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Fraud Detection In Banking With Machine Learning

Artificial Intelligence and machine learning- this technology have a significant impact on almost every field, and now it is helping the financial sector to go through one of the most significant transformations ever. The financial industry is becoming pretty advanced every day, and there have been a lot of changes lately. With the help of technology, the tasks that employees usually take some days to complete are done within some seconds. And this indeed is some severe transformation.

However, technology has also resulted in an increased number of frauds in the banking sector. Now, everything that a person needs regarding their bank details is available on their phones and their laptops. This scenario makes it easy for hackers to get into the device and steal the amount. Vast amounts of money are at stake with these kinds of frauds, and people are going through a lot of stress just because of it. This particular case is where machine learning is going to step in.

This technology can detect frauds and protect customers from potential dangers. It is common to have a question popped in your brain- how machine learning in finance and banking helps in scam detection? This article is going to discuss the same. You will get to know everything you need to know about fraud detection and what you can do to handle it.

Fraud Occurrences and Statistics

The cybercriminals are getting smarter every day. And they are leveraging the same technology that has been helping customers for their advantage. The banks and other financial institutions have no other option rather than employing more advanced tactics to curb the frauds. The business firms are spending more and more money with every passing year so that they can control these kinds of fraud. While it is helping in some instances, it is not as effective, and people are still falling prey for various types of fraud from time to time.

While there are various ways to fall prey for fraud detection, one of the most common issues is credit and debit card fraud. With the increase in eCommerce shopping and online money transfers, the number of people who are falling prey for fraud is increasing with every passing day.

According to Statista, the online fraud amount that has been lost by Americans in 2015 is 1.1 billion USD, and it reaches 3.5 billion USD by 2025. More than 82% of companies have fallen prey to this card fraud, and the amount of loss is increasing with every year passing by.

The direct cost frauds are also impacting companies as they lose sales when genuine transactions are declined because of fraud management. The companies now have a more significant task before them, and they have to differentiate between legitimate and fraudulent transactions without affecting customer experience in any way.

Digital Solution For Online Fraud Detection In Banking

Bankers approached this issue manually using a set of rules. This case means that they will use a complex set of criteria for suspicious flag transactions that need to be reviewed manually.

This process is useful to discover fraud detection in the banking sector, but it is not something that you can rely on. It won’t detect the frauds, and this has become another excellent chance for cybercriminals to make use of it. The banks and other financial institutions now have to get ahead of the criminals and use advanced options like applications of machine learning in finance and banking.

How Machine Learning Helps Fraud Detection in the Banking Sector?

Banks have vast volumes of customers’ data, and this is something that will help them understand and analyze the patterns. The financial sector can apply the same data and use machine learning to flag any kind of fraudulent transactions with ease. They check for any type of inappropriate behavioral patterns and file them immediately. This scenario will help them in keeping things under check without the requirement of human intervention.

Machine learning is always a step ahead when compared to the cybercriminals, and it keeps an eye on any kind of newly adapted technique by the fraudsters. As the accuracy of machine learning increases, it becomes capable of identifying the false and incorrect flagging too. There can be some genuine incidents which are flagged because of some mistake, and the machine learning can identify them also and ensures that these kinds of errors won’t happen again.

Now, the firms will have a chance to mitigate their financial losses and protect their reputation as well without causing any kind of problem for customers. It improves customer confidence in the organization, which is something that they need.

How ML-Based Fraud Detection Works?

Earlier, you have understood the leading theory behind why to implement machine learning. Now, you are going to see how this machine learning-based fraud detection works and the process of fraud detection with machine learning.

Cybercriminals are relatively quick, and there is no other option for the bank rather than going with this machine learning. There are two types of fraud detection machine learning models which are known as –

  • Supervised machine learning
  • The supervised machine learning uses the already provided data by human beings during their detection and finds out similar patterns. It learns the intricate data patterns in the sets provided by the business and uses it for the further exposure of any kind of fraud. These are the methods for fraud detection using machine learning.

  • Unsupervised machine learning
  • This unsupervised machine learning, just like its name, uses the datasets that are not labeled, and it infers the inner data structure by itself.

Types Of Machine Learning Algorithms Used in Fraud Detection

Machine learning is a technique that adapts different types of algorithms to ensure that fraud detection is identified. It hugely depends upon the data provided by banks. Here is the list of algorithms that Machine Learning follows –

  • Logistic Regression
  • This is a model that checks the relationship between different variables in the data sets. This scenario can come in use to create an algorithm that will predict whether a particular transaction is good or bad.

  • Decision Trees
  • The decision trees come in use to create a particular set of rules that will help machine learning in identifying normal behavior. This scenario even helps with the training.

  • Random Forests
  • The random forests are an ensemble of decision trees. Multiple trees are classified and put under one robust classifier for better understanding.

  • Neural Network
  • Similar to its name, this algorithm depends on the working of a human brain. The neural networks are pretty powerful, and they can identify the fraud in real-time.

