
You must be thinking if it’s the right time to be a part of the fintech industry. Well, the fintech industry is growing at a CAGR of 14% and is estimated to reach $608.35 billion by the end of 2029, showing us that it’s the right time to be a part of the fintech industry. To help you better understand the cost of Fintech app development, we have pulled our led and jotted this blog for you.
Moreover, AI in Fintech is also growing and is estimated to reach $50 billion by the end of 2029. It’s not just the AI that’s bringing an impact in the fintech space, digital payments also play a major role in the growth of the fintech industry by occupying 25% of the total fintech market share.
Thus, if you too want to be a part of the fintech industry and are looking for the actual cost of developing a fintech app then you are at the right place. With the help of our business analysts and developers, we have listed the estimated cost of developing a FinTech application. So, let’s dive in and check the content of this post:
Overview Of Different Types of Fintech Apps
There are several types of fintech applications that one can develop. Here are all the top 5 different types of Fintech apps that are currently trading in the fintech industry.
Digital Banking
As per a study, 71% of the users prefer to manage their bank accounts through a mobile app or desktop. Moreover, banks planning to use AI can experience a 34% increase in their revenue.
Digital banking assist users in:
- Online account creation
- 24*7 support and account management
- Easy online banking
- Strengths privacy and security for customers.
- And more.
Some popular examples of Digital Banks are:
- Chime: Chime is renowned for providing simple online banking together with inexpensive accounts that don’t charge monthly maintenance or overdraft fees. Nevertheless, Chime lacks physical locations, offers fewer account options than many Internet banks, and has lower rates than many of them.
- Revolut: Peer-to-peer payments, credit and debit cards, currency exchange, stock trading, cryptocurrency exchange, and bank accounts in GBP and EUR are just a few of the banking services that Revolut provides. The mobile app for Revolut allows transfers in 36 currencies straight from the app and allows spending and ATM withdrawals in 120 currencies.
Money Lending Apps Or BNPL Apps
There are currently 360 million BNPL users across the globe. But what exactly is BNPL or money lending apps?
Let’s say that you want to purchase a T-shirt but it’s the end of the month and you don’t have enough budget to purchase the product, then instead of letting the T-shirt go you can use these apps to finance the product for you and once you receive your salary you can pay them back.
Benefits Of developing a BNPL Application:
- Helps in attracting new customers
- Close more leads
Some popular examples of BNPL Apps:
- Klarna: This BNPL app sees almost 2,50,000 transactions every day. Users can lend money from the app and pay directly or even in 4 simple installments.
- Affirm: Offering payment plans for both in-store and online purchases, Affirm is one of the biggest buy now, pay later (BNPL) lenders in the United States. With Affirm’s loans, you can spread out your payments over three, six, or twelve months and pay for your goods over time. There is also an option to pay no interest.
Also Read: How Much Does It Cost To Create A BNPL App Like Affirm In 2024?
Insurance/Insuretech App Development
The insurance market is also growing at a CAGR of 12.7% and is estimated to reach $6560.5 Billion by 2031. Additionally, insuretech is the use of insurance technology which helps increase profit and maintain a better customer database.
Benefits of having insuretech software:
- It helps insurance companies save operational costs.
- Provides a more efficient way to manage and process insurance claims.
- Allows you to quickly asses risk and fraudulent claims.
Some popular examples of insuretech software:
- Ladder: With Ladder’s quick and easy application process, anyone may buy a life insurance policy in as little as five minutes. With Ladder’s quick and easy application process, anyone may buy a life insurance policy in as little as five minutes.
Money Management Apps
These apps help customers manage their finances by keeping track of their expenses and also suggest ways by which they can save them. One of the top-performing money management apps YNAB had 10M total visitors in April 2024, showcasing the need for these apps.
Popular money management apps:
- YNAB: A money management app that has 4 step process allowing users to save money.
