Fintech App Solution cost saving | Learning Financial Industry

Banks have been sluggish to modernize. Most incumbent banks struggle to incorporate a contemporary software stack. FinTech’s use new, creative technologies to enhance or automate financial services. Fintech’s primary value is its platform and cutting-edge innovation.

Typical integration strategies examine the target’s technical debt (age of systems, mainframe, and data centers). This approach emphasizes the pyramid of technology cost take-out, with technical debt crucial to synergy. Acquirers start with infrastructure and end-user computing, then move on to application rationalization.

Fintech businesses don’t carry much technical debt, and leverage relies on maturity and investment. Accenture’s Banking Cloud Altimeter demonstrates that just 12% of the typical North American bank’s workload is in the cloud. Fintech deal economics depend on their capacity to launch new goods or services quickly, supported by a contemporary technology stack and operational strategy.

The transaction thesis must favor growth above cost reductions. Due to fintech’s’ fast-paced, ever-changing technological ecosystem, their speed to realize this objective is crucial. Integration is sometimes linear, and expediting the convergence of the fintech and acquirer’s systems and technology stacks may lead to something other than value realization.

Crafting the right IT integration plan will be difficult and crucial. Two elements primarily affect a tech integration approach in our experience.

Upgrade timing

Most banks are updating fundamental systems. This suggests that the acquired tech stack’s goal is shifting. No target may exist.

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Nearly every bank has started its cloud journey, but only some have progressed far.

Accenture’s Global Banking Lead, Michael Abbott

Before the purchase, the acquiring bank must evaluate how well the fintech’s tools and processes suit its nature, breadth, and complexity. Remediation might be expensive and hinder integration plans. By detecting tech stack disparities, integration companies may plan efficiently.

Governance, architecture, and delivery strategies are also important. Operating procedures such as how fast decisions are made and contracts are executed, and product upgrades may impact value generation by affecting deadlines and execution efficiency.

Cloud migration maturity

The cloud provides more than on-demand computing, storage, and a network. Cloud provides a launchpad for innovation and new ways of working, says Accenture’s Cloud Continuum research.

This boosts inventiveness. The cloud continuum meets the ever-changing business demands with seamless technologies and capabilities.

It’s tough to handle complicated legacy systems, alter business and operational models, update architecture, apps, and data, reskill your employees, and comply with legislation.

Cyber risk is another danger. Cyber-security management is developing so fast that cloud providers can offer more complex security than most on-premise organizations. Many companies fear lost or damaged data. When moving employee and client data to the cloud, they’re even more cautious.

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How should you integrate fintech?

Accenture recommends simultaneous technology integration threads.

  1. First, a classic integration approach emphasizes IT consolidation and refining the current infrastructure to make it repeatable. Change management helps banks retain and expand customers. The standard playbook works well for email, collaboration, and storage. Banks should handle these regions effectively. Ensure that technology can facilitate functional integration of finance, HR, and legal. Integration never occurs in a vacuum; acquisitions must be balanced against ongoing structural efforts.
  2. The second thread is fintech integration. Here, technological integration cannot hinder growth-driven development with a revenue-centered transaction thesis and the inability to justify the purchase on cost savings, a strategic and in-depth evaluation of growth prospects and the market is required. Product engineering and product roadmaps are vital to growing technology, connecting existing systems and applications, and providing growth. To accomplish this and retain fintech’s distinctive skills, vision and roadmaps should be defined collectively.

Fintech app development cost reduction

Now that you know the fintech app development cost, you can reduce it.

  • Find the essentials and ignore the rest.
  • Every app feature raises development costs. To remain on a budget, pare down your needs to the
  • necessities. Develop just the functionality you need in the program, not useless tools.

Consider white-labeling

When designing a fintech or banking app, choose a white-label solution like 10Pearls finance SaaS. This white-label solution follows all fintech compliance norms. You may acquire the source code license to customize it for your company.

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Choose a developer

You are saving money by outsourcing to an experienced fintech development business. These firms have financial app-building professionals. You can Hire a Developer or you may also choose Fintech Software Development Company for arrangement of best fintech app.

Develop correctly

Agile provides continual iterations and sprint-based development; therefore, most finance teams utilize it. Find a project manager with expertise in Agile, SCRUM, Lean, and other approaches to fulfill delivery deadlines and eliminate mistakes.


Costing a financial app takes careful consideration of numerous elements. It would help if you chose the app type and audience. Focus on the development methodology and technology required to meet the deadline. It would be best to use a hybrid Lean-Agile development methodology to cut expenses.

10Pearls finance offers a payment platform in two formats: a subscription-based SaaS version and a one-time flat-fee source code version.

Our 15+ years of fintech development expertise makes us a trusted partner for designing digital banking and payment solutions. Discuss your payment product needs and how our platform might assist launch it.
We welcome your questions on fintech integration in today’s industry. We’re here.

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