How Much Does It Cost to Build a Mobile Banking App Like N26?

Sudeep Srivastava April 11, 2024
Cost to Build a Mobile Banking App Like N26

The financial technology landscape is rapidly evolving, and with it, the interest in mobile banking applications. Among these, the N26 app stands as a prominent example. As users increasingly turn to digital solutions for their banking needs, the demand for seamless and secure mobile banking experiences has never been higher.

When businesses plan to invest in such an app, the foremost thing they need to consider is the N26 app development cost. Now, there are various elements that impact the overall cost  including design intricacies, security measures, and functional complexities.

According to recent reports, the digital payment market is on a steep rise in Europe. It’s projected to expand from $56.8 billion in 2022 to an impressive $224 billion by 2030. This growth, calculated at a CAGR of 18.70% during the forecast period, highlights the vast potential of investing in mobile banking apps.

Understanding these dynamics is essential for anyone venturing into this field. Stay tuned as we delve deeper into these aspects in this blog.

Maximize the $224B digital banking market with expert guidance. Navigate complexities and position your app for success with our unparalleled support

Benefits of Investing in a Mobile Banking App Like N26

Mobile banking apps like N26 have transformed the way we handle our finances. They bring a multitude of advantages to users, revolutionizing traditional banking methods. These apps offer exceptional convenience, allowing users to manage their finances from anywhere at any time. Let us look at the key benefits in detail below.

Benefits of Creating a Mobile Banking App Similar to N26

  • Easy Account Accessibility: Check balances, view statements, and make transactions quickly and easily.
  • Real-Time Notifications: Stay informed about account activities, enhancing security and fraud detection.
  • Advanced Budgeting Tools: Set spending limits and track expenses for better financial management.
  • Innovative Saving Features: Encourage efficient money-saving habits through intuitive app options.
  • Elimination of Physical Bank Visits: Manage banking needs without visiting a branch, saving time and effort.

These advantages have fueled the interest of entrepreneurs and financial institutions that are looking to build an app like N26. This trend is a testament to the digital shift in banking services. When evaluating the cost to develop an app like N26, it’s perceived as a strategic investment that aligns with the extensive benefits these apps provide. For businesses, such an app significantly boosts customer engagement and satisfaction. It also opens doors to tailored financial services and personalized user experiences.

Moreover, these apps are a treasure trove of user data, offering insights for continuous service improvement. In summary, a mobile banking app like N26 isn’t just a digital tool; it’s an essential component in modern finance management, embodying convenience, security, and user-centric innovation.

Cost to Develop an App Like N26

As discussed above, the cost to develop an app like N26 varies widely based on several factors. The geographical location of the development team significantly influences the budget. For instance, hiring developers in North America or Western Europe could cost between $100 to $250 per hour. In contrast, Eastern Europe and Asia offer more affordable rates, ranging from $30 to $100 per hour.

The N26 app development cost also depends on the app’s complexity. A basic version with essential features might start at around $50,000. However, incorporating advanced functionalities like AI, ML, and biometric security can push costs upwards of $300,000. The more complex the features, the higher the investment needed.

When planning to develop a mobile banking app like N26, the choice of platforms plays a crucial role. Developing for a single platform, like iOS or Android, might be more cost-effective, varying between $50,000 – $150,000. However, a cross-platform app reaching a broader audience can cost over $300,000 due to additional development complexities.

Moreover, mobile banking app development costs can escalate with ongoing maintenance, updates, and ensuring compliance with banking regulations. These aspects are essential for the app’s long-term success and user trust.

Key Factors Influencing the Development Cost of a Mobile Banking App Like N26

Determining the cost to develop an app like N26 involves deep consideration of several crucial factors. These factors range from technical complexity to geographical influences. Here are the key elements that significantly shape the development budget.

Factors Affecting the Cost to Develop an App Like N26

Platform Choice (iOS, Android, Cross-Platform)

Choosing the right platform significantly influences the N26 app development cost. Opting for iOS or Android has distinct cost implications due to different development environments. Cross-platform development, while offering broader reach, may increase complexity and costs. It’s essential to assess the target market’s preferred platforms before deciding.

The choice between native and cross-platform development affects both the budget and the app’s performance. Deciding on the platform early in development ensures efficient budget allocation and resource planning. Ultimately, the platform choice plays a pivotal role in the overall development strategy.

Security and Compliance Measures

Security is paramount in mobile banking, heavily influencing the cost to build an app like N26. Implementing high-grade encryption and secure authentication mechanisms is essential but costly. Compliance with financial regulations like GDPR or PSD2 adds to the complexity and expense. Regular security audits and adherence to international banking standards increase the developmental workload.

Investing in cybersecurity measures is non-negotiable for user trust and legal compliance. Robust security infrastructures, although expensive, are critical for protecting user data. These measures ensure a safe banking environment, reflecting directly on the app’s credibility and long-term success.