All of the above algorithms come in use in a supervised technique. In the unsupervised method, there will be clustered algorithms that will group all the similar data points together. They are mainly used for anomaly detection.

  • K-Means Clustering
  • This algorithm divides a dataset into different clusters. This algorithm works iteratively and assigns a different set of data points to a particular predefined number of classes. This case is dependent on the features present in a dataset.

  • Local Outlier Factor
  • This is an algorithm that calculates the local density of data points and allows in identifying the regions with similar frequency. This locality concept will help in identifying the locality points that will distinguish points with much lower density.

  • One-Class SVM
  • This learns a function that has been used in novelty detection. It detects the incidents that happened rarely and will notify immediately.

So this is how machine learning applications can help in banking and fintech. Machine learning is pretty advanced, but it still has a set of limitations. The process of fraud detecting with machine learning is useful when the right set of data is provided only. Machine learning feeds on the data only, and if the proper amount of information is not provided to it, it won’t work as required. There are various kinds of approaches that help in dealing with this problem.

Financial firms are overcoming this particular issue with the help of creating artificial data points that usually replace the original ones. They are using techniques like oversampling and undersampling. These techniques assist in developing data that will help in restoring original data.

Banks and financial institutes are using every method possible in order to create data that will help them with the research. The first stage here is automated, but the second stage process requires manual checking. This scenario may result in different kinds of human errors, and this is the reason why organizations should not use this process and adapt to a new and reliable one.

Key Takeaways

Cybercriminals are increasing with every day passing by, and they are participating in various kinds of fraudulent acts too. It has become essential for financial organizations and banks to implement machine learning to curb such a variety of issues. With banks and financial institutions, there is huge money at stake, and banks have to ensure that they provide proper safety to their customers and ensure that their money is safe.

If you are someone who wants machine learning-based apps or solutions, then get in touch with us. We at Technostacks, have been dealing with machine learning and AI app development for a long time and can provide tailored services depending upon your requirement.

Written By : Technostacks

When it’s a matter to develop a web application then Python will be the first choice in every developer’s mind. There are a number of top Python frameworks available that can make your web development task quite easy.

Python is undoubtedly one of the most popular programming languages that you find out there in the market. It is one of the best options if you are someone who wants to do web development. There is a valid reason why most of the programmers show interest in Python, and it is the simplicity of this programming language offered.

Although it is simple, it has been proven effective too. The data structure in Python is of high level, and when it is coupled with dynamic semantics as well as easy to understand syntax, it becomes a go-to option for the organizations.

This case is the reason why it has evolved as an ideal language for quick data analysis, web development, and scripting. The simplicity of this language requires a special mention here. Because of this simplicity, it has become pretty easy to reuse the code and modular programming. This scenario will help with cost-cutting.

The code readability, as well as proper use of whitespace, has made Python one of the most favored programming languages for the professionals. However, there is a catch here. Python does not have any accompanying built-in features, and it has become mandatory for the programmers to use frameworks.

These packages and modules will help them in writing website applications without any need for process management.

Top 10 Trending Python Web Frameworks In 2020

There are different types of Python web development frameworks, and in this article, you are going to see the top Python frameworks for 2020.

1. Django

Django

This is a full-stack development framework which is free and open source. The best thing about this particular framework is that it is pretty fast. The developers get a chance to work on the complex codes and applications rapidly as well as flexibly. This Django framework makes use of pragmatic designs to streamline the entire web application development process and make it even more useful. There is no doubt that Django is one of the best Python web frameworks in the present time.

Django has so many amazing features in it that helped it stand out when compared to the other Python frameworks present in the market. Some of its features are content administration, authentication mechanism, URL routing, template engine, and database schema migration. Above all, it also supports Oracle, PostgreSQL, MySQL, SQLite, etc. The support for these programs has resulted in its implementation in high traffic sites and various social media platforms like Instagram, Pinterest, The Washington Times, Bitbucket, Mozilla, and Disqus. In short, Django has evolved as one of the most reliable and sought out programming frameworks as it enables incredible effectiveness, hassle-free development, less coding, and reusability of fewer components.

The security of Django is something that needs a special mention. It offers excellent protection and ensures that the programmers steer clear of any kind of common mistakes like cross-site scripting, clickjacking, SQL injection, and forgery.

Some of the highlights of Django are:

  • Rich in features
  • High Speed
  • Secured
  • Versatility and
  • Scalability

2. Bottle

Bottle framework

This is a micro framework and is known for its minimalistic features. The primary use of this framework is to build web APIs. It is pretty small in size; however, its size does not have any impact on its performance. It is indeed one of the topmost platforms that people prefer.

The Bottle allows every web application to get executed in only one source file without depending upon any other sources. There is an exception for Python Standard Library. This framework is simple and pretty fast at the same time. It comes with the adapter support for third party template engines and WSGI/HTTP. In short, Bottle is a minimalistic and simple framework that can be used to build apps for personal use.

