Banking Software Development

Pharos Production is a banking software development company that builds core banking systems, neobank platforms, digital banking apps and payment processing solutions for banks, credit unions, neobanks and financial institutions. The core banking software market is projected to reach $21.61 billion by 2030 at 10.2% CAGR, with cloud-based solutions holding 62% market share. Founded in 2013 with 90+ engineers, Pharos Production delivers PCI DSS, SOC 2 and ISO 27001 compliant banking platforms with open banking API integration. Every project follows our Verified Delivery process - security audit, compliance validation and penetration testing at each sprint.

engineers
90+
years in business
12+
apps delivered
70+
73 reviews 131 reviews 10 reviews 36 reviews 250+ verified reviews

Your business results matter

Achieve them with minimized risk through our bespoke innovation capabilities

Your contact details
Please enter your name
Please enter a valid email address
Please enter your message
* required

We typically reply within 1 business day

SOC 2 Type II GDPR ISO 27001 NDA Protected
Key facts: Pharos Production delivers custom banking since 2013. Team of 90+ engineers from Las Vegas and Kyiv. 70+ applications delivered for 200+ clients. Rated 5/5 on Clutch (2026). ISO 27001 certified. Last reviewed: March 2026. Editorial policy. This page is reviewed quarterly and updated when pricing, technology support or team capacity changes. If you find an error, contact us and we will correct it within 48 hours.

What is banking software development?

Banking software development is the process of building digital platforms for financial institutions - from core banking systems and digital banking apps to payment processing engines and open banking API platforms. Unlike general enterprise software, banking applications must comply with PCI DSS for payment data, PSD2/PSD3 for open banking, KYC/AML for customer verification and ISO 20022 for payment messaging. Common banking project types include neobank platforms, core banking modernization, real-time payment systems, fraud detection engines, wealth management tools and Banking-as-a-Service (BaaS) infrastructure.
Dmytro Nasyrov - Founder and CTO of Pharos Production

Reviewed by Dmytro Nasyrov

Founder and CTO

23+ years in software development. Led banking platform projects for banks, neobanks and payment processors. PCI DSS and ISO 27001 certified.

Banking solutions we build

Pharos Production applies its full-cycle software development expertise to deliver tailored solutions for banking businesses.

Digital Banking & Mobile Banking Platforms

Pharos Production builds comprehensive digital banking platforms with account management, transfers, card controls, budgeting and secure multi-factor authentication. We use API-first architecture because it enables open banking compliance and seamless third-party integration. Our cross-platform mobile development team delivers native-quality banking apps for iOS and Android with biometric login, real-time notifications and offline transaction queuing.

Mobile Banking App Development Online Banking Web Portal Digital Wallet & Contactless Payments Integration Bill Payments & P2P Transfer Module Multi-Factor Authentication & Biometric Login System Personal Finance Management (PFM) Tools Card Management & Virtual Card Issuing Platform

Core Banking System Modernization

Core banking modernization migrates legacy monolithic systems to cloud-native microservices architecture. The SaaS-based core banking market is projected to reach $50.62 billion by 2033. We recommend modular modernization – replacing one domain at a time (payments, lending, accounts) – because it reduces risk compared to big-bang replacement. Pharos Production delivers core banking migration with scalable back-end architecture, event-driven design (Apache Kafka) and ISO 20022 messaging compliance.

Legacy Core Refactoring & API Enablement Cloud-Native Core Banking Migration Modular Banking Microservices Architecture Real-Time Transaction Processing Engine Configurable Product & Pricing Engine Data Migration & Core Consolidation Toolkit Core Banking Compliance & Audit Framework

Payment Processing & Real-Time Transaction Systems

Real-time payment processing platforms with sub-second settlement, multi-currency support and regulatory compliance. Instant payment value is projected to grow from $22 trillion (2024) to $58 trillion by 2028 (ACI Worldwide). Pharos Production integrates FedNow, SEPA Instant, SWIFT and ISO 20022 messaging for banks, neobanks and e-commerce platforms requiring PCI DSS-compliant payment infrastructure.

Real-Time Payments & Instant Transfer System Card Issuing & Acquiring Processing Platform ISO 20022 Payment Messaging Engine Cross-Border Remittance Gateway ACH, SEPA & Wire Transfer Automation Module Fraud Monitoring for Payment Streams Payment Reconciliation & Settlement System

Loan Origination & Credit Management Platforms

Automated loan origination platforms that digitize the entire lending lifecycle – application intake, KYC verification, credit scoring, underwriting and disbursement. AI-powered credit models reduce approval times from days to minutes while improving default prediction accuracy. The global digital lending market is projected to reach $20.5 billion by 2027 (Allied Market Research). Pharos Production builds loan origination systems with automated decisioning, bureau integration and regulatory-compliant document generation.

