How Much Does it Cost to Build a Fintech App?

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fintech app development cost

Fintech apps are becoming increasingly popular, offering innovative solutions to financial challenges and making it easier for businesses to manage their finances. But with the potential benefits come questions about the cost of fintech app development. How much does it cost to build a fintech app? In this article, we’ll examine all the factors that affect fintech development costs and offer some tips on how to estimate the cost of your project. Read on to learn more about fintech app development costs.

Fintech Market Overview

The fintech market has grown exponentially in recent years. According to Statista, the fintech industry is expected to reach a total value of $309 billion by 2022. Fintech apps are increasingly popular, with many businesses embracing them as a way to provide innovative financial services and products to their customers.

For those looking to enter the fintech market, one essential question is: How much does it cost to build a fintech app? The answer depends on a variety of factors, including the features and complexity of the app, the development team, and platform used, and more.

Fintech is a robust sector, and it is important to have a comprehensive understanding of the fintech landscape before developing an app. Understanding the fintech market will help inform product strategy, determine target users and potential competitors, and even provide insight into the cost of developing a fintech application.

To get an accurate assessment of fintech app development costs, it is important to consider all associated expenses. This includes the cost of hiring developers, purchasing infrastructure, and ongoing maintenance. It also involves weighing different fintech app development options – such as turn-key fintech solutions or custom fintech development services – depending on the features desired for the fintech app.

Read also: How to Build a Fintech Application?

Factors that Include the Price of Fintech App

Any financial technology app must first and foremost be built with a budget in mind. There are several factors that impact the cost of developing such an app, including the type of app that is being developed, the team involved in building it, and the technologies used to construct it. Here are some helpful points to consider when budgeting for your fintech app.

Cost to Build a Fintech App by Types:

The cost of building a fintech app depends on the type of services it provides. Generally, the cost can range from $10,000 to $250,000 and could even go higher depending on the complexity of the app.

  1. Mobile Apps: If you’re developing a mobile app, the cost can range from $15,000 to $30,000. The costs vary depending on the platform and its features.
  2. Web Apps: For web apps, the cost varies greatly depending on how sophisticated the design is and how many back end integrations are needed. They typically cost anywhere from $20,000 to $50,000.
  3. Payment and Money Transfer: Payment and money transfer apps typically range from $30,000 to $70,000+. This cost could increase if the app needs complex security protocols or other advanced features.

Cost Defined by Types of Teams:

The overall cost can also be affected by the type of team that is working on the app.

  1. In-house Team: If you are using an in-house team, it will typically take a longer amount of time to develop the app and therefore cost more money. The estimated cost for an in-house team usually ranges from $100,000 to over $1 million.
  2. Freelancers: On the other hand, you can hire a freelancer to help with specific tasks such as coding or designing. They are usually cheaper but don’t always provide the same level of quality as an in-house team would. The cost for hiring a freelancer can range from $10,000 to $40,000.
  3. Outsourcing: You can also outsource the development of your fintech app to a third-party firm. This is often more cost-effective than an in-house team and typically ranges from $30,000 to over $100,000.

Cost Defined by Types Of Apps:

The cost of building a fintech app can also vary depending on the type of app you are creating.

  1. Simple apps: A simple app such as a budgeting or savings calculator will typically be cheaper and range from $15,000 to $30,000.
  2. Medium complexity apps: Apps with more features such as a money transfer app or an investing app will usually cost around $50,000 to $100,000.
  3. Complex apps: These types of apps have advanced algorithms and integrations with other systems and can cost anywhere from $150,000 to over $250,000.

Overall, the cost of building a fintech app can vary greatly depending on the type of services it provides, the size and expertise of the team that is building it, and how complex the app is. Taking all these factors into consideration will help you determine how much your app may cost to develop.

