FinTech software development company

Q: How can outsourcing software development help FinTech businesses?

Outsourcing itself solves two main problems: Lack of qualified staff . Don’t have trained talents in your city or country? Then, outsourcing is a great option for you. It’s also a good option if you need to scale up your team and don’t have much time for recruiting the right talents. Price . Developers in Eastern Europe charge $50/h on average, while developers in the US or Canada charge $100-$150/h and over. So, outsourcing can help FinTech businesses hire experienced talents faster and cheaper resulting in reduced time to market and allowing to cut costs.

Does Cleveroad ensure compliance with FRS, Dodd-Frank, PA-DDS, PCI DSS, SOX?

Yes. As a financial software development company, we follow FRS, Dodd-Frank, PA-DDS, PCI DSS, SOX, and other standards to build software and applications. We’ve designed our own framework to make compliance with industry standards flawless.

What is FinTech development?

FinTech is an abbreviation for financial technology. It’s used for technology that’s aimed to automate and improve the delivery of services in the financial sector. For example, you don’t need to go to the bank to make a money transfer as you can do it using a banking app or website.

How can outsourcing software development help FinTech businesses?

Outsourcing itself solves two main problems:

Lack of qualified staff. Don’t have trained talents in your city or country? Then, outsourcing is a great option for you. It’s also a good option if you need to scale up your team and don’t have much time for recruiting the right talents.
Price. Developers in Eastern Europe charge $50/h on average, while developers in the US or Canada charge $100-$150/h and over.

So, outsourcing can help FinTech businesses hire experienced talents faster and cheaper resulting in reduced time to market and allowing to cut costs.

Is outsourcing a FinTech project a good idea?

It depends on your needs. If you already know an experienced team from your city or country and you’re okay with their rates, then outsourcing might not be the best choice. However, if you’re on a budget and the deadline is close, you should consider outsourcing.

There are a lot of experienced companies that are aware of your target country’s legislation and other FinTech-related details.

What kind of software is used in FinTech?

Here are some of the popular software and applications in FinTech:

Internet and mobile banking
CRM system for banking
P2P payment apps
Data analytics software
Lending software

What is the cost of developing a financial app?

Unfortunately, it’s not possible to answer that question without knowing the project details. The price of a mobile application depends on the number of hours the team would spend on its development. Still, there are too many factors influencing the development time:

Requirements (number of features and their tech complexity)
Platforms (iOS, Android or both)
Integrations (payment gateways, ERP, CRM)

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