Digital Loan Application Portal Automated Credit Scoring & Risk Assessment Engine KYC & Document Verification Workflow Loan Underwriting Decision Automation Collateral & Asset Valuation Module Loan Disbursement & Repayment Tracking System Collections & Delinquency Management Platform

Fraud Detection & Anti-Money Laundering (AML) Systems

AI-powered fraud detection and AML systems that monitor transactions in real time using machine learning models trained on behavioral patterns, device fingerprinting and network analysis. We use ML over rule-based engines because fraudsters adapt faster than static rules. Insurance fraud costs over $80 billion annually in the US (FBI). Pharos Production builds fraud engines for banking, FinTech and insurance platforms with graph-based anomaly detection and real-time scoring.

Real-Time Transaction Fraud Detection Engine AML Rule-Based & AI Behavior Monitoring Suspicious Activity Reporting (SAR) Module Watchlist & Sanctions Screening System Identity Theft & Account Takeover Prevention Tools KYC Risk Scoring & Customer Profiling Fraud Case Management & Investigation Dashboard

Wealth Management & Robo-Advisory Platforms

Robo-advisory and wealth management platforms with automated portfolio construction, rebalancing and tax-loss harvesting. The robo-advisory market surpassed $2.5 trillion AUM in 2024. Pharos Production builds wealth platforms with modern front-end dashboards, risk profiling engines and integration with market data providers (Bloomberg, Refinitiv). See also our FinTech solutions for broader financial platform development.

Automated Portfolio Recommendation Engine Client Risk Profiling & Suitability Assessment Module Investment Account Management Dashboard Real-Time Market Data & Analytics Feed Goal-Based Financial Planning Tools Portfolio Rebalancing Automation System Advisor–Client Collaboration & Reporting Portal

Open Banking & API Integration Platforms

Open banking API platforms that enable secure data sharing between banks, fintechs and third-party providers. PSD2 regulation mandates API access to account data. PSD3 expands scope to include real-time payment access. Pharos Production builds PSD2/PSD3-compliant open banking APIs for banks and FinTech companies with account information services, payment initiation and consent management.

PSD2/Open Banking API Gateway Secure OAuth2 & Token Management System Bank–Fintech Integration Sandbox Third-Party Provider (TPP) Access Management Open Banking Consent & Permissions Module API Monitoring & Performance Analytics Data Sharing Compliance & Audit Tools

Customer Onboarding & KYC Verification Systems

Digital onboarding platforms that automate identity verification, document validation and risk assessment for new banking customers. Banks using digital onboarding report 60-70% reduction in abandonment rates compared to branch-based processes (McKinsey). Pharos Production builds KYC onboarding with liveness detection, OCR document extraction, sanctions screening and automated risk scoring compliant with KYC/AML regulations. The same compliance-first approach applies to our healthcare software development where patient identity verification follows similar patterns under HIPAA.

Digital Identity Verification & OCR Extraction Biometric Face & Liveness Detection Automated KYC/AML Screening Workflow Customer Risk Scoring Module Document Upload & Signature Capture System Remote Address & Phone Verification Tools Onboarding Workflow Orchestration Platform

Banking CRM & Customer Engagement Solutions

Banking-specific CRM platforms that unify customer data across channels (branch, mobile, web, call center) for personalized financial product recommendations. Banks with unified customer views achieve 15-25% higher cross-sell rates (Accenture). Pharos Production builds banking CRMs with next-best-action engines, event-triggered campaigns and 360-degree customer profiles integrated with core banking and transaction data.

Unified Customer Profile Management Cross-Sell & Upsell Recommendation Engine Campaign Management & Targeting Platform Omnichannel Customer Communication Suite Customer Satisfaction & Feedback Analytics Lead Management & Conversion Workflow Loyalty Rewards & Personalization Platform

Treasury Management & Liquidity Optimization Systems

Treasury management systems for real-time cash position monitoring, liquidity forecasting and automated fund allocation across accounts and currencies. The treasury management software market is projected to reach $7.4 billion by 2030 (Fortune Business Insights). Pharos Production builds treasury platforms with SWIFT MT/MX messaging, multi-bank connectivity, cash pooling optimization and regulatory capital reporting.

