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Fintech solutions development
services
FINTECH SOLUTIONS DEVELOPMENT
uniting
100+
fintech experts
We are
#1
Fintech App Development
company according to
TopDevelopers
leveraging
8 years
of global Fintech Development Experience
Fintech is a new digital industry of the economy that includes apps, websites, and other tech solutions that modernize traditional financial services. Technological progress has given a great impact on the development of many areas of Fintech (financial technologies). This list includes mutual crediting, non-bank loans, deposits, accounting systems, personal finance, individual investments, crowdfunding, payments, financial advice, and cryptocurrency.
Fintech’s benefits include flexibility (immediate response to market changes and demands), innovations, and the ability to attract tech-savvy customers. Fintech services are used by those who prefer speed, convenience, and ease of use of the service. It moves the customer from traditional banks and plastic credit cards to a better user experience and digital payments.
DIGITAL FINTECH SOLUTIONS VS. TRADITIONAL BANKING
Digital solutions make conservative banks more innovative, move old banks from a monopoly on money transactions. It allows customers to make insurance contracts and transfer money within a couple of minutes.
They receive financing not from banks only, but from crowdfunding platforms, managing financial assets without human intervention. Also, with the help of artificial intelligence, it’s possible to estimate the paying capacity of individuals and save money in electronic wallets. And this is only one part of all possible Fintech options.
Fintech is about technologies used in industries connected with money, and it definitely changes our lives every day. Over the last 8 years, UppLabs mastered the latest Fintech technologies and gained experience in creating reliable, secure, and sophisticated Fintech solutions and products:
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Fintech web and mobile development
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Money transactions platform engineering
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Online trading and exchange platform engineering
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AI-based financial solutions
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P2P funding solutions
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Risk and scoring Fintech solutions
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Payment systems integration and optimization
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Existing products and services maintenance and modernization
THE MOST POPULAR FINTECH AREAS
Fintech is highly used in business. These businesses can be divided into such categories:
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Cryptocurrency and digital currencylike Bitcoins, Litecoins, Namecoins, NXT and PPCoins
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Blockchain technology
using a decentralized system
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RegTec (regulatory technology)
ensure fast and reliable compliance with legal regulations -
“Smart contracts”money & data exchange without the help of 3rd parties
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InsurTechtechnologies to streamline processes in the insurance industry
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Robo-advisingsoftware algorithms with investment tips
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Stock-trading appsbuying and selling stocks via mobile devices
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AI solutionsanalyze the performance and automate the processes
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Cybersecurity
protecting networks, systems, and programs from digital attacks.
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Mobile paymentsexchanging money and making payments via mobile
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Crowdfunding platformspool funding from different sources
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Open bankingsolutions and processes that allows banks to exchange financial information and services electronically
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Conversational interfacesany UI that copies real human conversations
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RPA (robotic process automation)
business process automation technology based on metaphorical software of robots (bots) or artificial intelligence
TOP-5 INDUSTRY TRENDS IN FINTECH DEVELOPMENT
As a software development company that works in Fintech, UppLabs can identify the main directions of institutional changes in financial systems that occur in fintech development:
1.
Сhanges in regulatory, legal support for the development of the financial sector;
2.
Best security practices, and the functioning of non-financial companies that provide financial services;
3.
Development of specialized infrastructure (hackathons, hubs, Internet platforms);
4.
Introduction of new business models and provision of financial services and functioning of financial institutions (sharing economy and business ecosystem);
5.
Decentralization of the financial services network;
6.
Extension of fintech to the sector of non-banking institutions (InsurTech).
The development of digital technologies makes it possible to remove the binding of the consumption of financial services to the location of their consumer. It helps to make complex financial products that are not rigidly tied to the distribution channel.
P2P FUNDING
P2P lending is a financial transaction between an investor and a borrower directly through an online platform. In this model, individuals can lend to other individuals or businesses without any financial institutions.
UppLabs P2P Funding Core that facilitates and speeds up the development of investment platforms offers:
Available loans: filters, listing, loan contracts available
Transactions /investments / contracts dashboards
Auto-invest functionality (investments based on the user’s preferred criteria)
Investments status and profit/loss stats
THE FINTECH REGULATIONS
When creating a P2P lending platform, it’s essential to comply with all government regulations. UppLabs will lead you through general Fintech regulatory and supervision practices:
- Regulatory sandboxes
- Special Fintech licensing
- Fintech cross-border provision
- Cybersecurity & Practices regarding AML/CFT
- Practices on specific Fintech products (e-money, P2P lending, crypto assets, virtual banking)
- Fintech enabling technologies (AI, biometric user identification, cloud-based services)
FINTECH INTEGRATIONS
UppLabs out-of-box integrations that allow to quickly launch the usage of the most necessary third-party services:
Anti-money laundering systems integration
API Gateways and developer portals
Verification and fraud prevention services integration: Ondato, Amazon Rekognition
External stats usage from the major credit bureaus: Equifax, Experian, and TransUnion
Marketing systems integration: Marketo, Omniture, Oracle Marketing etc.
RISK AND SCORING FINTECH SOLUTIONS
Online lending platforms connect borrowers and investors and allow them to fulfill money operations and loans. Some P2P lending sites also offer borrowers and investors to make their deals in interest rates and loan tenure. While developing such a platform, you need to consider all possible risks. UppLabs solutions to risk management include:
- Credit scoring for borrowers
- Scoring of the client identification
- Adaptive scoring algorithm
for various business needs
(treasury scoring,
corporate
scoring) - Device risks
evaluation and
user protection
through
data analysis - Automated
system of
making credit
decisions
GET THE MOST OF THE FINTECH WITH UPPLABS
With software engineers from UppLabs, you can launch a new web or mobile application for your business. We can help to rebuild your legacy system, get a sophisticated Fintech solution, or grow your engineering team with our developers.
Throughout the years and projects, our software development process was refined according to the needs of online banking, payment solutions, and KYC (know your customer) development. A dedicated team of UppLabs’ developers creates software for:
- Digital banking: Open banking and credit reference agencies integrations
- Payment systems integration and optimization
- Employee onboarding, vendor onboarding modules
- Money transactions platform engineering
- AI- and Machine Learning-based Fintech solutions
- 2D/3D Liveness detection
- Online trading and exchange platform engineering
- Fintech web and mobile development
- Video stream liveness detection
- Image recognition/document identification
Regardless of your location, Fintech regulations should be thoroughly examined. Because almost every Fintech solution and standards developed these days can go globally.
Also, you should be sure to partner with developers that are aware of financial software development standards and limitations.
UPD for 2022. UppLabs is #1 Fintech App Development company, according to TopDevelopers.
Let’s talk about your Fintech opportunities!
CASE STUDIES
Reviews
What do our clients say?
MIKE CHU
RECAP INVESTING
“UppLabs LLC supported frontend React development for a web-based app MVP. This involved consulting on technical design decisions. The team excelled at providing quality technical development throughout the timeline. They went above and beyond, providing valuable suggestions for product improvement. Their receptiveness to feedback and ability to adjust accordingly was a highlight.”
NEIL HOSEY
LEANWORKS
“Compared to the internal staff, the team is capable of delivering about twice the amount of features with the same level of quality. Working closely with their partner, they assist end users with the product on conference.”
LORI BARAO
MMI DIRECT
“UppLabs LLC excels at meeting deadlines and sticking to priorities. They’re genuinely interested and will make valuable suggestions beyond their specific project scope. As a team, UppLabs is responsive and consistently delivers quality work, on time.”
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