Digitalization worldwide has taken over almost all sectors including Fintech. Technologies are being embraced to integrate into Fintech app solutions to meet new trends and challenges to fulfill customers’ expectations.

Considering the facts that the total transaction value of the digital payment market is estimated to value at US$2041 bn in 2023 and it will increase at a 14.66% CAGR leading to a forecasted amount of US$3528 bn by 2027.

With the relentless growth of the fintech industry, the competition is also higher than in other industries. Not only competition but this industry is also offering enormous opportunities to businesses that are investing in the same.

If you are looking to go for financial service app development, you must focus on the different essential things as developing a fintech app is not like a cakewalk. There is N number of things that you must look upon to create an efficient solution. Whether it is due to not being proficient and experienced in the developed sector, a lot of start-ups end up being a victim of non-dependable app development companies.

Therefore, in the below article, we have compiled all the essential points necessary to consider while developing a fintech app.Let’s get through this complete guide to know about how to create a fintech app, its costs, different types of Fintech Apps, and others.

What is Fintech App?

Fintech is a fascinating term that is used nowadays to denote both finance and technology. It refers to the innovative use of technology to build a financial app. Fintech encompasses a wide range of advanced and innovative applications, services, and platforms leveraging modern-edge technologies to manage and enhance financial activities.

Fintech intentions to transform traditional financial systems by offering users more accessible, efficient, and user-friendly solutions.

Fintech solutions involve diverse subjects such as online banking, mobile payments, peer-to-peer lending, blockchain-based transactions, robo-advisors, digital currencies, and Insurtech. These innovations provide businesses and individuals with greater speed, convenience, and cost-effectiveness to manage their finances and avail themselves of financial services.

Moreover, Fintech has introduced groundbreaking approaches to data analysis, risk assessment, and automation increasing the efficiency and accuracy of financial operations.         

Why Should You Invest in Fintech App?

Many start-ups and established businesses have developed their interest to know how to develop a fintech app, but do you know why firms are curious to invest in the Fintech market? It is one of the profitable markets at present.

As per the sources, 64% of consumers have adopted two or more than those fintech solutions for different platforms. Current stats show that COVID-9 has contributed a lot to the industry.

We have compiled some information about the fintech market, right from the number of start-ups in this segment to differentiation according to the region and top fintech segments. Have a look-

Some of the important markets stats to know-

  • The market of financial services is forecasted to reach $26.5 trillion by the year 2022 globally.
  • The global fintech market share is predicted to evolve at 23.58% CAGR between 2021 to 2025.
  • Artificial Intelligence is a powerful technology that has a 38.25% market share in the fintech market in 2019.
  • Regulatory technology (Regtech) and Blockchain are the fastest-rising sectors of the fintech industry.
  • P2P (peer-to-peer) or digital lending, the second-largest segment in the fintech market has valued at $43.16 billion in the year 2018 and it is forecasted to rise to $567.3 billion by 2026 at 26.6% CAGR.

Below we have provided a graph that represents the number of Fintech start-ups dThe below graph shows that there were 11.651 fintech startups in the Americas in May 2023 making it the area with the most fintech ventures worldwide. Comparatively, there were 9681 fintech ventures in Europe, the Middle East, and Africa (EMEA) regions and 5061 startups in the Asia Pacific Region.

How Much Does It Cost to Build a Fintech App?

Whether you have a large-scale organization or run a start-up, the cost to develop a mobile app is always a major turning point for everyone. Each business has its own goals, mission, and vision but they all don’t want to go out of budget when it comes to the cost.

Here, we will discuss how much does fintech app cost depends on various factors comprising complexity and features of the app, required team structure and tech stack, experience, and location of the chosen fintech app development company, third-party API Integration, etc. These factors are helpful to determine the cost of FinTech app development.

Based on these diverse aspects considered by the fintech software development company, the overall cost to develop a Fintech app would be around $40,000 to $1,50,000 with all the required features and functionality. To have a cross-platform Fintech app with the best in-class features, this budget will go higher.

