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How Much Does It Cost to Develop a Fintech App Like Revolut?

App Development

03
Jul 2024
109 Views 8 Minute Read
cost to develop an app like revolut

In a world where everything's digital, your money is one more thing that's gone digital as a part of the FinTech industry. The banking and financial services sector has experienced many revolutionary solutions in the form of apps and websites that help you manage your finances. The fintech industry has had some remarkable solutions, but one of them which stands out the most is Revolut. With its comprehensive financial features and friendly user interface, it's beloved by many in this rapidly evolving financial landscape where managing your finances is such a toll.

But if you're thinking about investing in a FinTech app development company, you must be wondering about the cost of developing a FinTech app similar to Revolut. Building such a complex finance-based app needs a meticulous level of planning, an open-minded perspective of the industry's needs, and a significant investment. This blog dives into all the cost factors, and potential features, and renders a ballpark estimate for all your mobile app development frameworks. Let's start by learning what Revolut is.

What is Revolut?

Revolut is a UK-based FinTech company that provides a bunch of banking services within a holistic mobile application. Since its inception in 2015, they have provided a bundle of facilities like international money transfers, tools for budgeting, peer-to-peer payments, and currency exchange. Revolut fosters its users to preserve and swap multiple currencies at competitive rates, oversee spending with meticulous analytics, and get access to different finance-related products such as insurance and cryptocurrency trading. Their innovative approach to conventional banking hasn't just boosted convenience but has also fostered cost savings along with a user-friendly digital platform.

Factors Affecting Cost to Build a Fintech App Like Revolut

The cost of developing a fintech app similar to Revolut heavily depends upon a variety of factors. Even though pricing is a crucial determinant factor, it's important to remember that developing successful finance and banking industry apps is so much more than investment. Let's understand them to comprehend their influence on development:

  • Complexity of Application

The first factor determinant in the cost to develop an app like Revolut is the product’s complexity. Standard MVP apps will cost way less than a feature-loaded solution to produce. Complex platforms lead to a much higher cost of development due to addition of fancy elements like several currency accounts, options for multi-tier investing, tools for budgeting, or AI-powered chatbots for optimizing your personal finance.

  • Location of Development Team

The cost to build an app like Revolut might be influenced by many factors but another primary factor is the location of your development team and its total strength. Before you approach any professional, expert Fintech app developers for your Fintech app development services, consider other hiring modules, such as hourly, weekly, or monthly, for a more specific pricing estimation. This strategy will lend substantial credibility to the development process due to the opened-up avenues of experienced professionals chiming in, speeding up development processes, and enhancing efficiency. However, remember the price changes per country, hence, assess them beforehand.

  • Integrations of Third-party Solutions

Even the most expert Fintech app developers will tell you that FinTech apps frequently require integration with APIs for payment processing, storing information, or verifying profiles. The complexity of each integration layer increases with every use, hence, it must be tested to confirm optimality and data security. Such connections result in greater costs than one solution on both platforms.

  • UI/UX Design

When you're building an app for the finance and banking industry, it has to be visually appealing and engaging for your target audience. The level of precision and semi-automated procedures has to be developed by incorporating crisp user interfaces and navigation. Hence, consider hiring a skilled team of dedicated developers who have in-depth knowledge of the right tech stack and hold mastery in UX/UI, testing and development prototypes, and collecting user feedback to keep design updates ongoing. Consider factors such as the level of usability and engagement, and decide on the design placements.

  • Compliance and Security Standards

In the world of fintech, app development services meet all legal compliances and stringent security measures. Adhering to compliance with all regional data protection laws, financial regulations, and other global industry standards leads to many other cost changes but is needed to ensure stakeholder confidence and prevent legal motions.

  • Type of Platform

Several variables influence the iOS, Android, and cross-platform application development costs of developing a fintech app like Revolut. However, picking the appropriate platform and the right tech stack is critical to deciding the timeline. Constructing a native application for a platform where individuals are likely to merge is a completely separate architecture; nevertheless, cross-platform solutions are less costly, although with crude functionality and experience.

  • Tech Stack

In order to develop a FinTech platform like Revolut, selecting the right tech stack, mobile app development frameworks, and data analytics services, tools, and libraries, determines the overall cost of creating an app like Revolut. Choosing the right tech stack enhances the application speed, makes it scalable, increases security, and greatly improves user experience, hence, justifying the development effort and expenses.

