Success stories: FinTech app ‘Mint’ is a personal money management app with 10 million users

We already mentioned Wealth Management as one of the biggest fintech trends, and here is one of WM best representatives. A fintech startup Mint – your money champion and free personal money management app. Mint grew to 10 million users and sold for $170 million in just 2 years. Also, Mint was chosen as the best-presenting company at TechCrunch40.


RoveTek makes some research on how this fintech product could take off that quickly.


“That was the idea behind mint. Make it dead simple to get your finances in order and to feel in control of your life.” – Aaron Patzer, Mint founder.


From the beginning, the launch strategy differed from other startups. Its founder, Aaron Patzer, thinks that not an idea is the most important but execution. 


Aaron Patzer took a different approach:


“Number one is to validate your idea. I actually didn’t write a line of code until I did about three or four months’ worth of thinking on Mint, which I think is counter to what a lot of people will suggest. A lot of people will say ‘Just get the product out there, just iterate very, very quickly, (and) just make a prototype.’ That works for certain types of things; I think anything that is social…that works. But for finance, I wanted to be a little more rigorous and there were a lot of technical problems, connectivity to all of the banks, and the business model.”


Mint app has a very neat and usable design. It uses just a few colors – green, white, black as base colors, and highlights in different graphics. The app brings the opportunity to manage all your personal spendings, savings, investments, and even subscriptions to Netflix. Thanks to this FinTech app, users help save money by continually searching for deals on credit cards, bank accounts, etc.

Mint Fintech App

Competitive Uniqueness and Growth Strategy


Mint stands out from its competitors, and the main reason Mint took off quickly and successfully is great customer research. Before launch, they gathered feedback on competitors’ weaknesses and customers’ expectations. Consequently, Mint improved those features that their competitors have troubles with – easy account set up, categorized expenses, and life planning software features (called ‘gem’). 


Mint also focused on content strategy, became #1 in personal finance, and drove good traffic to the app itself.



Want to create your own success story? Build digital finance products with RoveTek!


Give us a shout if you want your FinTech app to make another success story! 


Best telehealth apps 2021 to visit a doctor in few clicks

Healthcare embraces the trend on remote, and thanks to telehealth apps patients can visit their doctors from the comfort of their home and any location. Telemedicine is one of the biggest trends in eHealth, and many good examples are already in the market. We created a list of the best telemedicine apps for 2021 and beyond.


According to Statista, the global telemedicine market is expected to reach more than $41 billion by 2021. There are no signs of stopping, with telehealth reaching $130.0b by 2026. 

So, let’s take a look at the telemedicine apps, its benefits, and the best examples available in the market.

12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)

Some words about telehealth apps


Before moving to the list of medicine apps, let us mention how these apps supposed to look and operate. 


Why use telemedicine apps?


The primary purpose of telemedicine is to allow patients to consult with doctors remotely. Especially during the lockdown, the ability to visit your doctor from the comfort of your home is handy. Hospitals can increase revenues, cover more patients, and decrease costs. 

Remote health is possible mainly because of the telemedicine apps, and the number of telehealth apps is growing. In the near future, most hospitals will use telehealth apps to reach out to patients remotely. 


Benefits of the telehealth apps:


– Prompt patient treatment. As patients have access to remote telehealth apps, healthcare will be quick and effective. 

– Data storage. Telehealth apps are accurately storing patient’s data and track all information. 

– Healthcare availability 24/7. No surprise, thanks to apps, patients can get access to hospitals and medical consultations anytime.

– Patient mentorship. Patients get a complete package of medical assistance and mentorship thanks to follow-up appointments, reminders, tracking, etc.

– Automated processes. Bureaucratic processes are automated, and paperwork is decreased.  


Let us show you some outstanding examples of telemedicine apps.



Telehealth apps

iPhone rating: 4.7 stars

Android rating: 4.7 stars

Price: Free


This is a famous app for behavioral health therapy services and psychiatry. Patients can easy connect licensed doctor in this field in just 15 minutes. The app is for non-emergency cases, and the patient’s primary care isn’t available.


