How Long Does It Take To Build a Fintech App? All That You Want

How Long Does It Take To Build a Fintech App? All That You Want

Fintech App Development is Trending.

Today, more than 38% of U.S. personal loans are availed through fintech. In 2018, 61% of Americans used digital banking which grew to 65% by 2022.

Fintech-enabled digital payment transactions were valued at US $4,406,431 Million in 2020 alone. By the year 2024, it is expected to reach, US $8,266,917 Million.

After all, there are over 8,775 Fintech startups in America alone. And they are bring something new to the industry. This is the reason about 66.7% share of bank executives believe Fintech will impact wallets and mobile payments globally.

With this, the total value of the international fintech market was worth $127.66 billion in 2018. With the recent skyrocketing, it grew to $309.98 billion in 2022.

So, the whole fintech scene is great. Companies like Apple Pay, Google Pay, and Samsung Pay own 56% of the combined market share and generated billions of dollars.

Another top fintech solution from Apple known as Apple Pay Later was so revolutionary that it changed the market forever even before it was launched. And needless to say, this power move attracted a lot of businesses across the world.

There are companies and start-ups alike want to develop a fintech app of their own. There are a lot of companies who can help you do the same. However, there are a lot of question that people ask like How long does it take to develop a fintech app, how much does it cost, what are the different types, and so on.

If you are someone who is looking for answers to these questions, well, this blog is for you. In this blog, we shall be going through the same and much more.

Therefore, with this being said, let’s get right into it, starting with:

Fintech App Development: Development Time, Cost, Types, and More

Fintech refers to financial technologies.

Now, it is an umbrella term that covers a lot of different technologies and solutions. When it comes to fintech mobile apps, well, there are various different mobile apps.

But the basic function is that these apps allows the users to engage in secure financial transactions and other related functions.

In recent year, with growth in technology, fintech app development services are also growing very popular. Well, but before we get into that, let’s look at different types of fintech apps in next section of the blog.

Types of Fintech App Development

Like we said, there are various forms of fintech apps. And it is important to understand these types because of two reasons.

First: If you want to develop a fintech app, you want to know which one is best for you.

Second : well, development time and cost both highly depends on the type of application.

Therefore, with this being said, let’s get right into it:

Cryptocurrency App Development

Blockchain app development is growing very popular in recent years to say the least.

This technology being decentralized has attracted a lot of attention and become one of the most popular fintech solutions in recent years.

So, this is a form of fintech app, that you should definitely consider developing since it has helped many businesses generate millions of dollars in the market.

Loan Lending App Development

Loan lending app development which is also known as soft loan apps have almost replaced traditional loans.

These apps allows users to avail bank loan in no time and the money is directly credited to the user’s account. There is various loan lending apps that has been performing well in the market and generating good revenue.

Therefore, if you are someone who wants to deal in the same trade, this is an option that you can explore.

eWallet App Development

We live in an age where mobile phones have replaced almost every other thing. TV, newspapers, landlines, and so on.

And it is about time, they replace the traditional wallets. In fact, it already happen. More and more people use digital payment more than cash. Well, well, isn’t that amazing?

EWallet apps are probably the most popular fintech solutions.

So, these are top types. With this out of the way, let’s look at some of the top popular fintech apps in the market in next section of the blog.

Popular Fintech Apps

Some of the best examples of fintech app development in next section of the blog are, as mentioned below:

Chime – Mobile BankingCoinbaseN26 – The Mobile Bank
Nubank – Conta e CartãoRevolutMint

How Long Does It Take To Develop A Fintech App? Average Time

So, how long does it take to develop a fintech app?

Any mobile app development project from fintech to social media doesn’t have a fixed development time.

Well, look at it like this, there is a lot that goes into a development project. An idea, research, different technologies, client preferences, platforms, etc all become factors that can affect development. And when development is affected, the total time is also affected.

So, the question to the answer, “how long does fintech app development take?” is, it depends.

The total development time highly depends on the various factors involved. Due to this reason, it is not actually possible to predict the development cost without learning about the project specification.

Nevertheless, average time might give you an idea. As such, on average, it takes anywhere between 4-6 months. Again, don’t adhere to it since different factors can affect it.

Moving on, if you are looking for a more specific development time or more details on the same, it is recommended that you should consult a mobile app development company that will give you a quote on the same.

Let’s look at the fintech app development phases and how long each step takes in the next section of the blog.

Fintech App Development Phases & Associated Time

The mobile app development process is complex. It can be divided into a lot of different steps. And each of these steps is dealt with individuals consuming a fixed amount of time.

So, how long each step of fintech app development takes?

