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How to Build an App Like Fetch Rewards: The Complete Guide

Did you know that loyalty apps can boost repeat purchases by up to 40%?

As consumer acquisition costs rise, brands are shifting focus from one-time transactions to long-term loyalty. The global loyalty programs market is projected to grow 15.9% annually, reaching nearly $94 billion in 2025, driven by mobile-first engagement, AI-powered personalization, and gamification.

Apps like Fetch Rewards stand out because they don’t just reward purchases but understand user behavior. That’s where the market is headed. You now see smarter apps, real-time rewards, and contextual nudges that feel tailor-made to each of the consumers.

Who will benefit from this guide?

This guide is for founders, project managers, agencies, and enterprise teams who are exploring how to build or outsource a Fetch Rewards-like app. Whether you’re starting from scratch or expanding your current loyalty offering, you’ll find practical insights here.

At RaftLabs, we’ve been building loyalty apps for clients across industries for 3+ years. Some of our partners return every festive season to launch fresh campaigns. After peak cycles, we help them cut costs and streamline operations, so the app stays lean, but ready to scale.

This blog unpacks everything you need to know:

Why apps like Fetch are booming now

What features actually drive retention

How to build a rewards app from scratch (the right way)

What it costs, how long it takes, and what tech stack works best

Let’s dive into what it really takes to build a Fetch Rewards-like app in 2025 and how to do it without burning time or money.

The Fetch Rewards Phenomenon: What Makes It Tick?

Before you build an app like Fetch Rewards, it helps to understand why it works so well. Fetch didn’t just launch a rewards app. It built a movement, backed by smart tech, a simple value prop, and a strong user community.

Here’s what made it click:

1. A Simple but Addictive Flow

Users snap a photo of any receipt. The app scans it using AI + OCR and instantly awards points. No manual data entry. No barcode scanning. Just tap, scan, and earn.

2. Everyday Rewards, Everyday Behavior

From grocery runs to pharmacy visits, Fetch rewards users for purchases they’re already making. This low-friction loop fuels high frequency and habit formation.

3. Personalization That Feels Native

Fetch’s AI engine processes billions of transactions to suggest offers that match users’ real shopping habits. It’s not just personalization, it’s relevance built from actual behavior.

4. Gamification That Drives Retention

With streaks, brand challenges, and seasonal bonuses, Fetch keeps engagement high. Features like Fetch Play reward users for trying mobile games, creating new revenue streams and daily use cases.

5. A Community-Driven Brand

When their systems crashed in 2017, the team processed receipts manually for weeks. That transparency earned them trust. Today, that “Fetch Fam” culture keeps users loyal and engaged.

6. Clean, Focused UX

The app stays lightweight. No clutter. No distractions. Just clear points, rewards, and an interface that works for all age groups — vital for building a wide user base.

7. Real Business Value Behind the Scenes

Fetch monetizes through affiliate deals with brands. Retailers pay to be featured, and in return get purchase-level insights that help them improve targeting. This full-funnel adtech model keeps the app free for users while driving ROI for partners.

8. Scalable and Investor-Backed

With over $500M in funding and a $2.5B+ valuation, Fetch shows how a rewards app can scale when it combines data, loyalty, and performance marketing into one tight ecosystem.

As you plan to develop an app like Fetch, keep these core levers in mind. What made Fetch work isn’t magic. It’s clearly a mix of sharp product thinking, user-first execution, and a business model that benefits everyone in the loop.

Market Trends and Competitive Landscape

If you’re planning to build a rewards app like Fetch, understanding the market landscape is not optional, it’s foundational. You need to know what users expect, what competitors are doing well, and where the real gaps lie.

1. The Loyalty App Market Is Growing Fast

The global loyalty programs market is projected to hit nearly $94 billion by 2025, growing at 15.9% annually. Mobile-first usage, gamified experiences, and AI-driven personalization are the baseline.

2. Digital Loyalty Is Becoming a Daily Habit

Over 80% of consumers are open to downloading loyalty apps. Many use them weekly, if not daily. This isn’t passive participation — it’s a shift in behavior. Strong mobile UX and personalized touchpoints now drive repeat use.

3. Engagement > Transactions

Modern loyalty programs are moving away from simple points-for-purchase models. Gamified experiences, brand missions, and experiential rewards are proving more effective in building long-term engagement.

4. Why Market Research Matters Before You Build

Studying other apps like Fetch helps you avoid missteps. You learn what resonates with users, where existing apps fall short, and how to position your product more effectively in a noisy market.

5. Who You’re Up Against (and What to Learn)

Studying the competition gives you a front-row view of what’s working — and where there’s room to improve. Here are some of the top players in the space and the angles they’ve leaned into:

Fetch Rewards: Known for simplicity, wide retailer support, and personalized offers powered by AI.

Ibotta: Focuses on cashback deals, especially for groceries and household staples.

Merryfield: Designed for health-conscious users, with a clean UI and partnerships with ethical brands.

Others to Watch: Apps like Drop, Swagbucks, Rakuten, Guusto, and Awardco bring unique loyalty strategies — from card-linked offers to employee recognition platforms.

6. What Sets a Fetch Rewards-Like App Apart

If you want to develop an app like Fetch, here’s what sets high-performing loyalty apps apart from the rest. These are the principles worth building around:

Easy-to-use UI with minimal learning curve

A broad and growing network of partner retailers

AI-powered recommendations based on real purchase behavior

Meaningful data insights that benefit both users and brand partners

7. How to Stay Ahead: Listen to Your Users

Great loyalty apps don’t just launch and forget. They evolve based on how users actually interact with them. Building feedback loops early on helps you stay ahead of changing needs:

Add in-app tools like open-ended surveys, shake-to-report features, and NPS widgets

Run A/B tests and behavior heatmaps to improve flows and identify friction

Conduct short interviews and feedback surveys before pushing major features

Map the entire customer journey to uncover moments of drop-off or confusion

Observe real-world usage over time to find unmet needs or opportunities for delight

8. Continuous Feedback Drives Growth

The best apps don’t just launch, they learn. Keeping a feedback loop helps you adjust fast, stay relevant, and deliver updates that matter. In a fast-moving market, that adaptability becomes your advantage.

When developing an app like Fetch, you’re not just building for today or tomorrow. You’re crafting an experience that must evolve alongside your users, their behaviors, and the constantly shifting competitive landscape. That’s why having the right product mindset and the right development partner can make all the difference for your business.

Defining Your Rewards App’s Purpose and Unique Value Proposition

After exploring what makes apps like Fetch succeed, the next step is to define your own path. Whether you’re building for a niche audience or targeting mass adoption, clarity on purpose and positioning is what sets your product up for long-term growth.

1. Know What You’re Really Solving

A rewards app isn’t just a points engine. It’s a behavior design tool. Before you build, define what habits you’re trying to reinforce — repeat purchases, engagement, referrals, or a mix of all three.

Loyalty programs work best when tied to real value moments, not just transactions

Your rewards should align with how, when, and why users interact with your brand

The app becomes an extension of your customer journey, not an add-on

2. Define Your Unique Edge Early

Standing out in the loyalty space takes more than offering cashback or gift cards.

You’ll need to answer: Why will users choose your app over others and keep using it?

Here are angles that create lasting differentiation:

Niche Positioning: Serve a specific audience (eco-conscious shoppers, frequent travelers, local buyers) with tailored experiences

Community-Led Design: Let users earn through reviews, referrals, or creative input.

Partnership Value: Collaborate with aligned brands to expand your ecosystem and reach.

Mission-Driven Rewards: Offer impact-based redemptions like carbon offsets, donations, or social pledges.

Ownership Loops: Let power users unlock tiers, co-create rewards, or influence upcoming features.

3. Align Features with Purpose, Not Trends

It’s tempting to adopt every buzzword like AI, gamification, and wallet integrations. But don’t think about it unless it maps to your core value else it just adds noise. Start lean. Scale features only when they serve the purpose.

AI personalization works best when tied to real data and intent

Gamification works when it rewards behavior you want to encourage, not just activity

Partner programs work when they unlock benefits your users actually want

4. Let Purpose Guide Your Build Decisions

From onboarding to reward logic, every feature should reinforce your app’s core promise. We use this alignment to keep builds focused, costs predictable, and outcomes measurable.

A Fetch Rewards-style app works best when it goes beyond functionality and is built with clear intent. That’s what makes users stay, scale possible, and loyalty real.

Essential Features for a Modern Fetch-Like Loyalty App

Here are the essentials:

1. Receipt Scanning (Physical + Digital)

Let users upload paper receipts or auto-import digital ones from their inbox. This not only drives repeat visits but also gives your platform verified, high-quality purchase data.

2. Flexible Points System

Create a simple points engine that rewards users for eligible purchases and actions. Make it easy to track, understand, and redeem. This becomes the habit-forming core of your app.

3. Personalized Offers

Use AI to tailor deals and reward opportunities based on user behavior. Personalized loyalty programs see significantly higher engagement and redemption rates than generic campaigns.

4. Gamification Elements

Add features like challenges, streaks, levels, and badges. These help turn passive users into active participants and add reasons to return beyond just earning points.

5. Social and Referral Features

Let users refer friends, join challenges, and share milestones. Social interactions not only boost reach but also build a sense of community and accountability.

6. Digital Receipt Integration

Fetch Rewards-like apps improve retention by minimizing friction. Auto-fetching digital receipts ensures your users don’t have to manually upload every transaction.

7. Rewards Catalog and Redemption Flow

Present reward options in clear categories, from digital gift cards to charitable contributions. Keep redemption fast, simple, and accessible on any device.

8. Real-Time Notifications

Timely updates about earned points, expiring offers, or challenges drive urgency and increase daily engagement.

9. Strong Data Privacy and Security

Implement encryption, secure authentication, and fraud monitoring. Trust is foundational when you’re dealing with purchase histories and personal data.

A successful rewards app is more than just a list of features. It must deliver a continuous and engaging user experience.

At RaftLabs, we build that experience by mapping user journeys, learning from top apps like Fetch, and tailoring every detail to your business goals.

FeatureKey Technology StackPopular Tools/PlatformsReceipt ScanningOCR, AI/ML, Cloud StorageGoogle Cloud Vision, AWS Textract, Firebase StoragePoints SystemRelational Database, Rule Engine, Custom APIsPostgreSQL, Redis, Node.js, Firebase FunctionsPersonalized OffersAI/ML Models, CRM, AnalyticsAmazon Personalize, Segment, Mixpanel, HubSpotDigital ReceiptsEmail Parsing APIs, Cloud Functions, Automation WorkflowsMailparser, Zapier, AWS LambdaGamificationEvent Tracking, Analytics, Push Notification ServicesMixpanel, OneSignal, Firebase AnalyticsSocial FeaturesSocial Auth APIs, Referral Tracking EnginesBranch.io, Firebase Auth, Facebook SDK, Google IdentitySecurityEnd-to-End Encryption, Biometric Auth, AI-Based Fraud DetectionAWS Cognito, Auth0, Plaid Signal, AES-256 Encryption

Technology Stack and Development Approach

1. Choose Your Platform

Loyalty programs can be delivered through mobile apps or web platforms. Choosing between web or mobile depends on where your users prefer to engage.

For mobile, React Native and Flutter let you build apps for both Android and iOS with a shared codebase. Swift and Kotlin are better if you want fully native apps with advanced features.

For the web, a responsive design ensures your loyalty platform works smoothly across all devices and screen sizes without needing a separate app.

For example, if your users mainly interact with your program on their phones and want features like push notifications, a mobile app might be best.

But if your users prefer quick access from any device without downloads, a responsive web app could be the way to go.

Choose the platform, web or mobile, that fits your audience’s habits, your budget, and your growth plans.

2. Design a Scalable Back-End

The back-end takes care of everything behind the scenes, such as rewards logic, user profiles, and data syncing. It needs to be flexible and capable of handling increasing traffic as the app grows.

Node.js, Django, or Spring Boot for application logic and APIs

PostgreSQL or MongoDB for managing structured and unstructured data

Redis or Firebase Realtime Database for features like live challenges or scan progress

A modular approach allows updates without full rebuilds.

3. Use AI Where It Adds Value

AI plays a useful role in making the experience more personalized and secure.

Recommendation engines (like Amazon Personalize or Vertex AI) tailor offers to user preferences

Fraud detection models help flag abnormal patterns using behavior or location data

Segmentation tools improve how and when users are re-engaged

The goal is to use AI to improve performance and experience without overcomplicating the system.

4. Set Up Scalable Infrastructure

Your cloud infrastructure should be ready for changing usage patterns, especially if your app gains traction quickly.

Cloud platforms like AWS, Azure, or Google Cloud offer flexibility and reliability

Serverless tools (e.g. AWS Lambda, Firebase Functions) support performance without manual scaling

CI/CD pipelines like GitHub Actions or Bitbucket automate testing and deployment

Structured environments (dev, staging, production) make ongoing work smoother and safer.

5. Build With Analytics in Mind

Analytics helps you understand how users interact with your app and where improvements are needed.

Mixpanel, Amplitude, or Firebase Analytics for behavior tracking

Event tagging to monitor drop-offs, usage patterns, and conversion flows

Notification tools like OneSignal to re-engage at the right moments

Clean data leads to clearer decisions.

6. Address Security Early

It’s important to prioritize data security from the start instead of trying to patch it in afterward.

AES-256 encryption for sensitive data

OAuth 2.0 for secure login and authentication

Biometric login, fraud monitoring, and compliance with data privacy laws (e.g., GDPR, CCPA)

It’s about protecting user trust and minimizing legal or operational risks.

7. Prioritize Usability in Design

Good UX keeps users engaged. Simplicity isn’t accidental; it’s the result of intentional design.

Begin with low-fidelity wireframes and evolve into clickable prototypes

Keep each screen focused and navigation consistent

Ensure essential actions like scanning, earning, and redeeming are fast and obvious

User testing helps identify friction early and adjust before launch.

8. Test for More Than Functionality

A solid test strategy looks beyond whether things “just work.” It checks for performance, security, and usability under real-world conditions.

Test all major flows: registration, scanning, earning, redeeming

Run stress tests to simulate user spikes

Use tools like BrowserStack, Firebase Test Lab, and TestFlight to check across devices and environments

Catching bugs early prevents bigger issues later.

9. Launch in Stages

Instead of rushing to a big launch, rolling out gradually helps spot issues and make improvements faster.

Start with a soft launch (private beta or limited region)

Gather feedback and fix high-priority issues

Prepare app store listings with clear descriptions, visuals, and keywords

A staged launch offers more control and more learning opportunities.

10. Plan for the Long Term

Apps like Fetch Rewards aren’t static. They need ongoing updates, new features, and periodic performance reviews.

Maintain a product roadmap with short- and long-term goals

Set up regular analytics reviews to track feature usage

Stay updated with OS, API, and compliance changes

Loyalty apps that succeed usually grow gradually and improve through ongoing iterations, rather than trying to do everything at once.

Estimated Cost Ranges by App Complexity

Understanding how much it costs to build a rewards app like Fetch depends largely on the features you want, the depth of integrations, and how scalable your product needs to be from day one.

1. Basic Version (MVP)

This version includes the essential features needed to test the concept and validate user interest.

Core Features:

Receipt scanning

Basic points and rewards logic

Simple user registration and profile

Basic admin dashboard

Ideal For: Startups testing market demand

Estimated Cost: $10,000 to $20,000

2. Mid-Tier Version

A more robust build with user engagement tools and integrations.

Additional Features:

Gamification (badges, streaks, challenges)

Real-time analytics and user behavior tracking

Brand integration and promotional campaigns

Push notifications and email triggers

Ideal For: Growing businesses looking to scale and monetize

Estimated Cost: $20,000 to $60,000

3. Premium Version

A high-end loyalty app tailored for scalability, personalization, and enterprise-level partnerships.

Advanced Features:

AI-driven personalized rewards and recommendations

Deep third-party integrations (CRM, payment gateways, e-commerce)

High-performance architecture for large user bases

Advanced data security and compliance (GDPR, CCPA, PCI-DSS)

Ideal For: Enterprise brands or VC-backed startups

Estimated Cost: $60,000 to $80,000+

ComponentEstimated Cost Range (in USD)UI/UX Design$5,000 — $15,000Front-End & Back-End Dev$15,000 — $50,000Testing & QA$5,000 — $10,000Maintenance & Updates$5,000 — $15,000/year

What Drives the Total Cost of Your Rewards App?

Understanding what influences the cost of building a rewards app like Fetch can help you plan smarter and avoid surprises down the line.

It is not just about how much code is written but about what you want the app to do, how you want users to feel while using it, and how well it integrates into your business ecosystem.

Let’s walk through the key elements that can shape your budget.

1. The Features You Choose Define the Foundation

Every feature you add such as receipt scanning, real-time rewards, AI-driven personalization, or tiered loyalty levels will impact the amount of work and cost involved.

A simple app with a points system and a rewards catalog requires less effort. An experience that feels personalized, gamified, and smart takes more time and resources.

Ask yourself these questions:

Do users simply earn points or do they complete challenges and unlock badges?

Is the reward system static or dynamically generated based on user behavior?

The more complex the features, the more time it takes to build, test, and improve.

2. Design Is More Than Looks and Impacts Cost

Great design is not just about appearance. The more customized your app’s look and feel, the more time it takes to create wireframes, prototypes, animations, and responsive layouts. If you want smooth transitions and intuitive user flows, expect the design process to require more effort and several rounds of revision.

Think about it as designing the user’s emotions and experience, not just screens.

3. Integrations Add Layers of Complexity

Most rewards apps need to connect with other systems such as payment gateways, point-of-sale systems, loyalty engines, CRMs, or marketing platforms. Each integration adds development work, testing, and sometimes coordination with external vendors.

The more systems your app needs to communicate with, the more resources it will require to build and maintain those connections reliably.

4. Multiple Platforms Require More Planning

Are you launching on iOS first, or do you want to target both iOS and Android from the start?

Do you also need a web dashboard for administrators or partners?

Building for multiple platforms means writing more code and testing on different devices. It also means extra work to keep features and updates consistent across platforms as your app grows.

5. Who Builds Your App Matters

Your choice of development team strongly influences your budget. Here are the common options:

Freelancers usually charge less but might need more supervision and may offer limited post-launch support.

In-house teams provide greater control but come with higher operational costs and hiring challenges.

Agencies or experienced technology partners often cost more upfront but deliver faster, maintain higher quality, and bring expertise that can save time and money over the long run.

You are not just paying for code, but also for reliability, speed, and ongoing support.

6. Development Team Location Affects Rates

Where your development team is located also plays a role in your budget. Hourly rates can vary greatly:

Teams in the US or UK typically charge between $100 and $200 per hour

Eastern Europe and Latin America usually fall between $40 and $80 per hour

South Asia, including countries like India and Bangladesh, often charge between $25 and $50 per hour

Choosing the right team is about balancing cost with communication, quality, and delivery expectations.