Cash Position Tracking & Forecasting Engine Liquidity Risk Management Dashboard Interbank Payments & Clearing Module Investment & Securities Portfolio Management Treasury Workflow Automation Tools FX & Interest Rate Risk Analytics Regulatory Reporting & Compliance Toolkit
Solution Key capabilities
Digital Banking & Mobile Banking Platforms Mobile Banking App Development Online Banking Web Portal Digital Wallet & Contactless Payments Integration +4
Core Banking System Modernization Legacy Core Refactoring & API Enablement Cloud-Native Core Banking Migration Modular Banking Microservices Architecture +4
Payment Processing & Real-Time Transaction Systems Real-Time Payments & Instant Transfer System Card Issuing & Acquiring Processing Platform ISO 20022 Payment Messaging Engine +4
Loan Origination & Credit Management Platforms Digital Loan Application Portal Automated Credit Scoring & Risk Assessment Engine KYC & Document Verification Workflow +4
Fraud Detection & Anti-Money Laundering (AML) Systems Real-Time Transaction Fraud Detection Engine AML Rule-Based & AI Behavior Monitoring Suspicious Activity Reporting (SAR) Module +4
Wealth Management & Robo-Advisory Platforms Automated Portfolio Recommendation Engine Client Risk Profiling & Suitability Assessment Module Investment Account Management Dashboard +4
Open Banking & API Integration Platforms PSD2/Open Banking API Gateway Secure OAuth2 & Token Management System Bank–Fintech Integration Sandbox +4
Customer Onboarding & KYC Verification Systems Digital Identity Verification & OCR Extraction Biometric Face & Liveness Detection Automated KYC/AML Screening Workflow +4
Banking CRM & Customer Engagement Solutions Unified Customer Profile Management Cross-Sell & Upsell Recommendation Engine Campaign Management & Targeting Platform +4
Treasury Management & Liquidity Optimization Systems Cash Position Tracking & Forecasting Engine Liquidity Risk Management Dashboard Interbank Payments & Clearing Module +4
What is banking software development?
Banking software development is the process of building digital platforms for financial institutions - from core banking systems and digital banking apps to payment processing engines and open banking API platforms. Unlike general enterprise software, banking applications must comply with PCI DSS for payment data, PSD2/PSD3 for open banking, KYC/AML for customer verification and ISO 20022 for payment messaging. Common banking project types include neobank platforms, core banking modernization, real-time payment systems, fraud detection engines, wealth management tools and Banking-as-a-Service (BaaS) infrastructure.
Banking software market in numbers

The core banking software market is projected to reach $21.61 billion by 2030 (10.2% CAGR, Grand View Research). Cloud-based solutions hold 62% market share. Instant payment value is projected to grow from $22 trillion (2024) to $58 trillion by 2028 (ACI Worldwide). The BaaS market is expected to surpass $73 billion by 2034 (Allied Market Research). 58% of banks now prioritize AI-integrated cores (Temenos, 2025).

Pharos Production banking delivery metrics

Average time to MVP for banking platforms is 14 weeks. Production infrastructure uptime averages 99.95% under SLA. Zero PCI DSS compliance violations across delivered projects. The Verified Delivery process uses 2-week sprints with security audit, compliance validation and penetration testing at every iteration.

Custom banking software vs vendor core banking

Factor Custom Banking Software Vendor (Temenos, FIS, Finastra)
Core modernization Incremental Strangler Fig migration, zero downtime Big-bang replacement, months of parallel running
Payment rails Custom FedNow, SEPA Instant, ISO 20022 integration Pre-built connectors, limited rail coverage
Compliance Configurable PCI DSS, PSD2/PSD3, KYC/AML per jurisdiction Standardized compliance modules
Open banking APIs Custom API gateway, any third-party integration Vendor marketplace integrations only
AI/ML capabilities Custom fraud detection, credit scoring, risk models Pre-built AI features, limited model tuning
Scalability Cloud-native, auto-scaling per service Vertical scaling, capacity planning required
Cost model One-time development + hosting Per-account or per-transaction licensing fees

Pharos Production recommends custom banking software for institutions processing 100K+ daily transactions, launching digital-first products or requiring deep integration with legacy core systems that vendor platforms cannot accommodate.

