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Financial Software Development: The Future of Banking is Digital

Financial and banking custom software development services cover the technological needs of this heavily regulated and dynamic sector. All modern banks and financial institutions need fintech software development solutions in order to enhance efficiency, automate the daily operations, enable real-time transactions, ensure robust security of critical data, and facilitate data analysis for informed decision-making.

From online banking or e-banking platforms to mobile apps, risk management systems and customer relationship management solutions, financial custom software development plays a crucial role in transforming the way banks operate and connect with their customers.

Banking of Things

The amalgam of the financial sector and the Internet of Things creates the possibility to deliver a more personalized interaction with customers, ensuring a frictionless, rich, and secure customer experience. The use of interconnected devices and sensors helps collect, transmit, and analyze data that further improves the operational efficiency and risk management strategies of the banking sector.

Blockchain in Finance

Blockchain is a core technology in financial software app development. It addresses such issues as the reliance on centralized systems, high operational costs, and slow processes. Blockchain technologies help transform the financial sector by enabling faster transactions, crypto lending, regulatory compliance thanks to immutability, digital identity creation, and creation of new funding models.

AI/ML in Finance

AI and ML technologies work with vast amounts of data. The finance and banking sector boasts an abundance of data. Hence, using AI- and ML-powered tools for financial custom software development will greatly simplify the daily processes and tasks of banking institutions, simultaneously, creating more convenience for their customers: from fraud detection, advanced analytics, predictive modeling to automated transactions, robo-advisors, and chat interface - AI and ML technologies have the power to revolutionize the banking sector.

Digital Brokerage

Leverage modern technologies to connect insurers, brokers, current policyholders, and prospective clients within a system that boasts operational efficiency and ensures productivity. A digital brokerage entails automated business processes and a paperless environment that will save time and finances.

Our Custom Financial and Banking
Software Development Services

  • IT Consulting for Banks and Financial Firms

  • Fintech Custom Software Development

  • Proof of Concept and MVP Development

  • Cloud Migration in Finance and Banking

  • Fintech Mobile App Development

  • Financial and Banking App Modernization

  • Equities Trading Platform Development

  • Insurtech: Insurance Software Development

Our team of expert business analysts will provide you with a comprehensive consultation to help you understand how our financial software development services can up the game of your banking or financial organization, improving operational efficiency and delivering better customer experience. We will thoroughly examine your business goals and the outcomes you expect from your software development investments and offer you a tailored solution that will future-proof your organization in the evolving technology landscape.

Tell us the financial software solution idea you have in mind, and our tech team will come up with the right offer for you. We will design a clear roadmap that covers all aspects of the process, from ideation and planning to implementation and maintenance. Our extensive experience in fintech development makes us the perfect partner for you. Whether you want a web-based digital banking solution, an enterprise desktop application, or a mobile application, we deliver on time and on budget. We are equipped with the experience of successfully delivering online banking portals, customer communications management platforms, document processing solutions, fraud monitoring and detection systems, and risk management systems.

Do you want to allocate your budget more efficiently, with a focus on product value? If so, then consider Proof of Concept or MVP development for your financial organization’s needs. Our team will develop an early version of your fintech software application with its core features and functionalities. This will allow you to assess the viability of the new software tool, identify the technical challenges, make a quick market entry, validate market demand, and refine the product before making larger investments.

Cost efficiency, scalability, innovation, security, disaster recovery with reliable backup solutions, enhanced teamwork and data accessibility, better customer experience - the list goes on. Our team will help you migrate your financial data and applications to the cloud in order to reap all the listed benefits and more. We will assess your current on-premises system and suggest the best way for seamless cloud adoption. Based on your budget and long-term goals as well as existing business operations, we will recommend both the right cloud migration services provider and the proper migration strategy for your specific case.

Mobile-first is the future. Even for the banking sector. If you haven’t gone mobile yet, we have got your back here too. Our experienced mobile app developers will build a cutting-edge and user-friendly mobile application tailored specifically for your financial organization. From mobile banking and payments integration to fraud monitoring and detection, customer identity verification, and real-time microloans, as well as real-time financial insights - our team will deliver based on your project needs and specifications.

There has never been a better time for your banking or financial organization (insurance, investment, lending, digital brokerage, etc.) to embrace the flexibility, agility, and cost efficiency of software application modernization. Legacy software is holding you back - it is expensive to maintain, and there are few tech specialists left willing to do it. It slows down your financial operations resulting in poor customer experience, and it is not immune to the ever-increasing security threats. Let our team take charge of your legacy application modernization and help you enhance functionality, optimize your business processes, and save money.

