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RNDpoint FinTech Development Company

FinTech Apps Development by RNDpoint

RNDpoint specializes in building FinTech apps for startups and small and medium-sized businesses. Since 2014, we’ve been helping companies implement innovative projects, regardless of the level of complexity.
On the FinTech market
Successfully completed projects
Experts with in-depth FinTech expertise
Average time-to-market

How we help businesses develop FinTech apps

We take care of all app development tasks: from business analysis to adaptation to target user requirements and market trends. We have deep expertise in all areas of the FinTech industry: trading and eWallets, lending and scoring, digital payments, and much more.

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How we help businesses develop FinTech apps

Stages of FinTech app development by RNDpoint

How much does it cost to create a FinTech application?

The development cost depends on your project’s features: the scale and duration, industry specifics, and the number of functions. That’s why an individual approach is important. We calculate the cost of each project based on its unique characteristics.

Find out the development cost
How much does it cost to create a FinTech application?

The ultimate guide: how to build a FinTech app


According to a report by Allied Market Research, the FinTech market was $110.57 billion in 2020 and is expected to reach $698.48 billion by 2030. So, what does this mean for your business? If you’re looking to invest in development, it’s worth starting today for more growth opportunities.


A brief overview of the FinTech industry

The rapid growth of the industry is related to the desire of financial companies to digitize and automate their services. The goal is clear: improving consumer interaction and increasing process transparency. To achieve this goal, companies actively use the extensive capabilities of AI, blockchain, data analytics, and APIs.

According to the statistics above, CAGR will increase by an average of 20.3% from 2021 to 2030. The following trends are projected for this period:

  • By deployment mode: On-Premise promises to maintain its leadership in competition with Cloud.
  • By application: The Payment & Fund Transfer segment will dominate the market.
  • By technology: Data Analytics and AI stand out from other technologies.
  • By end user: The banking user segment will account for the largest share of the market, followed by the Insurance sector.
  • By region: The highest CAGR (22.1%) is expected in the Asia-Pacific region.

The pandemic has had a significant impact on the market, with more and more companies looking to offer online and digital products to consumers. This not only increases security but also reaches a wider audience while reducing the cost of delivering services.

In addition to pandemic restrictions, experts highlight the following factors as influencing the industry:

  • The desire of regulators in Europe, the US, and Asia-Pacific to support FinTech innovation, which is driving growth.
  • Active investment in developing countries in AI, ML, and Big Data creating a favorable environment for industry companies.

There is also the constraint of conflicting standards and regulations across jurisdictions. However, financial technology continues to grow and is a serious competitor to traditional methods of service delivery.

As you can see, it is really profitable to build a FinTech app. All you need to do beforehand is decide which direction you want to go.


Types of FinTech applications

There are many options for apps, and they all have a good chance of advancing in a highly competitive market.

Loan Origination System

Such software as Loan Origination Systems automate the whole loan process from A to Z. These solutions can work with little to no human interaction and ensure personalized offers for financial organizations’ customers. 

ABLE Platform ensures scalable loan management software for financial organizations. It helps automate the entire loan lifecycle from origination to collections.

Digital Banking apps

With online and mobile banking, customers can manage their accounts and control their finances without visiting a branch. All services are available: account opening, loans, deposits, money transfers, payments, and consultations. Probably all major banks have such apps.

Chase Mobile is an app owned by Chase Bank, a subsidiary of J.P. Morgan Chase.

Neo banking

We are talking about non-traditional banks that operate virtually, without offices, and sometimes without ATMs. The website and mobile app are essentially its “offices.” Customers get access to banking services and communicate with consultants exclusively online. 

Chime is one of the most popular representatives of neo-banking, now operating in the U.S. and having more than 14 million clients.

Digital Payment Processing

Such apps process payment transactions on behalf of the company. Users can pay for goods and services with bank cards, mobile wallets, online banking, or other digital methods. This increases transaction transparency and reduces risk.

PayPal is the largest payment system for paying purchases and bills and receiving and sending money transfers.

Trading and Investment apps

The solutions are designed for all investors, regardless of their experience. With such an app, you can invest as well as manage your personal finances and investments in a single space. Popular types include Robo-Advisors, Robo Retirement, Digital Brokers, and Algorithmic Trading

Robinhood is a mobile app for investing and trading stocks without commissions.


Innovative solutions are breaking the stereotype of insurance as a paper-based industry. Digitization accelerates the launch of new products, expands electronic payment methods, and simplifies risk assessment and claims handling. For policyholders, it is an opportunity to manage their own claims.

Lemonade is an app based on AI algorithms to provide adjustable coverage for homes, cars, pets, personal property, and more.


The latest regulatory technology is designed to meet the industry’s regulatory requirements more quickly and efficiently. This tool is essential for all participants in the financial markets. Its value increases when you consider the regular changes in legislation. 

Acuant is a solution, and one of its tasks is to optimize global regulatory compliance.

Personal Finance

These programs are designed for budgeting. They are aimed at users who want to control expenses and see what they spend more money on. You can set goals, link bank accounts, and in some cases, even get tips on how to save money.

YNAB is a budgeting app that gives you complete control over your personal finances.

Tax Filing and Management

These solutions cover the processes of preparing and filing tax documents. They can be targeted at both individuals and businesses. The app fills out tax forms automatically based on data, notifies about errors, and electronically submits documents to the appropriate authorities.

TurboTax is a program for preparing and filing tax returns online via mobile device.

Whatever option you offer your clients, you can be sure that it will positively impact your profits and reputation.


Benefits of FinTech Application Development

To build a FinTech app is the right decision if you aim for long-term benefits. Consider the four key benefits from your business perspective.