How to choose a banking software development company

1 Core banking domain expertise. The team must understand ISO 20022 messaging, real-time payment rails (FedNow, SEPA Instant) and open banking APIs - not just generic web development.
2 PCI DSS and SOC 2 compliance track record. Ask for BAA agreements, security risk assessments and audit history. Banking software without proven compliance is a regulatory liability.
3 Published banking case studies with measurable outcomes. Transaction throughput improvement, migration success metrics, compliance audit results - not just technology descriptions.
4 Cloud-native migration experience. The team should have migrated legacy monolithic cores to microservices using patterns like Strangler Fig with zero-downtime cutover.
5 Security-first development methodology. Every sprint must include security audit, penetration testing and compliance validation - not just a final security review before launch.
6 Post-launch SLA with carrier-grade uptime. Banking platforms need 99.95%+ uptime, real-time monitoring, automated failover and 24/7 incident response for mission-critical financial systems.
Related services: Back-end Front-end Security Audits DevOps FinTech Insurance

Technologies

  • Core Banking Modernization Platforms

    Cloud-native systems that efficiently process transactions, manage accounts and support real-time banking operations at scale.

  • AI Fraud Detection Engines

    Machine learning tools are designed to detect suspicious transactions and help prevent financial crime.

  • Digital KYC and Identity Verification Systems

    Automated onboarding solutions that authenticate user identities using biometric data and document scanning.

  • Open Banking APIs

    Secure interfaces that allow banks to share data and connect with third-party fintech services.

  • Blockchain Settlement Networks

    Distributed ledger systems enable quicker, transparent and tamper-proof transaction clearing.

  • Risk Management and Credit Scoring Models

    AI-driven algorithms that evaluate borrower profiles and determine real-time credit risk.

  • Mobile Banking App Frameworks

    Platforms that deliver secure, high-performance mobile solutions for retail and corporate clients.

  • Payment Gateway and Real-Time Processing Engines

    Technologies that facilitate instant payments, digital wallets and cross-border financial transactions.

Pharos Production - Get your banking platform estimate in 48h. Share your requirements - core banking, payments, compliance scope - and our PCI DSS-certified team will deliver a detailed estimate. Get a project estimate.

Our Expertise

  • kimlic-project-screenshot-3
    kimlic-project-screenshot-2
    kimlic-project-screenshot-1
    Banking

    Kimlic. Blockchain-based KYC

    Pharos Production has partnered with Kimlic to develop a blockchain-based Know Your Customer (KYC) and digital identity platform. This platform ensures that user verification is secure, reusable and privacy-preserving across Web3 and fintech ecosystems. Users can verify their identity once and then securely share proof with multiple services without exposing sensitive personal information. Built on cloud-native infrastructure and equipped with real-time data pipelines, Kimlic provides compliant identity verification at scale while allowing users to retain control over their data.

    Kimlic. Blockchain-based KYC details
    Industry
    Web3, Digital Identity, KYC and Compliance
    Region
    Europe, Turkey
    Client since
    2018
    Technologies
    AWS, Kubernetes, Elixir, Erlang, PostgreSQL, NextJS, Terraform
  • pleenk-project-screenshot-1
    pleenk-project-screenshot-2
    pleenk-project-screenshot-3
    Banking

    Pleenk. Secure Payments Platform

    Pharos Production has partnered with Pleenk to build a secure, scalable payments platform for fast transactions, fraud prevention and seamless integration with digital products. The platform processes payment flows in real time while maintaining high levels of security, transparency and reliability for both businesses and end users. Built on cloud-native infrastructure and an event-driven architecture, Pleenk provides a strong foundation for modern digital payments.

    Pleenk. Secure Payments Platform details
    Industry
    FinTech, Digital Payments, Security and Compliance, KYC
    Region
    European Union
    Client since
    2022
    Technologies
    AWS, Kubernetes, Istio, Spring Boot, Kafka, Flink, PostgreSQL, Cassandra, Redis, NextJS, Terraform
  • nextcheck-project-screenshot-1
    nextcheck-project-screenshot-2
    nextcheck-project-screenshot-3
    nextcheck-project-screenshot-4
    Banking

    Nextcheck, the KYC Platform

    Pharos Production partnered with Nextcheck to replace outdated, manual onboarding with a secure, automated KYC/AML platform. Built on AWS, Kubernetes, Istio, Elixir, RabbitMQ, PostgreSQL and NextJS, the platform provides real-time biometric and document verification, risk assessment and compliance reporting. Since 2019, Nextcheck has reduced onboarding time by 60%, cut manual labor by 70% and expanded to support thousands of checks at once. Today, it powers global banks, fintechs and crypto firms with a cloud-native, regulation-ready, growth-oriented compliance platform.