Keep in Mind the Ongoing Costs

Launching your app is only the start. You also need to budget for hosting, maintenance, and updates.

Cloud hosting costs, with providers like AWS, Firebase, or Azure, will depend on your number of users and data storage needs.

App Store fees include annual publisher fees and a percentage of any in-app purchases.

Regular updates for features and security patches are essential to keep your app running smoothly and users happy.

The total cost of building a loyalty app depends on your choices around features, design, development team, and long-term goals. You do not have to build everything at once. It’s better to start with what offers real value and grow your app thoughtfully as your users and business expand.

Monetization Strategies for a Reward App Like Fetch

After investing in development, your next focus should be sustainability. A well-planned rewards platform does more than improve engagement.

It also creates multiple revenue streams that grow over time. Here are the most effective ways to monetize an app like Fetch Rewards.

1. Affiliate Commissions from Partner Brands

Each time a user makes a qualifying purchase, the brand pays your platform a small commission. This model allows you to reward users while generating revenue from brand partners. It creates value for all three parties.

2. Sponsored Offers and Paid Placements

Brands can pay to be featured in your app. You can reward users with extra points when they engage with these offers. This drives exposure for advertisers and builds a recurring income stream for your app.

3. In-App Purchases and Point Packs

Allow users to buy points directly or unlock premium rewards. This adds an optional monetization layer for users who want to redeem faster. The experience stays free for others while giving flexibility to those who want to pay.

4. Subscription Plans for Power Users

Offer a paid membership that includes faster redemptions, bonus points, or early access to offers. Subscriptions provide predictable monthly revenue while delivering more value to your most active users.

5. Analytics and Brand Insights

With proper permissions, your app can gather anonymized insights about user behavior and spending patterns. These insights can be shared with partner brands to help them run smarter campaigns and optimize offers.

How RaftLabs Supports Your Journey to Building a Rewards App Like Fetch?

Building a loyalty app means crafting a story that turns everyday users into passionate fans. We specialize in loyalty platforms that do exactly that, delivering consistent and easy-to-use experiences across both mobile and web to engage users at every touchpoint.

We partner with you from the earliest concept all the way through launch and ongoing support, helping you shape a product that truly connects customers to your brand while driving meaningful business results.

We are one of the best choices if you are looking for a web or mobile app development company that develops loyalty apps designed to grow your business.

Real-World Experience with Loyalty Apps That Work

Our work is proven in real projects. For example, with AldiFest in Ireland, we built a rewards platform where users uploaded receipts to win event tickets and gift cards. Thousands signed up within the first week alone.

In another case, we developed Instantor Rewards, a B2B app where tradespeople earned points and competed for monthly prizes by submitting receipts. This helped improve customer retention and maintain steady engagement.

We have also helped other clients build loyalty and rewards apps and proudly witnessed an increase in customer engagement of over 60 percent within just a few weeks. These examples show how a well-designed rewards app can directly impact sales and build lasting loyalty.

From Idea to Launch, We Handle It All

Building a loyalty app requires more than great ideas. You need a strong foundation. That is why we take care of every layer, from user experience design and wireframes to AI-driven personalization and analytics dashboards.

We work side by side with you to prioritize features and make data-driven decisions that ensure your app delivers real value. After launch, we stay involved by monitoring performance, fixing issues quickly, and rolling out updates that keep your users engaged and satisfied.

A Flexible Approach Tailored to Your Needs

Every business is different. Whether you are a startup founder testing a new idea or a large enterprise modernizing an existing loyalty program, we adapt our process to fit your timeline, budget, and goals.

We focus on lean development and fast delivery cycles so you can see results quickly without unnecessary complexity. Our goal is to help you build a loyalty app that grows with your business and delivers measurable outcomes from day one.

Final Thoughts

Creating a rewards app like Fetch Rewards in 2025 is a real opportunity. The market is growing fast, user expectations are evolving, and brands are looking for smarter ways to build loyalty.

But success depends on more than great features — it takes clear strategy, the right technology, and a product experience people want to keep coming back to.

As mentioned, we’ve helped businesses launch high-performing loyalty platforms that engage users and drive measurable growth.

Whether you’re planning your first launch or looking to improve what you already have, we can guide you on how to make a rewards app that truly delivers.

If you’re serious about building a rewards app that keeps customers coming back, let’s connect. We love partnering with innovators ready to make a real impact.

Got a loyalty app idea? Let’s bring your loyalty software to life together, thoughtfully, efficiently, and with your long-term success in mind.

This article was originally shared on RaftLabs

[raftlabs]

8 SaaS Communities You Need to Join in 2025

Find your tribe, skip the guesswork, grow smarter.

Starting or growing a SaaS product? You don’t have to go it alone.

Whether you're bootstrapping your first product, scaling your startup, or trying to find product-market fit—joining the right SaaS community can save you time, money, and mistakes. These communities are filled with people who’ve already faced (and solved) the challenges you're dealing with right now.

This guide breaks down 8 of the most helpful SaaS communities in 2025—where to join, what you’ll get, and who they’re best for.

Why SaaS Founders Thrive in Communities

SaaS is hard. Code, customers, churn, funding—there’s a lot to figure out.

But here’s the truth: you’re not the first to do this. Thousands of founders are walking this path—and many of them are sharing what they learn in real time.

The right community can help you:

Ask for feedback before launching

Learn from other founders’ wins (and mistakes)

Find partners, co-founders, or even investors

Stay motivated when things get hard

Discover growth tactics that actually work

Let’s look at where the most helpful convos are happening.

The Top 8 SaaS Communities to Join in 2025

1. SaaStr

Best for: SaaS founders, executives, and enterprise teams

SaaStr is the largest SaaS community on the planet, with over 500,000+ members. From events like SaaStr Annual and SaaStr Europa to blog posts, podcasts, and mentoring, it's a goldmine of B2B growth wisdom.

Why it’s great:

Massive network of founders and execs

Access to investor-backed insights

Amazing in-person and virtual events

Cost: Free for basic access, events are paid

2. SaaS Alliance

Best for: Founders and execs seeking strategic peers

This Slack community connects over 3,000 SaaS leaders, with regular meetups and ongoing peer collaboration. It’s all about solving real challenges with real-time feedback.

Why it’s great:

Peer-to-peer support

Stay ahead of trends

Ideal for building your SaaS brand through discussion

Cost: Free to join

3. Indie Hackers

Best for: Bootstrapped founders, solo makers, and side-hustlers

Indie Hackers is where you go when you're building something solo—or with a tiny team—and want to stay lean, scrappy, and focused.

Why it’s great:

Raw, honest stories from real builders

AMA-style interviews

Great for MVP feedback and finding accountability buddies

Cost: Free

4. SaaS Growth Hacks (Facebook Group)

Best for: Founders focused on growth and marketing

This private Facebook group has 30,000+ active SaaS founders and marketers, all focused on one thing: scaling. If you're looking for conversion tricks, onboarding flows, or funnel feedback—this is your crowd.

Why it’s great:

Hands-on growth advice

Active community of founders and growth marketers

Great for marketers working on SaaS tools

Cost: Free

5. Growmance (Slack Group)

Best for: Growth marketers and SaaS marketing teams

Growmance is a high-value community of 16,000+ professionals focused on growth hacking, performance marketing, and community-led growth for SaaS.

Why it’s great:

Focused Slack channels by topic

Access to pros across industries

Built-in job board for SaaS talent

Cost: Free

6. Lunadio (Discord Server)

Best for: Early-stage SaaS founders and bootstrappers

Lunadio offers a tight-knit Discord group of about 1,400 members, where early founders exchange advice, do feedback swaps, and talk strategy.

Why it’s great:

Smaller = more focused

Weekly brainstorms and feedback sessions

Friendly space for early-stage founders

Cost: Free

7. r/SaaS (Reddit)

Best for: Anyone with a SaaS product or idea

This subreddit has over 253,000 members and is great for broad, open discussions—everything from tech stack debates to pricing strategy help.

Why it’s great:

Fast, crowd-sourced feedback

Anonymous if you want it to be

Ideal for both devs and non-tech founders

Cost: Free

8. Founderpath / Founderled

Best for: Bootstrapped SaaS companies looking for funding or resources

Founderpath isn’t just a financing platform. It offers access to founder-only groups, bootstrapping playbooks, and tools for non-VC-backed SaaS startups.

Why it’s great:

Non-dilutive funding options

Tactical resources for growth

Built for sustainable, founder-owned SaaS businesses

Cost: Free to join; platform services may include fees

What Makes These Communities Valuable?

When you join the right SaaS community, you get more than advice—you get:

Real stories, not just theory

Mentorship without formal programs

A pulse on emerging trends

The chance to give back while growing yourself

These spaces are where new features get tested, funding strategies are dissected, and successful SaaS companies quietly take shape.

What’s Next?

If you’re building a SaaS product (or thinking about it), now is the time to join one or more of these communities. They’re free, founder-friendly, and full of lessons you don’t have to learn the hard way.

And if you're in the middle of development or evaluating your tech stack—consider partnering with a development team that understands the SaaS journey from start to scale.

Need Help Bringing Your SaaS Product to Life?

At RaftLabs, we’ve worked with dozens of SaaS founders to build custom products across industries—from healthcare to marketing tech.

We’re not just coders. We’re product thinkers, UX strategists, and partners in growth.

Find the orginally drafted content at Raftabs

[raftlabs]

11 AI SaaS Ideas That Could Make You a Founder in 2025

So you’re thinking about starting a SaaS company—but not just any SaaS. You want to build something that actually solves a problem, taps into the power of AI, and doesn’t get lost in a sea of forgettable apps.

This post is your roadmap. We’ll explore:

Why launching a SaaS company makes sense

Why AI and SaaS together offer unmatched potential

11 startup-worthy AI SaaS ideas across industries

How to validate your idea before coding

Mistakes to avoid

And how to team up with the right partner to build it right

Why SaaS? Why Now?

Here’s why the Software as a Service (SaaS) model is ideal for founders in 2025:

Low startup costs – No inventory, no warehouse. Just smart software.

Predictable revenue – Subscription models offer recurring income and stability.

Global reach – Your product is cloud-based, available anywhere.

Easy maintenance – Updates, bug fixes, and features happen in real-time.

Fast scalability – Cloud platforms and APIs let you grow quickly.

Now add Artificial Intelligence (AI) to that, and you unlock a new level of automation, personalization, and insight.

With over 67% of SaaS companies already using AI to enhance their value, the window for building something powerful is wide open.

11 Profitable AI SaaS Ideas for 2025

These ideas are more than trends—they’re practical, scalable, and ready for real-world impact.

1. AI-Powered Content Generation Tools

What it does: Automates creation of blog posts, social media captions, product descriptions, and more.

Use case: Ideal for content teams, agencies, freelancers, and solopreneurs.

Why it works: Cuts down content creation time without sacrificing quality.

Revenue model: Subscription tiers based on usage volume, language options, or output formats.

2. AI-Driven Analytics Platforms

What it does: Turns complex datasets into real-time, actionable insights.

Use case: Used by marketers, founders, and product managers to make faster decisions.

Why it works: AI identifies trends that humans miss, accelerating growth strategies.

Revenue model: SaaS plans with API access and white-labeled dashboards for businesses.

3. AI for Audience Monitoring

What it does: Tracks keywords, sentiment, and online mentions across platforms.

Use case: Helps social media managers, PR teams, and founders keep up with brand perception.

Why it works: Keeps businesses informed and responsive without manual monitoring.

Revenue model: Charge per keyword, social profile, or number of alerts per month.

4. AI Image & Video Analysis

What it does: Analyzes images or videos for insights—object recognition, facial detection, and scene context.

Use case: Applications in healthcare, tourism, e-commerce, and fitness.

Why it works: Saves hours of manual tagging and gives deeper, data-rich results.

Revenue model: API-based pricing or subscription models per upload volume.

5. AI-Powered Financial Management

What it does: Handles tasks like budgeting, expense tracking, and invoice generation.

Use case: Perfect for small business owners, solopreneurs, and freelancers.

Why it works: Simplifies complex financial tasks and offers real-time insights.

Revenue model: Monthly subscriptions, with higher tiers for premium features like forecasting.

6. AI for Human Resource Management

What it does: Automates hiring processes, sentiment analysis, and employee engagement monitoring.

Use case: Startups and SMEs looking to scale without overburdening HR.

Why it works: Optimizes hiring and enhances employee satisfaction tracking.

Revenue model: Plans based on number of users, hiring campaigns, or employees monitored.

7. AI Audio Content Creation

What it does: Generates high-quality voiceovers, narration, and podcast audio.

Use case: Used by content marketers, educators, and creators.

Why it works: Saves time and cost on recording and editing.

Revenue model: Per-project pricing or monthly access to audio generation tools.

8. AI-Powered Target Marketing

What it does: Customizes ads, emails, and product offers based on behavior and preferences.

Use case: eCommerce stores, SaaS companies, and marketing agencies.

Why it works: Personalized content converts better than generic campaigns.

Revenue model: Subscription tiers based on number of users, emails, or AI personalization depth.

9. AI Inventory Management

What it does: Predicts product demand, tracks stock levels, and automates restocking.

Use case: Retailers, wholesalers, and DTC brands managing complex supply chains.

Why it works: Reduces stockouts and waste while increasing efficiency.

Revenue model: Monthly pricing based on number of SKUs or warehouses.

10. AI Course Generation

What it does: Creates custom digital course content, microlearning modules, and quizzes.

Use case: Educators, coaches, online schools, and corporate trainers.

Why it works: Reduces time and cost of content creation while enhancing personalization.

Revenue model: Monthly subscriptions or pricing per number of course modules created.

11. AI for Business Decision Making

What it does: Analyzes internal data and market conditions to recommend strategies.

Use case: Business executives, operations managers, startup founders.

Why it works: Enables smarter, faster decisions based on predictive models.

Revenue model: Enterprise-level SaaS pricing with features like scenario modeling and custom dashboards.

How to Validate Your AI SaaS Idea

Before writing any code, take these steps to make sure people actually want what you're building:

Create wireframes or simple mockups

Share with real potential users (not just friends)

Launch a landing page to collect interest

Build a no-code MVP if possible

Analyze competitors and find your edge

Common Mistakes to Avoid:

Skipping proper research

Falling in love with your own idea too soon

Over-engineering your MVP

Ignoring the competition

Staying lean, feedback-focused, and iterative will save you time and money—and increase your chances of success.

Building Your SaaS Product with the Right Partner

If you’re ready to build your AI SaaS product but don’t want to do it alone, a third-party partner can make all the difference.

RaftLabs is a custom SaaS development company that has helped more than 18 startups bring their ideas to life in the last 24 months. Whether you need help with ideation, UX design, development, or post-launch support, their team specializes in creating powerful AI-powered web, mobile, and cloud-based applications.

They don’t just build products—they partner with you to create solutions that are scalable, secure, and future-ready.

Originally drafted at Raftlabs

[raftlabs]

9 SaaS Apps Solving Real Problems (And What You Can Learn From Them)

So, you’ve got a SaaS idea. Maybe it’s got slick features, AI magic, and a clean UI. But here’s the real question:

Does it solve a real problem?

In a world full of feature-stuffed apps, the SaaS products that win are the ones that make life easier for their users.

Let’s break down 9 standout SaaS applications that have nailed this, and how you can apply their lessons to your own SaaS journey.

1. PDC Remote Care

Industry: Healthcare

PDC is transforming patient care with real-time monitoring and AI-powered health insights. Doctors get live data from patients, plus automated alerts based on patient vitals and medical history.

Why it works:

Proactive care

Reduced costs

Personalization at scale

Takeaway for founders: If your SaaS app can save time and lives—you're onto something.

2. PSi (People Supported Intelligence)

Industry: Enterprise Decision-Making

PSi analyzes massive conversations to provide real-time decision support. Think stakeholder maps, sentiment analysis, and even identifying polarization points in discussions.

Why it works:

Solves the “too many opinions” problem

Speeds up complex decision-making

Helps large orgs work smarter

Founder tip: If you can turn messy data into clarity, you’ve got SaaS gold.

3. Perceptional

Industry: UX & Product Research

AI-led chat interviews that go deep—real deep. Perceptional generates follow-ups on the fly and delivers more valuable user insights in way less time.

Why it works:

Faster than traditional research

More depth than surveys

Scalable qualitative data

What to learn: Replace outdated workflows with speed, smarts, and simplicity.

4. Sekou

Industry: EdTech (Africa-focused)

An all-in-one LMS tailored for French-speaking African schools. It handles everything—attendance, grades, parent-teacher communication, payroll.

Why it works:

Localized desig

Multilingual

Unified admin + education tools

Lesson: Niches make riches. Local solutions = global opportunities.

5. Salesforce

Industry: CRM

You know it. Salesforce is the OG of customer management, now powered by AI. It predicts customer behavior and automates repetitive workflows.

Why it works:

Deep integration

Data-driven decisions

AI-powered engagement

SaaS truth: Automate what matters most to your users.

6. Adobe Creative Cloud

Industry: Design / Creative

Adobe’s cloud suite powers designers, editors, and creatives with AI-driven tools + real-time collaboration.

Why it works:

Seamless team collab

Cloud-first flexibility

AI saves creative time

Insight: Creative industries love SaaS that removes technical friction.

7. Slack

Industry: Workplace Collaboration

Slack organizes communication into searchable channels, slashing email clutter and integrating dozens of tools.

Why it works:

Real-time team messaging

Tons of integrations

Built for async + remote work

Hot tip: Solve everyday team chaos and people will love you for it.

8. Tableau

Industry: Business Intelligence

Tableau visualizes complex data so non-techies can make smart calls fast. Drag, drop, and boom—insights.

Why it works:

Data made human

Interactive dashboards

Real-time analytics

Takeaway: Make the complex simple. Users will thank you.

9. Lark

Industry: Productivity

Lark bundles chat, docs, calendar, and video in one app. No more app switching. No more chaos.

Why it works:

All-in-one workplace

Global features (like real-time translation)

Smart tools built-in

Note to self: Less app clutter = higher productivity.

What These Apps Teach Us

These apps aren’t successful just because of design or features. They win because they:

Solve a specific problem

Deliver a seamless experience

Keep it simple, scalable, and smart

So… what’s your app solving?

How to Validate Your SaaS Idea (Before You Build)

Before you go full send into development, make sure people want what you’re building:

Sketch a prototype. Use tools like Figma to test ideas early.

Build a basic MVP. Include just the must-have features.

Talk to real users. Not just your friends—go find your actual target audience.

Check the competition. See what’s missing in their offerings.

Launch a landing page. Test demand and collect early emails.

Apps like Slack and PSi started small and evolved with feedback. Yours should too.

