The Top 10 FinTech Software Development Companies in 2023: A 101 Guide

  • Ashok Kumar Singh CEO

  • Web Development


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The demand for FinTech applications has been increasing over the years.  In recent times, FinTech software development is not simply about banks and financial institutions. It is also hugely used in other sectors like retail banking, education, non-profitable firms, and the likes. As a matter of fact, it was seen that the global FinTech market achieved a value of approximately USD 194.1 billion in 2022. It is also predicted to grow at a CAGR of 16.8%in 2023-2038 to reach USD 492.81 billion by 2028. Again, according to Deloitte, the FinTech industry is worth $180 billion approximately. Mind-blowing, isn’t it? With 2023 well underway, the time has arrived to shed light on the top 10 FinTech software development services in India that are leading the change in this dynamic landscape. All of these eminent companies have proved their mettle through their extraordinary expertise, spectacular solutions, and unwavering dedication to deliver transformative financial experiences. Whether you’re a start-up founder or a reputed firm, going through these revolutionary companies can help you generate a boatload of revenues in 2023. Let’s dive in and find an exceptional development partner for you! But, before you go that deep, let’s see what we will discuss in today’s comprehensive post –

Table of Contents

FinTech Software Development Company: A Quick Overview

Reputed FinTech software development companies are recognised for offering enterprise software development to various FinTech companies for smooth growth. And, with a majority of companies considering unravelling their domain in this vertical, they require assistance from FinTech software developers. These professionals stay ready to create something exceptional which can benefit their companies in countless ways.

FinTech software offers exceptional services like money transfer, crowd funding, processing of payments, and the likes to make the day-to-day financial transactions of their clients relatively easy.

A large number of tech forerunners around the world have already begun making use of these technologies to gain maximum benefits out of them.

Certain essential responsibilities of developers in a FinTech software development company include but are not limited to –

  • Developing and maintaining FinTech sites and applications which are safe, effective and easy to use.
  • Testing and removing bugs from the user interface
  • Facilitating communications with clients to comprehend their requirements and work efficiently on their feedback
  • Taking note of and making last moment-changes for the client

To put it simply, FinTech development is all ready to be indispensable in making far-reaching changes in the upcoming years of modern-day financial transactions. And, eminent custom FinTech application development services can help your organisation generate exorbitant revenues effectively.

 

How This Top List Was Curated?

To choose the best FinTech software development companies around the world, we have evaluated their websites, skimmed pages on ranking portals, scoured through reviews and testimonials, and looked diligently at their portfolio.

Finally, we have listed companies here that have –

  • Proven experience and expertise in at least one kind of FinTech software
  • Assimilated at least a couple of positive client reviews (on Clutch and other platforms) and have praiseworthy testimonials
  • Proved their serious approach to cybersecurity( in prior projects or by sharing their in-depth knowledge)
  • Proved their expertise in custom FinTech application developments
  • Excellent skills required to deliver premium FinTech solutions

Exploring the Top 10 FinTech Software Development Companies in India in 2023-

TatvaSoft

This is a worldly-acclaimed custom mobile app development company in India and holds a strong footprint in the US, UK, Canada, and Australia. Lavasoft is a certified Microsoft Gold Partner and CMMi Level 3 certified holder providing exceptional services on various tech platforms.

 

With 21+ years of experience in the field, this reputed company provides cost-effective solutions of remarkable standards. Till date, it has completed more than 1800 projects with 810+ global customers and served clients of 36 countries.

As a FinTech company, their financial software development professionals offer the most in-demand skills in web, data science, mobile engineering, machine learning, AI, etc. Their development team comprises developers and designers with a strong passion for architecture and designing software solutions that cater to the evolving requirements of the financial technology space. Furthermore, with its global exposure and a wide array of expertise, TatvaSoft stands to be one of the most renowned financial software development companies in the world.

  • Date of Establishment – 2001
  • Minimum Project Size – $10,000+
  • Average Hourly Rate – <$25/hr
  • Development Services – Custom software development, web development, mobile app development, product development, Testing &QA
  • Number of Employees – 1000+
  • Location – TatvaSoft House, Rajpath Club Road, Ahmedabad, Gujarat, 380054
  • Clutch Review – 4.9/5

First Rite IT Services Private Limited

First Rite IT Services is a recognised company specialising in a diverse range of IT services, including software development, cloud solutions, web design, and digital marketing. With a team of more than 150 highly skilled experts, it has established a strong presence in top countries like India, the US, the UK, Australia, and New Zealand. This exceptional company understands that the most impressive website and app experiences are rooted in smart design and backed by the right technology. And this motto has led them to aid countless businesses across different industries to achieve their goals and stay apart from the competition.

