Fintech Software Development Services (2024)

Accelerate your fintech application development.

Brainhub is a specialized software engineering agency that combines tech expertise with 7+ years of experience working on fintech applications with clients ranging from seed-round startups to Big4 consulting firms.

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In fintech, speed of innovation can be a competitive advantage.

Whether you're a thriving bank, an emerging startup, an innovative credit union, or an insurance pioneer, our fintech software development services will let you ride the wave of digital transformation, enhance customer experience, and secure a competitive edge in the fast-paced world of finance.

Whenever you're ready, let's discuss your project.

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Software development services for fintech startups and scale-ups.

Accelerate your fintech app development with a dedicated team of experienced software engineers and product experts with deep understanding of fintech industry.

Web Development
Mobile App Development
Product Design
Cloud Engineering
Software Architecture
Quality Assurance

With 80+ completed projects, we've seen enough to save you from accumulating tech debt or scalability issues, and help you deliver on even the most ambitious product roadmaps and deadlines.

"[With Brainhub] you're gonna save yourself problems and money in the long term with software done correctly."

- Markus Sonoma, Founder &PMat Verb

Fintech software development services and solutions

When it comes to building impactful software, a deep understanding of opportunities and challenges in the financial services sector is not optional.

Build scalable architecture

Set up a scalable architecture that can support your product's growth, so you can focus on what really matters - creating value for your customers.

Handle frequent and heavy data flows

Make sure your product can run smoothly and efficiently, so you can deliver the best user experience on all platforms.

Integrate with multiple services

Seamlessly integrate with external services and APIs, providing a streamlined user experience and maximizing the functionality of your app.

Extend your team

Don't struggle with technical resources for your fintech product development. Bet on consulting and software development services with an experienced partner.

Leverage cloud

Utilize the power of AWS, Azure or GCP. Allow your product to scale seamlessly and provide your customers with a reliable and secure platform.

Launch MVP

Test your product in the market quickly with an application that meets your customers' needs and provides a strong foundation for your business to grow.

Get our info pack. Short and sweet.

All the data you need to decide if Brainhub is the company you want to work with on your fintech project.

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In fintech, the speed of innovation marks the difference between
laggers and leaders.

The financial services industry is constantly evolving, and staying competitive in this rapidly changing landscape requires companies to be agile and innovative.

In 2022, the industry experienced strong growth, with some players outperforming others by a significant margin.

But what sets the leaders apart from the laggards? A new report by Deloitte provides insights into the financial performance of organizations in the industry and identifies the strategies that successful companies have used to thrive in a highly competitive market.

From digital transformation to data analytics and innovation, this report offers valuable recommendations for companies looking to stay ahead of the curve and succeed in the years ahead.

Key findings:

1. Compared to the prior year, the financial services sector as a whole saw strong growth in 2022, with an increase in revenue of 8.3%.
‍
2. The companies that made significant investments in digital transformation, improving customer experiences, and using data analytics to improve business decisions were those that led the sector. The average revenue growth for these businesses was 12.7%.

3. On the other hand, the laggards were those who were unable to keep up with the rate of change within the sector. The average revenue growth for these businesses was only 2.9%.

4. In order for businesses in the financial services sector to remain competitive in the market, the report emphasizes the importance of investing in digital transformation, innovation, and data analytics.

5. The report also lists a few of the difficulties the sector is currently facing, including growing regulatory pressures, rising cybersecurity risks, and shifting consumer expectations.

According to the study's findings, the report advises financial services companies to concentrate on the following tactics to stay competitive:

Embrace digital transformation
To improve customer experience, automate procedures, and boost productivity, businesses should invest in digital technologies.
‍
Utilize data analytics
Businesses should spend money on data analytics to learn more about customer behavior, enhance decision-making, and find new growth opportunities.

Innovate
There's a need to develop new products and services, innovate, and adapt to changing customer needs if organizations want to stay ahead of the competition.

Address regulatory compliance
Regulatory compliance should be prioritized by companies in order to avoid fines, damage to their reputations, and legal action.

Boost cybersecurity
Businesses should spend money on effective cybersecurity measures to safeguard customer information, thwart cyberattacks, and uphold trust.

"Deliver business value, fast."

That's it. That's our secret sauce revealed.
On every project, we follow three unbreakable principles to make it happen.

Set up automated tests and health checks

To minimize the risk of failed tests
Gain more confidence to make changes to the code
Avoid costly and tedious manual work
Achieve faster delivery with short smoke tests to verify critical user paths

Optimize delivery frequency

To measure and improve delivery efficiency
Identify and resolve bottlenecks in the delivery process
Track progress towards delivery goals and objectives
Make informed decisions regarding resource allocation and investment

Review product goals and roadmap

To deliver the right solutions in the right way
Optimize time-to-market
Assure delivery of real business and user value
Design solutions with limited (technical, operational, legal) dependency

Don't take our word for it.

