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“The future of finance is digital.”

– Ginni Rometty

Do you remember the old, bulky piggy bank where you saved some extra change, hoping to one day be free from debt? The world moves very quickly these days, and our money needs to keep up. FinTech apps are sleek digital vaults that let you handle your money while you’re on the go.

Financial technology apps like Revolut make it easy to pay your bills, change currencies, and invest your extra change. That’s pretty cool, right? One question that may be going through your mind if you’re an entrepreneur with a great FinTech idea is how much does it cost to develop an app like Revolut?

Get ready to unlock the keys to creating your FinTech app because we’re about to do just that. It will discuss the things that affect the cost, key features, factors and how you can make free money like revolut.

So, let’s begin!!

What is Revolut App?

Revolut is a fintech app that enables users to manage your money in multiple currencies. Users can send money to other countries, buy things in other countries, and even sell stocks.

Also, they can manage it all from your phone, so it’s pretty much like a O2 digital banking account with extra benefits. The exchange rates at Revolut are good, and they can use their debit card to buy things in over 120 countries, often without any fees.

Thus, if you are fascinated by Revolut apps and want similar app development, it is best to hire a fintech mobile app development company. They will help you turn your fintech app idea into reality.

Is It Worth To Invest In Revolut App Development?

In 2023, more people used Revolut than any other online bank in Europe. Most of the people who use Revolut are in the UK and Romania.
Between 2018 and 2024, Revolut’s customer base grew very quickly. In March 2024, the company reached a milestone of 40 million users. The revolut bank stock could have more than 47.5 million customers by December 2024 if it keeps getting new ones like it is now.
Between 2018 and 2024, Revolut’s customer base grew very quickly. In March 2024, the company reached a milestone of 40 million users.
It is thought that the Global Fintech Market will be worth $312.92 billion in 2024 and will grow to $608.35 billion by 2029.

It’s clear that Revolut’s finance solutions have become very popular very quickly. Because of this, new businesses have been able to put money into developing the Revolut app for mobile devices. Still not convinced? Just look at all the revolut benefits of creating financial apps down below.

# Large and Growing Market:

Compared to regular banks, FinTech is expected to bring in three times as much money by 2028. Financial apps that are easy to use are clearly in high demand.

# Disrupting Traditional Finance:

Apps like Revolut offer a simple, mobile-first approach that people who are good with technology but find traditional banks hard to use. You can come up with new ideas to meet the needs of this growing group of people.

# Feature-Rich Functionality:

Revolut’s success comes from the fact that it has all of these features in one app: planning, spending, exchanging money, and investing. This ease of use draws people who want a complete financial solution.

# High Valuation Potential:

The fact that Revolut is worth about $33 billion shows how much money you can make if you can get a big share of the market.

What Is the Cost To Develop Apps Like Revolut?

On average, the cost to build a fintech app can rely on multiple factors. For example, app intricacy, features, tech stack, app design and development team. Also, your project requirement totally affects the fintech app development cost.

On average, you can expect to pay $10000-$25000 for the Revolut app development. Let’s look at the ballpark estimate of Fintech app development:

Factor / Integration	Cost Range ($)
Basic UI/UX Design	$1000 – $3000
Frontend Development	$2000 – $6000
Backend Development	$2000 – $6000
Database Setup	$500 – $1500
API Integration	$1000 – $3000
Authentication System	$500 – $1500
Push Notifications Setup	$500 – $1500
Analytics Integration	$500 – $1500
Version Control System	$200 – $500
Deployment Setup	$500 – $1500
Testing and QA	$1000 – $3000
Project Management	$500 – $1500
Contingency (10-20%)	$800 – $5000
Total Cost	$8000 – $25000

Besides, you may measure the cost to create a fintech app akin Revolut with the below formula:

Total Revolut App Development = Developer’s Hourly Rate * Development Team

So, now you know the Revolut app development cost, it is time to consult with a custom mobile app development services provider to transform your Revolut-like app idea into reality. But before you must be well-versed with the few factors that are responsible for the cost fluctuation.

Factors Affecting The Cost To Build Fintech Apps Like Revolut

Factors play a crucial role in fluctuating the cost to build fintech apps like Revolut. So, below are the essential factors you must check out:

● App Complexity

A FinTech app such as Revolut might have varying degrees of complexity depending on the features and services it provides. Developing apps like Revolut that integrate advanced features.

For example, multi-currency accounts, and AI-driven financial insights can significantly increase the cost as compared to simpler apps with minimal features.

● Location of Development Team

The choice of mobile banking app development services provider and where they live can have a big effect on the cost to make a FinTech app.

Experienced app developers like Revolut who know how to make FinTech apps may charge more, but they provide the best quality and efficiency.

So, outsourcing development lets companies use specific knowledge. It shortens project timelines, and makes the whole process more efficient.

● Platform Compatibility

Picking the right app platform affects the cost and time to build an app like Revolut. Creating different native apps for each platform needs specific development work.

