Thinking of building a neobank app?

Confused by the costs? Not sure where your money actually goes?

Don't worry I’ve got answers.

I’ll explain where your money really goes and how to launch wisely, whether you build from scratch or choose a white label solution.

✅ Know what to expect
✅ Avoid beginner mistakes
✅ Plan with confidence

This guide covers all that and more. It's perfect for founders, PMs, and curious fintech minds.

What is Neobank?

A neobank is a digital-only bank that operates without physical branches. It offers financial services like opening accounts, money transfers, payments, and savings through a mobile app or website. Neobanks focus on convenience, low fees, and user-friendly experiences, making banking more accessible and modern.

How Much Does It Cost to Develop a Neobank App? 

If you’re thinking about launching a neobank, one of the first questions that probably comes to mind is the cost to develop a neobank app. On average, you can expect to spend anywhere between $150,000 and $400,000 or more for a minimum viable product (MVP).

Now, that range depends a lot on what you want your app to do. If you're starting with the essentials like account creation, onboarding, and simple transactions, the cost will be on the lower side. But if you’re planning to include features like virtual cards, savings goals, peer-to-peer transfers, lending services, or financial analytics, the price will go up.

This estimate usually covers everything from the app’s design and development to backend systems, third-party integrations, infrastructure, and meeting compliance requirements.

So when you're thinking about the cost to develop a neobank app, keep in mind that it really comes down to the features and experience you want to deliver to your users.

What Are You Really Paying for in a Neo Bank App?

Let’s talk about where your budget really goes when you build a neobank app. These are the key parts you’re paying for throughout the process.

1. Banking Infrastructure
To provide real financial services, you’ll likely work with a Banking as a Service provider like Synapse, Unit, or Solaris. They give you access to features like account creation, money transfers, and card processing.
These providers usually charge monthly fees and take a small percentage of each transaction. You’ll also need developers to set up and connect everything properly.

2. Compliance and Security
This part is critical. You’ll need to meet financial regulations, run Know Your Customer checks, and monitor transactions for fraud or suspicious activity.
Tools like Onfido or Alloy are often used here, and they come with their own pricing. Your app must also protect sensitive data through secure architecture and strong encryption.

3. Mobile and Web Development
Your app is the main way people interact with your neobank. Whether they’re using iOS, Android, or a desktop browser, the experience needs to be fast, clear, and easy to use.
This includes features like setting up accounts, viewing transactions, managing cards, adjusting preferences, and receiving notifications.

4. Backend Development
The backend handles all the logic behind the scenes. It connects your app to the banking platform, manages data, processes transactions, and keeps everything running efficiently.
It also enables features like reports and analytics, which can be useful as your app grows. A strong backend ensures speed, reliability, and scalability.

5. Security and Testing
Security is a top priority when working with financial data. You’ll need to build in things like encryption, authentication, fraud detection, and data protection.
Testing is just as important. Before launch, the app needs to go through functional testing, security checks, and performance testing to make sure it all works as expected.

6. User Experience and Interface Design
Your design directly affects how users feel about your product. A clean, intuitive layout builds trust and makes the app easy to use.
This includes thoughtful navigation, fast load times, and simple interactions. Investing in design helps reduce confusion, lowers support requests, and keeps users satisfied.

What’s the Best Way to Get Started?

When you’re building a neobank app, you usually have two options. You can build everything from scratch or start with a white-label platform or a Banking as a Service partner.

Building from scratch gives you full control over the design, features, and user experience. It’s a good option if you want something fully customized, but it takes more time and costs more.

Using a white-label solution helps you launch faster and with a smaller budget. Most of the features are already built, so you can get to market quickly. The downside is that you may have fewer customization options and might need to share some revenue.

To help you decide, ask yourself:

• Do I want to launch quickly, or am I focused on long-term development?

• How important is it to control every part of the app?

• Do I want the app to stay easy to use, or add more features later? 

Your answers can help guide you toward the right path based on your goals, budget, and timeline. 

Final Thoughts 

Building a neobank app is not a simple tech project. You are not just building an app. You are building trust. You are managing people’s money. You are entering a highly regulated industry.

That’s why the cost makes sense. And that’s also why planning, design, security, and compliance are so important. These are not extras. They are essentials.

If you’re planning to launch a neobank product for your business, a specific audience, or even a wider market, make sure you’re setting it up for long-term success. Work with the right team, understand the full cost, and build with care from day one.

Need help figuring out how much it will cost to build your neobank app or what your MVP should include?

Hashcodex is your trusted fintech development partner. We focus on building secure, reliable, and user-friendly banking products that meet real-world expectations. From early planning to launch, we help you make smart decisions, avoid costly mistakes, and deliver a product ready for long-term success.

We’ve worked with teams at every stage and understand what it takes to turn a neobank concept into a fully functional product.

Book a Free Demo