June 21, 2024

Top 15 Fintech Development Companies and How to Choose One

Alena Arsionava

Technology Evangelist

FinTech

Top 15 Fintech Development Companies and How to Choose One

Alena Arsionava

Technology Evangelist

FinTech

Top 15 Fintech Development Companies and How to Choose One

Working with a trustworthy fintech software development company means having confidence in your project's success. Their expertise ensures that your finance app will meet industry standards, user expectations, and will be delivered on time. The question is, how do you find one?

Our blog post has shortlisted 15 of the best companies providing finance app and software development services. To curate our list, we took the main criteria as a clear focus on the finance and fintech sector, relevant portfolio, ratings on Clutch, and detailed description of finance app development approach. We also share tips and advice on choosing the best provider for your finance project.

15 Best Finance & Fintech Development Companies [2024]

  1. NEKLO
  2. Fueled
  3. Intellectsoft
  4. ArcTouch
  5. DockYard
  6. Merixstudio
  7. OpenXcell
  8. Hyperlink InfoSystem
  9. ELEKS
  10. WillowTree
  11. Chop Dawg
  12. S-PRO
  13. MLSDev
  14. Binary Studio
  15. FINANTEQ

Why Finance App Development is a Worthy Investment

The global fintech industry has seen impressive revenue growth, hitting around $79.38 billion in 2023, Statista reports. With no signs of stopping there, the industry market size is predicted to reach $141.18 billion by 2028.

This surge is driven by a growing number of users turning to digital apps and platforms to manage their finances. In 2020, time spent on finance apps increased by 45% globally, with total downloads reaching 4.6 billion. Apps related to investment and trading are in growing demand.

On the consumer level, 71% of users choose a mobile app or a computer to manage their finance and bank-related operations. 57% of them are Gen Z (1997-2012), giving their preference for mobile.

As we now stand in 2024, finance app development is still a worthy investment for the following reasons.

  • The market of finance apps is growing.
  • Finance app adoption is rising too, with more users downloading and spending time there.
  • Mobile finance management tools and apps foster customer loyalty and increase satisfaction.
  • Automated financial processes reduce manual effort.
  • The technology innovation (e.g., encryption, authentication) allows for enhanced security measures.

While finance apps are flooding the market, it’s critical to stay competitive and deliver functional products if you consider developing an app of your own. Partnering with a reliable company can help you capture a share of the finance market. Yet, the choice must lay on a professional service provider. Otherwise, your project will be a missed opportunity and a waste of time and budget.

How to Choose the Right Fintech Development Company

The choice of the right fintech app development company is challenging due to the complexity and specificity of the financial industry. Yet, it shouldn’t be a hit-or-miss approach. Here is a quick checklist of the things to pay attention to. 

A professional finance app development company must demonstrate:

  • a clear specialization in fintech app development
  • market presence, years in the software development industry
  • a substantial portfolio of finance app projects
  • rankings from sources like Clutch, GoodFirms, and The Manifest
  • technical capabilities and technology stack (e.g., big data, blockchain, AI, mobile platforms)
  • detailed information on the approach to data security 
  • regulatory compliance in finance app development (e.g., GDPR, PCI DSS)
  • NDA, legally sound agreement with your clear intellectual property rights ownership
  • transparent communication and processes 
  • flexible pricing
  • industry reports, publications, active blog

Best Finance App Development Companies

Before we jump to the provider's overview, here are a few insights into our selection and comparison process.

  • We've selected companies that show a clear focus on the fintech sector. They have detailed service or industry pages describing their approach to finance software development.
  • The companies can present a portfolio of fintech software projects
  • We've included companies that have the technical capacity to deliver web and mobile finance apps.  
  • The comparison is based on the open data available on Clutch, GoodFirms, and The Manifest. We reviewed companies with at least five reviews and 4.9/5-star ratings.
  • The general overview information for the companies has been taken from their websites and social media profiles, such as LinkedIn and Facebook.

To ensure a comprehensive list, we've added companies with diverse headquarters and development destinations spanning the USA, Europe, Eastern Europe, and India.

Document
Company Name Avg. Rating (Clutch) Year Founded HQ Development Offices Rates (per hour) Team Size
NEKLO 5.0 2009 USA Belarus, Poland, Ukraine $50 - $99 51-200
Fueled 4.9 2008 USA New York, USA $150 - $199 201-500
Intellectsoft 4.9 2007 USA USA, UK, Norway, Ukraine $50 - $99 1001-5000
ArcTouch 4.9 2008 USA USA $150 - $199 51-200
DockYard 5.0 2010 USA USA $150 - $199 51-200
Merixstudio 4.8 1999 Poland Poland $50 - $99 201-500
OpenXcell 4.8 2008 India India, USA $25 - $49 201-500
Hyperlink InfoSystem 4.9 2011 India India, USA, UK, UAE $25 - $49 51-200
ELEKS 4.8 1991 Ukraine Ukraine, USA, UK, Germany $50 - $99 1001-5000
WillowTree 4.9 2007 USA USA $150 - $199 501-1000
Chop Dawg 4.8 2009 USA USA $100 - $149 11-50
S-PRO 4.9 2014 Ukraine Ukraine $50 - $99 51-200
MLSDev 4.6 2009 Ukraine Ukraine $50 - $99 201-500
Binary Studio 4.9 2005 Ukraine Ukraine, USA $50 - $99 201-500
FINANTEQ 4.7 2008 Poland Poland, UK, USA $100 - $149 201-500

