Updated September 2026 · Written and maintained by the Progression Agency strategy team
Progression Agency is a fintech software development company building custom financial software for fintech startups, lenders, credit unions, wealth and payments businesses: customer onboarding, account and transaction apps, lending workflows, payment integrations and financial dashboards, engineered for security, auditability and the regulators your product answers to.
On this page · 11 sections
- What is fintech software development?
- Financial software we develop
- What features does fintech software need?
- Which financial systems do we integrate?
- Security and compliance for financial software
- Our fintech development process
- How much does fintech software development cost?
- Technology for fintech software
- Mistakes to avoid in fintech projects
- Why choose Progression Agency for fintech software?
- Related services
The short answerFintech software development is building software that moves, lends, stores, analyzes or reports money — digital banking and wallet apps, payment platforms, lending systems, investment tools and back-office finance software. What distinguishes it is identity verification (KYC), fraud controls, strong authentication, precise ledgers, audit trails and compliance with rules such as PCI DSS and federal consumer-finance law. Custom fintech software commonly costs $100,000-$500,000+ and takes 5-12 months.
Regulatory descriptions are summaries, not legal advice; confirm obligations with counsel. Cost ranges are planning figures.
What is fintech software development?
Fintech software development is designing and building custom software for financial services: applications and platforms that handle payments, accounts, lending, investing, insurance or financial data, with the security, accuracy and regulatory controls that money requires.
Most fintech products combine a customer-facing app with partner infrastructure — a banking-as-a-service provider, payment processor, card issuer or data aggregator — and a back office for operations, support and compliance. We build all three layers and the integrations between them.
Financial software we develop
Our fintech software development services span consumer products, B2B platforms and internal finance tools.
Digital banking and wallet apps
Account views, transfers, cards and statements, built on banking-as-a-service partners or core banking APIs.
Payment platforms and integrations
Card, ACH and real-time payments, payouts, subscriptions and marketplace money flows.
Lending software
Applications, document collection, decisioning integrations, servicing portals and collections workflows.
Credit union and community bank software
Member onboarding, loan applications and financial-wellness tools integrated with core systems; see our credit union work.
Investment and wealth tools
Client portals, portfolio reporting and advisor dashboards.
Insurance and insurtech
Quoting, policy and claims workflows; see insurance software development.
Finance operations automation
Reconciliation, reporting and approval workflows that replace spreadsheets.
Member onboarding, loan applications and financial-wellness tools integrated with core systems; see our credit union work.
What features does fintech software need?
Trust features matter as much as the product feature itself.
| Feature | Why it matters |
|---|---|
| Identity verification (KYC) | Required onboarding and fraud prevention |
| Strong authentication | MFA, biometrics, device binding |
| Double-entry ledger | Balances that always reconcile |
| Transaction monitoring | Flags suspicious activity |
| Audit trails | Every change attributable |
| Statements and notifications | Clear, timely customer communication |
| Dispute and support tools | Resolve issues quickly |
| Reporting | Regulatory and management reporting |
Which financial systems do we integrate?
Fintech products are integration-heavy by design.
| System | What we connect |
|---|---|
| Payment processors | Card, ACH and payouts |
| Banking-as-a-service | Accounts, cards, money movement |
| Account aggregation | Linking external accounts |
| KYC / identity providers | Identity and document verification |
| Core banking | Credit union and bank cores via APIs |
| Accounting | General ledger and reconciliation |
Security and compliance for financial software
Which rules apply depends on the product and your partners. We map them before design.
- PCI DSS when card data is stored, processed or transmitted.
- KYC and anti-money-laundering programs, typically operated with your bank partner.
- Federal consumer-finance rules overseen by the CFPB.
- Gramm-Leach-Bliley Act privacy and safeguards requirements.
- SOC 2 evidence for enterprise and partner due diligence.
- State licensing requirements for money transmission and lending, confirmed with counsel.
Our fintech development process
We map every money flow and partner first, design a ledger and permissions model, build in sprints with high automated test coverage, run threat modeling and penetration tests, and launch with monitoring and fraud controls.
How much does fintech software development cost?
As a planning range, a focused fintech MVP on partner infrastructure commonly costs $100,000-$200,000, a full digital banking or lending platform $250,000-$500,000+, and internal finance automation $50,000-$150,000.
| Scope | Typical range | Timeline |
|---|---|---|
| Finance operations automation | $50,000-$150,000 | 2-5 months |
| Fintech MVP on partner infrastructure | $100,000-$200,000 | 4-6 months |
| Lending platform | $200,000-$400,000 | 6-10 months |
| Digital banking or payments platform | $250,000-$500,000+ | 8-12+ months |
Technology for fintech software
Precision and security guide every technology choice.
| Layer | Choice |
|---|---|
| Front end | TypeScript, React, Next.js |
| Mobile | Swift, Kotlin, React Native |
| Backend | Node.js, Python, strongly typed services |
| Data | PostgreSQL with double-entry ledger design |
| Security | Secrets management, encryption, WAF |
| Hosting | AWS, Azure or Google Cloud with infrastructure as code |
Mistakes to avoid in fintech projects
These are expensive to fix after launch.
- Storing balances instead of deriving them from a ledger.
- Choosing a banking partner after designing the product.
- Treating KYC as a form rather than a process.
- Using floating-point numbers for money.
- Skipping idempotency on payment requests.
- Launching without monitoring and a fraud playbook.
Why choose Progression Agency for fintech software?
Financial products need engineering precision and a go-to-market plan.
- Money-flow and ledger design before screens.
- Partner integration experience across payments and banking-as-a-service.
- Security testing and SOC 2-ready practices.
- Launch marketing for financial brands.
- You own code, data and accounts.
- Headquartered in New York City.
Related services
See custom software development, MVP development and mobile app development.
Building a fintech product?
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Frequently asked questions
What is fintech software development?
How much does fintech software development cost?
How long does it take to build a fintech app?
Do I need a bank to launch a fintech product?
What is KYC?
What is PCI DSS?
Do you build banking software for credit unions?
Can you integrate payments into our app?
How do you keep financial data secure?
Do you build lending software?
What is a double-entry ledger?
Who owns the fintech software?
Where is Progression Agency located?
What should I look for in a fintech software development company?
What tech stack is best for fintech?
Can you build a digital wallet app?
How do you prevent fraud in fintech apps?
Do fintech apps need SOC 2?
Can you build software for insurance companies?
How much maintenance does fintech software need?
What should fintech software development companies be able to show?
How do financial software development companies price a project?
Need software built?We build onboarding, KYC, payments and account applications on compliance-ready architecture for lenders and fintechs.
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