- Moneylion: With the help of the robust mobile banking software MoneyLion, you can invest, save, and borrow money all in one location. It offers several worthwhile advantages, including access to some of the best financial resources available in mobile banking.
Stock Trading Apps
Apps that make it easier for you to invest in the stock market. Moreover, they allow users to manage mutual funds, involve intraday, and more. This allows you to quickly exchange stocks by sitting at home or overviewing your portfolio anytime you want.
Popular stock trading apps:
- Robinhood: It’s a popular trading app that has clients globally and allows trading in stocks, options, and cryptocurrencies.
- WeBull: WeBull makes use of third-party research, screeners, analytics, and customizable charting in addition to real-time streaming data. With bespoke widgets, you may completely alter your trading terminal to fit your tastes. The TurboTrader feature enables traders to quickly trade options and equity by filtering them.
Cost And Duration Of Developing Fintech Apps
Here is an estimated cost and duration of creating a fintech solution. The actual cost may vary depending on several features such as the UI/UX of the app, the tech stack used, and more.
App Type | Estimated Cost | Estimated Duration |
Digital Banking | $15,000-$25,000 | 2-3 Months |
Money Lending/BNPL | $15,000-$25,000 | 2-3 Months |
Insurance/Insuretech | $20,000-$35,000 | 4-6 Months |
Money Management | $15,000-$40,000 | 3-6 Months |
Stock Trading | $60,000-$80,000 | 6-12 Months |
5 Popular Fintech App With Their Estimated Cost Of Development
Here are 5 fintech apps that offer everything from personal finance management to peer-to-peer payments, cryptocurrency exchanges, and business payment solutions. Here’s a closer look at 5 popular fintech apps and their estimated development costs.
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Square
Square is a payment processing service that allows businesses to accept card payments through mobile devices. It’s particularly known for its point-of-sale (POS) hardware, which small businesses use to handle transactions. Square also provides additional financial services, including business loans and payroll.
Key Features:
- Point of Sale (POS): Accepts card payments on mobile devices or tablets.
- Invoicing: Provides invoicing tools to businesses, with options for recurring payments.
- Business Loans: Square offers small business loans based on transaction data.
- Payroll Services: Helps businesses manage their payroll system.
Estimated Cost:
- Development Cost: $25,000 – $350,000
Developing an app like Square involves building seamless payment processing, integrating POS hardware, and ensuring secure financial data management. Providing loan services and payroll tools adds another layer of complexity, making the development more expensive.
Revolut
Revolut is a digital banking platform that offers a wide range of services, including multi-currency accounts, stock trading, crypto transactions, and insurance. Revolut provides both personal and business accounts, positioning itself as an alternative to traditional banks.
Key Features:
- Multi-Currency Support: Offers global currency exchange without high fees.
- Crypto Trading: Allows users to buy, sell, and hold cryptocurrencies.
- Insurance Services: Provides travel and device insurance options.
- Stock Trading: Users can invest in stocks and other assets.
Estimated Cost:
- Development Cost: $30,000 – $500,000
Creating an app like Revolut requires extensive backend support for real-time currency conversion, crypto exchanges, and integrating various financial services. The platform’s complex services also demand rigorous compliance with financial regulations, further adding to the development cost.
Acorns
Acorns is an investment app that helps users save and invest money automatically. It rounds up users’ everyday purchases to the nearest dollar and invests the change in diversified portfolios. It’s aimed at novice investors looking for an easy way to get into the stock market.
Key Features:
- Round-Up Feature: Automatically rounds up daily purchases and invests the difference.
- Automated Investing: Offers pre-set investment portfolios based on risk preferences.
- Personal Finance Tools: Helps users track spending and set savings goals.
- Retirement Savings: Provides IRA investment options for retirement.
Estimated Cost:
- Development Cost: $15,000 – $250,000
Acron’s App development cost is influenced by the need to implement micro-investing, real-time banking integration, portfolio management, and security measures. The development of automated investing systems and educational tools adds to the complexity and cost.