Different Fintech App Development Costs

When it comes to knowing about the Fintech app development cost, first you have to decide which types of app you want to build. For this, you can have a detailed discussion with the mobile app development company you are going to choose or analyze the market for specifics.

Let us tell you that the Fintech industry is widely expanded and currently, businesses are focusing on customer-oriented applications. Hence, you must go for the one that can fulfill the customers’ expectations. Here are some different types of Fintech applications with their costs, have a look-

1. Banking App Development Cost

A banking app is specifically designed to revolutionize the way people manage their budgets and finances. Users can manage their different bank accounts to send or receive money to any third party. There are various businesses nowadays that go for mobile banking app development to become more viable and make their services more convenient and faster.

A banking app provides more facilities to users along with integrating multiple payment services such as Google/Apple Pay or PayPal. Monese and Starling are two popular mobile banking applications that you can take reference from. These apps enable users to have hassle-free money transfers, real-time transaction notifications, and instant payments.

If you want to know the cost to create a fintech app like Staring or Monese, let us tell you it will range between $50,000 and $150,000.

2. Digital Payment App Development Cost

A mobile payment app is known as a software application to facilitate users to make all types of financial transactions via their mobile phones or smartphones. These apps store entire details of customers including bank account details, payment card information, or digital wallet details to enable app users to make quick and secure payments or pay bills.

PayPal, GooglePay, etc. are such mobile banking applications that you can consider as top mobile apps and are incredibly popular worldwide. These apps include features such as different payment modes, view transaction history, accept cryptocurrency, and more. Slowly, these apps have replaced all the conventional modes of payments and have become a secure and fast alternative to making transactions.

The cost to develop a mobile payment app will be from 35,000 to $60,000 if you are thinking of developing a mobile payment app like PayPal.

3. Lending App Development Cost

A fintech lending app allows you to access convenient and quick loans online. Both borrowers and lenders can communicate through the app easily to discuss the terms and conditions of the loan. You can also create a money lending app that performs as a peer-to-peer platform and helps to remove manual work.

Apps like PaySense, Dave, and EarnIn incline in this category and have features like billing, easy-to-fill load app forms, additional rewards/offers, credit score checker, and others.

If you hire a top-notch fintech app development company, the loan lending app development cost will be between $40,000 and $100,000.

4. Consumer Finance App Development Cost

These types of applications come intending to help consumers with the management of their expenses, forecast future savings, and save money in the present rather than providing core payment processing services. These apps include various types of functions such as expense tracking, budgeting, tax preparation, bill reminders, and credit monitoring apps.

Mint and PocketGuard are apps that are appropriate to count as consumer finance apps ranging from educating consumers by giving detailed information and proposing digital accounting operations for better finance management.

The estimated consumer finance fintech app development cost will go from $60,000 to $120,000.

5. Insurance App Development Cost

Insurance apps are used to fasten the claims processing, alleviating the insurance due to fraud, and policy administration. In the category of insurance apps, we can count on some popular apps like Lemonade, Policygenius, Geico Mobile, etc. These apps have features like a user-friendly interface, easy access, and varied insurance products customized to your particular needs.

These types of apps use advanced data analytics and machine learning algorithms so that users can enjoy personalized coverage recommendations and instant updates to save money in the right place.

If you are thinking of creating an insurance app then it will be cost you between $40,000 and $130,000.

6. Investment App Development Cost

An investment app is built to strengthen individuals to embark on their financial journey. These apps provide smooth access to a wide range of investment opportunities. With this app, users can efficiently explore bonds, stocks, cryptocurrencies, and more.

Popular investment apps like Robinhood, Wealthbase, and Acorns provide an intuitive and secure platform for users to portfolio management and make informed decisions based on that.

They also have integrated features such as portfolio rebalancing, automated investing, and goal tracking to become a game changer in the fintech realm. If you are going to enter the industry by having fintech app development services, let’s know about the app development cost first.

