How Much Does It Cost to Build a Mobile Banking App Like Revolut?

Summary

Building a mobile banking app like Revolut banking app lets offers a massive opportunity in the growing digital finance space. With apps features like seamless transfers, crypto trading, budgeting tools, and multi-currency support, such apps enhance user experience and financial control for financial institutions and their customers. App development costs can range from $70,000 to $150,000+, influenced by complexity, platform, and security needs. QSS Technosoft stands out as a trusted FinTech partner with proven expertise in creating secure, scalable banking solutions. Starting with an MVP and using cross-platform tech can optimize development time and budget. Ultimately, with the right approach and partner, you can launch a next-gen banking app that competes globally.

Introduction

Have you ever fantasized about managing your finances from the comfort of your couch and not going out to stand in large queues? How about we say this could happen with just a few taps on your phone? Amazed? Or super amazed?This is the reality of all those millions of users who correctly use mobile banking app such as Revolut. But behind such ease, did you ever wonder how much effort and time it would have taken to build such a smooth, sophisticated financial institutions? One important factor that influences the cost and development process is the banking app type, as different types require varying features and complexities.

Today, it's no lie that the mobile banking sector has been seeing a huge boom. It's been projected that the market value of the mobile banking sector will reach over $1873.23 million by 2030. 

Revolut stands as a pioneering leader in the digital banking revolution, transforming how millions manage their finances globally. With over 10 million users worldwide, Revolut continues to drive financial innovation and reshape personal finance apps .

It is because of the digital lifestyles that this surge fueled up. Moreover, Revolut provides a user-friendly and sleek interface, with features like commission-free currency exchange, instant global transfers, and so much more. These features provided by Revolut are a clear instance of how and why these apps are redefining personal finance apps, unlike traditional forms of banking.

Imagine the last time you grappled to understand a banking statement. Did you feel frustrated at that time, or was it a seamless job for you to read those mind-boggling bank statements? Well, that was something we wanted to avoid ever coming across, and hence, Revolut. With this super seamless mobile banking solution and user-friendly interface, you can keep track of your expenses and clear all your financial bills with ease in just one click. And guess what? All this happens on your smartphone itself. How did it sound to you?

Are you amazed by the potential these mobile banking apps provide? Do you want to create one of your own and earn like a crorepati? 

With QSS Technosoft’s FinTech expertise, you can transform your banking vision into a next-gen mobile experience like Revolut.

In this blog, we will reveal everything about these apps, how they can be created, their benefits, and the cost of building your own. 

Read also:- How to Develop a Mobile App like JIO TV?

Why Invest in a Mobile Banking App in 2025?

Rise in Cashless Payments and Digital Wallets

The shift towards cashless payments is accelerating rapidly in 2025, driven by convenience and safety concerns. Digital wallets are becoming the preferred method for everyday transactions history , enabling quick and secure payments app.

This trend creates a growing market for mobile banking apps that support seamless digital payments app and other financial services. Investing now positions your app and app owners to capitalize on this expanding user base.

Market Demand for User-Friendly Financial Platforms

Consumers increasingly expect intuitive and accessible financial platforms that simplify money management. Mobile banking apps with user-friendly interfaces meet this demand by offering easy navigation and personalized experiences.

Providing such platforms enhances user satisfaction and retention. Meeting this market need is essential for staying competitive in the global fintech market and delivering exceptional financial services.

Opportunity to Gain Loyal, Digital-Savvy Customers

The rise of digital-native customers presents a prime opportunity for mobile banking apps to build lasting relationships. These users prefer apps that offer convenience, real-time insights, and innovative features. App owners who understand these preferences can tailor their offerings to attract and retain this valuable demographic.

By delivering tailored financial services, apps can attract and retain this valuable demographic. Loyal digital customers drive sustained growth and brand advocacy.

Compliance, Security, and Personalization as Differentiators

In 2025, regulatory compliance and robust security measures are non-negotiable for fintech application development cost .Ensuring financial data protection builds user trust and prevents costly breaches.

Additionally, personalization features like AI-driven financial advice differentiate apps in a crowded market. Together, compliance, security, and personalization create a competitive edge that appeals to discerning users.

Understanding Mobile Banking App like Revolut

Today's age is filled with digitalization, whether digital transactions history or even handling finances digitally, skipping those huge and boring baking queues. Mobile banking apps have become ubiquitous. Gone are the days when we needed to stand in a queue and read those super confusing banking statements to manage our finances.

Today, in the digital era, with just a few taps on our phone's screen, you can manage your money easily. One example of such an app is Revolut. But have you ever thought about what goes behind the scenes of these evolved financial mavericks?

