7 Steps to Develop a Budgeting and Banking App Like Albert
- Banking App Development

7 Steps to Develop a Budgeting and Banking App Like Albert

Managing budget and banking accounts can be overwhelming. In such a scenario, it is good to trust budgeting and banking applications that let you maintain your finance and investment records on paper as well as electronic devices for access. It is simple to manage finances with the aid of this kind of programme. As a result, financial industries are taking steps to develop a budgeting and banking app like Albert.

It is accurate to state that applications for personal finance, which offer significant value, are highly sought after on a global scale. Businesses would be wise to  build an app like Albert. The users will be able to maintain a log of their financial transactions thanks to this.  But are you aware of all the nuances of building a finance app?

This is a how-to guide for creating a banking and budgeting software similar to Albert. Additionally, you will discover what features your application needs to have.  Let’s start first with the Albert app. 

Explanation of Albert Application?

With the help of the personal financial app Albert Application, you can effortlessly manage your finances and save and invest in one location. The app has amazing features like saving, investing, budgeting and more. In addition, the app offers real-time alerts and a useful feature that lets you ask knowledgeable financial questions and receive customised, accurate responses. 

By removing the need for formal phone calls with a financial adviser or in-person bank branch visits, using Albert simplifies financial management.  With this app’s help, users can track their financial well-being, assisting them in staying organized, reaching goals, and finding a smart way to spend, save, and invest. To put it plainly, the programme distinguishes itself by making personal budget management easier while maintaining ease of use.   

Another good part of the app is that it allows you to withdraw a small amount of up to $250 in advance with no late fees, interest, or credit checks. It means in an emergency, you can trust this app for money. Therefore, it is the best opportunity for the financial sector to develop a budgeting and banking app like Albert.

However, the task is challenging as there are several aspects that need to be fulfilled for app development. In such a case, you must consult with a team of professionals with a proven track record in budgeting and banking app development.

How Does the Albert App Work?

How Does the Albert App Work?

As Albert is the best application for keeping a record of finances, the demand for such applications is high worldwide. However, how the application functions is the question. Well, it is necessary to install the app on your device. After the app is installed, the account needs to be setup. To check Albert’s credit, you do not have to register. 

Now you have to provide some credentials like name and age. This application will try to learn more about the user, so you have to decide what information you have to provide or what not.

It always asks to connect the financial accounts to the application. Your bills come from your credit card accounts, mortgage, school loans, investment accounts, and many more financial accounts that you now need to link to the programme. 

It will assist the application in better serving you, giving you recommendations, tracking your spending, providing alerts, and more. Nonetheless, you must have a bank account with US financial institutions and be a citizen or resident of the US for at least 18 years. 

Key Features a Finance Application Must Have 

Key Features a Finance Application Must Have 

The demand for financial applications like Albert is high in the market. Henceforth, there are multiple entrepreneurs who are planning to develop a budgeting and banking app like Albert. Nonetheless, you must attend to the characteristics that you must incorporate into your programme. When creating an app similar to Albert, keep the following features in mind:

  • Integration with Payment Services

Maintaining several credit cards and bank accounts is mandatory.  Lining all these accounts to budgeting applications assists you in managing your money in one location and gives you a thorough image of your finances. Therefore, you need to incorporate this feature into your application. You can collaborate with professionals who have expertise in banking app development

  • Data Visualization

When it comes to developing an effective budget application, a clear and accurate user interface is required. It can help people understand the facts and make better financial decisions. It can be accomplished by utilising visually appealing dashboards, infographics, and charts to help people better understand information and handle their money. This is now the crucial component that your application has to have. 

However, it is important to ask about budgeting and banking app development cost that may differ based on your business requirements. So, it is necessary to ask about the cost in advance to get a better understanding of the budget.