🚫 Mistakes to Avoid When Validating Your SaaS Idea

Here’s what NOT to do:

❌ Getting emotionally attached to your idea ❌ Only asking people who’ll say “It’s great!” ❌ Ignoring competitors ❌ Trying to build every feature at once

Stay lean. Stay curious. Stay focused.

Need Help Building Your SaaS App?

If you're exploring the SaaS space and need a reliable development partner, RaftLabs can help as a third-party expert. They specialize in building scalable, user-friendly SaaS applications across industries like healthcare, education, and media. Whether you're just validating your idea or already deep in development, RaftLabs brings a blend of technical expertise and product strategy to the table. Their team can support you in creating wireframes, building MVPs, selecting the right tech stack, and ensuring smooth post-launch scaling. As an external partner, they bring fresh perspective, flexibility, and proven experience—making them a solid choice for founders who want to stay focused on vision while the heavy lifting is handled by experts.

Originally posted at Raftlabs

[raftlabs]

The Ultimate Guide for First-Time SaaS Founders

If you're dreaming about launching a SaaS app but aren't sure where to begin, you're not alone. The SaaS (Software as a Service) model is one of the most scalable and profitable business types out there, but building one takes more than just a good idea.

This guide will walk you through the essentials, how SaaS works, why it’s perfect for startups, and the exact steps to take your product from sketchpad to success.

What Is SaaS?

SaaS stands for Software as a Service. It’s software that lives in the cloud and can be accessed anytime, anywhere—no downloads, no installation, and no maintenance for the user.

You’ve already used SaaS tools today—think Gmail, Canva, Google Drive, Notion, or Slack.

Instead of selling software as a one-time product, SaaS companies rent it out via subscription. This means recurring revenue for founders and constant updates and access for users.

Why it’s awesome for startups:

No need for bulky hardware

Minimal upfront investment

Global reach from Day 1

Continuous product improvement

Why SaaS Is a Game-Changer for Startups

SaaS has become the go-to model for modern startups because it's lean, scalable, and customer-focused. The cost of getting started is relatively low, and the potential upside? Massive.

Here’s what makes SaaS ideal for first-time founders:

Scalability: Build once, sell infinitely.

Agility: You can pivot easily based on user feedback.

Data-driven: You can track everything—usage, churn, engagement—and adapt in real time.

Low Barrier to Entry: With the right team, you can launch a working MVP in months, not years.

Projections show the SaaS market growing to over $900 billion by 2030—it’s a gold rush for anyone solving real problems with smart software.

Finding the Right SaaS App Development Company

Your product is only as strong as the team that builds it. Whether you're technical or not, choosing the right development partner is crucial to turning your vision into a real, working product.

Here’s what to look for:

SaaS-specific experience (web, mobile, or AI apps)

Understanding of your industry and goals

Cloud-native development (AWS, GCP, Azure)

Focus on user experience, not just code

Agile methodology for faster delivery and iteration

Post-launch maintenance & scaling support

Avoid teams that push fancy features without solving real user problems. Simple, intuitive, problem-solving apps always win.

Bonus tip: Look into reviews, testimonials, and case studies from other startups they've worked with.

Understanding Your Target Audience

Before you write a single line of code, know exactly who you're building for. Your product should be a solution to a specific pain point faced by a well-defined group of people.

How to define your target users:

What problem do they face every day?

How are they currently solving it?

Where do they hang out online?

What are they willing to pay for?

Go beyond demographics, focus on their challenges, behaviors, and goals. The more you understand them, the better your messaging, design, and features will be.

Use:

Customer interviews

Online forums (Reddit, Facebook Groups, Slack communities)

Surveys and polls

Feedback from early adopters

Tip: Partner with your dev team to include user testing and iteration in your roadmap.

Choosing the Right Technology Stack

Your tech stack is the foundation of your SaaS product. It determines how fast your app runs, how secure it is, and how easily it can scale.

Here’s a beginner-friendly SaaS stack setup:

Frontend (User Interface): React, Angular, or Vue

Backend (Logic & Data Processing): Node.js, Django, Ruby on Rails

Database: PostgreSQL, MongoDB

Hosting & Cloud: AWS, Google Cloud, Azure

Security: OAuth2, SSL, GDPR/HIPAA compliance tools

Your choice should depend on:

Project complexity

Team expertise

Budget

Long-term maintenance requirements

Don’t over-engineer—choose a stack that’s reliable, well-supported, and easy to build with.

Defining Your SaaS Business Model

A great product needs a sustainable business model. Your model should align with your audience, support your growth goals, and make pricing easy to understand.

Popular Pricing Models:

Flat Rate: Simple, but doesn’t scale well

Per-User Pricing: Ideal for B2B teams

Tiered Pricing: Different packages for different needs

Usage-Based (Pay-As-You-Go): Great for cloud services

Freemium: Basic version free, premium upgrades available

Revenue Streams to Consider:

Add-on features

API access or integrations

Affiliate partnerships

White-labeled versions

Your pricing should reflect the value you’re offering—not just the features.

Join SaaS Communities for Support & Inspiration

Being a founder can feel lonely, but there are thousands of people on the same journey. Online SaaS communities are goldmines for feedback, support, and early traction.

Places to join:

Indie Hackers – real stories from bootstrapped founders

SaaS Twitter – industry convos, founder threads, investor tips

Slack Groups & Discord Servers – tight-knit circles for idea-sharing

Product Hunt – perfect for launching and getting initial traction

By connecting with others, you get access to:

Partnerships

Beta testers

Hiring help

Growth hacks

Emotional support

🚫 Common Mistakes SaaS Founders Should Avoid

Every founder makes mistakes. But the smart ones learn from others first.

Here are the most common pitfalls:

Building before validating – Start lean. Launch an MVP and test.

Ignoring marketing – Start building your audience before your product.

Overpricing or underpricing – Don’t guess. Use feedback and test tiers.

Hiring too early – Avoid big overheads until your core product is working.

Skipping user support – Early users = your goldmine of feedback.

Keep your team small, your process agile, and your users close.

Final Thoughts: Your SaaS Success Roadmap

Launching a SaaS business isn’t easy—but it’s absolutely doable with the right mindset, plan, and community behind you.

To recap, here’s your startup checklist:

Understand SaaS basics

Validate your idea

Choose the right development partner

Define your audience

Select a scalable tech stack

Design a sustainable business model

Join active SaaS communities

Avoid common founder mistakes

You’ve got the roadmap. Now take the first step.

If you’re looking for a trusted partner to help build and scale your SaaS product, RaftLabs might just be your secret weapon. As a product-focused SaaS development company, RaftLabs specializes in creating custom web, mobile, and AI-powered applications tailored to the unique needs of startups. Whether you're in healthcare, education, media, or any fast-moving industry, their agile development approach helps you move quickly, test often, and deliver real value to your users. From idea validation and UX design to backend architecture and post-launch scaling, their team works alongside you like a true tech partner—not just a vendor.

Originally posted at https://www.raftlabs.com

[raftlabs]

What Does It Cost to Build a Loyalty Program in 2025: Expert Cost Analysis

Businesses today depend on multiple SaaS applications to streamline their operations. In fact, companies use an average of 112 SaaS apps for project management, customer support, marketing, and more.

And it’s not slowing down—86% of enterprises plan to increase their SaaS spending.

If you’re considering building a SaaS app, understanding the cost factors and investment required is crucial. So, how much does it actually cost to develop a SaaS platform? Let’s break it down.

What is a SaaS App?

SaaS (Software as a Service) apps run on cloud servers and are accessible via web browsers. Unlike traditional software, SaaS applications:

Don’t require installation – Everything runs on the cloud. Offer automatic updates – No manual downloads or patches. Work across all devices – No compatibility issues.

Many businesses are now building their own SaaS platforms instead of juggling multiple third-party tools. This allows for better control, seamless integration, and revenue generation. But before you dive in, you need to understand the cost factors involved.

How Much Does It Cost to Build a SaaS App?

The cost of developing a SaaS platform depends on several key factors:

Features & Complexity 🔹 Basic apps with standard features are cheaper to develop. 🔹 Advanced features like AI-powered automation, real-time updates, and video streaming increase costs.

UI/UX Design 🔹 Simple design = lower cost 🔹 Custom, interactive UI with animations = higher cost

Integrations & Third-Party Services 🔹 Payment gateways, CRM integrations, and API connections add development time and cost.

Development Team & Location 🔹 Hiring freelancers, an in-house team, or outsourcing to a SaaS app development company all have different price points.

Security & Compliance 🔹 SaaS apps dealing with sensitive data (finance, healthcare) require GDPR, HIPAA, or PCI-DSS compliance, increasing development costs.

SaaS App Development Cost Breakdown

SaaS App Type Features Timeline Cost Estimate Examples: Basic SaaS App 1-2 core features, simple design 6-8 weeks $10K - $20K Basic invoicing tools like early FreshBooks Mid-Level SaaS App Custom design, integrations 12-14 weeks $20K - $60K Collaboration tools like Trello, Zendesk Advanced SaaS App AI, automation, complex analytics Varies $100K+ AI-driven SaaS like Grammarly, Notion For a detailed cost breakdown, check out our full guide here.

How Much Does It Cost to Build an AI-Powered SaaS App?

AI-powered SaaS applications require more investment due to added complexities like:

Machine learning models & data processing

Advanced automation & predictive analytics

Higher infrastructure & cloud storage costs

AI SaaS Development Costs:

Basic AI automation tools: $20K+

Advanced deep learning solutions: $150K+ The SaaS Development Process: Stages & Costs

Product Roadmapping 🔹 Research & plan features, competitors, and user needs.

UI/UX Design 🔹 Create a seamless user experience with wireframes & prototypes.

MVP Development 🔹 Build a Minimum Viable Product (MVP) to test features before full development.

Full Development 🔹 Developers build the backend, frontend, database, and integrations.

Quality Testing & Security 🔹 Identify and fix bugs before launch.

Deployment & Maintenance 🔹 Ongoing updates, bug fixes, and performance enhancements.

How to Reduce SaaS Development Costs Without Sacrificing Quality

✅ Start with an MVP – Build a basic version before scaling. ✅ Use pre-built APIs – Save development time on payments, authentication, etc. ✅ Consider outsourcing – A SaaS development company can streamline the process. ✅ Plan for scalability – Avoid expensive rework later.

Hiring the Right SaaS Development Team Team Type Pros Cons Estimated Cost Freelancers Low-cost, flexible Inconsistent quality, no long-term support $15 - $100/hr In-House Team Full control, stability High salaries & overhead costs $80K - $150K/year per dev Outsourcing Cost-effective, reliable Less direct control $40K - $150K+ per project 🔹 Best Choice? A trusted SaaS app development company provides structured workflows, security, and long-term support.

Hidden SaaS Development Costs to Consider ❗ Cloud Hosting & Servers – Monthly fees for AWS, Google Cloud, or Azure. ❗ Security & Compliance – Costs for audits, encryption, and data protection. ❗ Third-Party Services – Subscription fees for APIs, payment gateways, and analytics tools. ❗ Ongoing Maintenance – Bug fixes, updates, and customer support.

Why Build a SaaS App? The ROI Potential

SaaS development is an investment, but it pays off. Here’s why:

✔ Recurring Revenue Model – Monthly & yearly subscriptions ensure steady cash flow. ✔ Scalability – A well-built SaaS app can serve thousands to millions of users. ✔ Competitive Edge – Custom-built solutions give you full control over features & branding.

💡 Real-World Success Stories: Smart Cost-Saving Strategies ✅ Dropbox – Used an MVP-first approach to validate demand. ✅ Slack – Outsourced early development to reduce costs. ✅ Airbnb – Leveraged existing platforms before building their own. ✅ Instagram – Focused on a simple tech stack before scaling.

SaaS Pricing Models: Fixed, Hourly, or Dedicated Team? 1️⃣ Fixed-Price Contracts – Best for small projects with a clear scope. 2️⃣ Time-and-Materials – Ideal for flexible projects, but costs can rise. 3️⃣ Dedicated Team Model – Full-time developers for long-term projects.

Choosing the right model can save significant time and money.

Ready to Build Your SaaS App? Let’s Talk! Developing a SaaS platform requires the right strategy, team, and budget planning. Whether you’re looking to launch an MVP or scale an AI-driven SaaS product, we can help!

Contact us today! RaftLabs

[raftlabs]

Transform Loyalty Programs and Boost Customer Engagement

Have you ever collected stickers or bus tickets as a child?

Do you remember why you did it?

It was probably the thrill of earning a reward or the satisfaction of working toward a goal. That same sense of accomplishment and recognition follows us into adulthood, fueling the appeal of receipt rewards.

From the childhood joy of collecting stickers to the adult satisfaction of earning points for a free coffee, the desire for achievement and appreciation stays constant.

Receipt scanning taps into this natural human behavior by offering instant rewards for everyday actions. Unlike traditional loyalty programs that demand frequent purchases or long commitments, receipt scanning provides immediate value after a single transaction, making it simple and engaging.

For many, scanning a receipt becomes a fun, almost gamified experience. It turns an ordinary task into an exciting moment, adding a layer of enjoyment to routine purchases.

This innovative approach appeals to a wide audience, transforming a mundane action into an opportunity for rewards and fostering greater engagement.

By making receipts the gateway to rewards, brands create a win-win scenario: customers feel valued, and businesses collect valuable insights in a way that feels seamless and non-intrusive.

Understanding Receipt Scanning in Loyalty Programs

Receipt scanning is a game-changing approach that allows customers to earn rewards simply by scanning their purchase receipts.

This not only enhances the overall customer experience but also provides valuable insights that businesses can use to improve their offerings.

Walking out of your favorite store, receipt in hand, knowing a quick scan will unlock points, discounts, or exclusive offers feels like turning a mundane task into a game where every scan is a step closer to a sweet reward.

This convenience has become a major draw for modern shoppers looking for a seamless and enjoyable way to earn perks.

Businesses are catching on to the power of receipt scanning solutions to boost customer retention and increase engagement. By integrating this simple yet effective feature, companies can create a seamless, rewarding experience that keeps customers coming back.

Did you know that over 90% of companies now have some form of loyalty program strategy?

Try this: Google your favorite brand along with “rewards program” or “membership.”

Chances are, you’ll find a result instantly. This highlights how loyalty strategies are becoming indispensable in today’s competitive market.

So, why should receipt scanning be part of your loyalty program strategy? Let’s break it down:

By integrating receipt scanning solutions into loyalty programs, businesses can enhance customer experiences while driving growth through actionable insights.

Steps to Implement Receipt Scanning in Your Loyalty Program

As a loyalty app development company, we understand that implementing receipt scanning into your loyalty program can elevate customer engagement and retention. Here’s how we approach creating seamless, customer-friendly solutions:

Step 1: Choosing the Right Receipt Scanning Solution

The foundation of any successful receipt scanning solution is selecting the right technology. Businesses must integrate solutions that are user-friendly, secure, and compatible with their existing loyalty programs.

Whether it’s a mobile app or a web platform, our goal is to ensure a seamless experience for users.

For instance, we’ve seen success stories like AldiFest and Instantor, where innovative receipt scanning solutions helped drive customer engagement.

Aldi sought to deepen customer loyalty in Ireland with a unique approach, creating a mobile responsive web app that rewards customers for uploading receipts and participating in competitions.

Similarly, Instantor recognized the need to reward loyal plumbers and installers by offering a rewards app that incentivizes repeat purchases through easy receipt uploads and monthly competitions.

Step 2: Designing an Intuitive Receipt Scanning Process

The key to customer satisfaction is simplicity.

Businesses must ensure their receipt scanning process is intuitive, requiring only a few taps for users to upload their receipts. Advanced backend systems verify the purchase and reward the user instantly.

Your customers will appreciate receipt scanning for its convenience. By designing a streamlined process, we help businesses eliminate friction and enhance the overall user experience.

Step 3: Setting Up a Flexible Reward Structure

Defining the right reward structure is essential to keep customers engaged. You must design reward systems that align with your business goals-whether it’s points, discounts, or exclusive offers.

Personalization is the game-changer here.

For example, offering extra points for specific categories like groceries or electronics keeps users motivated and eager to participate.

By integrating receipt scanning technology into a loyalty program, businesses can offer tailored rewards that align with individual purchasing habits.

Step 4: Delivering a Seamless User Experience

No matter how robust the feature, a smooth experience is vital for its success. Your approach must involve continuous monitoring, testing, and optimization to ensure users encounter no delays or technical issues.

Take AldiFest as an example: their receipt scanning solution, seamlessly integrated into their mobile responsive web app, boosted engagement and customer satisfaction.

Ultimately, with the right receipt scanning solution, businesses can transform simple transactions into rewarding experiences that keep customers engaged and coming back for more.

Best Practices for Receipt Scanning in Loyalty Programs

As a loyalty app development services company, we know that receipt scanning can significantly enhance your loyalty program by boosting engagement and customer satisfaction. Here are some best practices we recommend to make the most of receipt scanning:

A well-defined reward structure is key to making receipt scanning a seamless and valuable experience for your customers. When users understand exactly what they can earn-whether it’s points, discounts, or exclusive offers-they’re more likely to keep scanning.

A transparent system helps build trust and encourages consistent use, making receipt scanning a natural part of their shopping routine.

For example, platforms like Fetch Rewards succeed by offering tiered rewards, giving users a sense of progression and achievement as they scan more receipts.

Personalization is a game-changer for loyalty programs. By offering tailored rewards based on specific purchase behaviors-such as grocery shopping or electronics-customers feel seen and appreciated.

This not only makes receipt scanning more enjoyable but also keeps them engaged.

Customers are more likely to scan receipts when personalized incentives are involved. It creates a dynamic experience that caters to individual preferences, making loyalty programs feel more meaningful.

Receipt scanning provides a treasure trove of data about customer buying habits. By analyzing this data, businesses can create highly personalized offers and recommendations.

While receipt scanning solutions bring many benefits, they aren’t without challenges. Understanding these challenges and how to overcome them is key to successful implementation.

Common Challenges

Technical Issues: Sometimes, customers may face difficulties when uploading or scanning receipts.

Data Privacy Concerns: Ensuring secure handling of customer data is critical to maintaining trust.

Customer Awareness: Not all customers are aware of receipt scanning options, leading to underutilization.

Solutions

Companies like Aldi, Walgreens, and Target have successfully overcome these challenges by integrating seamless receipt scanning solutions, leading to higher customer satisfaction and increased loyalty program participation.

Future of Receipt Scanning in Loyalty Programs

The future of receipt scanning in loyalty programs is bright, with emerging trends and advanced technologies shaping the landscape.

Emerging Trends

AI-Driven Insights: Advanced analytics enable businesses to extract deeper insights from scanned receipts, delivering more tailored customer experiences.

Integration with IoT: Receipts from smart devices or connected appliances provide richer data and personalized rewards.

Blockchain for Security: Blockchain technology ensures data security, protecting sensitive customer information as a standard practice.

