Banking Software Development Company

Custom software for digital banks, lending platforms, credit unions, and fintech companies building banking-adjacent products.

We build the technology layer that banking products run on, from customer-facing digital banking apps to the backend systems that process transactions, manage compliance, and automate operations.

  • Digital banking applications, account management, payments, statements, and customer self-service

  • Lending origination, underwriting automation, and loan servicing platforms

  • Payment infrastructure with payment gateway integrations and transaction processing

  • KYC, AML, and compliance tooling built into the product architecture

Recognition

Sound familiar?

  • Running banking operations on legacy core systems that can't support the digital products your customers expect?

  • Building a lending or payments product and need software that meets compliance requirements without sacrificing speed to market?

The short answer

RaftLabs builds custom banking software for digital banks, lending platforms, credit unions, and fintechs. Products include digital banking applications, lending origination and servicing platforms, payment infrastructure, KYC/AML compliance tooling, core banking API layers, and banking automation features. PCI-DSS and KYC/AML requirements are designed into the architecture before any code is written, not retrofitted after launch. Most digital banking features deliver in 10 to 16 weeks at a fixed cost.

Companies we've built for

Vodafone
Nike
Microsoft
Cisco
T-Mobile
Aldi
Heineken
GE
And PSD2-aware architecture from sprint one
PCI-DSS
Week delivery for digital banking features
10-16
Software products shipped
100+
Cost delivery
Fixed

Banking software that compliance teams can ship

Banking software has two hard requirements that most software doesn't. It has to work reliably at the transaction level (financial errors aren't acceptable), and it has to satisfy the compliance and audit requirements that regulators impose.

Both requirements have to be designed in from the start, not retrofitted after the product is built.

Problems we solve in banking

  1. 01
    Problem

    Regulatory compliance costs eating into margin

    Solution

    Compliance teams spend weeks manually extracting data from disparate systems to produce BSA, FinCEN, or open banking reports. Every manual step adds cost and introduces the risk of errors that regulators notice. When an examination finds gaps in your audit trail, remediation costs far more than building the right infrastructure the first time. We build compliance tooling into the product architecture so reporting is automated and auditable from day one.

  2. 02
    Problem

    Legacy core banking blocking every new product

    Solution

    A new savings product or loan type requires months of core system changes, IT sign-off cycles, and vendor involvement. By the time the product is live, competitors have already captured the market. The core becomes a constraint on commercial decisions rather than infrastructure that enables them. According to McKinsey & Company (2021), technical debt and legacy infrastructure account for as much as 70% of IT spending at a typical bank, leaving little budget for new product development. We build an API layer over the existing core so digital products can launch without waiting for the core to change.

  3. 03
    Problem

    KYC and AML running on manual processes

    Solution

    Identity verification and transaction monitoring handled by staff takes days per customer and creates inconsistent results. Manual KYC processes don't scale and they don't satisfy auditors who want a documented, repeatable workflow. Suspicious activity that manual review misses becomes a regulatory liability. We integrate KYC and AML tooling directly into the product so every check is automated, logged, and auditable.

  4. 04
    Problem

    Fraud detection too slow to stop losses in real time

    Solution

    Batch fraud review catches fraudulent transactions hours after they clear, when recovery is difficult or impossible. The longer the detection latency, the larger the loss exposure. Rules-based fraud systems built years ago don't adapt to new attack patterns. We build fraud detection that runs at transaction time, using configurable rule sets and anomaly detection so suspicious activity is flagged before it settles.

What we build

  1. Digital banking applications

    Customer-facing banking apps with account dashboards, transaction history, fund transfers, payment initiation, statement downloads, and customer service integration. Mobile-first for the customers who don't visit branches. Includes secure authentication (biometrics, OTP, step-up auth for high-value transactions), session management, and device fingerprinting, so your customers transact with confidence and your security team can sleep at night.

  2. Lending origination and servicing

    Digital lending platforms covering application intake, document collection, automated underwriting with credit bureau integration, decisioning workflows, disbursement processing, repayment tracking, arrears management, and customer communications. Built for consumer and business lending, mortgage origination, and BNPL. Regulatory compliance for Truth in Lending, Equal Credit Opportunity Act, and state lending regulations is built into the workflow design, so your legal team isn't retrofitting requirements after launch.

  3. Payment systems and infrastructure

    Payment processing infrastructure: payment gateway integrations (Stripe, Adyen, Braintree), ACH and SWIFT payment flows, card programme management, FX and multi-currency handling, and merchant payment platforms. Includes payment reconciliation, settlement, and chargeback management. PCI DSS compliance requirements are considered in the architecture from day one, so you don't carry certification debt into production.

  4. KYC, AML, and compliance tooling

    Compliance infrastructure for regulated banking products: KYC workflows with document verification (Jumio, Onfido, or similar), identity verification, sanctions screening, PEP checks, and ongoing monitoring. AML transaction monitoring with configurable rule sets and case management. SAR filing workflows and audit trail generation. Regulatory reporting for BSA, FinCEN, and international equivalents. Compliance tooling is built into the product rather than bolted on, so auditors see a system that was designed to comply, not one that was patched to comply.

