What Are the Main Challenges of Implementing KYC/AML in Fintech Applications?

Implementing KYC/AML in fintech solution development is all about striking a perfect balance between seamless user experience, strong security, and strict regulatory compliance. To deal with these challenges, several key features should be implemented, including identity verification, transaction monitoring, and risk scoring.

What Are the Key Areas of Fintech Software Development Services?

These services are aimed at delivering payment solutions, digital banking platforms, lending systems, wealth management apps, and fraud prevention tools. As the financial regulations evolve, developers focus on constant improvement of scalability, security, and compliance of solutions.

Why Is It Important to Create PSD2 Compliant Fintech Software?

It is vital because PSD2-compliant fintech software development ensures that applications meet EU standards for secure payments and open banking. Compliance is improving customer trust and expanding market opportunities, as it allows financial institutions to connect safely with banks and third-party providers through APIs.

How Do You Build Fintech Software from Scratch?

Software development for fintech is a complex process that starts with business analysis, regulatory mapping, and selecting the right technology stack. Development teams then design user interfaces, implement secure transaction flows, and integrate APIs for payments, KYC, and compliance. Next comes ongoing testing and optimization that guarantee a reliable launch.

Why Choose Fintech Development Companies with Experience in AI Integration?

Fintech software developers with deep AI expertise can deliver innovative, data-driven solutions such as fraud detection, predictive analytics, and personalized financial services. This expertise ensures that fintech software remains competitive in a fast-evolving environment.

Fintech Software Development Services for Scalable, Secure and Compliant Innovation

Modernize your financial processes and boost key operations, maximizing the potential of your business with our fintech development services for compliant, AI-driven, custom platforms.

SPD Technology
Fintech Software Development Services for Scalable, Secure and Compliant Innovation

Software Development for Fintech: Built for the New Financial Frontier

If your fintech platform is running on outdated technology, integrated with generic software solutions and struggling with fragmented infrastructure, you may already be losing revenue by facing common roadblocks, missing the wave of innovation, as well as emerging growth opportunities. See if any of these business challenges and obstacles sound familiar:

Legacy systems create compliance risks and slow down time‑to‑market
Siloed systems make obtaining real‑time insights across payments, lending, or investments impossible
Onboarding, reporting and KYC/AML is error-prone and costly due to heavy reliance on manual workflows
High transaction loads frustrate customers and make scaling impossible.

We provide our clients with fintech software development services that help to overcome these barriers. Unlock the full potential of your business and leave your mark on the tomorrow of finance.

Why Leading Firms Choose SPD Technology for Fintech Development Services

Here, at SPD Technology, we stand out as a fintech solutions development company that combines product‑led agility with enterprise discipline to ensure that the fintech vision of our clients thrives.

Engineered for Regulatory Scrutiny and Investor Confidence
Modern fintech platforms cannot compromise on compliance, trust, risk assessment, or risk management while ensuring effective financial data management that meets regulatory standards. We design systems with compliance‑by‑design controls that align with PSD2, KYC/AML, GDPR, and other frameworks, which safeguard investor confidence, accelerate regulatory approval, and ensure fintech products launch without costly reworks or delays.
Proven Track Record Across Complex Financial Systems
We deliver fintech software development services and share our experience in digital banking, payments, lending, investment, and more. We’ve successfully delivered mission‑critical systems for financial organizations and businesses of all sizes. Our experts take on complexity with confidence, ensuring future‑ready platforms that support business growth.
Outcome‑Driven Delivery Aligned with Business Metrics
Our company turns innovation into tangible business value through financial technology. In every engagement, we provide concrete metrics, such as transaction throughput, onboarding speed, or financial analytics and fraud reduction. By focusing on measurable outcomes, we help fintech companies maximize ROI and achieve sustainable growth as fast as possible.
Enterprise Discipline Paired with Product‑Led Agility
Both speed and reliability are crucial for winning fintech projects. Our approach combines enterprise delivery discipline with startup agility, since we have experience with turning ideas into leading platforms. This model helps our clients innovate rapidly while maintaining the resilience and compliance for regulated financial environments.
Long‑Term Commitment Across the Product Lifecycle
While providing fintech app development services, we support our products, when needed, from early prototypes and MVPs to platform upgrades and redesigns. The long-term success of our clients is a priority, so we ensure the competitiveness of the products by supporting scaling, optimization, and continuous improvement.
Deep Domain Fluency in Financial Technology
By empowering technical excellence with domain fluency, we easily translate sophisticated financial logic into scalable systems, build investor‑grade tools, and deliver versatile fintech platforms that meet both business goals and regulatory obligations, while pushing the needle of innovation across the entire financial sector.