Plaid
Plaid provides a platform for fintech apps to connect with users’ bank accounts securely. It helps apps like Venmo, Robinhood, and Mint access users’ bank data in real time to facilitate payments, transactions, and account verification.
Key Features:
- Bank Account Linking: Allows users to link their bank accounts to other apps securely.
- Real-Time Data Access: Provides access to real-time transaction data from banks.
- Identity Verification: Helps verify user identity for financial applications.
- Payment Initiation: Facilitates secure payments between linked bank accounts.
Estimated Cost:
- Development Cost: $300,000 – $500,000
Plaid’s app functions as a bridge between financial institutions and fintech applications. Developing an app Plaid requires creating a secure and reliable data access platform, strong encryption, and meeting financial regulations regarding sensitive data.
Chime
Chime is an online-only bank that offers free checking accounts, savings accounts, and a credit-building feature. It aims to serve users who are underserved by traditional banks, offering an intuitive digital experience and no-fee banking services. Thus, if you too are planning to create an app like Chime then it will cost you around $10,000-$30,000 if developed from Appic Softwares.
Key Features:
- Free Checking and Savings Accounts: Offers easy-to-manage accounts with no hidden fees.
- Credit Building: Helps users build credit by offering secured credit cards.
- Automatic Savings: Helps users automatically save money by rounding up purchases.
- No Overdraft Fees: Eliminates fees often associated with overdrafts.
Estimated Cost:
- Development Cost: $20,000 – $400,000
Chime’s development costs come from creating a seamless, secure digital banking experience, integrating with third-party financial services, building a robust system for credit-building tools, and ensuring compliance with banking regulations.
Factors Affecting Cost Of Fintech App Development
Several factors can affect the cost of developing a Fintech app and we have broken down all of them for you to help you understand the actual cost of development.
Project Requirements
The initial stage of knowing the cost of developing a fintech software depends on what your requirements are. For example, if you want AI capabilities in your app then the pricing will be high, but if you want a simple fintech solution then the pricing will be a bit low.
There are two types of approaches when starting to develop an app:
- Fintech MVP: This approach usually tends to have low features and less initial pricing. Once the MVP app is live we move ahead and add features according to the user requirements, this helps in having only the valuable and appropriate features in your app.
- A complete solution: If you are well aware of the features that you want in your app then you should go with this approach and be market-ready.
UI/UX Requirements
Having an interactive UI/UX is necessary to attract and retain clients. The UX should be easy and handy for users to understand and use. You should always focus on the colors, the font, and the CTAs.
All of these play a major role in customer acquisition and help in creating a brand image.
Location Of Development Partner
Another important issue that significantly affects the cost is the location of the company you have partnered with to develop your FinTech application.
The price is determined by the hourly rate of the four to seven specialized teams and the duration required to develop an app in a certain nation. Generally speaking, a FinTech application development specialist in the US will price more than one in India.
Location | Hourly Rates of Developers (Approx) |
North America | $50 – $85 |
India | $15 – $25 |
Europe | $35 – $65 |
Latin America | $40-$50 |
Africa | $25 – $30 |
Use Of Latest Technologies
If you are planning to include AI, blockchain, or data analytics in your fintech app then the cost of development will be high, as these technologies require experienced developers.
Artificial Intelligence In Fintech
AI in Fintech is changing the landscape of how users behave, how data gets delivered, cybersecurity, and more. With the help of our AI engineers, we have listed some important points that you must check out to know the application of AI in Fintech.
Applications of AI in Fintech
- Fraud Detection and Risk Management
Fraud detection has become more effective and proactive with the integration of AI in fintech. Traditional systems often fail to identify subtle anomalies in transaction patterns, leading to missed fraud cases or frequent false positives. AI addresses these challenges by analyzing vast datasets in real-time and identifying deviations that indicate potential fraud. For example, machine learning algorithms can assess transactional behavior and flag suspicious activities, such as unusual purchase locations or spending spikes. These systems continuously learn from new data, improving their accuracy over time and ensuring that financial institutions stay ahead of evolving fraud tactics.
