FinTech Application Development Software That Turned From Rags to Riches
Digitization and globalization have been the driving force of the FinTech sector, along with the neo-bank and digital banking systems. India is known to have the highest FinTech adoption rate globally and is also amongst the fastest-growing FinTech markets in the world. Currently, there are 6,636 Fintech startups in India, and we estimate this industry’s market size will reach $150 billion by 2025. A FinTech startup begins to leverage cutting-edge technologies, such as artificial intelligence, machine learning, IoT, and many more, to provide a banking system within a short period. The same has benefitted a lot of users in saving valuable time.
According to Invest India, the transaction value size of FinTech is set to grow to $138 billion in 2023 at a CAGR of 20%. The fintech industry comprises a wide range of sub-segments, including lending, payments, wealth, insurance, etc. However, the shortcoming of this booming industry is that only a handful of software development companies focus exclusively on Fintech application development products. Moreover, Fintech start-ups cannot be mistaken for having the exact needs of normal software development; they are incredibly different.
Let’s take a look at 5 of the best software development companies that focus exclusively on the Fintech niche:
Focused on making banking more straightforward, innovative, and safer by simplifying finance with technology, Niyo is a fintech startup based in Bengaluru. It offers customers digital banking solutions like prepaid payroll cards, cross-border travel payment debit cards, and multi-wallet tax benefit cards. Present in more than 30 cities across India, Niyo has an employee strength of over 1000 across different cities
Highen FinTech Labs
- Highen is a new-age FinTech application development endeavor based in California, and they have rendered impeccable FinTech product development services to a wide range of clientele. Highen’s FinTech application development solutions help systems make the right lending decisions owing to their artificial intelligence-enabled lending platforms defining the future of lending. They offer FinTech application development services, including billing and payment solutions that are highly secure to trade, and e-wallets rendered to clients with thorough research and proper testing.
From lending to blockchain-based FinTech, Highen offers next-gen app development services with proper compliance with blockchain platform protocols.
OFB Tech (Of Business) is a tech-enabled platform that facilitates raw material procurement and credit for SMEs, focusing on the manufacturing and Infrastructure sectors. OFB integrates technology into SMEs’ buying behavior to offer customers better products at affordable prices with comprehensive online and offline support. The Company also offers various tech services for SMEs, including Bid assist, for growth opportunities.
Optiver is a proprietary trading firm and market maker for several exchange-listed financial instruments. Its name comes from the Dutch Optiver, “options trader.” Optiver trades listed derivatives, cash equities, exchange-traded funds, bonds, and foreign exchange and is privately owned.
- Paydiant, Inc. is a PayPal-owned financial services company based in Auburndale, Massachusetts, incorporated in 2010. Paydiant provides cloud-based services for merchants, banks, point-of-sale, and ATM providers.
Paydiant renders FinTech application development services like a white-label mobile wallet platform that consists of mobile payments, loyalty, offers, ATM cash access, and related commerce services. The patented cloud-based platform enables merchants and banks to deploy their own secure mobile wallet solutions under their brands within their apps.