brand
Animations/Transitions	Dynamic visual elements for a seamless experience

4. Building the Backend and Integrating APIs

Selecting the right technology stack is crucial for a robust backend to build a saving and investment app like Acorns. Consider factors like scalability, security, and ease of integration when choosing the programming languages, frameworks, and databases for your app.

By using a reliable technology stack, you can ensure that your app functions smoothly and can handle a growing user base without compromising on performance.

You’ll need to connect with an ewallet app development company to build a saving and investment app like Acorns. It implements essential backend functionalities such as user authentication, account management, transaction processing, and data storage.

Additionally, integrating with financial APIs that provide real-time market data and investment options is vital. Collaborating with trusted financial institutions or third-party services can help you offer various investment opportunities to your users.

5. Testing and Quality Assurance

Before launching your app, it’s crucial to thoroughly test its functionalities and user experience. Hire mobile app developers to create a comprehensive testing strategy that covers unit testing, integration testing, and user acceptance testing. By testing your app on different devices and platforms, you can identify and fix any bugs or inconsistencies before they reach the hands of your users.

Conducting Rigorous Quality Assurance to Ensure App Stability

• Conducting comprehensive testing for functionality, security, and usability.
• Identifying and addressing potential issues before launch.
• Beta Testing
• Engaging users in beta testing for real-world feedback.
• Iterating based on user suggestions for continuous improvement.

 

6. Launching and Marketing the Savings and Investment App

Launching your savings and investment app requires careful planning and execution. Consider creating a pre-launch buzz by leveraging social media platforms.

Additionally, on demand app development company devise a marketing plan to target your app’s intended audience and show its unique features. Keep in mind that a successful app launch is just the beginning, and continuous marketing efforts will be essential for ongoing growth.

Implementing Effective Marketing Strategies to Attract Users

• Strategic Marketing Campaign
• Planning a comprehensive marketing strategy for app promotion.
• Building anticipation and generating interest before launch.
• App Launch
• Releasing the app on various app stores.
• Leveraging multiple channels for maximum visibility.

To attract and retain users, implement effective marketing strategies tailored to your target audience. An ideal Android app development company utilizes digital marketing channels such as social media, content marketing, and search engine optimization to increase app visibility.

Consider partnering with relevant influencers or offering referral programs to incentivize user acquisition. Keep your marketing efforts creative, engaging, and consistent to build a strong user base for your saving and investment app.

Types of Investment Apps

Before to build a savings and investment app like Acorns, you should know about types of investment apps that can be broadly categorized into the following:

• Robo-Advisors: Automated investment platforms that use algorithms to create and manage diversified portfolios based on user preferences and risk tolerance.
• Stock Trading Apps: Platforms focused on buying and selling individual stocks and securities, often providing real-time market data and analysis tools.
• Cryptocurrency Apps: Apps dedicated to buying, selling, and managing cryptocurrency investments, offering a range of digital assets.
• Micro-Investment Apps: Apps that enable users to invest small amounts of money, often through features like round-ups or recurring micro-investments.
• Retirement Planning Apps: Apps designed to help users plan and manage their retirement savings, providing insights into optimal contributions and investment strategies.
• Real Estate Investment Apps: Platforms that allow users to invest in real estate, either through crowdfunding or by directly owning shares in properties.
• Peer-to-Peer Lending Apps: Platforms connecting investors with borrowers, allowing individuals to lend money and earn interest.
• Social Investing Apps: Platforms that incorporate social and community features, enabling users to share investment strategies, follow others, and learn from the community.
• Educational Investment Apps: Apps focused on providing educational content about investing, financial literacy, and market trends to empower users to make informed decisions.

Must-Have Key Features to Build a Saving And Investment App 

Here are some key features you might consider incorporating into a savings and investment app similar to Acorns:

• Round-Up Transactions: Automatically rounds up everyday purchases to the nearest dollar and invests the spare change.
• Automated Investing: Enables users to set up automated recurring investments at specified intervals.
• Diverse Investment Portfolios: Offers a variety of investment options, including stocks, bonds, and ETFs, tailored to user preferences and risk tolerance.
• Goal Setting: Allows users to set financial goals, whether it’s saving for a vacation, emergency fund, or long-term investment, and tracks progress towards those goals.
• Portfolio Management: Provides tools for users to monitor and manage their investment portfolios, with insights into performance and asset allocation.
• Educational Resources: Offers educational content on investing, financial planning, and market trends to empower users to make informed decisions.
• Security Features: Implements robust security measures to protect user data and financial information, including encryption and multi-factor authentication.
• User-friendly Interface: Develops an intuitive and easy-to-navigate interface for a seamless user experience.
• Bank Integration: Integrates with users’ bank accounts for easy fund transfers and to track income and expenses.
• Notifications and Alerts: Sends timely alerts and notifications for account updates, market changes, or investment milestones.
• Customizable Settings: Allows users to customize their investment preferences, risk levels, and round-up settings.
• Performance Tracking: Provides detailed insights into investment performance, returns, and historical data.
• Customer Support: Offers responsive customer support to assist users with any queries or concerns.