AI also plays a critical role in risk management by predicting potential risks in investment portfolios, loans, and other financ6ial services. It evaluates historical data, market trends, and external factors to offer insights, enabling businesses to mitigate risks effectively.
- Enhancing Customer Experience
Customer satisfaction is a top priority for fintech companies, and AI has become a vital tool in achieving this goal. AI-powered tools, such as virtual assistants and chatbots, are transforming customer service by providing instant, 24/7 support. These systems can handle a wide range of inquiries, from account balance checks to loan application updates, ensuring seamless customer interactions.
Beyond customer support, AI enhances personalization by analyzing user data to understand individual preferences and behaviors. For instance, AI systems can recommend tailored financial products, such as credit cards or investment plans, based on a user’s spending habits and financial goals. This personalized approach not only improves customer engagement but also builds trust and loyalty.
- Credit Scoring and Loan Approvals
AI is reshaping the credit scoring and loan approval processes, making them faster, more accurate, and inclusive. Traditional credit scoring models often rely on limited data points, such as income and credit history, which may exclude individuals with insufficient credit records. AI-based systems, however, consider alternative data sources, including social media activity, utility payments, and online behavior, to evaluate creditworthiness.
This approach enables financial institutions to extend loans to a broader audience, particularly underbanked or underserved populations. Additionally, AI automates the loan approval process by assessing applications in real-time, reducing the time required to disburse funds and enhancing the borrower’s experience.
- Algorithmic Trading and Investment Management
AI has revolutionized investment management by enabling algorithmic trading and robo-advisory services. Algorithmic trading uses AI-driven algorithms to analyze market data and execute trades with speed and precision. These systems can identify profitable opportunities in milliseconds, outperforming human traders in volatile markets.
Robo-advisors are another AI-driven innovation in fintech. These platforms provide automated investment advice based on a user’s financial goals, risk tolerance, and market conditions. By eliminating the need for human advisors, robo-advisors make investment management more accessible and cost-effective for a wider audience.
- Fraud-Resistant Payment Systems
The payment ecosystem has also benefited from AI applications, particularly in enhancing security and efficiency. AI systems monitor payment transactions for unusual patterns, reducing the risk of unauthorized transactions. For instance, when an AI-powered payment gateway detects an unfamiliar login location or a high-value purchase, it may trigger additional authentication steps to verify the user’s identity.
AI also streamlines the payment process by enabling features like voice recognition and biometric authentication, which provide a seamless yet secure experience for users.
- Predictive Analytics for Financial Planning
Financial planning has been transformed by AI’s ability to analyze data and predict future trends. Predictive analytics allows fintech companies to forecast market movements, customer behaviors, and revenue patterns with high accuracy. These insights are invaluable for businesses looking to optimize their strategies or launch new financial products.
For individual users, AI-powered tools assist in budgeting and financial management. Apps powered by AI can analyze spending patterns, categorize expenses, and provide actionable recommendations to achieve financial goals, such as saving for a vacation or reducing debt.
- Regulatory Compliance and Reporting
Regulatory compliance is a complex and resource-intensive aspect of financial services. AI simplifies this process by automating compliance checks and generating accurate reports. By analyzing transaction data, AI systems can identify suspicious activities that might violate anti-money laundering (AML) or know-your-customer (KYC) regulations.
Moreover, AI ensures that financial institutions remain updated on changing regulations by monitoring updates from regulatory bodies and integrating them into compliance frameworks. This automation reduces costs, minimizes human error, and ensures adherence to legal standards.