Our Clients are Happy

To share their experiences

Alex Samano

Co-Founder & CEO, Mogami App

SPD Technology has done a great job of maintaining the lifeblood of their codes. They’re transparent with pricing models and deliver within budget. Their dedicated teams act as an extension of the partner’s company. Responsibility and a commitment long-term partnership are two hallmarks of their work.

Fabrice Forget

Chief Product Officer, PitchBook

We feel very lucky to have found SPD Technology as our partner. Over the last 10 years, they have totally surpassed our expectations, and day after day we have received incredible value from the team. Here is the secret sauce, just put together your best ideas in your requirements and there is nothing they can’t do!

John Gabbert

Founder and CEO PitchBook Data

Customers are king at PitchBook and SPD Technology shares in this mission. For the last 13 years, SPD Technology has helped us scale product development and continuously deliver the product functionality our clients need to make smarter decisions.

Prasad Sridhar

Senior Engineering Manager E-comerce Solutions Company

SPD Technology’s work has been praised by the client for their consistency and high quality. Their communicative, responsive, and flexible project management ensures a positive collaboration. Ultimately, their professionalism and forward-thinking are impressive.

Shariq Ahmad

Head of Technology, Morningstar, Inc

All of their developers and technology staff are highly talented and very professional. Working with SPD felt like we were working with internal team. They are always accessible any time of the day and very flexible in providing support to our users who are globally distreibuted.

Steve Carner

Founder CEO, Home Hub

The team at SPD Technology exceeds expectations. Their professional communication style makes them stand out, They’re a skilled group of detailed-oriented workers. Customers can expect a team that provides helpful suggestions to better their clients.

Redefine customer experience with secure, modern fintech platforms tailored to your organization.

We Partner with Key Players in the Fintech Industry

SPD Technology delivers innovative financial software development services for a wide range of clients, from startups to established market leaders, helping financial institutions to thrive in a competitive environment.

VC‑Backed Fintech Startups

In addition to navigating regulatory hurdles, startups are forced to move fast with deep financial expertise and technology consulting to prove a product‑market fit with limited resources and possible technical debt. We have years of experience providing fintech application development services for startups, helping VC-backed fintechs launch compliant MVPs, scale rapidly with cloud-native platforms, and integrate AI-driven features that attract investors and customers alike.
Wealth & Investment Platforms

Wealth and investment management systems should deliver highly personalized, data‑driven experiences while meeting strict regulatory compliance standards. Legacy systems and fragmented reporting become obstacles to achieving this. SPD Technology builds intuitive investor portals for the financial industry, real-time performance dashboards, and AI-powered valuation tools to enhance client engagement and build long-term trust.
Embedded Finance Enablers

Companies embedding finance into products face integration challenges with legacy systems, and working with multiple providers. We develop fintech solutions, focusing on payment systems and API‑first ecosystems for payments, lending, and insurance, ensuring interoperability, security, and compliance. Our software solutions accelerate the go‑to‑market for embedded finance enablers and unlock new monetization opportunities.
Lending & BNPL Providers