Trading is now easier with software technologies. Let us help you streamline your trading process, carry out seamless transactions, and get access to real-time market data securely. Our expert team will ensure continuous monitoring and reporting, a configurable platform to meet your agency’s specific needs, real-time backup, and redundant, disaster-proof storage integrity.

Streamlined policy management, claims processing, and underwriting - whatever features your insurance organization requires, our expert tech team will craft custom software solutions, tailored to your specific needs. With our expertise, you will be able to reduce operational costs and stay ahead in the rapidly evolving landscape of insurtech.

Our team of expert business analysts will provide you with a comprehensive consultation to help you understand how our financial software development services can up the game of your banking or financial organization, improving operational efficiency and delivering better customer experience. We will thoroughly examine your business goals and the outcomes you expect from your software development investments and offer you a tailored solution that will future-proof your organization in the evolving technology landscape.

Tell us the financial software solution idea you have in mind, and our tech team will come up with the right offer for you. We will design a clear roadmap that covers all aspects of the process, from ideation and planning to implementation and maintenance. Our extensive experience in fintech development makes us the perfect partner for you. Whether you want a web-based digital banking solution, an enterprise desktop application, or a mobile application, we deliver on time and on budget. We are equipped with the experience of successfully delivering online banking portals, customer communications management platforms, document processing solutions, fraud monitoring and detection systems, and risk management systems.

Do you want to allocate your budget more efficiently, with a focus on product value? If so, then consider Proof of Concept or MVP development for your financial organization’s needs. Our team will develop an early version of your fintech software application with its core features and functionalities. This will allow you to assess the viability of the new software tool, identify the technical challenges, make a quick market entry, validate market demand, and refine the product before making larger investments.

Cost efficiency, scalability, innovation, security, disaster recovery with reliable backup solutions, enhanced teamwork and data accessibility, better customer experience - the list goes on. Our team will help you migrate your financial data and applications to the cloud in order to reap all the listed benefits and more. We will assess your current on-premises system and suggest the best way for seamless cloud adoption. Based on your budget and long-term goals as well as existing business operations, we will recommend both the right cloud migration services provider and the proper migration strategy for your specific case.

Mobile-first is the future. Even for the banking sector. If you haven’t gone mobile yet, we have got your back here too. Our experienced mobile app developers will build a cutting-edge and user-friendly mobile application tailored specifically for your financial organization. From mobile banking and payments integration to fraud monitoring and detection, customer identity verification, and real-time microloans, as well as real-time financial insights - our team will deliver based on your project needs and specifications.

There has never been a better time for your banking or financial organization (insurance, investment, lending, digital brokerage, etc.) to embrace the flexibility, agility, and cost efficiency of software application modernization. Legacy software is holding you back - it is expensive to maintain, and there are few tech specialists left willing to do it. It slows down your financial operations resulting in poor customer experience, and it is not immune to the ever-increasing security threats. Let our team take charge of your legacy application modernization and help you enhance functionality, optimize your business processes, and save money.

Trading is now easier with software technologies. Let us help you streamline your trading process, carry out seamless transactions, and get access to real-time market data securely. Our expert team will ensure continuous monitoring and reporting, a configurable platform to meet your agency’s specific needs, real-time backup, and redundant, disaster-proof storage integrity.

Streamlined policy management, claims processing, and underwriting - whatever features your insurance organization requires, our expert tech team will craft custom software solutions, tailored to your specific needs. With our expertise, you will be able to reduce operational costs and stay ahead in the rapidly evolving landscape of insurtech.

Our Success Stories in the Fintech Industry

Your Custom Fintech
Software Development Company

18 Years of Experience
5+ Years Average Project Length
300+ Employees, 40% Women
5/5 Clutch Rating
100% Delivery Rate

Client Testimonial:
Finance in Motion

Finance in Motion

Our Cooperation Models

dedicated_teams

Dedicated Teams

Dedicated Teams

Assemble a dedicated team of experienced developers, UI/UX designers, and QA specialists instead of wasting time and money on the traditional in-house hiring process. We will help you ensure a swift setup of your remote tech team that will kick off the development and implementation of your fintech software project right away.
project-outsourcing

Project Outsourcing

Project Outsourcing

Let our expert tech outsourcing team take full responsibility for the execution of your fintech software development project. While you focus on your core business operations, we will make sure to deliver you a software solution that will further enhance your daily operations, optimizing your organization’s business processes and improving customer experience.
staff-augmentation

Staff Augmentation

Staff Augmentation

We will help you address the tech skill gaps you have within your financial or banking organization to meet your fintech software development project’s demands and accomplish tasks on time and on budget. Our tech experts will work closely with your internal team, bringing a fresh outlook and experience to the table. Our experts will easily integrate with your team and help you build a functional and intuitive fintech software app.

