What You Need To Know About Outsourcing Fintech Software Development

Whether it’s payment systems, financial planning tools, or blockchain applications, fintech software development is essential for driving innovation in finance.

For fintech startups and established financial service providers alike, outsourced finance software development services allow you to tap into specialized expertise without the overhead of building an entire in-house team.

It’s a great choice if you want to boost growth without exhausting your resources. 

In this article, we’ll cover the essentials of outsourcing fintech software development. From the services you can outsource to the benefits and challenges, we’ve got you covered.

We’ll also highlight some of the top companies to outsource to, helping you get started on the right track. 

What Software Development Services Can Be Outsourced by the Finance Sector?

The fintech market is expected to exceed $340 billion by 2025, making it lucrative to tap into it. With the growing demand for innovative financial solutions, outsourcing software development is a great way to stay ahead of the curve.

Whatever you’re working on, there are a variety of fintech solutions that you can outsource.

Application development

Outsourcing application development lets you build custom fintech apps tailored to your business needs. It also keeps you aligned with software development outsourcing trends, such as the growing adoption of AI and automation, giving you access to AI-driven tools and innovative technologies without the expense of costly infrastructure.

Integration services

Integrating various software tools, platforms, and third-party services is a critical part of fintech development. Outsourcing this task guarantees that your systems communicate seamlessly with other apps, APIs, and databases.

API development

APIs are essential for connecting different software systems. By outsourcing API development, you can have customized, scalable solutions that connect your fintech platform with third-party services for better functionality and improved flexibility.

Data analytics and business intelligence

Fintech businesses rely heavily on data, and outsourcing data analytics and business intelligence services can help you make better data-driven decisions. Expert providers can offer insights from big data, improving operational efficiencies and helping you better understand customer needs.

Compliance and regulatory solutions

Outsourcing compliance solutions keeps you up-to-date with regulatory requirements without investing too much time or resources in learning and implementing them yourself. A third-party provider will ensure all local and global regulations are met.

Cybersecurity solutions

Companies worldwide have lost up to $2.5 billion to cyberattacks. With advanced tools and expert knowledge, your outsourcing partner may be able to mitigate risks and safeguard sensitive financial information better than you could on your own.

Key Benefits of Outsourcing Fintech Software Development

The benefits of outsourcing fintech software development go far and wide, boosting the growth of your business.

These are just some of them:

• Access to the technical expertise you need: Outsourcing lets you tap into a pool of skilled professionals with deep expertise in fintech development. These experts bring specialized knowledge that you might not have in-house.
• Cost efficiency: Outsourcing to developers from regions with lower costs of living enables you to reduce operational costs significantly. As your only paying for the services you need, you cut costs on recruitment, salaries, and training.
• Accelerate your launch timeline: With the help of experienced developers and without the lengthy hiring process, outsourcing accelerates the development process and time to market. It allows you to launch your products faster, which is crucial in the competitive fintech market.
• Adaptability to scale: Outsourcing offers the flexibility to scale your resources up or down based on your needs. This adaptability ensures you can respond quickly to market changes without the constraints of in-house staffing.
• Prioritize what matters most: Outsourcing development work means your internal team can focus on core activities like marketing, strategy, and customer service, leading to a more streamlined and efficient workflow.

Effectively outsourcing your development so you can reap all of these advantages relies on choosing the right partner. 

Challenges in Outsourcing Fintech Software Development

While outsourcing offers numerous benefits, there are some common outsourcing challenges to keep in mind. Understanding these challenges will help you outsource the work you need more smoothly. Here are a few examples.

Communication barriers

Effective communication becomes more complex when working with outsourced teams across different time zones. Real-time collaboration, quick decision-making, and maintaining project momentum all depend on clear, consistent communication between your internal team and external developers.

Without proper systems in place, projects can face delays and misunderstandings that impact timelines and quality.

To overcome these challenges:

• Establish primary communication channels (Slack, MS Teams) and set clear response time expectations
• Schedule regular updates at times that work for both teams
• Create a structured process for escalating urgent issues
• Document all key decisions and project requirements in a shared space

You can also opt for nearshore hiring, which connects you with developers from nearby countries (like Mexico or Columbia) for more seamless collaboration.

Cultural differences

When working with external teams, different approaches to workflow and problem-solving can impact project delivery. These differences show up in various ways, from how teams handle feedback to their comfort level with asking questions or raising concerns.

Successfully navigating these differences requires intentional effort and clear frameworks for collaboration.

For smoother collaboration:

• Define clear expectations about deadlines and project management upfront
• Create detailed documentation of your preferred working style and processes
• Schedule regular video calls to build stronger working relationships
• Be explicit about how decisions are made and how feedback should be handled

Lack of domain expertise

Financial technology requires specialized knowledge beyond general development skills. Non-specialist external teams may lack deep understanding of regulatory requirements, security standards, or industry best practices specific to fintech. This knowledge gap can lead to compliance issues or security vulnerabilities if not properly addressed.