  • Ongoing Support

Even the most premiumly curated fintech app, similar to Revolut, needs constant upkeep to ensure optimal functionality. Apart from delivering the desired benefit, it helps fix bugs, detect vulnerabilities, install the latest security or feature updates, track performance metrics, and integrate modern capabilities. Persistent improvement is needed to satisfy the ever-changing demands of the app's users, which boosts expenditures.

  • Quality Assurance

QA, or quality assurance, helps guarantee that the final product to be delivered or marketed meets all specified quality checks in terms of reliability, safety, usage, and performance. QA activities involve a complete program examination using different scenario testing on several platforms and devices to discover potential flaws before they're launched or integrated. Even though this stage increases the cost to create an app like Revolut, the end benefits of receiving a high-quality product make it worth it.

Must-Have Features for Fintech App Development like Revolut

When developing a fintech app similar to Revolut, it's vital to integrate features that will simplify the users' overall financial management. For ensuring the financial well-being of your users, Revolut app transformed the entire banking process with its unique customer-centric approach, and creating a similar FinTech app for your region shall provide the same experience. Some essential features you can consider are:

1) Multi-currency Accounts and Exchange

This feature helps users to hold and exchange different types of currencies comfortably from anywhere. Incorporating this requires merger with foreign exchange (forex) services and updates on the real-time currency rate. For a standard version of your fintech app similar to Revolut, users can exchange many major and popular currencies, while a feature loaded advanced solution, could render a much more wider range of currencies, and even detect potential trading functionalities.

2) International Money Transfers

This feature helps you facilitate quick and cost-effective money transfers overseas. It could involve incorporating international money transfer services or curating your network of partner banks for custom access. Generic money transfers could be limited to specific countries, but advanced Fintech app development services could integrate multiple transfer options like instant money transfer, lower transaction charges, and can be transferred to unlimited global destinations.

3) Managing Debit Cards

Allow consumers to control their debit cards by providing options like freezing/unfreezing, capping spending via restriction limits, and monitoring transactions. This means collaborating or partnering with a card issuer and developing a secure methodology for managing user card data. A standard app can render basic on/off functionality and previous transaction records but an advanced plus complex app could provide category-specific spending limitations, live push notifications on spending, and curating digital accounts and cards.

4) Budgeting Tools

Include features designed to help consumers oversee their spending and establish monetary objectives. This can incorporate functions such as spending categorization, income monitoring, planning a budget, and establishing objectives with performance mapping. A simple app may just give rudimentary spending evaluations, but a more complex app could come with capabilities such as automatic expense classification, income-based financial management, and customized insights into finances.

5) Investment Choices

Enable investment choices like commodities (subject to restrictions), cryptocurrency, or equities. This level of integration needs collaboration with top investing platforms or developing your custom in-house brokerage solution. Your generic app can help in limited options for stock investments, but an advanced application will provide a much more wider range of options for investments, plus fancy features like AI-driven advisory features, fractional shares, along with the capability to invest in different assets depending on regional rules and regulations.

6) Security and Compliance

You will need the help of expert Fintech app developers to deeply understand and employ strong security measures for following best practices and meet banking and financial services industry standards. This encompasses secure login methods, two-factor authentication, data encryption, and adherence to financial requirements like Anti-Money Laundering (AML) and Know Your Customer (KYC). All styles of applications simple and complex alike need robust security measures, although advanced solutions might need extra compliance components depending on the amount of investment alternatives obtainable.

Cost To Create An App Like Revolut

The cost to create an app like Revolut consists of many processes that encompass factors influencing the cost of developing a fintech app similar to Revolut. Let's break down the price into 3 styles of app categories:

  • MVP (Minimum Viable Product) Basic App

This level of an app like Revolut mainly focuses on core features such as rudimentary money transfers, uncomplicated budgeting tools, multi-currency accounts, user registration and authentication, and debit card management. It's functional and not overly sophisticated, with not much investment into custom UI/UX designing, and basic customer support could range anywhere from $45,000 to $150,000.