It is ideal and helps in figuring out the organization of web frameworks, prototyping, and is perfect for building various types of RESTful services. The best thing about this kind of Python framework is that it helps the developers to work closely with the hardware, and this is the reason why Netflix has been using it for its web interface.

Here are some of the highlights of Bottle:

  • Minimalism
  • Lightweight
  • Access to cookies, form data, HTTP metadata, and file upload.
  • It helps with requesting the dispatching routes with URL parameter support.
  • Supports database plugins.

3. Pyramid

Pyramid framework

The Pyramid is a renowned full-stack development framework and has been one of the go-to options for developers for a long time now. The framework has pretty high standards and is capable of making the decisions that programmers usually do. However, it is essential to provide a proper viewpoint to the framework so that it can function and make decisions accordingly.

If you are looking for the best Python frameworks to learn, then make sure to consider this framework because of the plethora of benefits it offers. The framework will keep making decisions until the web application grows. Once it achieves growth, it stops making decisions. The main aim of this framework is to develop the best web applications with less complexity and minimal resources.

The framework is perfect for various kinds of applications, but it is ideal for creating CMS. Apart from CMS, it is an ideal choice for handling API projects and prototyping.

The best thing about the Pyramid is that it is pretty lightweight and has the capability of handling different kinds of projects with utmost transparency and simplicity. Another important thing about this framework is that it is perfect for authenticity and authorization. The security arrangements are highly reliable and will simplify the process of assessment and setting up the application.

You can use other third-party resources to make the most out of the Pyramid.

Highlights of the Pyramid are

  • Function decorators
  • Single file apps
  • Traversal framework for URL to code mapping
  • Predicates and renderers

4. TurboGears

TurboGears framework

TurboGears is an open-source and data-driven full-stack framework that is built exclusively from the best breed elements that are available in the market. This scenario is the reason why it is one of the royal and goes to options for many organizations. The developers can come up with apps that are critical and are detailed correctly.

This TurboGears can help in creating protractile web apps that rely on various database connectivity elements like Genshi, SQLAlchemy, Repoze, and WebOb.

This Python web framework makes use of MVC style structure. Some of the highlights of TurboGears are:

  • Cross-platform OS
  • Multiple database support
  • Function decorator
  • Pylon support

5. Web2Py

Web2Py framework

Web2Py is a full-stack Python framework that has attracted developers from around the world. This is a scalable framework and has personally modeled IDE on the web. The best thing about Web2Py is that it is a cross-platform app with maintenance ability. It has an amazing ticketing system which will help in detecting any system errors.

Web2Py supports Windows, Unix/Linux, Amazon EC2, Mac, Google App Engine, and many other platforms. It adapted the MVC style structure and has in-built components that will help in managing the cookies, reactions, HTTP requests, and sessions. The Web2Py has helped developers to build customized web applications and create dynamic web content pretty quickly. The framework is shaped and designed to streamline the development of the application, ensuring that everything is happening perfectly. This framework has a Python interpreter too.

This framework offers security from various kinds of threats like injection faults, cross-site scripting, and malicious file execution.

Some of the highlights of Web2Py are:

  • Backward compliance
  • Multiple readable protocols
  • Security from various vulnerabilities
  • Support of the web app portability
  • Modifiable efficiency

6. Grok

Grok framework

Grok is a full-stack development framework that is built on the Zope toolkit. It is an open-source framework and is exclusively built to speed up the web app development process. The developers have to use agile development in order to get the work done with the help of Grok.

Grok will help a developer to access a comprehensive network along with the help of independent network libraries. They can choose the one according to the requirements of their task. This framework comes with a UI that is similar to TurboGears and Pylons. It has a component architecture that will help the developers in the reduction of the unpredictability of the app development.

Some of the highlights of Grok are:

  • Support for Web custom app development
  • Enhanced web app development
  • Upsurging the core technology

7. Flask

Flask framework

Flask is a micro framework for Python, and it is available under the BSD license. The main inspiration behind Flask is the Sinatra Ruby framework. It depends on the Jinja2 and Werkzeug WSGI toolkit template. The main idea behind this Flask is to build a robust web application foundation. From there, you will have an option to use any extensions that you need.

Flask can be chosen for almost all the projects. Some of its highlights are:

  • Integrated support
  • Unicode based
  • Ability to plug in the ORM

8. CherryPy

CherryPy framework

CherryPy is another minimalistic micro framework that is lightweight and efficient. The web development in Python is made easy and similar to an object-oriented program. The main reason for the creation of CherryPy is to make it extensible. It has mechanisms for the hook points as well as extensions.

The CherryPy powered is a standalone web application and is capable of embedding its own multithreaded server. The apps from Cherry run on Linux, macOS, and Windows.

