How much would it cost to develop a fintech platform like Revolut?

In July 2015, Revolut was officially launched. By the end of 2022, the app had more than 10 million users.

According to Ernst and Young, 64% of global users have used more than one fintech platform worldwide and 96% of consumers are aware of at least one fintech platform as of 2019.

If you want to manage your entire financial life through a single app, Revolut is your solution. From spending and planning to exchanges and stocks, Revolut has it all for the tech-savvy customer looking for a personalized finance management tool. It's specifically targeted toward users interested in exploring new and interesting financial opportunities. The ever-changing financial world merits a money management tool which is similarly dynamic, and Revolut gets the job done. It adjusts to your requirements, gives you complete control, and continually drives you into new, energizing spaces.

About Revolut

Revolut offers a scope of computerized banking services in a versatile application, including:

  • Moving cash abroad in 29 monetary forms
  • Prepaid debit transactions supported in 120 countries
  • Vaults for planning and setting aside cash

Want to create a fintech app?

As the fintech platform grows in the app market, several key developers are providing unique platforms with unique features. The primary means of differentiation is, of course, the quality of their portfolio and the efficiency of their development process. Being a trusted financial app development company, Let's Nurture offers best-in-class mobile money transfer and financial management systems with cutting-edge payment integration technology. We are a highly experienced team of app developers, UI/UX designers, project managers, and business analysts who have experience in developing and handling numerous custom apps for clients.

The net cost for developing your own fintech app would be in the range of CAD 30000 to CAD 40000, which we’ll break down below.

Basic Features for Fintech Platforms

1. Money Transfer: Manage all money transfers via the app. All you have to do is add your card to the app and make the payment using your pin.
2. Currency Exchange: travelling or making purchases. This feature will also provide a status notification on currency changes, helping you resolve currency exchange problems.
3. Payment status alerts: You will be notified of any payment or transaction made. The app will also keep track of the specific progress of any payment or transaction and alert the user accordingly.
4. Track your payment: Track your payment, get notified of your payment status, and keep a history of every transaction made. Be it bill payment or money transfer; you will have it all in one place.
5. Split bills: Split your bills with your roommates, friends, or co-workers. This feature splits the entire bill among all the participants in the group, keeping track of all the payments made.
6. Remainder for bill payments: Receive a reminder for bill payments via the app. A particularly useful feature for time-sensitive billing, allowing you to think less about what you have to pay that month.
7. Low funds warning and interest in saving: Get a notification regarding accounts with low funds in-app, and default to refill the amount set. Make the most out of your planning and saving. Earning program for added customer engagement is featured in-app.
8. Budget Analytics: Analyze your budget growth for each month, how much you saved and the return on your investments. A graph will show your budget and savings, and from here you can keep track of your yearly, monthly, and weekly spending, as well as check your financial forecast.
9. Stock Information and crypto stats: Buy, sell, and hold cryptocurrencies with a single tap. Get instant information about stocks, bitcoins, and more.
10. Trending perks: Explore local hotspots, places of interest, and relevant investment opportunities. Connect with your financial world seamlessly.
Add On Features Monthly expenditure planning
Integration of other fintech apps
Advanced analytics to track revenue

Development Team Needed to Build a Fintech Platform

Let’s Nurture is comprised of many talented app developers who are experts in their field. A basic team composed of these developers would look something like this:

  • 1-2 UI/UX Designer
  • 2 iPhone Developers
  • 2 Android Developers
  • 3 Web Developers
  • 1 IoT Developer
  • 1 Machine Learning Developer
  • 1 Business Analyst
  • 1 Quality Analyst
  • 1 Project Manager

Technology Stack We use to develop

Sketch
Sketch
Xcode
Xcode
Android
Android
AWS
AWS
Fabric iOS
Fabric iOS
Android Studio
Android Studio
FCM
FCM
Geo-fence
Geo-fence
Google Analytics
Google Analytics
Google API
Google API
MEAN Stack
MEAN Stack
Mantis BT
Mantis BT
Sass
Sass
sendinblue
sendinblue
Google Webmasters
Google Webmasters
stripe
stripe
swift iOS
swift iOS
ZOHO
ZOHO

Why Choose Let’s Nurture to Develop a Fintech Platform?

IBecause we know what makes a good app. We have innovative ideas that will not only ensure your app stands out, but ensure it continues to thrive and evolve for years to come on both Android and iOS systems. Our UI/UX experts will take your ideas and vision and make it a tangible reality that the customer will love. Here are a few more reasons why Let’s Nurture is the right company for your development needs:

  • Market competitive cost of development.

  • Experience in building mobile wallet platforms.

  • Seasoned team with multi-platform expertise in all aspects of system development.

  • Extensive experience in varied business verticals such as field sales, e-commerce, and finance.

  • Experienced AI/ML personnel.

  • Strategic usability and unit testing at each level.

Ready to start your own fintech platform?

Ready to start your own fintech platform?

FAQs

Based on our initial assessment, developing and deploying an app like this typically takes around 20-25 weeks.

Yes, we can provide features for business accounts. The app will provide options for two types of accounts (or more if required), with certain terms. Based on these terms, customers can create and use a business account.

The business logic is in the Service layer architecture. Controllers are for handling the requests and serving the response.

Our QA team will prepare test cases and test every module and feature of the app. We start with smoke testing and move forward with system and acceptance testing.

We are using SSL Layer for any communication over the network, so data is encrypted and protected.
The app will automatically convert the currencies during transactions at the best available rate, and you don’t have to pre-purchase currencies.
There can be a deposit limit set if required. It is suggested to keep a wallet limit for security purposes.
Your idea will be protected under federal intellectual property (IP) laws. While Let’s Nurture will partner with you to ensure your application is of the highest quality, we will make sure IP rights remain with you so the final product is truly yours.
Our payment model is based on milestones, so additional payments are only required once we have reached certain stages of app development.
Let’s Nurture is proudly based in Canada. Our office is located in Moncton, New Brunswick.
We provide support for 3 months after the app is launched. We also provide AMC (Annual Maintenance Contract) services regularly, at 10% of the project cost.

Contact Us

Have an idea for an app? Let us help!

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