How Much Does Cost to Build a Saving and Investment App Like Acorns

The saving and investment app development cost can vary widely based on several factors, including the app’s complexity, features, platform (iOS, Android, or both), and the development team’s location.

Here’s a rough breakdown:

• Basic App: For a simple savings app with basic features, you might be looking at a starting cost of around $10,000 to $20,000.
• Intermediate App: If you want to include more advanced features like investment tracking, goal setting, and basic analytics, the cost could range from $20,000 to $50,000.
• Advanced App: For a fully-featured savings and investment app with complex functionalities, real-time market data, secure transactions, and a user-friendly interface, the cost can go beyond $50,000 and can even reach six figures or more.

Remember, these are just rough estimates and the actual Acorns app development cost can vary based on your specific requirements, the development team’s rates, and any additional services you might need (like app maintenance and updates). It’s always advisable to consult with app development professionals to get a more accurate estimate based on your project details.

Examples Of Successful Investment Apps 

These examples show a variety of successful investment apps, each with its unique features and success factors that have contributed to their popularity and user adoption.

Here are examples of successful investment apps along with essential details:

1. Robinhood

• Type: Stock Trading App
• Key Features: Commission-free trading, user-friendly interface, fractional share investing, options trading.
• Success Factor: Popularized commission-free trading, attracting a younger demographic.

2. Acorns

• Type: Micro-Investment App
• Key Features: Round-up transactions for automated investing, diversified portfolios, and educational content.
• Success Factor: Simplified investing by allowing users to invest spare change from everyday purchases.

3. Wealthfront

• Type: Robo-Advisor
• Key Features: Automated portfolio management, tax-efficient investing, personalized financial planning.
• Success Factor: Uses advanced algorithms for optimal, low-cost investment strategies.

4. Coinbase

• Type: Cryptocurrency App
• Key Features: Wide range of cryptocurrencies, user-friendly interface, and educational resources.
• Success Factor: One of the largest and most trusted platforms for buying and selling cryptocurrencies.

5. Betterment

• Type: Robo-Advisor
• Key Features: Automated investing, goal-based portfolios, tax-efficient strategies.
• Success Factor: Focus on long-term goals and personalized investment plans.

6. Stash

• Type: Micro-Investment App
• Key Features: Fractional shares, thematic investing, educational content.
• Success Factor: Aimed at making investing accessible to a broader audience with small amounts.

7. Fundrise

• Type: Real Estate Investment App
• Key Features: Crowdfunding for real estate, diversified portfolios, low investment minimums.
• Success Factor: Allows individuals to invest in real estate with relatively low entry points.

8. LendingClub

• Type: Peer-to-Peer Lending App
• Key Features: Connecting investors with borrowers, automated investing, and diversified loan options.
• Success Factor: Pioneered the peer-to-peer lending model, offering a new way to invest and borrow.

Final Words

If you want to build a saving and investment app like Acorns, it requires careful planning, strategic development, and thorough testing.

By understanding the features and functionality of successful apps like Acorns, conducting market research, and prioritizing user experience, you can create a powerful financial tool that empowers users to save and invest for their future.

Remember to focus on delivering a seamless and intuitive experience, integrating essential backend functionality, and implementing effective marketing strategies to attract and retain users.

FAQ: Steps to Build a Saving And Investment App Like Acorns

1. Can I build a saving and investment app like Acorns as an individual developer?

Yes, it is possible to build a saving and investment app like Acorns as an individual developer. However, it is important to note that building a comprehensive and robust app requires a diverse skill set and significant time and effort.

2. What are the key features that users expect in a saving and investment app?

Users expect saving and investment apps to have features such as automated round-up investments, diversified portfolio options, goal-based savings, real-time tracking of investments, and personalized financial advice.

3. How important is user experience in a saving and investment app?

User experience plays a vital role in the success of a saving and investment app. A well-designed and intuitive interface enhances user engagement and encourages users to actively manage their finances. Prioritize simplicity and ease of use, ensuring that users can navigate the app effortlessly and perform essential tasks with minimal effort.

4. What are some effective marketing strategies to promote a saving and investment app?

Some effective marketing strategies to promote a saving and investment app include creating engaging and informative content, leveraging social media platforms for targeted advertising, collaborating with influencers and bloggers in the personal finance niche, offering referral programs or incentives, and utilizing email marketing campaigns to nurture and retain users.