To ensure proper expertise:

• Thoroughly vet potential partners’ fintech-specific experience
• Request case studies of similar financial projects they’ve completed
• Verify their understanding of relevant regulations and compliance requirements
• Include domain-specific requirements in your project documentation

Quality assurance

Maintaining consistent quality standards across distributed teams presents unique challenges in fintech development. Different teams may have varying approaches to code quality, testing, and documentation. These discrepancies can lead to technical debt and maintenance issues if not properly managed from the start.

Essential quality measures include:

• Establishing clear coding standards and documentation requirements
• Implementing regular code reviews and quality checkpoints
• Setting up automated testing processes
• Creating detailed acceptance criteria for all deliverables

Intellectual property (IP) protection

Working with external teams on sensitive financial technology requires careful attention to IP protection. Clear agreements about code ownership, data handling, and confidentiality are essential for protecting your business interests and maintaining compliance with financial regulations.

Key protection measures:

• Create comprehensive IP agreements that clearly define ownership
• Establish specific security protocols for handling sensitive data
• Include detailed confidentiality clauses in all contracts
• Set up secure access controls and monitoring systems 

Top 10 Companies to Outsource Fintech Software Development

The best companies to partner with are often in, or source their talent from, the leading outsourcing countries, striking the perfect balance of cost efficiency, skilled talent, and cutting-edge innovation.

Below, in no specific order, we’ve rounded up a mix of providers, including full-service software development outsourcing companies specializing in fintech and recruitment firms experienced in sourcing fintech talent.

1. Near

Near connects businesses with the top 1% of talent across Latin America (LatAm)—including developers. We know finding the right developer takes more than checking technical boxes. We dig deep to understand your company culture and business goals because the best technical talent only delivers value when aligned with your team.

We handle everything from sourcing and screening to international payments and compliance. And we move fast—our typical hiring cycle is under 21 days. When you need skilled fintech developers who will stick around and help you grow, we know how to find them.

Key features

• Focus: Specializes in hiring LatAm-based talent, including software developers and engineers with fintech expertise
• Services: Offers end-to-end recruitment and team scaling solutions
• Pricing: Transparent monthly fee per hire; no fee until you make a hire

Client review: “We had a seamless and impressive experience with Near. Their team was helpful and thorough, ensuring we received the most qualified talent for the position we were looking for. We filled the role within 2 weeks! We will be using Near for all of our remote hiring needs.” – Sydney Archer, VP of Business Ops at Digital Wildcatters

2. Software Mind 

With offices in Europe, the US, and LatAm, Software Mind is a global digital transformation partner that has been operating for over 20 years. Its cross-functional engineering teams have delivered 1,000+ projects, leveraging expertise in cloud, AI, data science, DevOps, and embedded software. 

Key features

• Focus: Specializes in data engineering and AI-driven solutions
• Engagement model: Provides staff augmentation for cloud-native platforms
• Industries: Financial services, telecom, manufacturing, sports betting, real estate, media and entertainment, biotech and life sciences

Client review: “Their client-centric approach was evident in their willingness to go above and beyond to ensure our satisfaction.” – Anil Bandhakavi, Director of AI Solutions and Research at Logically (via Clutch)

3. Luxoft

With 61 offices across 29 countries, Luxoft is a leader in software outsourcing. Specializing in de-risking software development and optimizing costs, the company uses analytics and engineering expertise to drive business success. Over 60% of its engineers hold advanced degrees.

Key features

• Focus: Provides end-to-end digital and software engineering solutions
• Delivery models: Autonomous squads (independent roles), application ownership (all-encompassing team for a specific scope), and application portfolio ownership (complete autonomy)
• Industries: Automotive, banking, insurance, capital markets, and semiconductor industries

Rating: 4.6 score based on 117 reviews on Trustpilot

4. Flatirons

Flatirons is a nearshore development firm serving the US and LatAm, specializing in fintech solutions. From blockchain technology to AI-powered financial tools, Flatirons delivers tailored software with a focus on long-term partnerships. Its average client relationship spans three years.

Key features

• Engagement models: Offers project outsourcing and staff augmentation models
• Industries: Serves fintech, healthcare, legal tech, real estate, and transportation industries
• Specialization breakdown: Expertise includes web development (40%), UX/UI design (20%), AI development (15%), mobile apps (15%), and low/no-code solutions (10%) (via Clutch)

Client review: “Having a team that acts like a true partner and helps us build the product has been wonderful.” – Chris Deutschman, Founder and CEO at Jombine (via Clutch)

5. DashDevs

With a portfolio of 80+ fintech solutions, DashDevs is a global software development and fintech consulting firm. Specializing in custom software, it handles integration, security, and ongoing support, helping businesses modernize systems and adopt emerging technologies for better outcomes.