Here's what hard data and our clients have to say.

93%

clients rate the quality of our services as 5/5

★ 4.9 / 5

featured as one of the market leaders by Clutch (source)

72%

clients work with us for longer than 12 months (average is 19 months)

The people from Brainhub are highly-skilled in React and Node.js and they work hard to achieve our goals.

Wes Reid

Head of Product & Technology of Dealer Market Exchange

Brainhub have been working without needing a lot of assistance, and only asking the right questions.

Claus Stilbord

Omnicar A/S

It’s critical that Brainhub understands the context of the project and is treated as part of the team.

Enzo Martin

Proven track-record in complex environments
with ambitious roadmaps.

Since 2015, we’ve helped 80+ fast-growing companies build web, mobile and desktop apps that make an impact.

How team augmentation got an ambitious fintech startup off the ground

A scalable mobile app for a $6.4M startup

Top class team extension for 400+ company

How National Geographic improved their application’s time-to-market by 450%

Frequently Asked Questions

How much does it cost to develop a fintech application?

As with most software development projects, the cost of developing a fintech application can vary depending on a number of factors, such as the complexity of the project, the features and functionality required, the development timeline, and the size of the development team needed.

Because every project is unique, we would need to gather more information from you in order to provide a more accurate estimate of the cost. This typically involves discussing your specific needs and goals in more detail, as well as outlining the scope of the project and any technical requirements.

That said, we are committed to providing fair and transparent pricing for all of our projects. We can work with you to create a custom pricing plan that fits your budget and ensures that you are getting the most value for your investment.

If you're interested in learning more about our pricing and how we can help you bring your fintech application to life, please don't hesitate to get in touch with us. We're always happy to answer any questions you may have.

What time does it take to develop a fintech software?

The time it takes to develop a fintech software depends on various factors such as project complexity, features, development team size, and methodology.

Generally, fintech software projects can take several months to a year or more to complete, including planning, design, development, testing, and deployment.

At our company, we work closely with our clients to ensure that we meet their project timeline and deliver a high-quality product on schedule. We also follow an agile development process to work efficiently and effectively while keeping our clients informed every step of the way.

I have an idea for a fintech app. What should I start with?

If you have an idea for a fintech app, the first step is to conduct market research and assess the feasibility of your idea. This includes evaluating the demand for your app, the potential user base, and the competition in the market.

Once you have validated your idea, the next step is to create a detailed project brief that outlines your vision for the app, including its features and functionality, technical requirements, and design guidelines.

From there, you can begin working with a software development company like ours to bring your idea to life. We can help you refine your project brief and work with you to develop a comprehensive development plan that takes into account your budget, timeline, and specific needs.

Throughout the development process, we will work closely with you to ensure that we are meeting your expectations and delivering a product that aligns with your vision. We can also provide guidance and support on issues such as app monetization and marketing, to help you maximize the potential of your fintech app.

Overall, the key to success when starting a fintech app development project is to work with a trusted and experienced software development partner and to maintain open communication throughout the entire process.

Do you offer consulting on the development of fintech solutions?

Yes, we do offer consulting services for the development of fintech solutions. Our team of experts has extensive experience in developing fintech solutions, and we are well-positioned to provide guidance and support on a wide range of issues related to fintech development, including technical architecture, security, compliance, and scalability.

Our consulting services are designed to help our clients navigate the complex and rapidly evolving world of fintech, and to ensure that they are making informed decisions that will enable them to achieve their goals and objectives. We can work with you to assess your needs and identify the best course of action for your specific project, whether that involves developing a new fintech product from scratch, enhancing an existing product, or integrating with third-party solutions.

Overall, our goal is to provide our clients with the insights, advice, and guidance they need to make smart decisions and achieve success in the highly competitive and fast-moving world of fintech.

Do you offer fintech app design services?

Yes, we offer fintech app design services as part of our software development services. Our team of experienced designers is well-equipped to create custom designs that are tailored to the specific needs and goals of our clients.

Our app design services typically include user experience (UX) design and user interface (UI) design, which are critical components of any successful fintech app. We work closely with our clients to understand their target users, the key features and functionality required, and any branding or design guidelines that should be followed. From there, we create custom designs that are intuitive, user-friendly, and visually appealing.

We also place a strong emphasis on usability testing and iterative design, which means that we continually seek feedback from users and refine our designs accordingly. This approach ensures that we are creating fintech apps that are not only visually attractive but also easy to use and navigate, which is critical for engaging users and driving adoption.