Some of the highlights of CherryPy are:

  • Powerful configuration system
  • Built-in support for the profiling, testing, and coverage
  • Flexible plugin system
  • Is pretty simple and can run multiple HTTP servers at once

9. Hug

Hug framework

The hug is a Python 3 API development framework which allows the software engineers to develop a particular API once and then uses it whenever needed. This Hug framework can simplify the API development using different kinds of interfaces. This is the main reason why this framework is one of the fastest and efficient options in Python 3.

Highlights of Hug are:

  • Automatic documentation support
  • Cython compliance
  • Can be used in Python library
  • Built-in version management

10. Falcon

Falcon framework

Falcon is a micro framework that is aimed at building the APIs pretty quickly. It has been one of the known and widely used Python frameworks, and it doesn’t require the loading of the dependencies in large quantities to create the HTTP APIs. Falcon helps in cleaner design of the APIs supporting HTTP and REST architecture.

Highlights of Falcon are:

  • PyPy Support
  • Full Unicode support
  • Cython support
  • URI templates

Which Python Framework Can Choose For Web Development?

There are so many types of Python frameworks available in the market. However, it is not easy to choose the right one for a project, and you can’t even pick any one of them randomly either. The best way to select the right framework is by taking the project size, requirement, and scope into consideration.

Written By : Technostacks

Turn Your Offline Pharmacy Into A Mobile App

Online pharmacy apps are growing nowadays and most of the patients preferred to buy medicines from the online portal. It is also helpful for both patients and pharmacists. The users can book their medicines online and get it at their doorsteps. If you are one who wants to start an online pharmacy app then this article is for you.

Let’s discuss how you can convert your store into an online pharmacy app.

As per the report of statista.com, In 2014, the global online pharmacy market was estimated to be worth some 29 billion U.S. dollars. By 2023, it is predicted that the market will grow to reach around 128 billion dollars. These statistics show how well the online pharmacy app will grow in the upcoming years.

There are a number of benefits of having an online pharmacy app. An online pharmacy app deals with prescriptions online and provides patients the choice to converse with a pharmacist on the internet instead of physically going to a store. With 45 to 50 percent of people fading to take their medications as per prescriptions, businesses are trying to transform the industry by facilitating diverse ways to access information or health advice.

Learn how to commence your own Online Pharmacy app and whether it is the correct fit for you.

Turn Your Brick & Mortar Pharmacy Business To Online With Mobile App

You have found the ideal business idea, and now you are ready to take the subsequent steps. There is more to initiating a business than merely registering the same. We have put together this uncomplicated guide to exploring the online pharmacy app business opportunity. These stages will make sure that your online pharmacy app plan succeeds, gets registered precisely, and is legally compliant.

Step 1: Plan your Pharmacy App Business

A coherent plan is necessary for success as an entrepreneur. It will assist you in mapping out the particulars of your business and find out some unknowns. A few important topics to consider are:

  • What are the currently applicable costs for a startup?
  • Who is your target audience and market?
  • How much elongated time will it take you to break even?

Don’t worry; we have done extensive research for you.

How Much Cost Involved In Opening An Online Pharmacy App?

Owners will require procuring ample medical insurance in the scenario of a liability claim. The estimated cost for online pharmacy app development may go $10,000 to $50,000 US dollars. The prices mentioned here may go up or down as per your app features and functionalities.

Medical professionals will necessitate obtaining licenses for the state while dealing with the prescriptions. The license costs will diverge depending on the particular country. Business owners will also require hiring a lawyer to make sure they are following all the rules and pay their medical executives a sizable salary to assure quality care. They also need accounting for the wholesale cost of drugs prescribed, which will fluctuate by the supplier.

What are the in-progress or ongoing expenses for running an Online Pharmacy App?

Online pharmacy app owners will have in-progress expenses:

  • Marketing and advertising costs
  • Liability insurance and legal expenses
  • Wholesale prescription costs and salaries of employees
  • Different types of administrative costs

Identifying the Target Market?

In the current scenario, people amid the ages of 30 to 50 will likely be the target to order from an online pharmacy app. They are the ones who will be more at ease navigating pages on the internet, online chatting, and utilizing an online shopping cart.

How Does Online Pharmacy App Make Business Profits?

Online pharmacies make profits by marking up the charges of the drugs. They may or may not charge people to chat with the pharmacist or medical professionals on-site.

Online pharmacies stand to make a noteworthy portion spent on prescription drugs as they deal with wholesalers. The revenues will boost with the rise in the aging population and benchmarked inflation.

How Much Can You Charge Consumers?

The markup for a prescription drug depends on demand as well as location. The best way to decide how much you can charge is by doing research on what people are paying and what their insurance will characteristically cover for every drug.

How Can You Make Your Online Pharmacy App Business Lucrative?

Online pharmacies may incorporate premium subscription services as they mature. For instance, a person with a premium plan will get 5 hours every month of direct pharmaceutical care from a certified and licensed doctor. They will have access to tailored treatment plans or more meticulous guidance about their health conditions.

What Will You Name Your Online Pharmacy App?