Digital Receipts in the Spotlight: As digital receipts become more popular, future trends focus on enhancing their integration. Businesses can explore features like automated categorization, real-time data sync, and seamless cross-platform experiences.

Headless CMS for Loyalty Programs: Receipt scanning solutions become even more efficient when integrated into a headless CMS. It simplifies loyalty programs by decoupling the front-end from the back-end, supporting real-time data integration and tailored content delivery, thus providing flexibility and efficiency.

To stay ahead in customer engagement, businesses must adopt these innovative solutions. By using advanced receipt scanning tools, companies can offer a more comprehensive and personalized loyalty program, fostering long-term customer relationships.

Conclusion

Receipt scanning has proven to be a powerful tool in enhancing customer engagement and loyalty. By implementing best practices, addressing challenges effectively, and staying updated with emerging technologies, businesses can create a seamless and rewarding experience for their customers.

If you’re looking to build a loyalty platform that leverages receipt scanning technology that give you rewards for scanning receipts, contact us today. We’re here to help you create a solution tailored to your business needs and drive lasting success in a competitive market.

[raftlabs]

What Does It Cost to Build a Loyalty Program in 2025: Expert Cost Analysis

What Does It Cost to Build a Loyalty Program in 2025?

Have you ever wondered why brands like Harley-Davidson and McDonald’s invest heavily in loyalty programs?

The answer is simple: they work.

Harley-Davidson’s HOG Program: This community-driven initiative, launched in 1983, wasn’t just about rewards—it was about creating a family of loyal customers. Members spend 30% more than non-members, driving significant revenue and brand loyalty.

McDonald’s MyMcDonald’s Rewards: Far from being just another points system, this program generated $20 billion in sales in one year, showcasing the power of personalized incentives.

But how much does it cost to develop a loyalty program that achieves such results? Let’s break it down.

What Affects Loyalty Program Costs?

Building a loyalty program is not one-size-fits-all. The costs depend on various factors that influence its scope and complexity:

1. Business Size

Small Businesses: You might spend a few thousand dollars on simple, straightforward systems like stamp cards or basic web apps. These are perfect for startups or local businesses with a smaller audience.

Large Companies: For corporations managing millions of customers, advanced loyalty platforms with integrations, analytics, and scalability are necessary. These programs often require substantial investment.

2. Target Audience

Different demographics respond to different types of rewards:

Gen Z: They love gamified experiences, interactive features, and rewards that feel like a game. Adding these elements can increase engagement but also development costs.

Millennials: Prefer simple and effective cashback rewards or discounts. Programs tailored for this group may cost less to develop but still need customization for maximum appeal.

3. Platform Choices

The platform you choose significantly affects your costs:

Web Apps: These programs are cost-effective, easy to scale, and ideal for businesses with a strong online presence. They typically cost $20,000 - $60,000, depending on features.

Mobile Apps: Perfect for mobile-first users, especially in industries like retail or food delivery. However, they come with additional expenses like app store compliance and regular updates.

Hybrid Programs: Combine web and mobile platforms to offer seamless customer experiences. While highly flexible, they require higher upfront investment.

How Much Does It Cost?

Here’s a breakdown of costs based on the complexity of the loyalty program you want to build:

1. Basic Programs: $10,000 - $20,000

Best for: Small businesses or startups.

Features: Simple point tracking and basic reward systems.

2. Mid-Range Programs: $20,000 - $60,000

Best for: Growing businesses that need more flexibility and customization.

Features: Integration with existing systems, automated rewards, and multi-channel access to enhance customer engagement.

3. High-End Programs: $60,000+

Best for: Large enterprises with complex requirements.

Features: Advanced personalization with AI, gamification elements, real-time analytics, and full customization.

How to Build a Cost-Effective Loyalty Program

Want a loyalty program without breaking the bank? Focus on these steps:

1. Set Clear Goals

Define what success looks like for your program. Are you trying to drive repeat purchases, build customer retention, or increase brand loyalty? Clear goals will help you allocate resources effectively.

2. Segment Your Audience

Not all customers are the same! Group them based on behavior, preferences, or demographics to create tailored rewards. For example:

Offer frequent shoppers exclusive discounts.

Provide first-time buyers with a welcome bonus. This approach ensures your investment is targeted and impactful.

3. Use Scalable Tech

Avoid rigid systems that can’t grow with your business. Use technologies like microservices or API-first architectures that allow you to add features as your business expands.

4. Reward Smartly

You don’t need to go overboard with expensive gifts. Rewards like early access to sales, free shipping, or loyalty points can create the same sense of value at a fraction of the cost.

5. Review and Adjust Regularly

Don’t set it and forget it! Continuously monitor your program’s performance. Use customer feedback and data to tweak features, rewards, or engagement strategies for better results.

Hidden Costs to Consider

When budgeting for a loyalty program, keep an eye on these additional expenses:

Marketing Campaigns: Promoting your program via email, social media, or in-store campaigns can cost $500 - $5,000 per campaign.

Customer Support: Staff to handle inquiries and troubleshoot issues.

Data Management: Costs for storing and analyzing customer data, starting at $50/month.

Physical Rewards: If your program involves shipping items, factor in delivery and handling costs.

💡 Ready to build a loyalty program that stands out? Visit RaftLabs and schedule your consultation today. Let’s make it happen! 🚀

[raftlabs]

The AI-driven Healthcare Revolution: What’s Next?

The global healthcare IT market is on a rapid upward trajectory, projected to grow from USD 760.2 billion in 2024 to an impressive USD 1,834.3 billion by 2030. This surge highlights how swiftly technology is reshaping the healthcare landscape. At the forefront of this transformation is healthcare software development, driving innovation and revolutionizing the industry.

In this blog, we’ll dive into the key areas where medical software development is making a significant impact. Whether you’re part of a development team, a healthcare provider, or a tech entrepreneur, you’ll gain valuable insights into the future of healthcare and discover how you can contribute to this exciting evolution.

Let’s begin by exploring how these advancements are improving patient care worldwide.

AI in Healthcare: Ushering in a New Era of Personalized Patient Care

The core mission of healthcare software is clear: to enhance patient care. AI-powered technologies are enabling healthcare providers to deliver services that are more personalized, timely, and efficient. Let’s explore some of the key advancements driving this transformation:

AI-Enhanced Electronic Health Records (EHRs) AI optimizes EHRs by automating data analysis and uncovering patterns in patient histories. This leads to quicker diagnoses, customized treatment plans, and a significant reduction in human error.

AI-Driven Telemedicine Solutions Telemedicine platforms now leverage AI for features like symptom analysis, automated follow-ups, and predictive analytics, making virtual consultations more effective. With the telemedicine market expected to surpass $130.5 billion by 2025, its rapid growth is evident.

AI-Integrated Wearable Health Devices Wearables such as fitness trackers and smartwatches utilize AI to deliver real-time health insights. These devices empower patients to track their health and share critical data with providers, fostering proactive and collaborative care.

Now that we’ve seen how AI enhances patient care, let’s examine how custom healthcare software, powered by AI, is revolutionizing operational efficiency behind the scenes.

How AI Is Revolutionizing Healthcare Operations

AI in healthcare isn’t just about patient care — it’s reshaping the way organizations operate. By automating routine tasks and optimizing workflows, custom healthcare software reduces costs, improves resource allocation, and boosts overall efficiency. Let’s explore some key areas:

Hospital Management Systems (HMS) Administrative tasks such as appointment scheduling, patient record management, and billing can be time-intensive and prone to errors. HMS platforms automate these processes, allowing healthcare staff to focus on delivering quality patient care.

Data-Driven Decision-Making Data has become the backbone of modern healthcare. By leveraging AI and machine learning, providers gain insights into patient behaviors, disease patterns, and treatment outcomes, enabling more informed decisions.

With streamlined systems, protecting sensitive patient data is more crucial than ever. Here’s how AI helps safeguard trust:

AI’s Role in Protecting Patient Data and Trust

In healthcare, data security is non-negotiable. Custom healthcare software ensures both data protection and regulatory compliance, maintaining patient trust and safeguarding sensitive information.

Advanced Data Security: AI-driven systems use encrypted storage, secure protocols, and robust cybersecurity measures to prevent data breaches.

Regulatory Compliance: Software solutions are built to meet strict regulations like HIPAA and GDPR, ensuring organizations stay compliant with privacy laws.

Real-World Impact: AI-Powered Medical Software in Action

AI is already delivering results. Here are some real-world examples:

PDC (Remote Patient Monitoring Software): Supports remote care and chronic disease management.

Google AI: Improved breast cancer detection, reducing false negatives by 9.4% and false positives by 5.7%.

Canon Medical’s AiCE: Enhances CT and MRI imaging quality.

Aidoc: Uses AI to identify critical findings in medical scans.

Nuance’s Dragon Medical One: Transforms voice notes into accurate text, improving documentation.

GE Healthcare Command Center: Optimizes hospital resource allocation through predictive analytics.

Google’s DeepMind: Detects early signs of eye disease in diabetic patients, enabling timely treatment.

Emerging AI Trends in Healthcare

AI is driving innovative solutions across the healthcare spectrum. Key trends include:

Personalized Treatment Plans: AI tailors treatments based on genetic and medical history.

Predictive Analytics: Detects early health risks, predicting conditions like cardiac events.

Virtual Health Assistants: Provide 24/7 support for medical inquiries and medication reminders.

Enhanced Medical Imaging: AI analyzes scans to detect abnormalities and prioritize urgent cases.

Accelerated Drug Discovery: Speeds up the process by predicting drug safety and efficacy.

Remote Patient Monitoring: AI tracks vitals for proactive care, reducing hospital visits.

Streamlined Administration: Automates tasks like insurance claims and appointment scheduling.

Adaptive AI: Continuously evolves, with significant market growth expected.

AI for Elderly Care: Improves monitoring and support for aging populations.

AI in Surgical Robotics: Enhances precision and outcomes in complex procedures.

These advancements underscore AI’s pivotal role in revolutionizing healthcare.

Next, we’ll tackle the challenges of healthcare software development and how to overcome them.

Overcoming Challenges in Healthcare Software Development

Innovation in healthcare software comes with its own set of hurdles. Successfully navigating these challenges is crucial to harnessing AI’s potential. Here’s what organizations need to tackle:

High Initial Investment Developing custom solutions requires a significant upfront investment. However, the long-term benefits — improved efficiency, better patient outcomes, and operational savings — justify the cost.

Integration Complexities Integrating new AI-powered systems with existing legacy platforms can be a daunting task. It demands robust data pipelines and seamless compatibility to ensure smooth operation.

Ongoing Maintenance Healthcare software isn’t a one-and-done solution. Regular updates and maintenance are essential to keep systems running efficiently. This requires time, effort, and dedicated resources.

User Adoption Healthcare professionals may be hesitant to embrace new AI technologies. Proper training and ongoing support are key to driving adoption and ensuring systems are used effectively.

Choosing the Right Development Partner Selecting a development partner with expertise in healthcare, compliance, and system integration is critical. The right partner can help overcome these challenges and deliver tailored solutions that meet specific needs.

Despite these obstacles, the potential of AI in healthcare remains immense. Let’s take a closer look at what the future holds.

The Future of AI-Powered Medical App Development

The future of healthcare is being redefined by AI-driven software. From improving patient care to optimizing operations and safeguarding data, these technologies are revolutionizing the industry. Staying ahead in this fast-paced environment means embracing AI solutions to deliver better outcomes and create more efficient systems.

Investing in AI-powered healthcare app development offers transformative benefits. It’s a step toward improving patient outcomes, streamlining processes, and staying competitive in an evolving landscape.

As Steve Jobs famously said, “The people who are crazy enough to think they can change the world are the ones who do.”

Now is the time to innovate.

Ready to make an impact in healthcare? Schedule a free consultation with us, and let’s bring your vision to life.

Originally posted on raftlabs.com

[raftlabs]

How Much Does Your Healthcare App Development Cost? Everything You Need To Know

In today’s digital landscape, healthcare mobile apps have emerged as essential tools in managing and improving personal health and well-being. These apps offer a convenient and accessible platform for a wide array of health-related functionalities. However, navigating the costs associated with developing a healthcare app can seem daunting due to the vast range of features and capabilities these apps can possess.

Initially, it’s crucial to broaden our understanding of what encompasses a healthcare application. Moving beyond the narrow view that associates healthcare apps solely with online consultation services, it becomes apparent that they can also incorporate features for tracking vital health metrics (such as heart rate and blood pressure), medication adherence reminders, connectivity with healthcare professionals, and access to virtual mental health services, amongst other functionalities.

This blog post aims to shed light on the various factors that contribute to the cost of healthcare mobile app development, offering insights that will help clarify potential financial investments for those interested.

Who is this article for ?

- Healthcare Professionals (HCPs) seeking innovative healthcare software solutions to enhance patient care and operational efficiency. - HealthTech Startup Founders motivated to tackle existing healthcare industry challenges with cutting-edge software products. - Healthcare Provider Institutions (Hospitals, Clinics, etc.) aiming at improving patient care delivery, streamlining healthcare processes, or reinforcing healthcare data security through technology. - Investors interested in diving into the healthcare application market to explore its profitability and potential investment returns.

By integrating these key insights, our goal is to equip a diverse readership, ranging from healthcare industry professionals to tech-savvy investors, with a comprehensive understanding of the intricacies involved in healthcare app development costs.

Whether you’re contemplating developing a patient tracking system, a digital health platform, or a mobile health app, this discussion will guide you through the essential considerations to plan your investment effectively.

As the digital landscape in healthcare continues to evolve, industry leaders are increasingly recognizing the pivotal role of digital investments. According to a survey conducted by McKinsey, an overwhelming 72% of global health system executives are satisfied with their digital investments across all areas. This emphasizes the growing imperative for healthcare app development as a key component in enhancing patient care and operational efficiencies.

With healthcare app development positioned at the forefront of digital strategies, organizations are not only able to meet patient demands but also align with prevailing industry standards and expectations. Given the accelerated pace at which technology is being adopted, comprehending the cost implications of healthcare app development is essential for stakeholders aiming to allocate their resources astutely.

Factors Influencing Healthcare Software Development Cost

1. Web/Mobile Apps for Healthcare Professionals (HCPs)

Pro Networking Apps

EHR Apps

Remote Monitoring Apps

Diagnosis Apps

Appointment Scheduling Apps

Billing Apps

Inventory Management Apps

2. Apps for Patients/Users

Telehealth Apps

Mental Health Apps

Habit-Tracking Apps

Fitness & Wellness Apps

Health Apps for Women

3. Apps for Hospitals

IoT Medical Apps

Marketplace Apps

Appointment Scheduling Apps

For instance, the telemedicine app development cost may differ significantly from that of fitness tracking apps due to their unique features.

Feature Set and Functionality: The complexity of features required — ranging from basic appointment scheduling functionalities to advanced AI-driven diagnostics tools — can greatly impact development expenses. Notably, sophisticated functionalities like EHR integration and secure video consultations will necessitate higher investments due to their complexity and the stringent security measures required.

Platform Selection: The choice between web-based applications and cross-platform mobile applications is a crucial decision point that affects overall cost. Opting to develop for multiple platforms might increase initial expenditures but could extend the app’s reach to a wider audience.

Development Approach: Stakeholders are typically faced with the decision between adopting off-the-shelf solutions or opting for custom software development. Each route offers distinct advantages and cost implications. Off-the-shelf products may appear cost-effective initially, but custom solutions, tailored to an organization’s specific requirements, often offer greater long-term value by enhancing operational efficiencies and reducing overhead.

As digital technology becomes increasingly central to healthcare provision, understanding these cost drivers is paramount for decision-makers. This knowledge enables informed strategic planning and investment in healthcare app development, ensuring that resources are judiciously allocated to enhance patient outcomes and streamline operations effectively.

Breakdown of Costs for Different Healthcare Apps

Understanding the financial investment needed for diverse healthcare app categories is pivotal for meticulous budget planning and project strategy.

Here’s a cost breakdown for a variety of healthcare apps, delving into their distinct functionalities and necessary considerations.

Telemedicine App Development Cost:

Telemedicine applications have soared in popularity as virtual doctor visits become the norm. These platforms often feature video consultations, instant messaging, and access to patient health records, demanding robust and secure technology.

Cost-wise, they’re on the higher end due to intricate features. To manage expenses, consider launching with a Minimum Viable Product (MVP) that includes core functionalities such as straightforward video calls and messaging. This approach allows for incremental improvements and feature additions over time.

Estimated Cost Range: $40,000 — $250,000+

Fitness and Wellness Apps:

Centered around holistic health and lifestyle, fitness and wellness apps are generally less complex and require fewer regulatory hurdles — a factor that can make them more cost-efficient to develop.

These apps typically come with a lower price tag because they integrate simpler features compared to their clinical counterparts.

Estimated Cost Range: $15,000 — $100,000

Chronic Disease Management Apps:

Apps designed for chronic disease management are valuable tools for tracking health conditions such as diabetes or heart disease. Including functionalities like integration with medical devices requires a thoughtful approach to design and user experience.

Estimated Cost Range: $25,000 — $800,000+

Appointment Scheduling Apps:

Designed to streamline the appointment booking process, these apps are user-oriented and incorporate:

Calendar syncing with real-time availability

Automatic reminders

Direct patient notifications

The development cost can hinge on the sophistication of the app’s feature set.

Estimated Cost Range: $10,000 — $75,000

Health Records and EMR Apps:

Navigating health records and EMR apps demands meticulous attention to security and compliance, as they give both patients and practitioners secure access to vital medical information.

Estimated Cost Range: $25,000 — $150,000+

Other Cost Influencers:

Beyond the app’s purpose, several other elements sway development costs:

Development Team: Expect variations in rates depending on location and expertise. Teams in high-cost-of-living areas often come with higher fees. Device Integration: Syncing apps with wearables or health monitors increases development duration and testing. Data Security and Compliance: Upholding standards like HIPAA necessitates comprehensive security measures. Custom Algorithms: Creating bespoke algorithms for data crunching and health tracking can demand significant resources. User Interface (UI) Design: A user-focused UI geared toward chronic disease management necessitates additional design investments. Regular Updates: Consistent updates to satisfy new regulations and support emerging devices are the key to maintaining an app’s longevity. Hidden Costs: Be prepared for unexpected costs like licensing charges, third-party integrations, or marketing expenses post-launch which can influence your final budget.

Building a healthcare app is a substantial venture, and these cost considerations will equip you with the insight you need for thoughtful planning and strategy execution. Keep these factors in mind to ensure that you invest smartly and create a product that resonates with your target audience.

How Custom Healthcare Software Development Affects the Cost

When you’re weighing the options for healthcare software, you face a choice between custom development and off-the-shelf solutions. Custom software is tailored to fit the unique processes of your organization, offering capabilities and a user experience that generic software often can’t match, particularly when specialized needs are in play.

