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FinTech or financial technology refers to a mobile application, software, & other technology which is developed to automate and enhance traditional financial activities for multiple businesses as well as consumers. This technology often provided by a custom software development companies, makes multiple processes and operations easier and seamless for financial organizations. Along with that, it also effectively delivers a convenient and remarkable experience to the consumers.

However, in this competitive market, making a feature-rich fintech software development needs a proper tech partner who can appropriately deal with several challenges, identify complexities, secure data, achieve regulatory compliances, integrate new features, and more. In this blog, we are going to discuss major aspects of fintech development services.

Types of Fintech Software Development Services

From a simple & robust mobile payment application to a complex enterprise-grade platform, fintech software developers offer in-depth expertise & customer-oriented approaches to create a digital transformation. They use advanced technologies, including artificial intelligence, Blockchain & IoT to build secure, smooth-running, and user-friendly financial software. Here is a list of fintech software solutions that you can expect from fintech software development service provider companies.

1. Custom Fintech Application Development

Custom fintech software is mainly designed & developed to handle financial information like liabilities, immovable assets, cash assets, etc. Developers offer custom fintech application development services and solutions on both mobile and web platforms for custom reporting, excellent user engagement as well as real-time data interaction.

2. Accounting Information Systems

An accounting information system or AIS software is used to collect, store and process financial and accounting data. AIS software is based on a computer-based process that tracks accounting activities in conjunction with IT resources. Fintech developers can integrate accounting information systems with smart business intelligence & ERP applications for financial startups.

3. AI-Enabled Fintech Solutions

Fintech solutions powered by AI technologies can easily predict user behavior through an interface that integrates plenty of artificial intelligence & machine learning methods. AI-enabled fintech allows users to enhance detailed insights into their financial data. Moreover, many AI-enabled fintech management applications enable financial institutions to make smart decisions and enhance user engagement.

4. Intelligent CRM Solutions

Intelligent CRM mainly helps to monitor all interactions with your customers as well as prospects. Developers specialize in integrating cloud-based CRM systems with cutting-edge technologies such as artificial intelligence, voice technology, and microservices for better financial management.

5. Blockchain Development

Blockchain development is the process of making unchangeable, shared, DLT, or distributed ledger technology that tracks nonphysical or physical assets and records transactions securely within a network. Blockchain developers design & deliver agile blockchain-enabled fintech software applications that enhance transparency in your financial ecosystem and ensure security.

6. Robotic Process Automation

Robotic process automation (RPA) is called software robotics which is an automation technology process based on artificial intelligence workers and metaphorical software robots.  RPA bots help financial organizations to manage labor-intensive financial procedures & improve employee productivity.

7. Digital Wallet Development

A digital wallet can be an electronic device, an online solution, or software that allows businesses or individuals to make electronic transactions securely. Professional fintech software developers develop digital wallet applications that enable banks or other financial institutions to fulfill their customer demands.

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Industry-Specific Use-Cases Of Fintech Technology

Fintech technology opens a range of possibilities and opportunities that take financial organizations to new heights. This futuristic technology can also improve the security level of a financial institution. Some industry-specific fintech use cases include:

1. Wealth Management:

Financial software developers help to develop fintech applications that allow organizations to manage personal investing, financial assets & financial analytics.

  • Monitor customer trends
  • Excellent communication

2. Consumer Banking:

Developers specialize in developing consumer-friendly and secure banking applications for small and mid-sized enterprises.

  • Helping customer support
  • Future prediction
  • Seamless operations

3. Insurance:

Fintech software development services are also used to build financial applications for insurance organizations that help to enhance customer engagement, fraud detection, the underwriting process, and claim processing.

  • Fraud Prevention
  • Less underwriting cost
  • Billing efficiency

5. Lending:

Fintech developers can build applications through technology implementation across lending operations that effectively facilitate immediate loan approval, consumer eligibility checks, and online verification.

  • Online KYC verification
  • Automatic repayments

6. Personal Finance:

financial custom software company helps to build smarter applications for the personal finance sectors. Personal finance allows users to intelligently manage their investments and savings with improved budget planning and automated payments.

  • Automated report generation
  • Track bills of multiple cards on a single application

7. Payment:

A fintech application development company helps organizations to enhance transparency across payments. They also improve financial advisory solutions and bring security to the fintech ecosystem:

  • Sales Analysis
  • Browsing the history and location of a buyer for ensuring authenticity
  • Low-cost money transfer

What Is The Cost Of Making A Fintech Software Application?

