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Fintech Developers: Do You Need Them?

Steven Sanders

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The Fintech Hunt For Developers

What stresses out fintech finders at night? Hiring and maintaining the quality of new fintech app development talent. Sure, acquiring decent staff has always been a difficult process, but obtaining developers for your project is as can become a shopping frenzy.

Unlike the retail industry where fear-buying with customer discounts is the norm, the financial spending for fintech companies increased in employee salaries by 25% each year. Startups have to spend the additional cash to secure the talent, Fintech Files stated.

But counter offers have been made for some developers. Some fintech developers would tell us that they lost a few potential employees due to better offers. “For larger companies, it’s easier to spend $10K on an experienced developer. However, our smaller fintech companies don’t have that luxury” the developers said.

So what can you do to find great developers within your budget? We can help you with that. Continue reading to learn 3 techniques the professionals use to hiring credible developers on your team.

Background Research

Before hiring a fintech app development team for your startup, you should consider doing some background research to assess the quality of their work and credibility. You should look at their blogs and websites to get detailed information on their services.

Try to look for a portfolio of work to see if they have completed similar jobs that your organization requires. For instance, if you need a fintech app that helps with investing in exchange-traded funds, see if the developer has created investment apps for different clients. You should check their social media profiles to make sure they have good relationships with their customers.

Fintech Developers

Making innovative fintech applications that are valuable requires developers that have fintech expertise. You should get a developer that has a great understanding of the technology but also has an extensive knowledge of the finance industry.

Since the international financial crisis in 2008, there is a been an increase in banking reforms. You’ll want a developer to stay on top of these reforms when developing the app to make sure they meet the desired requirements.

Diversified Skills

Developers are already a costly investment, so you’ll want to find one who is skilled in multiple areas. And some development projects require multiple skills to be completed correctly. For instance, if you’re making a crowdfunding platform, you’ll have to design it with a programming language that works with other software.

You also have to make sure that the developer that you choose has good programming and design skills. Doing this will make sure that the software they create meets your expectations. Fintech developers are good at working with large sets of data, which is ideal if you need projects that require data analytics and big data integration.

Conclusion

Overall, finding the right fintech app development team will take some time. But by slowly going through the hiring process and focus on quality, not quantity, you’ll be fine. Conclusively,  gauge the quality of the team so that your apps can improve the value of your business.

 

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