In this section of the blog, we shall be answering this very question for you. Therefore, with this being said, let’s get right into it:

Ideation & Planning |1 – 2 Weeks

The first phase of development is planning the entire thing and ideation. On average, this process takes anywhere from one week to two weeks but based on the idea it can take much longer too.

Research | 4 – 5 Weeks

Once you have an idea, it is time to conduct research around it.

Since this is the base for the entire process, it is a very important process. Moreover, this is one of the most time-consuming steps, and rightfully so.

Nevertheless, it can easily take more than a month but varies based on the idea, industry, and niche.

Cross-Checking & Design Sprints |6 – 12 Weeks

With the information collected during research, it is a good idea to cross-check the concept. In fact, it is essential.

The process of doing just that in addition to design sprints can take up to 12 weeks at most. However, based on the project, it can also be done as early as 6 weeks.

Design/Development & Testing | 6 – 12 Weeks

With all said and done, it is time that the fintech app development company design and write the application.

Following the development and UI/UX design it will also be tested by the QA team. All of this takes up to 12 weeks at most on average.

Deployment | 2 Weeks

So, once the app is developed, it is time to deploy it. Now, based on the platform deployed process time can be different.

Both iOS and Android apps take up to 2 weeks. However, hybrid app development solutions take much longer for obvious reasons.


So, how long does maintenance take?

Well, let us tell you app maintenance services cost and time highly varies and it is next to impossible to predict it.

The reason is that it is something that continues for the entire lifetime of the app. So, there is no fixed time to it.

So, this is the entire development time for fintech apps. Moving on, we shall be looking at the factors that affect fintech app development time.

Factors That Affect Fintech App Development Time

The app development process is vast and there is a lot of things that goes into it as we already discussed. And in this section, we shall be taking it up a step further by discussing all of those in detail in this section.

These are, as mentioned below:

Fintech App Type

As we discussed at the start of the blog, there are different types of fintech apps. It goes without saying that there are some major differences between them.

Based on these different factors, not only the cost but the time of development can also differ. In that sense, more complex apps take longer to develop.

For instance, a cryptocurrency app development time is much longer when compared to any other fintech app.

Moving on, let’s look at the next section.

Developer Team Size

When you hire dedicated developers one of the things to look out for is the team size.

Why? Because it matters.

When you are working with a larger team, they will get work done easier, faster, and better. Therefore, the larger team gets the work done faster equals less development time.

On the other hand, when you are dealing with a smaller team, well, the time will definitely increase in one way or the other.

In a world where everyone wants to earn, smaller teams are also not recommended since they are known to cut corners.

Complexity of App

Well, well, the complexity of mobile applications is something that can highly affect the total time.

The reason is simple. Well, when you are developing a simple app, it doesn’t take all that much effort or expertise. That is why it is much cheaper.

On the other hand, when you are looking at complex apps, it requires expertise, more cost, higher expertise, a larger team, and so on.

The complexity in relation to the development time is, as mentioned below:

Simple App Development2-4 months
Average App Development4-6 months
Complex App Development9+ months


Well, the mobile app development platform is something that we are all quite familiar with.

Hybrid app development is hybrid app development. But native app development gives us two options. These are iOS and android app development.

Both of these platforms are great, to say the least. However, Android is much more fragmented when compared to iOS which is why it takes much longer.

Tech Stack

Tech stack refers to the set of technologies used for fintech app development.

Now, there is the framework that makes the work a lot easier and faster but with certain drawbacks. And on the other hand, there are some core technologies that provide high customization but take much longer.

This is how the tech stack affects the total time.

Expertise & Experience in Develop

A lot depends on your fintech app developers. And experience as well as expertise is something that matters a lot.

Now, developers who have higher expertise and more experience will get work done faster and with higher quality.

While on the other hand developers who are new to these all, will take a longer time. This is something that you should know.

These are some top factors that affect the total time. Now, if you are someone who wants to learn about the cost, we shall be looking at that next section of the blog.

Average Cost To Build A Fintech App

So, how much cost to build a mobile app?

Just like development time, the development cost is highly dependent on a lot of different factors. And one of the biggest factors is total time.

You see, the longer it takes the more expensive is going to be. After this, other factors are almost mutual.

Nevertheless, the average cost to build a fintech app can range from $25,000 to $75,000. Again, if you are someone who wants to learn more about the same, it is highly recommended that you consult an app development company.


So, this is all you need to know about how long it takes to develop a fintech app and how much it costs to do so.

Now, if you want to learn more about the same or develop your own solution, it is highly recommended that you consult a fintech app development company that will help you with the same.