How to Develop a Social Saving App Like Hakbah?

In an age where fintech innovations are reshaping the way we save, spend, and invest, social saving apps are emerging as a powerful tool for financial inclusion and community-based finance. One standout example in this category is Hakbah, a Saudi-based platform that has modernized the traditional Jamiya (rotating savings group) system through a secure, AI-powered mobile app. For businesses and entrepreneurs looking to tap into this growing market, Hakbah app clone development offers an opportunity to replicate its core features automated contribution tracking, AI-based credit scoring, and secure group management while customizing the platform to target new regions or niche audiences.

These platforms allow friends, families, or communities to contribute fixed amounts periodically and take turns receiving the pooled sum — a centuries-old method now made more transparent, efficient, and accessible with technology.

If you’re an entrepreneur or developer looking to tap into this growing market, developing a social saving app like Hakbah could be both a lucrative and impactful venture. This guide will walk you through everything — from understanding its working model to features, monetization, costs, and the step-by-step development process.

Hakbah App clone development Stats

Before we dive into development, let’s glance at Hakbah’s impressive track record:

• Founded: 2019
  
• Headquarters: Riyadh, Saudi Arabia (with a presence in Dubai’s DIFC FinTech Hive)
  
• Users: Over 1.2–1.3 million, 70% being youth
  
• Platform: Available on iOS, Android, and Official Website
  
• Recognition: Named one of CNBC’s “World’s Top Fintechs in 2025”
  
• Regulatory Status: Operates under the Saudi Central Bank’s regulatory sandbox
  
• Funding: Raised over USD 9 million
  
• Average Ratings: 4.6–4.7 on iOS; ~4.0 on Android
  
• Core Market: Primarily Saudi Arabia, with potential expansion to other GCC countries

These figures underline the demand for such platforms and prove that a well-designed, compliant, and secure app can gain massive traction.

Key Highlights of Hakbah App clone development

What makes Hakbah stand out from a sea of fintech apps? Here are its standout features and achievements:

1. Digitization of a Cultural Tradition – Hakbah transforms the age-old concept of Jamiya into a seamless, regulated digital experience — preserving the social trust aspect while eliminating manual management hassles.
   
2. AI-Powered Savings Optimization – The app uses artificial intelligence to recommend the best saving plans based on a user’s spending habits, financial goals, and history.
   
3. Full Regulatory Compliance – Licensed under the Saudi Central Bank’s sandbox and ISO-27001 certified, it assures users of data privacy and banking-grade security.
   
4. Multiple Payment Options – Contributions can be made via Mada cards or Apple Pay, with payouts sent directly to Saudi bank accounts.
   
5. Flexible and User-Friendly – Members can prepay contributions, control payout months, or request grace periods — making the system adaptable to real-life needs.
   
6. Recognition & Trust – Being recognized by global outlets like CNBC adds credibility and positions the app as a leader in fintech innovation.

How Does Hakbah Work?

At its core, Hakbah operates like a traditional rotating savings and credit association (ROSCA) but with a tech twist. Here’s the flow:

1. Registration & Verification – Users sign up using their Saudi national ID or Iqama. Their identity is verified through government databases, and a Sanad certificate is issued.
   
2. Group Creation or Joining – A user can either join an existing Jamiya or create a new one in under two minutes. Invitations can be sent via SMS, email, or app links.
   
3. Monthly Contributions – Every member contributes a fixed monthly amount, which is automatically deducted or paid manually via supported payment methods.
   
4. Payout Rotation – Each month, one member receives the entire pooled sum. Users can choose their preferred month for payout when joining.
   
5. Safety Nets & Extra Features – Options like “Emhal” (grace period), early settlement, and solo Jamiya plans offer flexibility for unexpected financial circumstances.

Why Invest in Hakbah clone development?

There are multiple reasons why developing a similar platform could be a high-return investment:

• Untapped Market Potential – While the concept of group savings exists in many cultures — from chit funds in India to Ayuuto in Somalia — few regions have digitized it at scale.
  
• Financial Inclusion – These apps help the underbanked or those with limited access to formal loans save efficiently and access lump sums when needed.
  
• Recurring Revenue Model – Monthly contributions and transaction fees ensure steady income streams for the platform.
  
• Government Support – In countries aiming for cashless economies and higher financial literacy, such apps align with national fintech visions (e.g., Saudi Vision 2030).
  
• Scalability – Once the app gains traction in one market, it can be adapted for others with minimal tweaks.