 

With an emphasis on using cutting-edge technology to drive business success, First Rite IT Services ensure to deliver innovative solutions, offer customer satisfaction, maintain data security and privacy, enable scalability and growth. Whether you are looking to hire FinTech software developers or need assistance with digital marketing, First Rite IT Services possess the experience and expertise to deliver remarkable customized solutions to meet all your needs.

 

  • Date of Establishment – 2013
  • Minimum Project Size – $5000
  • Average Hourly Rate – $20+
  • Development Services –Website Design and Development, Web Application Development, E-commerce Solutions, Mobile App Development, MVP Development, Digital Marketing, Start-up Consulting, SAAS Application Development
  • Number of Employees – 150-200
  • Location – PS Srijan Corporate Park, 13th floor, Suite 1302, GP Block, Sector V, Kolkata, West Bengal 700091

Your Team in India

Popularly recognized as YTII, this reputed FinTech web apps company is the epitome of offshore IT services for SMBs and start-ups around the world. With 150+ dedicated offshore developers, they are known to use state-of-the-art technologies that empower financial operations fulfilling specific business objectives effectively. Their unsurpassed experience in FinTech software development makes them the perfect choice for businesses of any industry, irrespective of their size and nature.

 

Moreover, their result-driven, cost-effective, and proactive services make them one of the best companies in India, the US, Canada, New Zealand, and Australia.

  • Date of Establishment – 2009
  • Minimum Project Size – $10,000+
  • Average Hourly Rate – $25/hr
  • Development Services – Offshore Development Services, FinTech Web Apps Development, Cross-Platform App Development, MVP Development. Product Enhancement Service, PWA, Technology Migration
  • Number of Employees – 200+
  • Location – Bestech Business Tower, A-413, 4th Floor, Tower A, Sector-66, Mohali Punjab 160066, IN
  • Good Firms Rating – 5.0

 

Clarion Technologies

With a world-classed and dedicated global team of virtual employees, this game-changer FinTech software development company offers small and medium businesses exceptional IT services. With the unmatched support of its skilled developers, they have completed projects for more than 1100 SMB clients over 22+ years.

Equipped with profound knowledge of AI, machine learning, and big data, their outstanding financial software developers can enhance and automate financial procedures with relative ease. Furthermore, their professionals also collaborate with other departments of a firm to know more about its needs so that their designed platform or software is a great fit.

  • Date of Establishment – 2000
  • Minimum Project Size – $5000+
  • Average Hourly Rate – $25-$49/hr
  • Development Services – Web Development, Application Development, Content Management Systems, Application Maintenance, Mobility, E-commerce, Offshore Product Development, Rich Internet Applications, Cloud Strategy & Development, Software Testing Services, Agile Project Management
  • Number of Employees – 100-150
  • Location – 4th Floor, Tower S4, Cybercity, Magarpatta, Pune 411028, Maharashtra, India
  • Clutch Rating – 2/5

 

Kellton Tech Solutions

If you are looking for a leading FinTech software development company in India that can bring an end to all your concerns, Kellton Tech Solutions will be the perfect choice. With its offices in USA and Europe, too, this company offers remarkable state-of-the-art technology and revolutionised digital solutions to businesses across different industries.

It is known for offering agile software development, e-commerce development, and technology consulting, modernising existing platforms, and automation and testing services. Kellton Tech is also an immensely trustworthy banking and financial software development company. In fact, it has achieved a brand mark in India as one of the top cloud-based FinTech software solutions provider.

  • Date of Establishment –2010
  • Minimum Project Size –$50,000+
  • Average Hourly Rate – $25-$29/hr
  • Development Services – Product strategy and consulting , Product Design, Product Management, Technology Consulting, E-Commerce Development, Cloud Managed Services
  • Number of Employees – 9999+
  • Location –Kellton Ltd, Lalwani House, Sakore Nagar, Viman Nagar, Pune, Maharashtra 411014
  • Clutch Rating – 8/5

Hyperlink Infosystems

With more than 10 years of experience in information and technology, this highly distinguished mobile app development company is headquartered in Ahmedabad, India. It also holds a strong position in the US, UK, France, Canada, UAE and Australia. Their team includes 700+ highly skilled developers who have deployed 4000+ apps with brilliant technology and ideas.

