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How Much Does It Cost To Build An App Like Luno?

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How Much Does It Cost To Build An App Like Luno?
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How much does it cost to build an app?

How Much Does It Cost To Build An App Like Luno?

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App development

Develop Credibility and Trust

World-class app development that allows you to start, run and grow your business.

Building a custom app can boost your brand's trust and credibility, ultimately benefiting your business in the long run. We will discuss the following topics:

1. Reputation Management
2. Customer Support and Engagement
3. Data-Driven Decision Making
4. Demonstrating Social Responsibility

A well-made custom app can dramatically improve your brand's marketability and reputation. A trustworthy app will show that you are dedicated to providing top-notch goods and services. As a result of knowing they can rely on you, your clients and business partners will have more faith in you.

A custom app also strengthens your brand identification by demonstrating your professionalism and attention to detail.

Customer Support and Engagement
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A custom app enables you to offer personalized customer support and engagement, helping you address the unique needs and pain points of your African target market. 

By incorporating in-app support features, such as chatbots, help centres, or direct communication channels, you can provide timely assistance to your users, leading to increased satisfaction and loyalty. 

This level of support also encourages users to share their positive experiences with others, further boosting your brand's credibility.

Data-Driven Decision Making
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You may get useful user data through custom app creation, giving you insights into user behavior and preferences. You may improve your app and broader business strategy by studying this data and making wise decisions.

Delivering a more individualized experience for your users is made possible by a data-driven strategy. This helps to increase their faith in your brand and ultimately ensures that they will stay visiting.

Demonstrating Social Responsibility
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Putting money into a customized app that caters to your target market's needs demonstrates your commitment to social responsibility.

You can showcase your brand's dedication to having a beneficial influence by developing an app that takes into account regional difficulties, environmental issues, or social issues that are pertinent to your audience.

This thoughtful approach to app creation not only strengthens the integrity of your brand, but it also appeals to customers who value companies with a clear sense of mission.

Custom App development

Benefits of Custom App Development

World-class app development that allows you to start, run and grow your business.

Imagine custom app development as an expert chef crafting a personalised menu for their restaurant. Just as a meticulously planned and executed meal can leave diners with a memorable culinary experience, a custom app is specifically designed to cater to your business's distinct needs and objectives, leaving a lasting impression on your users. 

Investing in custom app development offers several advantages, including:

  1. Improved user experience
  2. Increased efficiency
  3. Competitive advantage
  4. Higher profitability
  5. Seamless Integration with Existing Systems
  6. Enhanced Flexibility and Adaptability
Improved user experience
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A custom app allows you to create an interface that is tailored to your target audience, ensuring a seamless and enjoyable experience. By focusing on the preferences and expectations of your users, you can craft an app that not only meets their needs but also delights them with personalized features and intuitive navigation.The best part? If you develop an app that your users love, you ensure that they keep coming back for more and turn them into lifelong customers.

Custom apps can be designed to streamline business processes and boost productivity. By automating repetitive tasks, integrating with existing systems, and providing real-time data access, custom apps empower your team to work more efficiently and make informed decisions quickly, just like a well-tailored suit that enables effortless movement and comfort.

A unique app helps you stand out from the competition and attract more customers. In a world where off-the-shelf solutions are abundant, a custom mobile app acts as a distinctive and exclusive suit that sets you apart in the crowd, showcasing your brand's personality and commitment to providing a superior experience.

A well-designed app can generate increased revenue and improve customer retention. By offering a memorable and engaging user experience, your custom app encourages users to continue using your services and make purchases. It's akin to wearing a sharp, tailored suit that not only grabs attention but also instils trust and confidence in your brand, ultimately resulting in increased profitability.

Custom app development enables seamless integration with your existing systems and third-party applications. This ensures a smooth flow of data between various platforms, enhancing communication and collaboration within your organization. The ability to integrate effortlessly is like having a versatile tool that easily connects and works in harmony with other components in your business ecosystem.

As your business evolves, a custom app can be easily modified or expanded to accommodate changing requirements and market trends. This adaptability is like having a dynamic strategy that can be adjusted and fine-tuned to suit your business's changing needs, ensuring continued relevance and success in an ever-changing environment.The benefits don’t just stop there though. If you want to build trust and credibility with your customers, a custom app is a great way to do so.

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Pivoting and Iterating

Investing in custom app development can be expensive, but being open to pivoting and iterating based on market feedback is crucial to ensure long-term success. By adapting your app to the ever-changing needs and preferences of your target market, you can stay ahead of the competition, increase user satisfaction, and maximize your return on investment.

Encourage users to provide feedback and reviews, which will help you identify pain points and areas for improvement. By addressing these concerns, you demonstrate your commitment to serving the unique needs of your users, enhancing your app's credibility and increasing user satisfaction. Tools like in-app surveys, app store reviews, or social media can be used to gather feedback and gauge user sentiment.

