Neobank App Development Company | Create Your Own Neobank App

As the world goes digital, banking and neobanks are at the forefront of this technological advancement. In 2025, we are witnessing a shift from traditional banking systems to modern, high-tech neobanks.

The demand for neobank mobile app development is rising fast. This raises a common but significant question: Why would a business or investor want to build a neobank app in the first place? The answer is simple:

The global neobanking market size is expected to grow at a compound annual growth rate (CAGR) of 54.8% from 2023 to 2030.

These numbers represent a massive opportunity to capitalize on the growing demand for user-friendly, mobile-first neobanking solutions.

Want to know how you can profit by developing your neobank app? Will it be an investment worth the effort? Most importantly, how do you begin? Read on to find answers to all your questions.

Neobanking Solutions: The New Way of Banking

Let's learn about neobanking app platforms before we understand the ins and outs of their development process. Neobanks are one of the many types of fintech firms. They have acquired several names since they started in the mid-2010s, such as 'challenger banks', 'digital-only banks', and 'online banks'.

Neobanks do not require a brick-and-mortar setting to operate. They offer financial products via mobile apps or websites and generally require multiple back-end applications to support the platform's vast features.

Neobank App Platform vs. Traditional Banking Platforms

Neobanks offer an enhanced banking experience that addresses the shortcomings of traditional banks. Here’s a comparison:

Blockchain and Neobanking - A Perfect Mix

Blockchain’s growing dominance in the fintech industry has fueled the rise of digital-only banks and increased demand for crypto bank development companies. Neobanks bridge traditional and decentralized finance, guiding conventional banks toward a brighter future under the umbrella of Web3.

Web3 neobank banking app development will shape future banking pathways through digital wallets, decentralized finance, applications, exchanges, and more.

Building a Digital Bank with a Neobank App Development Company

Full-digital banks, neobanks, have transitioned from being an experiment to a core element of the banking landscape. Gartner analysts predicted that 30% of banks with over $1 billion in assets will launch Banking-as-a-Service (BaaS) for new revenue by the end of 2024.

Neobanks are firmly mainstream now, as millions of consumers are now using digital-only banks. UK-based digital bank Revolut closed 2024 with 45 million customers and a $564.36 million pretax profit, illustrating both scale and profitability in the neobank model.

The prompt availability of services to develop a neobank app has played a crucial role in the broader user adoption of the neobank platform.

Read ahead to learn developing a neobank from scratch. Get the business owner's perspective, keeping things straightforward and informative, and learn how to build a neobank in 2025.

Our Neobanks Mobile App Development Process

As a professional fintech software development company with over 13 years of experience, we’re delighted to share insights on developing a neobank solution.

The process can be complex, especially for those new to the fintech space.

Market Research

Market research is crucial for any process. Effective marketing research enables the right path for app development. Along with setting a development path, market research helps identify product-market fit to save costs on reiteration or rework.

We assist you in market research by conducting customer surveys and competitor gap analyses. These practices reduce the risks of launch delays and brand damage.

Understanding Regulatory Compliance

Mapping local or regional banking regulations such as PCI‑DSS, PSD2, GDPR, KYC/AML helps secure licenses or partnerships. Earlier, only a full banking license would suffice but times and regulations have changed.

It is highly crucial to secure the right license to launch a neobank. There are two types of licenses that allow digital banking operations-

Electronic Money Institution (EMI) License: Authorizes institutions to issue electronic money and process payments. An EMI-licensed organization can:

• Issue and distribute electronic money, enabling customers to store funds in an e-wallet for payments

• Perform currency exchanges

• Process direct debit or credit transfers

• Transfer funds to other customers

• Manage withdrawals and deposits

• Let customers access their account details

Payment Institution (PI) License: PI license authorizes the holding institution to process payments without issuing the electronic money. An organization with an EMI license can;

• Manage payments

• Manage payment accounts

However, there are several things that both EMI and PI cannot perform-

• Traditional bank accounts (only e-wallets are permissible)

• Deposit guarantees

• Conduct international transactions

We help you proceed with regulatory compliance by facilitating research into the specific compliance requirements in your region.

UI/UX Design & Prototyping

UI/UX design plays a crucial role in establishing user trust. We help your brand achieve better market results and gain a significant market share. The team follows mobile-first and accessibility guidelines (WCAG) to tackle usability issues before coding and boost experience with intuitive flows.

Here's how we implement the best UI/UX design practices;

• By creating secure and intuitive digital channels

• Developing a user-friendly app design

• Enabling effective design communication

These three major practices avoid confusing UI and a high drop‑off rate at onboarding.