The cost of investment app development will be $60,000 to $110,000.

7. RegTech App Development Cost

RegTech stands for regulatory technology application and is mostly used by firms dealing with finance. It helps them to comply with the intricate regulatory requirements effectively. It assists businesses to leverage technological advancements such as machine learning, artificial intelligence, and automation to manage regulatory procedures, ensure regulatory compliance, and increase risk management.

PassFort, 6 Clicks, etc. can be counted as RegTech apps as these are helpful to automate and streamline risk identification, monitoring, and evaluation processes. With these, it is easier for businesses to check compliance as per the principles of AML (Anti-money laundering), KYC (Know your customers), and others.

Want to know the cost to build a RegTech app like PassFort or 6 Clicks? It will range from $50,000 to $120,000.

Have a look at the cost comparison table of different Fintech App Types-

Fintech App TypePopular App ExamplesEstimated Cost
Banking AppsMonese and Starling$50,000 and $150,000
Lending AppsPaySense and Dave$40,000 and $100,000
Consumer Finance AppsPocketGuard and Mint$60,000 and $120,000
Insurance AppsLemonade and Policygenius$40,000 to $130,000
Investment AppsRobinhood and Acorns$60,000 to $110,000
RegTech AppPassFort and 6 Clicks$50,000 to $120,000

Cost Affecting Factors of Fintech App Development

While having a fintech app development estimate, you must know that you can never get the exact cost to develop a fintech app. There are a wide range of factors that are responsible for affecting the cost and it is necessary to consider them.

Different mobile app development companies follow different processes when it is about ‘how to develop a fintech app’ and the applied development process is the biggest factor to fluctuate the overall cost.

To know how much does fintech app costs, let’s navigate to some of these considerable cost-affecting aspects-

  • App Requirements
  • App Platform Types
  • Design UI/UX
  • Development Team Location
  • App Maintenance
  • Numbers of Features
  • Third-party Integrations

1. App Requirements

App requirements are the foremost components needed to consider at the beginning of deciding the fintech app development cost. Factors such as scope of work, provided security, level of app complexity, etc. are considered to know how much it costs to build a fintech app. This factor refers to multiple things such as features to add, functions, and capabilities, necessary to meet the users’ requirements.

2. App Platform Types

Before hire fintech app developers, it is important to choose the platforms for which you want to develop an app. Choosing a single platform between Android and iOS will not cost you much, whereas if you want to go for cross-platform app development services, then you have to be prepared for higher fintech app development costs.

We recommend you get an app compatible with multiple platforms (Android, iOS, etc.) as it will help you get a large customer base.

3. Design UI/UX

Various fintech app development companies focus on app design first as they know it is the only way to grab the attention of target audiences in the beginning. But do you know designing an app UI/UX can impact the complete cost greatly? Designing an UI/UX directly impacts how the application looks and feels to users.

The app design process needs to comprise crafting and testing several design concepts to know which one of them works best for the app.    

Whether it is mobile banking, insurance, or cash advance apps, they all need to have an intuitive and appealing user interface.

4. Development Team Location

While finding the answer to how much does fintech app costs, it will be good to check the location of your chosen expert developers. The location of the development team can highly impact the cost to build a fintech app as developers from different regions have different development costs.

Thus, when you are going to build a fintech app, don’t forget to consider the size and location of the team to maintain the general cost. Below we have defined the average hourly cost of developers from different countries, have a look-

CountriesPer Hour Rate
Central & Northern Europe$35-$45
Western Europe$40-$60

5. App Maintenance

App maintenance is a vital factor that impacts the cost to develop a fintech application hugely, hence, you need to prioritize it. The app maintenance factor comprises various substantial like security enhancements, performance optimization, bug fixes, latest updates, server & infrastructure costs, regulatory compliance, API updates, and third-party integration updates.