Overall, our fintech app design services are a key part of our comprehensive software development process, and we believe that they are essential to the success of any fintech app development project.

Is fintech software development outsourcing a good idea?

Outsourcing fintech software development can be a good idea, as it allows companies to leverage the expertise and resources of external partners to bring their fintech products to market faster and more efficiently. Outsourcing also allows companies to access a wider pool of talent and expertise, which can be particularly beneficial for smaller companies or those with limited in-house technical resources.

However, it's important to note that outsourcing fintech software development also comes with certain risks and challenges. For example, outsourcing can make it more difficult to maintain control over the development process, particularly when working with offshore development teams. It can also be challenging to find a reliable and trustworthy outsourcing partner with the right expertise and experience to deliver a high-quality product.

To mitigate these risks, it's important to carefully evaluate potential outsourcing partners and to establish clear communication and collaboration protocols from the outset of the project. It's also crucial to ensure that any outsourced development work is properly documented and that the intellectual property rights are clearly defined and protected.

Ultimately, whether outsourcing fintech software development is a good idea depends on a range of factors, including the specific needs and goals of the company, the availability of in-house technical resources, and the level of risk that the company is willing to accept. At our software development company, we work closely with our clients to understand their needs and goals and to determine whether outsourcing is the best option for their specific situation.

What technologies do you use for fintech development?

We use a wide range of technologies for fintech development, depending on the specific needs and requirements of each project. Some of the technologies that we commonly use include:

Programming Languages: We are proficient in a range of programming languages, including JavaScript (React, Node.js, Electron, React Native), TypeScript and C# (.NET)
Databases: We work with a variety of databases, including MySQL, PostgreSQL, Oracle, and MongoDB, among others.
Cloud Platforms: We have extensive experience working with cloud platforms such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP), which are essential for developing and deploying scalable and reliable fintech applications.
APIs and Third-Party Integrations: We are experts in integrating with third-party APIs and services, which are critical for many fintech applications.
Blockchain Technologies: We have some experience developing applications on blockchain platforms, such as Ethereum, which can be used for a range of fintech use cases, such as smart contracts, digital identity verification, and secure transactions.
Machine Learning and Artificial Intelligence: We leverage machine learning and artificial intelligence technologies to build intelligent fintech applications that can automate processes, analyze data, and provide personalized experiences for users.

Overall, our technology stack is flexible and adaptable, and we are constantly evaluating new technologies and tools to ensure that we are staying at the forefront of fintech development.

I have been working with an external team and would like to change it. Do you work with such projects?

Yes, we are happy to work with clients who have been working with an external team and are looking to make a change. We understand that changing development partners can be challenging, and we are committed to making the transition as smooth and seamless as possible for our clients.

When working with a new client, we typically start with a discovery phase to understand the existing project, including the scope, requirements, architecture, and codebase. We also conduct a code review to assess the quality and maintainability of the existing code and identify any potential issues or areas for improvement.

From there, we work with the client to develop a comprehensive plan for transitioning the project to our team, including timelines, milestones, and communication protocols. Throughout the transition process, we place a strong emphasis on transparency and communication, keeping the client informed and involved at every step.

We also understand that it can be challenging to pick up an existing project, particularly when there may be differences in coding style, tools, and processes. As such, we work closely with the client to understand their preferences and to align our development practices with their needs and goals.

Overall, we have extensive experience working with clients who are looking to transition development partners, and we are committed to delivering high-quality software and excellent customer service throughout the entire process.

Can you guarantee data security in my digital finance product?

As a software development company, we take data security very seriously and implement best practices to ensure the safety of our clients' data. However, it's important to note that no system can be completely immune to threats, and guaranteeing 100% data security is not realistic.

That said, we follow a range of security measures and practices to mitigate the risk of data breaches and unauthorized access to our clients' data. These measures include:

Encryption: We encrypt all sensitive data at rest and in transit, using industry-standard encryption protocols.
Access Controls: We implement strict access controls to limit access to sensitive data and ensure that only authorized personnel have access to it.
Penetration Testing: We conduct regular penetration testing to identify vulnerabilities in our systems and applications and to proactively address potential security threats.
Compliance: We ensure that our systems and processes are in compliance with relevant security and privacy regulations, such as GDPR, CCPA, and HIPAA, where applicable.
Employee Training: We provide regular security awareness training to our employees to ensure that they are aware of security best practices and are equipped to identify and respond to potential security threats.

While we cannot guarantee 100% data security, we are committed to implementing the highest standards of data security and to continuously monitoring and improving our systems and processes to ensure the confidentiality, integrity, and availability of our clients' data.

Do you sign NDA and NC agreements?

