Banking Software Development
Expert software development for your Banking business
TRUSTED BY LEADING COMPANIES
Leading Banking Software Development in Nottingham.
Let Us Grow Your Banking Business!
SovTech is an award-winning custom software development company that offers end-to-end development of enterprise software, uniquely tailored to your industry. Our 10 years of engineering experience, along with over 150 tech professionals allows us to build you an expertly crafted piece of custom software. As leaders in Banking Software Development in Nottingham, we develop custom software that has helped our Banking clients to start, run and grow world-class businesses. Let us do the same for your Banking Business!
Why Should You Digitise Your Banking Business?
The era of digital transformation has already come to an end. We’re no longer at a transitional stage. We have reached the point where most businesses are already digitised. Business owners have realised that by introducing technology into their processes, they can easily reach the right target audience, market their products faster, and offer a significantly improved user experience. Digitisation is integrated into every aspect of businesses and provokes positive fundamental changes in how companies operate, and how they deliver value to their customers. If you haven’t already, now is the time to digitise and to grow your Banking business! Contact us for world-class custom Banking Software Development in Nottingham.
We have the perfect blend of aesthetic and technical skills to deliver sophisticated and user-centric mobile apps. Our app developers provide bespoke android app development and iOS mobile app development services.
We are a web development company with expertise in both web frontend and backend. We design, build and maintain the server, database and technology that powers the components which enable the user-facing side of your website to exist.
Some Of Our Expertly Built Software Developments
Why Choose SovTech For Your
Banking Software Development in Nottingham?
With 10 years of experience, SovTech is a global leader in Banking software development in Nottingham.
We are experts in custom software development. We boast a brilliant team of elite software developers, designers and engineers, and are proud of the awards we have to show for it. We proudly exist in 5 global offices.
At SovTech, we are proud of the work we do. We love all things software development, and believe that our genuine passion is clear in our work.
We always strive for greatness and thus, spend time polishing every detail of your custom software development until it is flawless and inline with our standards of perfection. We are leaders in Banking Software Development in Nottingham.
We know that your bespoke software is a reflection of your business, and that your users should be at the forefront of the development process.
We focus on your customer’s needs first, and this ensures that what we create works. If you choose to get your Banking Software Development in Nottingham done with us, you can rest assured that your custom software will beat the competition!
Banking Software Development in Nottingham
For Any Business
Small businesses require scalable software solutions in order to expand their market. We provide excellent Banking software development in Nottingham to our clients for the ultimate scalability of their SMEs and bootstrapped startups. We rapidly create bespoke software for funded start-ups. Whether you are looking to launch your software as a product or to add a new digital channel to your existing customer experience, SovTech is your trusted industry expert in Banking software development in Nottingham.
We create high-quality bespoke software to match your company's needs. We understand your requirements, allowing us to further strengthen your business. SovTech ensures that your custom software is authentic and solves complex business problems. We commit to business consultations, Banking design, a thorough quality assurance process, and maintenance. Our software developments have helped Blue chip clients from all over the world to achieve their business goals.
Our Banking Software Development in Nottingham
Our software developers pay special attention to detail when it comes to the development of any software project, where we consider and analyse everything we think is important. This ensures that we get things done on time and within budget.
Our app developers value optimised images while creating apps for internet users. Specifically sized images enhance the user experience. The UI elements should be easy for the user to tap on and menus should have options that are easy to find for the convenience of the user.
For both Android and iOS devices, numerous screen sizes are available. Our apps are compatible with the designated screen size, resolutions, and forms. Our Android app development and iOS app development teams make sure that your mobile app development is perfectly executed.
For both Android and iOS devices, numerous screen sizes are available. Our apps are compatible with the designated screen size, resolutions, and forms.
High-performing mobile apps are of utmost importance to SovTech. Our software maintenance teams maintain your application so that the user experience is always considered and never compromised.
Our Tech Stack
We Speak These Languages
Banking Software Development in Nottingham With SovTech
Nottingham is a large English city in Nottinghamshire in the East Midlands region of the UK. Nottingham is one of the UK’s six Science Cities, thanks to its innovative research and businesses in the field, and it is increasingly popular with health tech startups too.
What is the Banking Industry?
The banking industry includes systems of financial institutions called banks that help people store and use their money. Banks offer clients the opportunity to open accounts for different purposes, like saving or investing their money. The banking industry is also valuable to the economy, as it provides resources for individuals, families and organisations to use for transactions and investments. One way that the banking industry does this is by organising and distributing loans for applicants that they can use for purposes like purchasing property, starting a business or financing a college education.
How Technology is Affecting the Banking Industry?
The banking and financial industry has seen tremendous transformations in the technology landscape over the few decades. The customer’s expectation has moved towards Omnichannel platforms and the usage of gadgets and virtual assistants like Google Home, Alexa from Amazon, and Siri from Apple. The usage of wearables have increased significantly, aligned towards the latest technology.
Technology Trends Shaping The Banking Industry
Banks can migrate their existing applications (core banking/ risk management applications/ digital banking offerings) to a cloud environment as part of their IT road map.
