How To Build Fintech App Like Wise

How To Build Fintech App Like Wise

How To Build Fintech App Like Wise

“How much does it cost to make a financial app like Wise?”is one of the first things that people who want to make an app like Wise for banking think about. Find out how much it costs to make a financial app by reading this blog.

The rise of fintech companies has changed the way we handle our money and do business across borders in today’s fast-changing financial world. Wise, which used to be called TransferWise, is one of these innovative companies.

This big name in fintech has changed the game by making cross-border money exchanges quick and cheap. Millions of people and businesses around the world choose this service over others.

As you know, FinTech apps are a growing field, and the costs of making apps are going down as technology keeps getting better. FinTech will be worth $699.50 billion by 2030. A lot of people will use digital banks, too. There will be 699 million by 2025, up from 197 million in 2021.

This blog post will talk about how much it costs to make a fintech app like Wise, what things affect that cost, and how to lower that cost.

Let’s start.

Table of Content

What does a Wise App do?

A well-known fintech company called Wise focuses on cheap money transfers and exchanging currencies. People can send and receive money internationally, store multiple currencies in their digital wallet, and send and receive money internationally at low rates and with few fees.

Wise is known for having clear prices and a promise to provide a cheaper option to standard banks for international transactions.

So, if you want to invest in fintech software, you need to hire specialized software developers who know how to make strong fintech software.

Why should companies spend money on fintech apps?

Business apps for fintech have changed how they work. Fintech companies can use traditional ways of doing business to help firms that invest in Fintech mobile app development after 2023.

Fintech apps are a good buy for companies because they make things faster and easier to do. You can also pay for them more easily and for less money. Check out the most recent numbers on finance apps.

With an AUM of US$112,90bn, digital investments will be the biggest market in 2023.

This means that each digital trader will have an average AUM of US$439.80 in 2023.

The Fintech company in London had a cost of sales of 308 million British Pounds in 2023, which was about 115 million British Pounds more than the previous fiscal year.

The market for digital assets is set to grow by 33.6% by 2024.

Fifth,480,000,000,000 people will use the Digital Payments Market by 2027.

We think that by 2023, the Digital Investment Market will have a total AUM of US$112,90bn.

Because each FinTech KPI is different, it is not possible to make a single number that represents the whole FinTech market.

How much it costs to make a fintech app like Wise

It is thought that a Finance App will cost between $10,000 and $25,000. The price depends on how hard the project is and what technology is used. The platform, hourly rate, and difficulty of your project will also have a big impact on how much it costs to make a financial app.

So, we came up with a method that can help you figure out how much it will cost to make a fintech app.

Estimated number of development hours times the hourly rate of a developer equals the total cost of making a mobile app.

There are a lot of different things that affect how much it costs to make an app. Some of these are how complicated the app is, how experienced your custom financial app development services team is, and where you are building the app.

It will cost less, though, if you make an MVP. A full-featured social media app can be made in less time. You’ll need to hire a fintech software development services company that knows how to make apps for photo-sharing or social networking.

You now know how much it costs to make a financial app. It’s important to know the things that affect how much it costs to make an app.

Things that affect how much it costs to make a fintech app like Wise

According to the custom software development services company, these are the most important things you should think about before making a fintech app.

1. Needs for the App

How much a fintech app costs depends on what it needs to do. Think about things like the amount of work done, the level of security offered, the depth of the app, and so on. There are a lot of things that go into figuring out how much it costs to make a financial app like Wise. This part is made up of a lot of different factors, such as the features, services, and abilities that are needed to meet user wants.

2. Different Types of App Platforms

You need to be sure of the platform your app will run on before you hire mobile app writers. You will save money if you pick just one app, like Android or iOS. Cross-platform fintech app creation, on the other hand, might cost more. It is suggested that you make an app that works on more than one platform. You will be able to reach more people this way.

3. Think of UI/UX

Developers of fintech apps start by working on the design of the app because they know that’s the only way to get the attention of the people they want to use it. Did you know that an app’s UI/UX can have a big effect on how much it costs? The UI/UX of an app has a direct impact on how users see and experience it.

When making an app, you have to come up with and try a lot of different design ideas to see which ones work best. It doesn’t matter if the app is for mobile banking, a cash advance, insurance, or something else; it needs to be easy for people to use.

4. Where the Development Team Is

To figure out how much it will cost, you should know where the developers you’ve picked are located. How much it costs to make a financial app depends a lot on where the team is located. It will cost different amounts for developers from different parts of the world to make a financial app. To keep costs low, don’t forget to think about where and how many people are on your team when you’re making a fintech app.

5. Updating an app

Maintenance for your app should be a top priority because it’s a key part of making a mobile banking app. Two very important parts of app upkeep are bug fixes and security updates.

It also includes the prices of servers and infrastructure, meeting regulatory requirements, keeping APIs and third-party integrations up to date, and improving performance.

This can cause a pricey app, a bad experience for users, security holes, and other problems. You can keep the cost down by finding mobile app developers who put money into regular upkeep.

6. How many features

You should have also thought about the features you need once you’re done with all of your financial ideas. The cost is also affected by how many features it has, so it’s important to decide which ones are most important.

The price of making an app like Wise can go up if you add more complex features like encryption, payment processing, and user identification. There will also be more third-party integrations and real-time data.