Types of FinTech Applications

When determining how much it costs to build a fintech app, one of the first questions that need to be answered is what type of fintech application you want to develop. Fintech applications can range from relatively simple budgeting or investment tracking tools and mobile payment solutions to more complex peer-to-peer banking platforms and cryptocurrency exchanges. Three FinTech applications are acrucial, therefore there is a need to understand them. Among the most incredible FinTech-related applications are:

1) Banking and Payments:

Banking and payment fintech apps typically provide users with the ability to store, transfer, and track their money online. They also allow users to easily make payments using their mobile phones or other devices. Examples of this type of fintech app include Venmo, Cash App, Robinhood, and PayPal.

2) Personal Finance Management:

Personal finance fintech apps are designed to help users track and manage their finances more effectively. These fintech apps can provide users with a variety of features, such as budgeting tools, investment tracking, and savings goals. Examples of this type of fintech app include Mint, Acorns, and Stash.

3) Investment Platforms:

Investment fintech apps are designed to provide users with access to different types of investment products, including stocks, bonds, mutual funds, and ETFs. Examples of this type of fintech app include Robinhood, Wealthfront, and Betterment.

Generally, the cost of developing fintech apps depends heavily on the complexity and features of the app. The more complicated and feature-rich an app is, the more expensive it will be to develop. It is important to keep in mind that many fintech apps also require extensive security measures and compliance protocols to meet industry regulations, which can add to the overall cost of fintech app development. Additionally, the cost can vary depending on the developers and designers you choose to work with.

Ultimately, fintech applications are becoming increasingly popular as more people rely on them for a variety of financial services. Knowing the type of fintech application you need and understanding how much it will cost to develop it is an important part of the fintech app development process. By taking into consideration the features and complexity, as well as the expertise of developers and designers you choose, you can get a better understanding of how much it costs to build a fintech app.

Fintech App Features to Include

Developing an effective fintech app requires a sophisticated set of features that are tailored to the specific needs of each fintech business. Core fintech app features include digital wallets and payment processing, data management and analytics, customer authentication, and integration with third-party systems. Depending on the complexity of the app, additional features such as geolocation services or AI-driven automation may be required. All these elements will add to the cost of developing the fintech app.

1) Digital Wallets & Payment Processing:

The fintech app should be able to securely store customer data and process payments. To ensure secure transactions, fintech companies may need to integrate payment gateways like Stripe or PayPal, two-factor authentication measures, or other security protocols.

The basic flow of e-wallet payment
The basic flow of e-wallet payment

2) Data Management & Analytics:

A fintech app that needs to be able to collect data from customers and analyze it for trends and insights that can inform product decisions. This requires developing a platform for managing customer accounts and data and incorporating analytics tools that can surface meaningful patterns in the data.

Data management and analytics as a feature
Data management and analytics as a feature

3) Customer Authentication:

Customers must be identified before they can access an app’s features. Fintech businesses can use biometric authentication such as facial recognition or fingerprint scans, or they can integrate external authentication services like OAuth.

Customer authentication as a feature
Customer authentication as a feature

4) Integration with Third-Party Systems:

A fintech app needs to be able to interact with other fintech systems and banking APIs in order to facilitate transactions. This requires integrating the fintech app with third-party services such as banking and credit card companies.

Integration with third-party systems
Integration with third-party systems

5) Additional Features:

Depending on the fintech app, additional features such as geolocation services or AI-driven automation may be included. For example, fintech companies developing a personal finance app may include budgeting and goal-setting tools as well as automated investment portfolios.

6) UI/UX Design:

User experience (UX) design is a key factor in fintech app development and one that should not be overlooked. A fintech app must be easy to use, intuitive, and aesthetically pleasing in order to attract and retain customers. This usually requires hiring experienced UX designers to develop the interface.

7) Security Protocols:

Fintech apps handle sensitive data and must be able to protect customer information from malicious actors. This requires implementing robust cybersecurity protocols such as encryption and secure coding. Fintech businesses must also stay up-to-date on the latest security threats and regularly test their systems to ensure they are adequately protected.

