Best practices
Oct 11, 2024
Why Uptech?
200+
Solutions delivered
Expertise in6 industries
Fintech, Healthcare, Logistics, Real Estate, E-commerce, Delivery
8years of experience
in software development, design, QA, and product discovery
Top B2B
Service Provider by Clutch
Neobank App Development Services We Provide
Yan Likarenko
Product manager at Uptech
Get a free consultation on your neobank project
Get a free consultation
Get a free consultation
Our Successful Cases
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Cardless
A Neobank App for Branded Credit Cards Creation
Cardless is a fintech company that helps brands build credit cards in weeks. We helped the Cardless team build a native Android app from the ground up in 3 months, rebuilt the app's architecture and logic, and provided full app maintenance.
View Case Study
View Case Study
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Aspiration
Online Green Banking App
Aspiration is a green fintech company that is good for users and good for the world. Uptech has been working with Aspiration since 2016 to implement secure, fast, and reliable iOS & Android apps.
View Case Study
View Case Study
THIS WAS A GREAT EXPERIENCE. UPTECH IS PROFESSIONAL AND SELF-SUFFICIENT. THE TEAM QUICKLY GAINED CONTEXT ON OUR BUSINESS, AND WAS ABLE TO DELIVER ON TIME.
SARAH ZUCKERMAN ENGINEERING MANAGER at CARDLESS
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Neobank App Features We Create
Develop a truly modern banking app with us. Here’s a glimpse of some of the in-demand features we create at Uptech.
AI Integration
AI can work with your neobank app data, like transaction patterns and user behavior, for enhanced personalization, investment predictions, and credit scoring. We ensure these integrations comply with standards such as GDPR, CCPA, and PCI DSS for data protection.
Chatbots and AI Assistants
With neobanks, customers rely solely on digital channels for support. You can effectively provide this 24/7 using chatbots and AI assistants. Offer instant resolutions and prompt answers and ensure customer satisfaction at all times.
Biometric Authentication
In addition to passkeys, biometric measures like fingerprint or facial recognition serve as a second layer of defense. By requiring biometric confirmation for each transaction, your neobank app protects sensitive information, prevents fraud, and enhances user trust.
e-KYC
Much like traditional banking, KYC remains crucial for assessing customers during onboarding. We make this process easier for the user by integrating services like digital identity verification, biometric authentication, and automated checks into the neobank app.
Integrated Payments and Transfers
55% of users shared that convenience is a major reason they prefer neobank apps over traditional banking. We enhance this by offering multiple payment methods, instant transfers, recurring payments, easy invoicing, and other features that simplify user transactions.
Cross-Border Payments
With cross-border payments, your clients can send and receive money globally with ease. Your neobank app is able to offer secure and fast international transactions, which makes for greater convenience, financial control, and an edge in global markets.
How We Build Neobank Apps
01
Conduct the Discovery
Uptech begins with product discovery to define your target audience and establish your product’s value proposition. We conduct user and competitor research to identify their pain points and outline your product’s roadmap. Our team picks the right business model for your neobank app based on this information.
02
Assemble the Team
To begin development, we assemble a dedicated team of fintech engineers, UI/UX designers, AI specialists, QAs, and project managers. If you choose staff augmentation, we’ll onboard the necessary specialists and seamlessly integrate them into your existing team. Adjust your team size as needed as your project progresses.
03
Communicate with a BaaS Provider
After discovery, we select a suitable BaaS provider based on the general features to be developed for your neobank app. We usually recommend providers like Galileo and Treasure Prime, which are known for their robust financial services. BaaS APIs will allow users to manage their loans, bill payments, fund access, and more.
04
MVP Development
Using established design concepts from the product discovery phase, prioritized features, and services from the selected BaaS provider, our software engineers develop the core version of your neobank app. Our QAs ensure code quality and security during this stage and prepare the app for subsequent improvement sprints.
05
Ensure Compliance and Security
At this stage, we ensure that your neobank app meets the security standards of PCI and those set by your partner bank. We uphold your app's privacy and security by implementing AES encryption, utilizing compliant third-party services, and establishing reliable API connections through OAuth 2.0 and OpenID Connect.
06
Design UI/UX
Our skilled create the product design for the final product based on the MVP results, users feedback and apply best UI/UX design practices. Once finalized, our frontend engineers implement these designs in your app using existing libraries.
07
Develop a Neobank app
We finally put together all ideas, prototypes, and designs into code. Our developers build a strong backend infrastructure with efficient data management, seamless integration of BaaS services, and security protocols. We also future-proof your app with scalable cloud architecture.
08
Test a Software
We conduct both manual and automated tests on your app before launch. Our team confirms that the features and the entire system function as intended via unit and integration tests. We also simulate attacks to assess your neobank’s app security, check documentation, and perform compliance audits to ensure adherence to industry standards.
09
Launch
After thorough testing, our team finally deploys your neobank app and integrates it with your existing data sources and systems. We also set up the necessary APIs, manage the requirements for the Google Play Store and Apple App Store, and optimize its performance to guarantee a smooth user experience from day one.
