The need for mobile applications is constantly flourishing as users can avail themselves of their tasks effortlessly. In general, there are a vast number of mobile apps, each holding different purposes. According to Statista, 4 million apps are present in the Play Store and App Store.
How to Create an On-Demand Super App like Gojek?
Though the Play Store is stuffed with millions of apps, we generally stick with a few apps for our daily usage. What if there is a single app that provides multiple online services?
These single apps are called, “Super apps” and they are the one-stop app solution that provides varying online services.
Here, we will look at the purpose of Super apps, application development, benefits, revenue model, and types of services you can offer through the app.
An Outline on the Super Apps
A Super app is a consolidation of multiple apps that offer different services. For example, a Super app may contain ride-hailing, food delivery, grocery delivery, medicine delivery, and many other services.
There are many advantages of using the Super apps and one among them is the storage space. Generally, users face the problem of insufficient storage space, which results in deleting a few apps.
With Super apps, users can save the storage space considerably, as they will use the single app for all types of services. To add more spark to this content, let us navigate to the top players in the field of Super apps.
Masters in the Field of Super Apps
The urge for multi-services app development among businesses sprouted from apps like Gojek, WeChat, etc., who are pioneers in the field of Super apps. Gojek is an Indonesia-based Super app that offers different types of on-demand services.
Gojek – An Indonesia-Based Super App
Initially, in the year 2010, Gojek was formulated as a call center company for bike taxi and courier delivery services. Later in the year 2015, the company added four more services which include ride-hailing, online payment, food delivery, and online shopping. As of now, the company offers 20+ on-demand services in different fields such as transportation, food delivery, payments, entertainment, etc.,
WeChat – Chinese-Based Super App
Again, WeChat is a multi-purpose app that is proudly called the “app for everything” in China. The app holds a range of services like messaging, food ordering, payments, and an array of many other services to accumulate the growing on-demand economy.
As of the year 2020, WeChat had over 1.2 million users of different age groups. While an app provides different types of online services, how come users will refuse the app? The idea of upgrading WeChat into a multipurpose app from a messaging app led to an increased user base within a short span.
Benefits Of Developing A Super App Like Gojek
Since Super apps accommodate different services, you will get increased visibility for your business. Also, the secret to increasing the visibility of the app is to include as many services as possible. Keep in mind to include services that are in demand according to the demography.
Adopting a super app solution will assure increased revenue to your business. Since you collaborate with multiple vendors or service providers, you will get commission amounts from each of them, which will increase your overall revenue. Other than revenue from the commission, you will also gain revenue from advertising. Different vendors or third parties will collaborate with you to showcase ads on their services.
In general, businesses aim at gaining higher visibility in a short time, right? With the multi-services app development, you can achieve visibility and gain massive revenue easily.
Next, we shall see the benefits you can provide your users by launching the multi-services app.
Perks Your Users Will Tuck In
With your Super app, users don’t have to juggle between different mobile apps for different services. They can utilize your app for availing multiple services.
No more shortage of phone memory as the purpose of installing multiple apps is eliminated by your Super app.
Without any doubt, users expect services at unbeatable prices. With Super apps, chances of availing services at better prices are high as multiple vendors will compete with each other to grab users. Therefore, users will definitely have the advantage of better pricing through your app.
- Different payment methods
Nowadays, apps come with different options for making payments. Gojek like app provides various payment options that grabs the traction of users. Therefore, if you include multiple payment options, it will be another advantage for your users.
In the next section, you will grab insights on the Gojek like app development.
Preliminary Stages Involved Before Rolling Out Super App Like Gojek
Well, before stepping into a business, it is important to know your audience. Because your business solutions are ultimately going to reach out to the end-users. Hence, a proper target audience analysis is a must.
In order to find out your target audience, you must analyze their demographics. Demographics include details like age, country, education, income, etc.; based on these details, you can focus on sorting out your audience. One of the common ways to find out the target audience is to prepare a questionnaire or an online survey. Other than online surveys, you can also monitor the user base of the competitors and analyze how you can attract them to your business.
It is important to adopt a business model that fits your budget and requirements. For example, Gojek employs a three-sided business model that links customers, delivery persons and service providers. Firstly, the customers will send the service request. The request will be mapped to the service provider. After the service gets ready, the delivery person will dispatch it to the customer. Some of the common types of business models include
- Business-to-Business or B2B
- Business-to-Consumer or B2C
- Consumer-to-Consumer or C2C
To sustain in a business and constantly acquire users, it is highly important to infuse something new into your business. Some of the current trends employed in the on-demand services businesses are contactless delivery, delivery through drones, store pick-up, scheduling delivery services, etc.,
Only by incorporating the current trends into your business, you can keep your business afloat.
App development is a crucial part of your business. The features and functionality of your app will decide the user base and the success of your business. So, you must give high importance to app development.
While developing an on-demand multi-services app, you must pay closer attention to the features and the user interface. Since this is a multi-services app, your users must be able to access any number of services without any issues.
Next comes the feature set of your app. In general, the features of the app will give the best possible experience for your users. Therefore, the selection of features is highly important. We will look at the list of features that are highly necessary for your multi-services app in the next section.
While it comes to multi-services app development, it is a wise choice to adopt the Gojek clone. The specialty of the Gojek clone is that it is a ready-made app and you can make any type of customizations.
Hire service providers and delivery persons
One of the feasible ways to hire service providers for your business is by shortlisting them from freelance websites. You can filter the type of service providers and search for them. Once you have recruited the service providers, you will have to look out for delivery persons.
Try to set up your on-demand business one city at a time to avoid confusion. If your budget permits, you can employ full-time delivery persons. Otherwise, you can employ part-time delivery persons. Other than directly recruiting delivery persons, you can also contact agencies to hire delivery persons.
Crucial features to be considered in your super app like Gojek
The scheduling feature is popular among on-demand services apps. If a user wants to avail of the service at a particular time, then he/she can opt for the scheduling feature.
Tracking is the essential feature that helps users in knowing the exact status of their orders.
The expected arrival time will help your users to know the time of the delivery service. To know the expected arrival time, users will have to enter the location details.
In general, delivery persons may find it difficult to find the exact location of the customers. In order to help them in finding the route, the app has an inbuilt live navigation system.
The delivery person will have to enter the location of the customer and the live navigation system will guide the delivery person.
Revenue channels of the multi-services app
- Commission charges
- Delivery charges
- In-app advertising
Through this detailed explanation of Super apps, you have learned how they can fetch you multiple benefits. From the statistics and other insights, you have realized the need to develop an app like Gojek.
Highly interested in venturing into the multi-services business? This is the ideal time to do so. Good luck.
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!