    Nextcheck, the KYC Platform details
    Industry
    KYC
    Region
    Global
    Client since
    2019
    Technologies
    AWS, Kubernetes, Istio, Elixir, Erlang, RabbitMQ, PostgreSQL, NextJS
Engineering insight How we modernized a core banking system without downtime

When a mid-size bank needed to migrate from a 15-year-old monolithic core banking system to cloud-native microservices, the core challenge was zero-downtime migration while processing 500K+ daily transactions. Our approach: the Strangler Fig pattern - building new microservices alongside the legacy system, gradually routing traffic from old to new modules. Each banking domain (accounts, payments, lending) was extracted into an independent microservice with its own database, connected via Apache Kafka event streaming for eventual consistency. We implemented a dual-write adapter that kept both systems in sync during the transition period, with automated reconciliation checks every 60 seconds. The migration took 8 months across 4 phases, with each phase verified in production before proceeding. Zero data loss, zero downtime, 40% improvement in transaction processing speed. Explore our open-source libraries on GitHub.

Metric Before Pharos After Pharos
Architecture 15-year-old monolith, single database Cloud-native microservices, database per domain
Transaction speed Baseline processing rate 40% improvement in transaction throughput
Deployment frequency Quarterly releases (high risk) Weekly deploys per service, zero downtime
Daily transactions 500K+ on legacy system 500K+ on cloud-native with auto-scaling headroom
Data consistency Single DB, tight coupling Event-driven (Kafka), 60-second reconciliation
Migration risk Big-bang replacement planned Strangler Fig: 4 phases, each verified in prod

Metrics from a core banking modernization project for a mid-size bank. Migration completed in 8 months with zero data loss and zero downtime.

Verified Delivery: our banking development process Architecture PCI DSS scope Development 2-week sprints + tests Security Audit Pen test + PCI review Compliance KYC/AML + PSD2 Production Deploy + monitor Fix findings per sprint Every sprint produces PCI DSS-audited, compliance-validated code. Security findings loop back into development - not after production deployment.

Reviews

Independent reviews from Clutch, GoodFirms and Google - verified client feedback on our software projects

Based on 1 verified client review

5 out of 5 stars
FinTech

Thanks to Pharos Production Inc.'s efforts, the client's platform scalability increased by 40%, and transaction processing speed improved by 35%. The team also mitigated all critical security vulnerabilities. Moreover, they utilized Jira, Slack, and Zoom for effective project management.

Ahmed Al Omran
Photo of Ahmed Al Omran

Ahmed Al Omran

Founder, FinTech Service Company "NovaPay"

Read review

Measurable results

70+ Applications delivered
200+ Clients worldwide
5/5 Clutch rating (2026)
12+ Years in production

Banking Software Development Benchmark 2026

Proprietary research report based on analysis of banking platform projects delivered by Pharos Production. Dataset covers core banking, digital banking apps and payment processors. Methodology: aggregated delivery metrics with 6-18 months post-deployment monitoring per project. PCI DSS compliance validated through quarterly re-audits. Full report with detailed methodology available on request.

14 weeks Average time to MVP for banking platforms
99.95% Production infrastructure uptime under SLA
0 PCI DSS compliance violations across delivered projects
$60K-$800K+ Project cost range depending on scope
500K+ Daily transactions supported per platform
4 Compliance frameworks (PCI DSS, SOC 2, ISO 27001, GDPR)
Request full report

Banking trends shaping 2026

Key technology shifts that impact how Pharos Production architects banking software for clients.

Core Banking Cloud Migration

The SaaS-based core banking market is projected to reach $50.62 billion by 2033 (Future Market Insights). Banks are shifting from monolithic replacements to progressive, modular cloud-native modernization. Pharos Production migrates legacy core banking to microservices architecture incrementally without service disruption.

AI-Powered Banking Operations

58% of banks prioritize AI-integrated cores for compliance automation, predictive risk analytics and real-time fraud detection (Temenos, 2025). Pharos Production builds AI banking agents for fraud detection, KYC automation, credit scoring and regulatory reporting.

Real-Time and Instant Payments

Instant payment value is projected to grow from $22 trillion to $58 trillion by 2028 (ACI Worldwide). FedNow and SEPA Instant adoption accelerates. Pharos Production integrates real-time payment rails with ISO 20022 messaging and instant settlement reconciliation.

Banking-as-a-Service (BaaS)

The BaaS market is expected to surpass $73 billion by 2034 (Allied Market Research). Non-banks launch financial products through licensed banking APIs. Pharos Production builds BaaS platforms with account APIs, card issuance, payment processing and compliance-as-a-service.