Custom vs. Off-the-Shelf Costs:

An off-the-shelf product might be tempting due to its immediate availability and seemingly lower price point. However, custom healthcare software has the upper hand in truly meeting your specific requirements without the need to adjust your workflow to fit the limitations of a pre-made solution.

Long-Term Benefits and Cost Savings:

Yes, custom apps usually command a higher initial investment. But take a moment to consider the bigger picture: they can streamline your operations, improve efficiency, and cut down the need for patching together disparate software tools. Over time, this can lead to significant cost savings.

The Impact of Enhanced Security:

With custom apps, enhanced security goes hand-in-hand with design. Since they’re crafted to meet particular standards like HIPAA from the start, they reduce the risk of data breaches and ensure robust protection of sensitive patient information.

Navigating the creation of custom healthcare software places you in the driver’s seat for every decision about features, functionality, and how the software integrates within your existing digital ecosystem.

Despite the higher initial outlay, investing in custom software development can be pivotal, especially in the sensitive realm of healthcare. You’re creating a tool that drives better efficiency, strengthens security, and ultimately, contributes to superior patient care — all of which can boost your organization’s performance and profitability in the long run.

How Regulatory Compliance Affects Costs

Compliance with regulations like HIPAA isn’t just a good practice — it’s an absolute must for any healthcare app. Integrating these security standards naturally influences the development budget, but such investments are crucial in safeguarding patient data and shielding your organization from steep fines and damage to your reputation.

Regional Regulatory Requirements

Don’t forget that different territories come with their own rulebooks:

HIPAA: A cornerstone for any app handling patient data within the U.S. GDPR: Essential for services targeting users in Europe, bringing its own set of compliance price tags. Other International Standards: Regions like Canada with PIPEDA and Singapore with PDPA have their regulations, all impacting development costs and complexities.

In the end, understanding these cost dynamics is vital. Custom healthcare software development may involve more spending upfront, but it promises a level of specificity, security, and efficiency that off-the-shelf software typically can’t deliver. It’s a strategic choice with long-term advantages that often outweigh the initial costs.

In-House Development vs. Outsourcing: Which is More Cost-Effective?

Comparing Different Outsourcing Models

Software development companies are generally the most reliable for healthcare app projects. They offer specialized expertise and full custom healthcare software development services.

While freelancers may be cheaper, they pose risks with limited support. In-house teams provide control but often result in higher costs due to training needs.

Partnering with a development company ensures a smoother process and better long-term results.

Cost Estimation Based on App Development Stages

Embarking on the journey of creating a healthcare app is no small feat. It requires meticulous planning, a keen eye for details, and a clear understanding of the end goal. Here’s your guide through the various stages of healthcare app development, complete with insights into the costs and important considerations to help you steer through smoothly.

Kicking Off with Initial Planning

Think of the initial planning stage as setting the foundations for your app. Here, you’ll hash out what your app aims to achieve, its core features, and how it’ll comply with healthcare standards like HIPAA or GDPR, depending on your target audience.

Typically taking 1–3 weeks, this phase can account for about 10–15% of your total budget. It’s a critical step — get it right, and you could save a bundle by avoiding costly mistakes down the line. Don’t forget to pencil in some funds for compliance and regulatory fees during this stage.

Moving on to Wireframing

Once your goals are clear, it’s time to sketch how your app will look and flow. Design, after all, is more than just aesthetics; it’s crucial for a seamless user experience and meeting compliance standards.

Crafting wireframes and interactive prototypes usually chews up about 15–20% of your budget. Investing time and resources here can prevent the need for expensive do-overs during the actual development process. And, let’s not forget about the backend — hosting and server costs are part of the budget puzzle at this stage.

Diving into MVP Development

Building a Minimum Viable Product (MVP) allows you to bring your vision to life, ensuring it ticks all the functional and regulatory boxes. Depending on the complexity and whether you’re aiming for a mobile or web platform, this phase can add another 20–30% to your budget.

Remember, thorough testing now can save you from unexpected expenses post-launch. Also, start thinking about any third-party services you might need and how you’re going to let the world know about your app — marketing is key!

Ongoing Maintenance: The Journey Continues

Crossing the finish line of your app’s release is just the beginning. Regular maintenance, including updates and bug fixes, is essential to ensure your app remains in top shape, compliant, and effective.

You can expect maintenance to add around 10–20% annually to your development costs. This includes adapting to new healthcare regulations, app store fees if you’re on a mobile platform, and setting aside a contingency fund for any surprises that may pop up.

Developing a healthcare app is a dynamic process, filled with challenges and opportunities. By understanding and planning for the costs associated with each stage, you’re better equipped to build a solution that not only meets compliance standards but also genuinely improves user experience and patient outcomes.

How to Optimize Healthcare Software Development Costs

When developing healthcare software, managing costs effectively is crucial. Here are some strategies to keep your project on budget while ensuring it meets essential standards and expectations:

1. Prioritize Must-Have Features

Concentrate on the essential features that form the backbone of your application. Initially, avoid adding too many advanced features, as they can significantly raise the cost of development. You can always introduce additional functionalities in subsequent updates as user needs evolve.

2. Consider a Minimum Viable Product (MVP)

Launching with an MVP is a strategic way to enter the market swiftly while keeping upfront costs manageable. This version should have just enough features to satisfy the early users and provide valuable feedback. This feedback can then guide further refinements, making the app more effective and user-oriented with every update.

3. Choose the Right Development Partner

Selecting an experienced and reliable medical software development company can make all the difference. A good partner will not only help navigate compliance challenges but also suggest ways to streamline costs without compromising quality. Their expertise in healthcare apps can prevent expensive missteps and ensure a smoother development process.

Future Trends Impacting Healthcare App Development Costs

Several emerging trends are shaping the future of healthcare software, each influencing development costs in different ways:

1. Integration of AI and Machine Learning

The market for AI in Healthcare, which reached $19.68 billion in 2023, is projected to grow at a rapid pace. By 2030, it’s expected to surge to about $183.56 billion. Incorporating AI can elevate the capabilities of healthcare apps, particularly in areas like diagnostics and predictive analytics. Though initially costly, the long-term benefits of improved patient care make it a worthwhile investment.

2. Rise of Telehealth & Telemedicine

Spurred by the COVID-19 pandemic, telehealth has become a staple in healthcare. Future apps will likely need robust telehealth functionalities to meet the demand for remote medical services, increasing accessibility and convenience for patients everywhere.

3. Augmented Reality (AR)

AR is revolutionizing training for healthcare professionals and enriching patient interactions. While the initial development and maintenance of AR features are expensive, they pay off by enhancing learning outcomes and improving patient compliance, which can reduce overall training times and improve health outcomes.

4. The Cloud-Based Technology

Cloud computing offers scalable solutions for data storage and efficient remote access to patient information. Transitioning to the cloud involves upfront investment and ongoing costs but usually results in long-term savings with fewer infrastructure requirements and enhanced team collaboration.

5. Focus on Patient-Centered Care

Personalizing patient experiences is becoming increasingly important. Apps that offer customized health plans and interactive educational tools may require more investment initially but can significantly boost patient engagement and adherence, offering long-term financial benefits to healthcare providers.

6. Interoperability Solutions

Enhancing system interconnectedness can initially be costly but is crucial for seamless communication across various healthcare platforms. Investing in interoperability not only improves user experiences but also enhances continuity of care, eventually leading to cost savings by reducing inefficiencies associated with isolated data systems.

These strategies and awareness of upcoming trends can help in effectively managing the costs of healthcare software development, ensuring the delivery of high-quality, impactful medical applications.

How to Choose a Development Partner for Your Healthcare App Idea

Choosing the right development partner is crucial to successfully bring your healthcare app idea to life. Here’s a streamlined guide to assist you in making an informed decision.

1. Define Your Needs

Set Clear Goals: Start by clarifying what you want your app to achieve. This might be for purposes like telemedicine, fitness tracking, or patient management.

Identify Key Features: Make a list of essential features your app needs, such as user authentication, data security, and appointment scheduling capabilities.

2. Research Partners

Look for Healthcare Expertise: Opt for partners who have a solid track record in healthcare app development, as they’ll be more familiar with the necessary regulatory compliance.

Review Portfolios: Examine their previous projects to assess their capability in terms of design and functionality.

3. Evaluate Development Process

Agile Methodology: Confirm that they employ agile development practices. This approach allows for flexibility and continuous improvement based on ongoing feedback.

Quality Assurance: Inquire about their testing processes to ensure that your app will be reliable and free from bugs at launch.

4. Assess Communication

Open Communication: Ensure your potential partner is responsive and open to discussing ideas, which is key to a collaborative development process.

Cultural Fit: It’s beneficial to work with a team whose values align with yours, particularly in high-pressure situations, ensuring smoother interactions.

5. Budget and Timeline

Request Detailed Quotes: Get comprehensive estimates that clearly outline all costs, expected timelines, and what you will receive.

Clarify Payment Terms: Understand how they structure their pricing and be aware of any possible additional expenses.

6. Consider Post-Launch Support

Ongoing Maintenance: Check if they offer support after your app goes live, which is vital for dealing with any unforeseen issues and making necessary updates.

Feedback Incorporation: Make sure they’re capable of refining the app based on user feedback to enhance functionality and user experience continuously.

The cost of developing healthcare software depends on several factors, including the type of app, the complexity of its features, and the specific compliance requirements it needs to meet.

Deciding between in-house development and outsourcing can significantly impact your overall budget. Each option has its pros and cons, and the right choice will depend on your specific circumstances and capabilities.

By comprehensively understanding these cost drivers, you can better plan your healthcare app project, ensuring a smoother development process and a successful market entry.

Also, choosing the right partner for your healthcare app development can significantly impact your project’s success, ensuring it not only meets compliance requirements but also delivers a seamless user experience. With so many options available, finding a partner that understands the complexities of the healthcare industry is crucial.

[raftlabs]

HIPAA Compliant Software Development: The Ultimate Guide For 2024

Have you ever wondered how healthcare apps keep sensitive patient data safe?

Or what regulations govern the protection of medical information in the digital world?

With the mHealth app market growing from USD 32.5 billion in 2023 to an estimated USD 154.1 billion by 2034, the need for secure apps is more important than ever.

What ensures that unauthorized parties don't access patients' personal health data?

The answer lies in HIPAA compliance for software development.

But what exactly does it mean for an app to be HIPAA-compliant, and why is it crucial for healthcare software development?

This article will explore HIPAA compliance, why it's important for healthcare apps, and how you can ensure your app development process meets these vital standards.

If you want to develop a healthcare app for your company, this blog will help you build a secure one through HIPAA-compliant software development.

Understanding HIPAA compliance

HIPAA, or the Health Insurance Portability and Accountability Act, protects sensitive health information by setting rules for healthcare providers, health plans, and clearinghouses.

The three main rules of HIPAA compliance are:

HIPAA Privacy Rule: Protects identifiable health information during electronic transmission.

HIPAA Security Rule: Ensures the confidentiality and integrity of electronic PHI (e-PHI).

HIPAA Breach Notification Rule: Details procedures for reporting data breaches to affected individuals and authorities.

Before the 2013 Omnibus Rule, HIPAA applied mainly to healthcare providers and insurers.

The update expanded it to include any organization handling PHI, such as medical app developers and third-party vendors.

Hence, understanding HIPAA compliant software requirements is essential for HIPAA compliant software development to ensure sensitive data is adequately safeguarded.

Why must a healthcare app be HIPAA compliant?

Here are key reasons why ensuring HIPAA compliant app development is essential:

Avoid Costly Penalties and Legal Risks: Non-compliance with HIPAA can result in fines ranging from thousands to millions of dollars.

Protect Your Brand and Reputation: A data breach can harm your brand, whereas HIPAA compliant software development helps you prioritize patient privacy.

Secure Patient Data: HIPAA ensures protection for PHI, and following these guidelines in HIPAA compliant software requirements keeps patient data safe.

Build Trust with Patients and Partners: Compliance enhances trust, showing patients and partners that privacy is taken seriously.

Expand Business Opportunities: Many healthcare providers only collaborate with HIPAA compliant app development companies, opening new revenue streams.

Prevent Financial Loss from Data Breaches: A data breach is costly, but adhering to HIPAA minimizes this risk and saves on future damage control.

Stay Ahead of Regulatory Requirements: Meeting HIPAA standards now ensures you're prepared for future regulations, easing compliance efforts.

Hence, it is better to have a HIPAA compliance checklist while developing a healthcare app, to ensure it meets legal and security standards.

HIPAA-Compliant Software Development Steps

HIPAA-compliant software development can feel complex, but breaking it into steps makes it more manageable. Here's how to start:

Conduct a Risk Assessment: Identify vulnerabilities related to Protected Health Information (PHI) and potential exposure risks.

Design Secure Architecture: Use data encryption and access control to build security into your software's core from the start.

Implement Safeguards: To protect servers and hardware, apply technical and physical safeguards, including encryption and authentication.

Transport Encryption: Use SSL/TLS protocols to secure data transfer between systems.

Backup: Regularly backup data to prevent loss during a breach or system failure.

Authorization: Implement strict access controls, ensuring only authorized personnel can access sensitive information.

Integrity: Use checksums and hash functions to prevent unauthorized data alteration.

Continuous Monitoring and Testing: Continuously monitor systems, conduct penetration testing, and maintain audit logs to ensure ongoing security.

Ensure Proper Documentation: Keep detailed records of compliance efforts, regularly updating them.

Disposal: Use secure data deletion methods and physically destroy storage media when disposing of outdated data.

Following these steps ensures your HIPAA compliance application development aligns with regulatory standards while keeping patient data safe.

Why HIPAA compliance is crucial for web and mobile apps

The mHealth market is booming! Let's look at the numbers.

It’s expected to jump from USD 63.2 billion in 2023 to a massive USD 187.7 billion by 2032, growing at an impressive 11.5% each year.

Risk of Data Breaches: Due to the sensitive nature of the data, web and mobile apps containing ePHI are at risk for identity theft and fraud.

Device Security: Protecting information on web and mobile devices is vital, particularly in cases of loss or theft.

Strong Security Protocols: Implementing robust security measures is crucial for preventing unauthorized access to sensitive information.

Building Trust and Loyalty: Web and mobile apps that comply with HIPAA foster greater trust and loyalty among users.

Minimized Legal Risks: Adhering to HIPAA standards reduces the likelihood of legal issues arising from data breaches.

Market Advantage: Developing secure and compliant mobile and web applications can provide a significant competitive advantage in the healthcare sector.

Which healthcare apps should comply with HIPAA rules?

If you're building a healthcare app, one of the first things you need to figure out is whether HIPAA compliance applies to your app.

Why is that so important?

Well, healthcare data breaches are a huge deal, and penalties can be steep if you don't protect sensitive patient information.

From civil fines starting at $137 per violation to a whopping $2 million for more severe cases, the risks are high.

And it’s not just about the money—your medical app’s reputation is on the line.

So, how do you know if your app needs to comply with HIPAA?

Who Will Use the App?

HIPAA applies to "covered entities" like healthcare providers, health plans, and business associates that handle PHI.

What Type of Data Will the App Handle?

If the app stores or transmits Protected Health Information (PHI), it must meet HIPAA compliant software requirements.

Does the App Share Data With Healthcare Providers?

Apps that sync with healthcare systems or share data with providers must follow HIPAA compliant software development practices.

Is the App Designed to Manage or Monitor Patient Health?

Apps for health monitoring, remote care, or medication tracking likely involve PHI and require compliance.

Will the App Collect or Process Sensitive Information?

Even if it doesn't directly work with healthcare providers, HIPAA rules may apply if it collects sensitive data like biometrics.

Understanding these factors clearly will guide you in meeting HIPAA compliant software development standards and ensuring legal and data protection.

Healthcare apps that may be exempt from HIPAA regulations:

Some apps, especially those used only by patients without involving healthcare providers, might not fall under HIPAA regulations. For example:

Fitness and exercise apps that don’t connect with healthcare providers.

Nutrition tracking apps that are used for personal monitoring.

Personal health tracking apps that are not shared with physicians.

These types of apps often do not meet HIPAA compliant software requirements unless they interact with or transmit Protected Health Information (PHI).

Costs of HIPAA compliant software development

When it comes to developing a HIPAA-compliant application, costs can vary significantly due to several factors:

Complexity of the Application: More complex applications with extensive features require more time and resources, leading to higher development costs.

Security Measures: Implementing robust security measures—such as encryption, access controls, and regular audits—adds to the overall expense.

Compliance and Legal Advice: Navigating HIPAA regulations often necessitates consultation with legal and compliance experts, which can further increase costs.

Development Team Expertise: Hiring developers with experience in HIPAA compliance may lead to higher costs, but it ensures better adherence to regulations.

Testing and Validation: Comprehensive testing and validation processes are necessary to ensure compliance and functionality, which can also impact costs.

Ongoing Maintenance: Post-launch, maintaining compliance through regular updates and audits is essential and should be factored into long-term budgeting.

Integration with Existing Systems: If the application needs to integrate with existing healthcare systems or EHRs, this complexity can increase both time and costs.

User Training and Support: Providing training for users on compliance features and support can incur additional expenses but is critical for effective application use.

On average, the cost to develop a HIPAA-compliant mobile application ranges from US $40,000 to over $60,000. This range reflects the specific requirements and features of the application. Understanding these factors can help you better prepare for the financial commitment involved in creating a secure and compliant application.

Key practices and common pitfalls for HIPAA compliance in app development

Best practices for HIPAA compliant software development

Secure App Architecture and Design: From the start, prioritize security in your application by incorporating features like encryption and access controls.

Conduct Regular Risk Assessments and Updates: Regularly evaluate vulnerabilities and update security protocols to stay compliant with HIPAA compliance for software development.

Partner with Legal Experts to Review Compliance: Work with legal professionals to ensure your HIPAA compliant software development meets all regulatory standards.

Train Developers and Teams on HIPAA Guidelines: Continuously educate your team on HIPAA regulations to ensure they understand their role in protecting PHI.

Common mistakes to avoid while developing HIPAA compliant apps

Storing PHI in Insecure Environments: Never store Protected Health Information in unsecured locations.

Failing to Update Security Measures Regularly: Regularly review and enhance your security measures to address new risks.

Neglecting Employee Training on HIPAA Standards: Ensure all employees are properly trained in HIPAA requirements to avoid compliance issues.

Successful HIPAA compliant applications developed by RaftLabs

Here are some HIPAA-compliant software solutions developed by our team for clients in the healthcare industry:

1. HIPAA Compliant AI-Driven Remote Patient Monitoring for Chronic Conditions

See the case study >>

2. HIPAA Compliant Telehealth App for Virtual Care

Learn more in the case study >>

3. HIPAA Compliant Remote Patient Monitoring for Seniors

Check out the case study >>

As a leading healthcare software development company, we possess a deep knowledge of global privacy regulations and user experience design. We focus on creating effective HIPAA compliant healthcare software apps.