Neglecting this aspect can lead to over-budget app development, bad user experience, security vulnerabilities, and many more. To maintain this cost, you need to hire mobile app developers who can ensure the app’s security, stability, and complete quality by investing in systematic maintenance.    

6. Numbers of Features

Just after you finish your juggling between multiple fintech app ideas, you must have thought about the necessary features as well. The number of features also impacts the cost hugely and that’s why it is significant to determine the list of features on a priority basis. Adding advanced features such as data encryption, payment processing, user authentication, real-time analytics, and third-party integrations can increase the fintech app development cost tremendously.

You need to do careful consideration when it comes to feature selection so that all the expenses can be managed while having a functional and competitive fintech application.

7. Third-Party Integrations

While obtaining fintech app development services, it is necessary to implement third-party services like banking APIs, payment gateways, or security providers that often need additional resources and development time. Just pay attention to these integrations as increased complexity can higher the cost.

To make it easier, go for the right selection of cutting-edge programming languages for app development and integrations. Try not to extend the number of integrations to keep the cost as it is. 

Benefits of Fintech App Development


From better customer experiences to alleviating development costs, there are several benefits associated with Fintech mobile applications. Below, we have brought a list of some astonishing benefits that you must know before investing in fintech app development-

  • Effective Financial Operation Management
  • Reduced Development Cost
  • Improved User Experience
  • Better Risk Management
  • Pioneering Approach
  • Better Market Reach
  • Improved Security
  • Advanced-Data Management

1. Effective Financial Operation Management

It is one of the most wonderful benefits of fintech app development that allows businesses to manage their financial processes and operations. With this, businesses don’t need to manage their finance via books and papers manually as there are various functionalities such as tracking expenses, invoicing, financial reporting, and payroll management.

This way, ventures can improve efficiency, have better visibility into their financial data, reduce manual errors, and can make easy and informed decisions to have valuable financial management.     

2. Reduced Development Cost

To have less development cost, it is required that businesses keep an eye on every development aspect that can affect the overall cost. This is the reason why businesses obtain fintech app development services because fintech applications are built using different frameworks enabling developers to code reusability for building different apps.

Reusing the code reduces the developers’ time spent on writing new codes so that they can focus on other important elements such as security, speed, design, and many more.

Also, fintech app development eliminates the costs related to physical infrastructure & branches, in-person interactions, and paper-based documentation.       

3. Improved User Experience

With Fintech app development, ventures are facilitated with new ways to lure customers by providing them advanced and easy-to-use services, user-friendly interfaces, smooth transaction processes, intuitive navigation, etc. Features like managed onboarding processes, real-time access to financial information, and personalized recommendations strengthen users to have higher compensation and reason to come back to the same app.

A well-designed fintech app helps businesses to differentiate themselves from their competitors, fostering customers’ loyalty, grabbing new customers, and driving business growth.       

4. Better Risk Management

Fintech apps enable enterprises to evaluate and mitigate risks successfully by leveraging advanced technologies like Artificial Intelligence, Machine Learning, and data analytics. These apps provide real-time financial data access aiding businesses to analyze their financial health and recognize possible risks accurately.

With improved risk management capabilities, ventures can make informed decisions, secure their financial stability, and moderate potential threats.    

5. Pioneering Approach

Fintech mobile applications developed with groundbreaking approaches are also helpful for better productivity & efficiency and for managing financial processes. These apps provide real-time access to financial data via smooth integration with banking systems that strengthen businesses with detailed insights and better decision-making.

Enterprises can also customize the app according to their specific requirements to deliver a more personalized user experience and can also get a wider customer base while expanding their reach.

6. Better Market Reach

With the advanced fintech app, it will be easier for businesses to expand their customer base and market reach by tapping into different untapped markets. These apps work as an accessible and convenient platform for users to access a wide range of financial products and services, irrespective of their location.

With the increasing use of smartphones, it has been easier for businesses to connect with a worldwide audience by removing geographical barriers. It helps ventures to have better sales, a new user base, and make a strong presence in the market.  

