We provide custom financial software development solutions which are unique, innovative and cutting-edge to all kinds of financial institutions which comprise a list of various small and large sized enterprises, fintech organizations, banks, insurance & reinsurance companies and many more. Regulatory requirements, security and connectivity are of utmost importance in the finance domain and we make sure our solution covers it all.

Our Expertise

Our financial software solutions automate business processes for banks, insurance and other fintech companies and provide them secure, regulatory compliant and scalable platforms to run their business efficiently. For over two decades as a financial software development company, we have created loan processing solutions, forex applications, pension systems, insurance underwriting, policy and claims management systems, ERPs and many more.

Consumer Finance

We create solutions which help credit unions process loans and manage customers efficiently.

Insurance, Claims & services

Our solutions make buying insurance, policy handling and claims management effortless.

Forex Solutions

We develop custom corporate and personal forex solutions to meet currency exchange requirements.

Consumer Finance

Paperless lending system which integrates different loan departments via custom workflows to enable seamless communication, reduce discrepancies and improve customer experience. With additional advantage of centralized document management and simplified approval process in our solution improves turnaround time.

  • Online loan request & Pricing
  • Document Verification
  • Digital Signature
  • Loan Level Accounting
  • Online Loan Application
  • Automated Assessment
  • PreClosing
  • Secondary Marketing
  • Loan Details           
  • Conditions           
  • Closing           
  • Loan Extension
  • Customer CRM
  • Bank Account Validation
  • Underwriting
  • Notifications
  • Pipeline Details
  • Credit Check
  • Payment to Bank Account
  • Strong User Security
  • Document Management
  • Approval Process
  • Automated EMI Deduction
  • Customer Referral

Forex Solutions

Web based fintech solutions that can seamlessly cater to FOREX needs, quicker money transfer, regulatory requirements and business complexities of the industry is what we aim to offer. Our financial software development services integrate multiple third party systems in a heterogeneous environment seamlessly that improve business efficiency.

Online Forex Platform

  • Multi-Terminal Live FX                      
  • Spot and Forward Trade           
  • Direct Debit via bank Account, Credit Card
  • Trader accounts with Advance Features
  • Market Orders and Limits                      
  • Trade Limits And History                      
  • Traders Quotes Management
  • Mass payment Solutions                      
  • Beneficiary Management                      
  • Security and Multi-Step Authentication

Currency Exchange POS

  • FX Data Management                      
  • Central Database and Rates Management                      
  • Cash Register Transactions                      
  • Currency Exposure Management
  • Currency Exchange via Cash, Credit Card and Travellers Check
  • Wholesaler Features                      
  • Liquidity & Risk Management                      
  • Secured Synchronization of Cash Registers
  • Regulatory Compliance                      
  • Security and Privacy of Personal Data

Pension Funds Solution

Our Pension Funds Management solutions helps users to yield maximum benefits from their pension scheme. It allows users to easily access scheme-specific funding information, risks involved, assets and liabilities in a unified manner. We ensure all the functionalities are automated, performed in real-time and secured.

  • Secured Employees and Employer account creation process with mandatory details as per government laws.
  • Employee pension certificate, risk profile management, investment funds details and estimated profits.
  • Custodian bank integration with employer account and distribution of monthly pension to employees.
  • Preserved Account management for unaccounted money and investment portfolio of it.
  • Charge, Lien and pledge facility for employees who wants to take loan against their pension.
  • Fund performance comparison and periodic investment switching facilities to employees.
  • Back office for custodian banks and portfolio management for fund managers of custodian banks.
  • Government laws compliance module as well as public enquiries and complaints module.

Digital Insurance

Life | Long term care | Disability

For Advisors

Leverage our insurance software development expertise in creating software solutions for financial advisors to help them meet the life insurance needs of their clients. Allows clients to easily choose from a range of products like life insurance, long term insurance and disability coverage. The single sign-on and e-signature features keep the documentation process streamlined. It also allows advisors to calculate estimated insurance, its potential insurance coverage that a client can receive using an inbuilt calculator with a comparison sheet displaying insurance products from leading institutions.

For Consumers

Our white label solutions make it possible for credit unions and banks to sell life insurance on a single platform. The institutions have to simply approve which insurance they would like to sell on the platform and our software integrates it. This gives the customers a holistic view to look at different options from different providers and the power to choose from a wide range of options. At the same time, it increases the visibility and sales revenue of the insurance products offered by different institutions.

Analytics & Insight

Data analysis and tracking business needs at one place via dashboards created by our financial software development team of experts help financial institutions in gaining insights from current business scenarios. It also tracks the status of clients’ policies, preventing policy expirations and lapses along with helping in cross selling other financial products. Using this system, users can build stronger relationships with clients and generate higher business revenue streams.

Corporate Policy & Claims Management Software

Claims Management

Manage and evaluate claims in a hassle-free, cost effective way using unified Claims Management Solutions. With information at your fingertips, check financial information and gain valuable insights within a click.

