Expertise

Fintech software development services

We create secure and scalable fintech software with user-friendly interfaces.

Services we offer

Fintech software development

We build fintech software like neobank apps, insurance apps, investment and trading platforms, crypto apps, and simple money transferring apps from scratch.

Code audit

If you have any problems with your fintech app, we can perform a manual code review and use automatic solutions like SonarQube Analysis and IntelliJ IDEA Code Inspection to figure out any issues in the code.

DevOps services

We provide DevOps services on a subscription basis to help you automate your fintech software development processes, improve the software quality, roll out updates with minimum downtime, and maintain your product.

AI integrations

As a development company, we can integrate an AI model into your fintech software, create a chatbot, or train a model for your business tasks.

UI/UX design

Creating an interface is part of our fintech software development services. However, we can design an interface for your fintech app separately if you plan to work with another development company.

The process of fintech software development

  • 1
    Initial call
    We start by analyzing your requirements, business needs, and expectations for the future product. The project manager creates the fintech app development project breakdown and estimates the time required for creating the design and approximate time for the app development.
  • 2
    Technical consulting
    An important step in fintech development is choosing a banking as a service solution (BaaS). As a development company, we can study what different providers offer, their APIs, what functionality they can cover, and assess from a technical point of view whether they fit the software development project. After that, you will need to negotiate with the providers to choose the one to work with.
  • 3
    UI/UX design
    While you negotiate with BaaS providers, we start our fintech software development services with designing the interface. Our designers do everything from thinking through the app’s logic and creating the screens to making the interface good-looking and reflecting your brand image. We also provide a UI-kit for further app development.
  • 4
    Software development
    We start product development with building the architecture with security and scalability in mind. Working in 2-3 week sprints, we deliver tangible results by the end of each iteration. To test the fintech software, we run automatic tests and use error-tracking tools.
  • 5
    Support after the release
    Our fintech software development services don’t stop after we finish the project. We help you publish the app to the stores in case of mobile app development or deploy the app to the production environment in case of web development. After that, we continue to support your fintech software — add new features and fix bugs.

Fintech solutions we’ve created

Trading platform, Nigeria

React Native, Laravel, AWS Kubernetes

This is a trading platform that lets users purchase assets on the Nigerian stock market and invest in mutual funds. Initially, our client had a working fintech app that had problems with both design and technical implementation. Their previous software development partner failed to deliver the needed results. It not only damaged the user experience and the company’s reputation but could also lead to serious consequences for business. The client requested us to conduct an app audit and stayed with us for a further rebuild of their mobile banking app.

Challenges

The audit revealed the codebase of both the mobile banking app and backend systems had several critical issues, including high-severity bugs, low test coverage, complex code structures, and security vulnerabilities. In such a scenario, refactoring wouldn’t provide the desired results, and we recommended a complete rewrite instead. As for the design, we figured that the interface was messy and lacked consistency.

Solutions

We simplified the interface, made all the components aligned with each other and got rid of the clutter. Our main goals for the fintech app development were to:

  • Build a safe, flexible and reliable infrastructure using Kubernetes
  • Implement KYC measures using local services
  • Establish a high level of automation to ensure short time-to-market
  • Build new processes for the client’s in-house team of to build a long-term sustainable fintech software development process that will produce the expected result

Local laws

To get stock exchange data in real time, we used the NGX group API. It’s a leading integrated market infrastructure in Africa that oversees the operations of the Nigerian financial market.

To implement KYC, we used a Nigerian service called NIN token — the solution lets us check users’ data in a secure way, sending it encrypted. To pass KYC, a user fills out a questionnaire, specifies their bank verification number (BVN) and phone number, takes a photo with their ID card, then the application sends the data to the local government service, the service checks everything and sends the user a text message with the results. After that, the user fills out a questionnaire about their experience with financial instruments and the fintech app creates their risk profile — it’s required by the Nigerian laws.

Results

The project went into production back in November, then we started a closed beta test — the application had live users, they opened their cards and made transactions, but the app wasn’t published in the App Store. The app was approved in the store in April and now any user can download it. Fow now, our client's marketers are thinking over a strategy for how they will catch up with new users. 1,285 accounts have already been created — these are live users who have passed verification.

We continue to work on the project and provide our fintech software development services, the app is constantly changing and being upgraded.

Neobank app, USA

React Native, Laravel, Cloud SQL

This is a neobank fintech software that helps US residents get a higher credit rating or just get a card and use it. The client contacted us for app development and UI/UX design — our task was to create a simple and attractive interface, build a stable and secure system and protect users' financial data.

Tasks

  • Implement KYC measures
  • Integrate the fintech software with Bond, a Banking as a Service (BaaS) solution that connects to major US banks
  • Build a microservice architecture to separate our client’s isolated processes
  • Ensure a high level of security and data privacy
  • Take local regulations into account

Solutions

We use Persona KYC to verify the identity of new users through checking their SSN and ID, ensuring that the users are who they claim to be. Simultaneously, Sardine KYC runs fraud detection checks to ensure the new users are not associated with fraudulent activities or risky behaviors. Once the users pass the KYC checks, we use Bond BaaS to create and manage bank accounts, issue cards, and enable financial transactions via its banking APIs.

