The financial services sector is in the middle of a digital revolution (Digital Transformation) that represents the most significant change in banking for centuries. When talking about Fintech it’s usually about the financial technology companies that could provide traditional financial companies with new benefits, profits and successful outcomes. Nowadays, fintech is helping to achieve better results even for the banking sector. Of course, there is such an opinion that FinTech startups present a credible threat to incumbent banks, but indeed if we implement the workflow of Fintech into traditional banking systems, both will make benefits.
Fintech innovation can be implemented in at least 3 distinct spheres:
- Where banks and other financial institutions utilise technology to upgrade and update corporate systems and processes. And this is about the implementation of Agile workflow and iterations.
- In the B2B sphere: where a bank is the client, or partner of a FinTech enterprise – purchasing, investing in, or co-developing FinTech products in order to modernise its existing customer-facing services, or to offer new ones.
- In the B2C sphere: where finTech enterprises compete against incumbent banks and other financial services institutions for market share. They do so either by reimagining conventional products and services – such as payment services and loans – in ways that offer superior value and user experience.
The main idea of fintech innovation is that FinTech firms and banking systems are coming together to achieve a better result. The result is a transformation of how consumers interface with financial services, who provides those services to them, and how they transact in the wider economy.
Digital payments are a driving force in the FinTech sector. With a 12.8% projected compound annual growth rate from 2019 to 2024, the total value of transactions is expected to reach $6.7 trillion by 2024, according to Statista. It’s obvious now that financial services and technology solutions are an integral part of our life. This emphasizes the need for companies to make a priority on innovation and technology implementation.
We’ve created a Top 7 fintech software development companies according to such characteristics of companies as Team Strength, Transparency, Past History Work, Diversified Portfolio, Technical expertise, Strictly NDA Agreement as well as references and reviews at Goodfirms and Clutch.
1. Praxent
A US (Texas) based IT company that specializes on Fintech projects. The company has a wide experience working with companies from F500 to startups for over two decades.
Pricing $100 – $149 / hr
Employees 50 – 249
Founded 2000
Link https://praxent.com
2. Sidebench
Sidebench is an award-winning UX design, mobile app, fintech software development company in Los Angeles. It has a diverse group of digital strategists, technologists, finance software developers and opinion leaders. The agency provides financial software development outsourcing services and comprehensive financial technology solutions to meet the changing needs of modern finance. Among Top Clients of the company are Facebook, Microsoft, SONY and others.
Pricing $150–199/hr
Employees 249-500
Founded 2000
Link https://sidebench.com
3. Intellectsoft
Source: twitter.com
It’s an IT company based in Palo Alto, California. It provides top-notch development solutions for global and Fortune 500 companies with a primary mission to assist businesses in adopting new technologies in the financial industry. It’s known by providing solutions for payment processing, digital wallets, cross-border payment, trading, and securities.The company has been recognized as a top financial software development company, according to Clutch.
Pricing $25–49
Employees
Founded 2007
Link https://www.intellectsoft.net/
4. FortySeven Software Professionals
FortySeven is a leading European based software development, IT consulting, and IT outsourcing company. Company is known for providing prominent solutions in the FinTech industry, like Digital Banks development and providing services for official banking systems in the North Baltic. It’s recommended by government institutions of North Baltic countries as a partner in PSDS2 and other solutions providers. The company is also well known in the Gas and Oil market by providing custom CRM development, Oil and Gas ERP development, ERP development for Energy Companies, Core Banking Software, Digital Banking Application Development, Trading Platform Development, RPA, BPD, BI and more.
Pricing $25–49
Employees 200-500
Founded 2006
Link https://fortyseven47.com/
5. Itransition
Source: itransition.com
The company is well known for its commitment to innovation and more than 20 years of professional experience. The company provides a full spectrum of software consulting and development services. It has been recognized among the world’s leading software outsourcing providers by different industry authorities and highlighted in the following lists.
Pricing $49-150
Employees 500-999
Founded 1998
Link https://itransition.by/
6. The Sneakers Agency
The Sneakers Agency is a full-service digital product development company and is known for providing FinTech solutions for Web and Mobile. From the time of establishment the company has been a trusted partner for more than 50 startups and other brands like Pepsi, Vimeo, Barbarian. Though, the core competencies are related to providing FinTech software development. The company also has been listed as a top financial software developer, according to GoodFirms.
Pricing $100–149
Employees 10-49
Founded 2014
Link https://sneakersagency.com/
7. Spire Digital
Source: bizjournals.com
The company has been in the market of IT solutions for more than two decades. It is based in the US, Denver. It is providing services for many companies, starting from startups and to large corporations. The company has a very prominent portfolio and they were first who built the industry’s web application for M&A payment administration. It is an interesting fact that the founder of the company, Mr. Gellman is a sought-after speaker and has given lectures at The University of Denver Daniels College of Business, The University of Colorado Leeds School of Business, and South by Southwest among others who provides those services to them, and how they transact in the wider economy. Companies like GeekyAnts can help you with that.
Pricing $100–149
Employees 50-249
Founded 1998
Link https://www.spiredigital.com/