These highly skilled developers work on the latest technologies like AI, IoT, Blockchain, AR/VR, Metaverse, etc. What’s more, they have designed 2000+ websites and 400+ projects on updated technologies, including Salesforce, AI, IoT, AR/VR, Data Science, and the likes. Hence, it doesn’t come as a surprise that the company received more than a 97% client retention rate.

  • Date of Establishment – 2011
  • Minimum Project Size -$25,000+
  • Average Hourly Rate – $25-$49/hr
  • Development Services – Blockchain solutions, Blockchain FinTech App Development, Android App Development, iPhone App Development, Website Development, Wearable App Development, Metaverse Development, Game Development, and Custom Software Development.
  • Number of Employees – 1000+
  • Location – C-106/B, Ganesh Meridian, Opp. Gujarat High Court, Ahmedabad, Gujarat -380061
  • Clutch Rating – 9/5

 

The Nine Hertz

The Nine Heartz is an impeccable fast-growing IT consulting and FinTech software development company that effectively deliver products and views into mobile space of supreme quality. This eminent company is headquartered in India with offices in the US, UK, Dubai, and Australia.

With 575+ highly experienced and dedicated developers, they aid clients in determining the risks and opportunities that effectively address short-term challenges along with long-term value creation. To date, they have delivered more than 1000 mobile apps, web apps, and games worldwide within both cross and native platforms. Among them, a few are award-winning apps that were also listed as the best 10 downloaded apps on both Apple and Google Store.

  • Date of Establishment – 2008
  • Minimum Project Size – $5000+
  • Average Hourly Rate – <$25/hr
  • Development Services – Custom software development, Mobile app development, Custom Game Development, Salesforce Development, Web Development, Mobile Game Development, Desktop Game Development, Xamarin App Development, Wearable Devices App Development, Enterprise App Development
  • Number of Employees – 500+
  • Location – 3/1 Chitrakoot Scheme, Sector -3, Vaishali Nagar, Jaipur, Rajasthan - 302021
  • Clutch Rating – 8/5

Appinventiv

Appinventiv is one of the top product development companies in India with expertise in developing premium digital solutions that brings change and transforms experiences. Equipped with a brilliant team of 1100+ skilled techies, the company serves thousands of clients across the US, Europe and ME regions.

In their experience of 9+ years, they have drastically changed digital experiences for more than 1000 start-ups and countless Fortune 500 companies. Additionally, they have raised $800 million in funding for start-ups and received ‘App Development Company of the Year’ along with numerous awards from prestigious organiations like CIO Review and Entrepreneur.

  • Date of Establishment – 2014
  • Minimum Project Size – $50,000+
  • Average Hourly Rate – $25-$49/hr
  • Development Services – Mobile App Development, Ideation and Product Design, Software Development, Digital Transformation, Cloud and DevOps, Blockchain, Data Science & Analytics
  • Number of Employees – 1000+
  • Location – B 25, Sector 58, Noida -201301, Delhi-NCR, India
  • Clutch Rating – 7/5

SparxIT

This eminent FinTech blockchain software development company is an ISO 9001:2008 digital solutions provider accredited by NASSCOM. Founded in 2007, they have gained various prestigious recognitions for their supreme quality services in the IT-software industry.

Their adept team of experts have years of experience and expertise in offering a wide array of unique IT solutions on different incredible technologies like WordPress, PHP, Blockchain, Artificial Intelligence, Drupal, Magento, AR/VR, ReactJS, etc. They have successfully catered to top brands, start-ups, and Fortune 500 companies with integrity and provided them with scalable custom digital solutions.

  • Date of Establishment – 2007
  • Minimum Project Size – $10,000+
  • Average Hourly Rate – $25-$49/hr
  • Development Services – Web and Mobile App Development, Blockchain Development Services, Cloud Integration Services, Outcome-Driven e-commerce Development, Artificial Intelligence Development, NFT Marketplace Development, SaaS Development, Web 3.0 Development, VR Development, FinTech Development
  • Number of Employees – 250-999
  • Location – H-21, First Floor, Sector-63, Noida, Uttar Pradesh 201301
  • Clutch Rating – 8/5

 

Hidden Brains InfoTech

 Hidden Brains InfoTech is a hugely acclaimed, award-winning IT consulting and enterprise software development company whose main focus lies in digital transformation. Launched in 2023, they have a decade of experience in navigating clients through digital transformation.

