How much does it cost to build banking software?
The banking software development costs vary depending on many factors, including the functionality scope, third-party integrations, architecture choice, cooperation type, team size, and location. Depending on the size and needs of your business, the cost can start at $30,000 and go up.
We are ready to deliver a comprehensive action plan with accurate cost and time estimates at your request. Moreover, we offer different cooperation models (team augmentation or full-time dedicated team) and contract types (dedicated team, fixed price, time & material) to choose from. Either way, you can contact us at any convenient time so our managers can make an accurate estimate matching your primary needs, budget and deadlines.
How long does banking software development take?
Banking software development can take several weeks to months, depending on the service you need, features you want to implement, and any extra banking software capability. We recommend consulting with our managers so we’ll prepare an estimated timeframe, taking into account all your business requirements. From our side, we guarantee the delivery of a market-ready online solution according to the deadlines set at the BA phase.
What type of banking software have you developed?
Northell’s team qualifications and relevant experience in building different Fintech solutions help us bring many types of successful banking software to the market. Some of the banking software we have already developed are:
- Online banking solutions
- Neobanking apps
- Investment apps
- Personal finance apps
- Mobile banking apps
Our dedicated team provides full project coverage from business analysis to long-term maintenance, tools, and resources to help your business scale. We will be glad to apply our competency to a new banking software development project. Share your needs and get consulted as soon as possible.
How do you ensure banking software security and compliance?
Our extensive experience in developing different banking solutions shows us the high importance of multi-level data security and regulatory compliance. That’s why we implement best-in-class security practices throughout the development process while ensuring data safety, protection against cyber threats, and compliance with all applicable regulations and standards, including PCI DSS, ISO 9001, and ISO 27001 certifications. For each project, we assign only tech-savvy developers and top-level designers to carry out tasks according to Fintech industry standards and compliances.
Some of the effective security practices we use include:
- Two-factor authentication (2FA) for user registration and authorization
- Biometrics implementation
- Focus on DDoS attacks prevention
- Ensuring compliance with SSAE 16 standard
- Conducting regular software backups
- Conducting regular software vulnerability scanning and penetration tests
What modern technologies do you work with?
We introduce modern tools into businesses to support and optimize critical banking systems and customer services. We have a strong background working with cutting-edge technologies like contactless technologies (RFID and NFC), artificial intelligence, machine learning and smart bots, biometrics, neobanking, and blockchain. Based on these technologies, our team is committed to building banking software that delivers an exceptional customer experience by offering tailor-made advanced features, including:
- Live chatbot
- Self-service features (e.g., set or change pin, temporarily lock debit or credit card, etc.)
- Budget and expenses forecasting
- Robo-advisory services
- AI-powered data analytics
- Crypto banking
- Voice payment technology and more
If you want to explore these modern technologies’ efficiency on a full scale, feel free to contact us and ask for professional help.