Open Banking and PSD3 Evolution

PSD2 mandates make API-first architecture mandatory. PSD3 expands scope to include real-time payment access. Pharos Production builds PSD2/PSD3-compliant open banking APIs with account information and payment initiation services.

Digital Identity and Biometric Authentication

The EU digital ID wallet launches in 2026. Decentralized identity and biometric verification enable seamless onboarding. Pharos Production integrates biometric authentication, liveness detection and verifiable credentials into banking platforms.

Key takeaways
  • Banking software development requires PCI DSS, PSD2/PSD3, KYC/AML and ISO 20022 compliance - not just standard web development skills.
  • The core banking software market is projected to reach $21.61 billion by 2030 (Grand View Research). Cloud-native and modular modernization outperforms big-bang replacement.
  • Custom banking software eliminates per-transaction vendor licensing fees and enables deep integration with legacy core systems via the Strangler Fig migration pattern.
  • A mobile banking MVP starts from $60,000-$120,000 and takes 4-6 months. A full core banking system ranges from $200,000 to $800,000+ (10-18 months).
  • Every Pharos Production banking sprint includes security audit, PCI DSS validation and compliance testing - not just a final review before launch.

Pharos Production - Ready to build your banking platform? From core banking to mobile apps - share your banking software requirements and get an estimate in 48 hours. Start Your Banking Project.

Choose your cooperation model

Suitable for the project test
MVP

Core software architecture, initial UI/UX, working prototype in 3 months

$10,000-$25,000
Popular choice
Suitable in 9 out of 10 cases
Full-fledged Production

Software architecture, UI/UX, customized software development, manual and automated testing, cloud deployment

$25,000-$50,000
Turnkey development
Full-cycle Development

Comprehensive software architecture and documentation, UI/UX design layouts, UI kit, clickable prototypes, cloud deployment, continuous integration, as well as automated monitoring and notifications.

$50,000-$80,000

Prices vary based on project scope, complexity, timeline and requirements. Contact us for a personalized estimate.

Important: Banking software projects are subject to financial regulations including PCI DSS, PSD2/PSD3, KYC/AML and local banking authority mandates. Pharos Production delivers software development services - banking licenses and regulatory approvals are the responsibility of the client institution. All price estimates are for software development only.

Or select the appropriate interaction model

Request staff augmentation

Need extra hands on your software project? Our developers can jump in at any stage – from architecture to auditing – and integrate seamlessly with your team to fill any technical gaps.

Popular choice

Hire dedicated experts

Whether you’re building from scratch or scaling fast, our engineers are ready to step in. You stay in control, and we handle the code.

Outsource your project

From first line to final audit, we handle the entire development process. We will deliver secure, production-ready software, while you can focus on your business.

Comparison of engagement models at Pharos Production
Model Best for Team setup Budget range
Staff Augmentation Existing teams needing extra engineers at any project stage 1-2 weeks From $5,000/month
Dedicated Team Popular Long-term projects requiring full ownership and control 2-4 weeks From $15,000/month
Project Outsourcing Full-cycle development from idea to production launch 1-2 weeks $10,000-$80,000+

An approach to the development cycle

The Pharos Delivery Framework divides every project into 2-week sprints. After each sprint there is a retrospective of the work done, planning for the next sprint, a report of the work done and a plan for the next sprint. This methodology is why agile projects are 3x more likely to succeed than waterfall (Standish Group CHAOS Report, 2024).

  1. Team Assembly

    Our company starts and assembles an entire project specialists with the perfect blend of skills and experience to start the work.

  2. MVP

    We’ll design, build, and launch your MVP, ensuring it meets the core requirements of your software solution.

  3. Production

    We’ll create a complete software solution that is custom-made to meet your exact specifications.

  4. Ongoing

    Continuous Support

    Our company will be right there with you, keeping your software solution running smoothly, fixing issues, and rolling out updates.

108+ technologies

Banking technologies, tools and frameworks we use

Our engineers work with 108+ technologies across blockchain, backend, frontend, mobile and DevOps - chosen for production reliability and performance.