  • First notice of loss maintenance          
  • Custom Workflow routing          
  • Claims Correspondence & Management          
  • Claim Chronology                                              
  • Subrogation & Litigation                                                             
  • Payments                                                             
  • Diary, Notes and Calendar                                    
  • Standard and Bespoke Reporting
  • Audit history                                                             
  • Payable & reconciliation                                 
  • Secured Document management
  • Integration with EDI, ISO, CMS and many more
Policy Management

Make business critical affairs your priority by leaving it on us to develop an automated, high productive, efficient and compliant software solution that assists your business in every step of policy management

  • Quote to issuance workflow                                 
  • Bulk policy buying                                 
  • Payment management                                 
  • Custom Rating Engine                                 
  • Lost Cost Tables                                                                  
  • Direct & Agency Billing
  • Audits Module                                                                  
  • Renewals for underwriting staff
  • Jurisdiction and employee category
  • based policy management                                     
  • Compliance with Governing laws                                     
  • Vendor Management

Reinsurance

Reinsurance solutions automate and simplify the process of managing contracts and settlements, making it easier for the primary insurer and insurance companies to keep a real-time track of business operations. Get the power to control, audit, maintain and analyze client’s data on a single platform using advanced reinsurance solutions.

  • Audit System                                     
  • Treaty & Facultative
  • Claim Payments & Major Loss
  • Cedant & Brokers Management
  • Technical Accounts
  • Treaty Management Workflow
  • Current Accounts
  • Financial Accounts
  • Treaty Wise Accounting
  • Document Management
  • P&L Accounts for Treaty & Fac
  • Treaty Renewals & Modifications
  • Supports General, Life & Medical Insurance
  • Retro Protection with Retro Treaty & Fac
  • Coverage Protection & Liability Limitations
  • Report Design & Subscription

Fintech & Insurance Case Studies

Discovering and analysing the nitty-gritty of each project to achieve measurable outcomes
is what we have done as a leading financial software development company.

  • Online Forex Solution
    With years of unparalleled experience in foreign exchange and international trading, our UK based client wanted to address multiple financial needs of market through cutting-edge solution. Client used our financial software development services to build an Online Forex Exchange Trading solution that offered users proactive competitive rates, flexibility and secure international payment system.
  • Payment and Cash Management
    Successfully comprehending client’s requirement is a key to business profitability. A well-known German banking solution provider accomplished large business benefits with enhanced application features developed by Sofolabs. Our skilled custom software developers built a Payment and Cash management system to boost client’s productivity, offered transparency and improved consumer base.
  • Reinsurance System
    We as a custom financial software development company partnered with a reinsurnace agency to better manage large data, various types of insurance, premium calculation, claims, and accounts. Our holistic solution covered everything from underwriting, claims, technical and financial accounts, dynamic dashboard and reporting with high security and scalability.

Financial Software Development FAQs

How is the Financial Applications Development Process initiated?

For any type of financial applications' development, we proceed with a simple and proactive approach. The development of financial apps is divided into five fundamental steps:

  • Conducting research of the requirements
  • Developing a prototype
  • Creating and designing
  • Evaluation
  • Application Deployment

What type of services do you offer as a Financial Software Development Company?

As an experienced Financial Software Development Company, we work in developing secure and faster fintech mobile and web applications through services such as

  • Fintech mobile and web application development
  • CRM Solutions and business Intelligence
  • Intelligent Accounting
  • API Programming and software Integration

What are the types of Fintech Software you develop?

Fintech as a service offering is expanding, and there are numerous types of software applications you can build for your finance business. Following are the types of Fintech software we cater to clients Digital Lending Apps

  • Digital Lending Apps
  • Insurance Software Solutions
  • Payment Processing Software
  • Expense Management Software
  • Blockchain Technology
  • Crowdfunding Platforms
  • Budgeting Apps
  • Investment Management Solutions

What does a financial software developer do?

Financial software engineers are responsible for designing, developing, testing, updating, and maintaining fintech software used by various financial institutions. We can offer you a dedicated team of financial software engineers that have experience with Blockchain, IoT, cloud, DevOps, and other technologies.

How much time does it take for you to develop a Fintech Software?

The time period it takes to build a software or app is determined by its complexity and requirements. As a financial software development firm, we begin by gaining a thorough understanding of our customers' requirements before developing a complete roadmap based on their business goals and objectives.

How much does development cost for a Fintech app?

Financial software development is a complicated process, and it's difficult to estimate the entire cost without understanding the specifics of the project. For further information feel free to get in touch with us at info@sofolabs.in

How do you ensure data safety while developing an application?

We are a trustworthy Financial application development company.We develop apps app keeping in mind all the quality parameters and standards. We have an NDA signed during the initialization of the project which states that no information will be leaked to any third party. All this assures security from growing financial threats.