After signing an agreement with a customer, our fintech experts start exploring their business niche and analyze competitors to define the project goals, pain points a future product is going to solve, its target audience, and key features. At the end of the planning stage, businesses get time and cost estimates, a detailed conception of an app, a functioning prototype, and testing plans.
As soon as the planning is complete, the development stage takes place. Here our fintech software developers build fintech apps tailored to their predefined business requirements. To keep customers updated, we provide them with daily reports on the project's progress. This way, clients can monitor the development process and make changes whenever needed.
Quality assurance engineers are in charge of user flow integrity. They perform record tests to minimize risks of missing components or broken features. If a task passes tests, QA engineers transfer it to the project manager; if not, they give the task back to the fintech engineers for further revision and fixing. Apart from that, our quality assurance services include clarifying requirements, bug tracking and reporting, and performance testing.
As soon as our fintech development team completes all version releases and gets approval from the customer, they prepare a public release. Our DevOps engineers ensure that the financial technology product is available to end users and works smoothly regardless of the platform or operating system. Additionally, they deploy the solution to the development and production environment, offer data schema analysis, and perform data migration.
Our work does not end after the product launch. We offer clients post-release fintech software support, maintenance, and continued custom financial software development services to ensure their products stay relevant. To be more specific, we release regular updates, optimize app performance, and fix urgent bugs. This way, we minimize risks of system crushes or downtimes, enhance data security, and ensure stable performance.
By leveraging these technologies, financial institutions can improve efficiency, innovation, and customer satisfaction. To meet the unique demands and regulatory environments of each sector within the financial services industry, a tailored approach to software development is necessary. Here's a breakdown of the specific focuses and considerations for software development in different domains
Software development in the banking sector aims to create robust core banking systems, digital banking platforms, and secure mobile banking applications. Key areas of emphasis include real-time transaction processing, advanced security features, and seamless integration with other banking services.
In investment and wealth management, software is designed to facilitate portfolio management, asset allocation, and financial planning. Features such as risk analysis tools, performance tracking, and client relationship management (CRM) functionalities are incorporated to enhance the overall wealth management experience.
Software development in lending involves creating loan origination systems, credit scoring algorithms, and automated underwriting platforms. Key considerations include streamlining loan application processes, ensuring compliance with regulations, and implementing efficient risk management strategies.
Payment services software development focuses on building secure and efficient payment gateways, mobile wallets, and peer-to-peer payment solutions. Emphasis is placed on compliance with payment industry standards, encryption, and fraud prevention measures.
In the insurance sector, software development includes policy administration systems, claims processing platforms, and underwriting solutions. Custom software may also involve the integration of InsurTech innovations for data analytics, telematics, and customer engagement.
For decentralized finance, software development revolves around blockchain technology and smart contracts. Building decentralized applications (DApps) for lending, decentralized exchanges, and liquidity provision platforms are common. Security and audibility are of paramount importance in DeFi software development.