Well, there is no perfect answer that describes the exact cost of a fintech software application. The average cost usually ranges from 30,000 to 500,000 USD. However, software development cost depends on too many factors such as app type, complexity level, location of fintech developers, etc. Here is a list that helps you know the cost of making different financial applications better.

Application Type

Estimated Cost

Banking application

$165,000 to $180,000

Investment application

$55,000 to $65,000

Lending application

$80,000 to $100,000

Insurance application

$100,000 to $120,000

Consumer finance application

$70,000 to $90,000

The next cost-estimating factor depends on who is developing your application. As an owner, you may have too many options to choose from such as in-house application development, freelancing, or outsourcing. For your convenience, we have shared a quick list mentioning the average cost of fintech app development services based on the developer’s choice.

Developer’s Type

Estimated Cost

In-house Developers

$80,000 to $90000


$20000 to $30,000

Multi-skilled agency

$50,000 to $60000


Must-Have Features For Fintech Software Systems

Fintech software contains a number of features. However, features vary from one software to another. For instance, a crypto platform comes with some features like live market movement, on the other hand, a payment application comes with a QR code facility. Take a look at some of the must-have features of fintech software applications.

1.  Secure Authentication:

No doubt, authorization is one of the important aspects for every fintech software development company. It’s a basic method of securing any application with multi-factor authentications such as email, OTP-based registration, phone number verification, biometrics, etc. Secure authentication effectively prevents a number of attacks that may exploit user data or systems. Moreover, it also allows businesses to keep all their networks highly secure by permitting their users to access protected resources only.

2. Model-Specific Functions:

This is a core feature of a fintech software system. For instance, if you’re planning to develop a finance management application, it should have several account links, AI-based highlights, a dashboard & income summary. On the other hand, if you have a stock trading app, the functions will be different. So, app functions should be model-specific and depend on the type of financial application.

3. Payments:

The list of adding this functionality is enormous. Whether you are in search of B2B management software or a lending application, the payment feature is common for all kinds of financial applications. This is because every fintech user needs the feasibility of making real-time and secure payment processing. Now, how to offer this feature completely depends on your app model. You can either go for QR code addition or payment through the app wallet.

4. Dashboard:

A dashboard is important for all data-driven software applications. FinTech is no exception as it requires tracking & management systems. The in-app dashboard brings all expense and income data, upcoming transactions, market updates, etc. This is a handy feature that makes daily work easier and seamless. Moreover, dashboards also allow users to download reports which will help them to get more detailed views.

5. Notifications:

Customized notifications help to build strong communication between financial organizations & their potential customers. This is used to send credit or debit updates to the users, modify investment rates, new offers, loan app update status, etc. As the software owner, you need to make a strategy to send important notifications in a way that they never seem untimely, unwanted, or intrusive.

6. Integrations:

To make fintech software more beneficial to its customers, it must be integrated with several third-party software such as banking software, notification system, security software, payment software, etc. This is because when software is integrated with the correct APIs, users can easily find out bank locations, track their accounts, etc.

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Final Words

From basic fintech software applications to complex financial platforms, reputable fintech custom software development companies always can fulfill all financial business needs. With in-depth industry expertise, first-class developers, & effective customer-centric approaches, they also help their potential clients at every stage of digital transformation. If you would like to enhance the operational efficiency, transparency, and customer experience of your financial solutions, you must opt for fintech software development services. For more information and details, talk to our industry professionals.


What are the 5 types of FinTech?

There are different types of fintech companies available today. The top 5 fintech company categories include: 

  1. Lending
  2. Payments
  3. International Money Transfers
  4. Personal Finance
  5. Equity Financing

What are the 3 categories of FinTech?

There are several ways to categorize FinTech, the following are three broad categories commonly used:

  1. Payments & digital currencies
  2. Lending & Financing
  3. Personal finance & wealth management

What are FinTech development services?

FinTech development services usually encompass different services offered by FinTech startups, technology companies, and software developers to create, customize & deploy innovative financial technology solutions. Some common FinTech development services include:

  1. Custom software development
  2. Mobile app development
  3. Blockchain & cryptocurrency solutions
  4. Data Analytics & Artificial Intelligence
  5. API Integration
  6. Cloud computing & infrastructure
  7. Regulatory compliance solutions