Compare the top FinTech Software Development Companies and explore the services offered to identify the best FinTech solution:
The FinTech industry got a significant boost during the Covid-19 pandemic. The transition from traditional systems of banking to digitized alternatives was a change that was now happening rapidly. That momentum continued long after the pandemic had subsided. Digital finance has sort of become a way of life for a majority of individuals around the globe.
This has opened a window of endless opportunities, especially for FinTech companies to generate boatloads of revenue by offering advanced virtual financial services. This is where you’ll need the services of reliable financial software development companies.
Typical FinTech software development companies are known to possess the experience and insight needed to build and deploy technology that serves as a digital solution for handling various aspects of finance.
What You Will Learn:
FinTech Software Development Services
The market today is oversaturated with a plethora of financial software companies, each promising excellence to their potential clients.
So how do you figure out which of them will best cater to your business’s specific needs? Fortunately, we’ll be saving you some time on research by recommending companies that we genuinely believe to be some of the best you can trust.
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We’ve come up with this list after hours of research into each prominent company. Only after learning about their services and the reputation that they’ve mustered we are suggesting the list below to you.
However, before we kick start the list of personal recommendations, let’s first have a look at what’s trending in the world of FinTech solutions
Market Trends: According to a report published by Deloitte, the Global revenue of the FinTech industry is growing by a CAGR of 11.7%. The Global FinTech revenues which were about €92 billion in 2018 are expected to balloon by up to €188 billion in the year 2024.
Expert Advice:
- Understand your requirements and make sure that the FinTech developers you approach are capable of living up to your expectations.
- Vet the company by going through client testimonials and verified reviews available online.
- Get on a call with the representatives of a FinTech software development company to get your queries cleared before signing any dotted lines.
- Ask them if they’ll be willing to take up your project on priority if necessary.
- Lastly, go for a company that offers its services at an affordable rate.
FAQs on Fintech Solutions
Q #1) How do I choose a FinTech software development company?
Answer: There are way too many options at your disposal today when it comes to FinTech software developers. So the prospect of choosing one among a sea of FinTech companies can become overwhelming.
We recommend keeping the following qualifying parameters in mind to make the right decision:
- Strong industry experience.
- Home to skilled and certified developers.
- Exhibit commitment to client security.
- Capable of agile delivery.
- Proficient with risk management.
- Adhere to complete transparency.
Q #2) What is FinTech Developer?
Answer: A FinTech developer is someone who specializes in the development of financial solutions. They are in charge of designing, delivering, maintaining, and upgrading FinTech software at the behest of companies or financial institutions that need them.
A seasoned FinTech developer possesses the skills of full-scale web and mobile application development. They also specialize in cloud computing, blockchain, IoT, DevOps, etc.
Q #3) Does FinTech have a future?
Answer: As mentioned before, the FinTech sector is growing at an exponentially rapid pace with many financial software developers making their presence felt. It is a multi-billion dollar industry today that is growing at a CAGR of approximately 11%.
Our financial institutions are quickly gravitating towards virtual financial services. Suffice it to say, the future of FinTech is strong not only in the US but around the world. It won’t be long until the FinTech industry has completely replaced our traditional financial systems.
Q #4) What is the number 1 FinTech company?
Answer: Both Visa and Mastercard are two of the biggest FinTech companies in the world. With headquarters in the USA, both Visa and Mastercard enjoy a market capitalization of 478 billion USD and 368 billion USD respectively.
Q #5) Is Python used in FinTech?
Answer: Yes, Python is used in FinTech. In fact, most companies consider Python to be a safe option for developing FinTech solutions. Python has played an instrumental role in the development of banking services, cryptocurrency markets, risk management solutions, trading software, and much more in the past.
List of Best FinTech Software Development Companies
Some remarkably popular FinTech solutions:
- iTechArt
- Fireart Studio
- Clarion Technologies
- Itexus
- Miquido
- Adonis Software
- UppLabs
- BrainCode
- Altamira
- CML Team Ltd.
- IT Craft
- STX Next
- Chili Labs
- Eleks
- Sloboda Studio
Comparing the Top Financial Software Developers
| Name | Best for | Founded | Headquarters | Revenue |
|---|---|---|---|---|
| iTechArt | Custom financial software development | 2002 | New York, USA | over $180M USD |
| Fireart Studio | Full-cycle product development | 2013 | Warsaw, Poland | $8 Million |
| Clarion Technologies | Outsourcing development to India | 2000 | Pune, India | $76 Million |
| Itexus | Established FinTech enterprises and start-ups | 2013 | Dower, Delaware | $11 Million |
| Miquido | 360 degree design service | 2011 | Krakow, Malopolska | $14 Million |
Detailed reviews:
#1) iTechArt
Best for custom financial software development.
