Banking Software Development Services

Nowadays, mobile banking is a must have solution for financial institution. Online banking is designed to simplify solutions for customers’ problems and provide an impeccable customer experience with the product. With the development of a variety of online products and programs, customers are becoming more demanding about serving and solving their problems using their mobile devices and mobile applications instead of face-to-face communication with qualified specialists as was before. To address the new challenges, the mobile banking application should not only have the basic features of the bank (a money transfer service or loan solutions) but also, it is vital to provide:

• innovations and modernization

• personalization

• bigger velocity rate than your competitors

• back office operations

• user-friendly interfaces

• security and confidence

• 24/7 support

• transparency

to improve user interaction with the mobile app while providing a completely unique custom banking and finance approach.

Our AI in banking solutions are crafted to transform and elevate your financial operations through innovative, intelligent systems. By integrating advanced artificial intelligence, we offer a comprehensive suite of features designed to enhance efficiency, security, and customer satisfaction.

• Intelligent Fraud Detection. Utilize machine learning algorithms to detect and prevent fraudulent activities in real-time, reducing risk and enhancing security.

• Personalized Customer Insights. We help to incorporate artificial intelligence to analyze your customer data. This solution provides tailored financial advice, product recommendations, and personalized service.

• Automated Customer Support. Implement AI-driven chatbots and virtual assistants to offer 24/7 customer service, handle queries, and resolve issues efficiently.

Predictive Analytics. Use AI to forecast trends, analyze transaction patterns, and optimize decision-making processes for better strategic planning.

New occurrences like remote work, in particular, from another country, relocation, workation, traveling as a lifestyle, and globalized supply chains require the ability to operate with different currencies in real-time. The development of centralized online real-time exchange or, in other words, core banking systems is an important competitive advantage for a financial institution. A core banking system is also designed to perform core banking operations of the banking industry like recording financial transactions, passbook maintenance, interest estimates on loans and deposits, consumer data, the balance of payments, and withdrawal. Don’t make it easy for Wise, Payoneer, or Genome to steal your customers who need multi-currency accounts or other solutions in online banking. Claim the victory and make your competitors back off!

Investments guarantee financial security for many people with a pension or passive income. AI-powered trading software development is the most significant solution since it acts as the main tool for the trader. It allows influencing the stock market after live analysis of financial data, risk management, and opportunities evaluation. Given the variety of trading operations, trading platform software should be as individual as possible. It ensures a solution to all possible problems and endows the needs of the trader.

The loan management process is a complicated and complex area that requires modern technological and innovative solutions. Deciding on credit granting is a complex process of loan management because it is necessary to assess many factors. While analyzing financial data, it is needed to study:

• the loan recipient’s credit history;

• their financial status;

• the market situation and conditions;

• regulatory requirements, etc.

Lending software development service allows you to simplify decision-making procedures for financial institutions by creating automated processes, in particular, for risk management and fraud prevention.

Almost forgot, rub it in Upstart’s face with software solutions by Geniusee!

The price of banking software development, like any other, depends on the difficulty and complexity of the work. The specifics and type of software, functions, UI/UX, etc., play an important role. For example, the development of the core banking system will cost more than developing simple mobile apps. Also, it depends on the hourly rates of software developers. On average, the price ranges from several hundred thousand dollars.

User’s data security is one of the top priorities in banking software development. As experienced banking software developers, Geniusee team uses best practices and proven effective approaches to ensure protection and prevent data breaches and leakes. Undoubtfully, hackers constantly working on cracking the best programs, especially that refers to banking software solutions, not even mentioning system malfunctions and dormant dangers. Yet, our dedicated team constantly watching the best protection techniques to provide you with highly secured banking software development services.

The financial software development timeline generally ranges from 6 to 18 months. This timeframe varies based on the complexity of the project, the features you require, and the overall scope. If your solution includes extensive functionalities or integrations, it might take longer. We also account for regular updates and thorough testing phases to ensure quality.

Essential features for your banking software should include secure user authentication, efficient transaction management, and real-time payment processing. You should also consider incorporating regulatory reporting & data analytics tools for effective monitoring, integration with other financial systems, and strict adherence to regulatory compliance. A user-friendly interface and strong security measures are also vital for maintaining customer trust.

We adhere to global standards like PCI DSS for payment gateway security and GDPR for data protection throughout the development of your banking software. We also comply with local regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements, specific to your market. This ensures the safeguarding of sensitive data and maintains operational integrity. We conduct regular audits and updates to stay compliant with evolving regulations.