Lemonaid: Same Day Online Care

Telehealth apps

iPhone rating: 4.9 stars

Android rating: 4.5 stars

Price: Free


This app is free to install, but patients need to pay a small fee of 25$, patients can get access to professional consultations and get a diagnosis and treatment. The wait time is no more than 2 hours. Also, patients can get fast delivery from the Lemonaid Pharmacy.


LiveHealth Online Mobile


iPhone rating: 4.9 stars

Android rating: 4.5 stars

Price: Free


This app has a diverse selection of qualified doctors, whom patients can reach out anytime just in a few clicks fast sign up. The app also provides a wide selection of medical services, from flu and bronchitis to allergies, skin infections and more. The app also features licensed therapists, breastfeeding consultants, nutritionists, and other professionals.


PlushCare: Video Doctor Visits


iPhone rating: 4.9 stars

Android rating: 4.6 stars

Price: Free

Like other telemedicine apps in this list, patients can book an appointment just in few clicks. According to PlushCare, to provide patients with the best possible care, they select doctors from the top 50 US healthcare providers. Each physician goes through an extensive interview process and is certified by the US Board of Directors, and believe that the extra diligence associated with hiring the best doctors is worth it because providing high-quality medical care is our priority.


Doctor on Demand


iPhone rating: 4.9 stars

Android rating: 4.9 stars

Price: Free

Doctor on Demand is the fastest and easiest way to see a doctor or psychologist via the Internet on your computer, tablet or phone – without leaving your home. The app’s providers are licensed doctors, psychiatrists and psychologists who can treat hundreds of online problems with videos. Your doctor will review your medical history and symptoms, conduct an examination, and recommend treatment.


Amwell: Doctor Visits 24/7

Telehealth apps

iPhone rating: 4.9 stars

Android rating: 4.3 stars

Price: Free


Thanks to this app patients get high-quality medical care upon request. You can schedule appointments, often with the opportunity for the next day. Amwell services range from $ 69 or less for emergency care to $ 200 for an online psychiatry visit before insurance.


Spruce – Care Messenger


iPhone rating: 4.9 stars

Android rating: 4.8 stars

Price: Free


As you see, the Spruce has very high ratings and positive feedback with a user-friendly dashboard design for both doctors and patients. The app has secure data storage, and users can protect your private medical information through HIPAA laws. The apps provide messaging tools, videos and audios, health questionnaires, and other tools to satisfy the patients’ medical needs. 


To conclude


This is not a full list of the best telehealth apps you can find on the market. We picked these due to their high ranking in the stores, intuitive design, great functionality, and overall value they bring to patients. 

Discuss with us your telehealth or eHealth app! Reach out to RoveTek now and launch your idea with us!


10 FinTech trends to watch in 2021+ (Based on Deloitte Report)

2021 promises us to bring recent fintech trends and solutions as previous years skyrocket online sales and trust to e-banking. The fintech market is on its growing stage. Even though implementing new technology is a risk, a considerable wealth opportunity motivates proactive executives to embrace fintech innovations (as Deloitte said). 


The challenges we faced during 2020 connected people with technologies, and shifted trust to online payments and banking to positive. Many consumers (especially millennials and gen Z) choose online banking and trust online payments like Amazon Go. Pandemic time also shifted to cashless payments, as it’s more hygienic. We use our bank cards and less cash. So, our will to be more aware of proper hygiene influences cashless payments. Consumers are open to the idea of on-demand finance because of mobile and cloud computing. 


FinTech Trends


The recent report by Statista claims that the global growth in the use of financial apps during COVID-19 was the largest in Japan, at 55%. South Korea (35%), the USA (20%), China (20%), Germany and Italy (15%) followed. Before the pandemic, global investment in fintech was also on the rise. Despite a slight decrease in assets in 2019 by $ 137.5 billion compared to $ 141 billion in 2018, FinTech has shown positive growth in most of its sectors.


According to Deloitte, the financial technology sector is “red-hot, with traditional financial institutions increasing their fintech investments and competing with startups to offer financial services products faster and more efficiently.”