10
Maintain and Support
Once we’ve successfully deployed your neobank app, we stay in close touch to assist you in its maintenance and troubleshooting. Our team will provide your app with regular security updates, feedback-based optimizations, and performance boosts. We will also adapt your app to changing regulations to maintain compliance.
Why Choose Uptech for Neobank App Development
We deliver high-performance, scalable solutions that offer the security and robustness needed in fintech products. See the benefits of working with a leading neobank app development company like Uptech.
Security Is a Top
Priority
Users prioritize security when it comes to their finances. We take this seriously by ensuring that your app complies with PCI standards through biometric authentication, encryption protocols, and other security measures.
Product
Mindset
We don’t just write excellent code; we develop a complete product that adds real value. The Uptech team asks questions, suggests solutions, and conducts market research to help you create a neobank app that stands out in the industry.
Experts in Fintech
App Development
With over 8 years of experience in the software industry, we have a proven track record in fintech app development. Trust that our expert engineers are capable of creating innovative, secure, and lightning-fast neobank apps.
AI-Powered
Tech
Uptech is a leader in generative AI and machine learning. With AI, your neobank app benefits from easier customer support management, a simplified e-KYC process, and enhanced fraud detection powered by advanced analytics.
Control over
the Results
We provide you with a project manager who tracks progress, scope, and budget while staying in regular contact with you. We’re open to feedback during the development process, and we’ll adjust your project as needed to keep it on track.
Secure
Partnership
We strictly adhere to ISO 27001 in both our practices and the technologies we use. Our team employs NDAs, encryption protocols, and authentication systems to eliminate risks and keep your data secure at all times.
Tech Stack We Use
It takes the best people and the best tech to build neobank apps that stand out. Here’s the core tech stack we use.
Android App
Kotlin
Coroutines/RxJava
Dagger
Retrofit
Room
JUnit
Clean Architecture
iOS App
Swift
RxSwift
MVVM/Redux
XCTest
SnapshotTesting
Cross-platform Networks
React Native / Flutter (Dart, BLoC, Layered Architecture)
Cloud Providers
AWS IoT Core
Google Cloud
Protocols
MQTT
CoaP
Raw TCP
Modbus
OPC
M-Bus, and others
Choose Your Engagement Model
Dedicated Development Team
Hire a fully managed team, including ML experts, who work exclusively on your project. This model is best for long-term projects that require dedicated attention and expertise.
Pricing Model
Time & Material (T&M) with an option for a monthly retainer that allows for predictable budgeting and resource allocation.
Request a team
Request a team
Team
Extension
Augment your existing team with specialized ML professionals on an as-needed basis. Ideal for projects that require specific expertise or additional resources temporarily.
Pricing Model
Hourly rate, dependent on the level of expertise required and the duration of engagement.
Request a team
Request a team
Project-based
Model
Complete project handling from start to finish by our team of ML experts. Suitable for clients with defined project requirements and deadlines.
Pricing Model
Fixed price for projects with well-defined scope and deliverables or T&M for projects likely to evolve in scope.
Request a team
Request a team
Related Content on Neobank Software Development
FAQ
Have a question about neobank app development services? Maybe we can answer it here.
What is a neobank, and how is it different from a traditional bank?
Neobanks are digital-only banks that offer financial services through mobile apps and websites. Unlike traditional banks, neobanks typically offer lower fees, faster account opening, and more innovative monetization models like hybrid checking and saving accounts, credit-led services, and interchange fees.
How long does it take to develop a neobank app?
Development time mainly depends on the app’s complexity, design requirements, service integrations, and your team’s composition. We typically take an average of 3-5 months to develop a basic MVP of your neobank app and provide continuous enhancements after launch.
What are the key regulatory requirements for launching a neobank app?
You need to obtain a banking license before launching a neobank app or partner with a BaaS provider and a bank for licensing. Other requirements include compliance with data privacy laws like CCPA and GDPR, anti-money laundering protocols, and cybersecurity standards. Requirements vary by region.
What is the cost of developing a neobank app?
Developing a neobank app costs anywhere from $150,000 to $360,000 on average, depending on app complexity, team location, team size, hourly rates, and other requirements. More complicated apps mean longer development time, which translates to higher costs.
How do you ensure the security of financial data in a neobank app?
We implement security measures to comply with PCI DSS, including API security with OAuth 2.0 and OpenID Connect and real-time monitoring via AWS CloudTrail and Azure Security Center. We also follow ISO/FDIS 37003 standards to manage fraud risks effectively in a neobank app.
Can you integrate third-party APIs and services into a neobank app?
Definitely. Using gRPC and REST APIs, we integrate features like payment gateways, credit scoring, identity verification, and data analytics tools into your neobank app. We implement strict security protocols to safeguard your app’s data during API integration.
Do you sign NDA?
Yes. Our team always signs a non-disclosure agreement with our clients before providing any software development services, even during initial consultations.
Want to discuss your project?
Get a free consultation with our app developers and receive a project estimate today.
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Uptech is a trusted software development company
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projects delivered
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review rating on Clutch
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countries client coverage
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