Thus, cross platform development solutions save money, but they might compromise performance and the user experience.

● Features and Functionality

A finance app development cost is heavily influenced by the number and complexity of its features. It’s cheaper to add simple features like registering users and watching their accounts than to add more complex ones like processing transactions in real time or connecting to outside financial systems.

● External Dependencies

If an app like Revolut needs to connect to old banking systems, it might take more time and money to learn how to use and adjust to these systems. To follow the rules about money in different areas or countries might need more customization and legal help, which can raise the cost of growth.

● App Maintenance

Maintenance is an ongoing process that is needed to keep the FinTech app safe, up to date, and working at its best. It usually involves factors like fixing bugs and putting in place software updates, putting in place security patches, and adding new features to make things work better. This ongoing work raises the cost to create an app like Revolut by making sure the app meets changing user wants.

As a product manager, it’s been hard for me to make a fintech app that people really want to use. It wasn’t an easy trip. My team and I built a few different budgeting apps before we finally came up with one that worked really well. I’d like to share some useful steps to make popular apps like Revolut that teach people about money.:

Mohit Nag (Project Manager)

Must-have Features To Build Fintech Apps Like Revolut

The development process always starts with a thorough study of the app’s requirements to figure out what it can do. Revolut is a good example of a business that has chosen to offer online fintech services.

That’s why the following digital banking app development features should be given extra attention when the team starts to make an app like Revolut:

Features	Description
User Registration	A streamlined process for users to create accounts using email addresses, phone numbers, or social media logins.
Multi-Currency Wallet	The ability to hold and manage funds in various currencies within a single account with ewallet app development.
Currency Exchange	A user-friendly interface to exchange currencies at competitive rates with real-time exchange rate updates.
Free ATM Withdrawals Abroad	Access to a certain amount of free ATM withdrawals while traveling internationally.
Spending Tracking	Track your spending habits and categorize your transactions for better budgeting.
Budgeting Tools	Features to set budgets, categorize expenses, and gain insights into spending habits.
Smart Budgeting	Automated tools that analyze spending patterns and suggest areas for optimization or saving opportunities.
P2P Payments	With a P2P lending app development, seamless transfer of funds between users of the app.
Payment System Integration	The payment gateway integrations options like Apple Pay and Google Pay for contactless payments.
Accounts and Cards Management	Convenient features to manage accounts, freeze or unblock cards, and view transaction history.
Bill Payments	Facilitate payments of bills directly through the app.
Investment Opportunities	Enable users to invest in stocks, cryptocurrencies, or other financial instruments (depending on the app’s offerings).

Best Fintech Apps Like Revolut In the Market

Apps Like Revolut	Available Platform	Downloads	Ratings
Wise	Android \| iOS	100M+	4.7
Acorns	Android \| iOS	100M+	4.1
Chime	Android \| iOS	100M+	3.9
Mint	Android \| iOS	5M+	4.1
EveryDollar	Android \| iOS	1M+	3.4

1. Wise

Wise is a service that lets you send and receive money between countries for less than what banks charge. When you use a fintech app like Wise to send money, it often marks up the exchange rate, which costs you more.

2. Acorns

Acorns is a fintech app that focuses on financial education rather than traditional financial transactions or like Revolut banking services. An app like Acorns uses gamification and a reward system to incentivize users to learn about personal finance.

3. Chime

A mobile banking app like Chime offers a variety of features that are typically found in traditional bank accounts, such as checking and savings accounts, debit cards, and mobile banking. However, Chime also offers some unique features that are not always found in traditional banks.

4. Mint

Mint is a fintech app that offers a variety of financial products and services. For example, mobile banking, credit building tools, cash advances, and investment options. The money budgeting app like Mint is very useful for users as it helps them in managing their expenses.

5. EveryDollar

A fintech app like EveryDollar can help you to track your spending more effectively. It makes sure that users are not spending more money than you are bringing in.

How To Create Fintech Apps Like Revolut?

Creating an app doesn’t happen overnight; it takes time and money. As a result, fintech startups should start by coming up with an idea and a niche. The process of making a financial app goes through a few steps. It only takes six steps to build fintech apps like Revolut.

1. Validate Your App Idea

Validate your financial app idea with a fintech app development services provider carefully before you start developing it. Do market study to find out what solutions are already out there, what their pros and cons are.

This study will help you improve your app idea so that it gives your target users something they can’t get anywhere else and solves a problem they are having.

2. Do Market Research

Market research is important if you want to know more about your competitors and the people you want to sell to. So, figure out if your ideal customers are—young workers, frequent travelers, or people on a tight budget. See what your competitors are selling, how they’re pricing it, and what their customers are saying about it.

3. Design UI/UX

Now you must focus on making a design that is clean, simple, and easy to use. The navigation should be easy to understand so that users can do important things without any problems.