Iterate Based on User Data
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Analyze user behaviour and engagement data to understand how your app is being used and identify potential bottlenecks or areas of friction. By making data-driven decisions, you can prioritize improvements and new features that will resonate with your audience, maximizing the impact of your development budget and efforts.

As you adapt your app based on market feedback, be prepared to allocate resources for ongoing updates and improvements. While this may increase your app's overall cost, the benefits include increased user satisfaction, reduced churn, and ultimately, higher long-term profitability. Regular updates also demonstrate your commitment to delivering a high-quality app experience tailored to your users' needs.

Adopt a flexible, agile development methodology that enables prompt iteration and change in response to market feedback.

Your app will stay relevant and helpful to your target market if you are receptive to user needs and can swiftly pivot and make adjustments.

By prioritizing products and enhancements that have the greatest impact, an agile methodology can also assist you in managing development expenses more successfully.

While it's essential to iterate and adapt your app based on user feedback, it's also crucial to balance this with innovation and forward-thinking. Continuously explore new technologies, trends, and market opportunities to ensure your app stays ahead of the curve and caters to the evolving needs of your user base. By striking the right balance between adaptation and innovation, you can maintain a competitive edge and secure long-term success for your app.

App development

The Importance of UX and UI

Creating an outstanding user experience and design is crucial for a successful app. A well-designed app should be visually appealing, intuitive, and user-friendly.

  1. Consistency: Consistent design elements throughout the app, such as typography, colours, and button styles, create a unified look and feel. This consistency reduces the cognitive load on users, helping them navigate your app with ease and understand its functionality more quickly.
  2. Simplicity: A simple and uncluttered interface reduces distractions and makes it easier for users to focus on the tasks at hand. Strive for a minimalistic design by eliminating unnecessary elements, using whitespace effectively, and prioritizing essential features.
  3. Feedback: Providing feedback, such as visual cues and confirmation messages, helps users understand the results of their actions. This can include animations for button clicks, success messages for completed tasks, or error messages when something goes wrong. Clear feedback enhances user satisfaction and encourages continued use of your app.
  1. Understand your target audience: Research your users' demographics, needs, preferences, and behaviours to tailor your app to their expectations. Conduct surveys, interviews, and usability testing to gather insights that help shape your app's features and design.
  2. Use clear navigation: Intuitive navigation is essential for a positive user experience. Implement well-organized menus, easily accessible search functions, and recognizable icons to help users find their way around your app effortlessly.
  3. Optimize for performance: Fast loading times and smooth performance are critical for user engagement. Optimize your app's code, reduce file sizes, and use efficient algorithms to ensure your app runs quickly and seamlessly on various devices.
The Impact of Good Design on App Adoption and Retention
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Higher app adoption rates and greater client retention result from spending money on excellent design and user experience. A well-designed app has a higher likelihood of being passed along by users and being used again, which leads to better ratings, word-of-mouth advertising, and long-term success.

App development

Security Considerations for App Development

In today's interconnected digital world, app security is paramount. We take a look at some vital security considerations.

The Privacy Act of 1974 is the primary privacy regulation in America that regulates the sharing of data. The Privacy Act governs how federal agencies may gather, utilize, and disclose personal information. Individuals are given specific rights under it, including the ability to access and update their personal information, and federal agencies are required to protect such data from illegal disclosure.

The Health Insurance Portability and Accountability Act (HIPAA) for health information, the Gramm-Leach-Bliley Act (GLBA) for financial information, and the Children's Online Privacy Protection Act (COPPA) for children's online data are just a few federal laws that deal with privacy and data sharing in addition to the Privacy Act. Additionally, each state has its own privacy laws that could offer additional protections.

Keep up with the latest security threats and best practices, such as incorporating multi-factor authentication, securing APIs, and using secure coding practices. Regular security audits and vulnerability assessments can help identify potential weaknesses and protect your app from emerging threats.

Working with Trusted Vendors
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Select a reputable development partner with a proven track record in security best practices, like Scrums. A reliable vendor will prioritize security throughout the development process and help you build a secure app that meets industry standards and best practices.

Scrums.com provides high quality engineering teams to scaling enterprises at lower costs. Scrums.com designs, builds, deploys and maintains custom software that gives scale-ups the opportunity to grow world-class businesses.

Scrums.com provides high quality engineering teams to scaling enterprises at lower costs. Scrums.com designs, builds, deploys and maintains custom software that gives scale-ups the opportunity to grow world-class businesses.

How much does it cost to build an app?
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How Much Does It Cost To Build An App Like Luno?