Selecting the correct name is exceptionally significant. We propose checking if the business name you decide is accessible as a web domain, and securing it will be the right move. You can select a name as per the search query that is mostly searched by the users on the internet.

Step 2: Structure a Legal Entity

Having a legal business entity such as LLC will safeguard you from being individually liable if your online pharmacy app is challenged in the court. There are many other business structures to pick from which includes Corporations, DBA’s as well as LLC’s.

You should also hire a registered agent service to aid you in protecting your privacy and remain compliant in different scenarios.

Step 3: Register your Company for Taxes

You will necessitate registering for a diversity of state and federal taxes ahead of opening your online pharmacy app.

To properly register for taxes, you will require applying for an EIN, which is simple to opt for and free of cost!

Step 4: Set up a Business Bank Account and enable a Credit Card

Opting for dedicated business banking and credit accounts is crucial for safeguarding personal assets. When your business and individual accounts are miscellaneous, your personal assets such as your own home, vehicle, and other valuables are at a high risk in the case your online pharmacy app business is being sued in the court. As per business laws, this scenario is considered as piercing your corporate veil.

Benefits of Opening up a Professional Business Bank Account

  • This step breaks up your personal assets from your corporate assets, which is obligatory for personal asset protection.
  • It also makes accounting and tax filing trouble-free.

Benefits of Getting a Business Credit Card

  • This step assists you to divide personal and business expenses by enabling your business expenses in one single place.
  • It also creates your organization’s credit history, which can be helpful to raise funds as well as investment on a long-term basis.

Step 5: Setting up Business Accounting

Recording an assortment of expenses and sources of revenue is decisive to understand the economic performance of your online pharmacy app. Keeping the accounting both precise and detailed eases your tax filing annually.

Step 6: Obtain Obligatory Permits and Licenses

Failure to get your hands on crucial permits and licenses can effect with fines, or even lead your business to get shut down.

  • Federal Business Licensing Needs
  • There are a lot of federal regulations regarding the production and distribution of drugs that are prescribed. Previous to opening your online pharmacy app, be sure to go over this FDA page concerning drug distribution, as well as any other applicable FDA laws.

  • State and Local Business Licensing Needs
  • Some of the state permits and licenses may be necessary to run an online pharmacy app. Explore more regarding licensing requirements in your particular state by discovering SBA’s reference to the specific state licenses as well as needed permits.

Step 7: Get an Insurance for your Business

Insurance is highly suggested for all business owners in this domain. If you hire professionals, worker’s compensation insurance may be a legal obligation in your specific state.

Step 8: Define your Business Brand

Your business brand is what your company gets to your feet for, as well as how your business is supposed by the general public and professionals in the marketplaces. A well-built brand will lend a hand to your business stand out from different rival companies and industry competitors.

How to Effectively Promote and Market your Online Pharmacy App?

It is not merely lower prices that consumers want when it comes to their prescriptions; they even need helpful and suitable advice. Since you will be running your store on the internet, you should principally be marketing as well as advertising your specific services online. Using social media channels, online blogs, as well as Google Ads, is quite common now. These digital tactics increase your online presence.

However, you may even want to build good relationships with local doctors in your location and find ways to market exclusively to their patients. The direct suggestions and recommendations from the doctors or with offline flyers around the medical facilities can assist your business.

How to keep Professional Clients and Customers Coming Back?

The more imperative thing is to enable patients with safer medicines, along with secure healthcare treatment plans. The doctor or pharmacist should have admirable people skills and the aptitude to build up relationships with their individual patients swiftly. They should also be conversant and ready to find solutions if they are unsure of the current trends in the healthcare domains.

Step 9: Set up your Business Presence

A website enables customers to explore more about your pharmacy app company and the products you provide. You can also take help and utilize social media platforms to draw new customers.

Step 10: Choose the Right Software Development Company for Online Pharmacy Mobile App

You need to pick a precise online pharmacy mobile app development company for your online business functioning as well as marketing. These were the ten steps to start an online pharmacy app.

Is it Good to Start Online Pharmacy App, and What Are The Daily Operations In This Business

Doctors or pharmacists are required to be engaged on-site to manage and check the different medications. One also needs to handle the online inventory and customer services. One also requires operating communication protocols and work with diverse stakeholders to determine quality levels of drugs.

What are the Skill-sets and Standard Practice that will assist you in building a thriving Online Pharmacy App?

It is always needed to have skill-full and experienced employees to run this online pharmacy app. Highly qualified and licensed professionals are required in order to distribute medicines on an online platform. The critical company stakeholders need to be well organized and industrious. They should have some experience working with lawyers, different suppliers, as well as insurance companies prior to jumping into this business career.

Moving Forward

This business is well-matched for entrepreneurial doctors and pharmacists who can partner with other medical stakeholders. However, they need to follow many trends in the insurance sector, patient care, and customer preferences.

The growth perspective is massive for online pharmacies. Based on the latest statistics, it is predicted that this business will gain momentum in the near future. The steady and reliable service providers will find their way in swiftly growing their business across the industry.