Mobile banking apps such as Revolut have become synonymous with innovation when managing personal finances. Moreover, their manageable interface and features like commission-free currency exchange and seamless global transfers are just a few reasons why people prefer them in a good amount. Behind all this is the expertise of software development services that enable the creation of these sophisticated and secure financial platforms.

Whether you're a professional looking to simplify the banking landscape or even an entrepreneur looking to make money while simplifying the procedure, you must be curious, right? Curiosity can be anything, from how to build a mobile banking app to what the cost would be to build a mobile banking app like Revolut. These queries are genuine, and hence, their answers would depend upon several factors.

Example

Let's suppose you are on a trip to Europe. In addition to the Revolut-like app, customers can remove unwanted roaming charges. Conveniently, you can easily switch from your home currency to euros at a more reasonable exchange rate for the purchase of stuff at the local stores. You can make a payment processing by phone and split the dinner bill with your friends—all in a safe and cool platform.

Benefits of Investing in Mobile Banking App Like Revolut

The mobile banking revolution is in full swing, and as far as experts can tell, it's continuing at a swift pace. Investing in a mobile banking app like Revolut can be a strategic move for several reasons: Investing in a mobile banking app like Revolut can be a strategic move for several reasons:

Offer Competitive Advantages

Mobile applications related to banking can provide functions that are rarely available in old established banks. They offer enhanced accessibility, allowing users to manage their finances anytime and anywhere with just a smartphone.

Additionally, these apps development often incorporate cutting-edge security measures to protect sensitive user data, ensuring safe and reliable financial transactions. This combination of convenience, innovation, and security makes mobile banking apps development an essential tool for modern financial management.Mobile applications related to banking can provide functions that are rarely available in old established banks. Consider lower fees:

Example

Consider the situation of a frequent traveller who saves hundreds of dollars each year on currency exchange and international money transfers through the features of their mobile banking application. The conventional bank system was accustomed to charging high commissions for such transactions, so now this app has disappeared, transforming it into a preferable option for travellers.

Enhanced User Experience 

Mobilization apps enable users to have an experience that is in contrast to how a website operating bank is with a user-friendly and intuitive user interface. This could consequently bring about high customer satisfaction and engagement levels.

Example

Someone with a limited ability to understand such clumsy online banking is given. On a mobile banking app development such customers can query their balance, transfer funds, and pay the bills quickly. The app's clean design and user-friendliness features make it a delight to manage funds using the application, in contrast to the annoyance of cueing with their bank's platform.

Integrated Financial Services 

Apps can work more into advanced banking functions rather than be limited to basic banking tasks. Visualize a range of fund proposals, budgeting tools, and shared bill options – all within the same app. Users who appreciate simple things and saving time checking their finances will be attracted to this central point for managing money. This approach especially benefits financial institutions aiming to provide comprehensive services and enhance customer engagement.

Example

A person who wishes to contribute to savings without a background in sophisticated investment volumes. Imagine an app installed on a phone that allows students to invest directly from their phone, with step-by-step explanations and user-friendly features for investment tracking and investment management. It has always been challenging for students to take on this issue. Furthermore, splitting bills with friends via the app lets you stop struggling with math and leave the balance to calculate with the software; each person will put the money for the bill they owe independently.

Budgeting and Tracking Tools 

Financial management daunts many people, and they often don't do it properly. The app may provide budgeting tools to categorize transactions, set spending goals, and analyze spending habits, which will not only give users the power to make well-informed financial decisions but also help them plan to save better in the long run. These features are especially valuable for financial institutions aiming to enhance user engagement and provide comprehensive personal finance support.

Example

A college student can benefit from your one-stop solution for managing the spending on textbooks, groceries, and entertainment with your app's budgeting tool. This lets them get close to their budget and buy things but does not make them overpay.

Simple and Intuitive Design: 

The app's friendly, user-orientated interface means even users with limited technical skills can use it. Incorporating advanced analytics and AI-driven insights can further enhance user engagement by providing personalized financial advice and proactive alerts.

Additionally, ensuring seamless integration with various online banking services and payment gateways is vital for a comprehensive user experience. Finally, prioritizing scalability in your app’s architecture will allow it to grow alongside your user base and adapt to evolving financial technologies.

Example

Ponder the scenario where someone without knowledge about complicated app development for finances wants to build one. The fact that your app's interface is very basic, with obvious icons and labels, helps the users perform operations such as transferring funds or paying bills effortlessly, giving the app a positive impression on the user.