For BNPL and digital lending platforms, instant credit decision-making, secure repayment tracking, and regulatory alignment are mandatory. It is common for providers to have problems with fraud prevention and scalability. Here, at SPD Technology, we deliver automated loan origination, AI‑driven risk scoring, and seamless repayment workflows that enable lending platforms to grow securely and efficiently, gaining a significant competitive edge.
InsurTech Innovators

While disrupting legacy insurance models, insurtech companies often struggle with digitizing underwriting, claims, and compliance. As a fintech software development company, we build modern, AI‑enabled platforms for automated claims, risk modeling, and fraud detection, helping insurers improve customer experience while maintaining operational transparency and trust at the highest level.
Payment & Remittance Platforms

Cross‑border payments and remittances must balance speed, cost efficiency, and compliance. Fragmented systems often struggle with delays and security risks. SPD Technology develops robust, real‑time payment solutions, digital wallets, and money movement platforms that scale globally, ensuring security, transparency, and compliance with evolving financial regulations.
RegTech & AML/KYC Providers

Compliance remains a significant barrier for fintechs dealing with high‑volume transactions. Manual KYC/AML processes are prone to errors and slow down onboarding. While providing fintech app development services, we deliver automated compliance engines, risk monitoring tools, and audit‑ready reporting frameworks that comply with strict regulatory requirements, helping providers strengthen trust, meet deadlines, and minimize regulatory risks.

Challenges We Solve with Custom Fintech Development Services

While delivering custom fintech software development services, we overcome the most challenging obstacles that stand between companies and successful product launches, ensuring peak efficiency, security, and future-readiness.

Bringing Regulated Products to Market Without Delays or Rewrites

Unfortunately, the time to build a market-ready fintech solution is often slowed down by compliance hurdles, missed requirements, and costly rewrites. These challenges, which come from a highly regulated environment, delay time‑to‑market and create unnecessary expenses. Our approach ensures that critical regulations related to data security are built into the solution, helping clients accelerate approvals, reduce risk, and launch confidently.
Translating Complex Financial Logic into Scalable Digital Systems

Software development for fintech is very complex due to tech stack and a set of intricate rules, calculations, and workflows that are difficult to digitize and scale. Using generic fintech software fails to match this complexity. We deal with complex logic by using modular, API‑first architectures, ensuring fintech platforms run seamlessly under high transaction volumes while remaining adaptable to evolving business models.
Meeting Investor and Regulator Expectations for Security and Auditability

Every fintech software development company building a successful product should find a way to deal with security breaches and audit gaps that can destroy the trust of investors and end up in regulatory penalties. We develop fintech platforms with robust software architecture that includes enterprise‑grade security controls, automated audit trails, and advanced reporting engines, providing investors with the necessary transparency and confidence.
Gaining a Competitive Edge Through Embedded Intelligence

Implementing AI-driven intelligence has already become a primary factor that differentiates many fintech companies from their competitors. Financial institutions that rely on manual processes suffer from slow decision-making, errors, and miss significant insights. Our company embraces the power of AI, integrating ML models for more innovative underwriting, fraud detection, customer personalization, and predictive analytics in web and mobile banking apps.
Navigating Fragmented Financial Ecosystems with Unified Technology

The disconnect between payments, lending, compliance, and customer management systems is another significant blocker in custom fintech software development, as companies often struggle with fragmented workflows and data silos. We build unified technology ecosystems that integrate seamlessly across APIs, core banking, and third‑party providers with centralized data layers and real‑time dashboards.

The Value of Choosing Our Fintech Software Development Company

We bring decades of experience in fintech software development services, providing an unparalleled combination of domain knowledge, latest technology stack, compliance‑ready engineering, scalable architectures, and intelligent automation.