8) Regulatory Compliance:

Fintech companies must comply with any regulations that apply to their industry. This may involve storing customer data securely, adhering to KYC (know-your-customer) requirements, or meeting other legal standards such as GDPR. Failing to do so can result in severe consequences.

9) Maintenance and Support:

Once a fintech app is launched, it must be regularly updated and maintained to ensure optimal performance. This includes performing regular system checks, fixing bugs, and updating the interface for improved usability. Businesses should also have customer support teams in place that can answer user questions or provide technical assistance.

By combining these elements, businesses can create a powerful and robust fintech app that meets the needs of their customers. However, developing such an app is no easy task and requires significant resources, time, and expertise.

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Factors that Affect the Fintech App Design Cost

Cost to develop a fintech app is greatly impacted by the complexity of its design. The fintech app development cost can vary depending on the type and number of features, payment gateway integrations, user logins and API integrations. It also depends on the platform you choose for fintech app development – iOS or Android.

When developing a fintech application, there are several factors that will impact the fintech app design cost such as:

1) User Interface Design

A great user interface design is essential for fintech users since it creates trust and encourages usage. The UI design should be easy to use, intuitive and secure. This includes visual elements such as buttons, fonts, colors, and more.

2) Features and functionalities

Fintech apps usually require features such as authentication, recurring payments, budgeting tools, real-time data updates, machine learning capabilities, etc. The fintech application design cost will depend on the complexity of these features.

3) Security

Security is paramount when developing fintech applications. This includes encryption protocols to safeguard user information and transactions from cyberattacks.

4) Payment Gateway Integration

Most fintech apps use third-party payment gateways for secure payment processing. These gateways charge additional fees for integration into fintech applications, which add to the overall fintech app development cost.

5) Testing

Quality assurance testing is essential to ensure fintech apps are secure and bug-free. This includes both manual and automated testing of the fintech application.

These factors will have an impact on fintech app design costs, but ultimately, the cost to build a fintech app depends on its complexity and features. Professional fintech development companies can provide you with accurate estimates for your project. They can also help you plan out the fintech app development process so that you get the best results for your budget. With the right expert assistance, you can minimize fintech app development costs while maximizing efficiency and success of your fintech solution.

How Much It Will Cost to Design a Fintech App in Gapsy?

Gapsy is a fintech development company that specializes in fintech app design. With experienced developers and a reliable platform, Gapsy can help you create fintech applications with ease. We offer custom fintech solutions tailored to your needs, making it cost-efficient to develop fintech apps on our platform.

Our fintech design costs are competitive and start at $10,000 for basic fintech apps. For complex fintech applications such as wealth management platforms or cryptocurrency exchanges, the cost to build a fintech app will be higher depending on the features required. We also provide comprehensive maintenance services for an additional fee, so your application remains secure and up-to-date. Here is the approximate price for developing a fintech app in Gapsy:

Type of AppRequired TimeCost
Banking app3200 hours45 per hour/ $144,000
Lending app2300 hours45 per hour/ $103,500
Insurance app2800 hours45 per hour/ $126,000
Investment app2500 hours45 per hour/ $112,500
Consumer app2600 hours45 per hour/ $117,000

The price may vary depending on the development case, for a more detailed estimate, please contact us. At Gapsy, we understand the importance of fintech applications and provide quality fintech app design services at an affordable price. If you are looking for a reliable fintech development company that can help you create fintech apps within your budget, Gapsy is your ideal partner. Contact us today to get started on your fintech application project.


The cost to build a fintech app can vary depending on the features, functionalities, and platform. It is important to work with experienced fintech developers to ensure your fintech application meets security and quality standards at an affordable rate. Gapsy offers competitive fintech development services that will help you design fintech apps within your budget. Contact us today for more information.

Thank you for reading! We hope this article helps you better understand how much it costs to develop fintech applications. If you have any questions or would like more information, please feel free to contact our team of experts at Gapsy. You can look at our services page to ensure our professionalism and also view our projects on Dribbble and Behance.

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