Our expertise has been honed by hundreds of projects and thousands of lessons learned. We hire business analysts with degrees in finance and train them to become our fintech consultants. Perform security audit and penetration testing, identify and eliminate vulnerabilities, and ensure compliance with security standards such as SOX, HIPAA, PCI DSS, GDPR, ISO 27000, etc. Engineer tax calculator apps equipped with the ability to estimate refunds in any jurisdiction, validate tax credits and exemptions, and more.
However, when you’re using off-the-shelf software, you’d be waiting longer for the support team to get back to you. Suggesting optimal features, architecture, and tech stack for the accounting solution. Compliance with GAAP , SOC1 and SOC2, SOX, GDPR , ZATCA regulations , industry- and country-specific regulations. Customizable templates for various financial reports, including balance sheet, profit and loss statement, statement of changes in equity, customer statement, tax summary, revenue recognition report, and more. Recording and tracking costs of goods sold for a specified accounting period. Rule-based consolidation of GL account balances across multiple business entities (company branches, subsidiaries, etc.).
Web and mobile
ERP – to build budgeting and forecasting models for various types of expenses; for data-driven operational and strategic planning. Automated calculation of user-defined financial parameters under various models. The main stages of the development process are represented in the image below. Implies interactive graphical user interfaces building to ensure convenient huge data sets visualization and quick price complex trades within seconds. The company is headquartered in the US, Poland, and Europe and hosts over 20 Quality Analysis, Research, and Development teams.
- Our expertise has proven to deliver quality financial software development including banking software, web and mobile apps that fit the industry trends, standards, and regulations.
- If you’re planning to launch your FinTech software as a mobile application, then push notifications are one of the essential functionalities.
- Faster financial model creation due to automated financial data consolidation and customizable financial model templates.
- By integrating our software, you can create an efficient ecosystem that optimizes operations and provides a seamless platform for financial transactions.
- Outsourcing these tasks — and taking advantage of automation — enable IT organizations to improve software performance while focusing on core business tasks.
- Additionally, the business offers complete support services after a product launch.
Today whether it is CRM or inventory management software or ERP software, no industry can think of running their business without custom software developed based on their business processes. Financial services like trading, consumer banking, etc have become digital and financial institutions are heavily investing in custom fintech software, P2P payment systems, security, etc. Accounting software is the backbone of each company’s digital bookkeeping and financial management system. Loan management software development to cover lending processes, supported with AI-based solutions to speed up decision making.
Leveraging Next-Gen Technologies
Build custom pricing management software to understand your customers’ financial needs and wants and set reasonable market-adequate product rates. Go for a single comprehensive digital solution for your financial industry business needs. Let us develop a cohesive, cost-effective, and robust platform to help your company take off. Software development for financial services brings online banking products offering financial services via digital channels. For years financial industry players focused their efforts on what they have to offer instead of what their customers want.
By designing simple, fast, and secure payment options, financial institutions can offer customers an omni-commerce experience across all payment channels, including cards, cash, or digital. Fingent has helped businesses to implement game-changing automation – from blockchain-powered smart contracts to ensure the security and credibility of financial transactions to crypto-currency solutions. Fingent has helped financial institutions build customized software to boost customer interactions and experience. Artificial Intelligence enables software to emulate human decision-making and learning.
Custom Financial Software Solutions
Online and mobile apps provide functionality for account management, payments , money transfers , virtual card creation and management, suggestions on the nearest of the bank’s 90+ branches, and more. Financial software development costs may vary significantly custom development in banking depending on the type of software you want to implement, as well as on the scope of the solution’s functional and non-functional capabilities. Our Software Outsourcing services are end-to-end solutions powered by our Top 1% IT Talent team.
The team has to discuss the future project and define its scope, so that they can assess the timescales and resources needed to complete it. Depending on the product you need – a service for personal financial management, trading platform, or blockchain solution, – the team analyzes the existing market and writes a detailed business plan. Custom financial software development refers to a variety of technology-driven financial services. Financial firms use technology as a key business model component to provide a wide range of customer-centric services.
Cost of Developing Financial Software for BFSI Companies
Take your CRM platform to the next level or develop a new one from scratch. We implement cutting-edge technologies like voice recognition and Optical Character Recognition to fully optimize all business management processes within your custom-built system. We will also create custom web and mobile apps to extend the capability of your CRM. Make use of a smart back-end system designed to streamline your current credit management workflow. Our full-cycle solutions will take care of everything from loan apps to servicing to cloud integration. We will automate Know Your Client processes so your investment advisors can easily analyze risk tolerance, investment knowledge, and financial position of your clients.
We’ll select the finest technological solutions, build top-notch product architecture, and integrate the pool of services to make your application stand out. Yes, it is most possible to integrate financial software with existing systems. However, the level of integration may depend on several factors, such as the software and systems involved, the necessary https://www.globalcloudteam.com/ level of customization, and the expertise of the IT team performing the integration. It is recommended to consult with a qualified software vendor, such as Scalo, to determine the best approach for integrating financial software with your existing systems. Proper integration can improve your financial software’s accuracy, efficiency, and productivity.
Emerging Technologies Driving Innovation in the BFSI Sector
Agile development breaks requirements into consumable functions and delivers rapidly on those functions through incremental development. A feedback loop helps find and fix defects as functionality continues to deploy. Custom software, and its development, is also referred to as bespoke software. One of our internal engineers has commented about how clean their code is. The core of the analytical system we’ve delivered is based around processing huge amounts of data gathered from reputable sources on the Web. Belitsoft provides enhanced 20/7 support for clients who need special attention and constant updates.
Velvetech supported a business funding company with the implementation of a customized Contact Center Product Suite. The solution facilitated the company’s services, enabling the team to work in a consolidated manner and increasing sales processes efficiency. Our financial software developers are ready to apply speech recognition, AI-powered communications, and other smart technologies and integrations to customize your CRM. Smart sensors generating and exchanging data bits within interconnected big data platforms allow us to build better IoT-based risk management and trading solutions. The next step depends on whether you have a clear product vision and detailed requirements. If not, we recommend that you start your finance app development project with the discovery phase.
Fintech consultancy to manage your growth
A new use case emerges when you think you have an app or software for every outdated banking process. After all, who would have thought that there would come a time when virtual currencies would become more lucrative than fiat money? When it comes to FinTech, the sky is the limit in terms of new model development. The revenue of the fintech market has been steadily growing over the years with the increasing demand for digital financial services. Entrepreneurs should consider entering this space due to its immense potential and the lucrative revenue-making opportunities that it offers.