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Online banking solutions

Banking software solutions: insights into developing your own software with the IFB team

If you plan to bring a digital product into the online banking world, you must be aware of certain key aspects. Specifically, understand how payment gateway solutions integrate and how to ensure effective fraud detection in online banking, as you'll be dealing with clients' finances, which involve inherent risks. Additionally, obtaining the necessary license will be crucial, as it's only granted when your digital product meets industry standards.

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To launch fintech solutions for banking projects, you’ll need essential components, such as:

  • Data Encryption. To protect against unauthorized actions by malicious actors.
  • Multi-Factor Authentication. Preventing unlawful financial transactions by third parties.
  • Communication Channel Security. Ensuring seamless communication between the program and the server.
  • KYC Policy. Identifying potential threats and mitigating financial risks.
  • Reliable and Scalable Tech Stack. Facilitating future program upgrades and modernization.
  • Provider with Advanced Equipment. Ensuring stable and fast communication with the bank’s servers.
  • Dedicated Servers for transaction processing and critical data storage.
  • Security Models like Castle and Moat or Zero Trust. Providing extra user and bank data protection.
  • Access-Level Hierarchies. Distributing functionalities among financial operation participants.
The requirements go beyond these points, and each project’s needs are unique. To understand them better, seeking assistance from IFB experts is the way to go.

Benefits you’ll gain from partnering with IFB

When developing mobile banking applications, it’s crucial to understand that you’re creating Internet banking platforms that must adhere to industry standards. IFB experts will assist you in considering all the essential nuances.
By collaborating with IFB, you’ll receive:
  • In-depth analysis of the segment.
  • Prioritization of financial and technical aspects.
  • Assistance in preparing project documentation.
  • Support in various operations, including:
    • Finding performers;
    • Determining the technical foundation;
    • Arranging cooperation with developers and QA;
    • Managing legal processes;
    • Software development, implementation, and scalability.
  • Comprehensive consulting on all related matters.
  • Qualified support for critical business processes.
  • Tailored pricing for our services.
IFB’s experts will help you prepare for launching projects with cloud banking services and support you throughout the realization process. Our team will ensure your digital product complies with norms, standards, and relevant regional laws where the bank’s services are provided. Moreover, our specialists will handle all crucial legal operations, freeing you from routine tasks.

Types of IT solutions for online banking that we can assist with

At IFB, our experts are not bound by limitations, as each team member is accredited in multiple niches and possesses ample experience in the financial industry. We offer services to help you address challenges related to all aspects of digital banking, including cybersecurity for online banking.
Our IT solutions support services cover a wide range of areas:
  • Web Banking
  • Mobile Banking
  • Smart Banking
  • Video Banking
  • Voice Banking
  • Payment Gateways
  • Transaction Processing Platforms
  • Microcredit Programs
  • Quick Loans
  • Money Transfer Solutions
  • BNPL Platforms (Buy Now Pay Later)
  • Fintech Services
We also work with various other types of software, catering to segments like B2B, B2C, C2B, C2C, P2P, and more.

How we will collaborate

Our interaction process is simple, comprising just a few basic stages:
STAGE 1
Defining project goals and concepts
We familiarize ourselves with the client’s digital banking technology idea and assess its viability, approximate cost, and potential ROI.
STAGE 2
Signing the cooperation agreement
We create and sign the agreement, NDA, and other necessary documents.
STAGE 3
Information gathering and basic consulting
We analyze the niche, explore opportunities to reduce operational costs, and save the client’s time.
STAGE 4
Legal support for project launch
We assist in finding experienced project executors, verify their reputation, and handle project registration with relevant regulators.
STAGE 5
Monitoring Development and Its Aspects
We closely monitor the development process and ensure the technical foundation of the software is efficiently formed.
STAGE 6
Ensuring compliance with financial sector standards and laws
We conduct rigorous testing of all mechanics and protocols for security and compliance.
STAGE 7
Legal assistance in documentation and publication of IT solutions
We gather permits, documentation, and specifications and handle product licensing.
STAGE 8
Finalizing the project
We summarize the work, provide relevant documents and calculations to the client, and receive payment for services.

IT solutions for online banking – a chance to scale your business and gain additional income. Want to swiftly and efficiently launch such a digital product? Contact an IFB representative for an initial consultation!