Fast and Efficient Transaction

The app should allow users to make bill payments and do transfers faster than other online payment services.This ensures a seamless and efficient user experience, saving time and reducing friction in everyday financial tasks. Prioritizing speed and reliability in payment processing is essential for gaining user trust and satisfaction.

Example

A busy professional may pay his most existing bills in the most efficient way possible using your app's efficient bill payment system. Customers' transactions are completed at lightning speed while they are kept safe from fraud or scammers, thus saving them time and energy.

Read also :How to Develop a Mobile App Like Snapchat: A Comprehensive Guide

Key Features of Mobile Banking apps like Revolut​

The advent of mobile applications meant that one could bank from anywhere at any time, making this feature an integral part of financial management for financial institutions. Nevertheless, many apps are solely operational and unable to offer one of Revolut's kind. These mere apps are popular but need more later functionality. The solution is surely embodied in its feature set.

Let's explore some key functionalities that can elevate your mobile banking app development and attract users: 

Seamless Account Management

This feature allows customers to track their balances, see their last transactions, and even download the statements directly from the app.

Example

Imagine young entrepreneurs checking their account balances with their phone to ensure they have enough money for the upcoming business expenditure.

Effortless Money Transfers 

Sending and receiving pesos for local and foreign transactions should be as simple as ABC. This is particularly convenient for people who need to send money repeatedly, like freelancers or those whose families live abroad.

Example

Let's say how a college student is sending money back to their parents who reside in a completely different country just through the app with a touch.

Frictionless Bill Payments

Users can make bill payments and set up reminders from this app, so there is no need for paper checks and missing due dates. This makes finance management routinely easy for buying persons.

Example

This worker has secured all bills and automatic payments for rent, electricity, or other ongoing development costs.

Intelligent Budgeting and Tracking 

The app must create categories and amounts of spending, motivate users to set saving goals and provide useful info reports to help users be aware of their financial habits. Therefore, intuitive digital banking provides people with the right information for improved financial decision-making.

Example

Visualize a person who wants to afford a flight to Hawaii for the coming Christmas. The app can group all their travel-related expenses and then see how close they are to their stated savings goal.

Competitive Foreign Exchange

Apps can compete with accurate exchange rates and small transaction fees, particularly for world trip enthusiasts and avid globetrotters. This allows the service provider to cater to a niche of mobile tourists who also travel to other regions.

Example

Imagine how the app can help people on business travel abroad exchange currencies at a rate that does not incur excessive transfer costs and also pay for their expenses.

Advanced Security Measures 

Fingerprint authentication, two-factor identification, and data encryption must be implemented so that users can avoid fraud and misappropriation of their financial details. Such functionality is an essential must-have for financial apps development of any kind.

Example

Imagine a fearless user who is confident enough to know that his financial information is not exposed to danger due to the strong security measures the mobile app has applied.

Cryptocurrency Support

Cryptocurrency support is a core feature of Revolut, enabling users to buy, sell, and securely store digital assets like Bitcoin and Ethereum directly within the mobile app. This integration offers seamless crypto trading alongside traditional banking services, providing a comprehensive financial experience.

For example, users can trade Bitcoin or Ethereum seamlessly, integrating crypto wallets for secure transactions.

Stock and Commodities Trading

Stock and commodities trading features allow users to invest in shares or commodities like gold and oil through the mobile app.

For instance, users can buy Tesla stocks or trade crude oil futures, managing their investment portfolios with real-time market data and analytics.

Cost Breakdown to Build app Similar to Revolut

The finance world is rocking mobile apps like Revolut, and building an app like this can generate tremendous profit. However, while development costs are important, it is more vital to understand what the development costs may lead to. Here's a breakdown of the factors that influence the price tag:

App Complexity and Features

Basic Features (Account Management, Money Transfer)

Transparent functionalities that drive the development process of this product (and which are relatively affordable to produce) have a flat design.Developing a Minimum Viable Product (MVP) typically consumes 60-70% of the total project budget.

Advanced Features (Budgeting Tools, Investment Options)

These require more complicated coding and higher prices. Adding more features also implies higher development process time and expenses.

Development Team and Location

In-House vs. Outsourcing

Incurring the cost of having your team on the team may result in complete control, but you will want to avoid getting one. Outsourcing to less developed countries might generate cost savings, but straight communication and quality overview are challenging.

Team Expertise

The role of your developers' skillet is, therefore, predominant. Senior developers with extensive experience and know-how will charge more than junior developers without.

App Platform (Android, iOS, or Both)

Single Platform

Most developers need to cover only one platform, which will reduce their expenses.