Financial services ready for transformative change; both mega-corporations and startups are investing in fintech investments.


Fintech trends for 2021 and beyond are the following:



1. Financial firms are more open to fintech 


“A large number of our clients are taking aggressive action to determine how they can use these technologies within their ecosystems,” a managing director and head of innovation for Deloitte & Touche LLP’s financial services businesses Krishna said.


As consumers are more open to online banking or online payments, financial firms and institutions embrace technological advances and digital transformation in the financial sector. 


Financial institutions too often deal with fintech in a very inefficient, fragmented and tactical manner. The companies that succeed have undertaken carefully architecting their transformation strategy, including integrating fintech within their organization. Murray Raisbeck Global Co-Leader of Fintech, KPMG International and Partner, Insurance KPMG in the UK.


2. Blockchain is a big fintech trend


According to Deloitte, blockchain eliminates the need for a central intermediary to transfer assets, so the transfer of assets is not limited to money. Blockchain also increases efficiency. Payment transactions usually go through a central intermediary that uses several steps to authenticate and authorize the person who is allowed to send that amount, transfer the details of the transaction, and actually settle. Calculations can take two to three days. 


Prakash Santhana, a managing director in Deloitte Transactions and Business Analytics LLP also stated that the third benefit of blockchain is an audit trail. Blockchain relies on a distributed database. All information is duplicated in each copy of the database, and all data is publicly available. You can enter the blockchain ledger and, since it is immutable, prove that the transaction took place and be sure that the record has not been changed or corrupted while it is in the distributed ledger. As a result, many sectors of the financial services industry can improve productivity by using this technology to improve transaction speed and transparency.


3. Regulators are interested in fintech


According to Krishna, regulators actively seek to create sandboxes to test scenarios and determine how the system can solve problems.”


According to KPMG, fintech is a priority for asset management firms, where technologies help win the competition. Fintech offers various opportunities and greater efficiency in transactions. 

In recent months and years, we have seen regulatory bodies worldwide attempt a careful balancing act. On the one hand, regulators recognize the need for innovation. They are working to support and encourage fintech activity through actions such as framework changes and regulatory sandboxes’ creation. On the other hand, there are significant concerns that existing risks, especially surrounding cybersecurity and fraud, are becoming heightened by fintech’s growth.


In recent years, regulators around the world are trying to balance the situation carefully. The regulators recognize the need for innovation and are working to support and encourage fintech activities such as restructuring and creating regulatory sandboxes. There are serious concerns that existing risks, especially those related to cybersecurity and fraud, are amplifying as financial technology grows.


4. Implementation influence operational challenges


Krishna claims that fintech and other new disruptive technologies are causing a stir, but there are changes in the existing design and new implementation and deployment challenges along with them. Regardless of how transformative these technologies will be; reality leads to operational difficulties such as’ What problems are you solving first? How do you solve them without affecting other businesses? Financial instruments now have to figure out how to use the preliminary and long-term influence on new system processes. It’s always more complicated than you think, but the strategic risk can pay off big. 


5. The industry understands that this is a marathon, not a sprint


“There was a lot of hype in this area, and there was a lot of venture capital,” says Krishna. And, adds: “There is both expectation and concern about what these technologies can do in the financial services industry. Many of the conversations we have with clients have an end-of-the-start atmosphere as there is some fatigue and frustration in keeping up with all the latest companies and technologies. “


There are several issues to consider, for example:


  • Will these new services be replaced by the existing architecture or offered in parallel?
  • Are the benefits promised by the latest technology improving existing products, or are they just adding features and complexity that no one is really looking for?
  • What architectural or technological changes need to be included in strategic planning?
  • In what areas of the business should fintech investments be directed?


Fintech trends


These were fintech trends by Deloitte, and here are some insights on trends from our team at Rovetek.


6. Financial literacy solutions fintech trends


There is a significant demand for managing financers online, so this is an ample opportunity for fintech startups related to financial literacy. 

