5 Must-Know Software Development Aspects for Every Fintech Startup
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5 Must-Know Software Development Aspects for Every Fintech Startup

Just like any other business, software development is critical to Fintech. Even a minor error can lead to long-term consequences. So, it is necessary to implement high-quality solutions with zero errors in fintech.    

Some may think that the technical aspects aren’t visible to users, so why spend money?  

The software development aspects may not directly but indirectly affect your users. For instance, it will start by affecting their ease of use, resilience, performance, and in the end, their retention. 

Software Architecture 

For a project launch to be successful, you must have a balanced architecture. Therefore, while starting MVP development, you need to do two things. The first thing you need to do is prepare in advance for your future project growth. Secondly, define the software architecture depending on the long-term goals of your project. 

Neither under-engineering nor overengineering is going to offer you results. Under-engineering can limit the scalability and functionality of your software while overengineering can lead to budget overruns. These factors are unfavorable for a startup to survive.  

So, ask your development team not to design infrastructure that might be useful in the distant future. It will only add up to your maintenance and development costs.  


Fintech apps are always at risk of breach. Therefore, you must not take security aspects lightly. Similarly, you must also pay attention to 24/7 monitoring, extra verification steps, extended logging, and automated blocking of suspicious activities. 

A good fintech app should strictly abide by data encryption and security requirements, thereby offering users a decent UI/UX.  

Regulation Compliance 

Every startup must understand that fintech solutions are vulnerable to fraud, sanctions evasion, and money laundering. So, your compliance strategy must be at the top of the list of fintech software requirements.  

All startups must take pen tests, do regular audits, look for security issues, and undertake certifications. Aside from that, they must also abide by announced regulations constantly. 


Your fintech projects must offer a straightforward solution to a user’s problem. These problems can either be related to improving the cost, speed, or process efficiency.  

Let’s take the example of PayPal. It used the email of recipients to introduce quick and easy payments. Similarly, Stripe added a few lines of code to solve the payment integration problem.  

Solving users’ problems faster will bring value to your business. Make sure that user flow doesn’t have any uncertainty or ambiguity. 

External Components 

A lot of ready-made external components are already available in the market, e.g., payment gateways, biometrics security, real-time analytics charts, etc. These come with increased quality and can help you to launch faster.  

Thus, reinvention isn’t needed but you must know where to place and adjust every wheel. Since frameworks and libraries cover varied use cases, you must adapt them for specific project requirements. 

In this way, you can ensure that a third-party component works at its full capacity. 


Whether your users are new or not, everyone expects the same satisfaction. As a startup, it should be your goal to offer them the same. Make sure to deliver a steady, straightforward flow while complying with industry standards. 

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