Expand market coverage

Because the apps are designed for smartphones and tablets, you’ll reach a wide mobile audience. Customers can perform necessary operations anytime, such as managing insurance claims (insurtech solution) and trading securities (trading).

Timely resolution of customer problems

You can quickly adapt to your audience thanks to digital technology. Evaluate user activity in the app, then customize your services/products (e.g., if it’s digital banking) and update functionality to meet their current needs.

Attract and retain customers

In addition to fast service, the app delivers a personalized user experience through AI and big data. This increases customer loyalty and motivates them to continue using the product or to work specifically with you.

Strengthen the competitive position

You can’t stay on trend in the digital age without using technology. A multi-functional and customized app will give you a serious edge over your competitors. Especially over those still using traditional methods.

Do you want to build a FinTech app that will be really useful for your customers and, therefore, profitable for your business? Then think carefully hard its functionality.


Key features of FinTech apps

To increase the value of your product, you must incorporate the following features:

KYC: secure authentication

Users should be able to create an account and customize the app for themselves. It is especially important to guarantee data security. You can implement two-factor authentication, facial and/or fingerprint recognition, encryption, and other secure methods.

Basic functions to perform operations

The core of your product will be the functionality designed to perform certain financial operations. Its specifics depend on the type of app you have chosen and its target audience. For example, money transfer (payment service), investment management (wealth tech solution), etc.

Scan QR code

This feature allows users to scan the QR code with their phone’s camera instead of manually entering the card numbers. It’s a faster and more convenient way to avoid errors. This feature in the app will positively influence the loyalty of your customers.


The notification system is one of the main components of a mobile solution. It is how the connection between the app and the user will be maintained. We are talking about informing about the receipt/discharge of funds, fraud alerts, and newsletters.


Users will definitely appreciate the ability to track their financial activities. For example, to view transaction history, control expenses, and set goals to reduce them. The data can be used to make informed financial decisions.


Easy-to-understand dashboards are a necessity for such a solution. This is where analytical data, spending/payment history, and stock charts are displayed in a convenient and visually appealing format. You can generate reports, save them if necessary or share them.

Smart Assistants

Ideally, your solution should include virtual assistants and a chatbot. They are AI-powered and help users understand the functionality faster and learn more about the company’s current services and terms. This is an opportunity for you to simplify customer service and support.


The product must integrate with third-party services and systems. This way, the functionality can be extended and adapted to the users’ needs. Such integrations include mobile payments, geolocation, crowdfunding, etc. For example, connecting to PayPal allows you to pay for purchases around the world.

And now to the main question: How to build a FinTech app?


7 steps of FinTech application development

By turning to industry solution development professionals, you can achieve your goal in seven steps. Here’s how the product creation process works: 

  1. Market research. The first step is to get to know your project, its niche, and its target audience. This is done by an analyst who collects, systematizes, and interprets your requirements, which become the basis for planning.
  2. Planning. Based on the data you provide, the scope of work is estimated, and a plan is made. The monetization model (subscription, transaction fees, ads, paid API access) and technologies are also chosen. Tech stack includes programming languages (JS, Java, Ruby, Kotlin, Swift, TypeScript), frameworks (React, React Native, Node.js, ROR, Angular, Vue), and databases (PostgreSQL, MySQL, MongoDB, Redis, etc.)
  3. Team building. Specialists who can provide maximum benefits for the project are involved. Designers, developers, QAs, DevOps engineers, and PMs must have experience in a particular niche.
  4. Function prioritization. Considering the needs of the target audience and your wishes, specialists choose the most valuable functions. First, you should develop secure login, notifications, tools to perform certain financial transactions, intelligent assistants, and analytics. 
  5. UI/UX design. At this stage, specialists create an attractive interface and pay attention to all aspects that determine the quality of the user experience. The product must be simple, user-friendly, and easy to understand.
  6. MVP development. This is essential because it allows target users and investors to become familiar with the product’s key features. This minimizes the risks of your idea being unprofitable.
  7. Testing and improvement. MVP is tested with real users. Based on the feedback, new features are added, and existing features are improved. This continues until you get a better result.

You should understand that the only way to achieve a combination of speed and quality is to work with an experienced IT team that has deep industry expertise. Such a company will adapt to your requirements and calculate the project’s cost in advance.


The cost to build a FinTech app

The cost depends on many factors: the scale and duration of the project, the complexity of the tasks, the number of functions, and the need to implement innovations, such as big data, AI, and ML. The type of product plays a determining role. 

Next, let’s consider how much it costs to build a FinTech app, based on an average hourly rate of $35 in Eastern Europe, one of the most popular regions for software outsourcing.

As an example, let’s analyze the standard functions of a banking app:

FunctionsDevelopment time (hours)Costs ($)
User Profile752,625
Bill payments1003500
Account activity551,925
Card Management702,450
ATM & bank locator903150
Admin panel32011,200

The cost will vary according to the number and specifics of the functionality. Based on our experience, the credit app takes about 1,210 hours ($42,350), and the investment application takes 1,250 hours ($43,750). The insurance application will take more time, 1,320 hours ($46,200). 

Remember that everything is individual and depends on the specifics of your project. If necessary, we can calculate the cost for you.


How can RNDpoint help you in development?

Our software development company has been specializing in the development of FinTech solutions since 2014. We help companies implement innovative ideas and bring products to market as quickly as possible without sacrificing quality. 

Our team consists of 250+ technical specialists. We work with projects of all sizes and levels of complexity from different areas: lending, trading, digital payments, mobile banking, and more. 

RNDpoint is a reliable partner for startups as well as for major market players, including banks, lending institutions, and investment companies.



Waiting for a better time to build a FinTech app? This is the right time! The sooner you present your product to the public, the more chances you have to gain a decent competitive position in the market. 

The main thing is to choose a professional approach to development and cooperate with a reliable software development company.


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