FAQ

What are the benefits of digital transformation and custom software app development for the fintech sector?

There are multiple benefits to fintech software app development:

  • Cost efficiency through the reduction of manual and paper-based processes which lead to optimized resource distribution.
  • Improved customer experience and satisfaction thanks to the personalized experience that custom-built fintech software apps bring to the table. 
  • Operational efficiency achieved through the elimination of manual errors and increased productivity. 
  • Robust protection of sensitive financial and banking data. 
  • Scalability, allowing banks and financial firms to adapt the financial software apps to their growing user base, transactions, and data volume. 
  • Easy integration with existing systems and third-party services.
  • Innovative data analytics solutions that enable access to such insights as customer behavior, market trends, and business performance. 
  • Advanced risk management functionalities that help fintech firms detect and mitigate potential risks before it is too late. 
  • Competitive advantage thanks to the rapid adaptation to market changes and the introduction of new fintech software tools and solutions.
What are the challenges of adopting software solutions in the fintech industry?

Here are the main concerns and challenges of implementing software solutions in financial and banking organizations:

  • Regulatory compliance because of the complexity of keeping up with and adhering to the frequently changing laws and regulations.
  • Security concerns - the number of cyber attacks on financial institutions has been skyrocketing, increasing from 34% in 2021 to 64% in 2023. 
  • Handling the legacy systems, integrating them with new fintech software applications, or choosing the right strategy to have them modernized. 
  • Fintech collaborations are another challenge - it can be hard to keep collaborating successfully with traditional financial organizations when you have switched to using innovative technologies in your firm. 
  • Operational disruptions while the software is in the process of design and development.
How much do financial software development outsourcing companies charge for fintech software application development?
The cost of custom financial or banking software development services depends on the technical requirements and the specifications of the product that you want to have: the scope, number and complexity of its features, user base, integrations, regulatory compliance requirements, security requirements, platform compatibility, QA needs, etc. If you want to know the exact price of your fintech software solution idea, feel free to contact our team and we will gladly look into the details of your project and get back to you.
How long will it take you to develop a custom fintech software solution?
The time required to develop a custom fintech software application varies from project to project and depends on the type of your future product, its complexity, features and functionalities, the tech stack required to build it, and other relevant factors. Reach out and let us take a closer look at your fintech project idea in order to determine the approximate time needed for its development.
It looks like you have never built a product similar to the one I have in mind. What are the chances that you can help me?
The experience and expertise of our consulting team allows us to extract the essence of your business needs. Based on your specific requirements, we will design an actionable roadmap and deliver a software product that solves your business challenges. Set up a call with our team and let our experts assess the specifications of your project.
Does my organization need to be a financial or banking service provider to partner with VOLO?
No. Fintech is a broad category. We can cater to the financial software development needs of various businesses, e.g., building a custom payment system for a travel and hospitality business.
Why should I choose VOLO?

We know that there are numerous software development outsourcing companies you can choose from - the selection is wide. However, we believe that certain values and principles make VOLO stand out in the market. We don’t act as a mere service provider for our clients, that’s why we call our collaboration a partnership, a mutually beneficial partnership built on trust, loyalty, and teamwork. This approach has been the secret to our long-lasting partnerships with organizations of various backgrounds. 

Here are a few more reasons why you should choose VOLO for your financial software project development: 

  • Extensive fintech expertise - we have been developing fintech solutions for well over a decade for established enterprises as well as industry up-and-comers. Our multi-year contracts are a testament to the quality of our apps and the durability of our relationships with our partner-clients.
  • Focus on security and compliance - we understand the vital importance of security and compliance in financial software, which is why we effectively secure your digital assets through security and vulnerability testing, fraud and malware protection, cloud security, and other security protocols.
  • Third-party integration - we are proficient in not only utilizing existing but also creating custom APIs to integrate your fintech solution with the needed third-party systems.
  • Agile implementation - our proficiency in Agile has resulted in our 100% project delivery rate over the years. The financial industry has to adapt to change now faster than ever before, which is why you need a company that knows how to select the framework and methodology that works best for your fintech project.
  • Top tech talent employer - our rigorous hiring process ensures that all VOLO employees are not only technically talented, but also have the necessary soft skills to guarantee your peace of mind and success. What you’ll get with us is a dedicated fintech development team that will scale up or down according to your needs.
  • Business discovery workshops - our workshops enable you to achieve maximum impact by helping you define and refine your ideas before embarking on development.
  • Solid system architecture - selecting a tech stack and the right architecture for your fintech app are some of the most difficult decisions you will have to navigate. We’ll help you lay the right foundation for your app through an architecture that ensures the agility and scalability you need to compete in the fast-paced financial realm.

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