With an Agile-enabled team of innovators and technologists, it outshines its competitors with its futuristic software product development services. They are hugely dedicated to aiding companies gain success in the rapidly evolving market of the recent era by providing them with solutions that generates measurable outcomes. Headquartered in India, with offices in the UK, USA, Norway, and Africa, they ensure to offer clients an optimal level of control over the project, transparency and flexibility.

  • Date of Establishment – 2003
  • Minimum Project Size – $25,000
  • Average Hourly Rate – $25-$49/hr
  • Development Services – Web Application Development, Mobile Application Development, UX/UX Design Services, FinTech Software Development, UX/UI Design Services, Product Prototyping, Front End Development, Cloud and DevOps, Microsoft Development
  • Number of Employees – 700+
  • Location – 301, Sachet-4, Nr.Prematirth Derasar, Sattelite, Ahmedabad -380015, Gujarat
  • Clutch Rating – 8/5

Final Thoughts

Choosing the perfect FinTech software development company can greatly influence your project. It’s not only about selecting a technically enabled firm but also about finding the right partner who shares your vision, knows how to communicate and can work together in the long run.

With this comprehensive list, you can rest assured find a remarkable FinTech software development company in India who can successfully fulfil all your business needs. Go through each one of them carefully, evaluate their features, and analyse the best match for your requirements. Now is the perfect time to kick-start your FinTech development journey. Get Started!

 

Frequently Asked Questions

A FinTech software development company is a firm that specialises in developing software for the financial services industry. FinTech companies use cutting-edge technologies like artificial intelligence, blockchain, and cloud computing to make financial transactions and processes faster, more convenient and more secure.

FinTech can encompass diverse areas like online banking, cryptocurrency, mobile payments, peer-to-peer lending, financial analysis and planning, etc.

Innumerable FinTech software development service providers exist that offer a spectacular array of choices. Though a majority of solution providers carry outstanding claims in their kitty, the question arises – whom to choose?  Here are certain parameters to pay attention to if desire to choose the right FinTech software development company in India –

  • Assess the team’s technical expertise in developing financial software
  • Evaluate the team size and their years of experience
  • See if they have skilled developers who have knowledge of different programming languages like Java, Python, C++, C#, PHP, JavaScript and Ruby
  • Understand if they have access to technologies like Machine Learning, AI and Big Data
  • Evaluate the company’s track record of success
  • Understand their ability to meet project deadlines and budget
  • Analyse the company’s security and compliance practices

There are countless factors to consider when developing a FinTech solution, but some of the most important incorporate –

  • The needs of the target customer
  • The right technology for your solution
  • Giving importance to security
  • Compliance of the solution with all applicable laws and regulations
  • Scalability to meet the needs of a growing customer base
  • Cost of development, testing, deployment and ongoing maintenance
  • Competitive landscape and the overall market for your FinTech solution

Certain remarkable examples of FinTech software solutions are –

  • Payment processing systems
  • Mobile banking apps
  • Automated Investment platforms
  • Blockchain Technology
  • Digital Wallets

The major FinTech trends of 2023 includes –

  • Embedded finance in non-financial platforms
  • Further development in AI and machine learning applications for personalized financial services and assessment of risks
  • Rise of decentralized finance (DeFi)

FinTech software development companies in India offer a diverse range of services like –

  • Custom software development
  • Consulting services
  • Testing and QA
  • Development of banking software and applications
  • Mobile banking and payment solutions
  • Trading and investment platforms
  • Risk management and compliance solutions
  • Blockchain FinTech app development
  • Regulatory Technology (RegTech) Solutions

A FinTech software developer concentrates on developing different software solutions for financial institutions like banks or insurance companies, FinTech start-ups, as well as financial solutions for corporations. He/she should be able to communicate remarkably with the design team. A developer should also know the business sides of projects remarkably, have strong cybersecurity-related skills and know effective ways to enhance the performance of an app.

The sector of FinTech is growing at a drastically rapid pace with countless financial software developers making their presence felt. In the recent times, it is a multi-billion dollar industry which is expected to reach USD 93.51 billion by 2030, at a CAGR of 26.2% from 2022 to 2030.

Most financial institutions are swiftly gravitating towards virtual financial services. So, it can be safe to say that the future of FinTech is strong not only in India but around the world. It won’t be long until the FinTech industry has entirely taken the place of our traditional financial systems.

The top 10 FinTech companies in India are –

  • Pat
  • Lendingkart
  • MoneyTap
  • Instamojo
  • Razorpay
  • Pine Labs
  • Zest Money
  • Policy Bazaar
  • InCred
  • NeoGrowth Credit



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