Local laws

For this app development project, we need to certify the app with SOC 2 — it ensures that the service follows strict information security policies and procedures required for US financial services. Our team has already passed the certification and now we wait until the bank’ team will be certified. Other important standards that needed to be considered were PCI DSS and ISO/IEC 27001.

We’ve already got access to the App Store and passed the review, it confirms that the app meets all the important requirements and we have no problems with law.

Results

The project went into production back in November, then we started a closed beta test — the application had live users, they opened their cards and made transactions, but the app wasn’t published in the App Store. The app was approved in the store in April and now any user can download it. Fow now, our client's marketers are thinking over a strategy for how they will catch up with new users. 1,285 accounts have already been created — these are live users who have passed verification

We continue to work on the project and provide our fintech software development services, the app is constantly changing and being upgraded.

Neobank app, UAE

Recently, we started a new fintech software development project with a client from UAE. They requested us to create a mobile neobank app from scratch. Thanks to the experience with the previous neobank project, our software development company was able to provide analytics services:

  1. Helped to determine the type of program (credit/debit/CDA cards), and the type of planned investment app (crypto/fiat).
  2. Helped to determine the criteria for choosing BaaS, indicating what our fintech software developers need. Explained which BaaS is a perfect match, which one is fine and which one definitely shouldn’t be used.
  3. Made an Impact Map to understand where to start the software development from.
  4. Identified a scope of features for the first version, and compiled a roadmap.
  5. Estimated the costs and timeline for the design stage according to the scope. The app development stage was estimated approximately, we will make a precise estimate after the design stage is finished.

Now the project is successfully moving to the UI/UX design stage. We plan to finish the design by the time our client signs the contract with the selected BaaS — now the client's legal team is negotiating with different providers.

Why us?

Security and data privacy

First of all, as a fintech software development company, we don’t interact with user’s finances or personal information. In terms of money, we rely on bank providers which have the legal power to perform financial operations. Our task is to create an app that will act as a mediator between users and the bank. The basic security and data privacy is provided by the service on which our servers are running — usually it's either Amazon or Google. These services comply with PCI DSS security standards. Our CI/CD instruments are GitLab and ArgoCD which also follow these standards. Laravel, our software development framework implements protection against such vulnerabilities as DDoS attacks, SQL injections, and CSRF by default.

Approaches we use for security:

In the field of fintech software development, it’s necessary to build a flexible infrastructure so that in case of troubles we can always take a step back. We create backups and use an approach called ‘Infrastructure as Code’ to make the system able to deploy automatically, even from the ground. In case of a security breach or data center outage, we'll be able to quickly revert the system to a previous version and our clients won't lose data or reputation.

As a development company, we also use approaches such as least privilege approach and fine grained access. They help us to limit access of team members to specific parts of the project — only the DevOps engineer and team leaders have access to the production environment, while deployment happens automatically.

Other measures:

Storing all access keys to various services, databases, etc. in GitLab environment variables which can be accessed only by maintainers.

Covering all system tools like admin panel, if there is one, Argo CD, Laravel Telescope, API documentation, with a project VPN. It protects the project against potential threats from unsecured networks.

Using third-party authentication services like Auth0 which complies with PCI DSS, GDPR, SOC 2, ISO27001 and other security standards.

Covering more than 95% of key modules by automated tests.

Setting rules for users' access to specific requests to limit requests that users can call and data they can receive

Validating the input data of requests

Microservice architecture:

Fintech startups often have isolated processes that shouldn’t depend on each other. In these cases, we choose to build a microservice architecture. First of all, it’s more flexible and stable — if one service fails, others are working, and the application does not stop. Further, it adds an extra layer of protection. Each microservice has a separate database that only stores the data needed for the operation of this particular service. This is diversified data, so even if an intruder gets access to one database, it will give them nothing, because this data doesn’t make sense without context.

Scalability is another requirement for financial software development, and microservices allow to scale specific services based on demand rather than scaling the entire application. Scaling actions in one service don’t directly affect others. It’s also possible to distribute instances of a microservice across multiple servers to handle increased load. Usually, we use Kubernetes as a container orchestration tool to automatically scale microservices up or down based on real-time traffic and performance metrics.

Considering regional specifics

Usually, each BaaS has a description of which regions it works in, we pay attention to this. For example, we can’t use a European BaaS for a UAE project, since there are both technical and legal nuances. As a development company, we can research BaaS solutions tailored for specific regions and collect a pool of solutions that can be suitable for your project technologically. Also, we always research the documentations of other third-party solutions we use to make sure that they are suitable for a particular region.

Ensuring fast time to market

Fintech applications need a short time to market. Such businesses roll out app updates very often — it can mean releasing every 3 days. Time to market strongly depends on the infrastructure and how the work is organized initially. We can work with your internal team and help them build new processes to organize a sustainable fintech software development process that will allow you to issue updates needed for the business quickly enough. Another important factor is quality assurance — testing the app manually every time is a huge amount of work and without a high level of automation it’s just impossible to test everything. Using the test-driven development approach, we automate the testing process and ensure 95% test coverage.

