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
Summary
RaftLabs builds custom banking software for digital banks, lending platforms, credit unions, and fintech companies building banking-adjacent products. We develop digital banking applications, lending origination and servicing platforms, payment infrastructure, KYC/AML compliance tooling, core banking API layers, and AI-powered banking features. All banking software is built with financial services regulatory requirements in mind -- auditability, data security, and compliance documentation from day one.
PCI-DSSAnd PSD2-aware architecture from sprint one
·10-16Week delivery for digital banking features
·100+Software products shipped
·FixedCost delivery
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 are not acceptable), and it has to satisfy the compliance and audit requirements that regulators impose.
Both of those requirements have to be designed in from the start -- not retrofitted after the product is built.
What we build
Digital banking applications
Customer-facing banking apps: account dashboards, balance and transaction history, fund transfers, payment initiation, statement downloads, and customer service integration. Mobile-first design for the digital-first bank customers who don't visit branches. Secure authentication (biometrics, OTP, step-up auth for high-value transactions), session management, and device fingerprinting. Real-time transaction feeds via banking API integration or direct core banking connectivity.
Lending origination and servicing
Digital lending platforms: application intake with document collection, automated underwriting with credit bureau integration, decisioning workflows with manual review queues, disbursement processing, and loan servicing with repayment tracking, arrears management, and customer communications. For consumer and business lending, mortgage origination, and BNPL. Regulatory compliance for Truth in Lending, Equal Credit Opportunity Act, and state lending regulations built into the workflow design.
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. Payment reconciliation, settlement, and chargeback management. PCI DSS compliance requirements considered in the architecture from day one. API design for third-party payment integrations and embedded finance use cases.
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 built into the product rather than bolted on.
Core banking modernisation
Modernising legacy core banking systems without stopping the bank. API layer over existing core systems to enable digital products while the core is gradually replaced. Microservices architecture for new products that run independently of the legacy core. Data migration from legacy formats with reconciliation and audit. Strangler fig pattern for incremental core modernisation. We assess the existing system before recommending the modernisation approach.
Banking AI and automation
AI-powered banking features: credit risk scoring with custom ML models, fraud detection and anomaly detection, document extraction for loan origination (income verification, bank statement analysis), AI-powered 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.
Problems we solve in banking
Core banking system too rigid for new product launches
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 taken the market. The core becomes a constraint on commercial decisions rather than infrastructure that enables them.
Applicants start an online loan application and hit a request for documents to be emailed or posted. Processing takes days with no status visibility. Drop-off rates are high and the cost per funded loan is inflated by the manual handling at every step. Digital competitors complete the same process in hours.
Customer onboarding taking days when digital competitors do it in minutes
KYC document collection happens via branch visit or email. Identity verification is a manual process. Account opening confirmation takes 24 to 72 hours. Every friction point in onboarding loses customers who expect the same speed from their bank that they get from every other digital service they use.
Compliance reporting requiring manual data compilation
Regulatory reports for BSA, FinCEN, or open banking standards require staff to extract data from multiple systems and compile it manually. The process is error-prone and consumes significant compliance team time. Audit trail gaps create examination risk even when the underlying transactions were compliant.
Fraud detection rules too slow to catch real-time transaction patterns
Static fraud rules set at product launch do not adapt to evolving fraud patterns. By the time a rule is updated, losses have already occurred. Real-time anomaly detection requires a different architecture -- one that can process transaction patterns as they happen rather than reviewing them in batch after the fact.
Branch operations generating paper-based workflows that have not been digitised
Account maintenance, loan inquiries, and service requests handled at branches generate paper forms that are manually keyed into back-office systems. The process creates data entry errors, processing delays, and a compliance trail that exists only on paper -- unavailable for audit or reporting without manual reconstruction.
How we work with banking clients
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.
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.
We build in two-week sprints. At each sprint review you see working software you can test -- not a PowerPoint of what is coming. Compliance-critical components are tested against your requirements at each sprint, not deferred to a final QA phase where fixing problems is expensive.
Most banking software projects require integration with a core banking system (Temenos, FIS, Fiserv, Jack Henry, or proprietary legacy), payment networks, credit bureaus, and identity verification providers. We handle the integration work and document it for your internal technical teams and compliance reviewers.
Before go-live, we conduct penetration testing and 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. We remain available post-launch for any issues that arise.
What to ask any banking software team
Compliance and security
How are PCI-DSS and KYC requirements handled in the architecture, not just the policy documentation?
Is there a full audit log for every transaction and data access event?
How is PSD2 open banking API compliance approached if relevant to the product?
What penetration testing process is followed before production launch?
Core banking integration
What core banking systems have you integrated with before and how?
How do you handle the API layer when the core does not expose modern REST endpoints?
What is your approach to data reconciliation between the new system and the core?
Delivery and commercial terms
Is the project cost fixed or billed hourly with scope growth risk?
Do you own the source code and infrastructure, or is it hosted by the vendor?
How are regulatory changes post-launch handled in terms of cost and timeline?
Banking software development cost
Scope
Estimated range
Timeline
Digital onboarding feature
Digital onboarding feature
$35,000--$70,000
10--14 weeks
Loan origination system
Loan origination system
$60,000--$120,000
14--20 weeks
Customer mobile banking app
Customer mobile banking app
$80,000--$150,000
16--24 weeks
Full digital banking platform
Full digital banking platform
$200,000+
9--18 months
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, comprehensive 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 AI-powered financial applications. Every financial services project involves compliance requirements and data security standards as baseline constraints -- not optional extras.