7. Improved Security

Improved security is a valuable benefit of fintech app development that comes with advanced encryption algorithms and vigorous authentication mechanisms. Fintech apps provide a secure platform to fulfill financial transactions and data management. There can be seen a reduction in fraudulent activities and unauthorized access by leveraging progressive technologies such as tokenization and biometric authentication.

Enhanced security measures encourage confidence among users, promoting loyalty towards the app, and securing confidential information for business transactions.       

8. Advanced-Data Management

Fintech apps have robust features for data management, collection, storage, analysis & reporting so that businesses can manage their financial procedures to make data-driven decisions. There are also integrated data management capabilities to help businesses in tracking transactions, generate real-time financial reports, and monitor cash flows.

Alongside, advanced data analytics tools attached to the fintech apps provide detailed insights into customer behavior, financial performance, and market trends to assist businesses to improve their strategies.

Must Have Features to Add in the FinTech App

Businesses are required to create apps in such a way that they would meet the unique market demands and would be able to fulfil their end business goals. They need to hire Fintech app developers who have the skills and expertise to develop a high-performing and full-fledged app with core and advanced features. Here is a list of features to cater to all types of customer’s needs-

User Panel

Fintech app User Panel

The app needs to work smoothly while satisfying the customer’s expectations. The below features will help to offer an amazing user experience to customers.

  • Secure Sign-Up

It is the most needed feature to have for the users. People need to register the app before using it. To make the registration secure, they can have app registration via using their email ID, name, contact number, etc.

  • Investment Advice

The app will be helpful to users to provide the latest updates & news and suggesting them about investment strategies. Users can take advice to plan their investment weekly, monthly, and yearly.

  • Budget Organization

As per users’ budgets, this feature helps them to manage their monthly budget by providing them all the details regarding the spending along with the alternative methods to decrease the funds.

  • Real-time Tracking

It is one of the standard features that can increase your Fintech app development cost. Through this, the app can provide the latest updates consistently about the credit balance, transactions, and additional loan data of users.

  • Voice Recognition

This advanced feature is adopted by the best Fintech apps to provide a unique customer experience with the implementation of AI (Artificial Intelligence). Here users can interact with the Fintech app easily via voice authorization or speech and the app will also respond to them via voice direction.

  • Cashback

Whether you are having FinTech app development services, it is important to provide this feature to steal all the attention of users. They like using the apps that provide them benefits such as cashback balance, points, scratch cards and view the cashback history.

  • Real-time Notifications

Push Notifications help users to get instant updates about their app profile even when they are not using the app.

  • Different Money Transfer Methods

This feature is essential to comprise so that users can go for any method that is appropriate to them. These can be anything such as credit or debit card, VISA card, online banking, etc. with zero commission and fast payment processing.

  • Settings

Users can alter, update, modify or delete any of their information or thing related to their app account or profile with the help of this feature.

Admin Panel

fintech app admin panel

Administrators must have some features that can be beneficial to them while managing the tasks of users and handling the activities within the app. Check out these –

  • Login

Not only users, but admin also must log in to the FinTech app. They have to register once and then; they can log in to the app by entering their email and password.

  • Managing Users

 All the users who are registered with the app will be managed by the admin. It will also include the full list of users, filters and searching a particular user, and organizing them.

Admin has all the rights to activate or deactivate any navigation menu according to their suitability and choice. This feature allows the admin to manage the lists of features and content categories presented with a set of icons or links.

  • Cashback Categories Management

The app admin must handle the cashback categories comprising adding, modifying, or deleting any offer. All the activities including viewing the cashback statement are the responsibility of the admin.

  • Payment Management

Admin completes all the payment-relevant activities and can also view the payment reports and transaction history. This feature includes centralized payments and cash management as well.