- Underpinning the Rise of Neobanks
Neobanks, or digital-only banks, are at the forefront of fintech innovation, heavily relying on AI to deliver seamless banking experiences. From account opening to transaction management, AI ensures that these platforms operate efficiently while providing users with real-time insights. Neobanks use AI-driven analytics to offer features like expense tracking, goal-based savings, and personalized financial advice, making banking more user-friendly and engaging.
The Future of AI in Fintech
The future of AI in fintech is vast and continues to grow as technology evolves. From fraud prevention to investment management, AI is creating smarter, faster, and more secure financial systems. As AI models become more sophisticated, the fintech industry will likely see further advancements in areas like blockchain integration, real-time analytics, and hyper-personalized customer experiences.
Blockchain In Fintech
Blockchain technology has emerged as a transformative force in the fintech industry, offering numerous advantages such as enhanced security, transparency, and efficiency. Here are some key applications and trends of blockchain in fintech:
Applications of Blockchain in Fintech
- Digital Payments
Blockchain has revolutionized the way digital payments are made by enabling peer-to-peer transactions without intermediaries. Cryptocurrencies like Bitcoin and Ethereum allow for faster, cheaper, and more secure cross-border payments, significantly reducing the time and cost associated with traditional banking methods. - Smart Contracts
Smart contracts are self-executing agreements coded onto the blockchain. These contracts automatically enforce the terms of an agreement when predefined conditions are met, eliminating the need for intermediaries. Fintech companies use smart contracts for loan agreements, insurance claims, and supply chain financing. - Fraud Prevention
Financial fraud is a major challenge in the fintech sector. Blockchain’s immutable ledger ensures that once a transaction is recorded, it cannot be altered, significantly reducing fraud risks. Its transparency also enables real-time monitoring of transactions, making fraud detection faster and more accurate. - Digital Identity Management
Blockchain provides a secure way to manage digital identities. By storing identity data on a decentralized ledger, fintech firms can verify user identities without relying on traditional, insecure methods. This reduces identity theft and enhances customer trust. - Decentralized Finance (DeFi)
DeFi platforms leverage blockchain to offer financial services such as lending, borrowing, and trading without centralized control. These platforms provide greater accessibility and transparency, empowering users who lack access to traditional banking services. - Regulatory Compliance and Auditing
Blockchain simplifies compliance with financial regulations by offering transparent and traceable transaction records. It streamlines auditing processes, reduces costs, and ensures accuracy in regulatory reporting.
Trends in Blockchain and Fintech
- Decentralized Finance (DeFi): A Financial Revolution
Decentralized Finance, or DeFi, is one of the most prominent trends in blockchain within fintech. DeFi eliminates the need for traditional financial intermediaries by offering services such as lending, borrowing, and trading through decentralized platforms.
Smart contracts, which automate and enforce agreements without human intervention, power these platforms. DeFi democratizes access to financial services, allowing users to participate globally with just an internet connection and a cryptocurrency wallet. The surge in DeFi adoption underscores the demand for decentralized solutions that offer greater control to users and reduce costs compared to traditional banking.
- Blockchain-Based Payments and Remittances
Blockchain is transforming the payments landscape by enabling faster, cheaper, and more secure transactions. Traditional cross-border payment systems often involve high fees and lengthy processing times. Blockchain-based solutions, such as Ripple and Stellar, facilitate real-time payments across borders with minimal costs.
Cryptocurrencies, such as Bitcoin and Ethereum, are also gaining acceptance as payment methods, bridging the gap between digital and traditional currencies. As businesses and consumers increasingly adopt blockchain-based payment systems, the trend points to a more integrated and efficient global financial network.
- Central Bank Digital Currencies (CBDCs)
The rise of Central Bank Digital Currencies (CBDCs) represents a significant shift in the financial landscape. CBDCs are digital currencies issued by central banks and built on blockchain technology. Unlike decentralized cryptocurrencies, CBDCs are fully regulated and offer a stable digital alternative to cash.