The survey by EY claims that the consumer awareness of FinTech services in the five key categories is reported to be the following:

Fintech trends

Source: EY – Global FinTech Adoption Index 2019


The trend on financial literacy is not new, but thanks to a huge increase in online payments and fintech growth, financial literacy apps’ need have become inevitable. Apps can easily integrate your data and financial expenses in your mobile, etc. So many options for fintech apps.


7. Digital-only banks


FinTech Trends


This is a big fintech trend that started to grow in recent years. Just some years ago, it was hard to believe that we will put money and make purchases in the banking app, which doesn’t even have a physical department. 


The number of bank visits to banks will decrease by 36% from 2017 to 2022, while the number of mobile transactions will grow by 121% over the same period. Many banks have embraced digital transformations and offer their consumers top-notch web or mobile banking versions. But, there are those which don’t have any departments, just apps. 


The main reason why people are moving from ‘conservative and bureaucratic’ banks is that consumers want banks to become more user-friendly, accessible, and convenient.

In other words, consumers want banks to be more fun. Another reason is the queues. Digital banks and online banking apps are more comfortable in use. 


8. Cybersecurity in fintech


Another fintech trend in 2021 is the enhancement of cybersecurity. The activity in online payments is continually growing and hacker attacks are increasing. First, fintech companies or banks must deliver high-level transaction, data security, and general security service.


9. Biometric security systems


Following the cybersecurity trend, to secure our data and transactions, banks use biometric security systems. With a simple finger touch, clients can unlock their online banking applications or conduct payment transactions. This approach takes online security to another level. The popularity of biometric sensors that involve physical contact is predicted to decline. While the general increase in the use of biometric technology for identity verification, contactless solutions will take over the touch-based fingerprint reader market. Because of the COVID-19 pandemic, it is recommended to avoid cash, which increases the growth of the biometric payment card market. 


10. WealthTech


Another fintech trend is related to financial management solutions. Especially during the lockdown, this trend has ‘flourished’. WealthTech funding reached $ 1.7 billion in the first quarter of 2020, according to Fintech Global. The shift to online business influences the appearance of more digital services for managing personal and corporate finances. AI and Big Data will give us even more effective financial solutions for financial management shortly.


An example of Wealthtech services is Robo Advisors – the automated platforms use algorithms and machine learning to help investors make critical financial decisions.


FinTech Trends


Bottom Line


According to the KPMG report, The industry is developing rapidly. The financial products and services and the technological infrastructure underlying financial institutions will look significantly different in a decade compared to what they look like today. The last 5 years have presented a level of violation that has never been observed before. Opportunities for new financial technologies companies to quickly gain momentum global financial services market forcing financial institutions to stay competitive. They must accept customer-centric innovation and back-office solutions to help them provide a more personalized value-added approach to experience working with clients. New competitors (both in uniform fintech startups and technology giants reacting to opportunities add value) and new solutions catalysts for industry change have long been defined by tradition.


From AI, automation and augmented reality for cloud, internet of things and data analytics, fintech transforms financial services. Financial institutions that are in no rush define your fintech strategy and agree it will be better for their business purposes positioned to help create future Financial services.


We, at RoveTek, deliver top-notch solutions in web & mobile development to our clients in the FinTech domain. Let’s start a journey of digital transformation for your FinTech project with RoveTek!


12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)

The Healthcare sector has long embraced technological advances and digital transformation. But, 2020 forced healthcare to boost these changes further. The world and our attitude towards our health and healthcare system will never be the same. What changes in healthcare are we having already in 2021? To know this, let us share with you some digital healthcare trends that indicate what technologies are bound to reshape it.


We managed to find these 12 healthcare trends that effectively use technology and digitalization. 


The primary influence on eHealth in 2021 and the future is the global pandemic caused by COVID-19. According to a new analysis from McKinsey & Co., there are six healthcare trends to watch in the post-COVID-19 crisis.


So, let’s see the McKinsey & Co six trends in healthcare and how they will influence eHealth.

12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)


1. Reform


This trend can divide into three main dimensions: abandoning the rules of the COVID-19 era, which may become permanent; actions that can be taken to strengthen the health system in response to pandemics; and reforms to overcome the COVID-19 crisis.