Custom Features and Advanced Functionalities

Incorporating custom features and advanced functionalities significantly impacts the development cost. Personalized user experiences and innovative tools differentiate an app in the competitive market. Advanced N26 app features such as biometric authentication, AI-driven financial advice, and real-time notifications require specialized development. These features enhance user engagement but necessitate additional resources and time. Customizing user interfaces and integrating unique functionalities can escalate costs.

However, they are essential for delivering a superior user experience. Balancing innovative features with cost considerations is key to developing a successful mobile banking app. This balance ensures the app meets user expectations while remaining financially viable.

User Interface and User Experience Design

The user interface (UI) and user experience (UX) design are crucial in determining the costs of creating an app like N26. An intuitive and attractive UI requires skilled designers, which can be expensive. The UX design’s complexity, focusing on user journey and interaction, impacts the budget. Balancing aesthetics with functionality is essential but increases development time and cost.

Investing in UI/UX design ensures the app is user-friendly and engaging. A well-designed app leads to higher user retention and satisfaction. The cost reflects the effort to create an app like N26 that’s both visually appealing and easy to navigate. Effective UI/UX design is instrumental in app success.

Location of the Development Team

The location of the development team significantly affects the N26 app development cost. Hiring developers from Europe typically incurs higher costs, ranging from $50 to $150 per hour. In contrast, teams in Asia offer more budget-friendly options, with rates between $20 and $50 per hour. This disparity is due to differing economic conditions and living standards in each region. This crucial decision impacts both budget and development quality. Balancing cost with expertise and market understanding is essential for successful app development. The team’s location shapes the project’s financial and qualitative aspects.

Integration with Banking and Financial Services

Integrating with existing banking and financial services is a critical factor in the cost to make an app like N26. This integration involves secure connections with bank servers and financial institutions. It requires sophisticated APIs and reliable data encryption methods. These technical requirements add complexity and cost to the development process. Seamless integration ensures real-time updates and transactions, which is essential for user satisfaction.

The process involves extensive testing for security and functionality. Such integrations also demand ongoing maintenance for consistent performance. This factor significantly influences the development timeline and budget, reflecting the need for specialized skills and resources.

Maintenance, Updates, and Scalability

Ongoing maintenance, updates, and scalability play a vital role in the cost to develop a mobile banking app like N26. Regular maintenance ensures the app’s smooth operation and security. Updating the app with new features keeps it competitive and appealing to users. Scalability is essential to accommodate growing user bases and transaction volumes. These aspects require continuous investment post-launch. They contribute to the app’s longevity and relevance in the market.

Effective maintenance and updates prevent technical debt and obsolescence. Scalability ensures the app adapts to changing market demands and user needs, which is crucial for long-term success.

Understanding these factors helps in accurately estimating the cost to create an app like N26 and plan the budget effectively. This comprehensive insight is essential for successful mobile banking app development.

[Also Read: How Much Does it Cost to Build a Mobile Banking App Like Chime?]

Essential Features for a Mobile Banking App Like N26

A mobile banking app’s success hinges on its features, particularly for an app like N26. From user convenience to advanced security, every aspect plays a pivotal role. Here are the essential features of an app like N26 that you can include in your app to provide a memorable customer experience.

Features for Developing an App Like N26

Real-Time Transaction Alerts

Real-time alerts are crucial for keeping users informed about their account activities. They enhance security and help in quick fraud identification. This feature is vital when you develop a mobile banking app like N26. It ensures users stay updated on transactions, providing peace of mind and instant oversight of their finances.

AI-Powered Personal Financial Management

AI-Powered Personal Financial Management offers users insightful financial advice. It analyzes spending habits to help users manage their finances better. This intelligent feature in an app similar to N26 personalizes the banking experience, making money management more efficient and user-friendly.

Machine Learning for Fraud Detection

Machine Learning for Fraud Detection is one of the most sought-after N26 app features that is essential for securing financial transactions. It uses advanced algorithms to identify suspicious activities in real time. Implementing this feature in an app like N26 significantly enhances security, protecting users against potential fraud and financial threats.

Voice-Enabled Commands

Voice-enabled commands in a banking app streamline user interaction. They offer convenience and accessibility, especially for hands-free operations. Integrating this feature while you make an app like N26 enhances user experience, allowing easy account management through voice commands.

Customizable Dashboards

Customizable dashboards allow users to personalize their banking experience. This feature enables users to access their most used functions quickly. It improves navigation and efficiency, making financial management more user-friendly.

Peer-to-Peer Payments

Peer-to-peer payments facilitate easy and quick money transfers between users. This feature impacts the N26 app development cost but is essential in modern banking apps. It enhances the app’s utility, allowing users to send and receive money conveniently with just a few taps; hence, you should include this feature in your N26-like app.

Also read:- How Banking-as-a-service is Enabling Financial Inclusion

Integration with Other Financial Tools

Integrating with other financial tools expands the app’s functionality. This integration increases the cost of developing an app like N26. However, it is an essential component of banking app development as it allows users to manage all their financial needs in one place. It helps in enhancing user convenience and financial control.