Countries such as China, Sweden, and the Bahamas have already launched or piloted their own CBDCs. These digital currencies aim to enhance financial inclusion, reduce transaction costs, and provide a modern alternative to traditional banking systems. As more nations explore and implement CBDCs, blockchain technology will play a crucial role in redefining monetary systems globally.
- Tokenization of Assets
Tokenization is a groundbreaking trend that leverages blockchain to convert physical and digital assets into digital tokens. These tokens represent ownership and can be traded on blockchain networks, enabling greater liquidity and accessibility.
For example, real estate properties, stocks, bonds, and even art can be tokenized, allowing fractional ownership. This democratizes investment opportunities, making high-value assets accessible to a broader audience. By using blockchain, tokenization ensures transparency, reduces fraud, and streamlines transactions, particularly in industries that rely on complex ownership structures.
- Blockchain for Enhanced Identity Verification
Identity verification is a critical aspect of financial services, and blockchain offers a decentralized solution for managing identities securely. Blockchain-based identity systems eliminate the need for repetitive KYC (Know Your Customer) processes by allowing users to store and share verified credentials securely.
These systems not only improve customer experience but also reduce costs for financial institutions. Moreover, blockchain ensures data integrity and prevents identity fraud, making it a valuable tool for fintech companies focused on security and compliance.
- Blockchain and Smart Contracts in Insurance
The insurance sector is experiencing a transformation with the integration of blockchain and smart contracts. Smart contracts automate insurance claims processing by executing predefined conditions without manual intervention. For instance, in travel insurance, a smart contract can automatically process a claim if a flight is delayed, eliminating delays and disputes.
Blockchain also enhances transparency by providing an immutable record of policies, claims, and payouts. This reduces fraud and builds trust between insurers and customers, making the insurance process more efficient and reliable.
- Green Finance and Blockchain
Sustainability is becoming a key focus in the financial industry, and blockchain is playing a pivotal role in green finance. Blockchain enables transparent tracking of funds allocated for environmental projects, ensuring that investments contribute to sustainability goals.
Additionally, blockchain is being used to create carbon credit marketplaces, where companies can trade carbon offsets efficiently. By integrating blockchain into green finance initiatives, the fintech industry can promote transparency and accountability in addressing global environmental challenges.
- Blockchain in Trade Finance
Trade finance is a complex domain involving multiple parties and extensive documentation. Blockchain simplifies this process by digitizing and automating trade-related documents, such as letters of credit and bills of lading.
Platforms like IBM’s TradeLens use blockchain to streamline supply chain operations, enhancing efficiency and reducing fraud. Blockchain also improves cross-border trade by providing a secure and transparent system for tracking transactions. This trend is particularly valuable for SMEs, enabling them to access trade finance with fewer barriers.
- Interoperability and Cross-Chain Solutions
As blockchain networks proliferate, interoperability has become a crucial trend. Cross-chain solutions enable different blockchain platforms to communicate and share data seamlessly, addressing the challenge of siloed networks.
For instance, Polkadot and Cosmos are leading projects in developing interoperable blockchain ecosystems. This trend is particularly relevant for fintech companies, as it allows for greater flexibility in leveraging blockchain technology while ensuring compatibility with existing systems.
- Regulation and Compliance Through Blockchain
The regulatory landscape is evolving alongside blockchain adoption, with governments and financial institutions emphasizing compliance. Blockchain’s transparency and immutability make it an ideal tool for regulatory reporting and audits.
Regulatory technology (RegTech) powered by blockchain automates compliance checks, reducing costs and minimizing human error. For example, blockchain can record all transactions and activities in a transparent ledger, providing regulators with a comprehensive view of financial operations.
Tools And Language Used
The technology stack has a significant impact on the cost of developing a FinTech app as well. You must decide which programming language and tools to use for your FinTech application development project to get an accurate price estimate.
There are generally three types of applications, and each has a different cost and requires a certain technology stack.