  • AI-Power Financial Assistance  

You should also ensure that your application is equipped with AI that allows you to stand out from your competitors. Additionally, it enables us to assess the gathered data and transform it into useful insights that help customers match their spending to their savings goals. This will determine the maximum amount that a user can securely save, and the application will deposit that amount automatically. 

However, AI systems can help consumers analyse their spending patterns and automatically classify transactions to provide them with cost-saving advice. It is therefore essential to verify that this feature is included in your application. 

  • Gamification

Adding gamification elements to your banking software, like as Albert, can boost user interaction and motivate consumers to use it more regularly. You can include features like milestones, awards, and goals specified by the point system to keep customers interested and help them save more effectively. 

Thus, while deciding to develop a budgeting and banking app like Albert, don’t forget to implement this amazing feature in your application.

  • Strong Security 

This is another feature you have to implement in your finance app. It will ensure high-level security to safeguard sensitive information.To safeguard the app infrastructure against bot assaults and data breaches, you need to use new technologies to make the application more engaging.

In order to ensure user safety when designing new applications, it is imperative that you familiarise yourself with GDPR regulations and ISO 270001.  To ensure the quality of the project, you can seek the help of experts who can easily build an app like Albert.

  • Manage Your Bills

To develop a budgeting and banking app like Albert, it is necessary to include features for managing your bills. Everyone wants all their bills to be paid on time without skipping a deadline. Therefore, this feature is necessary to include in your application as it reminds you to settle your account before the deadline.

To ensure the app is equipped with this feature, you can contact the excellent app development company, which has a team of skilled and experienced developers who are trained to shape an idea into reality.

  • Synchronization 

This is another feature you must include in your application. With this incredible feature, consumers may check facts and data about their financial situation while having access to all of their money on one digital platform. They can also track bills, expenses, and money more quickly and add additional accounts.

Henceforth, you have to include a synchronized feature in your application. It enables customers to better manage their finances by examining data and information from all accounts in a single digital environment.


  • Budgeting and Expense Categorization 

You need to provide your users with a range of budgeting alternatives in order to ensure the greatest possible user experience. Sorting through the user’s transactions and spending can help with this. You must give them the option to set aside money for a weekly, monthly, or multiple-month budget. This is why it is necessary to implement this feature in your application. To simplify the procedure, it is good to trust on an eWallet app development company

  • Customer support and Consultation 

This is an important feature you have to include in your app while deciding to develop a budgeting and banking app like Albert. With this feature’s help, users can contact the experts round the clock to get any support and consultation services. This is the reason your programme needs to include this feature. 

Complete Guide to Develop a Budgeting and Banking App Like Albert

Complete Guide to Develop a Budgeting and Banking App Like Albert

Once you have the complete information about the feature, it is time to start the development procedure. However, without a proper procedure, it is difficult to develop a budgeting and banking app like Albert. Here, we list out the complete process to build an app like Albert. 

1. Understand Your App Users

If you know your users well, it is easy to simplify many things. This will help you create better products, identify the features necessary, and build an effective promotional plan for your application. Henceforth, ensure what your client wants. According to the user’s demand, you have to proceed to the next step. 

By understanding your app users, you are able to determine what features you have to include in your app.

2. Conduct Competitor Research 

This is another essential step you have to follow to develop a budgeting and banking app like Albert. You may find out what your customers are looking for and what your rivals are selling to turn a profit by taking the time to complete this step. So, when deciding to develop a budgeting and banking app like Albert, you have to conduct strong research. You can also enlist the aid of an Android app development company with a solid track record and up-to-date understanding of current trends and technology in order to do a search.

3. Identify Issues 

In order to develop a budgeting and banking app like Albert, you are required to identify issues you may face during the app development. Find an answer to what it is about the existing personal finance solutions that are keeping their users from achieving their goals. You also have to determine whether there is any new technology that would make the user experience smooth and flawless. 

If you don’t have good knowledge about the technology and trends, you have to search for an on-demand app development company that will assist in transforming your ideas into reality. 

