How much does it cost to develop a FinTech application?

FinTech application

FinTech mobile app development has become the most successful trend in the past few years.

If you wondering how much it costs to develop a FinTech app. This blog is for you.

As per the report, 38% share of U.S. personal loans are granted by Fintech. In 2021 there were 8,775 fintech start-ups in America.  The global Fintech market was worth $130.66 billion in 2021.

Moreover, it is expected to reach $309.98 billion at a CAGR of 24.8% by 2022.

Surprised by the data!!

The digital finance industry is rapidly expanding. It’s convenient fast, secure and reliable. This is why Fintech apps are quite popular.

Fintech apps are diverse. There are apps for stock trading, digital banking, crypto trading, and many more. The advanced AI technology operating in the fintech industry brings tremendous growth in the finance sector.

So, the cost of a fintech app depends on the app to app. This blog will help you in identifying the factors that directly affect the cost of the development of the Fintech app.

Read further to know more.

What are Fintech apps?

Fintech is simply referred to as financial technology. These apps provide financial services to customers with the help of software solutions.

Many fintech mobile app development services offer various solutions like internet banking, money transactions, trading services, and many more.

In addition, the Fintech app has changed the working of several industries. And bring business growth opportunities for many companies.

Let’s look at the types of fintech apps mentioned below.

  • Banking Apps

All the banking solutions are available online with the help of banking apps. Now, customers don’t have to visit a bank branch for every query.

Moreover, whether you want to open an account or you want to take a loan everything is available in the banking app.

  • Investment Apps

This app allows users to invest in different platforms. Investment solutions include crypto currency trading, stock, mutual funds, and many more.

If you want to build a successful investment app. Fintech mobile app development company help you in building investment app.

  • Lending Apps

The lending app allows users to borrow money from any bank in the country. If users lend money from a credible source the chances of fraud are less.

Plus, it provides the user to borrow money without any hectic process.

  • Personal Finance Apps

As the name refers the personal finance app enables a user to manage their finances.

Moreover, user can track their income, and expenses, and can set a budget with the help of this app. Also, it records all the financial transactions.

  • Insurance Apps

Many companies provide services of insurance with the help of insurance apps. They are helpful for the user to easily cope with the insurance policies.

Lastly, these are types of fintech apps. In the next section, we will discuss the factors that affect the cost.

How much does it cost to develop a Fintech application?

Fintech app development cost depends on various factors. It depends on the features and roles which you are including in your fintech app. There is no fixed price for building a fintech app for the business.

However, when companies hire a fintech app developer they expect more than that. Budgeting the app will require a deep understanding of app features and their purpose.

Here, are couples of factors that help you in estimating the cost of Fintech application development.

  1. Types of fintech app

As in the above section you came across some types of fintech apps.

Hence, to create a basic app that provides a transparent, safe, and convenient way to transfer online payment. It will cost you around $40,0000 and the minimum time it would take is 3-4 months.

However, it will cost you around $50,000 to $80,000  to build a high-tech solution app with more functions and facilities.


Basic fintech app



$30,000 and $50,000



Average fintech app

$50,000 and $80,000

Complex fintech app



$80,000 and more


These are rough estimates of the budget. Several aspects directly affect the cost like APIs, Development team, developer rate, and more.

  1. Types of team

The chosen team directly affects the price of the development of an app. The advanced banking app development cost also depends on the team size.

In addition, the money spent by the mobile app developers on resources will affect the total cost of the development.

Let’s look at the below table.


Type of team

Development cost

In-house team


Local agency




Outsourcing Company



Furthermore, these are the average banking app development cost. The cost of development varies from location to location read further to know more.

  1. Cost based on location

The local agency based in the USA will cost you more than the other countries. Here are the prices of different regions based on different types of apps.


Type of app



Central Europe


Western Europe


North America


Banking app






Lending app






Insurance app






Moreover, the cost of app developers in the US is high compared to other European countries. In European countries, the cost is affordable for fintech app development even for a startup.

  1. Timeline

Time is money. We all heard it right.

Time will highly affect the cost of developing an application. Rapid prototyping will require more team involvement.

All you have to do is hire dedicated developers. So that they can deliver your project within the timeline that eventually saves you money and time.

  1. Maintenance cost

Lastly, to maintain your fintech app. You must maintain it from time to time so that it will help you in maintain the security of the app.

Moreover, maintenance for fintech apps is essential for long run. And they are more prone to hacking and bugs.

Wrapping up

Banking app development is not an easy task to do. Therefore, it’s hard to determine the exact cost of a fintech app.

In this blog, we have discussed that there are lots of factors that affect the cost development of a fintech app. You can hire an expert fintech app development company which can save you a lot of time and money.

Author Bio- Jermaine Trotman is the co-founder of Nimble AppGenie, a market leading,  FinTech App development company but not limited to that. Firm is renowned for it’s eWallet, loan lending, and fintech app development solutions.