Our blogs

Top 5 Fintech Software Development Companies In The World

Fintech software development is revolutionizing the way humans conducted finance till now. In fact, it is estimated that by the year 2030, the fintech industry will grow to $2 trillion. Now that's some growth, right?

To make sure you too are in on the act of this rapid transformation, here are some top Fintech software development companies that can help you get started.

Their experience has helped them build great software like mobile payment processing software, payroll management software, and many more to come.

Moreover, these companies can build software for any platform.

Here Are Some of the Top Fintech Software Development Companies

  • Tech Mahindra :
    Tech Mahindra is a leading global provider of information technology, networking technology solutions, and business process outsourcing services with over 100 locations across 25 countries.
    The company has incubated many startups and is the go-to-guys when it comes to building fintech software applications that touch upon cyber security, blockchain tech, and data analytics – all hot areas within Fintech. Tech Mahindra's fintech portfolio includes companies such as Qbera, eMudhra, MoShield, and MphasiS BFL.
  • IBM :
    IBM is a global leader in providing IT Services, which now includes financial technology services with the launch of IBM Watson Financial Services. It has recently created an 'Innovation Centre' that will focus on building new-age banking solutions around blockchain.
    This innovation center will also house its cognitive computing platform -Watson – which gives the company access to over 2000 APIs (application program interfaces). With these at their disposal, they can offer their clients everything from facial recognition to predictive analysis of data merely by asking for it.
  • Cognizant :
    Cognizant is a large IT services provider, with over 95,000 employees worldwide. Cognizant recently made the news when they announced that they will be hiring between 12,000 and 14,000 employees in 2016 alone – which would mean opening up to 2 new jobs every hour.
    They already have over 3,300 people employed at their Blockchain Innovation Lab and Center of Excellence in Chennai and plan on opening a facility in the US as well. Moreover, they are also working to promote awareness of blockchain technology in India.
  • Accenture :
    Accenture is an Irish corporation with over 400,000 employees working across 120 countries around the globe. The company focuses largely on business consulting services and IT solutions development but recently has gotten into multiple industries related to blockchain technology research including digital currencies themselves. They specialize in providing organizational and business restructuring, digital technology services, high-end consulting solutions, and more.
  • Infosys :
    Founded by seven engineers in Pune (Maharashtra) way back in 1981, Infosys was originally called Infosys Consultants Pvt Ltd; it changed its name to its current one in April 1981. Infosys is recognized as a leader in next-generation digital services and has an impressive client list that includes Airbus, BMW, Coca-Cola, just to name a few.
    The company made its mark on the international map when it became the first India-based IT service provider to enter the elite club of billion-dollar valuations back in 1999; today it's worth about $30 billion after four successive years of hitting that target.

You May Like: The Use Of Artificial Intelligence(AI) In the Manufacturing Industry

Top 5 Fintech Software Development Companies In The World

How Can Fintech Software Development Companies Help You?

Fintech software development companies are known to provide enterprise software development solutions to financial services firms to enable them for efficient growth.

As companies are looking forward to exploring their domain in these spheres, they require the assistance of highly dexterous fintech software developers who can help them come up with custom-made solutions that can benefit their business goals in multiple ways.

Fintech software is known for providing solutions that can be used on mobile phones and tablets.

This software delivers services like online money transfer, payment processing, virtual credit cards, and so on, which makes it easier for customers to conduct their day-to-day financial transactions.

Several tech giants around the world have already started using these technologies as they expect huge benefits from them soon.

Fintech software development services are expected to play a crucial role in shaping the future of modern-day financial transactions.

The Following Are Some of the Reasons Why You Should Integrate Fintech Apps With Your Business:

  • Easier To Use & Access:
    The best thing about these apps is that they offer simplified user interfaces and workflows, which make it easier for customers to use them on their mobile phones or tablets for conducting day-to-day transactions from anywhere in the world. This brings down operational costs significantly as you won't have to hire employees who can do this job for them, saving up on training expenses too.
  • Seamless Integration Of Data From Multiple Sources:
    These apps also bring in the power of big data to help financial institutions make better decisions based on analytics. This increases the rate of accuracy, reduces errors, and increases overall efficiency too. Let's take an example from fintech apps for small business owners which provide end-to-end tracking of accounts payable data from multiple sources including email, phone, or fax submissions. You can use this information to automate invoice processing, avoid duplicate invoicing and identify late payers in your supply chain with a simple click.
  • Real-time Tracking & Alerts:
    With real-time information at their fingertips, users get alerts about payments made via credit cards, bank accounts, or debit cards through P2P transactions or wire transfers. Not only does this help them keep track of their finances, but it also allows them to reconcile that information with the bank statements at any time.
  • Real-time Invoice Alerts:
    Users also receive real-time alerts about their incoming invoices, including ones they have forwarded for approval, so they receive an immediate notification of minimum payment due dates and can take action well in advance. The system enables automatic reminders to be sent via SMS or email too, so important deadlines are never missed.
  • Machine Learning & NLP:
    For business owners who operate on limited resources but need access to accurate information all the time, machine learning algorithms enable invoice processing without human intervention by detecting relevant data patterns and suggesting automatic categorization into tax categories based on invoice content (this is done using natural language processing). This not only saves time and effort but also ensures error-free billing.
  • Artificial Intelligence:
    The ongoing revolution in voice recognition technology enables quick identification of invoices as soon as they arrive, allowing invoices to be easily parsed through a natural speech generation mechanism for easy assimilation of data. This tech is AI-backed which means that it gets better with usage over time thus creating a beneficial feedback loop.

You May Like: The Future of AR/VR and IoT for Businesses

How Can MedRec Technologies Help You Build a Fintech Software For Your Business?

MedRec Technology is well-versed in the tech startup world. We specialize in creating products such as custom software, apps, websites, e-commerce platforms, and more. Our #1 goal is to help others in the business build out their tech ideas into tangible products that can be used in the real world.

We live in a digital age where technology has become an integral part of many businesses. What's even better than having the idea for your next big product? Being able to go from concept to design with the help of professionals who know everything about fintech apps so you don't have to worry about figuring it all out yourself. MedRec Technology can help you do just that. We're creators who work hard to come up with fresh ideas and new ways to turn them into reality for our clients.

We offer a full spectrum of services, so if you need help with your fintech app development in the future, we'll be there for you. We've seen it all and can tackle any challenge when it comes to creating products that will take your business up a notch and running an efficient company. Our expertise and experience give us an edge to develop a fintech app with all the essential features for your business.

Here at MedRec Technology, we do things differently than other IT companies and our mission is to provide clients with unique solutions that bring results.

Our team consists of experienced developers who work hard every day to perfect their craft and deliver outstanding products that stay ahead of the curve.

Also Read :