4. Choose the Features 

The next step in developing a budgeting and banking app is choosing the features. Well, features are the only thing that determines the success of your project. Henceforth, it is necessary to choose a set of amazing features that you want to implement in your application. By picking the right features for your app, you can scale up your business with ease. 

In case you have less knowledge about the required features, you can hire mobile app developers as they are working on several projects, which is why they can assist you in selecting the right features for your application. 

5. Make the Choice of Right Tech Stack 

After choosing the features, you have to proceed to the next step, where you need to make the right choice of features. The right technology includes libraries, databases, programming languages, frameworks, etc. Therefore, you must choose the technology stack that suits your project requirements. If you are choosing an Android platform for app development, then you have to choose the technology accordingly. 

It makes sure the project’s success. So, don’t compromise in choosing the technology stack for finance app development. You can also seek the help of experts to develop a budgeting and banking app like Albert.

6. Hire Dedicated Developers 

Now, you have to hire dedicated developers who transform your idea into an application. Working with experts, you don’t have to worry about any single code or other things as they will handle the situation expertly. Moreover, they never compromise on the quality that stands you apart from the competition. 

7. Testing 

If the application is finished, it is time to test it. During the app development process, lots of bugs remain that should be cleared before publishing the application. So, once you develop the application, you have to consult the QA team to test the application manually, find the bugs, and fix them at the same time. This will ensure that users never face any difficulties while using the finance app. 

These are the steps you have to follow to develop a budgeting and banking app like Albert. If you are unable to do this task on your own, it is time to search for a mobile app development company that will assist you in transforming an idea into reality.

Cost to Develop a Budgeting and Banking App Like Albert

Cost to Develop a Budgeting and Banking App Like Albert

The demand for financial apps has become high, and everyone wants to develop a budgeting and banking app like Albert. But the question is, what is the mobile app development cost? The cost depends on several factors, such as complexity, features, platform, and developers’ location. 

This means it is tough to say what things decide the Albert app development cost. For your help, below we mentioned a table that gives you an idea about the finance app development cost.

Development Task Description Estimated Cost Range
Project Planning & Discovery Requirement analysis, project scoping $80 – $150 per hour
UI/UX Design Wireframing, UI/UX design $70 – $120 per hour
Frontend Development Implementing user interface $60 – $110 per hour
Backend Development Database design, server-side logic $70 – $130 per hour
API Integration Integrating with third-party services $70 – $130 per hour
Security Implementation Encryption, authentication $80 – $140 per hour
Testing & Quality Assurance Manual and automated testing $60 – $120 per hour
Deployment & Launch App deployment, launch support $70 – $130 per hour
Maintenance & Updates Bug fixes, feature enhancements, updates $60 – $120 per hour

The Bottom Line 

The demand for finance apps is high worldwide. Thousands of finance apps are released yearly on Google Play Store or Apple Store. Many popular finance apps like Albert are growing rapidly. Henceforth, it is a great opportunity to develop a budgeting and banking app like Albert. However, it is not an easy task to build such a type of application without any experience and knowledge. 

If you have technical expertise but don’t know the step-by-step guide, the above-listed information will be profitable for you. For the best solutions, you can contact a budgeting and banking app development company.


1. How much does the finance app development cost?

The finance app development cost varies on different things like complexity, features, choice of platform and many other things. For a basic app, you have to pay around $15-$30 hourly. If there is high complexity and you want more features, then the cost may increase. 

2. Is it worth making a finance app in 2024?

Of course, everyone is moving to digital platforms. In such a situation, it is good to invest in finance app development. No one likes to visit the bank to deposit cheques and money, so they are looking for an easy way. As a result, financial apps are the best choice for them. 

3. How to build a finance app?

In order to build a finance app, it is important to follow multiple steps. Moreover, it is essential to keep an eye on features as well as selected platforms to develop a budgeting and banking app like Albert.