And there have ever been times like this? Fintech is based on providing services thanks to technological solutions, i.e. software. Fintech software development is proving worthwhile when it comes to making transactions online, making purchases online, banking, etc. Putting it in simple words, digital transactions have now become a go-to alternative for a majority of customers. Furthermore, via solutions such as machine learning, Fintech software development is creating new revenue channels, offering an extraordinary user experience, rendering the processes more seamless and efficient, and making businesses risk-free. Customers and businesses are reaping the perks of fintech innovations alike.
As per the stats, the global fintech market value is anticipated to reach a market value of a whopping $324 billion by 2026, and in 2021 VC investment in the fintech sector globally was around $91.5 billion which indeed made a record as it was more than the double of 2020 fintech investment. So, worldwide finance leaders are endorsing the idea of investing in this domain since they believe it can reform and revolutionize the industry.
Benefits of fintech software development
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Security
Financial institutions and conventional banks find the task of protecting business and user data pretty challenging. Several enterprises are rendering huge investments to eliminate the financial losses and vulnerabilities in fintech software development triggered by cyber-attacks. Besides delivering convenient financial transactions, it also provides security to valuable data. This streamlines the path and cash flows, and business operations. Future-oriented organizations must embrace fintech software development services for profound understanding, removing the potential threats, and traffic monitoring.
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Cost-savings
Fintech software development tremendously reduces servicing charges while giving better outcomes. For beginners, it depends less on man’s intervention by automating the financial processes. Furthermore, fintech software companies do not need to make huge investments in outmoded business operations like call centres to handle customer needs. This is due to the fact that these enterprises already enjoy access to intuitive consumer data via fintech software development. Whenever an issue emerges, it is highly possible that they are acquainted with them beforehand and already get to work to resolve them. Compared to financial services and conventional banks, tech-driven financial companies implement cutting-edge tools to streamline the regular state of affairs and thereby, they spend nominal or zero regulation charges.
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Mobile Apps
One of the most notable features of fintech software development is digital payments. It facilitates convenient and efficient transactions, which further promise maximum transparency, better user experience, and access to information.
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Blockchain
The fintech software development market is mostly made up of cryptocurrencies, and countless startups are setting up their businesses around one of the worthwhile blockchain-powered cryptocurrencies, which is Bitcoin. Modern customers demand absolute control over their finances, and the adoption of blockchain by financial institutions promises them the same, thanks to decentralization. The dream of having decentralized setups that deliver smooth functionality without any fee and minimal government intervention has been realized with blockchain.
Software development for fintech – why choose BOS?
BOS brings to the table years of practice, knowledge, and experience in fintech software development solutions. Apart from that, fintech also delivers high-level cybersecurity. The team of experts working in the enterprise have robust skills in QA engineering as well as UX design.
The company specializes in fintech software development. BOS – the Banking Operation System is a fully scalable and modern transaction system that relies on microservices. BOS enables fast execution and integration of the system with external systems.
The in-built components of integration allow you to implement BOS easily and effectively and incorporate it with your financial organization. That lets you deploy the mature product and launch it onto the market soon. Furthermore, BOS supports the company by providing instant responses to the fluctuating market and customer expectations. The system structure will enable smooth modification of its separate components to promise effective working of your product. In addition to this, the data supplied from the systems integrated into your business and other processes would be easier to manage for your organization.
The top and stand-out features of BOS that promise business growth are:
- Microservices architecture
- Event manager
- Cloud-native
- Open API
- Multi-branding/ muti-institutionality
- Unique business functionalities
- Integrated general ledger
Fintech software development company – professional services
So, once you have decided to go with BOS for fintech solutions for your company, you can choose a suitable implementation model. Silver, Gold, and Platinum come with different features and benefits. BOS integration in the company furnishes it with extensive functionalities that are exclusively designed for modern business operations that help the businesses to reach the next level.
So, are you ready to transform your idea into a masterpiece with BOS software for fintech services? Explore different finance software development solutions we offer: Banking software development, Accounting Software development, and more. We provide top-notch fintech software development services that align with the dynamic financial ambience and make you a numero uno in the marketplace.