  • Moderate App

This level of app mainly builds upon the MVP and is suitable for pre-established businesses having clarity over their target market and some advanced options such as more ample money transfer choices, comprehensive tools for budgeting, improved account management with brief transaction statements, analytics tools, a polished UI/UX, custom animations, in-app chatting, and other verification solutions like biometric authentication. Such a level of moderate app development ranges from $150,000 to $350,000.

  • Advanced Fintech App

This is the ultimate level that could get you pretty close to actually developing a FinTech platform like Revolut. It includes a comprehensive suite of features, targets a massive user base, and also needs substantial backing and a development team with in-depth FinTech expertise. Building on your moderate app, it includes multiple finance and banking industry solutions like- real-time notifications, international money transfers, crypto and stock trading, loans, virtual and physical card management, AI-based financial recommendations, multi-factor and biometric authentication, and global financial regulation compliance. It boasts modern, sophisticated, seamless customer support and automated help desk solutions that range from $350,000 to $800,000.

Conclusion

Developing a fintech app similar to Revolut sets you on a path of growth and success in the banking and financial services sectors. With the correct approach, strategy, and development team, you can turn your app vision into a reality. This highly rewarding venture also requires a substantial initial investment along with an in-depth understanding of the fintech landscape and banking industry, in addition to determining the cost of developing a fintech app similar to Revolut. Identifying the essential features and aspects that influence development expenses serves as vital for good financial and planning decisions.

If you plan a proper development process, prioritize security, compliance, and have an unwavering commitment to delivering value for customers, your FinTech platform like Revolut can become a global pioneer and leader in the world of digital finance. Whether you wish to develop a mainstream app or a feature-rich solution, prioritizing user convenience will help you confirm the app's success in the competitive market of fintech. It's highly advisable to consult with a leading Fintech app development company, such as Hyperlink InfoSystem. Their expertise and proven track record in delivering top-notch Fintech app development services make them a leader in the market. Connect with us for all your finance app development needs to get a custom proposal.

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Frequently Asked Questions

The reality is that the cost of developing a fintech app similar to Revolut is highly dependent on the specifications of your project. These things include the type of application, aspects, and elements of design in addition to other complex features. The average estimation of developing an app similar to Revolut could range from anywhere between $55,000 to $700,000 or even more.


The overall timeline to develop a FinTech platform like Revolut could easily take up to anywhere from 4 months to over a year, depending on factors like customization, third-party integrations, feature incorporations, and the strength of your development team. Developing a completely functional app in the FinTech domain will vary in your desired solution implementation; hence, it's advisable to connect with a leading Fintech app development company such as Hyperlink InfoSystem to understand the protocols behind it.


In order to develop a FinTech platform like Revolut, here is what you need to follow:

  • Conduct thorough market and competitive research
  • Assemble your development team based on the requirement
  • Define your complete MVP scope for your FinTech app
  • Choose a modern technology stack that's relevant to your niche
  • Illustrate your general functionality APIs
  • Collaborate with UX/UI designers to portray the app's interface
  • Conduct testing and ensure quality
  • Keep your application updated


The cost of developing a fintech app similar to Revolut also delivers a plethora of benefits for adequate ROI, such as:

  • Better financial convenience
  • Enhanced security
  • Increased level of efficiency
  • Data-driven decision making


More than the cost of developing a fintech app similar to Revolut such as interaction with third-party systems, scalability options, security concerns, and regulatory compliance. To overcome these issues, you should be proficient with regulatory frameworks, and integrating powerful security measures, and designing future-proof scalable solutions.


Harnil Oza is the CEO & Founder of Hyperlink InfoSystem. With a passion for technology and an immaculate drive for entrepreneurship, Harnil has propelled Hyperlink InfoSystem to become a global pioneer in the world of innovative IT solutions. His exceptional leadership has inspired a multiverse of tech enthusiasts and also enabled thriving business expansion. His vision has helped the company achieve widespread respect for its remarkable track record of delivering beautifully constructed mobile apps, websites, and other products using every emerging technology. Outside his duties at Hyperlink InfoSystem, Harnil has earned a reputation for his conceptual leadership and initiatives in the tech industry. He is driven to impart expertise and insights to the forthcoming cohort of tech innovators. Harnil continues to champion growth, quality, and client satisfaction by fostering innovation and collaboration.

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