Multiple Platforms

Supporting both Android and iOS devices means you will probably have to design separate mobile apps for each platform, which will cost about twice as much.

Design and User Interface (UI/UX)

Simple vs. Complex Design

The key factor is a clear-cut design and simple interactions, but very advanced interfaces with multiple animations can produce a high-cost course. The cost of developing a mobile banking app depends heavily on the design complexity, with basic designs costing significantly less than intricate, feature-rich interfaces.

Backend Infrastructure

A robust backend infrastructure is essential for handling the high volume of financial transactions, user data, and real-time processing that mobile banking apps demand. It ensures data integrity, security, and scalability to support growing user bases and complex functionalities. Efficient backend systems also facilitate seamless communication between the app and external services, providing a smooth user experience.

Foreign Exchange (FX) APIs

FX APIs provide real-time currency exchange rates and enable multi-currency transactions within the app. They are crucial for apps like Revolut that offer competitive foreign exchange services. Integrating FX APIs ensures accurate conversions and enhances the global usability of the banking app.

Additional Considerations

• Server Costs: Keeping the transaction rapid servers and the database up and running entails continuous investment.
• Security Features: Meanwhile, clever security measures such as 2-factor authentication are indispensable but more expensive than counterfeiting, which will be covered by the development fee. Regulatory compliance costs typically account for 15-20% of overall fintech application development costs.
• Mobile banking apps require thorough planning and research, which can cost between $5,000 and $15,000.
• Maintenance costs for fintech app development cost typically amount to 15-20% of the initial app development costs annually.
• Higher hourly rates for developers in North America lead to mobile banking applications costing about $350,000.

Estimated Cost Range:

The different factors make it hard to quote a specific price, but that is the cost of developing. To get a rough idea of the spending needed to develop an application such as Revolut, you must be ready to invest from $100,000 to $500,000+.Developing advanced mobile banking applications can exceed $300,000 due to complex functionalities. Here's a simplified breakdown:

• Basic mobile banking apps usually start at around $30,000 to $50,000.
• Advanced App (Budgeting Tools, Investment Options): $80,000 – $100,000+
• On average, the app development cost for a banking app lies between $250,000 to $1 million.

Detailed Cost Breakdown

Read Also : How to Develop a Mobile App like Hinge Dating App?

Development Timeline

The Minimum Viable Product (MVP) development process typically takes between 3 to 5 months, focusing on core functionalities of a basic banking app to quickly enter the market. The timeline for development and the overall mobile banking app depends on factors such as feature complexity, platform choice, and compliance requirements.

Following the MVP, building a full-scale product with advanced features and enhancements usually requires an additional 6 to 10 months.

Adopting an agile, milestone-based delivery approach is recommended to ensure flexibility, continuous feedback, and timely progress throughout the development process.

Why Choose QSS Technosoft for Your Mobile Banking App?

QSS Technosoft brings more than 10 years of experience in developing cutting-edge financial technology solutions. Our team understands the unique demands and challenges of the fintech app development industry. We deliver innovative, reliable, and scalable mobile banking applications tailored to your needs. Our expertise ensures your app meets market expectations and user demands.

QSS Technosoft is your ideal technology partner to build a secure, scalable, and customer-centric banking app project at a reasonable cost.

Proven success in banking, insurance, and finance projects

We have a strong track record of delivering successful projects across banking, insurance, and finance sectors. Our portfolio includes apps that enhance customer engagement and operational efficiency.

We leverage industry best practices to build secure and compliant financial solutions. Our clients trust us to create apps that drive business growth and customer satisfaction.

Certified developers

Our development team holds certifications in leading mobile app frameworks and languages. Expertise in React Native and Flutter enables cross-platform app development with native-like performance. Proficiency in Kotlin and Swift ensures high-quality native apps for Android and iOS.

Certified skills mean faster development process cycles and robust, maintainable codebases.

Regulatory compliance

We have deep knowledge of critical financial regulations such as GDPR and PCI-DSS. Our solutions are designed to protect sensitive user data and ensure compliance.

We integrate security best practices from the start to minimize risks and penalties. Compliance expertise helps your app gain trust and operate legally in global markets.

End-to-end development

We provide comprehensive services covering every stage of app development. From initial concept and design to development, testing, and deployment, we handle it all. Our agile approach ensures continuous feedback and timely delivery.

Post-launch support and maintenance keep your app updated and competitive.

Tips to Optimize App Development Cost

Start with MVP

Begin your project by developing a Minimum Viable Product (MVP) that includes only the essential features.