Secure, Scalable Architecture Designed for Growth
Fintech companies require flexibility and resilience to operate at the highest level. We design architectures with built-in scalability, capable of supporting high transaction volumes, new product rollouts, rapid business expansion, and market shifts, easily handling the demands of the evolving industry.
Compliance‑by‑Design Implementation
Preventing and eliminating compliance gaps is mandatory in software solutions for fintech. Our fintech developers ensure compliance as they embed regulatory requirements directly into system logic. This approach safeguards the operations of our clients, accelerates approval processes, and minimizes risk exposure while maintaining transparency and trust.
Faster Releases via Automation and CI/CD Pipelines
Speed is one of the deciding factors that separates fintech leaders from the pack. By integrating automation, CI/CD pipelines, and DevSecOps practices, we streamline development lifecycles and reduce release friction, ensuring higher quality, secure deployments, and quicker delivery overall.
Cloud Cost Transparency Aligned with FinOps Practices
Managing cloud expenses is a significant part of finance management. Our FinOps‑aligned practices bring financial clarity into cloud operations, ensuring resource optimization, cost transparency, and budget predictability. We help our clients strike the right balance between performance, innovation, and cost control.
AI Enablement for Smarter Underwriting, Fraud Detection, and UX
While Artificial Intelligence is rapidly redefining fintech solutions, we integrate AI/ML to deliver smarter underwriting, predictive fraud detection, and hyper‑personalized digital experiences. Intelligent systems we build reduce operational risks, improve decision‑making, and enable businesses to deliver more customer‑centric journeys.
Cross‑Functional Delivery Teams with Fintech Domain Fluency
We have a strong team of project managers and fintech developers with deep domain fluency, ensuring expert solutions. By partnering with us, you will get a combination of fintech application development services expertise and agile engineering, perfect for crafting solutions tailored to unique industry workflows and challenges.

Value-Based Outcomes We Delivered to Our Global Clients

Our company delivers game-changing fintech solutions that turn cutting-edge technology into tangible business results for our clients across the globe.

Explore Our Use Cases

→ 10x
Data storage cost reduction and data processing time optimization.
See Case Study
→ 5x
Cost Efficiency Boost
See Case Study
→ 5,000,000+
Successful applications underwritten in a year.
See Case Study
→ 35,000,000+
Global users of an app are enjoying uninterrupted operations.
See Case Study
→ $200,000+
Per month in operational savings by replacing legacy systems.
See Case Study
→ 10x
Performance boost due to implementing the latest financial technology.
See Case Study

John Gabbert

Founder and CEO PitchBook Data

Customers are king at PitchBook and SPD Technology shares in this mission. For the last 13 years, SPD Technology has helped us scale product development and continuously deliver the product functionality our clients need to make smarter decisions.

Get your custom fintech software with scalable architecture, secure workflows, and seamless API integration.

Fintech Development Services We Offer

From strategy to engineering, modernization, and full-scale AI enablement, our team covers the complete software development for fintech lifecycle to future‑proof your business.

Fintech product consulting & roadmap planning
Compliance & risk alignment strategy
MVP definition & market-fit advisory
Technology stack & architecture design

Purpose-Built Solutions for Dynamic Fintech Verticals

Here, at SPD Technology, we engineer scalable, secure, and regulation-compliant financial software across diverse verticals. Our solutions include digital banking, payments, wealth management, lending, compliance, and fraud prevention custom software.

Digital Banking Platforms
We design powerful digital banking platforms fueled by precise data analytics that empower financial institutions to deliver outstanding mobile and web experiences. Our financial software includes core banking integration, payments, and personalized user journeys, helping banks enhance customer loyalty and streamline operations.
Payment & Money Movement Solutions
Our fintech developers excel at payment software development and designing money movement solutions for secure and compliant transactions. The platforms we build support card processing, digital wallets, instant payments, and remittance services, enabling our clients to maintain operational efficiency and regulatory trust.
Lending and BNPL Systems
SPD Technology builds tailored peer-to-peer lending software and Buy Now, Pay Later (BNPL) platforms, enabling automated credit scoring, loan origination, and repayment tracking. We reduce risk, accelerate approvals, and deliver frictionless experiences thanks to our AI-driven approach and financial analytics services.
Financial Compliance & Automation Tools
While providing software product development services for financial firms, we deliver modern compliance and automation tools that integrate seamlessly into critical workflows. We apply our diverse skills in intelligent automation to improve reporting, transaction monitoring, and audit trails, minimizing risks and cutting costs.

