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Financial Software Development & Consulting Services

Chudovo team serves customers from the financial sector and provides full-cycle development and consulting services.
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Types of Financial Software Solutions Our Teams Could Provide by Business Areas

Reasons to Trust the Software Development for Finance Sector to Chudovo

Chudovo has operated on the market since 2006 and up to the current time successfully serves BFSI companies
In 2024 Chudovo was recognized as financial software development enterprise of the year in Germany by FinTech Awards Wealth Finance.
In 2022 Chudovo was awarded the title of the best financial software development company in Cologne
Stability and reliability of the company, which is confirmed by the annual award from 2021 to 2024 Strongest in Estonia with a very good AA credit rating
Large portfolio of fintech projects implemented for clients from the banking, lending, insurance, and other sectors
The core priority of the delivered solutions lies in quality, data security, and data compliance
Experts with 4-15 years of experience in software development and financial software services

Trusted by Businesses

Start-Ups Start-Ups
Software Product Startups
  • Startups that already provide different financial services from online payments to insurance, loans, invoicing, and more.
  • Fintech startups that are at the stage of implementing ideas into life.
SMEs SMEs
Small and Medium-Sized Enterprises (SMEs)

SMEs that are already operating in the fintech market. Our teams create intelligent financial software solutions to help SMEs to serve their customers efficiently and manage daily workflows.

Enterprises Enterprises
Enterprises

We take care of complex multicomponent fintech solutions to make managing multiple applications and workflows simple and effective.

Advanced Technologies for the Financial Applications Development

benefits
Clouds
The application of cloud technologies in the development of financial platforms contributes to the solution's scalability, reliability, and software accessibility. Our professional teams develop cloud applications with AWS, Google Cloud, Microsoft Azure, etc.
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AI and ML
AI/ML is commonly applied in the financial sector for several cases. Among the most popular are fraud detection, risk assessment, predictive analytics, algorithmic trading, enhanced decision-making, and more. Our software engineering teams help implement AI into the customer’s financial products.
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Big Data
Big data for finance means processing and analyzing a huge amount of structured, unstructured, and semi-structured data to obtain important insights. This enables businesses to make strategic moves and enhance decision-making. Besides, enterprises start delivering clients the most personalized products and services. Our experts assist in big data solution implementation, consulting, maintenance, and support.
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AR/VR
Among the examples of AR/VR solutions in the financial sector our engineering teams can deliver are education and literacy apps, AR-powered investment platforms, AR-powered features for immersive data visualizations, etc.
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IoT
Our teams offer IoT solution development and consulting services for the fintech companies.
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Blockchain
Our professional financial software development teams help deliver DeFi solutions, NFT platforms, dApps, and more.

FAQ

The most frequent questions asked by our clients
Why should I hire your fintech developers for my project? Answer
Chudovo is a development company with 15+ years of experience delivering software products for customers from different industries. Fintech is one of the industries served by our professional development teams. Through years of activity and work on projects from this branch, developers and other related experts understand the industry's specifics and key points. This, in turn, makes it possible to provide customers with high-quality and user-centric financial solutions that fit into their budgets, deadlines, goals, and expectations.
How do I get started with your company? Answer

Reach out to our experts to start communication about the potential cooperation on the fintech project. Our team will contact you in the shortest time to discuss project details. It is important to note that our engineering teams besides financial software development also provide consulting services.

On the one hand, our fintech development teams can help build a product from scratch, taking over all phases from conceptualization, identification of product viability, design, architecture, development, testing, and product delivery. On the other hand, we are ready to take over work on already existing fintech products, we offer support and maintenance, software modernization, IT audit services, and more.

Reach our experts to get a free consultation, analysis of your project, and offer of the services that might help your business.

How much does it cost to develop a fintech solution? Answer

Financial services software development is a direction that requires an understanding of the industry and the specifics of the product to be developed, the target audience that will use the software, etc. Usually, the budgets for the development of the financial software can be estimated based on the precise specifications of the product. However, there are lots of projects where product requirements are not available or are unclear. Commonly, the final cost for the development of the banking applications is influenced by the following factors:

  • The complexity of the financial application, the scope of the functionality to be developed, and potential plans for the future product extension
  • The selection of the technology stack for the development of the solution as well as architectural approaches, and other factors
  • Types of applications (web platform, mobile application, desktop app, or their combination) and supported platforms
  • Development process-related factors: UI/UX design, testing services, BA/PM, support and maintenance of the delivered financial software, etc.
  • Integration requirements (for example, KYC integration, payment gateways integration, BaaS integration, currency exchange providers integration, and more)
  • Additional requirements for the security, compliance, performance, and scalability
What cooperation models does your company offer for custom financial software development? Answer

Chudovo offers different, flexible cooperation models, depending on the project type:

  • IT staff augmentation. The expansion of the in-house development team through temporary contracting of one or a few financial software developers.
  • The dedicated development team. Hiring a dedicated development team for the implementation of the financial & banking projects. In this model, the team composition & size varies and is coordinated by the customer’s request. Also, depending on the project it is possible to build several teams (for instance, for the enterprise project the customer is looking for back-end and front-end development teams). The customer can manage the team or we can provide the PM on our side, who will manage the team and report to the customer.
  • Project outsourcing. Full project delegation to our team.
What are the reasons to outsource financial software development? Answer
Financial software development outsourcing enables the business to focus on its core activities. The customer gets access to professional expertise & talent that helps reduce product time-to-market and reduce costs. Outsourcing is the model that enables the scaling of IT capacities in the short term without direct in-house employee hiring.
What technology stack should the companies choose for fintech software development? Answer

As for the development of applications from scratch, the choice of the tech stack is based on the requirements for the future application. It is impossible to list 100% of factors that influence the choice. Anyway, it is possible to list some of them. First, it is necessary to understand what type of application will be developed: a web platform, a mobile application, or a simple desktop tool. Secondly, the functionality itself, the scale of the application (simple application with basic features or large-scale enterprise system), its scalability, the potential number of users who will use the software, the scale of data for processing and storage, the development of some parts of the system will take place from scratch or there will be integration with external systems (for example, the development of a custom CRM or the connection and customization of an existing solution), and much more. Thirdly, it is also important to understand the budget and expected delivery time of the product.

If we are talking about an existing financial solution, then it already has a certain selection of technologies. In this case, we offer the customer to hire developers and other specialists to develop and support the existing software with the appropriate skills and abilities. In addition, our teams provide consulting and IT audit services. There are cases when customers order an IT audit to analyze their IT infrastructure and software solutions in order to identify shortcomings and identify possible ways to improve the system (including recommendations regarding the migration of the existing system to other technologies in order to solve their current problems).

Contact our Team to Discuss Your Financial Software Development Project

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