UX is a very important part of keeping users. Make sure that all of the app’s features work quickly and easily. However if it is not working properly, you should take help from an API development company and think about how the user will move through it.

4. Create an MVP Model

If you want to make a financial app, MVP app development is a simple version of the app that has all of its main features. It is a great way to see how your idea works in the real world.

If an app doesn’t make money in the end, the owner can either give up on it or change it for no extra cost. And if it really does work with its intended group, it’s easy to make it bigger. You won’t have to do much to get more customers and money.

5. Test & Deployment

To make sure your app works, is safe, and can grow, you need to test it thoroughly. First test it internally, then test it with a small group of people in beta mode.

This lets you find and fix any bugs or problems with how the app works before it goes live to everyone. Once testing is done, put your app on the right app stores with clear descriptions, eye-catching images, and the right keywords to get the people you want.

6. Maintenance & Update

Keeping your app up to date and maintaining it is an ongoing task. Always keep an eye on user comments and app performance metrics to find ways to make things better.

By availing banking app maintenance services, you can fix bugs and make security changes right away. In this way, you can keep your app competitive and give your users long-term value.

Technologies Involved To Make An App Like Revolut

To begin, picking the best tech stack is important when making a FinTech app like Revolut. The React Native app development would be the best when it comes to developing a mobile app. Let’s look at the newest technologies that are used in different kinds of apps.

Component	Technologies
Frontend	React Native, Flutter, Swift, Kotlin
Backend	Node.js, Python (Django/Flask), Java (Spring Boot)
Database	SQLite, MySQL, PostgreSQL, MongoDB, Firebase
API Integration	RESTful APIs, GraphQL, SOAP
Authentication	OAuth, JWT
Push Notifications	Firebase Cloud Messaging, Apple Push Notification Service
Analytics	Google Analytics, Firebase Analytics
Version Control	Git, GitHub, Bitbucket
Deployment	Google Play Store, Apple App Store, TestFlight, Firebase App Distribution

Ways To Monetize A Fintech App Like Revolut

If you’re a business owner looking to monetize your Revolut-like app, you’ll be happy to hear that there are some essential monetization models for FinTech apps like Revolut. Let’s check out:

● Subscription Model

You can give users a free trial and then charge them if they want to keep using it. For access to a product or extra benefits, subscribers pay a set fee that is charged at regular times, like once a month or once a year. A lot of people using your app will mean money for you.

● Financial Transaction Fees

If your fintech app has a virtual card or bank account, you can charge a fee for moving money between accounts. Because financial apps let users do more than just send money, like change currencies and pay for third-party services, financial transaction fees are the best way to make money.

● In-app Advertising

In order to make a steady income from the app, ads are a great choice. Users have said bad things about advertising banners or short movies, but they are still used almost everywhere.

You can keep people from being unhappy by putting signs in the app where they won’t get in the way. In any case, the advertising pays to be seen and to be placed.

● Premium Services

You can offer paid services or extras, like personalized financial advice, faster customer service, or more advanced analytics tools. Premium services are for people who want custom solutions and are ready to pay more for better features or ease of use.

● Business Collaboration

An app like Revolut can make a lot of money by collaborating with other businesses that offer related financial services, like insurance app development or investment goods.

Through partnerships with other companies, it can give its customers a wider range of revolut online banking services and earn money for each sale made through its app.

Let’s Create Your Own Fintech Apps Like Revolut!

If you want to start a FinTech business, you have a great chance of making it work and making money. It’s likely that the idea to develop a FinTech app like Revolut will catch on in this world that is always changing.

Since we’ve already talked about the steps, costs, time, features, and many other aspects of making FinTech apps like Revolut, we won’t go over them again. It’s clear from these facts that these apps need to have a strong database and be easy to use.

Finally, businesses should hire a mobile banking app development company to design FinTech apps similar to Revolut with unique features and top-notch quality. They will implement your ideas and convert them into fully functional apps.

Frequently Asked Questions!

1. How Much Does It Cost To Build Fintech Apps Like Revolut?

The cost to develop fintech apps like Revolut can be around $10000-$25000. However, the cost can be increased depending on the app complexity, features and app design.

2. How Long Will It Take To Create A Fintech App Like Revolut?

The time to build a fintech app like Revolut may depend on your project requirements. A simple fintech app may take 2-4 months while a complex fintech app can increase the development time.

3. What Are the Benefits of Fintech App Development?

When you develop a fintech app, you will benefit from it. Here are the benefits:

Increased convenience
Enhanced security
Improved efficiency
Faster decision-making

4. What Are the Advanced Features of Apps like Revolut?

The following features must be implemented by the utility app development company to offer digital financial services similar to Revolut:

Accounts and cards management
Payment system integration
P2P payments
Smart budgeting
Advanced features

5. Why Must You Choose Us For Fintech App Development?

Dev Technosys is a good mobile app development company that makes the best apps for clients for any type of business sizes. This thing might help you decide if you’re still not sure: