FinTech App Development Cost

FinTech App Development Cost & Features

Technology has a role to play from the most superficial industry or economic subsector to the most complex and advanced ones—one of the common areas that rely on technology in banking. Most of the financial institutions in most regions rely on app development to make financing more manageable. On the same line, the hottest trends get clear day by day, and each technological trend works towards advancing the banking industry to a better level. FinTech app development is one of the formal talks in town regarding the FinTech industry and banking. The commonness of Fintech sources from the capabilities of evaluating a good number of online payment methods. The FinTech trend has created new opportunities for most FinTech organizations.

As per reports, by 2025 the global fintech market value is anticipated to reach $305 bn.

Before you understand what it will cost to build a FinTech Application within an Indian setting, let’s first understand the basics of FinTech.

Types of FinTech applications 

Three FinTech applications are crucial, therefore the need to understand them. Among the most incredible FinTech-related applications are;

  • Banking applications that support credit, money transfers, bill payments, etc.
  • Stock trading apps, saving apps, loan apps, financial advice applications
  • Apps integrated with payment gateways- supported using bitcoin and blockchain.

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Fintech App Features to include 

Still, before you quickly get to costs associated with building FinTech applications, there is a range of considerations to cover. Therefore, you have to understand the features considerably when developing a FinTech application. What are some of the elements critical for developing a FinTech application? The following factors are essential:

Fintech App Features

  • Develop an adequately secured application 

Data security is critical when it comes to financially-related issues. Since it is a common area covered by FinTech, a FinTech application must touch on the security aspect. With improved and advanced security, customers can rest their trust in a range of applications that handle finances. Some of the standard security measures FinTech ensures to undertake include: locking out a user with a series of failed login attempts, hiding most digits of card numbers (usually, display of three last digits is standard.

FinTech is speedily adapting blockchain security to ensure a secured system that caters to the customer base’s needs. With blockchain-related solutions, there is keeping of records, validation, and administration of each transaction. Messing with commerce is a hardcore error.

  • Innovations with the inclusion of Artificial intelligence 

Artificial intelligence is also another computer science field that has a significant role to play in banking. Usually, most banking applications rely on huge processing needs. Most FinTech apps support the use of Artificial Intelligence in different ways. For instance, through AI, FinTech applications support user-friendly chatbots, advanced financial planning, detection of fraudulent behavior, quick, efficient, and reliable transactions.

  • Use of immersive technologies to generate a reliable customer experience 

Through AR and VR, banking customers can broadly visualize a range of banking functions.

  • Incorporating blockchain into financial applications 

Currently, blockchain is slowly growing roots and proves to have a reliable user experience. It also has more generous support for risk management on the grounds of business and financial operations. Most FinTech organizations are more optimistic about the adoption of blockchain in most services provided.

Check: blockchain development services

  • Advanced notification system 

FinTech apps consider the notification panel as mandatory. Therefore, most FinTech applications have a greater capacity to support the tracking of ATM transactions, money transfers, logins, etc. With the support of such excellent features, the user of a FinTech application can quickly identify any suspicious account activity.

  • The easy but highly secured registration process 

Security is top-notch when it comes to banking applications. FinTech applications ensure a flexible, secure, and more efficient registration process. It incorporates the latest technologies such as biometrics hence cutting off the risk of insecurity.

With all of these factors considered under FinTech app development, you can roughly estimate the costs associated with FinTech App development. However, in India, the cost of building a FinTech app isn’t much different from the other usual costs of developing FinTech applications. Let us establish the cost of building a FinTech application in India.

FinTech App Development Cost in India

In India, FinTech’s future seems brighter. Other countries, too, are advancing in the FinTech app. Developing a FinTech application in India relies on a range of features. Some of the essential factors related to FinTech app development cost are the type of platform needed, developer’s cost estimates, among more. Most FinTech app development costs range between $20,000 to $30,000. It is just an estimate that considers all the needs of a complex financial application.

Developing a FinTech application in India seems quite affordable because of several factors. Some of the most critical factors related to developing such expensive applications include the inclusion of a range of features in the App. Some of the features that raise costs in the process of developing FinTech applications include:

  • Data Analytics

It is a core factor in FinTech apps and helps users keep track of financial activities. While this feature may sound too basic, it is essential to keep every financial app user’s financial records. With this feature incorporated in FinTech apps, users can track and analyze their past financial records. They can also report management, generate transaction documentation, etc.

  • Artificial Intelligence

With artificial intelligence, the financial sector has seen a considerable change that has seen banks conduct activities quickly and with low costs. Artificial intelligence is a substantial inclusion into the FinTech applications and raises the costs of building such applications.

  • Personalization

Most FinTech apps ensure AI integration that considerately suggests directions users can take when banking. It is also a reliable source for offering banking solutions and answers to users. It advances interactivity between the user and the financial applications. Incorporation of such technologies in FinTech applications calls for some extra costs.

Typical products in the Indian FinTech industry 

There are many products FinTech offers to customers in India and worldwide. Usually, FinTech is business-based. Its company subcategories include cryptocurrencies, including Bitcoins, PPCoins, LiteCoins, etc., Blockchain technology, smart contracts used for the non-mediator safe exchange of money and data, RegTec, which ensures compliance through legal regulations, and much more.

Top technologies in Fintech Application development 

Identifying the appropriate technology is essential in adhering to the base technology required to run an app development project. Usually, each programming language better serves the needs of given tasks. Therefore, it is crucial to identify what the programming project entails to establish the right programming language to use. For instance, in Fintech App development, several programming languages are essential. Some of the leading technologies or programming languages that run the FinTech market include Java, Python, C++, C#, Ruby, among many more.

The programming languages used in programming Fintech applications serve different programming purposes. Fintech programming applications have several features to cater to, and each language at least confines to advancing on or more features on the same. For instance, from the languages used by Fintech, Java is the leading as it boasts a high dependability level. Most financial institutions rely on Java programming because of its increased dependability level. Since Fintech applications demand more extraordinary programming features and security, Python is a greater necessity that can address most of the programming needs. Therefore, it is considered one of the best languages when programming Fintech applications.

Factors influencing the FinTech App Development cost

Ideally, when doing your market research when trying to get the best Fintech app developers for your project, you may realize some price variations. The difference in the pricing is influenced by the following elements:

  • Time required to finish the app development process

The delivery of the Fintech app plays a big role in determining the total cost. If the team working on the project is bigger, they will divide the tasks effectively, and the project will be delivered within a shorter time frame.

On the other hand, if the people working on the project are fewer, it means they will take longer to deliver, hence less costs of developing an app. Besides, the time required to finish an app will depend on the type of app, as described in the table below:

Type of an App

Approximate Time Required for Development


2,000-3,500 hours

Personal Finance

1,500-2,500 hours


2,000-2,500 hours


1,500-2,500 hours


2,000-3,000 hours

  • UI/UX Design

A Fintech app with a user-friendly interface will definitely attract a huge fan base. To achieve a user-friendly interface, there should be a seamless design for the app. This means selecting all the requirements, such as fonts, white spaces, and simple vocabularies. This means hiring top talents for UI/UX design, and this will cost more, but the product will be worth the investment.

  • Product Requirements

Different clients will want the same product but with different requirements. This affects the overall cost of developing a Fintech app. Under product requirements, we have:

Complexity of the product – This refers to the concept used to bring the product to life. The whole process begins with the development process, testing phase, and deployment phase. If a project is quite complex, it means the need for extra features, resources, tools, and the technology required. Therefore, a complex product will attract more charges compared to a less complex product.

The scope of work – The scope of work refers to the process of collecting the required features for the product. Therefore, the scope of work will determine how big or small the project is and the required time frame to accomplish the project. This affects the overall Fintech app development.

Other non-functional project requirements like app performance, dependability, usability, security, and scalability also play a crucial role in determining the overall cost of app development. These elements are crucial as they determine how the end-users will receive the product.

  • Technology stack

Again, the right technology stack required to make the project successful determines the overall app development cost. Therefore, based on your project’s requirements, you must select the appropriate tools and programming language the developers will use, and this affects the overall costs.

  • Features integrated into the app

The number of features to include in a Fintech app will affect the overall costs. Some of the common features include user profiles, payment methods, card management, and admin panel, among many others. An app with many features will attract higher costs.


Most organizations are gradually steering towards the adoption of financial applications. Therefore, it has provided a more fantastic opportunity for FinTech organizations, specifically in India. From the analysis of what FinTech applications demand during the development process, you can estimate costs associated with them. From the features desired of each FinTech application within or outside India, you can establish whether or not the cost of development is expensive. However, it is critical to realize that development costs for FinTech apps vary according to the needs. Complex apps require complex features, which in turn demand higher prices. On the contrary, more straightforward applications won’t demand extra costs as the complex ones would do. Therefore, you can confidently hire developers to prepare a Fintech application based on the needs of the application.

Looking for Fintech App Development? contact mobile app development company!

Also check: cost of developing an app in India | currency converter app

Written by:

Muzammil K

Muzammil K is the Marketing Manager at Aalpha Information Systems, where he leads marketing efforts to drive business growth. With a passion for marketing strategy and a commitment to results, he's dedicated to helping the company succeed in the ever-changing digital landscape.

Muzammil K is the Marketing Manager at Aalpha Information Systems, where he leads marketing efforts to drive business growth. With a passion for marketing strategy and a commitment to results, he's dedicated to helping the company succeed in the ever-changing digital landscape.