How Much Does It Cost To Develop A Digital Banking App In 2025?

How Much Does It Cost to Create a Digital Banking App?

Digital banking apps are transforming financial services, offering secure and convenient options for users. The cost to develop one ranges from $25K to over $300K, depending on the complexity of features like budgeting tools, real-time notifications, and payment integrations. Choosing the right platform (iOS, Android, or both) is crucial in determining the budget.

---

Factors Influencing Banking App Development Costs

• Platform Choice: iOS, Android, or both.
• Features Required: Basic transactions, advanced analytics, or blockchain integration.
• Design Complexity: User-friendly and appealing UI/UX design.
• Technology Stack: Use of advanced tech like AI or APIs.
• Location of Developers: Development costs vary significantly by region.
• Security Features: Implementing high-level encryption and compliance measures.

---

Digital Banking App Cost Insights for 2025

• Basic App: $25,000–$50,000
• Medium Complexity: $50,000–$150,000
• Advanced Features: $150,000–$300,000+
  Platforms like iOS only cost $27K on average, while Android only apps start at $23K. Opting for both platforms may cost around $30K or more, excluding advanced features.

Source: Dev Technosys

Nowadays, one of the unavoidable transformational events in the financial sector is that individuals in a growing number are willingly switching from desktop and branch-visiting banking to digital banking. Digital banking apps have become one of the key ways that enable users to log on to their bank accounts as well as perform transactions. The rise of such digital devices have made it easy for everyone to access even banks. This way, there is no requirement to visit a bank branch to transfer cash and cross-check the status of the account. Now, it’s completely possible to do just with the use of banking apps on smartphones.

The attraction towards digital banking apps is increasing so rapidly that banks across the globe have begun expanding into digital banking app development. Besides, they are also searching for new ways to transform all those apps into new-gen technology-rich apps. One of the most fascinating & surprising things about these apps is that they have acquired a lot of publicity in the last decade. According to the report given by Statista, in the United states there are nearly 57 million users of mobile banking apps. These figures are a track record that prove that the idea of developing digital banking apps will surely be a goldmine for all individuals in a few coming years.

Before going to start developing digital banking apps, a question that comes to mind is, how will the entire development process look like? And how much does digital banking app development cost?

Are you making up your mind to develop a digital banking app for your business? But still in dilemma regarding how to create a digital banking app? And what will it cost you to build one? If it really is so, you are at the right place. This post is for you! After going through this post, you will be able to deep dive into all facets of developing a digital banking app and also each factor that will explain how much it costs to develop a digital banking app.

Does it sound intimidating to you? If yes, you need not worry at all. Let’s begin figuring out the cost of developing a digital banking app for your project.

Facts And Figures Favouring The Idea Of Developing A Digital Banking App In 2025

There is a range of statistics that certify the requirement for digital banking applications. Here are a few prominent ones-

• It is observed that around 90% of the users make use of mobile banking apps for identifying their bank balance, whereas 79 % use those apps to view their transactions.
• As per the Allied Market Report, the global digital banking market was USD 715.3 million in 2018 and anticipated to increase more than USD 1824.7 million at a compound annual growth rate of 12.2% by 2026.
• Individuals within the age group between 25–34 utilize digital banking applications most frequently. Group of 35–44 year individuals’ usage rate is 21.6%. On the other hand, people who are over 65 years of age have the lowest digital banking app usage rate- 8.5%.
• According to an Insider Intelligence report, today over 97% of the users use digital banking applications.
• The market of digital banking apps was valued at USD 772.96 million in 2022 and is predicted to increase USD 1873.23 million in 2030.

What Are Digital Banking Software Solutions?

In the simplest terms, digital banking apps are those apps that are an ideal way to manage financial storage and all transactions. These apps are quite different from the apps that credit unions, banks, and a few renowned financial institutions provide to users. Such digital banking softwares is a reliable way to simplify the process of sending & receiving money. A few well-prominent digital payment apps that are in existence namely- PayPal, Venmo, and CashApp.

There are mainly three kinds of digital banking app solutions that are mentioned below-

• Internet Banking Apps

Internet banking apps are those apps that users can open in the internet browser of their smartphones or desktops. It enables clients to manage their bank account details from the web.

