Fintech solutions providers across the world are exploring new ways to gain value with AI, big data & analytics, data science, microservices, blockchain, and other emerging technologies. To compete in a diverse fintech landscape and at the same time withstand the pressure from banks and large traditional finance companies, they need to innovate, introduce new service offerings, and win new markets.
However, scaling is difficult without enough engineering resources. Therefore, many fintech app developers form strategic partnerships with third-party vendors and outsource software development.
Reportedly, Europe is one of the most attractive IT outsourcing destinations with a large talent pool and excellent quality of services. Europe saw around $4.7B in total fintech investment over the last year. So engineers in this region have a proven track record in delivering fintech projects. They have the necessary domain knowledge and experience in developing fintech solutions for digital banking, money transfers, personal finance management, risk & compliance management, P2P lending, and a lot more.
For those fintechs that want to team with an IT vendor and boost their engineering capacities, finding a reliable partner is not easy. This list of the best fintech development outsourcing providers is aimed to simplify the search. It considers the vendors’ fintech project case studies, their presence on the market, industry awards, fintech domain knowledge, the number of engineers on board, and other factors.
#1. N-iX
N-iX has been developing software solutions for leading fintech companies and innovative startups since 2002. The company’s expertise encompasses solutions for digital banking, blockchain applications, money transfer apps, online trading platforms, and a lot more. The company also provides integration, optimization, and maintenance of existing fintech solutions.
N-iX has cooperated with a global fintech provider Currencycloud on maintaining, refactoring and scaling their B2B Payments platform. Moreover, the company helped the UK leader in P2P lending develop solutions that matched £2.0B in P2P loans. Another fintech project N-iX team has worked on is Lebara Money, the payments solution which allows its users to make P2P cross-border money transfers.
#2. Itransition
This software development company serves clients from more than 30 countries across the globe. As for its fintech expertise, the company builds solutions for managing and organizing personal finances, monitoring expenses, reviewing savings forecasts and setting up financial goals. The company also develops solutions for billing and payment processing automation, investment management, and transaction reporting.
#3 ScienceSoft
The company specializes in IT consulting and custom software development services in the areas of CRM, data analysis, collaboration and knowledge management, information security, and others. Regarding its fintech expertise, ScienceSoft provides banking CRM consulting services, builds custom solutions for internet and mobile banking, banking document management as well as custom payment and lending software.
#4 Exadel
The company develops enterprise software and tech solutions mainly for the financial and healthcare industries. Around 25% of the company’s solutions are related to the financial and banking sector. They include risk and wealth management software, customer-to-advisor solutions, and various applications for digital banking.
#5 DataArt
This global technology company develops and supports software solutions for companies operating in various industries including finance and banking. The company’s key areas of fintech expertise include solutions for data management, trading, business process management, banking digitization, and enterprise system transformation.
#6 QBurst
This global software development and consulting company specializes in CRM, big data and analytics, and cloud-based solutions. The company utilizes various business intelligence tools to build fintech solutions for data management and analysis. Moreover, QBurst team develops online banking applications and content management solutions for updating audit documents, managing records, and preserving documents.
#7 Netguru
This software development company specializes in Ruby on Rails development, which is one of the key technologies used in fintech. The company has delivered a number of projects for financial, security, and insurance industries.
#8 Eleks
Around 25% of this company’s services are focused on developing solutions for the fintech industry. They include solutions for asset and identity management, risk modeling, and blockchain software development. The company also offers research, development and support services for data management, investment accounting, performance measurement, and attribution.
#9 Qulix Systems
This fintech solution provider builds applications for remote services, such as personal Internet banking, mobile banking, virtual office, etc. The company has already delivered a number of solutions for mobile and social media payments, personal finance management (PFM), remote banking, and location services.
#10 iTechArt
This custom software development company specializes in online trading, electronic data exchange, and cloud‐based technologies. Around 30% the company’s projects are related to the financial sector. The company has developed solutions for advanced monitoring, wealth and asset management, trading signals, and pattern recognition. Moreover, the company has experience in working with turnkey trading platforms and automated trading systems with APIs.
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On the whole, the European IT industry is gaining traction in terms of financial technology growth and development. A big number of local software development providers offer deep expertise in trending fintech verticals and a decent track record of fintech projects. No wonder a growing number of global fintech solution providers opt to cooperate with the European software development vendors.