Banks would achieve the following benefits as part of IT application migrating to a cloud environment:
- Data security & data privacy play a key role, as banks have critical customer financial data and transactions as part of their service offerings to their clients. Cloud providers ensure that financial and non-financial data stored in the cloud environment are highly secured and tamper-proof in nature.
- Meeting compliance regulation: Banks / FIs want to ensure customer data in the cloud are stored as per the central bank regulatory framework. Every cloud solution provider like AWS, Microsoft Azure, and Google Cloud will ensure that data is stored as per regulatory requirement in the cloud, taking into account the regulations of a country. For example, as per GDPR, there are separate cloud data centres maintained within Europe to store data in the cloud to meet the EU compliance & regulatory requirements.
Cloud banking is the future technology that banks & Finance Institutions would like to adopt. This is mainly because of the fact that banks want to reduce costs and offer better product & service offerings across the retail & corporate banking segments.
Faster-to-market with new product launches will be a key differentiating factor in the cloud banking space, with the help of API’s integration, which can be easily integrated with another ecosystem or fintech company in quick time. Enterprise level support will be the key differentiating factor in cloud banking, as data across the group level can be integrated and offered as services to its customer.
According to the IT road map, banks can decide the products and data, which need to be on cloud and premise and deploy the solution accordingly. Moreover, banks can decide the storage of data in public, private cloud or hybrid cloud as per the business decision.
This can further help banks meet the regulatory and compliance framework levied by the central bank / regulatory authorities. Like GDPR in European countries or CCPA regulation in California State, US, banks need to adhere to specific regulations and store data accordingly in the respective geo locations.
Bank & FIs would like to leverage technology and pay only for services offered by the product / software vendors. This will be the emerging trend in the coming days. Going forward, banks will reap the following benefits with BPaas.
- Reduces software licence and product cost
- Reduces cost of operation in maintenance of data centre
- Pay for service offered by the product / software vendors, based on the transaction volume or user-based licences as per the agreements
- Bank can go live to any geography with pre-configured products offered by the vendor to start with
- Meeting regulatory and compliance standards, based on central bank regulations.
The banking and financial sector has been under tremendous pressure with financial data breaches / crimes in the course of many years. Cyber security plays a key role, as banks offer a majority of their services via Omnichannel platforms and transaction processing via different payment networks across the globe.
Banks expect to have an endpoint security solution to overcome data breaches over external networks / payment gateways. This will ensure that financial data is not tampered with malicious code / data breaches as part of transaction processing.
For commercial banks, there are innovative technologies developed on cyber security such as multi-factor authentication and virtual reality with the help of facial recognition. Apart from such measures, banks implement firewalls and anti-malware applications to prevent data breaches.
With the help of AI / ML (Artificial Intelligence / Machine Learning) technology solutions banks can perform security and system audits to identify suspected / fraudulent transactions. AI / ML will help banks to analyse the weakness area in the existing application and build more security.
Instant payment is the new emerging trend in the payment space for banks and FIs. This trend will help the customer to leverage technology and process the payment instantly without compromising on transaction security.
Banks and market participants will have a level playing field with more integration towards third party Fintech / Regtech companies to offer instant payment service and meet the regulatory standards of the central bank.
Full-Stack Software Development
At SovTech, we are experts at full-stack software development. Full-stack software development is the development of both client-side and server-side of a software application. It combines both front-end and back-end development, producing the web face for users, as well as the server, database and technology that powers the components which enable the user-facing side of your website to exist. We are experts in full-stack Banking software development in Nottingham.
Agile Software Development
At SovTech, our software developers use agile development methodologies to produce software applications for clients. This process is centred round the idea of iterative development, where requirements and solutions evolve through collaboration between self-organizing cross-functional teams. Agile processes promote frequent inspection and adaptation, and is intended to allow for rapid delivery of high-quality software.
Agile vs Waterfall Software Development
Waterfall is a Linear Sequential Lifecycle Model whereas The Agile Methodology is a continuous iteration of development and testing in the software development process. Agile allows changes in project development requirement whereas Waterfall has no scope of changing the requirements once the project development starts.
Web Apps vs Mobile Apps
The difference between these two types of applications is that web apps require an active internet connection in order to function, whereas mobile apps can be downloaded and can often function while offline.
What We Will Do For Your Business
SovTech will walk your custom software journey with you to ensure that you get only the best Banking software development in Nottingham.
We pride ourselves on our expertise in developing applications for any industry. We are here to become your expert partner in solving complex problems.
- Streamline internal processes.
- Digitise aspects of your business, or your business as a whole.
- Build your custom software development.
- Rebuild and rescue your existing developments.
- Automate manual systems.
- Maintain and scale your software.
- Connect employees with software.
Hear It From Our Clients
SovTech has been extremely efficient right from the start. The team is friendly, helpful and knowledgeable. I’ve been more than pleased with the service.
I have been very impressed with SovTech on a global level, having worked on many varied projects with dev teams around the world… The level of detail and design excellence they provided was very impressive. SovTech’s approach is one of professionalism, efficiency, expertise and deep consideration for each project.
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