• Mobile Banking Apps

As the name says, these apps are one of the most utlized digital banking solutions. With the help of these apps, users can easily check their transaction history, access all their banking details, balance of their account, and more. Besides, they can also perform a few more advanced actions such as- payments, FD creation, deposits, and many more things on their smartphones at any time when they want.

• Client Based Apps

These apps are helpful for all those customers who work in a corporation on desktops. To take advantage of these apps, the clients have to first install these apps in their smartphones or on desktops. Afterwards, banks will allow them to access the database as well as banking systems for making payments any time.

Features & Benefits Of Digital Banking Apps-

The total cost of building a digital banking software relies primarily on its characteristics. So, let’s go through each of its features as well as its benefits in detail.

Features:

Key features of digital banking apps include-

• Allows customers to make payments easily, quickly and safely
• Helpful to individuals to manage their performance as well as monitor their account activity
• These apps include a flexible system that assists users in checking their bank balance, exploring previous transactions, overviewing statements, and a few more things.
• Enables individuals to manage their spendings and develop habits to save for future
• Digital banking apps provide users with advanced techniques to safeguard their budgets and making successful plans
• Offers some security elements & several forms of authentication before payment such as-passcode updates, lock/unlock cards, and safe sign-in.
• Simple and imaginative designs of the app to enable individuals to access them more comfortably

Time-saving

• Makes it easy for users to utilize their credit cards for making in-person payments to one another.
• Helpful for individuals to make cardless transfers of payments instantly with the use of push codes, scanning QR codes, etc.
• Provides users with the option to customize alerts and notifications as per their preferences.

Benefits:

There is also a range of benefits concerned with developing digital banking softwares. A few of them are-

• Increases customers’ ability to perform almost every banking activity from the comfort of their office or home. It leads to a rise in the satisfaction level as well as loyalty.
• Elimination of the requirement of tellers and physical branches.
• Reduction in the operational expenses.
• Decrement in the reliance on paper-based transactions and printed statements.
• A great contribution in cost savings for financial institutions.
• Expansion in customers’ accessibility to new markets.
• Enhancement in the customer base and business’s competitiveness in the market.
• Automation of daily tasks for reducing manual errors, focusing on highly valuable tasks, improving efficiency, and bringing enhancement in productivity.
• Offers real-time and valuable data
• Empowers banks to customize their services, identifying customer trends, as well as develop data-directed business strategies.
• Enhancement in security measures such as- fraud detection systems
• Enables businesses to be competitive and also stand out from opponents
• Provides business owners with capability to integrate with several systems such as-payment gateways, accounting software, and third-party services.

Factors Influencing The Digital Banking App Development Cost

Cost To Create A Digital Banking App = Total Development Hours * Hourly Rate Of Developers

The average cost of developing a digital banking app ranges from USD 50K to USD 100K. But it can vary due to so many factors. All of these factors have been mentioned as below-

Apps Of Different Complexity Levels

The development cost of a digital banking app depends on the type of banking app. If any business owner is willing to create a simple app with a basic feature list, it will cost him around USD 30K to USD 70K. Or if he has the desire to develop a medium complex app with an extensive feature list, he will have to bear the cost of nearly USD 70k to USD 150K. And he wants to build a highly complex app with an elaborate feature list, he will have to pay USD 150K to USD 300K for it.

Wireframe: The Overall Architectural Design

To design a digital banking app, wireframing is considered one of the significant stages that can not be afford to miss. Basically, wireframe is the layout of the banking app that is created with the help of the latest tools such as Photoshop. This layout has to pass out from several testing procedures for finalizing the most relevant one that can provide a real vision of the app to be designed. Generally, a wireframe design costs nearly USD 8K to USD 10K.

UI/UX Design

After making the wireframe of the banking app, now it is time to decide the design of the app. It is also a crucial factor that contributes to the success as well as failure of your app. It also provides users with a visually appealing and an intuitive experience. How much minimalistic, user-friendly and engaging design the app designers create, impacts the cost of digital banking app development.

Platform Of The Digital Banking App

When developers make a selection between an iOS or Android platform for a digital banking app, it affects a lot on the comprehensive budget of the app. If developers decide to have their banking app for only a platform and afterwards they switch to cross-platform app development, the development cost varies accordingly.