NEKLO 

NEKLO Fintech Development Company Logo

NEKLO is an international software development company founded in 2009 and headquartered in the USA. With development offices in Belarus and Ukraine, NEKLO specializes in providing end-to-end software solutions, including custom web, enterprise and mobile application apps. The key domain expertise includes e-commerce, healthcare, and fintech software development. They cater to businesses of all sizes, offering expertise in Magento and Shopify platforms. NEKLO's team, consisting of 51-200 professionals, is dedicated to delivering high-quality solutions that align with their clients' business goals.

Key Services:

  • Custom Software Development
  • Fintech Software Development
  • Healthcare Software Development
  • E-commerce Solutions
  • Mobile App Development

Technology Expertise: Java, Python, PHP, Magento, Shopify, React Native, Angular, Flutter, Node.js, AWS (Amazon Web Services), Docker, iOS, Android

Valued For (based on Clutch reviews):

  • Usability and security development approach
  • Transparent, visible and well-documented processes
  • Clean, sustainable code
  • Timely project delivery within the budget

Team size: 50-200

Clutch Rating: 5.0

Fueled

Fueled Fintech Development Company Logo

Fueled is a renowned mobile app development company founded in 2008 and headquartered in New York, USA. The company specializes in creating custom mobile apps for various platforms, including iOS and Android, as well as offering services in web development, UI/UX design, and digital product strategy. Fueled is known for its expertise in crafting cutting-edge digital experiences that drive business growth and engage users effectively.

Key Services:

  • Mobile App Development
  • Web Development
  • UI/UX Design
  • Digital Product Strategy

Technology Expertise: iOS, Android, React Native, Node.js, Ruby on Rails, Python, Swift, Kotlin

Clutch Rating: 4.9

Intellectsoft

Intellectsoft Fintech Development Company Logo

Founded in 2007, Intellectsoft is a global software engineering company with headquarters in the USA and operations in multiple countries including the USA, UK, Norway, and Ukraine. With a team size ranging from 1001 to 5000 employees, Intellectsoft has established itself as a leading provider of digital transformation solutions. 

Key Services:

  • Custom Software Development
  • Mobile App Development
  • Enterprise Solutions
  • Blockchain Development

Technology Expertise:

  • iOS, Android, Hybrid Mobile Development
  • Java, .NET, Node.js, Python
  • Blockchain, Artificial Intelligence, Internet of Things
  • DevOps, Cloud Computing, Big Data Analysis

Clutch Rating: 4.9

ArcTouch

ArcTouch Fintech Development Company Logo

ArcTouch, established in 2008, is a USA-based software development company. With headquarters in the USA and operations focused in the same country, ArcTouch accounts for a team size ranging from 51 to 200 employees. ArcTouch's customer satisfaction has earned it a reputation as a trusted partner for businesses seeking to create engaging and impactful mobile applications.

Key Services:

  • Mobile Strategy
  • Mobile App Design
  • Mobile App Development
  • Cross-Platform Development

Technology Expertise:

  • iOS (Swift)
  • Android (Kotlin)
  • Xamarin, React Native

Clutch Rating: 4.9

DockYard

DockYard Fintech Development Company Logo

DockYard, established in 2010, is a USA-based software consultancy firm specializing in web application design and development. With a team size ranging from 51 to 200 employees, DockYard is known for its expertise in creating custom software solutions for clients across various industries. The company offers a range of services including product strategy, user experience design, and full-stack development using modern web technologies. 

Key Services:

  • Product Strategy
  • User Experience Design
  • Web Application Development
  • Full-Stack Development

Technology Expertise:

  • Ruby on Rails
  • Ember.js
  • Elixir, Phoenix Framework

Clutch Rating: 5.0

Merixstudio

Merixstudio Fintech Development Company Logo

Merixstudio, founded in 1999, is a Poland-based software development company that delivers digital products for startups, mid-sized companies, and enterprises. With a team size ranging from 201 to 500 employees, Merixstudio offers a comprehensive range of services including web development, mobile app development, and UI/UX design. The company's expertise lies in creating robust and scalable software solutions using cutting-edge technologies. 