If you have a groundbreaking healthcare app idea, contact us today. Our expert team at RaftLabs is ready to assist you with consulting, designing, and building a secure, HIPAA-compliant product that meets both industry standards and user needs. Let’s turn your vision into a reliable, innovative healthcare solution!

[raftlabs]

7 Step HIPAA Compliance Checklist For Software Development: A Quick Guide for 2024

Are you considering building a healthcare app that will handle sensitive patient data?

If so, ensuring HIPAA compliance from the start is crucial.

But what exactly does it mean, and why is it so vital when developing healthcare apps?

HIPAA, or the Health Insurance Portability and Accountability Act, sets the standards for protecting sensitive patient information. If you’re developing healthcare apps, making sure your software follows a HIPAA compliance checklist for software development isn’t just a technicality — it’s crucial for safeguarding patient data.

For example, think about a telehealth app that allows doctors to consult patients online. If that app doesn’t follow HIPAA rules, patient records, diagnoses, or even video sessions could be exposed to unauthorized access, putting both the patients’ privacy and the organization’s reputation at risk.

In this guide, we’ll walk you through a HIPAA compliance checklist for software development to help you build healthcare apps that are secure and reliable. By following these steps, you can confidently protect both patient data and your business.

A. What is HIPAA Compliance?

HIPAA compliance for software development involves implementing safeguards to protect patient data. When building HIPAA compliant software, developers must follow specific rules:

Privacy Rule: This ensures Protected Health Information (PHI) is used only for allowed purposes, like treatment or payment. Developers need to implement access controls and ensure data is only shared with authorized individuals.

Security Rule: It requires the protection of electronic PHI (ePHI) through encryption, secure authentication, and access controls. These measures help prevent unauthorized access to sensitive data.

Breach Notification Rule: Developers must include mechanisms to detect and report breaches promptly, as affected individuals and authorities must be notified in case of a data breach.

Enforcement Rule: Understanding this rule is essential as it outlines penalties for non-compliance. Developers should ensure their software meets all necessary standards to avoid penalties.

Following these guidelines when building HIPAA compliant software ensures both regulatory compliance and data security.

B. What is the Importance of HIPAA Compliance in Healthcare?

HIPAA compliance protects patients' sensitive data from breaches and unauthorized access.

It builds trust by demonstrating a commitment to security while helping healthcare organizations avoid costly fines, legal issues, and reputational damage.

With the growing use of telehealth and remote monitoring, HIPAA compliance is more critical than ever.

When building HIPAA compliant software, developers must prioritize data protection features to meet regulatory standards and safeguard patient information.

C. Why Is HIPAA Compliance for Software Development Important?

While HIPAA may seem primarily relevant to healthcare providers, it has serious implications for developers working on software that handles Protected Health Information (PHI).

Here’s why HIPAA compliance for software development is crucial:

i. Data Breaches and Penalties

A breach exposing PHI can result in significant financial penalties, lawsuits, and severe damage to a company's reputation. Developers responsible for software that mishandles PHI can also be held accountable.

ii. Building Customer Trust

Trust is vital in healthcare. Patients expect their personal information to remain confidential. By ensuring that the software you develop follows HIPAA compliance software requirements, you help build trust with healthcare providers and their patients, ensuring that sensitive data is appropriately handled.

iii. Regulatory Requirements

Many healthcare organizations are legally obligated to comply with HIPAA regulations. If your software is intended for these organizations, it must meet HIPAA standards or risk being rejected or banned from use.

iv. The Financial Impact of Data Breaches

According to the Department of Health and Human Services (HHS), the average cost of a data breach in the Healthcare and Public Health (HPH) sector is $10.93 million. This includes investigation costs, legal fees, lost business, and damage to a company's reputation.

v. Cybersecurity Threats in Healthcare

Due to the sensitive data it stores, the healthcare sector is a prime target for cyberattacks. From March 2022 to February 2024, the healthcare industry faced the highest average cost of data breaches, nearly $9.77 million according to Statista. This highlights the critical importance of HIPAA compliance for developers managing healthcare data.

vi. Developers’ Role in Securing PHI

Developers play a key role in protecting PHI. If the software is not HIPAA-compliant, it may have vulnerabilities that cybercriminals can exploit, leading to data breaches, legal consequences, and significant fines.

vii. Business Benefits of HIPAA Compliance

Following HIPAA rules does more than keep you out of legal trouble. Organizations with strong cybersecurity practices are more likely to attract and retain customers, improve their reputation, and boost profitability.

Thus, having a HIPAA compliance checklist for application development and ensuring your software meets all HIPAA requirements for software is essential to safeguard patient information and maintain compliance.

D. HIPAA Compliance Checklist for Software Development

Ensuring HIPAA compliance isn't just about ticking boxes; it's about creating a secure environment where patient data is always protected.

Whether you're managing a healthcare app, running a clinic, or overseeing hospital operations, maintaining HIPAA standards is crucial for safeguarding sensitive health information.

We've compiled this comprehensive checklist to help you stay on track.

1. Transport Encryption:

Ensure that your website uses HTTPS to encrypt data during transmission. This is crucial for protecting information as it travels between your site and users.

Check if you have SSL certificates in place. These certificates verify your website’s identity and secure the data being exchanged.

2. Backup and Storage Encryption:

Make sure your data backups are encrypted. This step prevents unauthorized access to sensitive information, even if backups are compromised.

Are you using encrypted cloud storage? Consider options like Amazon RDS and Google Cloud SQL to keep your data secure.

3. Identity and Access Management:

Strong passwords are essential. Require complex passwords for all users to reduce the risk of unauthorized access.

Implement multi-factor authentication (MFA) for added security. MFA, also known as 2FA, requires a second form of verification, making it harder for intruders to gain access.

4. Integrity:

Digital signatures and data verification are key. Ensure that all data is signed and verified to prevent tampering or unauthorized changes.

Track any modifications to ePHI (electronic protected health information). Keeping logs of changes helps you detect unauthorized access and maintain data integrity.

5. Disposal:

Properly dispose of ePHI and encryption keys when they are no longer needed. This prevents sensitive information from being exposed.

Shred old files and erase decryption keys. This practice ensures that no residual data can be recovered by unauthorized parties.

6. Data Minimization

Ensure that only the minimum necessary amount of ePHI is accessed and shared.

Regularly review and adjust data retention policies to ensure that ePHI is not kept longer than necessary.

7. Audit Controls:

Implement logging to track access to ePHI. This helps in identifying any unauthorized activity and maintaining a secure environment.

Conduct regular audits of your systems. Routine checks help uncover vulnerabilities and ensure ongoing compliance with HIPAA requirements.

E. Do All Healthcare Apps Fall Under HIPAA Regulations?

HIPAA regulations don’t always apply to every healthcare app. If the app doesn’t handle or transmit protected health information (PHI), it may not fall under HIPAA’s scope.

For example, fitness apps that track steps or calories without involving medical data are generally not covered by HIPAA.

However, if an app collects, stores, or shares health-related data with healthcare providers, insurance companies, or other covered entities, HIPAA rules come into play. App developers must understand when HIPAA applies and ensure compliance if their app deals with PHI.

Here are a few examples of apps that likely don't need to comply with HIPAA because they don't handle Personal Health Information (PHI):

Fitness Trackers: Apps that monitor general wellness activities like step counts, calorie intake, or workout routines without involving medical data.

Meditation Apps: Tools that guide users through relaxation or mindfulness exercises without collecting health records or linking to healthcare providers.

Diet and Nutrition Apps: Programs that help users track meals or recommend recipes, as long as they aren’t connected to medical advice or providers.

Sleep Tracking Apps: Apps that monitor sleep patterns or offer tips for better rest unless connected to a healthcare system or provider for treatment.

These apps generally focus on wellness rather than medical care and are unlikely to handle PHI.

At RaftLabs, we specialize in building innovative healthcare apps that not only meet but exceed HIPAA compliance standards. With our deep expertise in healthcare technology, we’ve helped our clients create secure, efficient, and patient-focused solutions that address the unique challenges of remote care and chronic disease management.

Here are some of our recent healthcare projects:

1. AI-Enhanced Remote Patient Monitoring App for Chronic Care

Check our case study>>

2. Telehealth App for Virtual Remote Care

Check our case study>>

3. Remote Patient Monitoring App For Senior Citizens

Check our case study>>

F. Wrap-up

In conclusion, building a healthcare app comes with a unique set of challenges, especially when it comes to ensuring patient data privacy and security.

HIPAA compliance plays a critical role in meeting these challenges, as it sets the standard for protecting sensitive health information.

Without adhering to these regulations, healthcare apps risk exposing personal data, facing legal penalties, and losing user trust.

At RaftLabs, we’re committed to developing healthcare solutions that drive meaningful change. If you’re considering building or improving a healthcare app that is HIPAA- compliant, we’d be happy to bring our expertise to your project.

[raftlabs]

PSi: The Audio-based App For Collective Decision Making

Let’s Begin With An Interesting Story

In 1906, Francis Galton, a cousin of Charles Darwin, visited a village fair with an ox and a challenge: guess the animal's weight correctly and win a prize. The farmers and villagers offered wildly varying guesses, but none were even close to the true weight.

Galton calculated the average, and to his delight, it was spot-on. The mean of all estimates was the exact weight of the animal.

The experiment proved the power of the crowd's collective decision, as it was more accurate than any individual's knowledge. Galton left the fair with a renewed sense of awe for the potential of collaborative intelligence, and his groundbreaking discovery would be celebrated for years to come.

What is PSi?

PSi (People Supported Intelligence) is a web application that uses natural language processing to collect and analyze conversation qualitative data at scale.

Like Galton, who demonstrated the power of collective intelligence in his "Wisdom of the Crowds" experiment, PSi is a primary research tool to leverage the insights of many people, generate actionable insights, and arrive at a stakeholder consensus in minutes.

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The app was built to create a decentralized, robust, and intuitive conversation platform for primary research that supports decision making. 

The app aims to make primary research data collection and analysis stress-free.

What inspired the creation of the PSi app?

Have you ever struggled to make a decision within a group? 

Co-Founders Georgie Denis and Niccolo Pescetelli certainly have. As a Project Manager, Georgie has facilitated group decision making for diverse stakeholders in the health sector, ranging from patients and carers to legal teams and engineers. 

Meanwhile, Niccolo, with a Ph.D. from Oxford and experience at MIT, has researched group decision making and collective intelligence. 

Combining their expertise, they planned to build an app for decision making that empowers people to make better decisions based on the wisdom of their stakeholders.

But they couldn't have done it alone - a team from RaftLabs joined forces with them to bring their vision to life. 

When they approached RaftLabs, the co-founders of the PSi app shared their vision of creating a platform that businesses could use to conduct primary research and support participatory group decision making among their stakeholders and the general public. 

As co-founder of PSi, Georgie Denis stated, "One day I hope PSi can support businesses to engage their stakeholders and the general public in the same kind of participatory decision making." 

The RaftLabs team worked closely with the co-founders to make an app for decision making harnessing collective intelligence. Our aim was to create an app that empowers individuals and groups to make a collective decision.

Why is the PSi App Important for Remote decision making in Current Times?

The PSi app secured funding from the MediaFutures EU,  IDEO CoLab, and others to develop decision making features along with an audio application. This achievement is a testament to the importance and relevance of the PSi app in today's world, where collective decision making has become a crucial aspect of many industries and organizations.

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Let's explore how this app is addressing the needs of our current times:

The PSi app allows decision-makers to gather and analyze qualitative and quantitative data from large groups of people in real-time without the need for in-person meetings or focus groups.

The app enables organizations to engage with their communities and stakeholders more effectively, allowing for greater inclusivity and diversity of perspectives.

The app provides a faster and more efficient way to gather insights and arrive at a stakeholder consensus, saving time and resources.

By leveraging machine learning and natural language processing, the PSi app can collect and analyze large amounts of qualitative data at scale, making it easier for organizations to make informed decisions.

The PSi app is intuitive and user-friendly, allowing anyone to leave their views on critical decision making, engage in live anonymous conversations, and vote for impactful ideas with a few clicks.

Overall, the PSi is a powerful app for decision making in a world where remote work and virtual interactions have become the norm. It allows organizations to make better decisions faster and with greater stakeholder engagement.

Unlock the Power of AI for Collective Decision Making Without Any Technical Expertise

In the following section, we will explain the working steps of the PSi app.

Step 1: Plan the Perfect Discussion

You can collaborate with the PSi platform’s team to design a discussion that meets your needs and goals.

It helps you to define the right question and identify the relevant stakeholders with our qualitative research best practices.

Step 2: Hold the Discussion

The app empowers your community to participate in the discussion with ease.

It provides guidance to ensure everyone is comfortable using the PSi platform.

It allows you to unlock the power of collective intelligence and maximize stakeholder input.

Step 3: Powerful Analytics, Faster Decisions: 

It enables you to analyze the conversation data and helps you to fetch key insights.

You can gain a deeper understanding of your community and make informed, efficient decisions.

Last but not least, you can benefit from the speed and accuracy of AI-driven analytics.

Key Advantages of PSi App

Get in-depth insights: PSi provides deeper insights into stakeholders' thoughts, feelings, and needs, unlike shallow results from time-consuming surveys & polls.

Make informed decisions: With PSi, you can remove guesswork, stressful logistics, and overwhelming data interpretation, making informed decisions based on the collective intelligence of your stakeholders.

Increase stakeholder buy-in: PSi increases stakeholder buy-in and reduces decision risk by involving stakeholders in the decision making process and increasing their commitment to the outcome.

Promotes participatory decision making: PSi makes it easy for local governments and communities to incorporate public consultations, participatory decision making, and decentralized governance into their daily practice.

Speed up decision making: Map out stakeholders' views in less than an hour using PSi, saving time and making decisions more quickly and accurately.

Foster collaboration: PSi allows for group decision making and deliberation, fostering collaboration among stakeholders and promoting a sense of ownership over the decision making process.

Increase transparency: PSi increases transparency by allowing all stakeholders to contribute their ideas and opinions on a particular decision or issue. It allows for a more inclusive decision making process where all voices are heard and considered.

Efficient group facilitation: With automatic group facilitation, PSi helps to streamline the process of idea generation and solution finding. It can help save time and resources by promoting equal participation and thorough consideration in decision making processes.

Ensures consistency: PSi's scalability ensures that the app will produce the same results regardless of the size of the community or group. This consistency can provide greater confidence in decision making and strengthen trust between stakeholders.

Thus, by harnessing the power of collective intelligence, we were able to build an app that enables decision-makers to tap into the knowledge and creativity of their communities to make informed decisions quickly and efficiently. Explore the power of collective intelligence in business decision making with the ebook "Leveraging Collective Intelligence For Strategic Decision Making". This valuable resource provides insights into what is meant by collective intelligence, the principle of collective intelligence, its significance, and the benefits it can offer in today's digital age. Discover the most effective ways to conduct collective intelligence research and make informed decisions that can give your business a competitive edge. 

Discover our exceptional work in building an app for decision making that utilizes and processes the collective decision from all participants, resulting in unbiased outcomes>> Click here.

Learn How PSi Empowers Diverse Fields

Corporate:

Brainstorming: Engage employees to brainstorm ideas and gather insights across global teams.

Team building: Facilitate team building activities and discussions.

Training: Provide interactive training sessions and gather feedback.

Public Sector:

Public consultations: Have conversations with a larger group of people over any issues and gain solutions.

Decision making: Gather feedback from citizens to aid in collective decision making processes.

Decentralized governance: Encourage decentralized governance by allowing citizens to have a voice in local decision making.

Academic:

Debate clubs: Provide a platform for debate clubs to hold discussions and gather feedback from participants.

Student engagement: Engage students in discussions on a variety of topics.

Research: Collect data and insights from research participants.

Brands and Clubs:

Consumer insights: Get insights from consumers by setting up discussions for collective decision making and inviting fans to join the discussions.

Fan engagement: Encourage fan engagement by providing a platform for discussions and feedback.

Market research: Collect data and insights from discussions to aid in business decision making using collective intelligence.

Non-profits and NGOs:

Engage stakeholders: Non-profit organizations and NGOs can use PSi to engage with their stakeholders, including volunteers, donors, and beneficiaries.

Collect feedback: They can gather feedback, brainstorm ideas, and make informed decisions that align with their mission and values using PSi.

Enhance commitment & transparency: Involving stakeholders in the group decision making process can increase their commitment to the organization's goals and improve transparency.

Recognition For The App For Decision Making

The PSi app was recognized for its potential to assist civic organizations, such as local councils, in tapping into the knowledge of individuals who best understand the needs of their community. 

If you're looking to create innovative and impactful apps, such as an app for decision making leveraging collective intelligence, consider partnering with RaftLabs, a versatile software development company. 

With our technical expertise and commitment to building intuitive and responsive platforms, we can bring your app vision to life. Whether it's decision making tools, productivity apps, or any other custom application, RaftLabs is here to help you succeed. Don't hesitate to reach out and begin your journey toward developing the next big thing in the world of technology.

[raftlabs]

How to make a music streaming app like Spotify

Do you use any music streaming apps?

Most of us will be using Spotify to listen to our favorite songs.

Image Source: MIDiA Research

Have you ever wondered how music streaming apps like Spotify work?

If so, this article will help you to understand some exciting details of popular music streaming applications like Spotify.

Music streaming has revolutionized the way we listen to music. Now millions of songs are available at your fingertips. You are the ability to create personalized playlists.

The music streaming industry expects to witness significant growth in the coming years. 

By 2027, experts predict a rise of 1.12 billion users.

Top Leading Apps Of Audio Streaming Market

Spotify App

Spotify is the leader in the music-streaming industry, with 205 million premium subscribers and 489 million monthly active users.

The app offers a personalized music experience.

Spotify's integration with Facebook makes it easy for users to share music with people.

Spotify generates revenue through ads and premium subscriptions.

The app is available in 79 countries and continues to dominate the music streaming market.

Apple Music App

Apple Music is the second most popular music streaming app.

The app generated $8.3 billion in revenue in 2022.

The app has 88 million subscribers as of June 2022.

But, in comparison with Spotify,  the application needs robust sharing options.

Amazon Music App

Amazon Music is a more advanced version of Amazon Prime Music.

The app recommends playlists based on the user's listening habits and displays song lyrics on the "now playing" screen.

Users can access many songs and albums and create their own playlists to share.

Amazon Music has plan tiers for hi-resolution lossless audio called HD and Ultra HD, which is unavailable on Spotify.

Tidal App

TIDAL is a global music streaming app that is famous for its high sound quality.

The app features an extensive music library, offline music capabilities, and personalized recommendations.

TIDAL's estimated revenue ranges between $100 to $200 million per year.

How Do Music Streaming Apps Like Spotify Work?