Advanced Features

Apart from the core features, advanced features are significant to make an app competitive and unique in its own way. Let’s see what the required features are to make your app shine out in the market-

  • Account Verification & Management

This feature is specifically used to manage users’ banking accounts along with accomplishing the processes like verification, money transfers, and regular tally for the users. Users can view their daily transactions, account balance, and history. They can also access the money transferring securely.

  • Customization

This must-needed customization feature will help make the app stand apart from others by providing users personalized banking services and schemes for money management. It also comprises various latest technologies such as machine learning, IoT, AI-driven bots, and others.

  • Data Analytics

In order to provide proficient financial services, Fintech app development companies are required to have proper business data analytics and insights by following the overall history of financial transactions. Further, the app examines the entire data set and provides reports to users.

  • Security

When it comes to financial or money transferring apps, security becomes an essential part to integrate. There are many hackers on the way who always try to breach the security structure of finance and banking apps. To prevent these hackers and fraudsters, users are provided with strong passwords and pins along with biometric authentication within the app.

hire fintech app developers CTA

Fintech App Development Tech Stack

The right technology stack is one of the essential factors that can affect the overall cost to develop a mobile app. While developing a FinTech app, implementing modern technologies is necessary to make it a competitive advantage. For this, you will need the following technologies:

  • Back-end Technologies: Nde.js, Laravel
  • Front-end Technologies: Nuxt.js, Vue.js, Ember.js
  • Server: Vultr, AWS
  • Programming Languages: React Native, Java, Swift
  • Third-party Integrations: Trulioo, Yodlee, PayPal, Firebase, Stripe, etc.
  • Database: PostgreSQL

Why SemiDot Infotech is a Perfect Partner for Fintech App Development?

If you are already looking for how to find the right fintech software development company, then hold your horses as SemiDot Infotech is here to help you anyway. We have over a decade of expertise in the realm of fintech and have provided hundreds of fintech solutions to date that have made businesses reach new heights of success.

Our team of experts will assist you to get valuable guidance and support throughout the development procedure. We have a set of adroit fintech app developers and designers who have rich knowledge about technical aspects, security & compliance, integration capabilities, UI/UX design, time & cost management, and more.

Hiring a fintech app development company like SemiDot Infotech will also facilitate you with seamless third-party integrations, rigorous testing, and free ongoing support & maintenance for a fixed time.


At present, FinTech mobile applications are proving as a game-changer in the market as every business is going gaga to invest in this sector. In the above article, we have created a complete guide of Fintech app development, its estimated cost, features, different types, and popular examples.

As an entrepreneur, if you are planning to enter the market with a full-fledged app, this guide is suitable to go for as it will fulfill the goal of your app- satisfying the app users.

Being a leading financial app development company, SemiDot Infotech provides end-to-end solutions with the main focus on the customer’s security and delight. If you are also in search of an appropriate mobile app development company in USA, let’s have a chat to get an idea of what we can do together!


Here are some frequently asked questions related to fintech app development that you must consider, check out below-

  1. How much does it cost to build a FinTech app?

    The cost to develop a fintech app will range between $40,000 and $150,000 but it can fluctuate significantly based on factors such as desired features, app complexity, development team rates, platform compatibility, and additional services. It will be better to first consult with a leading company and then go further with the process.

  2. How long does it take to develop a FinTech app?

    It takes around 7 to 12 months to build a fintech app, though it can extend considering a number of aspects like team size, needed services, and complexities. If the process gets complicated, then it can take longer than usual.

  3. How does a FinTech app make money?

    The monetization model of a fintech app includes various revenue streams such as subscription models, transaction fees, partnerships, referrals, advertising, commissioning from other financial institutions or business collaborations, and data monetization. Extra revenue can be generated from providing premium features, and in-app purchases.

  4. What are the different types of fintech apps?

    Different types of fintech apps include payment apps, mobile banking apps, investment apps, insurance apps, peer-to-peer lending platforms, crowdfunding apps, cash advance apps, and budgeting & expense tracking applications that facilitate users to avail themselves of several online financial services.

You May Also Like