Kicking off the list is the one and only iTechArt that has taken the world of custom software development by storm in recent years. Home to a seasoned engineering team, the company offers scalable FinTech software products to start-ups and rapidly growing tech companies. They spearhead the development of web, mobile, and cloud-based applications.
They deliver high-performing applications, imbibed with the latest features to help companies dominate the FinTech market. From initial planning to eventual launch, you can count on iTechArt’s team of developers to deliver excellence at every stage of a software development life cycle.
Founded: 2002
Headquarters: New York, USA
No. of Employees: 1001-5000
Revenue: Over $180M USD
Clients: StoneX, Zilch, IC Markets, Curve, DealCloud, Unlimint
Services Offered:
- Backend and Frontend Web App Development
- iOS, Android, and cross-platform mobile app development
- QA and testing
- Cloud Development
- UI/UX Design
Verdict: iTechArt boasts a team of experienced developers who know exactly what it takes to develop a FinTech app that emanates excellence with regard to its usability and functionality. They help you throughout the entire software development life cycle. As such, iTechArt is my number-one pick for rapid and robust web, mobile, and cloud app development.
Hourly Rate: $55-$99/Hr
Min Project Size: $25000+
#2) Fireart Studio
Best for full-cycle product development.
Fireart Studio is another company that has earned quite a reputation for itself in the field of FinTech software development. The company is home to over 50 JS specialists and design experts who know what it takes to put a robust tech product out there. They truly excel at developing digital products right from scratch.
They can easily get on board an ongoing project and accelerate its production with agile methodologies like Scrum and Kanban. Besides the team’s proficiency in JS and agile methodologies, it also offers transparency throughout the process.
Moreover, they indulge in efficient time-tracking to ensure that you are only charged for hours that were operational.
Founded: 2013
Headquarters: Warsaw, Poland
No. of Employees: 11-50
Revenue: $8 Million
Clients: Swipex, Google, Tandem, TheoremReach
Services Offered:
- Full Cycle Product Development
- Product Front-end design
- Design Outstaffing
- Branding
Verdict: Fireart Studio’s is seamless yet complex approach to product development. With them by your side, you are basically getting access to some of the best software developers, designers, and QA experts in the industry.
Hourly Rate: $50-$99/Hr
Min Project Size: $10000+
Website: Fireart Studio
#3) Clarion Technologies
Best for outsourcing development to India.
Clarion Technologies presents you with a way to really cut your costs by outsourcing development tasks to a team in India. You can approach Clarion to basically hire an expert that specializes in any one or a combination of services like .net, PHP, front-end, back-end, mobile app, and web app development.
All the developers in Clarion’s team are experienced, skilled, and vetted in the art of developing FinTech solutions. They work at a pace that you are comfortable with to build a solution tailored according to your needs.
Founded: 2000
Headquarters: Pune, India
No. of Employees: 101-500
Revenue: $76 Million
Clients: Redline, Financial Driver, Flimp Communications, GoldenComm.
Services Offered:
- Front-end and back-end development
- Web app development
- Cross-platform mobile app development
- DevOps
Verdict: If you are looking for a cost-effective way to develop and design your FinTech software without compromising high-end quality, then we cannot recommend Clarion Technologies enough. With a risk-free 2-week trial to benefit from, we would say you have hardly anything to lose by getting in touch with these FinTech app developers.
Price: Contact for a quote
Hourly Rate: $25-$49/Hr
Min Project Size: $5000+
Website: Clarion Technologies
#4) Itexus
Best for establishing FinTech enterprises and start-ups.
Itexus is a company that is solely focused on catering to companies that dwell in the financial domain. This is what makes it uniquely impressive to me. Over the years, Itexus has helped both start-ups and established FinTech enterprises with the development of digitized financial products in a cost-effective and agile manner.
Right from initial planning and UI/UX mock-up to eventual design and deployment, you can trust the seasoned developers at Itexus to stay with you every step of the way during the development process.
The company truly excels at helping businesses automate their financial processes or launch new services that could help them potentially grow in the market.
Founded: 2013
Headquarters: Dower, Delaware
No. of Employees: 101-500
Revenue: $11 Million
Clients: Mango Connects, Mc. Donald’s, Chick-Fil-A.
Services Offered:
- Bank Process Automation
- DevOps
- FinTech App Development
- Trading and lending app development
Verdict: If you are an enterprise financial services company that seeks the best fintech custom software development companies, then regardless of your scale we suggest approaching Itexus. They will help with the digitization and gradation of your services and even automate processes by adhering to industry compliance and standard regulations.