Financial Goal Setting and Tracking

Financial goal setting and tracking empower users to manage their savings and spending efficiently. This feature, significant when planning to build an app like N26, helps users set and monitor financial objectives, contributing to better financial discipline and awareness.

Advanced-Data Analytics for Spending Insights

Advanced data analytics provide users with valuable insights into their spending habits. It helps users understand their financial behavior, enabling smarter budgeting and spending decisions.

Also read:- Chatbot Banking App

Advanced Security Features like OTP and Two-Factor Authentication and Biometric Authentication

Incorporating advanced security features is crucial in the process of creating an app like N26. OTP, two-factor authentication, and biometric security provide robust protection against unauthorized access, enhancing user trust and app integrity.

Personalized Notifications and Offers

Personalized notifications and offers are essential to develop a mobile banking app like N26. They enhance user engagement by providing tailored updates and promotions based on individual user preferences and transaction histories.

Also read:- Metaverse in banking

Incorporating these features can significantly elevate a banking app’s functionality and user experience. They are key to replicating the success and appeal of an app like N26.

Step-by-Step Process to Build a Mobile Banking App Like N26

Building a mobile banking app akin to N26 requires a strategic and comprehensive approach. Here is an eight-step guide for the N26 app development process.

Steps to Build a Robust Mobile Banking App Like N26

  1. Market Research and Analysis: Begin by understanding the banking app market. Analyze competitors, identify target audiences, and define the unique value proposition for your app similar to N26.
  2. Requirement Gathering and Planning: Collect detailed requirements for your app. This includes defining features, compliance needs, and technological considerations. This step is crucial in the N26 app development process and lays the groundwork for subsequent phases.
  3. Choosing the Development Team: Select the right development team based on expertise, experience, and cost considerations. This decision significantly impacts the quality and cost of mobile banking app development like N26.
  4. Designing the User Interface and Experience: Focus on creating an intuitive and engaging user interface. A well-designed UI/UX is key for user retention and satisfaction in an app similar to N26.
  5. App Development: Develop the app across chosen platforms (iOS, Android, or cross-platform). This stage involves coding, integrating APIs, and implementing security measures in the N26 app development process.
  6. Testing and Quality Assurance: Rigorously test the app for functionality, usability, security, and performance. Quality assurance is essential to ensure a flawless user experience in an app similar to N26.
  7. Deployment: Once tested, deploy the app on respective app stores. Ensure all regulatory and compliance measures are met before launch as part of the N26 app development process.
  8. Post-Launch Support and Updates: Finally, provide ongoing support and regular updates. Continuously enhance the app based on user feedback and evolving market trends.

Following these steps methodically ensures a thorough development process, leading to a successful and robust mobile banking application. Each step is pivotal in creating an app that resonates with users and stands strong in the competitive market.

Elevate Fintech's future with our development services. From market research to seamless deployment, shape the digital banking future with us!

Appinventiv is the Perfect Choice for Your N26-like Mobile Banking App Development

At Appinventiv, we pride ourselves on being at the forefront of mobile banking app development. We possess a deep understanding of the cost to develop an app like N26 and are committed to delivering exceptional value. As a dedicated Fintech app development company, our team of experts brings together industry insights and technical prowess to craft every aspect of your app, from user experience design to advanced security implementations.

We recognize the importance of balancing quality with the mobile banking app development cost, ensuring our clients receive the best possible return on their investment. Our commitment extends beyond mere development; we strive to see your vision of an N26-like app come to fruition, standing out in the competitive financial technology market.

We recently developed a dedicated FinTech app India’s leading enterprise Bajaj Finserv. The app helped the merchant in increasing their merchant onboarding. In addition to this, the seamless app is now capable of witnessing 3 lakhs+ transactions per day.

Bajaj Finserv 

As a dedicated development firm, our experts also helped a leading bank in Europe automate its banking processes using artificial intelligence and machine learning technologies. The AI-powered chatbot created by our team allowed the bank to witness a 20% increase in customer retention and 35% reduction in manual processes.

Get in touch with Appinventiv to turn your concept into a successful, market-leading mobile banking app.


Q. How much does it cost to develop an app like N26?

A. The cost to develop an app like N26 typically ranges from $50,000 to over $300,000. This variation depends on the app’s complexity, feature set, security measures, and the platforms it’s being developed for. Custom functionalities, advanced security protocols, and multi-platform compatibility can significantly increase the cost.

Q. What are the key factors that influence the cost of building a mobile banking app like N26?

A. Key factors influencing the cost of building a mobile banking app like N26 include the complexity of features, choice of development platform (iOS, Android, or Cross-Platform), design intricacies, security and compliance requirements, and the geographic location of the development team. Each of these elements contributes to the overall development cost.

Q. How long does it take to make an app like N26?

A. Developing an app like N26 generally takes about 6-12 months. The time frame varies based on the app’s complexity, number of features, design sophistication, and the development process’s efficiency. More advanced and feature-rich apps tend to require a longer development period.

Sudeep Srivastava
Co-Founder and Director
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