If you’re involved in the financial industry in any way, then outsourcing your software development projects can be incredibly beneficial. If you have any doubts about outsourcing your development projects, check out the top 5 countries that are great for outsourcing financial software development projects. You might be surprised at how cost-effective and efficient outsourcing can be!
1) India
India’s outsourcing industry employs almost 3 million people, contributing to 9.4% of its total GDP. Its increasing software exports have made it one of world’s fastest growing economies. India is known as a good location for outsourcing because of low wages and well-developed infrastructure. The country's well-educated workforce also makes it an attractive option for companies looking to outsource financial software development.
2) Poland
With an inexpensive labor force, Poland is an ideal place to outsource your financial software development. The country has one of Europe’s fastest growing economies, with wages staying relatively low. This makes it easy to get work done at lower costs.
3) Mexico
The United States has long been recognized as a leader in fintech software development. However, emerging countries with growing economies have begun to threaten its dominance. Mexico is one of these countries, having experienced significant growth in recent years. Not only is it now becoming an important financial hub due to its strategic position within Latin America, but it’s also home to some of the most influential companies in global fintech.
Related Articles: https://www.valuecoders.com/blog/technology-and-apps/uncovering-top-10-finance-app-ideas-to-kickstart-your-fintech-startup/
4) Philippines
As of 2014, over 20% of all Filipino citizens have internet access. In fact, Filipinos use more mobile data than any other country in Southeast Asia. As a result, their services have been in high demand around the world and is why they’re often considered one of the best countries to outsource fintech software development.
5) Ukraine
The government in Ukraine has put a lot of time and effort into improving its financial sector. As a result, it’s become a leading location for outsourcing software development for banks, hedge funds, and other financial services firms. The average cost per developer hour in Ukraine is around $15. This is one of the lowest rates in Europe.
Conclusion
When you’re looking to outsource financial software development, your first instinct might be to turn to India, but that’s not necessarily a good idea. While Indian developers can certainly handle most software development needs, there are other countries around with their own highly-trained teams. If you want a high-quality end product and a great experience overall, consider outsourcing financial software development to one of these top five countries instead. ~~~ Disclaimer: This is a sponsored post brought to you by Online Business Solutions
Read More - https://medium.com/geekculture/5-top-countries-known-for-outsourcing-fintech-software-development-d1ea5ed191d5
With a wide gamut of advanced technologies available, the fintech industry has reached the highest peak of success.
Programmers who are likely to work on large-scale fintech or big-data projects can consider using Java.
That's why it's ideal to go for those who are worried about security.This language uses the virtual machine to provide the most portable execution environment for Java programs.PythonIn the fintech landscape, Python is the oldest language that is gaining popularity nowadays.
The thing that programmers like about this language is that they can reuse the code, which further lowers the development cost.
Not suitable for beginners, but experienced developers can use this language in specific niches for more efficiency.C++ is considered one of the fastest executing programming languages due to its in-built data structures.Such programming promotes the reusability of code, which is the most beneficial thing for developing complex projects.Rich library support is another main reason why C++ is best for the development of fintech applications.
Most of the programmers use it for the implementation of little syntax and semantic rules.
Read here more about the most appropriate and popular programming language which is the best for developing fintech apps so that finance players can easily penetrate the market and get a viable fintech product.Read more: https://bit.ly/3t4CoO5
Moreover, the shock of the great recession agitated the emergence of new technology solutions in self-service, online and mobile banking, and artificial intelligence.A 2018 Executive survey indicates that some top executives fear that their firms are at risk of displacement from highly agile, data-driven competitors.
The fear can also be seen within smaller non-technology-centric firms to tech giants- like Amazon and Google.Though the growth pace is slower than other industries, financial service providers explore innovation opportunities and adopt the most efficient techniques.Reasons for change in consumer behaviorThe interrelated expansion of mobile internet access has encouraged the growth of FinTech products.
Using the best-in-class tech, one may secure the company and make it move forward without fearing to age.How can you improve your existing services through FinTech Solutions?Technologies like chatbots, biometrics, and blockchain compete with traditional financial methods- leading to the innovation of the financial sector.
Let’s see how each of these improves your existing approaches.Let’s look at some recent examples of FinTech firms that include innovations as a part of their strategy:Quantopian – Quant users share a platform where they can develop/share algorithms and trade them later.Kensho – An AI engine puts data at the fingertips of non-technical users to bring data science to a wider audience;Elsen – A computing engine that takes complex models for traders and processes results within minutes.Over 45 percent of customers in the U.S. use at least one financial technology service or FinTech app.
The technology allows secure authentication with the lesser effort from the customer.One such example is a mobile solution created by Wells Fargo, a community-based company.
The solution helps customers view account balances, make deposits, and approve payments all through mobile devices.
The growth in Fintech and mobile app development solutions elevates the possibilities and easiness that lead to financial innovations.Do you want to find out the role of mobile app development in Fintech?
Starting from viewing bank balances online to transferring money to friends within seconds, the efficiency of Fintech has improved sufficiently.
For the past couple of years, a large percentage of people choose digital financial services over the traditional money transfer due to various reasons such as;Easiness in financial transactionsNo need of carrying cash and cards all the timeTransactions carried out directly from the banksTrack every transactionTransactions can be carried out virtually anywhereExciting cashback and offersChoosing a digital path can even save your time to a great extent.
Advanced Payment SystemsAn exciting benefit of Fintech is improving the efficiency of enterprises through more accurate invitation acceptance and collection, which provides more professional services and helps to strengthen the relationship with customers.
In addition, it increases their chances of returning as loyal customers.3.
However, it only increases the number of people accessing the system, improves the agility and ability to obtain information about transactions and exchange data with other consumers, and improves the ability to solve this problem.4.
Do you wonder what change technology can bring in financial services? Give this article a read.
Sanctuary Wealth, home to the next generation of elite financial advisors, continues to add top-level industry talent to its executive team with the appointment of Lauren Colonna as Chief Marketing Officer (CMO).
Lauren comes to Sanctuary Wealth with more than 22 years of experience in financial services and will direct the firm’s strategic brand building initiatives and well as the corporate and advisor marketing groups.
Concurrently, she will continue to head up Ovis Creative, now a Sanctuary Wealth Affiliate Firm.As the Managing Partner of Ovis, Lauren oversees a team specializing in the development of award-winning branding, marketing, website and digital communication solutions for Sanctuary Wealth, partner firms and financial services clients across alternative and traditional asset management.
Lauren and the Ovis leadership team maintain their commitment to a client-centric experience as the leading service provider in the space.“Sanctuary Wealth’s partnered independence model is designed to give entrepreneurial advisors the tools they need to grow their businesses,” said Jim Dickson, CEO and Founder of Sanctuary Wealth.
“We are thrilled to have Lauren, not only as part of the Sanctuary Wealth leadership team, but as an extension for all our partner firms who can now access outsourced marketing solutions including tactical planning and creative execution.
We couldn’t have found a better marketing partner than Ovis, as we continue to build our robust and differentiated platform.“Since our launch, Sanctuary Wealth has been enjoying exponential growth coupled with a significant pipeline that will allow us to maintain that pace,” Dickson continued.