Native Fintech App Development
Native apps are those developed just for one platform—iOS or Android—and are targeted at the FinTech sector. The tools needed to create native iOS apps are Apple Xcode, SWIFT, Objective C, and the iOS SDK. Native Android apps often make use of Android Studio, Java, Kotlin, and the Android SDK. For the Ethereum platform, developers choose to use the Solidity language when developing smart contracts.
Cross-Platform Fintech App Development
Cross-platform fintech app development allows businesses to create high-quality mobile applications that function seamlessly on both iOS and Android platforms using a single codebase. This approach reduces development time and costs while ensuring a consistent user experience across devices.
Popular frameworks like Flutter, React Native, and Xamarin enable faster time-to-market, easier maintenance, and broad market reach. Cross-platform fintech apps can include essential features like secure payment gateway integration, real-time transaction tracking, multi-currency support, and robust data security, making them an excellent choice for businesses aiming to offer efficient financial services to a wide audience at a lower cost.
No-Code Fintech App Development
No-code fintech app development is revolutionizing how financial services are delivered by enabling individuals and businesses to create powerful fintech apps without the need for extensive coding knowledge. Using no-code platforms, users can build custom applications through intuitive drag-and-drop interfaces and pre-built components, significantly reducing the complexity of development. This approach accelerates time-to-market, lowers development costs, and democratizes app development by making it accessible to non-developers.
As a leading Flutterflow app development company, we assist you in having a complete no-code finance app that can be customized by you later on. Moreover, if you need a more feature-rich app then our Flutter developers can write custom code and integrate those features in your app.
5 Top Fintech Startups Leading The Industry
Here are five fintech startups to watch in 2024, based on their innovative approaches and market potential:
- Revolut
- Revolut is a UK-based neobank that has grown significantly, now offering a range of financial services in over 150 countries. Known for its mobile app that integrates various financial services, it recently expanded into mobile phone plans and introduced AI features for fraud protection.
- Key Features: Multi-currency accounts, cryptocurrency trading, global presence, and a broad array of financial services.
- Revenue: Estimated $2 billion in 2023.
- Employees: Approximately 7,500
- Stripe
- Stripe, headquartered in San Francisco, provides online payment processing for Internet businesses. It serves major companies like Amazon and Meta with APIs that streamline payment integration for websites and mobile apps.
- Key Features: Payment processing, financial infrastructure for businesses, and recent product innovations like Data Pipeline and Financial Connections.
- Revenue: Estimated $14 billion in 2023.
- Employees: Around 7,000
- Wise
- Formerly known as TransferWise, this UK-based fintech specializes in low-cost international money transfers. It has expanded to include multi-currency accounts and business accounts, along with a strong focus on regulatory compliance and carbon reduction initiatives.
- Key Features: International money transfers, multi-currency accounts, business solutions.
- Revenue: $1.07 billion in 2023.
- Employees: About 5,000
- Chime
- Chime is a US-based fintech that focuses on fee-free banking services. It partners with regional banks to provide customer-centric financial products, aiming to offer more affordable options compared to traditional banks.
- Key Features: Fee-free banking, overdraft protection, automated savings.
- Revenue: $3.16 billion in 2023.
- Employees: Approximately 1,500
5. CoinList
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- CoinList is a platform for launching new crypto projects, providing services from token sales to trading and staking. Based in San Francisco, it supports the entire lifecycle of crypto investments and aims to connect blue-chip projects with a broad audience.
- Key Features: Token sales, trading, lending, staking, and decentralized finance services.
- Funding: Raised $120 million in its Series A round.
- Headquarters: San Francisco
How Appic Softwares Can Help In Fintech App Development?
Leading FinTech app development services provider Appic Softwares has extensive knowledge and experience creating reliable financial software that complies with all legal standards. Our FinTech specialists constantly put security first and are skilled at handling any security-related difficulties.
Therefore, don’t hesitate to contact our sales team for comprehensive clarity if you’re preparing to construct a FinTech app or if you have questions regarding the expense of doing so.