WealthTech & Investment Platforms
Fintech developers in our team create wealth management platforms that empower investors with real-time portfolio management, robo-advisory services, and data-driven insights. We use our industry knowledge in Robotic Process Automation (RPA) to optimize asset allocation, client onboarding, boost transparency, and improve customer communications.
Embedded Finance & API Ecosystems
Our company engineers embedded finance and API ecosystems that allow businesses to integrate financial services directly into their products. From payment systems and lending to insurance and wallets, our API-driven architecture drives innovation, scalability, and new application monetization models across all fintech verticals.
Risk Monitoring & Fraud Detection Automation
We specialize in AI-powered risk monitoring and fraud detection software development, delivering comprehensive solutions that effectively analyze financial transactions in real-time. Our fintech developers integrate external data sources and apply predictive models to help our clients minimize losses, improve security, and strengthen trust with their customers.
Financial Data Warehousing & Analytics Tools
Our development teams provide analytic tools and financial data warehousing services to unify structured and unstructured data for real-time insights. We provide advanced dashboards, predictive analytics, and customizable reports to help fintech companies track performance, manage risks, and drive smarter, data-driven decisions at scale.

Success Stories with Global Impact

SPD Technology designs and develops transformative software solutions that drive innovation, new revenue streams, and market leadership.

See All Cases

Automating Merchant Onboarding for an eCommerce Leader

Industry: eCommerce & Retail, Finance, Payments & Fintech
Country: the USA
Team Size: 2

Saving 30 Hours of Manual Work Daily: delivered an automated solution that allowed our client to significantly shorten time expenses for onboarding merchants to the system and providing updates, letting employees of our client focus on other business-critical tasks.
Integration with POS Terminals: implemented automated workflows to register new POS terminals to the system, as well as activating, deactivating, and updating them.

View Case Study

Powering Poynt’s Growth with Scalable Payment Infrastructure

Industry: Finance, Payments & Fintech
Country: the USA
Team Size: 10

Successful and Ongoing Collaboration with Poynt: successful and long-term collaboration has resulted in multiple successful projects, including the rapid development of an all-in-one omnicommerce payment system and resulted in an acquisition by a global tech company.
Payment Processing Expertise at Scale: developed a set of cutting-edge back-end services with an API interface responsible for a full cycle of payment processing, settlement, and integration with 3rd party payment partners.

View Case Study

Reseller Portal Decoupling and Development for Poynt Open Commerce Platform

Industry: eCommerce & Retail, Finance, Payments & Fintech
Country: the USA
Team Size: 8

Ongoing Collaboration with One of the Globally Leading Payment Processors: our tech team was engaged in joint development efforts aimed at enhancing the Reseller Portal for configuring merchants’ terminals and some other solutions of the company.
Successful Decoupling and Extraction of a Reseller Portal from the Monolithic System: over a meticulous two-year period, our team navigated challenges posed by a monolithic system and multiple service dependencies, and successfully decoupled the Reseller Portal as a result.

View Case Study

Drive operational excellence and accelerate digital transformation with scalable and future-proofed fintech platforms.

About
SPD Technology

SPD Technology is a global financial software development company delivering services that turn complex financial ideas into secure products. With 650+ experts, we provide end-to-end fintech software development, from MVPs to enterprise platforms, blending domain fluency with AI/ML, data engineering, and cloud.