Selecting Architecture and Tech Stack

Selecting the right architecture and tech stack helps reduce iteration complexities and mitigate frequent risk outages. Avoiding this step loses the opportunity to scale the user base, increases failure chances and complicates the maintenance. Our team ensures the right architecture and tech stack selection by;

• Designing a microservices architecture for independent scaling

• Enforcing API versioning and contract tests

• Adopt domain‑driven design (DDD) for core banking modules

Agile Development and Quality Assurance

It is the step where planning and design take shape. Our crypto neobank app development approach is agile, including the following sub-components.

• Sprint-based or Kanban process for daily development stand-ups

• Shift-left testing, including unit or integration tests

• Biweekly hardening sprints for bug fixes and refactors

The following industry-oriented and latest tech stacks enable us to achieve the highest level of agile fintech application development;

• Linux, Apache, MySQL, PHP (LAMP): This tech stack delivers the best cost efficiency, flexibility, and performance.

• MongoDB, Express.js, Angular.js, Node.js (MEAN): It provides a practical approach to developing efficient applications and enables building scalable software solutions.

• MongoDB, Express.js, React.js, Node.js (MERN): This tech stack is similar to the MERN stack, with the only difference being that Angular.js is replaced with React.js. React is flexible and performs well in developing interactive user interfaces.

• Ruby on Rails, Python, and Java

Testing and Deployment

Undoubtedly, testing is crucial in the whole process of neobank app development. Security, fraud, and compliance testing protect user data, develop customer trust, and fulfill audit requirements.

• Enforce multi-factor authentication (MFA) and role-based access control (RBAC)

• Continuously monitor logs and run annual and quarterly tests

Being a professional neobank mobile app development company, we implement effective testing practices to ensure the right track for app deployment.

Essential & Advanced Features That Power Our Neobank App Excellence

Imagine a digital banking experience where every tap feels effortless and every feature anticipates your needs. That's the foundation we build on.

Onboarding and Security Features

• Biometrics: Our neobanking solutions have biometric verification for reducing cyber threats; this is a must-have feature for all digital banks.
• Real-Time Fraud Detection: Advanced real-time fraud detection in our neobank app platform can detect out-of-pattern behaviour instantly, adding to your users' security.
• e-KYC: Experience seamless e-KYC capabilities, enabling swift, secure, and paperless identity verification to accelerate user onboarding with full regulatory compliance.

Core Banking & Payments

• Card Issuance: With our neobank app solution, instantly issue virtual or physical card numbers linked to users' credit or deposit accounts.
• Integrated Payments and Transfers: Our platform seamlessly integrates diverse payment systems, allowing users to manage money with transaction speed.
• Quick Money Transfers: Built for speed, our platform supports instant money transfers between accounts and increases daily engagement across your neobank ecosystem.
• Cross-Border Payments: Enable users to send and receive international payments with minimal friction. Our solution simplifies cross-border payments by ensuring seamless currency conversion, full regulatory compliance, and fast transaction processing.
• ATM Map: ATM Map enables users to look for the closest ATMs and track their transactions, including their history.
• Multi-Currency Accounts: This features allow users to hold, convert, and transact in multiple currencies seamlessly.

Financial Management & Insights

• Budgeting Tools: These tools help end users effortlessly track income, expenses, and savings, enhancing financial literacy while increasing app engagement and retention.
• AI-Enabled Financial Insights: Our platform delivers AI-driven insights that analyze spending patterns and suggest personalized actions. It enables users to make smarter financial decisions.
• Automatic Savings: Get automated savings features like round-ups and scheduled transfers, helping users save without much effort.

User Engagement & Support

• Push Notifications: Our neobank platform's real-time push notifications keep users informed about transactions, offers, and security alerts, driving engagement.
• Chatbots and AI Assistants: Chatbots and AI-powered assistants streamline user support, reducing operational load and enhancing the overall customer experience.

Gamification & Personalization

• Customized UX: Modern banking goes beyond just building an app. At Suffescom, our neobank solutions deliver a personalized user experience with a smart in-app search engine that makes user interaction seamless and intuitive.
• Gamification Components: Our neobank platform includes gamified elements to increase user engagement. Adding gamified movable icons will genuinely increase user interaction with the app.

We Incorporate Numerous Neobank Apps Business Models

Being a leading DeFi development company in the US, we focus on how to empower businesses so that their revenue hits the mountaintop in a short amount of time. Let us have a look at some of the business models:

Interchange-Led Business Model

Our neobank platform generates income from interchange fees charged whenever customers use their cards through the app. An example of neobanks with interchange-led models includes Chime (USA). Chime earns a portion of the Visa fees transacted when clients use their Chime Visa to pay for something. 