Key cost factors for an app like Luno: mobile-first design, payment integration, and data management.
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The app development landscape in Africa is exciting and challenging, especially for financial apps like Luno. With its fast-growing user base seeking digital financial services, Africa is home to three key tech hubs—Kenya, Nigeria, and South Africa—where mobile penetration is soaring. However, building an app for the African market involves much more than simple coding and design. The unique technological challenges—limited connectivity, data constraints, and low-cost smartphone usage—demand strategies tailored to African users’ preferences.

Compared to other regions, many African users rely heavily on mobile devices due to limited access to desktops. Subsequently, apps performing well in mobile-first, low-bandwidth, and low-power-consumption settings are valuable and essential. Apps like Luno, designed for cryptocurrency trading and investment, must succeed in environments where users may be experiencing fluctuating or poor mobile connectivity, inconsistent electricity, and varying access to payment gateways and banking systems.

Countries like Kenya, Nigeria, and South Africa present a wealth of opportunity for financial apps—so long as app development decisions are tailored to these local realities. Investing in these regions, particularly in custom app development, means building highly localized platforms, significantly impacting overall app development costs.

Platform and Device Compatibility Across Africa

When considering how much it costs to build an app like Luno for the African market, platform, and device compatibility rank high on the priority list. Android dominates the African smartphone market. Countries like South Africa, Kenya, and Nigeria rely on low-cost Android phones, often with limited processing power and storage capacity compared to mid-range and premium smartphones. This is critical in shaping the app development cost because optimizing for such devices requires additional time and resource considerations.

For an app like Luno, where users depend on real-time data for cryptocurrency trading and transactions, optimizing for low-end devices means ensuring that the app can deliver smooth performance under constrained conditions. Please do so to ensure good user engagement and app effectiveness. To maintain market relevance, developers working on such apps must ensure that basic functionality can run smoothly on these devices without taxing their minimal system resources.

Considering Africa’s inconsistent internet access, deploying apps using progressive web app (PWA) technologies or lightweight mobile-first apps becomes essential. PWAs perform even in low-bandwidth areas, requiring less mobile data. Additionally, developers should prioritize ensuring that these apps can handle off-network functions for users who intermittently lose data connectivity.

Focusing custom app development on device compatibility suited to African conditions may increase costs compared to building for non-African markets. However, this approach ensures more extensive user adoption and fosters retention in the technologically diverse African landscape.

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Design and User Experience (UX/UI) in the African Context 

User experience (UX) and user interface (UI) design for apps like Luno in Africa need to focus on simplicity and efficiency when it comes to performance and intuitive flows adapted to the unique needs of African users. Given that mobile networks in Africa can be unreliable, apps focusing on low bandwidth usage will perform considerably better on the continent. Developers must implement designs that rely on smaller data packets exchanging information with lower latency—crucial for real-time crypto transactions.

A clutter-free UI is another key requirement in Africa’s telecom environments, where users expect fast load times. Incorporating solutions tailored to African connection speeds (2G in many rural areas and 3G in urban peripheries) will balance performance and cost optimization during the app development cycle. Furthermore, localization in terms of language preferences (e.g., Kiswahili in East Africa, Pidgin in Nigeria) and visual elements that resonate with regional users adds another layer to the design costs but are invaluable for user engagement.

With African audiences also skewing young and mobile-first, certain social-sharing features within the app and onboarding designed to minimize friction (e.g., simple step-by-step wizards) are vital considerations for gaining user trust.

Integrations with Third-Party Services/External Systems 

For an app like Luno to operate smoothly in Africa, it must integrate with various third-party services across different countries. These include payment gateways such as M-Pesa (Kenya and Tanzania), Airtel Money (available in multiple countries), Paga in Nigeria, and MTN Mobile Money, which are used across several African nations. Each payment solution has unique system rules and security measures, requiring detailed, often complex integration that adds to the development timeline and cost.

Beyond payments, many African users navigate low-internet or no-internet scenarios, so developers may need to utilize SMS-based integrations or USSD technology. These offer users basic financial transactions via simple text messages, bypassing the need for data altogether. However, these integrations are unique from region to region, making including such infrastructure costly when targeting multiple African markets.

Database and Backend Infrastructure 

The backend infrastructure for an app like Luno in Africa must consider regions with low connectivity constraints while being flexible enough to accommodate offline database access and sync mechanisms—where offline data input must be saved and later synced when the user regains internet access. This brings unique challenges in file size optimization, data storage methods, and efficient caching solutions.

Moreover, implementing highly scalable cloud infrastructure is essential to prevent downtimes or system failures due to erratic power conditions in certain parts of Africa. Localized server farms and cloud technologies offered by global giants like AWS and Microsoft Azure have expanded into the continent, which helps reduce latency and improve reliability for users spread across the developing cities of Johannesburg, Lagos, and Nairobi.

Ongoing Maintenance and Updates 

Once an app like Luno is live, ongoing maintenance becomes an essential recurring cost, especially in Africa, where diverse infrastructures require continual adaptations. Regular updates, testing, and troubleshooting ensure that the app remains usable under varying internet access, hardware, and power reliability conditions.