Founded in 2006, we’ve completed 460+ custom projects for high-growth startups, SMBs, and enterprises, partnering with leaders like PitchBook, Morningstar, and Poynt. Today, four client companies we support each generate $4B+ in annual revenue, significantly reducing their development costs through our efficient services.

We help clients build a market-ready FinTech solution faster and safer, modernizing existing financial systems, legacy stacks, automating workflows, and integrating compliant payment, lending, wealth, and risk capabilities. Our outcomes include improved scalability and performance, reduced costs, faster time-to-market, and enhanced security.

Our goal is to be the trusted technology partner behind the next generation of financial products, this is why we engineer fintech solutions with compliance-by-design controls, real-time financial data pipelines, and API-first architectures. As a result, platforms can scale confidently in regulated environments.

Certified

By Independent Organizations

Confirmed by Oracle certification, our company provides top-notch tech expertise in building and delivering cutting-edge database and cloud-based apps.

IIBA Certification signifies our proficiency in business analysis, ensuring a deep understanding of client needs and industry requirements.rn

With AWS Certification, we guarantee top-tier cloud expertise, enabling us to architect robust, scalable, and secure solutions.

Trusting your project development to us, you can rely on our project management excellence, meticulous planning, and efficient resource utilization. rn

Our Scrum Alliance Certification demonstrates our dedication to agile methodologies, fostering collaboration and iterative development.rn

Backed by Scrum.org Certification, our development team leverages the best principles of Scrum to build superior and iterative software solutions.

Trusted Globally by Innovation-Driving Companies

From FinTech industry stalwarts to industry-leading eCommerce providers, from well-established large and mid-sized businesses in a range of verticals to promising digital startups

An American financial services firm that provides investment research and investment management services
Financial data and software company with offices in London, New York, San Francisco, and Seattle.
All-in-one omni commerce payment solution with contactless, fast, secure, and safe payment processing
One of the most recognizable landmarks, a company that specializes in innovative travel and hospitality services
SaaS XSPN – Next Generation Application & Cloud Security Posture Management
A leading tech-enabled insurance company that provides workers’ comp coverage to small businesses

Stay ahead of competitors with secure, scalable fintech solutions built for success.

FAQ: The Most Relevant Questions on Fintech Application Development Services

What Are the Main Challenges of Implementing KYC/AML in Fintech Applications?
Implementing KYC/AML in fintech solution development is all about striking a perfect balance between seamless user experience, strong security, and strict regulatory compliance. To deal with these challenges, several key features should be implemented, including identity verification, transaction monitoring, and risk scoring.
What Are the Key Areas of Fintech Software Development Services?
These services are aimed at delivering payment solutions, digital banking platforms, lending systems, wealth management apps, and fraud prevention tools. As the financial regulations evolve, developers focus on constant improvement of scalability, security, and compliance of solutions.
Why Is It Important to Create PSD2 Compliant Fintech Software?
It is vital because PSD2-compliant fintech software development ensures that applications meet EU standards for secure payments and open banking. Compliance is improving customer trust and expanding market opportunities, as it allows financial institutions to connect safely with banks and third-party providers through APIs.
How Do You Build Fintech Software from Scratch?
Software development for fintech is a complex process that starts with business analysis, regulatory mapping, and selecting the right technology stack. Development teams then design user interfaces, implement secure transaction flows, and integrate APIs for payments, KYC, and compliance. Next comes ongoing testing and optimization that guarantee a reliable launch.
Why Choose Fintech Development Companies with Experience in AI Integration?
Fintech software developers with deep AI expertise can deliver innovative, data-driven solutions such as fraud detection, predictive analytics, and personalized financial services. This expertise ensures that fintech software remains competitive in a fast-evolving environment.

Alex Samano

Co-Founder & CEO, Mogami App

SPD Technology has done a great job of maintaining the lifeblood of their codes. They’re transparent with pricing models and deliver within budget. Their dedicated teams act as an extension of the partner’s company. Responsibility and a commitment long-term partnership are two hallmarks of their work.