Hourly Rate: $25-$49/Hr
Min Project Size: $10000+
Website: Itexus
#5) Miquido
Best for 360-degree design service.
Miquido is yet another name on this list that we believe embodies excellence when it comes to FinTech software development. The company will help you come up with strategies that are powered by informed market research and business intelligence services.
The developers at Miquido are experts at designing new financial products or polishing existing ones.
You can count on them for the development of both tailor-made mobile and web applications. The company uses the latest AI solutions to automate processes and accelerate the process of quality FinTech solution development.
Founded: 2011
Headquarters: Krakow, Malopolska
No. of Employees: 101-500
Revenue: $14 Million
Clients: Aviva, Hello Fresh, Skyscanner, BNP PARIBAS
Services Offered:
- UI/UX Design
- Custom Mobile and Web App development
- Product strategy ideation
- Digital transformation
Verdict: With a development team that leverages the latest AI solutions when designing applications, Miquido is one of the finest FinTexh custom software development companies out there. From ideation to launch, we can guarantee you’ll have a smooth experience working with them as your FinTech application developers.
Hourly Rate: $50-$99/Hr
Min Project Size: $25000+
Website: Miquido
#6) Adonis Software
Best for Mobile App Development.
Adonis Software is home to FinTech software developers who know exactly what it takes to make mobile applications click. The company is home to fantastic business analysts who take ideas and convert them into an optimal strategy to develop a financial product.
The company specializes in and prides itself in developing native mobile apps with solid architecture. The solutions they’ve delivered in the past are perfect embodiments of intuitive transition, striking animation, and lightning-fast loading times.
Founded: 2011
Headquarters: Bucharest
No. of Employees: 11 – 50
Revenue: $5 Million
Clients: Vodafone, Coca-Cola, UniCredit, Heineken
Services Offered:
- Native Mobile App Development
- UI/UX Design
- QA and Testing
- Product Business Analysis
Verdict: Adonis Software is a company that suggests you choose if you wish to develop a natively-built financial application for iOS and Android. Their emphasis is on product analysis, which means you can rely on them to build a financial product that caters to your customer base.
Hourly Rate: $50-$99/Hr
Min Project Size: $25000+
Website: Adonis Software
#7) UppLabs
Best for native apps and software development.
UppLabs has been in the business since 2014 and has made quite a name for itself in the FinTech, Real-estate, and healthcare industries. The company is home to expert developers who specialize in the design of both mobile and web-based applications.
They’ve helped many enterprise finance companies close the gaps in their customer service by delivering intelligently engineered financial products. The team of UppLabs has been behind many expertly crafted monetary transactions and online trading platforms.
Founded: 2014
Headquarters: Harrisburg Pennsylvania
No. of Employees: 11 – 50
Revenue: $5 Million
Clients: Recap Investing, LimeHome, Wellbit, List Assist
Services Offered:
- Web and mobile app development.
- Payment System Integration.
- AI-Based FinTech solutions.
- Money transaction platform development.
- Online trading platform development.
Verdict: From AI-based FinTech solutions to the development of imperative financial products, UppLab is a fantastic company that you can approach to develop seamless FinTech web and mobile applications. If custom IT solutions are what your finance enterprise needs, then this company should be on your radar.
Hourly Rate: $25-$49/Hr
Min Project Size: $25000+
Website: UppLabs
#8) BrainCode
Best for UI/UX design.
After reviewing BrainCode’s long portfolio, one thing became crystal clear to me. BrainCode has some of the best UI/UX design experts in the world working for them. They’ll develop a UI design that is user-friendly and exceptionally functional.
You can reach out to them to build financial products in the form of web applications or cross-platform mobile solutions. Besides FinTech software development, the company also specializes in developing online marketplaces from scratch.
Founded: 2015
Headquarters: Poland
No. of Employees: 11 – 50
Revenue: $1-5 Million
Clients: Sphira, Format, LocalFuchs, Brainjobs
Services Offered:
- Mobile and web app development.
- UI/UX Design.
- Online Marketplace Development.
- Product strategy ideation.
Verdict: BrandCode is a relatively new player in the market. However, don’t let that dissuade you from trying their services. They’ve worked on some of the best UI/UX designs. Approach them if you are seeking full cycle web apps or mobile app development for FinTech products.
Hourly Rate: $25-$49/Hr
Min Project Size: $10000+
Website: BrainCode
#9) Altamira
Best for accelerated Digital product development.
Altamira is a decent FinTech software development company that is famous for its ability to deliver digital products as quickly as possible. They do what you’ve come to expect from companies of their nature by now. They specialize in the development of both mobile and web-based applications.