Written By : Technostacks

web app ideas

In the opening days of the internet, companies could straightforwardly make an online presence by creating a plain website showcasing its services. However, the scenario has completely altered today. With the boost and use of superior technologies, industry competition has increased. As an outcome, businesses need to think out of the box and run an extra mile to be effective and grasp user attention.

Why Are Web App Ideas Good For The Startup Business?

With conservative app ideas, it becomes easier said than done for startups to meet their aggressive goals. Whether it is a web app idea or mobile application concept, they require thinking innovatively on every stage. Only with a solution-centric app model, they can interact with targeted and larger audiences, modernize as well as automate the business procedure to boost their revenue streams at every step.

Being an entrepreneur, you necessitate delivering exclusive solutions to build your startup brand and make a name in the targeted market. Be it a new design, working with the most modern technology, or coming up with an incredible business model, your business has to clutch utmost eyeballs. Many web development companies have struck the marketplaces to lend a hand to you with this application.

A wide range of ready to go web apps is accessible in the digital world; however, they look to be too messed up to users for their anticipated actions. Hence, companies have now initiated in full swing to build tailored web applications to make a momentous impact related to their online presence. Having said that, you can consult Technostacks teams, who assist their clients in accomplishing needed business objectives by providing a quick start.

Top Web Application Ideas In 2020 For Your Business

To create an innovative web application, you need to research hard and collect ideas. It does not seem simple, and you need to ask too many questions to your stakeholders and targeted users. The questions will also consist of Will the idea work out? Have I done adequate research? Are there any close competitors? What should be the actual budget? Whom should I employ to build it?

In this blog post, we have explored the top web app ideas, which are categorically going to be constructive for your business. Let us discover them!

1) YouTube Radio

Today, YouTube has been a big impression among an extensive range of users. You can take benefit of this trend efficiently by creating an app that chooses the most excellent content on YouTube and plays them for the targeted audiences.

Moreover, it is one of the most accepted search-based video platforms that more or less all follow. Thus, you can make largely of it for your company business by creating an innovative web app. It can demonstrate to be one of the top web app ideas that involve very low investment. You do not need to search or take the twinge to make new playlists.

2) Browser Tracker Web App

Many companies aim to put into effect control over the use of computers and the internet by their staff during the office hours. Developing such an application that will facilitate the employers fulfilling such a need can be a fit for desktops compared to mobile devices.

You can come up with a web app that will help out enterprises with functionalities such as time limits for using some of the web portals, alerts for doubtful activities, and more. Likewise, businesses often explore this sort of solution and will definitely pay for such a web application.

3) Reminder Web App

The modern professional space is a constant playground of deadlines. However, many times, it is effortless to lose sight of the actual picture and get distracted with insignificant matters that will harshly hamper your overall work productivity. With that in mind, a reminder web application will help you and your employees to get back on the work track quickly with notifications as well as quick alerts. Yes! It is one of the innovative web app ideas.

4) Innovative Dating Web Application

Dating has become trendy in modern times, with people interacting and engaging with each other through a variety of social networking platforms has increased. Budding technologies and web applications have given a valuable boost to this trend.

In this scenario, you can come up with an innovative application that enables different people to search for other people with specific qualities through a common platform. A dating web app can be the most excellent solution in this situation. It uses algorithms to match precise traits and common behaviors. Moreover, it can offer a steady set of paying customers with diverse dating packages and supportive marketing campaigns to back it up.

5) Photo Editor Web App

With a great assortment of innovative photo editing functions, tools, and filters, the photo editor web app makes your professional work simpler. The photo editor web application can offer you proficiency and excellence in making photo editing choices and takes your photography work to the subsequent level.

6) Meme Generator Web Application

Building an effective meme generator web app will have absolute control over the complete process of generating a meme. The app functions can include a superior meme template library and advanced text tools. The functionalities can also comprise of uploading your images, use stickers as well as GIFs. It can further include exceptional file sharing features and memes exclusive of watermarks.

7) AI-Browser Cookies

Building a web app that adds capabilities to your current browser, monitors, and tracks everything smartly can be an innovative app idea for any startup. Artificial Intelligence (AI) is used in many out of the box applications, and its usage is increasing.

Browser-based AI further provides sentiment analysis, detection of gestures, and diverse style transfers when it operates right into the browser. It can drop the requirement for background application programming interface requests and can accelerate AI-based apps for better outcomes.

By building such a web app, you can utilize its properties to facilitate cookies for improving and enhancing your online user experience.

8) Docket Management Web App

Law firms necessitate managing and handling numerous documents. Document storage on Google Drive or DropBox cannot be fully used as legal matters are highly confidential and need high-end security. So, law firms have a preference to stock it on their own server. Hence, the development of a tailored docket management web app for law firms can be highly effective and deal with their storage matters with a hassle-free approach.

