Top Financial App Developers

FinTech app development companies are multidisciplinary specialize in building mobile or online apps that provide financial services and solutions. Everything changes from here, which means the skills, experiences, research, resources, and use of tools/technologies. Simply put, a FinTech app developer has to have expertise in a range of technologies, including machine learning, blockchain, Python, DevOps, C++, and Cloud Computing, and skills like problem-solving, collaboration, analytics, project management, security, adaptability, and others.

Most FinTech app development companies offer comprehensive development services that include developing custom Fintech app solutions, including digital banking, RegTech app integration, digital wallets, investment apps, P2P payment banks, lending apps, crowdfunding apps, cryptocurrency apps, InsurTech, asset management, personal finance, Robo advising software, credit assistance, budgeting applications, and to name a few. However, the services we have mentioned here are just a number –when we say comprehensive, it includes everything around FinTech app development services. You can ask your firm for the service you need before you hire them.

Features can be custom, depending on the type of FinTech app you need and the purpose, challenges, and needs you want your FinTech app to address. That means you must be looking for an app that seamlessly manages your world of finances with a personalized dashboard right before you. There can be a standard list of features that a standard app must have. Let’s figure this out.

• Intuitive UI/UX with simple navigation and mind-boggling interface
• User profile and management
• Security features like authentication,  fingerprints, facial recognition, and voice recognition
• Multi-layered security or multi-factor authentication (MFA)
• Push notification, real-time alert
• Easy to make payments and transactions
• Account management
• Multi-language support
• Live chat, AI chatbot
• Third-party integration
• AI-driven analytics
• Financial insights and reporting
• AI voice assistants
• Scanners and QR code
• Multiple payment getaways
• Support

The cost of hiring FinTech app developers depends on two main factors: the location / region from which you choose to hire the developers and their experience level. However, average cost to hire developers could be anywhere between $20 to $250 per hour. The overall cost for the same would be anywhere between $20,000 to $300,000. Apart from these, the type of FinTech app you want to build will significantly impact the overall cost of hiring FinTech engineers. Here’s the breakdown for FinTech app development;

• Simple or standard apps: $20,000 to $50,000
• Semi-complex apps: $50,000 to $150,000
• Complex Fintech app: $150,000 to $300,000

The cost hiring FinTech Developers based on Location

There are plenty of FinTech applications in the market that businesses use for many purposes. Some of the top apps for financial purposes include;

• Chime – Mobile Banking
• Robinhood
• Revolut
• Coinbase
• MoneyLion
• Acorns 

FinTech app development companies use a variety of technologies to Building advanced financial industry applications including Cloud Computing, Artificial Intelligence (AI), Machine Learning, Blockchain, Big Data Analytics, Automation, Natural Language Processing (NLP), Cybersecurity, Python and RegTech.

They implement robust data security measures to ensure the app is PCI-DSS and GDPR compliant. They follow compliance best practices, including robust encryption, access controls, regular vulnerability assessments, data minimization practices, and clear user consent mechanisms. They have a dedicated team that maintains a robust governance structure and even provides timely training to their developers on regulatory requirements.

All listed FinTech companies integrate APIs, such as Plaid and Stripe, to make the app more accessible and user-friendly. For example, it can access users’ bank account information and transaction history and process online payments. These APIs make features like direct bank transfers and secure payment processing. Apart from these, they offer several additional APIs and third party integration as options;

• For Payment
• Stripe API
• PayPal API
• Square API
• Financial Data Aggregator
• Investment
• For Banking
• Plaid API
• Yodlee API
• Coinbase
• For Compliance and Identity Verification
• Alpaca API
• Robinhood API
• Regtech APIs
• Onfido
• Aadhaar card API

Because financial translations know no boundaries, people use fintech applications to transact money in multiple currencies. A fintech app developer implements plenty of things to ensure users feel good about trans money by similarly switching between currencies. It begins with creating Perfect UX, a tool for currency, selector, real-time conversion, localization, and your name, just a few critical factors. However, there are some technical aspects that need to be implemented following the best practices. For example, they can use right backend frameworks like Node.js to handle complex financial calculations. Similarly, developers can use PostgreSQL or MySQL databases so that users can transfer money natively in their preferred currencies.