  5. Core banking modernisation

    Modernising legacy core banking systems without stopping the bank. We build an API layer over existing core systems to enable digital products while the core is gradually replaced. New products run as microservices, independent of the legacy core. Data migration from legacy formats includes reconciliation and audit. We assess the existing system before recommending the modernisation approach, so the plan fits your infrastructure rather than a generic playbook.

  6. Banking automation and AI

    Banking automation features: credit risk scoring with custom ML models, fraud detection and anomaly detection, document extraction for loan origination (income verification, bank statement analysis), automated customer support for banking queries, and automated regulatory reporting. Banking AI requires explainability for regulatory reasons. We build models with documentation adequate for compliance review, not black-box systems that your regulators won't accept.

How we work with banking clients

  1. 01

    Compliance and technical discovery

    We start by mapping your regulatory environment: PCI-DSS, KYC, AML, open banking, and any jurisdiction-specific requirements, alongside your existing core banking infrastructure. We identify what the core exposes via API, what requires workarounds, and where compliance constraints shape the architecture. You get a scoped proposal and a fixed cost before development starts.
  2. 02

    Architecture design with compliance built in

    Banking software architecture decisions have compliance consequences. We design data models, access control structures, encryption, audit logging, and infrastructure configuration to meet your regulatory requirements before any code is written. Your compliance team reviews the architecture document before development begins.
  3. 03

    Sprint-based development with working software each cycle

    We build in two-week sprints. At each sprint review you see working software you can test, not a slide deck of what's coming. Compliance-critical components are tested against your requirements at each sprint, not deferred to a final QA phase where fixing problems is expensive.
  4. 04

    Security testing, launch, and handover

    Before go-live, we conduct penetration testing and a security review against your requirements. We provide full technical documentation, run onboarding for your team, and support the production deployment. You own the source code and the infrastructure.

Frequently asked questions

Banking software compliance requirements vary by product type and jurisdiction. Common requirements we design for: PCI DSS for systems that handle card data (data storage restrictions, transmission security, audit logging), BSA/AML for transaction monitoring and suspicious activity reporting, KYC regulations for customer onboarding and identity verification, GDPR and CCPA for customer data handling, SOC 2 Type II readiness for cloud-hosted banking infrastructure, and open banking/PSD2 standards for API-based banking integrations. We engage your compliance team in the discovery phase. Compliance requirements shape the architecture, not the other way around.

Yes. Most banking software projects involve integration with an existing core banking system (Temenos, FIS, Fiserv, Jack Henry, or a proprietary legacy system). Integration approaches depend on what the core exposes: modern cores have REST APIs; older systems expose SOAP, FTP-based file exchange, or direct database connections. We assess the integration surface during discovery. The most common pattern is an API layer that abstracts the core, allowing digital products to evolve independently while the core remains stable.

Banking security requirements include: encryption at rest and in transit for all financial data, role-based access control with principle of least privilege, MFA and step-up authentication for sensitive transactions, full audit logging (who accessed what, when, from where), penetration testing before production launch, secure development practices (OWASP compliance, dependency scanning, secrets management), and infrastructure hardening for production deployment. We treat security requirements as architectural constraints, not post-build additions.

We've built lending platforms, payment processing systems, fintech applications, and banking-adjacent products for financial services clients across the US, UK, Europe, and GCC. Our fintech experience includes digital lending, payment infrastructure, and financial automation applications. Every financial services project involves compliance requirements and data security standards as baseline constraints, not optional extras.

BaaS providers handle the regulated infrastructure layer well for standard products: accounts, ledger, payment rails. Custom software makes sense when the product experience, credit model, or workflow requirements are specific enough that BaaS configuration creates friction, when you need to own the full stack for competitive or compliance reasons, or when the BaaS provider's per-transaction economics don't work at your volume. We scope both options during discovery and tell you which approach fits your situation.

Banking software by product

What clients say

What our clients say

Three-year average engagement. Founders and operators describing the work in their own words. No marketing varnish.

K
Kelly Smith
USA flagUSA
Product Manager

RaftLabs helped us develop a mobile POS app that enabled seamless cashless payments. Their clear communication and collaborative approach ensured the project ran smoothly from start to finish.

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Case studies

Related services

  • Business Process Automation, Automate KYC document processing, compliance reporting, loan origination workflows, and payment reconciliation
  • AI Document Intelligence, Extract structured data from account applications, credit reports, regulatory filings, and audit documents
  • AI Agent Development, Autonomous agents for fraud detection, credit risk scoring, regulatory monitoring, and customer service
  • Custom Software Development, Custom core banking systems, payment platforms, and compliance tools built for your regulatory environment and product lines

What we build for banks

Related services

Talk to us about your banking software project.

Tell us the product, the regulatory environment, and your existing infrastructure. We'll tell you how we'd approach the build.

  • Scope and cost agreed before work starts. No surprises. No obligation.
  • Working prototype within 3 weeks of kickoff.
  • Pay by milestone. You see progress before each invoice.
  • 60-day post-launch warranty. Bug fixes, UI tweaks, and deployment support. No retainer.
  • All conversations are NDA-protected.