What I really like about Altamira is the fact that they are skillful enough to not rely on their client’s existing legacy system. This is one reason that makes them capable of delivering products at a really fast pace.
Founded: 2009
Headquarters: Ukraine
No. of Employees: 51-200
Revenue: $20 Million
Clients: AIFP, Sandoz, Amgen, CSL Behring
Services Offered:
- Web and mobile app development.
- Accelerated development.
- Custom ERP Development.
- Quick to market MVP development.
Verdict: If accelerated development of financial products is what you seek, then Altamira is the company you need. They are responsive to companies and were quite impressed with their track record of serving numerous clients across the industrial domain.
Hourly Rate: $25-$49/Hr
Min Project Size: $50000+
Website: Altamira
#10) CML Team
Best for high-quality blockchain and FinTech-related solutions.
CML Team has been catering to a wide range of industries with its web and mobile application development services. However, what they’ve accomplished in the field of FinTech is impressive. They are great at developing digital products that cater to investors, buyers, sellers, and taxpayers.
Founded: 2018
Headquarters: London, England
No. of Employees: 51-200
Revenue: $16 Million
Clients: Block Pit, Bison, EZChoice, FODL
Services Offered:
- Web and Mobile App Development
- Taxation platform
- Accounting Software Development
- Blockchain platform development
Verdict: CML Team offers cost-effective FinTech software development services to start-ups as well as large enterprises. With a positive track record of catering to various FinTech enterprises, this is a company you can trust to develop custom IT solutions at an affordable rate.
Hourly Rate: $50-$99/Hr
Min Project Size: $10000+
Website: CML Team
#11) IT Craft
Best for trading software development.
IT Craft serves as the go-to hub for people who wish to develop powerful online trading software. They can develop custom trading software that adheres to the required compliance and regulatory standards. The solutions they develop are known for their world-class UX and excellent analytical capabilities.
They also have an impressive track record of developing platforms for currency and crypto exchange as well.
Hourly Rate: $50-$99/Hr
Min Project Size: $10000+
Website: IT Craft
#12) STX Next
Best for building FinTech solutions in Python.
Python is considered a safe framework to build FinTech solutions. This is precisely why STX Next is on my list. Known as one of Europe’s largest Python houses, this is a company you can approach for accelerated development of both mobile and web-based applications.
The company is in a relationship with over 450 developers and QA experts. Rest assured, your project is in safe hands with them.
Hourly Rate: $50-$99/Hr
Min Project Size: $10000+
Website: STX Next
#13) Chili Labs
Best for best-in-class mobile app development.
Chili Labs is a company whose growth I’ve been closely monitoring. That’s because I’ve yet to find a client of theirs that has anything to complain about the cutting-edge financial products they develop. The company specializes in leveraging reactive programming paradigms to develop iOS and Android native apps along with performing some crucial QA work.
Hourly Rate: $50-$99/Hr
Min Project Size: $10000+
Website: Chili Labs
#14) Eleks
Best for application development and re-engineering.
Eleks is a software development company that serves a broader spectrum of industries alongside its catering to the FinTech domain. This is a company that you approach to create FinTech solutions from scratch or let them onboard an existing project so they can re-engineer and boost their efficiency.
With many accolades to its name, Eleks is a highly-respected company that you can approach for cost-effective development and design.
Hourly Rate: $50-$99/Hr
Min Project Size: $50000+
Website: Eleks
#15) Sloboda Studio
Best for software development for SMBs.
Sloboda Studios is a company that specifically caters to the software development needs of small and mid-sized enterprises. It is hailed as one of the best rubies on the rails developers in the market.
If custom FinTech software development that is powered by the latest AI solutions is what you seek, then Sloboda Studios should definitely make it to your checklist.
Hourly Rate: $25-$49/Hr
Min Project Size: $25000+
Website: Sloboda Studio
Conclusion
Businesses today need to understand that customers have long moved away from the trappings of a traditional financial system. They yearn for the agility and convenience that virtual financial products offer. Digital transformation of banking, trading, taxation, etc. is key for an enterprise financial firm to survive in today’s world.
This is why FinTech software development companies today are so important. These are companies that are accelerating the transition to complete digitization. If you wish to capitalize on this fervor for digital products in finance, then waste no time in calling any one of the FinTech solutions companies I’ve listed above.
As for our recommendations on Best FinTech Software Development Companies, if full-cycle product development of web, mobile, and cloud-based financial applications is what you seek, then by all means opt for iTechArt.
Research Process:
- We spent 12 hours researching and writing this article so you can have summarized and insightful information on which FinTech Software Development Companies will best suit you.
- Total FinTech Software Development Companies Researched: 36
- Total FinTech Software Development Companies Shortlisted: 15