Avoiding vendor lock-in

In every app development project, we use reliable and well supported open-source solutions. This way, we avoid a vendor lock-in for our clients. Vendor lock-in occurs when a customer becomes dependent on a particular vendor for products or services, making it difficult to switch to another provider without spending significant time and costs. Moreover, the app code with all configurations is entirely in the ownership of our client. It means that you’re not tied to us as a fintech software development company and we can’t block the product’s progress or interfere with your business in any way.

Technologies we use in fintech software development

Our basic tech stack allows us to cover a wide range of needs for different custom software development projects.

Web development

React

Laravel

NextJS

Mobile

React Native

Infrastructure

Kubernetes

Security

GCP

AWS

Azure

RDS

Cloud SQL

Auth0

Сloudflare

GitLab

Vanta

What our clients say about us

Numbers
1870
reviews
across 5 platforms
Top 50
app development
companies on
Upwork logo
Upwork logo
4.9 / 5
average rate

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FAQ

Can your development company help with legal issues?
Any fintech development requires not only the work of a dedicated development team but also a huge work of the client on agreements with the BaaS provider. As a software development company, we are not responsible for any legal issues.
Why do you need to integrate a BaaS during financial software development?
The connection of the BaaS solution is an inevitable step, it’s impossible for a development company to build a banking system from scratch. There are simpler app development projects where we don’t store money in the app, with simple features like unilateral payments. In such cases we can use Stripe or other suitable payment gateway. However, fintech software development projects are usually more complex.
How do you implement KYC in fintech software?
KYC heavily depends on the requirements of the chosen BaaS service. Some services require the use of their built-in functionality, some allow you to use third-party services for verification, it's all very individual. From our fintech app development experience, in almost 100% of cases KYC is carried out on the side of the BaaS provider. The user data can only be stored by companies that have the legal grounds to store and verify this data.
How much do your fintech software development services cost?
The cost of our fintech development service varies depending on the project's complexity, the features you need, and the time required to complete the software development project. To get a cost estimate, please contact us with your specific requirements.
How much time does financial software development take?
The time required for fintech development depends on the scope and complexity of the project. Usually, simple projects take 1-3 months, while more complex fintech software solutions can take up to a year or more. Contact us to discuss your project’s timeline and get a more accurate estimate
Who is on the app development team?
In our development company, a team typically includes a project manager, a UI/UX designer, frontend and backend developers, and a DevOps specialist. Each member brings specialized skills to ensure the success of your software development project.
What technologies do you use in your fintech software development services?
Our basic tech stack includes technologies like React, Laravel for web development, and React Native for mobile app development. In terms of security, we use GCP, AWS, Azure, RDS, Cloud SQL, and other advanced tools. For architecture, Kubernetes is our go-to solution.
Why do you integrate third-party solutions in fintech software?
We work primarily with small and medium businesses, so the balance between app development speed and product security is crucial for us. Using secure, pre-built solutions significantly reduces custom software development costs and speeds up the process while maintaining high security standards.
How do your fintech software developers ensure the security of the applications?
Security is a top priority in fintech software development. We implement measures like KYC, API security, encryption, and more to protect user data. Additionally, our fintech software developers follow practices like least privilege access and automated test coverage to ensure the safety and integrity of the custom fintech software.
Can you help fintech startups with custom fintech software development?
Absolutely! We have extensive experience working with fintech startups. Our fintech software development services can help you with everything from initial consultation and UI/UX design to full-scale product development and ongoing support.
What are DevOps services, and how do you provide them?
As a software development company, we offer DevOps services to automate and streamline your software development processes. Our DevOps services help you improve software quality, roll out updates with minimal downtime, and maintain your product efficiently. Subscription-based DevOps services ensure continuous integration and delivery.
How do you integrate AI into fintech software?
As a fintech software development company, we can integrate AI models into your fintech software. We can create chatbots, implement predictive analytics, and train models for various business tasks. AI integrations bring more efficiency and intelligence to your fintech solution.
What experience does your development company have?
Our software development company has 17 years of experience in software development. We have a proven track record of delivering secure, scalable, and user-friendly fintech applications. Our product development experience includes projects like trading platforms, neobank apps, and financial software for different regions and markets.
How do your fintech software development services support mobile app development?
Our fintech software development services cover both web and mobile app development. We use technologies like React Native to ensure that your mobile fintech app is secure, user-friendly, and compliant with all relevant regulations. Our goal is to create seamless user experiences across all devices.
What benefits can fintech businesses gain from partnering with your fintech software development company?
Partnering with our fintech software development company offers fintech businesses numerous benefits, including comprehensive product development, access to experienced fintech software developers, and ongoing support. We help you navigate regulatory requirements, integrate advanced technologies, and bring your fintech app to market quickly and efficiently.
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