In order to fight the pandemic, the Centers for Medicare & Medicaid Services has introduced around 190 waivers to influence medicine and healthcare financing. Most of these measures are relevant during the crisis. Actions are taken to improve the healthcare system’s resilience, make it less overwhelmed, and enhance the baseline health of the whole population. There is an impact on the economy and financing healthcare. In some cases, exposure to COVID-19 could cause about 10 million Americans to lose employer-sponsored health insurance by the end of 2021. So, the government should take this into consideration and conduct reforms in healthcare. 


How is this going to reflect in eHealth?


The main goal of the reform is to overcome the next possible pandemic and enhance healthcare, making it accessible for all so that healthcare will embrace technological advances even more, A.I. and Big Data are also to shift the processes in the healthcare sector to cover more patient care’s information and help medical workers. 


2. Health for all


12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)


The worldwide pandemic has proved that healthcare access must be equal as it reflects all of us. Globalization and the ability to travel cause high risks to spread different diseases, so healthcare should be accessible for the whole world. Only in the U.S., around 10 million people have low physical access to healthcare.


How is this going to reflect in eHealth?


Focus on such healthcare trends as telemedicine brings an opportunity to get access to your doctor from any part of the planet. Also, using healthcare apps can help cut expenses on visiting a doctor or getting the necessary information.


3. The era of exponential improvement unleashed


12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)


This trend is connected to technology in healthcare. Innovation based on technologies may improve our understanding of patients, make it possible to provide more comfortable personal assistance and create by 2025 the annual cost from 350 to 410 billion dollars.


How is this going to reflect in eHealth?


The analysis made by McKinsey & Co-presented in Telehealth: A quarter-trillion-dollar post-COVID-19 reality? shows that the healthcare sector, primary care and behavioral health practices are reporting more than 50 to 175-fold increases in telemedicine visits, and the potential size of the virtual care market could reach about $ 250 billion.


4. The big squeeze


According to McKinsey & Co, COVID-19 could reduce healthcare industry profits by $ 35 billion to $ 75 billion from baseline expectations. However, some high-growth, technology-driven segments will disproportionately drive growth. These fast-growing areas are expected to stagnate or shrink by more than 10 percent, as in other segments. 


How is this going to reflect in eHealth?


The crisis in the healthcare industry will lead to the continuous growth of eHealth. These technology-driven innovative sectors are telehealth and virtual care, home health, eHealth software and platforms or mobile applications.


5. Fragmented, integrated, consolidated care delivery


Following the previous trend, the healthcare sector is shifting care out of hospitals which COVID-19 influences. According to McKinsey & Co, this is a new normal to deliver care to “the patient through digital and analytics across patient-centred ecosystems”. In other words, the patients are increasingly choosing to receive care across settings across many healthcare ecosystems that are digitally and analytically connected.


How is this going to reflect in eHealth?


This diversity in healthcare channels will skyrocket virtual care and different digital channels that ‘distribute’ care to patients. 



The McKinsey graphic below shows how “virtual care and outpatient options show more potential revenue growth through 2022.” And, this will lead to high growth of the eHealth market. 


Healthcare tech trends


6. Next-generation managed care accelerated


Payers using the next-generation managed care model (through deep integration with service delivery) perform better financially, earning an additional 50 basis points of profit before interest, taxes, depreciation and amortization above expectations.


How is this going to reflect in eHealth?


According to McKinsey, these healthcare trends will dominate in the post-COVID-19 years. The changes that healthcare has embraced are shifting healthcare towards virtual care, telemedicine, and technology-driven patient’s care. 


To be more specific, RoveTek would like to share with you the following eHealth trends or digital healthcare trends for 2021 and beyond (in addition to those from McKinsey).


  • digital health
  • artificial intelligence and big data
  • the internet of medical things
  • telemedicine
  • virtual / augmented / mixed reality
  • wellness and medical apps


7. Digital Health


Digital transformation in healthcare is a new necessity in adaptation to the new realities. And healthcare will embrace new technology tools. Consumers will have an opportunity to get access to care anytime and anywhere using Zoom or so. There will be a high demand for tools for delivering remote services or ‘remote care’ to attract more patients, particularly for behavioral health.  