Frameworks

Backend Frameworks 5

Spring Boot
Spring Boot
Erlang OTP
Erlang OTP
NodeJS
NodeJS
Phoenix
Phoenix
NestJS
NestJS

Front End Frameworks 4

React
React
Next.JS
Next.JS
Svelte
Svelte
Angular
Angular

Mobile Apps Frameworks 9

iOS
iOS
Android
Android
Flutter
Flutter
React Native
React Native
Capacitors
Capacitors
Ionic
Ionic
Swift
Swift
Kotlin
Kotlin
Java
Java

Blockchains

Private and Public Blockchains 33

Ethereum
Ethereum
TON
TON
Corda
Corda
Tron
Tron
Hedera
Hedera
Stellar
Stellar
Consensys GoQuorum
Consensys GoQuorum
Solana
Solana
Arbitrum
Arbitrum
Binance Smart Chain (BSC)
Binance Smart Chain (BSC)
Sei
Sei
Celo
Celo
Hyperledger
Hyperledger
MultiversX
MultiversX
IOTA
IOTA
Polkadot
Polkadot
Aptos
Aptos
Neo
Neo
Flow
Flow
Algorand
Algorand
Avalanche
Avalanche
EOS
EOS
Optimism
Optimism
Polygon
Polygon
Cosmos
Cosmos
Sui
Sui
Tezos
Tezos
Ontology
Ontology
Fantom
Fantom
NEAR Protocol
NEAR Protocol
VeChain
VeChain
Base
Base
IPFS
IPFS

Cloud Blockchain Solutions 4

Amazon Managed Blockchain
Amazon Managed Blockchain
Amazon QLDB
Amazon QLDB
IBM Blockchain
IBM Blockchain
Oracle Blockchain
Oracle Blockchain

DevOps

DevOps Tools 9

Kubernetes
Kubernetes
Terraform
Terraform
Docker
Docker
Istio
Istio
Prometheus
Prometheus
Grafana
Grafana
Jenkins
Jenkins
ArgoCD
ArgoCD
Ansible
Ansible

Clouds

Clouds 3

Amazon Web Services
Amazon Web Services
Azure
Azure
Google Cloud
Google Cloud

Databases

Databases 9

PostgreSQL
PostgreSQL
MySQL MariaDB
MySQL MariaDB
Redis
Redis
Cassandra
Cassandra
Neo4J
Neo4J
MongoDB
MongoDB
Elasticsearch
Elasticsearch
Solr
Solr
Ignite
Ignite

Brokers

Event and Message Brokers 3

Kafka
Kafka
RabbitMQ
RabbitMQ
Flink
Flink

Tests

Test Automation Tools 6

Postman
Postman
Appium
Appium
Cucumber
Cucumber
Selenium
Selenium
JMeter
JMeter
Cypress
Cypress

Programming

Programming Languages 11

Solidity
Solidity
FunC
FunC
Rust
Rust
GoLang
GoLang
Elixir
Elixir
Erlang
Erlang
C++
C++
Java
Java
JavaScript
JavaScript
TypeScript
TypeScript
Scala
Scala

UI/UX

UI/UX Design Tools 12

Figma
Figma
Zeplin
Zeplin
InVision
InVision
Sketch
Sketch
Miro
Miro
Marvel
Marvel
Balsamiq
Balsamiq
Photoshop
Photoshop
Illustrator
Illustrator
XD
XD
After Effects
After Effects
Corel Draw
Corel Draw
Trusted & Certified

Partnerships & Awards

Recognized on Clutch, GoodFirms and The Manifest for software engineering excellence

  • Partner1
  • Partner2
  • Partner3
  • Partner4
  • Partner5
65+ industry awards

FAQ

Last updated: March 28, 2026 Reviewed by: Dmytro Nasyrov (Founder, Solutions Architect)

Answers to common questions about banking software development, digital banking and compliance.

  • Copy link Copies a direct link to this answer to your clipboard.

    Pharos Production builds PCI DSS-compliant digital banking platforms with real-time transaction processing, multi-factor authentication and scalable back-end architecture designed for high-throughput financial workloads. See also our FinTech and Insurance solutions.

  • Copy link Copies a direct link to this answer to your clipboard.

    Pharos Production builds native and cross-platform mobile banking apps with biometric login, real-time balance updates, P2P transfers and card management – all secured with end-to-end encryption.

  • Copy link Copies a direct link to this answer to your clipboard.

    Pharos Production builds fraud detection engines with ML-based anomaly detection, real-time transaction scoring and automated case management. Our risk management platforms integrate with existing core banking systems via secure APIs.

  • Copy link Copies a direct link to this answer to your clipboard.

    Banking project costs depend on regulatory requirements and integration complexity. A mobile banking app MVP may start from $60,000-$120,000, while a full core banking system can range from $200,000 to $800,000+. Request a free estimate.

  • Copy link Copies a direct link to this answer to your clipboard.

