Financial Services

Digital transformation and custom software solutions to improve customer experience and guide your customers’ financial wellbeing

Why innovate in fintech & financial services?

Customer expectations are evolving rapidly and reshaping all facets of banking and financial services. Gaining a clear understanding of your customers’ diverse needs can help you navigate changes in behavior, keep up with fintech developments, and deliver high quality, top notch experiences.

The interplay between fintech and traditional financial services is increasingly complex, with both sectors learning from and influencing each other. While fintech has been bringing fresh perspectives and agility to innovation, the traditional financial industry contributes a depth of experience and resources. This dynamic is driving a more inclusive, and customer-focused financial landscape.

The opportunity for design and digital fintech software development teams goes beyond improving the aesthetics of products. Fundamentally reshaping the way financial products and services are delivered and experienced, leads to increased adoption, customer satisfaction, and loyalty.

Disruptive Trends in Financial Services

Balancing Personalization at Scale Against UX Overload

By leveraging technologies like artificial intelligence (AI) and machine learning, personalized financial advice is increasingly being offered to customers and users. While customized guidance and recommendations can enhance user experience, there's a thin line between useful personalization and overwhelming users with too much information, functionality or choices. Knowing key user experience tipping points help prepare and design for such circumstances.

Neobanks and Sustainable Finance Practices

Digital-only banks, or neobanks, offer traditional banking services without any physical presence. They depend on mobile apps and online platforms to deliver offerings to their customers and users, enabling lower fees, higher convenience, and low carbon footprints. With a growing user demand for sustainable and ethical financial practices, such innovative offerings and digital solutions are redefining the tools and platforms used for financial transactions.

Democratization and Transparency Enabled Through Blockchain

Decentralized finance represents a shift from traditional, centralized financial systems to peer-to-peer finance enabled by blockchain technology. In addition to democratization of finance, blockchain has also enabled more secure financial services through identity authentication, sound supply chain management, and smart contracts. This heightened transparency across the whole ecosystem of financial transactions is helping boost user trust and adoption.

Integration and Interoperability For Open Banking and Embedded Finance

A growing movement for open banking and open APIs enables third-party software development partners to build banking software applications and services. Further, embedded finance supports non-financial companies offering financial services (like integrated payment gateways) directly within their platforms. Together, these two trends are boosting accessibility and seamless user experiences. But designing for integration and interoperability requires thoughtful design and a systems-level view.

Why Highland?

With over 25 years of experience offering financial software development services, we know what it takes to get new fintech products and ventures to market. We help established financial institutions transform their customer experience through core digital transformation and innovative new offerings.

We’ve worked with:

  • Banking
  • Wealth management and investment firms
  • Life insurance and annuity firms
  • Fintech companies and startups.

We know how dynamic and multilayered fintech solutions can be, how hard it is to overhaul regulated and traditional financial services, but also, how important it is to work towards innovative financial software solutions that result in inclusive, efficient, integrated and user-friendly design.

Highlanders sitting around a table.

Frequently Asked Questions

What are the challenges in fintech software development?

What type of services do you offer as a financial software development company?

How do financial software development companies ensure big data security, regulatory compliance and risk management?

Why should businesses consider outsourcing application development to a third party?

Let's Talk
Tell us about the opportunity you're pursuing, and we'll follow up in one business day. If you prefer, you can email ask@highlandsolutions.com.