Key features

• Engagement models: Dedicated team, project-based outsourcing, hybrid outsourcing model
• Team composition: 200+ experts across the US, UK, Portugal, Poland, and Hungary with 14 years of industry experience
• Specialization breakdown: Custom software (25%), mobile apps (25%), web development (25%), business consulting (15%), financial consulting (10%) (via Clutch)

Client review: “They performed well as thought partners on the technical architecture and were thoroughly invested in the product.” – Jonathan Rochez, VP of Engineering (via Clutch)

6. Rewisoft

With over 50 specialists working across four offices in the US and Europe, Rewisoft provides secure and innovative fintech solutions. Its portfolio includes advanced systems like loan management tools and fintech applications. Rewisoft is the trusted software development partner of over 100 businesses worldwide. 

Key features

• Focus: End-to-end mobile app and web development services
• Industries: Fintech, real estate, e-learning, and healthcare
• Pricing: Mobile app and web development start at $40,000, with detailed estimates available upon request

Client review: “Being able to jump into a very niche product and add value in such a short period of time impressed us.” – Patrick Dunagan, Owner and CEO (via Clutch)

7. Keeper Solutions

Keeper Solutions develops world-class financial software for the US and European markets. From portfolio management to payment systems, it delivers advanced fintech tools tailored to complex regulatory environments. Founded in Ireland in 2011, Keeper Solutions supports fast-scaling firms with its deep industry expertise.

Key features

• Focus: Financial software development, understanding security requirements and regulatory complexities
• Team composition: 80+ experts across Costa Rica, Serbia, Romania, and Croatia, with a senior management team in Ireland
• Specialization breakdown: Custom software (50%), application management and support (10%), generative AI (10%), IT strategy consulting (10%), mobile app development (10%), product design (10%) (via Clutch)

Client review: “They’re very effective, self-sufficient, and proactive, and they’re open to any tasks we give them.” – Tiernan Kennedy, CEO at Umba (via Clutch)

8. Saigon Technology

Founded in Vietnam, Saigon Technology has locations in the US, Australia, Switzerland, and Singapore. Established in 2012, it has a team of 400+ software engineers that embrace an Agile mindset. Saigon Technology has successfully delivered over 800 projects, ranging from startup solutions to large-scale enterprise systems.

Key Features

• Focus: Offshore software development centers and software outsourcing services
• Engagement models: Staff augmentation, fixed-price model, dedicated development team, offshore development center, build-operate-transfer, outstaffing model
• Industries: Fintech, healthcare, transportation, logistics, business software, retail, banking, supply chain, e-commerce, education, oil and gas, construction, travel, agriculture, real estate

Client review: “What I like best about Saigon Technology is their commitment to understanding and meeting the unique needs of their clients. Their team is not only skilled but also genuinely cares about delivering quality results.” – Sofia W., Business Development Executive (via G2)

9. Yalantis

Yalantis delivers secure, high-impact innovative solutions in AI and ML, IoT, big data, data science, cybersecurity, cloud and DevOps, and custom software development. Since 2008, it has helped companies in fintech, healthcare, real estate, and supply chain management thrive with secure, scalable digital products.

Key features

• Focus: Software engineering and IT consulting
• Team composition: 500+ specialists with locations in Ukraine, Poland, Cyprus, and Estonia, bringing 15 years of experience
• Specialization breakdown: Custom software development (40%), AI development (20%), BI and big data consulting and SI (20%), IoT development (20%)

Client review: “The Yalantis team has surpassed everyone’s expectations with the results we’ve gotten for the money we’ve spent.” – Bryan Adams, CTO at Duo Health (via Clutch)

10. Brainhub

Based in Poland, Brainhub builds impactful fintech applications for both startups and enterprises. With a focus on preventing tech debt, optimizing scalability, and delivering ambitious product roadmaps, the company has completed 80+ projects.

Key features

• Focus: Software engineering services with an emphasis on cloud technologies
• Talent verification: Claims to hire the top 1.36% of talent skilled in React, Node.js, .NET, and AWS, with a rigorous screening process to select only the most driven and passionate engineers
• Industries: Fintech, banking, accounting and tax, with insurance, regtech, and biotech upcoming

Client review: “Everyone we have worked with on the Brainhub team has been curious, self-driven, and structured.” – Ronald Bernette, Founder and CEO at Collegial (via Clutch)

Final Thoughts

Finding the right development partner for fintech projects comes down to more than just technical capabilities. You need a team that understands financial regulations and security requirements and knows how to build scalable solutions that can handle sensitive data.

Whether you choose to work with a development firm or build your own remote team, the key is finding partners who can truly integrate with your existing processes and deliver consistent results.

As you evaluate your options, consider exploring development talent in Latin America. 

Many companies are discovering that LatAm offers a unique combination of technical expertise, time zone alignment, and cultural compatibility that makes collaboration especially effective.

Learn more about this approach in our article “Nearshore Software Development Outsourcing: A Complete Guide.”