Music streaming apps use servers to store and distribute music content to users.

Users can access the music content by downloading it through the app.

When a user searches for a song or artist, the app sends a request to the server.

The server then searches its database for the requested music and sends it back to the user's device.

The app may use caching to store frequently accessed music on the user's device to improve performance.

The music is typically encoded in a compressed format like MP3 or AAC to reduce file size and improve streaming speed.

Music streaming apps also use algorithms to suggest new music to users based on their listening habits.

Apps may also use social features to allow users to share playlists or see what their friends are listening to.

Music streaming apps often offer both free and paid subscription options with different features and limitations.

Finally, these apps rely heavily on data analytics to track user behavior and preferences, which helps them to improve their services and recommendations continuously.

Features of An Ideal Music Streaming App

Account Registration  

Registration allows users to create a personalized profile. Thus, users can enjoy customized recommendations based on their listening history and preferences.

Social Login

The social login feature provides users with a quick and hassle-free way to log in to the app using their existing social media accounts.

Easy Navigation

The app should have a simple and intuitive user interface to allow users to navigate different sections of the app easily.

High-Quality Audio

The app should provide high-quality audio streaming with options to adjust the sound quality based on the user's internet connection.

Extensive Collection

More users will download the application if the library includes a vast selection of songs from various genres and languages.

Personalized Playlists

Users must be able to create and save personalized playlists based on their moods, genres, and artists.

Push Notification

Push notifications are an excellent way to engage users and keep them updated on the latest happenings in the app.

Displaying Lyrics

The use of AI can help in the continuous display of lyrics during playback to keep customers engaged with the app.

Download Option

Offline availability of music allows users to listen to their chosen tracks at any time without an active internet connection.

How To Create A Music Streaming App Like Spotify?

Find the right team

Finding experts is crucial to create a music streaming service. Two options are available for developing your app

Hire an in-house team 

Hiring an in-house team requires a large budget and time for recruitment and management.

Outsource to a software development company.

Outsourcing involves studying the vendor's portfolio, collecting client feedback, and signing a contract. This method will have a promising price-quality ratio. The provider will offer qualified specialists and monitor their work. 

Companies like RaftLabs can deliver your dream projects in alignment with budget, timeline, and expectations.

Type of music streaming services

To create an audio streaming app, you must determine the type of app you want.

There are three common types of music streaming apps: 

A music library app offers access to music under certain conditions, such as paid subscriptions or free access.

A cloud storage app allows users to store their music in the cloud and stream it from anywhere.

A radio station app has various radio stations arranged by specific themes and can provide streaming services to different devices.

Obtaining the license

Music streaming services allow users to listen to music without purchasing, but owners need a license to use music content.

To create a music streaming website or app, you must obtain Public Performance Rights.

The American Society of Composers, Authors, and Publishers (ASCAP) and Broadcast Music Incorporated (BMI) in the United States handle Public Performance Rights.

In Europe, apply to the Society of European Stage Authors and Composers (SESAC) for Public Performance Rights.

In India, two organizations, PPL (Phonographic Performance Limited) and IPRS (The Indian Performing Right Societies Ltd) issue music licenses.

Spotify obtains two types of licenses for streaming music: 

Sound Recording License Agreements.

Musical Composition License Agreements.

Streaming music without permission can result in a fine from a minimum of $30 K up to $150 K per song played, so do not skip licensing.

Choosing the right tech stack

We suggest using the following tech stack for building a Spotify like app:

Develop an MVP

It is important to develop an MVP for your project. It helps you determine whether the app's outcomes meet your expectations. 

The MVP of your audio streaming app must have the following:

A user-friendly music player that allows users to create playlists, add albums, etc.

Offer multiple options, such as integrating signups via social networks like Facebook or Google.

Provide a search function that allows users to search for music by artist, title, etc.

The provision to browse and download their favorite tracks.

Create, share, or delete playlists.

Developing the MVP requires careful planning and execution. You will have to

Locate the target audience.

Plan on the essential features to implement.

Integrate with third-party services if required.

Get feedback from early users.

It will help you understand your app's glitches and create the best final version to release in the market.  

How Much Does It Cost To Build A Music Streaming App Like Spotify?

The key factors that can affect the cost of your music streaming app development are:

Platform: The cost varies according to the platform you choose. The cost of developing an iOS app differs from that of developing an Android app.

Features: The more features you want to include in your app, the more it will cost. 

Design: To create an app with a more visually appealing and user-friendly design will cost you more.

Integration: Integrating APIs, SDKs, and other third-party services into your app may increase the development cost.

Maintenance and updates: Once your app is launched, you may need to maintain and update it regularly. This will incur additional costs.

The cost of developing a music streaming service typically ranges between $15K and $25K, but can increase to around $50,000 for an app with more advanced features. The final pricing will depend on your specific requirements.

How to Make Money Using a Music Streaming App Like Spotify?

There are several ways to make money using Spotify like app. Three of the most popular methods are freemium, subscription, and advertisements.

Freemium model: This app offers basic app features for free and advanced features for a fee. Spotify uses this model to attract users and upsell premium subscriptions for ad-free listening, offline playback, and better quality.

Subscription model: This app charges users a fee for unlimited music and personalized features like playlists and offline playback. Apple Music and Tidal utilize this model because it provides a steady revenue.

Advertisements: Music streaming apps like Spotify also earn revenue from targeted ads played before/during songs. Ads are vital for free/freemium services, but too many or intrusive ones can drive users away. Balancing revenue and user experience is key.

Revealing The Secret Elements Behind Spotify’s Success

Spotify's success is due to its extensive user account customization and hyper-personalized features. The app encourages users to create their own playlists and build a music library on their accounts.

Spotify uses specially developed algorithms to analyze enormous amounts of collected data to understand users' preferences. Python, JavaScript, PostgreSQL, and a memory caching system make the fundamental components of the Spotify technology stack.

Spotify’s true fame comes from its discovery algorithms, which analyze user data and behavior to provide a personalized user experience. Users can like or dislike songs; the app stores this information in their preferences section along with the artist, album, and song details. Spotify also analyzes what tracks users skip or listen to until the end to offer tracks that suit their taste.

Wrapping Up

Thanks to its cutting-edge technologies, Spotify currently dominates the market, providing users with personalized and relevant music content. However, this presents an opportunity for new players to enter the market and capture their share of success in the field.

Choosing the right development team is also critical to ensure that your app stands out from competitors and delivers an exceptional user experience. At RaftLabs, we can provide you with the expertise and experience you need to create a successful music streaming app that meets your users’ needs and expectations.

Originally published at https://www.raftlabs.co.

[raftlabs]

Live streaming is a powerful marketing tool that allows a business to interact authentically with its audience. 

As per predictions published by Grand View Research, the live-streaming industry will witness an increase from $70 billion in 2021 to nearly $224 billion by 2028, a three-fold increase over seven years.

Technical advancements like blockchain technology and Artificial Intelligence will improve the quality of videos in the coming years.

Why are businesses interested in live streaming apps?

Live streaming apps allow businesses to share their content with a wide variety of viewers. 

They can connect with their customers more engagingly through such apps. 

Live streaming apps allow businesses to generate revenue through subscriptions, advertising, and sponsorships.

Businesses can fetch valuable insights from their live streaming sessions. It helps them to take the right actions to increase their sales or brand awareness.

Are you interested in building a live streaming app? 

Continue reading to learn about the critical features and appropriate tech stack for developing a successful live streaming app.

What are the essential features of an MVP for a live-streaming app?

Here are some essential features of an MVP for a live-streaming app:

User authentication and profile creation.

Ability to create and schedule live streams.

Real time video streaming and playback functionality.

Basic chat or comment feature for viewers to interact with streamers and each other.

Notification system to inform users about upcoming or ongoing live streams.

Basic analytics to track stream metrics such as viewership and engagement.

Ability to share live streams on social media or other platforms.

Monetization options for streamers, such as donations or subscriptions.

Essential moderation tools to manage user-generated content and enforce community guidelines.

An intuitive and user-friendly interface that is easy to navigate users.

If your MVP succeeds, you will be keen to enhance the software with more advanced features.

What are the advanced features you should implement for a live-streaming app?

Several advanced features can improve the user experience of a live-streaming app. Here are some suggestions:

Low-latency streaming: Latency is the time delay between the live event and when it gets streamed to the viewer. Implementing low-latency streaming can reduce this delay, resulting in a more real time experience for the viewer.

Live chat: A live chat feature can allow viewers to interact with each other and the streamer in real time. It can increase engagement and make the experience more social.

Adaptive bitrate streaming: This technology adjusts the quality of the video stream to the available bandwidth of the viewer's device. So viewers with slow internet connections can still view the stream without buffering, and viewers with fast connections can enjoy high-quality video.

Viewer analytics: Providing viewer engagement, retention, and drop-off analytics can help streamers understand the areas that require improvement.

Multiple camera angles: Offering different camera angles can make the viewing experience more engaging and allow viewers to choose their preferred angle.

Monetization options: Streamlining streamers' content through ads or subscriptions can incentivize them to create more content and improve the app's overall quality.

Cross-platform compatibility: Offering compatibility with multiple platforms, such as desktop, mobile, and smart TV, can help reach a wider audience and make it easier for viewers to access the stream.

Virtual backgrounds and AR filters: This feature enables users to add AR filters to their video streams or customize their backgrounds, enhancing the visual appeal of the stream.

Screen sharing: Allowing streamers to share their screen can enhance the educational aspect of the app by allowing them to share and teach others how to do something.

Interactive overlays: Interactive overlays can enable streamers to add graphics, polls, and other interactive elements to the video stream, making the experience more engaging.

Advantages of a Live Streaming App

Real time engagement: A live streaming app allows users to interact with their audience in real time, creating a more engaging and immersive experience.

Cost-effective: Live streaming eliminates the need for expensive production equipment, making it an affordable way to connect with your audience.

Increased reach: Live streaming allows you to reach a wider audience by eliminating geographic barriers, as anyone with an internet connection can watch.

Instant feedback:: Live streaming allows you to get immediate feedback. It will enable you to adjust your content or engagement strategies in real time.

Higher engagement rates: Live video generates higher engagement rates than pre-recorded video, as viewers feel a greater sense of urgency to participate.

Improved authenticity: Live streaming offers a more authentic experience, as it allows for unscripted and unedited content.

Increased brand awareness: Live streaming offers a unique opportunity to promote your brand and showcase your products or services to a large audience.

Accessible content: Live streaming allows for creating on-demand content that can be accessed anytime, giving your audience more opportunities to engage with your brand.

Additional revenue streams: Live streaming offers monetization opportunities through sponsorships, advertising, and pay-per-view models.

Enhanced customer relationships: Live streaming creates a personal and intimate experience with your audience, which can help strengthen customer relationships and loyalty.

Use Cases Of Live Streaming Apps

Enterprise & Corporate Communication

The ability to convey ideas in a crystal clear manner determines the success of a business. Live corporate streaming is a powerful tool for executing a company’s internal and external activities.

Companies can use live videos for their new product or service launch. Such sessions offer interactive sessions that can be highly productive.

Healthcare Organizations

Medical streaming services are going to revolutionize the medical field. 

Telemedicine and online consultation is already in trend these days. 

Patients no more have to wait in long queues to get medical assistance. 

Surgeries that require the monitoring of a senior doctor who is not in place use live streaming services to perform emergency surgeries. 

Or surgeons can broadcast their surgeries to their trainees. 

Fitness Studios

Don’t limit your fitness classes to a particular physical location.

Starting live streaming sessions widens your audience and makes the classes more interactive. Real time workouts will make the sessions more engaging and productive.

Educational Institutions

Live stream apps are becoming increasingly popular in education as they facilitate virtual learning and connect students and teachers.

Students can communicate with one another and ask questions through interactive platforms. It makes each session more enjoyable and effective.

Teachers can post lectures or videos that anyone can access anytime and anywhere around the globe.

The live streaming feature allows organizations to organize events like webinars without requiring participants to be physically present in one location.

Examples of Live Streaming Social Media Apps

Twitch

Twitch is a famous live streaming platform primarily used for video game streaming. People also use it for music, sports, talk shows, etc.

Features

Live streaming: The platform enables live streaming of gameplay, creative content, and more interests.

Chat and community: The live streaming app chat enables viewers to interact with streamers and each other.

Follow and subscribe: The application users can follow and subscribe to favorite streamers for notifications and support.

Emotes: Twitch has a variety of custom emotes that streamers and viewers can use in chat to express themselves.

Extensions and overlays: The platform offers interactive extensions and overlays for customizable streams.

Clips and highlights: The users can make and share clips of favorite streamers.

Instagram Live

Instagram Live is a feature on the social media platform that allows users to broadcast live videos to their followers in real time.

Features

Real time broadcast: Live video broadcasting in real time.

Add people: Ability to add a friend to your live video.

Special Effects: To add filters and effects for live video.

Pin a comment: Pinning comments to the top of the comment section.

Saving video: Saving the video to your story for 24 hours.

LinkedIn Live

LinkedIn Live is a video streaming feature available to users and pages to broadcast live content, including interviews, events, and conferences, directly to their audience on LinkedIn.

Features

Live video streaming: The platform provides LinkedIn users and pages with a live video streaming feature.

Real time engagement: LinkedIn Live enables real time engagement with viewers through comments and reactions, helping to foster a sense of community and interactivity.

Performance analytics: The users can analyze live video metrics to track engagement, audience, and reach.

Professional Platform: The platform offers a platform to showcase industry expertise, build thought leadership, and connect with a community.

Brand Awareness and Lead Generation: By providing an authentic and engaging way to connect with audiences, LinkedIn Live can help build brand awareness and generate leads.

Examples of Businesses Using Live Streaming Apps

Shopify

Shopify's Live Shopping App is a powerful tool for merchants to engage with their customers in real time. 

Features

With the app, merchants can host live streams on their Shopify store, allowing customers to watch and interact with them in real time. 

The app allows merchants to broadcast live streams to social media platforms like Facebook, Twitter, and YouTube.

Shopify merchants report a 17% conversion rate from live stream shopping events.

Target

Target Live is an innovative shopping feature that allows customers to purchase their favorite items in real-time.

Features

The feature provides shoppers with a wide range of product information, including product descriptions, images, and pricing.

The app also features a live chat feature, allowing customers to ask questions and get help from Target's customer service team.

World Bank

The World Bank Live platform is an interactive platform that provides a wide range of services, including interviews, market analysis, and discussions with global audiences.

Features

Customers can use this platform to access information and resources related to financial services, such as banking and investment.

People can receive answers from experts and have a transparent and engaged banking experience.

Udemy

Udemy is an online learning platform that provides customers with a convenient and effective way to learn new skills and gain knowledge through its live streaming service.

Features

Through this service, users can access a variety of courses, tutorials, and lessons taught by experts from a range of disciplines. 

The service creates an engaging and interactive learning experience.

Fhitting Room 

Fhitting Room is High-Intensity Interval Training (HIIT) studio that provides on-demand and live-streaming classes for users to get an intense full-body workout.

Features

The live streaming classes allow users to perform challenging workouts from the comfort of their own homes.

The live classes are pre-recorded. So users can access them anytime.

Tech Stack To Build a Live Streaming App

Find some of the common tech stack we use in building a live streaming app below:

Follow These 9 Steps To Build A Live Streaming App

Step 1 - Identify your target audience

To create a successful live streaming app, it's essential to understand the 

demographics 

interests

preferences 

of your target audience. 

This information can help you design an app with content, features, and user experience that appeals to your audience. It will earn you higher engagement and retention rates.

Step 2 - Select a team

Finalizing your team is a critical step when creating a live streaming app. Ensure your team has diverse skill sets and expertise.

Step 3 -Select monetization strategies

It is essential to implement effective monetization strategies to make a successful live streaming app.  

This can include options like 

in-app purchases

ad revenue sharing

subscription services

brand partnerships

This generates revenue for the platform and its users and improves user experience.

Step 4 - Pick a CDN

A good Content Delivery Network will ensure your content is delivered quickly and reliably to users worldwide. It provides a seamless and high-quality streaming experience. So it is crucial to select the right CDN that will allow you to scale your server. 

Step 5 - Reliable hosting service

A good hosting provider will offer 

high uptime.

fast load times.

robust security measures.

responsive customer support.

A reliable hosting service ensures that your website or application remains accessible and stable.

Step 6 - Storage solution

High-quality video content requires large amounts of storage. So you will have to. 

 While selecting a scalable and reliable storage solution, consider the below parameters:

Speed.

Security.

Accessibility.

Cost requirements.

It ensures a seamless live streaming experience for users.

Step 7 - Engaging UI/UX design

A visually appealing and user-friendly interface enhances the overall user experience. It leads to increased user engagement and retention. 

The interface design must be kept simple and intuitive.

Step 8 - Test your MVP

Creating a minimal viable product (MVP) for a live streaming app helps to:

save time

reduce costs

increase the chances of success by testing the core features 

validate the concept before investing in further development.

Step 9 - Iterate your application

To launch a live stream app, market it uniquely, prioritize user experience, monitor metrics, and tailor the UX to improve it.

What are some of the common live streaming concerns?

Some of the most common live streaming concerns include:

Buffering and lag: Live streams can suffer from buffering or lagging issues, causing delays or even complete interruptions in the stream.

Audio and video quality: Low-quality audio and video can be a significant turn-off for viewers and impact their ability to enjoy the content.

Bandwidth Issues: Some live events may experience bandwidth disruption due to large numbers of concurrent viewers. It requires massive bandwidth for smooth live streaming.

Compatibility issues: Viewers may encounter compatibility issues with their device or web browser, preventing them from accessing the live stream.

To provide a positive user experience, address the above concerns and ensure high-quality live streams for viewers.

Cost to create a live streaming app

The cost of developing a video streaming app varies based on factors like complexity, number of features, team size, etc. 

Basic audio video call apps may cost around $15-25K. Applications with more complex features may cost more than $50K. 

Approach a software development company stating your prerequisites to obtain a more precise estimate based on specific needs.

Monetization strategies for a live streaming app

Live streaming apps can generate revenue through various monetization strategies, such as:

Advertisements: Displaying ads before, during, or after a live stream can generate revenue through pay-per-click or pay-per-view models.

Subscription-based model: Offering premium content or exclusive access to live streams through subscription-based plans can provide a steady revenue stream.

Pay-per-view model: Charging viewers to access live streams of certain events or content can be a lucrative monetization strategy.

In-app purchases: Offering in-app purchases for virtual goods, such as stickers or emojis, can provide additional revenue streams.

Brand partnerships: Partnering with brands to promote their products or services during live streams can generate revenue through sponsored content or product placement.

Donations: Allowing viewers to donate to content creators during live streams can provide a source of revenue while also building audience engagement and loyalty.

Merchandise sales: Selling merchandise, such as t-shirts or mugs, with branding or logos can provide an additional revenue source while promoting the app and its content.

