Financial Software Development
Expert software development for your Financial business
TRUSTED BY LEADING COMPANIES
Leading Financial Software Development in Birmingham.
Let Us Grow Your Financial 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 Financial Software Development in Birmingham, we develop custom software that has helped our Financial clients to start, run and grow world-class businesses. Let us do the same for your Financial Business!
Why Should You Digitise Your Financial 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 Financial business! Contact us for world-class custom Financial Software Development in Birmingham.
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
Financial Software Development in Birmingham?
With 10 years of experience, SovTech is a global leader in Financial software development in Birmingham.
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 Financial Software Development in Birmingham.
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 Financial Software Development in Birmingham done with us, you can rest assured that your custom software will beat the competition!
Financial Software Development in Birmingham
For Any Business
Small businesses require scalable software solutions in order to expand their market. We provide excellent Financial software development in Birmingham 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 Financial software development in Birmingham.
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, architecture 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 Financial Software Development in Birmingham
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
Financial Software Development in Birmingham With SovTech
Birmingham is the largest city of the West Midlands, England, and one of England’s principal industrial and commercial areas. Birmingham’s tech ecosystem has been on the rise for the past few years, with specific educational initiatives and funding opportunities pushing the community forward. TechBirmingham, an 18-year-old association, is on a mission to raise the profile of Birmingham and the West Midlands and establish the region as an international tech hub and destination. According to Tech Nation, an average of over 500 tech start-ups are founded annually in Birmingham, with the rise showing no sign of stopping. With reportedly more software developers in Birmingham now than in any other regional city, it is fast becoming the largest tech hub outside of London.
What is the Financial Industry?
The financial services sector provides financial services to people and corporations. This segment of the economy is made up of a variety of financial firms including banks, investment houses, lenders, finance companies, real estate brokers, and insurance companies. As noted above, the financial services industry is probably the most important sector of the economy, leading the world in terms of earnings and equity market capitalization. Large conglomerates dominate this sector, but it also includes a diverse range of smaller companies.
How Technology is Affecting the Financial Industry?
Progressive financial services companies are on the lookout for new technologies to improve efficiency and speed of service, as well as provide better customer experience. Exponential growth in information technology has prompted companies to leverage digitization of banking technology to transform the financial services industry through customer experience management. The financial services industry is looking at improving online customer service enabled by competition with consumer brands like Amazon, Facebook, and Google. Importantly, most financial services executives feel improving the customer experience to be the top driver of digitization in banking.
Technology Trends Shaping The Financial Industry
The present operating model might serve well to banks, it might not work right with modern third-party services. These systems are difficult to respond to the intricate demands of modern finances, including the collection of volumetric amounts of data. Even after integrating them with leading-edge software, they consume a lot of time and slow down the development of digital products.
As an industry that is constantly upgrading, financial institutes need to embrace the latest techs to keep up with FinTech companies. With the state-of-the-art technologies at its side, the finance industry can achieve a considerable productivity boost in its day-to-day operations. It enables them to streamline processes, optimise resources, and reduce the burden on IT operations.
Though legacy modernization requires an initial investment, the cost of maintaining the new software and hardware is relatively lower than the legacy systems. A quick insight into iLink’s approach to Technology Modernization.
Customer Intelligence and the ability to act in real-time is one of the key trends affecting the financial service industry. It is responsible to drive revenue and profitability more directly to the financial organisation. With the help of Big Data and AI, marketing experts can easily process data and derive insights to deliver a personalised experience to their customers.
All they need is a smart balance of humans and machines. Powerful data analytics technology helps banks to understand their customer’s goals and priorities. Banks can then work on their offerings and services to best suit their customers and create stronger marketing ROI.
In addition to improvements in revenue, personalization increases conversion rates, improves cross-channel offerings, and develops a loyal customer base. At last, by creating a tailored experience to serve customers’ unique financial needs, banks gain a competitive edge in the market.
The Internet of Things has become one of the major technologies being used in the financial service industry. An interconnected network of devices allows them to automate important business processes, communicate with each other and share information. IoT applications can handle financial requests, transfer ownership of a specific asset, and even carry out other processes remotely.
Financial institutes with connected architecture can easily balance control and accessibility. With the help of IoT applications, they can gather customer data, analyse it and predict customer needs and requirements. Also, it enables higher security, better energy efficiency, and greater profitability.
Over the last decade, banks and financial institutions are reported to have spent more than $321 billion on compliance operations as well as fines.1 The banks are estimated to disburse nearly $270 billion yearly, just on compliance operations.2 This means almost more than 10% of a bank’s operating cost is attributed to compliance costs.3
Rising operating costs means slow bank processes, poor compliance management, and an unsatisfactory customer experience. Besides, cutting down operational expenses is not the answer. RPA, also known as Robotic Process Automation, enables banks and financial companies to save both time and money.
It automates all the manual processes such as customer onboarding, verification, risk assessments, security checks, etc that usually require a workforce to complete. It also mitigates errors allowing companies to increase operational efficiency, improve accuracy, and stay relevant and competitive in an evolving finance automation market.
The primary aim of RPA in the banking industry is to assist them in tasks that are repetitive in nature. With the rise of AI, RPA systems can observe and learn the workflows increasing productivity within the workplace and establish financial institutions a little nearer to the new age FinTech services.
Cybersecurity holds a critical value for banks and financial institutes since they deal in billions of digital transactions. IBM estimates the average cost of a data breach in the financial service sector was US$5.85 million compared to US$3.86 million across respondents in all sectors in its survey.4
On top of that, many financial institutes still rely on the old security models that can be easily breached. Unfortunately, cyber threats are likely to escalate in the coming years with the advances in technology. To be sure, the financial service industry needs more qualified anti-fraud systems to safeguard against internal threats and third-party risks.
Combination of keycodes, Voice ID, two-factor authentication, one-time passcodes, behavioural analysis, digital fingerprinting, and protective messaging are some of the widely integrated security methods. But the real problem lies in locating vulnerabilities in the first place. Hence cyber resiliency needs to be sharp, effective, and thorough.
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 Financial software development in Birmingham.
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 Financial software development in Birmingham.
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.
Get a custom software development quote now
Book a call with our sales team to get started on building your custom Financial software development in Birmingham.