Yes, we are willing to sign Non-Disclosure Agreements (NDAs) and Non-Compete Agreements (NCAs) with our clients. We understand the importance of confidentiality in the software development process, particularly in the fintech industry, where sensitive financial data is often involved.

When working with a client, we take all necessary steps to ensure the confidentiality of their information and data. This includes signing NDAs and NCAs, restricting access to sensitive information only to authorized personnel, and implementing strict security measures to prevent unauthorized access or disclosure.

We are also happy to work with clients who have their own NDAs and NCAs that they would like us to sign. We take all legal agreements seriously and work with our clients to ensure that all parties are protected and that the terms of the agreement are met.

Overall, we understand the importance of confidentiality and are committed to ensuring the security and privacy of our clients' information and data.

Grow faster with a dedicated software team for your fintech project.

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As an expert in software development and fintech, I bring a wealth of knowledge and experience to the table. With a background in both technology and the financial sector, I've been involved in numerous projects, ranging from startups to Big4 consulting firms. Over my 7+ years of experience, I've worked on more than 80 completed projects, gaining insights into the unique challenges and opportunities within the fintech industry.

Now, let's dive into the concepts presented in the provided article:

Brainhub's Fintech Software Development Services:

Fintech Application Development:
- Brainhub offers specialized software engineering services tailored for fintech applications.
- The agency has 7+ years of experience, catering to a diverse clientele from seed-round startups to Big4 consulting firms.
- Services include web development, mobile app development, product design, cloud engineering, software architecture, and quality assurance.
Key Fintech Software Development Concepts:
- Scalable Architecture:
  - Importance: Enables a product to support growth.
- Handling Data Flows:
  - Importance: Ensures smooth and efficient operation for optimal user experience.
- Integration with Multiple Services:
  - Importance: Provides a seamless user experience, maximizes app functionality.
- Team Extension:
  - Importance: Emphasizes the need for technical resources in fintech product development.
- Cloud Utilization (AWS, Azure, GCP):
  - Importance: Ensures scalability, reliability, and security for fintech platforms.
- MVP (Minimum Viable Product) Launch:
  - Importance: Rapidly tests the product in the market and establishes a foundation for business growth.

Deloitte's Fintech Industry Report:

Industry Growth (2022):
- The financial services sector experienced strong growth with an 8.3% increase in revenue.
Factors Differentiating Leaders and Laggards:
- Leaders made significant investments in digital transformation, improving customer experiences, and using data analytics.
- Average revenue growth for these businesses was 12.7%.
- Laggards experienced an average revenue growth of only 2.9%.
Recommendations for Staying Competitive:
- Embrace digital transformation.
- Utilize data analytics.
- Innovate and adapt to changing customer needs.
- Address regulatory compliance.
- Boost cybersecurity.
Challenges in the Sector:
- Growing regulatory pressures, rising cybersecurity risks, and shifting consumer expectations.

Brainhub's Development Principles and Client Testimonials:

Development Principles:
- Set up automated tests and health checks.
- Optimize delivery frequency.
- Review product goals and roadmap.
Client Testimonials and Data:
- High client satisfaction with 93% rating the quality of services as 5/5.
- Recognition as one of the market leaders by Clutch.
- Long-term client relationships with 72% working with Brainhub for more than 12 months.
Case Studies:
- Highlights successful projects such as helping a fintech startup off the ground and improving application time-to-market for National Geographic.

Fintech Development FAQs:

Cost and Time Estimates:
- Acknowledges the variability in costs, emphasizing the need for project-specific details.
Starting a Fintech App:
- Recommends market research, project brief creation, and collaboration with a software development partner.
Consulting on Fintech Solutions:
- Confirms the provision of consulting services on various fintech aspects, including technical architecture, security, compliance, and scalability.
Fintech App Design:
- Affirms the inclusion of fintech app design services, covering UX/UI design with a focus on usability testing.
Fintech Software Development Outsourcing:
- Acknowledges the potential benefits of outsourcing but highlights associated risks, emphasizing the importance of partner evaluation and communication.
Technology Stack:
- Lists technologies commonly used, including JavaScript (React, Node.js), TypeScript, C#, databases (MySQL, PostgreSQL), cloud platforms (AWS, Azure, GCP), APIs, blockchain technologies, and machine learning.
Transitioning from an External Team:
- Affirms the company's willingness to work with clients transitioning from external teams, emphasizing a smooth and transparent process.
Data Security Assurance:
- Commits to implementing best practices for data security, including encryption, access controls, penetration testing, and compliance.
NDA and NC Agreements:
- Confirms the willingness to sign NDAs and NCAs, emphasizing the importance of confidentiality in the software development process.