Basic Features to Include in Hakbah Like App Development

When developing a social saving app like Hakbah, the foundation lies in its basic features. These core functions ensure users can register securely, manage their contributions, and track payouts with ease. Building them well ensures user trust, regulatory compliance, and a seamless experience right from the first login.

User Registration & KYC Verification

A secure registration process is vital for onboarding new users. Integrating Know Your Customer (KYC) verification ensures each participant is a legitimate user, reducing fraud. Users can register via email, phone, or social login, and complete KYC using national IDs, passports, or other accepted documents through automated or manual verification systems.

Profile Management

Once registered, users should have access to a personal dashboard where they can update details, change payment preferences, upload identification documents, and view their participation history. A clean, intuitive profile section encourages users to keep information accurate, ensuring smoother transactions and compliance with anti-fraud measures.

Create/Join Group Saving Plans

The heart of the app is the ability to either create a new group savings plan or join an existing one. Users should be able to define contribution amounts, group sizes, payout months, and duration. Invitations to join can be shared through SMS, email, or app-generated links.

Automated Payment Scheduling

Automated payment scheduling removes the hassle of remembering due dates. The app should allow users to set up recurring payments via bank accounts, cards, or mobile wallets. This reduces defaults, keeps the group savings cycle uninterrupted, and offers convenience, especially for those managing multiple financial commitments.

Real-Time Notifications

Push notifications, SMS alerts, and in-app reminders keep users informed about upcoming contributions, successful payments, and payout dates. Real-time communication builds trust and engagement, while also reducing missed payments and disputes. Notifications can also be used to promote offers or announce new group saving opportunities.

Payout Management

A robust payout system ensures that funds are transferred securely and promptly to the designated member’s account. Users should be able to select their payout month during group creation and track the status of their payment from initiation to completion, with alerts at every stage of the transfer.

Transaction History

Transparency is key in financial applications. A detailed transaction history lets users review all past contributions, payouts, and any additional charges or fees. Filters for date ranges, group plans, and transaction types make it easy to audit activities and maintain financial records for personal or regulatory purposes.

Bank Account Linking

Securely linking bank accounts ensures smooth payment processing and payouts. The app should integrate with local payment systems and banks, offering options like instant transfers, scheduled debits, and real-time balance checks. Strong encryption and tokenization protect sensitive banking information from breaches.

Basic Support/Help Center

Even the most intuitive app needs a support system. A basic help center can include FAQs, troubleshooting guides, and a contact form. Integrating chatbot support or a ticketing system ensures that users can quickly get answers and resolve issues without disrupting their saving plan participation.

Advanced Features to Include in Hakbah App Clone Development

Advanced features are what transform a standard social saving app into a competitive, high-value platform. These enhancements improve user engagement, security, and convenience, while also adding a professional edge. They help differentiate the app from competitors and provide a richer, more satisfying experience for both new and loyal users.

AI-Driven Risk Assessment

AI algorithms can analyze user behavior, payment history, and demographic data to predict the risk of default. This helps group creators make informed decisions when approving members. By detecting potential red flags early, the app ensures smoother operations and minimizes disputes or financial losses within saving groups.

Gamification Elements

Gamifying the savings process keeps users motivated. Features like achievement badges, leaderboards, and progress bars turn contributions into engaging milestones. This not only increases user retention but also encourages timely payments, as participants compete in a friendly way to maintain a strong standing within their group.

Multi-Currency Support

For users operating across borders, multi-currency support is invaluable. The app should automatically convert contributions and payouts into the user’s preferred currency based on real-time exchange rates. This feature opens the platform to a wider audience and supports expatriates, freelancers, or families contributing from different countries.

Instant Loan Access Based on Savings

Allowing users to access micro-loans based on their contribution history offers an additional safety net. If someone faces an emergency before their payout month, they can borrow against their savings. This feature boosts loyalty and keeps members financially stable without disrupting the group cycle.

Integration with Mobile Wallets & Payment Gateways

Seamless integration with mobile wallets like Apple Pay, Google Pay, Paytm, or local fintech solutions makes transactions effortless. Offering multiple payment gateways ensures flexibility, accommodates user preferences, and enhances adoption rates, especially in regions where traditional banking is less accessible.

Advanced Analytics Dashboard

An analytics dashboard offers deeper insights into personal and group savings performance. Users can view trends, contribution patterns, and payout histories in interactive charts. This data-driven approach empowers better financial planning and promotes transparency across all group members.