    A mobile banking app MVP typically takes 4-6 months. A full core banking system may require 10-18 months including compliance testing and security audits.

    Pharos Production uses agile development with 2-week sprints.

  • Copy link Copies a direct link to this answer to your clipboard.

    Pharos Production follows PCI DSS for payment data, SOC 2 Type II for infrastructure security, PSD2/open banking standards and regional banking regulations. Every banking platform includes automated compliance monitoring and audit trails.

  • Copy link Copies a direct link to this answer to your clipboard.

    We do not build consumer-facing neobank apps without a licensed banking partner. Our focus is the technology layer – core banking systems, transaction processing, compliance automation and API banking platforms.

    For banking-as-a-service without your own license, platforms like Synapse or Unit offer faster time-to-market.

  • Copy link Copies a direct link to this answer to your clipboard.

    Banking software must pass regulatory audits (OCC, FDIC, PRA) at every milestone, not just at launch. Our 2-week sprints include compliance checkpoint reviews and PCI DSS validation at every iteration.

    This catches regulatory gaps before they become costly. Agile projects are 3x more likely to succeed (Standish Group, 2024).

  • Copy link Copies a direct link to this answer to your clipboard.

    Evaluate five factors: (1) core banking domain expertise including ISO 20022 messaging, real-time payment rails (FedNow, SEPA Instant) and open banking APIs, (2) PCI DSS and SOC 2 compliance track record, (3) published case studies with measurable outcomes for banks or neobanks, (4) experience with cloud-native migration from legacy monolithic core banking, and (5) a methodology that includes security and compliance validation at every sprint.

  • Copy link Copies a direct link to this answer to your clipboard.

    Core banking modernization progressively migrates capabilities to cloud-native microservices while keeping legacy systems running – lower risk, faster ROI. Full replacement swaps the entire core in a big-bang migration – higher risk but cleaner architecture.

    58% of banks now prioritize AI-integrated cores. Pharos Production recommends modular modernization for most institutions, replacing one domain at a time (payments, lending, accounts) while maintaining integration with the existing core.

  • Copy link Copies a direct link to this answer to your clipboard.

    Yes. AI agents in banking autonomously detect fraud in real time, automate KYC/AML compliance checks, process loan applications and manage customer service operations.

    Gartner predicts 33% of enterprise software will include agentic AI by 2028. Pharos Production builds multi-agent banking systems with human-in-the-loop patterns for high-risk operations.

  • Copy link Copies a direct link to this answer to your clipboard.

    Banking-as-a-Service (BaaS) enables non-bank companies to offer financial products through licensed banking infrastructure via APIs. The BaaS market is projected to surpass $73 billion by 2034.

    Pharos Production builds BaaS platforms with account opening APIs, card issuance, payment processing, KYC/AML and regulatory reporting – enabling fintechs and platforms to embed banking without obtaining their own charter.

Dmytro Nasyrov, Founder and CTO at Pharos Production
Dmytro Nasyrov Founder & CTO Let’s work together!

Build your Banking platform

90+ engineers ready to deliver your Banking project on time and within budget

Your contact details
Please enter your name
Please enter a valid email address
Please enter your message
* required

We typically reply within 1 business day

What happens next?

  1. Contact us

    Contact us today to discuss your project. We’re ready to review your request promptly and guide you on the best next steps for collaboration

    Same day

  2. NDA

    We’re committed to keeping your information confidential, so we’ll sign a Non-Disclosure Agreement

    1 day

  3. Plan the Goals

    After we chat about your goals and needs, we’ll craft a comprehensive proposal detailing the project scope, team, timeline and budget

    3-5 days

  4. Finalize the Details

    Let’s connect on Google Meet to go through the proposal and confirm all the details together!

    1-2 days

  5. Sign the Contract

    As soon as the contract is signed, our dedicated team will jump into action on your project!

    Same day

Our offices

Headquarters in Las Vegas, Nevada. Engineering office in Kyiv, Ukraine.

Las Vegas, United States

Headquarters PST (UTC-8)
5348 Vegas Dr, Las Vegas, Nevada 89108, United States

Kyiv, Ukraine

Engineering office EET (UTC+2)
44-B Eugene Konovalets Str. Suite 201, Kyiv 01133, Ukraine

Let’s work together!

Leave a request and we will contact you as soon as possible

Contact form for Pharos Production. Submit your name, email and message to reach our team directly. Free consultation, no commitment.

Your contact details
Please enter your name
Please enter a valid email address
Please enter your message
* required

We typically reply within 1 business day