As a financial institution, well-designed digital applications are crucial for creating a highly functional platform and set of technological services for your business, staff, and customers.

Application development services provided by FinTech companies – such as CPQi – can help provide the support, expertise, and customization a financial business needs to thrive. With the right set of app development services, institutions can gain a sharp competitive edge.

In this article, we will define what application development services are and what they entail. Plus, we will cover 5 of the best application development services and why to consider partnering with CPQi.

What are Application Development Services?

Application development services are solutions that help businesses to transform key ideas or services into functional digital applications. These applications can serve a variety of purposes, from supporting staff members to providing customers with a better user experience.

To utilize these types of services in financial markets, financial institutions turn to FinTech companies that specialize specifically in digital development. Application development services go beyond simply creating an application, they also provide the necessary support for application implementation, maintenance, and management as well.

Examples of applications in financial markets include:

  • Mobile Apps: These days, most financial customers expect to have access to their accounts via their mobile devices. Building a functional mobile app that provides customers with core financial services is a popular form of application development.
  • Robo Advisors: Robo advisors offer customers personalized investment or financial advice using a range of technological tools and software, including machine learning and AI.
  • Automated Platforms: In today’s financial markets, having a well-designed digital platform is critical. With the right application development services partner, a financial institution can create and implement its ideal platform with automated functions to improve efficiency and scalability.

5 of the Best Application Development Services in 2022

Now that we have a better understanding of what application development services are, let’s take a look at 5 of the best services for financial institutions to consider utilizing in 2022:

1. Agile Squads & DevOps

The Agile methodology is an approach to software and application development that focuses on providing faster and more satisfactory deliveries to customers.

Agile squads, on the other hand, refer to specialized teams of professionals who have a deep understanding of the Agile methodology. In an Agile squad, you will find a small and self-managed team that is committed entirely to one shared goal – the application development project of a given client.

Along with looking for application development services that offer Agile squads, it is also crucial to look for providers who utilize DevOps. DevOps is a set of practices used to unite development and operations teams to ease the process of integrating software and applications into existing infrastructure.

2. Staff Augmentation

Staff augmentation is a type of service in which a financial institution can work with the specialized professionals they need without having to hire their own, long-term employees.

With staff augmentation, these specialized professionals are employed by another company. However, these professionals are ready on-demand and as needed to offer key support and application development execution to any institution that needs it.

This type of service is especially important for the financial markets, where finding talented professionals trained in both technology and finance is essential.

Application Development Services

3. Managed Services

For many financial institutions, onboarding a full team of IT and software professionals to manage new applications can add a lot of staffing expenses and time-consuming processes to their business operations.

Finding a FinTech provider that offers managed application development services is a key solution to this problem. With managed services, institutions receive ongoing support and technical expertise to ensure their applications are always up to date and running smoothly.

4. Digital Development

A step above application development is digital development – a type of service that helps institutions completely understand and assess where they are in their digital journey and where they want to go.

With the right digital development provider, all of an institution’s development bases are covered – from programming back-end solutions, robotic process automation (RPA), to designing easy-to-use user interfaces. Plus, this type of service can help your institution formulate a more strategic digital approach.

👉 Learn more about RPA in banking here!

5. Cloud Integrations

Focusing on enabling and implementing the cloud is essential, as it helps to ensure that your institution has the scalability and digital infrastructure needed to survive in an increasingly digital world.

Implementing the cloud and integrating applications is no small task and it requires cloud experts to accomplish. As such, comprehensive cloud services are a key solution for any application development approach.

Final Thoughts: Partner with CPQi for Expert App Development Services

When you partner with CPQi for your application development needs, you will have access to all of the above-listed services and more.

CPQi has specialized team members who are cross-trained in both technology and finance. Plus, our teams utilize Agile methodologies and DevOps to ensure all of our projects and assignments are completed quickly and thoroughly.

To learn more about CPQi’s application development services, contact our team today!

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