Social Sharing & Referral Programs

Integrating social sharing lets users promote their saving groups or invite friends via WhatsApp, Facebook, or email. Adding referral rewards — such as bonus payouts or reduced fees — incentivizes users to bring more participants onboard, increasing the app’s reach organically.

Automated Dispute Resolution System

Conflicts can arise over missed payments or payout delays. An automated dispute resolution tool collects evidence from transaction logs, communication threads, and group rules to help resolve issues fairly. This minimizes admin intervention and fosters trust between group members.

Biometric Authentication

Adding fingerprint or facial recognition login ensures top-tier security while providing convenience. Biometric authentication prevents unauthorized access to sensitive data and transactions, which is especially crucial in financial applications where user trust is paramount.

Custom Group Rules & Privacy Settings

Allowing group creators to set custom rules — such as maximum missed payments allowed or mandatory verification steps — gives them more control. Privacy settings can restrict group visibility to invited members only, ensuring a secure and personalized savings experience.

A Detailed Comparison of Hakbah and What We Develop:

Feature Category	Hakbah	Your Planned App (Proposed)
Core Concept	Digital Jamiya platform for group savings	Same concept, but customizable for multiple cultures (ROSCA, chit funds, Ayuuto, partner savings)
User Verification	KYC via Saudi national ID/Iqama, Sanad certificate issued	KYC via national IDs, passports, or regional equivalents; API integration for global verification
Payment Methods	Mada cards, Apple Pay, direct bank transfer	Local payment methods + PayPal, debit/credit cards, mobile wallets for broader reach
AI Savings Engine	Suggests saving plans based on user habits	Advanced AI with predictive analytics for payout optimization and default risk scoring
Payout Scheduling	User selects preferred month during joining	Dynamic scheduling that adjusts based on financial health and preferences
Solo Saving Plans	Yes, with cashback rewards	Yes, with tiered interest/cashback rates and goal-based tracking
Grace Period Feature	“Emhal” to delay payment without penalties	Same, plus partial payment options and penalty customization
Early Settlement	Available in some plans	Available with auto-adjusted group payouts
Security & Compliance	Licensed under SAMA sandbox, ISO-27001 certified	Complies with target region’s central bank rules, SOC 2 Type II & ISO certifications
Platform Availability	iOS & Android	iOS, Android, and Web Portal
Languages	Arabic & English	Multi-language with auto-detection
Community & Engagement	Basic group interaction via notifications	In-app chat, forums, and gamified savings challenges
Support	In-app help and contact forms	24/7 live chat + AI chatbot support

Monetization Models for Hakbah app clone development

A well-planned monetization strategy ensures your social saving app remains sustainable while delivering value to users. The goal is to balance revenue generation with user satisfaction. Multiple income streams can be integrated without making the platform feel intrusive, ultimately boosting profitability while keeping the savings experience smooth and user-friendly.

Transaction Fees

Charging a small fee for every transaction is one of the most straightforward monetization methods. This can be applied to contributions, withdrawals, or both. While the amount is typically minimal, high transaction volumes from multiple users can generate significant revenue over time, making this a steady and predictable income stream.

Subscription Plans

Offering premium subscriptions gives users access to advanced features such as detailed analytics, priority customer support, or higher payout limits. This tiered model caters to both casual savers who want a free basic plan and serious users willing to pay for enhanced control and flexibility.

Interest on Pooled Funds

While funds are pooled before payouts, they can be temporarily held in interest-bearing accounts. The interest earned becomes an additional revenue source for the platform. This model works best when transaction volumes are high and the funds are securely managed to maintain user trust.

In-App Advertisements

Displaying targeted ads from financial institutions, fintech products, or lifestyle brands can be lucrative. Ads should be non-intrusive and well-placed so they do not disrupt the user experience. With proper targeting, ads can even add value by showcasing relevant offers or financial tools to users.

Affiliate Partnerships

Partnering with banks, insurance providers, or investment platforms allows you to promote their services within your app. When users sign up through affiliate links, your platform earns a commission. This approach works particularly well if the partnered services complement the savings experience.

White-Label Licensing

You can license your app’s technology to other businesses or organizations under their own branding. White-label solutions are in demand among microfinance institutions, cooperatives, and community savings groups that prefer a ready-made, customizable app without developing one from scratch.

Micro-Loan Service Charges

If your app offers instant loans against savings, charging a small processing fee or interest rate can generate revenue. Users benefit from quick access to funds during emergencies, while the platform benefits from an additional monetization avenue that complements its core savings function.