This approach allows you to enter the market quickly, gather user feedback, and make informed decisions about future enhancements, ultimately reducing unnecessary expenses.

Use Cross-Platform Tech

Adopt cross-platform development technologies such as React Native to build your app for both iOS and Android simultaneously.

This reduces development time and development costs compared to creating separate native apps for each platform while maintaining a high-quality user experience.

Choose Pre-Built Modules

Integrate pre-built modules or third-party APIs for common functionalities like payment gateways, authentication, or analytics.

This strategy cuts down custom development efforts, accelerates timelines, and lowers overall app development costs.

Work with Offshore/Nearshore Teams

Consider collaborating with offshore or nearshore development teams to benefit from cost-effective labor markets.

This can significantly reduce development expenses while maintaining quality when managed with clear communication and project oversight.

Leverage QSS Technosoft’s Reusable FinTech Components

Utilize QSS Technosoft’s library of reusable FinTech components and modules to speed up fintech app development. These pre-tested components ensure reliability, reduce coding effort, and help you build secure, compliant financial applications efficiently.

Conclusion

The mobile banking space is thriving while revolutionary technologies are winning. By having a mobile banking app, you are not only leaking into this multi-billion market, but you also allow the users to manage their money without going through the hassle. The cost of developing such an app varies depending on features, complexity, and compliance requirements, but the investment can yield significant returns in user engagement and market reach.

QSS Technosoft can be your spark in an all-encompassing process of creating a revolutionary app like Revolut. The experienced team of application designers will create a solid and easy-to-use app that fills the features required by a customer, such as seamless money management, intelligent budgeting, competitive currency exchange, and robust security. 

Our priority is developing mutually beneficial, long-term relationships with all parties involved. We proceed by understanding your goals and by getting to know what audience you have in mind, and we form a perfect fit solution. 

Ready to Build Your Banking App? Connect with QSS Technosoft

FAQ Section

What is the average mobile banking app development cost?

The average cost to develop a mobile banking app ranges widely depending on the app’s complexity, features, platform, and compliance requirements. Typically, a basic banking app can cost between $50,000 and $80,000, while more advanced apps with features like budgeting tools, investment tracking, and payment gateway integration may range from $100,000 to $300,000 or more.

What factors affect the cost of developing a mobile banking app?

Several factors affect development costs, including the app’s features, design complexity, platform choice (iOS, Android, or both), development team structure, security and compliance requirements, and third-party integrations such as banking APIs and payment gateways.

How long does it take to develop a mobile banking app?

Development timelines vary based on complexity. A minimum viable product (MVP) with core features typically takes 3 to 5 months, while a full-featured app with advanced functionalities can take 9 to 18 months or more.

What are the essential features of a mobile banking app?

Key features include seamless account management, money transfers, bill payments, transaction history, budgeting and tracking tools, multi-currency support, security measures such as two-factor authentication, and compliance with financial regulations.

How important is security and compliance in mobile banking app development?

Security and compliance are critical in fintech app development. Apps must implement strong encryption, secure authentication, fraud detection, and meet regulatory standards such as GDPR, PCI DSS, KYC, and AML to protect sensitive financial data and maintain user trust.

Can I reduce the cost of mobile banking app development?

Yes. Strategies include starting with a minimum viable product (MVP), prioritizing core features, using cross-platform development frameworks, leveraging pre-built modules and APIs, and working with experienced offshore or nearshore development teams to optimize development costs without compromising quality.

What ongoing costs should I expect after launching a mobile banking app?

Ongoing maintenance costs typically amount to 15-20% of the initial development budget annually. This covers security updates, compatibility improvements, server and hosting fees, bug fixes, and feature enhancements to ensure the app remains secure, compliant, and user-friendly.

How does the development team structure impact the app cost?

The development team’s size, expertise, and location significantly affect development costs. In-house teams are generally more expensive due to salaries and overhead, while outsourcing or hybrid models can offer cost savings. Experienced developers may charge higher rates but can reduce long-term costs by delivering quality work efficiently.

What role do third-party integrations play in mobile banking apps?

Integrations with payment gateways, banking APIs, identity verification services, and other financial platforms are essential for providing comprehensive banking services. These integrations can affect development complexity and costs but are crucial for seamless user experiences and secure financial transactions.

How can I ensure my mobile banking app stands out in the rapidly evolving fintech landscape?

Focus on delivering a user-friendly interface, personalized financial advice, robust security, multi-currency support, and advanced features like investment management and AI-driven insights. Regularly update the app based on user feedback and market trends to maintain competitiveness and user satisfaction.