App Development Team Size

The next phase that ultimately impacts the overall digital banking app development cost is the size of the dedicated app development team. The digital banking app development cost may vary as per the choice of the developers regarding selecting experts to make an app development team. If the business owners choose in-house app development options or hire freelancers from a reputable company for their digital app development project due to constraints regarding budget & resources, it impacts the app development cost a lot.

However, if you hire freelancers for your app development cost it can assist you in decreasing the overall app development cost. But, if they lack app development experience and technical prowess, it can cost you much more than the overall digital banking app development cost. And on the other hand, hiring a full-fledged digital banking app development company may charge you a bit more than the previous option. But one thing that is certain is that this option will provide the business owners with a high-scale return in the long run, because of the highly-qualitative services they offer.

The size of an app development team can increase or also decrease as per the overall complexity of your project. But, a standard size of the app development team must include- one project manager, two-three backend developers & iOS/ Android developers, and one-two designers & quality analysts. This way, the size of the app development team impacts a lot the total digital banking app development cost.

Company’s Location

The location of the banking app development company is also a significant element that influences the app development cost. If the business owners prefer to move from East to West to select the banking app development agency, it will increase the cost of the digital banking app development.

As per the reports, it has been observed that the average hourly rate of digital banking application developers in the United States is much higher comparatively to the app developers in African or Asian nations. Here is a rough idea regarding the digital banking app development cost in several regions of the world-

{ The estimated hourly rate of development in the region namely-Eastern Europe is USD 30 to USD 40; Asia — USD 20 to USD 30; Latin America- USD 40 to USD 60; Africa- USD 20 to USD 40.}

App Maintenance

It is also one of the most vital factors that affect the digital banking app development budget of business owners. It has too much significance for the launch of the app and also to keep it up to date & running constantly. Overall, maintenance of applications has become really very important for the digital banking industry to manage the users’ data.

The overall app development budget may increase or decrease as per the business owners’ choice or decision regarding the implementation of advanced technologies to the digital banking app. Besides, maintenance of a competitive edge in the market also influences the digital banking app development cost.

Integration Of Technologies

The other significant factor that directly influences the digital banking app development cost is technology integration. If the business owners think about integrating latest and cutting-edge technologies such as artificial intelligence or blockchain to your banking app, it will certainly affect the overall digital banking app budget.

One of the most important things that business owners need to keep in their mind while going to initiate the banking app development project is selection of the right technology stack. It is so because this decision is also a crucial decision that can ensure the success of your digital banking app’s success.

Le’s have a glance at the general tech-stack that can assist all app developers in developing digital banking software-

• Google Suite
• AWS- Amazon Web Services
• ReactJS
• Java
• Kotlin
• Swift
• Objective C
• TestComplete
• Kobiton
• Appium
• Figma
• PhotoShop
• PHP
• Tibco

Digital Banking App Feature-Set

Features of the digital banking app are one of the most important factors that contribute to the total app development cost. The less complex and advanced the features are, the lower the digital banking app development cost and vice versa.

So, let’s have an overview of a few of the most sought-after characteristics of a digital banking app-

• Simple and highly secured sign option in the digital banking application
• Implementation of the multi-factor authentication system for the security of the application
• Already developed sections in banking app that can access all users easily Specific sections in the app for the transfer activities
• Push notifications to retain customers and also to increase the engagement levels in application. Push notifications can be of three categories namely-Transaction-based, Promotion-based, and Application-based
• Integration of Apple or Google Maps in the application
• A securely-devised chatbot
• Innovative QR code scans and latest communication technology

Final words,

Hopefully, after reading this post you will surely have an idea related to the digital banking app development and also about the factors that affect the overall app development cost. So now, it’s absolutely the right time to make investment in a digital banking application. For this, it’s the best idea to hire a trustworthy digital banking app development company that will provide you with a well-defined plan to develop a digital banking app.

In addition to this, they will also integrate a plethora of latest tech stack and exclusive features in the banking app, as per your business’s needs. Besides, they will help you out in knowing the estimation of digital banking app development cost. So, you need not run the horse of your mind, just get in touch with a trustworthy digital banking app development solution provider, and get your app developed or obtain an app development cost estimation.