Premium Group Management Tools

Large savings groups, especially those run by institutions or communities, may require more advanced tools — such as multi-admin roles, automated reminders, and detailed reporting. Charging for these premium group management features ensures that power users help sustain the platform financially.

Step-by-Step Development Process for Hakbah app clone development

Building a social saving app requires a structured, step-by-step approach to ensure reliability, scalability, and security. From understanding the target audience to post-launch optimization, each phase plays a critical role in delivering an app that not only works seamlessly but also builds trust and drives consistent user engagement.

1. Market Research & Concept Validation

The first step is understanding user needs, market trends, and competitor offerings. Conduct surveys, interviews, and competitor analysis to identify unique features that can set your app apart. Validating your concept early ensures you are solving a real problem and targeting the right audience before investing in Hakbah app clone development.

2. Defining Core Features & User Flow

Outline the essential features your app must have, such as group creation, payment integration, and withdrawal scheduling. Map out the user journey from onboarding to savings withdrawals. A clear feature set and flowchart guide to Hakbah app clone development and prevent costly changes later in the process.

3. Choosing the Right Technology Stack

Select a technology stack that supports scalability, high performance, and robust security. For example, React Native or Flutter for cross-platform apps, Node.js for the backend, and AWS or Google Cloud for hosting. The right tools can drastically reduce development time while improving long-term maintainability.

4. UI/UX Design

A clean and intuitive design enhances user adoption. Wireframes and prototypes help visualize the user interface, while usability testing ensures smooth navigation. Prioritize accessibility, responsive layouts, and engaging visuals to make saving money feel simple, collaborative, and rewarding.

5. Backend Development & API Integration

The backend manages user data, transactions, and group savings logic. APIs enable secure payment processing, user authentication, and third-party integrations. Choosing a modular architecture ensures that features can be upgraded or added without disrupting the entire system.

6. Frontend Development

The frontend brings the design to life. It should load quickly, respond smoothly to user interactions, and work consistently across devices. Using modern frameworks helps create a seamless, engaging experience that encourages users to return and contribute regularly.

7. Security Implementation

Security is critical in financial apps. Implement data encryption, multi-factor authentication, and fraud detection systems. Regular vulnerability testing and compliance with financial regulations help maintain user trust and safeguard sensitive information.

8. Testing & Quality Assurance

Thorough testing ensures your app is bug-free and performs well under different conditions. This includes functional testing, usability testing, performance checks, and security audits. Identifying and fixing issues early prevents costly problems after launch.

9. Launch & Deployment

Release the app on platforms like Google Play and the App Store. A soft launch can help gather feedback from a smaller audience before going public. Use analytics tools to monitor initial usage and quickly address any issues.

10. Post-Launch Support & Updates

After launch, maintain regular updates to fix bugs, add new features, and improve performance. Actively gather user feedback to refine the app experience. Continuous improvement keeps the app relevant and competitive in a fast-changing fintech market.

Cost to Hakbah app clone development

The cost of building an app like Hakbah depends on complexity, region, and feature set. Here’s an estimate:

• MVP Development: $25,000 – $50,000
  
• Full-Featured App: $70,000 – $150,000
  
• Ongoing Maintenance: 15–20% of development cost annually

Factors affecting cost include:

• Number of platforms (iOS, Android, Web)
  
• UI/UX complexity
  
• Backend infrastructure & security needs
  
• KYC and payment gateway integration
  
• AI feature development

Team Structure for Hakbah Clone Development

To develop a robust, secure, and scalable app, you’ll need:

• Project Manager – Oversees timelines and communication
  
• Business Analyst – Translates requirements into development plans
  
• UI/UX Designer – Crafts the user interface and experience
  
• Mobile Developers (iOS & Android) – Build the apps
  
• Backend Developers – Create APIs, manage databases, and integrate payments
  
• AI/ML Engineer – Develops recommendation algorithms
  
• QA/Test Engineers – Ensure quality and bug-free performance
  
• DevOps Engineer – Manages deployment and scaling
  
• Compliance Officer – Ensures legal and regulatory adherence

Conclusion

Building a social saving app like Hakbah requires a deep understanding of both technology and cultural finance traditions. By blending trust, security, flexibility, and AI-driven personalization, such platforms can serve millions, promote financial discipline, and open up new monetization opportunities. The key is to ensure the app remains user-friendly, secure, and aligned with regulatory requirements.

FAQs about Hakbah Like App Development