Implementing one or more of these monetization strategies can help live streaming apps generate revenue and create a sustainable business model.

Our Works

Hybrid remote working app

WorxRemotely is an enterprise-grade SaaS solution developed for hybrid-remote teams. It eliminates the need to use different services by providing a unified platform for communication, engagement, task management, and productivity.

Know more about the project >>

An OTT Video Streaming Platform

A movie rights distributor in India aimed to develop a scalable OTT platform for remote movie theaters and individuals, distributing films weekly via Android STBs.

Know more about the project >>

Conclusion

Building a live streaming app can be challenging, but using SDKs and APIs can simplify the process. Consider giving RaftLabs a chance if you seek skilled developers or teams that can be easily adjusted to fit your project timeline. RaftLabs engineers can also assist in developing a top-tier app to take your business to the next level.

[raftlabs]

How To Create A Scalable DeFi App In 2023? A Comprehensive Guide For DeFi App Development.

What are Defi apps?

DeFi apps are decentralised finance apps which have made their place in the crypto world along with creating traction worldwide. It is a secure financial technology based on secure distributed ledgers which are used in case of crypto currencies too.

Centralised financial institutions are being challenged by DeFi apps and promote peer-to-peer digital exchanges.

The concept of secure digital wallets eliminates the fees that the bank and other companies charge for using their services. Funds can be transferred in minutes without and DeFi also doesn’t require any internet connection to function smoothly. The main agenda to create DeFi platforms is to eliminate the third party platforms and the system of centralised institutions from financial transactions.

Stablecoins, softwares and hardwares enables the development of DeFi applications.

Centralised apps vs Decentralised apps 

Centralised apps and decentralised finance (DeFi) apps differ in several key ways:

Centralization vs Decentralization: Centralised apps rely on a central authority or intermediary to control and manage the platform and its users' data and assets. DeFi apps, on the other hand, are built on blockchain technology and are decentralised, meaning that there is no central authority controlling the platform.

Transparency: Centralised apps often have opaque internal workings and decision-making processes, while DeFi apps are built on open-source technology and are transparent by design.

Trust: Centralised apps rely on trust in a central authority to secure and manage users' data and assets. DeFi apps, on the other hand, rely on the trustless nature of blockchain technology and smart contracts to secure and manage users' data and assets.

Accessibility: Centralised apps often have strict verification and KYC (Know Your Customer) processes, while DeFi apps often allow for more accessible and anonymous participation.

Censorship resistance: Centralised apps are often subject to censorship and control by the central authority, while DeFi apps are built on a decentralised infrastructure that is resistant to censorship.

In summary, Centralised apps rely on a central authority, while DeFi apps rely on blockchain technology and smart contracts to provide a more open, transparent, and accessible financial system. But, DeFi apps may also come with a greater degree of risk.

Types of DeFi apps available in the market:

There are several types of DeFi apps, some of the most popular ones include:

Lending and borrowing platforms: These platforms allow users to lend and borrow cryptocurrency and other digital assets in a decentralised and trustless manner.

Decentralised exchanges (DEXs): DEXs are decentralised marketplaces for buying and selling cryptocurrencies without the need for a central authority.

Stablecoins: These are digital assets pegged to the value of a fiat currency, such as the US dollar, to reduce volatility.

Yield farming: A form of earning interest on digital assets through liquidity provision or staking.

Insurance: Platforms that allow users to purchase insurance for their digital assets.

Predictions markets: Platforms that allow users to place bets on the outcome of events, such as election results.

Identity and reputation systems: Platforms that allow users to establish and verify their identities and reputations in a decentralised manner.

These are some of the examples of the many types of DeFi apps that exist, but the space is constantly evolving and new use cases and possibilities are emerging.

Key components of DeFi apps 

Given below are the components and the services provided by the DeFi apps:

Decentralisation: DeFi apps are built on blockchain technology and are decentralised, meaning that there is no central authority controlling the platform.

Smart contracts: DeFi apps use smart contracts to automate and enforce the terms of agreements between parties. Smart contracts allow for trustless and transparent execution of financial transactions.

Cryptocurrency: DeFi apps often use cryptocurrency as a means of exchange and store of value, allowing for fast and low-cost transactions.

Transparency: DeFi apps are built on open-source technology and are transparent by design, allowing for easy auditing and verification of the platform's workings.

Accessibility: DeFi apps often allow for more accessible and anonymous participation, without the need for traditional financial intermediaries like banks.

Permissionless: DeFi apps don't require permission to access or use, anyone can participate in the network, it's open to everyone.

Censorship resistance: DeFi apps are built on a decentralised infrastructure that is resistant to censorship, allowing users to have full control of their funds and transactions.

Interoperability: DeFi apps often have interfaces that allow them to interact and connect with other DeFi apps, creating a broader ecosystem of financial services.

These are some of the basic key features of DeFi apps, but the space is constantly evolving and new features and possibilities are emerging.

Some must-have features in DeFi apps 

Some important features that are commonly included in DeFi apps include:

Liquidity pools: Platforms that allow users to provide liquidity to a pool of assets in exchange for a share of the trading fees.

Atomic swaps: This allows users to exchange one cryptocurrency for another without the need for a centralised exchange.

Governance: Community members can vote on proposals to improve the platform and its underlying protocols.

Flash loans: Allows users to borrow assets for a very short period of time, usually a few minutes, without collateral.

Multi-signature wallets: A feature that allows for multiple signatures to be required for transactions to be executed, providing an extra layer of security.

Yield farming: Users can earn interest on their digital assets through liquidity provision or staking.

Compliance: A feature that allows for compliance with regulations and laws by implementing KYC and AML procedures.

Instant exchange: A feature that allows users to exchange one cryptocurrency for another without the need for an order book, it's done through a smart contract.

Privacy: A feature that allows users to keep their transaction and personal information private, it can be done by using zero-knowledge proof or privacy coins.

These are some of the important features commonly included in DeFi apps, but it is important to note that not all DeFi apps have all these features and new features are constantly being developed.

How do DeFi apps work?

DeFi apps, or decentralised finance apps, work by using blockchain technology and smart contracts to provide financial services in a decentralised manner. Here's a general overview of how DeFi apps work:

A user interacts with the DeFi app through a digital wallet, such as MetaMask or Trust Wallet, which is used to store their cryptocurrency and interact with the app's smart contract.

The smart contract is a set of rules and instructions that are stored on the blockchain and automatically executed when certain conditions are met.

The DeFi app's smart contract interacts with other smart contracts on the blockchain to access or provide liquidity, execute trades, or facilitate loans.

The DeFi app's smart contract also interacts with decentralised oracles, which are used to fetch external data, such as price feeds, to be used in the execution of the smart contract.

When a user initiates a transaction, such as borrowing or lending cryptocurrency, the smart contract automatically executes the transaction and updates the user's balance accordingly.

The DeFi app's smart contract also records all transactions on the blockchain, providing a transparent and auditable record of all actions taken on the platform.

Some DeFi apps also have a governance mechanism, where the community can vote on proposals for updating or improving the platform and its underlying protocols.

DeFi apps are built on open-source technology, providing transparency and trust in the platform. These apps can be built on different blockchain networks, like Ethereum, Binance Smart Chain, and more. They offer a more open and accessible financial system, but there's also a potential for higher risk.

Uses of DeFi apps 

Decentralised finance (DeFi) apps can be used for a variety of purposes, including:

Lending and borrowing: Users can lend or borrow assets using smart contracts on the blockchain, often with low or no fees and without the need for intermediaries such as banks. Here are top 5 DeFi apps that support lending and borrowing.

Aave: A decentralised money market platform that allows users to earn interest on their deposits and borrow assets.

Compound: An automated money market protocol that allows users to earn interest on their deposits and borrow assets.

MakerDAO: This platform enables users to borrow DAI, a stablecoin pegged to the US dollar, by locking up collateral in the form of ETH.

dYdX: This exchange is decentralised and offers margin trading, lending, and borrowing.

Nexus Mutual: This is an insurance platform that allows users to earn interest on their deposits and take out coverage for smart contract risks.

Trading and liquidity provision: Users can trade cryptocurrencies and other assets on decentralised exchanges (DEXs) using smart contracts, and can also provide liquidity to these exchanges to earn trading fees.

Uniswap: This exchange enables users to trade cryptocurrencies and tokens in a decentralised manner.

Aave: A lending platform that allows users to earn interest on their crypto assets by lending them to borrowers.

MakerDAO: A platform that allows users to take out loans using their cryptocurrencies as collateral.

Compound: A lending and borrowing platform where users can earn interest on their crypto assets or borrow against them.

Curve: an exchange that focuses on providing stablecoin liquidity.

Stablecoins: Users can use stablecoins, which are cryptocurrencies pegged to the value of real-world assets such as the US dollar, to reduce the volatility of their investments.

MakerDAO: A decentralised platform that allows users to take out loans using their cryptocurrencies as collateral, with the Dai stablecoin being used as the loan currency.

Compound: A lending and borrowing platform where users can earn interest on their crypto assets or borrow against them using stablecoins.

Aave: A lending platform that allows users to earn interest on their crypto assets by lending them to borrowers, with the option to receive interest payments in stablecoins.

Curve: An exchange that focuses on providing stablecoin liquidity, allowing users to trade between different stablecoins with low slippage and high liquidity.

dYdX: A platform for margin trading and derivatives, offering the ability to trade and take out loans using stablecoins.

Insurance and risk management: Users can purchase decentralised insurance to protect against certain types of risks, such as the loss of private keys or the failure of a smart contract.

Uniswap: An exchange that enables users to trade cryptocurrencies and tokens in a decentralised manner.

Aave: A lending platform that allows users to earn interest on their crypto assets by lending them to borrowers.

MakerDAO: A decentralised platform that allows users to take out loans using their cryptocurrencies as collateral.

Compound: It is a lending and borrowing platform where users can earn interest on their crypto assets or borrow against them.

Curve: An exchange that focuses on providing stablecoin liquidity.

Yield farming and liquidity mining: Users can earn interest or rewards for providing liquidity to specific pools or protocols and many more, as the market is still young and new use cases are being discovered regularly.

Uniswap: An exchange that enables users to provide liquidity to the platform in exchange for UNI tokens and trading fees.

Aave: A decentralised lending platform that allows users to earn rewards for providing liquidity to the platform, with the option to receive interest payments in stablecoins or other cryptocurrencies.

Compound: Lending and borrowing platform where users can earn interest on their crypto assets or borrow against them, with the option to receive interest payments in stablecoins or other cryptocurrencies.

Balancer: A decentralised exchange that allows users to provide liquidity to the platform in exchange for BAL tokens and trading fees.

Curve: Exchange that focuses on providing stablecoin liquidity, allowing users to trade between different stablecoins with low slippage and high liquidity, and to earn rewards for providing liquidity to the platform.

Technical stack to create DeFi apps 

To create decentralised finance (DeFi) applications, a developer typically uses a combination of blockchain technology, smart contract platforms, and decentralised storage solutions. Some popular choices include:

Blockchain Platforms:

Ethereum is currently the most widely used blockchain for DeFi development, but other options such as Binance Smart Chain, Polygon, and Solana are gaining popularity.

Ethereum: It is the most popular and trustable Blockchain for development where transaction history is visible for the users to claim and prove their ownership easily. Ethereum blockchain rarely goes down and is one of the favourite platforms for users to build on DeFi apps.

Polygon: It is a layer-2 Blockchain and works on proof of stake. It is used as the Blockchain platform for DeFi app development.

Flow: It is a decentralised blockchain designed for creating various DeFi apps using a Cadence programming language. 

Tezos: It is an open-source blockchain open for its users and developers to make new changes and has a significant scope of research and development. It uses a pre-compiled FA2 NFT contract written in LIGO Smart contract language.

Smart contract platforms:

 Ethereum's smart contract platform is called Solidity, and it is used to create and deploy smart contracts on the Ethereum blockchain. Other platforms such as Truffle, Embark, and OpenZeppelin can also be used to help manage and test smart contracts.

Decentralised storage: 

Interplanetary File System (IPFS) and Swarm are two decentralised storage solutions that can be used to store and access data on a decentralised network.

IPFS: It is a peer-to-peer hypermedia protocol through which we can store the media content in a decentralised manner giving stress to the security aspect of the storage system. 

Filecoin: We can store critical information like media files in a decentralised manner with the help of Filecoin. Users can get effortlessly comfortable with this cloud-based service of Filecoin, which provides the developers with all the necessary features of DeFi apps creation.

Pinata: It is a popular platform for uploading and managing files on IPFS and provides users with secure and verifiable files.

Development tools:

 Developers also use a variety of development tools such as web3.js and web3.py to interact with the blockchain and smart contracts, as well as development environments like Truffle Suite, OpenZeppelin, and Embark to deploy and test smart contracts.

Back end:

NodeJS

ExpressJS 

Java 

GO

Front-end Frameworks: 

React.js and Angular.js are popular front-end frameworks that can be used to build user-friendly interfaces for DeFi applications.

React

Angular 

Vue

Javascript 

Bootstrap

Databases:

PostgreSQL

MySQL 

NoSQL: MongoDB

It's important to note that the DeFi ecosystem is constantly evolving and new tools and technologies are emerging all the time. Developers should stay informed about new developments and be prepared to adapt their technical stack as needed.

Cost to create a decentralised financial platform

The cost of creating a DeFi app depends on several factors such as the complexity of the app, the team size, the platform and technology used, and the geographical location of the development team.

For a basic DeFi app, the cost could range anywhere from $10,000 to $50,000. However, if the app requires more complex features, the cost could go up to $100,000 or more.

It's also worth considering that the development cost is just one part of the overall budget. Other costs such as marketing, legal and security expenses should also be taken into account.

Steps to create DeFi apps: 

After researching and assessing the recent developments, we have come across several technologies and strategies that create profound DeFi applications with user friendly interfaces.

Defining the niche of DeFi app:

 Before going to the actual development, we need to define the DeFi app archetype that the customer wants for his application. We need to have an overview of different types of DeFi apps available in the market and which ones are the most popular. Choosing the DeFi app is necessary based on your business goals and objectives.

Making a discovery phase: 

The discovery phase of creating a DeFi app involves researching and understanding the market demand and competition in the DeFi space.

Identifying the pain points or gaps in the current DeFi ecosystem that your app can address is really important. Based on your research, define the minimum set of features that your DeFi app must have to solve the problem and meet the needs of the target audience. Developers should create a high-level roadmap for the development of the DeFi app, including the timeline, milestones, and budget.

Choosing a Blockchain 

When choosing a blockchain for DeFi (Decentralised Finance) applications, consider the following factors:

Security: The blockchain should have a strong security track record, with a decentralised consensus mechanism that is resistant to 51% attacks.

Scalability: DeFi applications require high transaction throughput, so the blockchain should have good scalability features to support a large number of users and transactions.

Interoperability: The blockchain should have good interoperability with other blockchains, allowing for seamless transfer of assets and data between different networks.

Developer support: A strong and active developer community is important for ensuring that the blockchain can support new DeFi applications and evolve over time.

Cost: DeFi applications often involve small transactions with high frequency, so the cost of using the blockchain should be reasonable and predictable.

Regulation: The regulatory environment for DeFi applications is still evolving, so it's important to choose a blockchain that is compliant with current and future regulations.

Based on these considerations, some of the most popular blockchains for DeFi include Ethereum, Binance Smart Chain (BSC), and Polygon (formerly known as Matic Network).

Choosing Tokenomics for your DeFi app

The token distribution should be fair and transparent, with a clear plan for how new tokens will be created and distributed.It should have a clear use case and utility within the DeFi application, such as providing access to certain services or serving as a means of payment or collateral.

The token economics should incentivize users to participate in and contribute to the DeFi ecosystem, such as through staking, liquidity provision, or governance. It should be stable and not subject to excessive volatility, as this can undermine the usefulness of the token within the DeFi application.

Crypto wallet Integration 

Integrating crypto wallets in DeFi applications is a crucial aspect to ensure that users have secure and seamless access to their assets and can participate in DeFi activities such as trading, borrowing, and lending.

Always ensure that the integration follows best practices for security, such as implementing proper key management and encryption to protect users' assets. Some popular crypto wallet providers that are commonly integrated with DeFi apps include MetaMask, Gnosis Safe, and Argent.

Oracle providers 

Oracles are essential components in many  Decentralised Finance applications, as they bring external data into the blockchain and allow smart contracts to access real-world information.

Here are a few steps to consider when using oracles in DeFi apps:

Determine the data source: Determine what external data is needed for the DeFi application, such as market prices, exchange rates, or weather data.

Choose an oracle provider: Choose a reputable and reliable oracle provider that can securely and accurately provide the required data.

Integration with the smart contract: Integrate the oracle into the DeFi app's smart contract, allowing it to access the external data and execute its logic based on that data.

Implement security measures: Implement security measures to protect against oracle failures or malicious attacks, such as using multiple oracles for data verification or implementing a dispute resolution mechanism.

Testing: Thoroughly test the oracle integration to ensure that it is working as intended and that the smart contract is able to access the external data accurately and securely.

Maintenance: Regularly monitor and maintain the oracle integration to ensure that it continues to work properly and that security measures are up to date.

Some popular oracle providers in the DeFi space include Chainlink, Band Protocol, and Tellor.

Deciding UI/UX of DeFi app

Next, we need to work on the UI and UX of the site. An attractive and user-friendly interface will invite many people to the platform and increase traffic. Developers need to work on the frontend part of things, where they will decide the look and feel of the DeFi app and how various icons and transactions will be presented to the users.

Testing the App:

We need to have QA testers to find any bugs in the app and fix them before our decentralised platform is released. This ensures that the best product is served to the customer. The applications should meet the basic requirements, have no bugs and errors, and perform well under different conditions.

Making connections:

Lastly, building a healthy community of buyers and bidders is essential for smoother marketplace functioning. The NFTs and the digital assets should be competitive enough for the people to choose your marketplace before going to any other platform to buy them.

Maintenance of the DeFi app:

It is essential to maintain the app after it is launched. You should fix the bugs from time to time and keep adding new features to enhance the working of your platform. Security should be the topmost priority to secure the assets of the buyers and sellers there. It is an ongoing process where you need to constantly work on the functionality, performance, and scalability of the performance of the decentralised finance app.

Conclusion 

In conclusion, DeFi (Decentralized Finance) apps are changing the financial landscape by providing a more accessible and open financial system. These apps use blockchain technology to offer financial services such as lending, borrowing, trading, and more, without the need for intermediaries. DeFi apps have the potential to disrupt traditional finance and provide financial freedom to people around the world. RaftLabs provide excellent services to develop an extensive and user friendly interface for your app using the latest technologies and services. Customers can save their time while building DeFi apps with our help and can get consulting services from our experts.

Originallypublished at https://www.raftlabs.co.

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