7. Integration of a Third Party

Adding third-party services like payment platforms, banking APIs, or security providers can add to the cost of making a mobile banking app. These services need more time and money for growth. Pay attention to how hard these connections are, because that can make them cost more.

Pick the most complex programming languages to make it easy to integrate things and make Wise mobile apps. Cut down on the number of connections to keep the cost of making the Wise app low.

Top 5 FinTech Apps That People Really Like Like Wise

There are a lot of successful finance apps out there that have a huge number of users. But we’ve put together a list of the top 5 most famous apps that an e-wallet app development services provider says you should try. Let’s take a look:

Fintech apps Available Platforms Downloads
MoneyLion Android | iOS 1M+
Robinhood Android | iOS 10M+
Chime Android | iOS 10M+
Nubank Android | iOS 100M+
Mint Android | iOS 10M+

1. MoneyLion

This is one of the best FinTech apps in the US. People who use it can get loans and get financial help. This company has been around for six years and has apps for managing personal finances, loans, savings, and wealth. They have also expanded their marketing network and made it easier for customers to get loans.

2. Robinhood

With the Robinhood app, you can trade stocks, ETFs, and cryptocurrencies for free. People can put their money into exchange-traded funds or public companies that are listed on US stock markets.

There are no fees to buy in stocks, ETFs, or cryptocurrencies through the app, and it has its own clearing system. Crunchbase says that the trading app got $5.6 billion in 28 rounds of funding.

3. Chime

There are a lot of new banking apps coming out quickly in the US, and the Chime App is one of them. The bank only works on phones. With the Chime app, users can keep track of both their savings and spending accounts, and there are no secret fees.

This is one of the best planning tools because it lets you set up many automatic ways to save money. Because it works with so many ATMs, Chime is one of the best FinTech banking apps in the country.

4.   Nubank

One of the best FinTech apps and companies in Brazil is Nubank. Nubank is one of the best FinTech apps for sending money instantly and getting to your bills. It also keeps track of spending by area and lets Nubank rewards point users delete purchases.

It’s an instant fintech app like the wise app that shows you your credit card and savings amounts in real time. In a loan round after its IPO, the company raised $650 million. The round will be talked about on April 11, 2020.

5.   Mint

One of the most famous FinTech apps for phones in the US is the Mint app. It keeps track of things like user cards, accounts, and purchases. You can pay your bills, keep track of your transactions, make a budget, and handle your spending with an app like Mint. The alerts will let you know when you have bills to pay and give you tips based on how you usually spend your money.

How to Make It Cheaper to Make a Fintech App Like Wise?

You now know how much it costs to make a financial app. Time to find ways to make the price go down. Let’s take a look:

Figure out which features are necessary and skip the rest

The cost of making your app will go up with each new feature you add. To stick to your original budget, it’s best to cut down on the features to just the ones you really need.

Pay attention to the app’s most important features instead of the tools that don’t improve the experience. This will tell you more about the important features that will make money apps like Wise work in the future.

Use a solution with a white label.

If you want to save time and money while making a smart mobile banking app, pick a white label option like the SaaS Platform. This white-label platform also meets all the compliance standards that are needed to make a financial app. You can also get a license to change the source code so that it works better for your business.

Pick the Right Partner for Development

You can save both time and money by outsourcing your fintech on-demand business app creation needs to a company with experience in the field. The people who work for these companies have built banking apps before. It will be up to you to pick the form of cooperation that works best for your fintech application budget.

Pick the Correct Method for Growth

Agile is the best way for fintech teams because it lets them make changes all the time. To make sure the product is error-free and on time, you need a project manager who has worked with Agile, SCRUM, and Lean before.


Are you ready to change the fintech industry by making a fully working app with advanced features like Wise? Good job! People want fintech apps a lot, which gives businesses a lot of chances to make money.

Before you start, this blog has everything you need to know. It lists the platforms used, the features that are wanted for a fintech app, and how much it will cost to build.

However, it is best to hire dedicated developers who make fintech apps like Wise specifically for your wants and expectations. When you hire the right development team, you can run your Fintech business smartly.


  1. In general, how long does it take to make an app like Wise?

It can take three to six months to make a simple FinTech app. The time it takes to make a FinTech app will depend on how hard the project is, what you need, and which FinTech solutions you choose. It might take 12 to 18 months.

  1. What ways does a FinTech app like Wise make money?

FinTech apps make money by putting ads inside their apps. This is the best and most common way to do it. When people click on ads in an app, third-party ad networks pay the app owners. You might also be able to make money from subscriptions and in-app purchases.

  1. Is there a set price for making an app like Myfawry?

There is no one set price for FinTech apps because each project is unique. Depending on its goals and needs, the cost to make an app like Myfawry can be very different.

  1. How do I get an exact price quote for my Fintech app project?

Work with reputable Fintech software development companies in the US or hire a group of skilled workers to get a good idea of how much it will cost. Send a full project brief that lists the goals and requirements for your app. They will look at the size and difficulty of the job and then give you a personalized cost estimate that takes into account both your needs and standard practices in the industry.

  1. How to Make an App Like Wise for Sending Money?
  • Here are the steps you need to take to make a finance app like Wise:
  • Look into the market and the people you want to reach.
  • Get the licenses you need and follow the rules.
  • Create a system that is easy for people to use and strong security features.
  • Connect payment methods around the world.
  • Offer exchange rates that are fair.
  • Get the word out about your app.
  • Always add new features and make improvements based on what users say.

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