Why Are FinTech Apps Important in This Pandemic?

The list of top 10 FinTech software development companies was based on the Clutch ratings. Some of these FinTech software developers are suitable for small-mid scale FinTech startups, while others are best for well-funded startups.

Why Are FinTech Apps Important in This Pandemic?
FinTech Applications

Finance app downloads spiked by 15% during the pandemic, with mobile fintech applications outperforming banks by a factor of up to 10.8x, according to figures from mobile analytics platform App Annie.

The report found that amid economic uncertainty, demand grew for finance apps across investing, banking, cash transfers and government aid. Finance apps were downloaded 4.6 billion times in 2020, with consumers spending 16.3 billion hours scanning their mobiles to check their finances.

Notably, users took to fintech apps with gusto, with fintech outperforming even the best banking apps by a factor of up to 10.8x. Investment and trading apps like Robinhood were among the top downloaded finance apps worldwide as many consumers took to day trading in the Covid era.

The report, commissioned by app marketing platform Liftoff, analyzed 57 billion ad impressions across 81 million clicks, 12 million app installs, and 20 million first-time events in 188 apps for the full 2020 calendar year

“Covid-19 and the ensuing financial uncertainty resulted in users spending massive amounts of time on finance apps throughout 2020, and more readily activating in-app, with rates up a third to 25.1%,” says Mark Ellis, CEO and co-founder of Liftoff. “With many exploring new financial interests, marketers may want to consider tactics that offer resources to nascent users, encouraging retention and increasing confidence in in-app actions.”

Top FinTech App Development Companies Across The Globe

1. Nimble AppGenie 

Founded in 2017, Nimble AppGenie is one of the fastest-growing FinTech software outsourcing companies in the United Kingdom. Since its inception, the company has been helping banking and financial institutions strengthen their IT infrastructure. The company has a team of 50+ developers with agility in their core to ensure timely delivery of projects.

The company has been rated 5 out of 5 by its customers on Clutch. In addition to FinTech, the company has also fueled tech transformation in several other industries, including Education, Healthcare, and Transportation & Logistics. The Digital Bank of Africa (Dafri), Medu4, CUT Wallet, Pearl Cab, Curvacious, and DRT are among the top clients of Nimble AppGenie. Their portfolio indicates that apart from helping FinTech startups, they’ve also helped established traditional banks and financial institutions achieve digital transformation.

2. Unanet 

Organizing a project is no easy feat, but Unanet is simplifying the process with its project management platform. The platform enables professionals to track finances, automate repetitive tasks, analyze data, and make informed business decisions. The company provides government contractors, architects, engineers, and construction workers with numerous ways to streamline their workflows and allocate resources where they’re needed most. 

3. Argyle

Accessing employee information can be a tedious process, but Argyle is removing the red tape and providing a more streamlined approach. The company has developed a set of tools that allows employees to instantly connect their information to a single application. Now employees can verify their income, change their direct deposit option, and pay off loans with a few quick taps. 

4. Chime

Chime is a pioneering mobile bank that offers no-fee and automatic savings accounts as well as early payday via direct deposit. With over one million opened accounts, Chime is reportedly one of the fastest growing banks in the United States.

5. Coinbase

Coinbase is an online platform for buying, selling and managing digital currency that provides users with secure mobile access to their digital assets. Coinbase supports 32 countries and has exchanged more than $150 billion in various forms of digital currency, including Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

6. Optiver

Headquartered in Amsterdam, but with a large presence in Chicago, Optiver, is a trading firm focused on “market making”. Not only does the company facilitate the buying and selling of stocks, bonds, futures, options, etc., but it also builds markets and provides extra liquidity to exchanges all over the world.

7. Varo Bank

Varo Money is a digital consumer bank using its digital app and other fintech tools to help users get a more complete look into their finances. The digital-first company offers both checking and savings accounts, which can be accessed through their fully transparent app. The app gives users insights into spending habits and even allows for instant money transfers. There isn’t a minimum balance required to receive a Varo debit card, and there are zero fees for overdrafts, foreign transactions or transfers.

8. Verifi

Verifi offers payment protection solutions and risk management services for companies of all sizes across multiple industries. The company's platform lets cardholders, issuers and merchants access real-time data that provides quicker resolutions. Verifi also helps companies fight and stop chargebacks, securely process payments, battle fraud and increase billings.

9. RobinHood

Robinhood is an investment application that allows users to invest for free from a desktop or mobile device. Because there are no physical locations or individual account management services, Robinhood aims to make investing accessible to would-be traders who can’t quite swing the fees of a traditional brokerage house.

10. Sofi

SoFi provides refinancing, loan and wealth management services. In assessing a user's rates and determining the likelihood of loan repayment, the digital company's algorithm takes into account factors beyond income and credit history. Things like education, career and estimated cash flow are also part of the mix. In addition, SoFi offers benefits for which most institutions charge extra or require large balances, including career services, unemployment protection and financial advising.


The list of top 10 FinTech app development companies was based on the Clutch ratings. Some of these FinTech app developers are suitable for small-mid scale FinTech startups, while others are best for well-funded startups.

If you’re looking for a suitable Fintech software development company for your FinTech startup, feel free to reach out to any of the listed companies. You can pick among them based on your budget. However, there are several other criteria you need to consider before you pick a software development company. I’ve recently written an article on the same topic, which you can read here – How to Find the Right Mobile App Development Company?