9) Review Web Application

There are millions of products like books or medicines around the globe, and people are curious to find innovative as well as the latest details about them. You can come up with a web app that effectively curates and provides reviews of the best or newest medicines or books. The startup idea could be a strike with countless eager readers.

Also, it is always significant to cross-check the medicines before using them. Building a medical review app is the most vital concept that can facilitate users with real-time details about different medicines. It should also offer information about the medicine content, their usage details, and side effects.

10) Web App Platform for Hobbyists

Today, people lead a hectic lifestyle with disorganized work schedules. In this state of affairs, they hardly find sufficient time to enjoy their hobbies. So, in this technology era, you can assist people in fulfilling their desires of sharing information about their hobbies, read news and articles on their hobbies in a professional way, or possibly write content on their interests. In this case or scenario, you can come up with a web app that will fulfill their hobby based needs.

You can’t look ahead to your users to pay for your web app. However, you can serve them up with ads, which will offer priceless information to advertisers.

11) Tailored Payment Gateway

This is a fairly interesting web app idea where companies can build their customized payment gateway and attach them to their web portal or application. The eCommerce websites are keen to use a tailored payment gateway for their different applications. The application can help in adding or removing any of the fields instantly as per the demands of their loyal customers and retail partners.

12) Swift and Cost-effective Website Builder

Most of the entrepreneurs plan to create their business website to enhance their online presence. However, they have a limited budget and can’t hire professionals. In this scenario, you can come up with a swift and cost-effective website builder application that can further help these small businesses that have the requisite of a personalized website and need updating of blogs using these kinds of web apps. Also, introducing a tool that can build custom web applications can be highly effective.

13) Web App Connecting to Industry and Business Professionals

With this sort of app, you can quickly get connected with an industry or business professional in any of the situations. There might be a prospect to come up with a paid web application that connects people looking for advice from professionals of any domain without any hold-up. It can prove to be an advantageous web app idea for a startup company.

14) Workflow Management Web Application

The real-estate companies necessitate handling and managing a lot of information associated with their current as well as new properties. They require taking approvals of diverse applications from the government agencies and monitoring the status of applications to speed up the procedure.

With a tailored workflow management web app, they can build Requests for Proposal, generate invoices, handle different tasks, get real-time notifications about the approval, and much more. By enabling stakeholders with real-time updates as well as alerts, the app allows them to take needed actions to get the agreement of an application and follow the steps forward of their submitted applications correspondingly.

15) Inventive Startup Club

This is an only one of its kind web app idea where you can build a Startup Club in the outline of a social network web app, wherein you can enable your users to submit their blog posts, articles, product details, and YouTube videos for marketing their business services on an interacting platform. Professionals seek to promote their startup companies, and others walk around the upcoming trends in their business sector, technology domains as well as industry.

Moving Forward

Note down your web app ideas with intense clarity and project understanding. Build a prototype of the application, and when you are fully confident that you have covered the entire targeted user desires, look for trustworthy web development services. Technostacks is the best app development company, and if you want to convert your web or mobile app concept into reality, then hire us to work together for swift business success.

Written By : Technostacks

As mobile apps have become a go-to method for most businesses to market their services, modern-day developers are seeking top mobile app development tools that can help them build apps resourcefully. With enlightening guidance on tap and loads of templates to pick from, app developers can now swiftly create good looking mobile applications.

Creating a mobile app is becoming quite straightforward for development stakeholders, especially with a lot of tools that are available and easily accessible at hand right now.

The fresher and experienced developers have a question about Which are the latest mobile app development tools? If you are also among them then this blog is for you.

However, there are a lot of open-source mobile app development tools in the market, which puts development stakeholders often in confusing scenarios and these are the prime reasons why we have curated all the information that stakeholders need to know about mobile application development tools. With this blog post, development stakeholders get to know what kind of tools or software can be used depending upon the occasion and where they can invest the resources too. For instance, they can know where native or hybrid mobile app development tools are useful and where not.

Best Mobile App Development Tools That Developers can Use in 2020

There are a lot of mobile application development tools for Android and iOS available in the market, but which one is best for your project? Let’s discuss all the details. The developers have to be extremely careful with their choice here and have to make sure that the app tools they choose are handy.

Here are some of the latest mobile app development tools in 2020 and fair comparison of them so that you can make the best selection for your upcoming projects.

1. Buildfire.js

Buildfire js

This is the foremost and best mobile app development tool that you will find in the market. It is a cross-platform library that can be used to build custom functionality in the Buildfire.js. The best thing about this specific tool is that it can be customized according to your requirements with the help of JavaScript. The customization options here are unlimited. This is the one feature that makes it simple and easy to implement the framework.

Buildfire.js is an open-source tool, and with the help of its platform Buildfire, the tool will help in reducing 80 percent of the mobile development task.

There are more than 45+ open-source plugins that this tool will use to overcome or minimize a lot of hassle from the developer’s shoulders.