Mobile carrier fragmentation and inconsistent internet reliability further complicate maintenance in Africa. With users accessing data via various mobile carriers or working with offline features, developers must regularly track and optimize the app for compatibility, ensure that bug fixes are rolled out in diverse regions, and iterate designs based on how user issues arise in specific local contexts.

Moreover, with changing cryptocurrency regulations across African markets, the Luno app must continuously update payment channel compatibility, transaction regulations, and security protocols tied to new government mandates. This form of ongoing compliance maintenance represents a distinct ongoing cost.

Lastly, the growth of data infrastructure in Africa presents challenges and opportunities. As more users move to 4G and 5G networks, developers may have to release new, optimized app versions to take advantage of the latest technologies while ensuring that previous versions are backward-compatible for those still on older systems.

Team Expertise and Location 

Africa's tech talent pool has significantly grown in recent years, especially in countries like Nigeria, Kenya, and South Africa, which are known for producing high-quality developers specializing in mobile-first and custom app development. Hiring locally has many upsides, as African developers possess an astute understanding of data constraints, infrastructure reliability, and local regulations—critical factors in determining the app's practicality for African end-users.

For example, local developers, often stationed out of Lagos or Nairobi, have hands-on experience addressing African consumer behaviors and designing data-conscious apps. They bring unique know-how on integrating fintech options and developing frugal app solutions to provide maximum results with limited resources.

However, deciding whether to hire local developers or outsource to international teams impacts costs significantly. International experts may charge higher fees, especially when unfamiliar with localized issues (e.g., handling M-Pesa integrations or understanding local telecom infrastructures). However, depending on the app's ultimate goals, the decision to work with purely African talent or a blend of local and international contractors can balance cost and expertise.

Finding teams experienced in low-latency design and adept at constructing offline features (for regions with poor connectivity) significantly impacts app development costs. Still, it may result in future savings and a more successful product.

Hidden Costs & Miscellaneous Factors

Data and Connectivity Constraints: As most rely on 3G or intermittent 4G, developers of apps like Luno have to account for the connectivity hardships users encounter. The cost of ensuring functionalities that can operate in offline or low-speed environments suddenly becomes more apparent, requiring optimization features such as synchronization mechanisms, data compression, and progressive web technology. As more mobile users move to 4G networks, ensuring future scalability adds incremental but necessary costs.

Mobile Payment Integration: Each African country typically has a preferred local payment provider, like M-Pesa in Kenya or Airtel Money in parts of East Africa. Integrating multiple mobile money platforms often requires working with fragmented APIs, adding to development complexities and costs. Additionally, ensuring compliance with each provider’s security standards and sometimes governing transaction limits impacts the initial development and subsequent management.

Legal and Compliance Considerations: With Africa’s fintech regulations constantly evolving, legal and compliance costs are rising. The Protection of Personal Information Act (POPIA) in South Africa, for example, ensures strict data protection practices, which require legal advice, strict development protocols, and ongoing audits that will inflate app development costs. Other regulatory frameworks in Nigeria, such as cryptocurrency restrictions, require ongoing amendments to stay current.

What Makes the Financial App Category (Luno) Unique in Terms of Development for Africa?

Financial apps such as Luno present unique challenges that vastly differ when developing for African markets instead of Europe or Asia. One key reason is Africa’s fast-growing but highly fragmented financial infrastructure. While there’s enormous demand for efficient and accessible financial services—especially for investments and trading in digital currencies—each country approaches mobile money, fiat, and cryptocurrency in very different ways, and each market often uses different payment gateways that must continually be updated as new players emerge.

Additionally, African governments are increasingly regulating cryptocurrency usage and taxation, meaning any app facilitating crypto trading must be agile enough to adapt to new legal frameworks in Africa’s most populous nations, such as Kenya and Nigeria. These legal frameworks may differ significantly across regions, impacting app cost and complexity.

Apps like Luno must account for the urban/rural technological divide to operate successfully in Africa. While fintech services are highly appreciated in metropolitan areas like Lagos or Johannesburg, rural penetration is slower due to less internet reliability and lower cryptocurrency use. Hence, apps must be designed to have offline features accessible wherever payment processing is impossible in real time.

Mobile payment systems are built on local financial ecosystems, such as Mobile Money, not bank accounts or credit card networks. Hence, Luno must smoothly integrate localized currency systems alongside global crypto marketplaces—considerations not present in established markets like Europe or North America. These structural differences require diligent planning during custom app development, driving up costs accordingly.

Want to bring a mobile-centric, scalable app to the African market? 

At Scrums.com, we understand the specific demands across African regions, from payment solutions to optimizing apps for low connectivity zones. Let's discuss a custom estimate for your app designed with African users in mind! Get a free consultation with our African market experts today.