Digital health leads to:

–  Growth in demand for the eHealth digital products. eHealth market is expecting high growth and 

– Digital health hubs and startup ecosystems. Growth leads to the emergence of healthcare startups and different hubs. 


According to Statista, the global digital health market is expected to grow to over USD 500 billion by 2025. During this time, the healthcare IT segment is expected to generate the largest share of revenues, reaching approximately U.S. $ 280 billion by 2021. 


Statista claims that mobile health, in particular, is experiencing an upward trend as consumers demand greater accessibility for their healthcare providers and transparency in healthcare becomes increasingly essential. Better healthcare spending is also important for many consumers, where 43 per cent of consumers say the ability to cut their own healthcare costs drives their adoption of mHealth apps and services.


So, this is definitely the right time to invest in digital healthcare products. Especially this related to mobile healthcare applications. 


8. A.I. and Big Data


According to Accenture, A.I. in medicine “is its new nervous system” and can save up to $ 150 billion annually in the USA only by 2026. As virtual health is on its rise, more patients will access healthcare, and more data will be stored in the cloud. A.I. is helping healthcare process big data and deliver personalized care to patients. 


A.I. robotics is already used in nursing and caregiving. The most well-known A.I. Technology in medicine is chatbots (or virtual health assistants), but also A.I. is used in cybersecurity and data protection, workflow optimization, precision medicine, and so on. In diagnosis, doctors use A.I. for AI-based image recognition to track different diseases or valuable data about the patient. 


9. The Internet of Medical Things and Wearable Devices


These devices help clinicians monitor patients outside the hospital, track recovering and so on. The necessity of distance care has been caused by various factors. IoMT for the elderly is one of the most demanding applications, as the occupation of the U.S. and Europe is ageing, and this is a big pressure on healthcare. With wearables, doctors take care of the elderly from a distance. The COVID-19 pandemic shows us how important it is to deliver healthcare anywhere, and patients should have the opportunity to get access to care from home. 


The most popular wearable technologies are fitness trackers, weight trackers, and other wellness or healthy lifestyle monitoring devices. This is a very convenient way to get results faster.


12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)


10. Telemedicine


Telemedicine brings patients the ability to get consultations anywhere with a stable Internet connection and access to video chat platforms. The global telemedicine market is expected to be worth $113.1 billion by 2025. This is an easy way to get necessary consultations as fast as possible and relevant for patients who live far from hospitals.


12 Digital healthcare trends 2021 and beyond (with McKinsey & Co report)


11. VR and AR in Medicine


Virtual reality and augmented reality in medicine give various crucial advances. The market is to reach $ 5.1 billion is to reach $ 5.1 billion by 2025. These technologies can model different conditions. 


In surgery practices, V.R.’s most crucial impact is 3D technology to reconstruct organs in motion. In education, VR/AR help in practising in real-time. And, this is not the complete list.


12. mHealth: wellness and medical apps


Wellness mobile applications became a part of our every life. Many of us use fitness trackers and apps as training coach. 


The medical or wellness mobile apps can be pharmaceutical, dieting, dedicated to stress reduction, and practical for menstrual period tracking or pregnancy. Hospitals can use apps for appointment management, hospital or doctor selection, providing content, etc.


On the graphic, Statista report shows the projected mobile health market size worldwide from 2016 to 2025. The total global mHealth market is predicted to reach nearly 100 billion U.S. dollars in 2021. That would be a fivefold increase from around 21 billion dollars in 2016.


Medical app


To conclude


eHealth and mHealth are super-fast growing industries that will skyrocket in the near future. Visiting your doctor on mobile or studying surgery with the help of 3D is no longer top-notch trends but a new reality of medical care.


We, at RoveTek have solid expertise in the healthcare and wellness sectors, delivering top-notch solutions in web & mobile development to our clients from hospitals to healthcare apps. Let’s start a journey of digital transformation for your healthcare project with RoveTek!