Fintech Software Development

What is Fintech (Financial Technology)?

Fintech is a financial technology company that provides innovative and disruptive solutions in the financial market. Fintechs offer digital services in the form of software, data analytics, and algorithms.

Fintech companies have been on the rise since the global economic recession in 2008. They have been growing at a rapid pace over the last few years with almost 7 out of 10 Fintech companies being established in just the last 5 years.

This is a survey of two key terms within fintech: startup and software development. Fintech startups are new entrants to an industry, taking advantage of new business models and technologies to offer innovative solutions to existing problems. These startups are expected to grow globally by 20% per annum through 2021, with an increase of $12.2 billion

Why you should build a Fintech product

The global the FinTech market was worth US$7,301.78 billion in 2021 and is projected to grow 26.87% a year by 2024

The global FinTech market is divided into different categories that include: technology, service, application and region. A few examples of technologies that come with this market are: API, AI and blockchain.

The FinTech market is on the rise and it’s not slowing down anytime soon. More people are embracing digital payments, more investments are being made into FinTech-focused solutions, and regulations are changing to favour FinTech. This means that the market will continue to grow in the coming years.

Full Report

How to Start a Fintech Company

Fintech startups are getting popular all over the world with a fast-expanding market for them. Fintech startups have been emerging in various countries from around the world with the goal of developing new financial technologies.

In order to start a fintech company, you should understand regulations in your country and what is required for a fintech startup. There are many steps that need to be taken when starting a fintech company so it can be helpful to have an action plan in place.

Fintech Software Development Steps


  • Defining and understanding the participants and roles in the product being created – in the development process and in the target solution
  • Defining and understanding the end user

Problem definition

  • Defining the problem that exists in the market for a given user profile
  • Frame your problem statement according to specific users


  • User story mapping. Defining the Product Backlog (scope of work) with the help of User Stories describing the processes
  • Sketches (low fidelity) presenting the user flow in the application
  • Definition of processes interacting with other modules

Building prototypes

  • High fidelity wireframes visualizing the graphical interface
  • Extending mockups with a clickable prototype
  • Database structure. Database model describing table and field structure

UI/UX Product Design

The key is to select the most important problems whose solution will significantly change the life of the target user. Thanks to such an approach, already at the stage of Discovery and Design, it will be possible to build a successful product on the market much faster. It is always worth asking yourself the question “what value does the feature give to our user? Is it worth the investment?”

Software building – Development stage

Currently, most solutions are designed in the mobile-first model, while assuming that the main device through which users will use the application will be a phone. Technologies available on the market nowadays enable very fast creation of cross-platform solutions, thanks to that while creating a mobile application we can prepare it to work on Android and iOS devices. If our MedTech solution will be used also on a computer, in a browser, it is worth considering creating a Progressive Web App (PWA).
Whether we build a mobile app or a web app, in order to use the server connection, we need to build a server app that is responsible for processing data and communicating with the other services.
Frontend application is simply what we see on our computer or phone screens - graphical interface. One of the parts of building software is to create front-end layer, which in communication with server application (backend) will display data to user and will allow to interact with whole system.

Our Fintech Software Development Services

Trading Platforms

Automated trading solutions are designed for brokers, traders, asset managers, and various financial institutions as well as any other customer who trades on a regular basis.

These platforms are fully automated with no human intervention required whatsoever. They analyze information for all stocks available on public exchanges and then automatically trade based on their analysis.

The main advantage of these programs is that they do not require high-speed connections to work effectively. They can be used just about anywhere in the world with an internet connection.

Internet of Things in FinTech

The Internet of Things (IoT) is rapidly evolving and has expanded into various industries, including the financial industry. Artificial intelligence-enabled devices are one of the most common ways to connect to the IoT.

The Internet of Things (IoT) is a network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and network connectivity that enables these objects to collect and exchange data. IoT solutions are becoming increasingly popular in the FinTech industry for various reasons.

Blockchain Solutions

Blockchain technology has been around for a few years now, but it is only recently that people have learned to harness its power. Blockchain solutions can be applied in various industries, from finance to healthcare.

Blockchain solutions are the way of the future. They provide a secure and transparent way of recording information and transactions across a range of sectors. From finance to engineering, blockchain solutions are being developed for a number of different needs.

Banking Integrations

Banking APIs are an important part of the banking ecosystem. With these APIs, fintechs can connect with banks for data and use it in their own applications. Banking integrations are necessary for fintechs to grow.

The integration of finance and technology has been a huge boon for different aspects of the banking sector. The ROI of banks has been improved tremendously as a result. Now, more and more banks are adopting the latest fintech trends to offer better customer service and make their operations easie

Start working on your Fintech App right away!

    Need NDA first? E-mail us at info@gmihub.comGMI needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at anytime. For information on how tu unsubscribe, as well our privacy practices and commitment to protecting your privacy, check out our Privacy Policy.

    They recommend us


    From the beginning, GMI was able to anticipate possible risks and interruptions. The design environment was adapted to our working mode and was simple enough for the product owner to meet his requirements and those of the development team.

    Thanks to the great attention to the quality of the code, the project was delivered on time and there were no internal complications associated with the product development. However, there were external complications (service providers), which GMI helped to solve with us.

    See Case Study

    Coders Lab

    With the greatest pleasure and full responsibility, we recommend GMI as a professional contractor for web applications and CMS systems. We chose GMI primarily because they approached our inquiry very professionally. Very fluent contact at an early stage of talks announced that the implementation would be equally efficient and it actually was.

    If there is an opportunity in the future to jointly implement another project, we will definitely use the services of GMI again.

    See Case Study

    Q2 Smart Lockers

    I have worked with the GMI Group on many projects over the last 4 years. I have always been satisfied with the quality of the commissioned works, which were made by Mikołaj Lehman and his entire programming team.

    GMI has unique skills to translate ideas into reality. They are very efficient, discreet and, above all, trustworthy.

    See Case Study

    List of tools that we use for fintech software development

    Technologies we use