The platform can help with the development of apps on both Android and iOS devices. It reduces the development time a lot and provides some great options for the users. The pre-existing templates and pre-build functionalities like direct integrations with Smooch and Segment have highly contributed to the performance of Buildfire.js.

2. Ionic

Ionic

Ionic is another famous mobile app development tool that everyone should check out. This tool is perfect for various projects and will help developers in different kinds of aspects. This is based on Sass CSS language and is a cross-platform tool. This scenario means that the developers can use this tool to create apps that will run on different kinds of operating systems with ease. The best thing about this Ionic tool is that it is pretty easy to use. It can be integrated with Angular JS to build various types of apps.

Ionic has a huge library with JS CSS components, mobile-optimized HTML, and CSS features too. These tools and gestures work perfectly with the features that are present in mobile phones.

A proper command-line interface will help in providing features like emulators, logging, and live to reload. The app developers can send any app updates directly to the users without any third-party intervention. This is the reason why it has been one of the top tools for mobile app development.

3. Xamarin

Xamarin

Xamarin is backed by Microsoft, and this is enough for most of the app developers to go with it. With the help of C# codebase, it is pretty easy to develop Android, Windows, and iOS apps. The best feature of Xamarin is that it allows code sharing options on multiple platforms, which means that the same code can be used on various platforms without any hassle. Xamarin has a cloud service, which makes it one of the best cross-platform mobile app development tools.

Xamarin is equipped with standardized UI controls, and there is no need for the developers to use any kind of extra UI option either. The tool is integrated with SDK, and hence the apps will be updated depending upon the changes in the OS of a device. This is very important for the apps if they want to be compatible with any kind of OS.

The best thing about this Xamarin is that it is open source. The app offers a lot of features, and being open source is indeed a great benefit for the developers. They can make use of the features effectively. The component store of Xamarin needs a special mention here because it has a great set of UI components, libraries, third party web services, and UI controls. All these features are a great help for developers.

Xamarin and Azure are associated with one another, and both of them will assure you with the app security. You don’t have to worry about the data of the app at all as they are secured and are rock solid.

4. Android Studio

Android Studio

The Android Studio is one of the noteworthy open-source mobile app development software that you have to look out for your project. It is straight from the Android IDE and is very stable. This is the perfect tool that you can use for Android app development. It won’t support cross-platform development but is the perfect pick for developers. This studio is specifically built to reduce the app development time and accelerate the process.

There are so many features in the Android studio that makes it stand apart from the other options that are obtainable in the market. It is significant for users to make the most out of these features. The tool is tailored to match the requirement of Android developers.

There are so many modern functionalities in Android Studio, and it is even a highly reliable mobile development application tool for Android. Being the official IDE of Android, it has a lot of backing and great community support that the users can take help from in the project.

5. Corona Labs

Corona Labs

The Corona labs support almost all the major platforms and are one of the effective and top application development tools for both Android and iOS devices. This tool is used to develop educational applications and 2D games specifically. It can also be used for developing 2D applications on various platforms too.

The tools can be used for free by the developers. The platform is pretty easy to learn, and any beginner developer can opt for it without any hassle. There are so many guides and in-depth tutorials that will help in understanding the features and how to use the Corona labs platform.

6. Sencha Touch

Sencha Touch

Sencha is a rapid mobile app development tool that is perfect for developing apps on multiple operating systems such as Android, iOS, and Blackberry. This tool is based on MVC and works along with JavaScript. The JavaScript, along with MVC, makes it a go-to choice for so many developers as JavaScript is one of the simple programming languages that almost every programmer is aware of. The developers have to code in HTML 5 and then use the program for both iOS and Android applications. The tool has more than 100 supporting components, which helps in various ways. Even the community support for this tool is commendable.

There are so many commercial supported widgets that will make UI even more friendly.

7. Appcelerator

Appcelerator

Appcelerator is another amazing tool that can be used for both native and hybrid apps development. This is a favorite for so many developers because it reduces the number of programming lines and makes it pretty easy for them to use. The best thing about the Appcelerator is that it has an open market place that allows the users to share and sell templates, modules, and extensions with ease.

Key Takeaways

We hope that this comparison of the mobile app development tools will be helpful for development stakeholders. Requirement and budget of the client are two other factors that one has to take into consideration for picking which mobile dev tools are right for your app.

Tools like Android Studio are not suitable for developing hybrid or iOS applications; they are meant for only Android applications alone. So, if you are trying to develop an app for only an Android device, then this tool is perfect for you. Likewise, depending upon your requirements, you can pick the right kind of app. Your budget will become a key factor too.

The open source mobile app dev tools are an essential part of the development process. It not only speeds up the development, but it also reduces a lot of efforts on the developer’s part with the help of various interesting plugins.

However, not every tool is fit for the development process. The developers have to choose wisely here. There are a lot of factors that will impact their choice here, and one such factor is the project size. Not every tool is perfect to handle huge projects, so the developers have to make a smart choice here and pick the tools that will go perfectly with their app development.

Written By : Technostacks

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