Key Services:

  • Web Development
  • Mobile App Development
  • UI/UX Design
  • Product Discovery Workshops

Technology Expertise:

  • React, Angular, Vue.js
  • Python, Django, Flask
  • iOS (Swift), Android (Kotlin)

Clutch Rating: 4.8

OpenXcell

OpenXcell Fintech Development Company Logo

OpenXcell, founded in 2008, is an India-based software development company with a strong presence in both India and the USA. With a team size ranging from 201 to 500 employees, OpenXcell offers a wide range of services including mobile app development, web development, and digital marketing solutions. The company works with startups, SMEs, and large enterprises. 

Key Services:

  • Mobile App Development
  • Web Development
  • Digital Marketing
  • IT Consulting

Technology Expertise:

  • iOS, Android
  • React Native, Flutter
  • Node.js, Python

Clutch Rating: 4.8

Hyperlink InfoSystem

Hyperlink InfoSystem Fintech Development Company Logo

Hyperlink InfoSystem, established in 2011, is an India-based software development company with a global presence, including offices in India, the USA, the UK, and the UAE. With a team size ranging from 51 to 200 employees, Hyperlink InfoSystem offers a comprehensive range of services including mobile app development, web development, and digital marketing solutions. 

The company is known for its expertise in delivering innovative and cost-effective software solutions to clients across various industries. Hyperlink InfoSystem's commitment to quality and customer satisfaction has made it a preferred choice for businesses seeking reliable technology partners.

Key Services:

  • Mobile App Development
  • Web Development
  • Digital Marketing
  • AR/VR Development

Technology Expertise:

  • iOS, Android
  • Unity, Unreal Engine
  • PHP, Laravel, React.js

Clutch Rating: 4.9

ELEKS

ELEKS, founded in 1991, is a Ukraine-based software development company with a global presence, including offices in Ukraine, the USA, the UK, and Germany. With a team size ranging from 1001 to 5000 employees, ELEKS offers a wide range of services including custom software development, QA and testing, and IT consulting. The company operates across various industries including fintech.

Key Services:

  • Custom Software Development
  • QA and Testing
  • IT Consulting
  • Product Design

Technology Expertise:

  • .NET, Java, Python
  • JavaScript (Node.js, Angular, React)
  • Cloud Computing, Big Data

Clutch Rating: 4.8

WillowTree

WillowTree Fintech Development Company Logo

WillowTree, founded in 2007, is a USA-based software development company specializing in mobile app development and digital product design. With a team size ranging from 501 to 1000 employees, WillowTree offers a range of services including mobile strategy, user experience design, and full-stack development. 

The company is known for its expertise in creating engaging and user-friendly mobile experiences for clients across various industries with key focus on mobile.

Key Services:

  • Mobile Strategy
  • User Experience Design
  • Full-Stack Development
  • Quality Assurance

Technology Expertise:

  • iOS (Swift)
  • Android (Kotlin)
  • React Native, Xamarin

Clutch Rating: 4.9

Chop Dawg

Chop Dawg Fintech Development Company Logo

Chop Dawg, established in 2009, is a USA-based software development company specializing in mobile app development and web development. With a team size ranging from 11 to 50 employees, Chop Dawg offers a range of services including product strategy, UI/UX design, and software engineering. The company is known for its expertise in delivering software solutions to startups and enterprises alike. Chop Dawg's commitment to transparency and collaboration has made it a trusted partner for businesses seeking to bring their ideas to life.

Key Services:

  • Product Strategy
  • UI/UX Design
  • Mobile App Development
  • Web Development

Technology Expertise:

  • iOS (Swift)
  • Android (Kotlin)
  • Ruby on Rails, React.js

Clutch Rating: 4.8

S-PRO

S-PRO Fintech Development Company Logo

S-PRO, founded in 2014, is a Ukraine-based software development company specializing in blockchain development, web development, and mobile app development. With a team size ranging from 51 to 200 employees, S-PRO offers a range of services including product strategy, UI/UX design, and software engineering. The company is known for its expertise in fintech and blockchain development. S-PRO's commitment to quality and customer satisfaction has earned it recognition as a top software development company.

Key Services:

  • Product Strategy
  • UI/UX Design
  • Web Development
  • Mobile App Development

Technology Expertise:

  • Blockchain (Ethereum, Hyperledger)
  • React.js, Vue.js
  • iOS (Swift), Android (Kotlin)

Clutch Rating: 4.9

MLSDev

MLSDev Fintech Development Company Logo

MLSDev, established in 2009, is a Ukraine-based software development company specializing in web and mobile app development. With a team size ranging from 201 to 500 employees, MLSDev offers a comprehensive range of services including product strategy, UI/UX design, and software engineering. The company delivers user-centric software solutions to global clients. 

