ScienceSoft Global
Financial Software Development Services
Serving a wide range of industries, ScienceSoft gives special attention to the banking, financial services, and insurance sector (BFSI). Since 2005, we have been delivering secure and compliant BFSI solutions that bring 2–25x+ faster business processes, 5–40% reduction in operational costs, 10–15% increase in revenue, and 100% visibility of financial transactions.
Financial software development services are a way for BFSI companies to obtain robust solutions that automate and transform service workflows. Custom financial software helps boost operational efficiency, improve customer engagement and retention, and leverage new, more profitable business models.
ScienceSoft provides full-cycle IT consulting and software engineering services to help BFSI companies digitally transform their service operations and unlock new opportunities for growth. We guide our clients through the entire financial software implementation journey and give the highest priority to data security and regulatory compliance.
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Looking to build corporate financial software (e.g., accounting, billing, FP&A) for a non-BFSI firm? Visit a dedicated page. |
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Why Trust the Engineering of Financial Software to ScienceSoft
- Since 2005 in engineering IT solutions for the financial industry.
- Financial IT and compliance consultants (SEC, NAIC, PCI DSS, GLBA, NYDFS, GDPR, etc.) with 5–20 years of experience.
- 30+ principal and senior architects with hands-on experience in designing complex finance automation systems and driving secure implementation of value-adding technologies.
- 45+ certified project managers (PMP, PSM I, PSPO I, ICP-APM) who succeeded in large-scale projects for Fortune 500 firms.
- Since 2003 in cybersecurity services for BFSI apps and infrastructures.
- Well-established Lean, Agile, and DevOps processes to ensure fast development.
- Quality-first approach based on an ISO 9001-certified quality management system.
- Robust data security management supported by an ISO 27001 certificate.
Software Engineering for All Financial Service Domains
Click on the cards below to explore a full scope of ScienceSoft’s services for your business area.
Solutions to Handle BFSI Operations of Any Complexity
ScienceSoft engineers specialized solutions and all-in-one systems with accurate logic to seamlessly handle even the most complex and specific BFSI operations. Depending on our client’s preferences, we can create custom software from scratch or build a budget-friendly automation app on a low-code platform like Microsoft Power Apps.
Examples of BFSI solutions we deliver include:
Web and Mobile Applications to Elevate Customer Experience
Since 1999 in web and since 2005 – in mobile development, ScienceSoft creates custom web and mobile applications for the customers of banks, financial services companies, and insurance providers. Our financial software development company delivers customer-facing BFSI apps for diverse use cases:
Our BFSI Clients About Their Experience With ScienceSoft
ScienceSoft are responsive, technically sharp, and they communicate well with our people. When we've needed to move fast, they've stepped up and delivered. What I appreciate most is their proactive approach. They don't just wait for us to identify issues. They bring solutions to the table and help us prioritize what matters most. That kind of partnership is hard to find.
I commend how steady and transparent the team was throughout the process. On a project of this scale, late changes and new questions were inevitable, but ScienceSoft stayed responsive, flexible, and in control of scope and timelines.
Since the start of our cooperation in 2016, ScienceSoft has been a reliable tech partner in our mobile banking development projects. We are impressed with their pragmatic project management, quality-first mindset, and transparent communication. ScienceSoft’s solution architects, developers, and QA engineers are true experts in their fields.
ScienceSoft’s team quickly integrated into our development workflow, maintained transparent communication, and improved the efficiency of our in-house developers. Thanks to ScienceSoft, we achieved our project goals on time and within budget. They provided high-quality service and valuable tech insights that aligned well with our vision and specific needs.
What always set ScienceSoft apart is their resistance to mediocre results and their proactive advice on meaningful improvements. Their early suggestions on optimizing the UX of BPM apps helped improve software usability and avoid costly code-level changes down the line. With ScienceSoft’s assistance, we stayed on schedule and delivered efficient, user-friendly BPM apps that perfectly met our client’s needs and UX expectations.
Costs of Custom Financial Software Development
Finance software development costs may vary significantly depending on the type of software you want to create, as well as on the scope of the solution's functional and non-functional capabilities.
Based on ScienceSoft's experience, financial software development costs may range from ~$150,000 to $2,000,000+, the lower applying to a custom mobile app for the finance company's clients and the upper – to a complex system automating specific BFSI operations.
Want to know the cost of your financial solution?
Our Success-Driven Approach to BFSI Software Engineering
Our teams and dedicated project managers ensure that goals are achieved, costs and time are predictable, and uncertainty is addressed agilely. You are welcome to check the descriptions of our project management and development practices backed by examples from our real-life projects. We also highlight unethical market practices and ways to address vendor-associated risks.
Project planning
- Agile scoping and scope creep prevention.
- Project resource selection and assignment.
- Analyzing the project’s economic feasibility.
Cost estimation
- Our software development pricing models.
- Cost estimation factors and models.
- Cost optimization best practices.
Development flow
- Our risk mitigation steps throughout the SDLC.
- Our change management process.
- Sample software documents we deliver.
Collaboration
- Collaboration roles, models, and toolkit.
- Our knowledge management activities, techniques, and tools.
- Data and assets we secure.
- Security management procedures during the cooperation.
- BFSI standards and regulations we help address.
- Our compliance-centered development process.
- Our approach to engineering software with accurate financial and actuarial logic.
- Operations to drive financial app accuracy in the long run.
- How we foster longevity throughout the software lifecycle.
- Our tech stack to build durable financial software.
- Our approach to after-launch software support.
- Terms and coverage of our software warranty.
Technologies & Tools We Use To Build Reliable BFSI Software
Back-end programming languages
Front-end programming languages
Languages
JavaScript frameworks
Mobile
Desktop
Low-code development
Databases / data storages
SQL
NoSQL
Cloud databases, warehouses, and storage
AWS
Azure
Google Cloud Platform
Other
Big data
Platforms
DevOps
Containerization
Automation
CI/CD tools
Monitoring
Technologies Driving Up the Value of Financial Software
Frequently Asked Questions
Will you help us optimize the project cost?
We analyze a client’s business needs to define an optimal feature set for the finance solution and avoid packing it with unnecessary functionality. We also apply an iterative approach to BFSI software development to introduce essential features first and enable faster payback from software implementation. Plus, ScienceSoft relies on proven frameworks, platforms, and ready-made components where possible to streamline financial software engineering and cut its cost.
What are the popular cooperation models for BFSI software development?
Depending on our clients' needs, ScienceSoft can provide full outsourcing of BFSI software development, a dedicated team to take over a part of the project, or team augmentation with our best talents.
Do you offer any specific services for fintech?
ScienceSoft provides full-cycle design and engineering services to help fintech startups and traditional BFSI companies create innovative solutions that enable more efficient financial service models. For fintech companies specifically, we provide product, security, and compliance consulting services to help them step into the market with minimal risks and promptly succeed with the brand-new solution. Visit our dedicated page to learn more about ScienceSoft’s fintech development offering.
Reinforce Your BFSI Operations With Tailored Software