Credit-Led Business Model

This business model is based on a credit-first model, just like a traditional credit card; the neobank gains revenue every time a user initiates a card transaction. Most neobanks don't charge annual fees, and customers can pay by Buy Now, Pay Later or in installments.

Asset-Led Business Model

This business model is based on neo-banks offering savings accounts and gaining some of the deposits with competitive rates. These types of high-yield savings and certificates of deposits (CDs) enable banks to participate in the consumer banking market and generate significant profits.

Product Extensions

This business model revolves around product extensions, further evading barriers between different financial domains. For instance, Robinhood, a neobank that offers a commission-free trading platform, released its gold subscription, which was just five dollars for certain services. 

Services We Provide in Our Neobank App Development

We deliver end-to-end solutions tailored to your fintech vision, from intuitive UI/UX design to robust back-end architecture. Our services include:

App Development Consultancy

We deliver expert guidance to help you build a valuable neobank app. Along with consultancies, creating a strategic plan to develop a neobank platform from scratch is another offering. The team also audits the existing solution and suggests an enhancement strategy to adapt it to the market.

Development Strategy

To stand out from others, we deliver the best Neo Bank app development services by strategizing the timeline and resources, planning the tech stack, outlining the development roadmap, establishing success indicators, managing risks, and allocating resources. Ultimately, we prepare for compliance and assemble the right team for your project.

Neobank MVP Development

MVP development is the ultimate way to market the product with the best design and features. These services include prioritizing essential features for your neobank mobile app, testing them in the market, and refining them based on market feedback.

UX/UI Design

Modern banking should be easy and accessible, especially on the go. Our designers prioritize a mobile-first approach for your neobank app. We use clear and intuitive navigation menus and icons that help users quickly access essential banking features.

Custom Neobank Software Development

No matter your vision for a neobank software, we'll ensure it finds its market fit. If you want to offer a convenient and secure payment for your users, we develop a cardless payment feature, a digital wallet, or an online bank transfer that makes transactions the most secure.

Third-Party Integrations

We recommend integrating with trusted third-party providers like Unit, Galileo, and Treasury Prime to optimize resources and accelerate time-to-market. This allows us to streamline development, enhance your app's functionality, and improve the overall user experience.

Software Testing and Maintenance

Leave your app's maintenance to us, and we'll ensure it enjoys the longest possible uptime. We prepare a comprehensive QA strategy and conduct thorough testing and security assessments to address issues proactively. We also provide regular updates and performance boosts to keep your app at its best.

White Label Neo Banking Platform

Get the best-in-class white label neobank app development with provisions for customized branding to serve a significant user base. We build a fully digital experience using our market-ready white label neo banking platform. Get fully customizable software, compliant with data security, with Saas-based pricing.

Why Choose Suffescom to Develop a Neobank App Platform?

Web3 in finance is powering neobank development services worldwide. We integrate features based on client specifications and market niches, ensuring high-end designs and advanced analytics.

Popular Options and Panels

Our admin panels provide complete control over revenue flow, profiles, and data content. User panels have restricted access, while admins can modify or delete content.

Interesting UI/UX Design

Our competent UI/UX designers create unforgettable customer experiences, with clone development features that save costs by aligning with market trends.

Improved Analytics

Our analytics are tailored to industry needs, bolstering business strategies and ensuring steady revenue streams.

On-Time Delivery with Complete Support

We deliver ready-made products on time with regular updates, ensuring seamless client experiences.

Excellent Customer Ratings

Rated 5/5 on GoodFirms and Clutch, our global clients attest to our expertise in delivering top fintech solutions.

Contact us now to begin your neobank platform development journey.

FAQs

1. What is a neobank app?

A neobank app is a digital-only banking platform that operates entirely online, without physical branches. It offers services like account management, payments, and savings through a mobile app or website.

2. How do I build a neobank platform?

The standardized process starts with market research, followed by app design, development, testing, and deployment.

3. Why should I develop a neobank app?

Developing a neobank app lets you tap into the growing fintech market. It’s a cost-effective way to offer modern banking services, attract tech-savvy users, and generate revenue through models like interchange fees or subscriptions.

4. How much does neobank development cost?

Neobank development costs between $10,000 and $30,000, depending on features, design complexity, and integrations. Suffescom Solutions offers customizable, white-label neobank app development to fit your budget.

5. How long does it take to develop a neobank app?

Development time varies based on features, customization, project scope, and the expertise of the fintech app development company. Higher expertise typically reduces development time.

• NEO Banking Solutions