Key Services:

  • Product Strategy
  • UI/UX Design
  • Web Development
  • Mobile App Development

Technology Expertise:

  • Ruby on Rails, React.js
  • iOS (Swift), Android (Kotlin)
  • Flutter, React Native

Clutch Rating: 4.6

Binary Studio

Binary Studio Fintech Development Company Logo

Binary Studio, founded in 2005, is a Ukraine-based software development company specializing in web and mobile app development. With a team size ranging from 201 to 500 employees, Binary Studio offers a range of services including product strategy, UI/UX design, and software engineering. The company is known for its strong focus on a rigorous recruitment process, hiring only the top 0.5% of applicants.

Key Services:

  • Product Strategy
  • UI/UX Design
  • Web Development
  • Mobile App Development

Technology Expertise:

  • Ruby on Rails, React.js
  • iOS (Swift), Android (Kotlin)
  • Node.js, Angular

Clutch Rating: 4.9

FINANTEQ

FINANTEQ Fintech Development Company Logo

Founded in 2008, FINANTEQ is a Poland-based software development company specializing in fintech solutions. With a team size ranging from 201 to 500 employees, FINANTEQ offers comprehensive services tailored to the finance industry, including mobile banking apps, digital wallets, and payment solutions. The company is known for its expertise in delivering secure and innovative software solutions that enhance the digital banking experience for clients and end-users alike.

Key Services:

  • Mobile Banking Apps
  • Digital Wallets
  • Payment Solutions
  • Fintech Consulting

Technology Expertise:

  • iOS (Swift)
  • Android (Kotlin)
  • Blockchain, Security Encryption, API Integration

Clutch Rating: 4.7

Why Hire a Professional Fintech Development Company

Why hire a professional finance app develoment company: domain expertise, security, support, innovative tech.

When choosing a provider, it seems a no-brainer to count on someone with the right experience. But why does it actually matter in the fintech sector? The answer is that finance app development has its specific features as well as best practices. Implementing them takes domain expertise. 

Let’s examine the reasons and the advantages of hiring a professional provider for finance app development.

Ensure Your App Security 

Finance apps are the number one goal for cyber-attacks. Creating a finance app free from vulnerabilities requires proper secure authorization methods, data encryption, and data protection tools. Depending on the complexity and use case, you may require implementing biometric verification, multi-factor authentication, and secure login protocols.

Finance App UX and UI Best Practices

Finance apps have their best practices with user experience and design, too. Creating a good-looking finance app with an intuitive interface and clear navigation takes practice. Professional companies have designers in-house who can help you implement a consistent look for your app. The ultimate benefit? Users will love and trust it. The otherwise alternative? 1-star reviews and endless complaints about the app’s friction and inconvenience.

Regulatory Compliance

Finance apps have strict regulatory compliance requirements. The list of GDPR, PCI DSS, AML, KYC, and SOX varies depending on the use case. Besides that, you need to provide users with clear terms of service, privacy policies, and disclosures. Professional finance app companies can see legal documentation and help launch your app successfully.

Complex Financial Integration

A seasoned finance app development company can help you integrate your solution with multiple financial institutions and third-party services. Integrating your app with banking systems and the best payment gateways takes expertise.

Clean Code Easier To Support

Financial apps handle massive amounts of data. And it’s not just any data, but the most sensitive one. Professional finance app developers adhere to best practices in coding and know how to implement robust measures to protect your app against fraud and breaches. You get a secure, reliable app that performs well under various conditions. Debugging and supporting such code takes less time and effort (read: budget) than a messy one.

Access to Advanced Technologies

Professional developers have access to the latest tools and technologies. You can plan for advanced features such as blockchain for secure transactions, banking personalization for smarter user experiences, and cloud computing for scalability.

Performance Optimization

You need to ensure your app can quickly process user requests on both the front end and back end. This requires separate efforts with caching, Content Delivery Networks (CDNs), load balancing, and database implementation. And it is just the tip of the iceberg. In practice, more aspects of finance app development require a seasoned hand. 

Dedicated Maintenance

The app launch is just a first step. To remain relevant and functional, you need ongoing support and updates. Professional finance app development service includes comprehensive maintenance, bug fixes, performance enhancements, and feature updates. 

Cost Saving

Finance or mobile banking app development may seem a significant investment, with projects ranging from X to XX. Yet, hiring a professional fintech development company like NEKLO proves to be cost-effective. Our expertise and efficient processes reduce the likelihood of costly mistakes. Additionally, we offer flexible pricing models that fit your budget and project requirements.

Summing up

Fintech software development has many intricacies. You need to know the domain, and quite often, you need to have a narrow expertise in the general mobile development stack. Last but not least, creating a finance app is about the quality vs. cost-effectiveness dilemma. While some may say you can’t have both, we dare disagree. Get in touch with us to discuss your finance app development project.