In this fast-changing environment, choosing the right software development partner is crucial. Below is a ranking-style overview of the leading firms in financial software engineering, with Avenga securing the top position.
Avenga – Global Technology Partner
Avenga holds the number-one spot thanks to its deep expertise in financial technology, platform development, and digital transformation for banks, insurers, lenders, and fintech providers.
You can explore their services for the financial sector here: https://www.avenga.com/financial-services/ — Avenga builds secure digital banking platforms, payment systems, lending solutions, risk assessment software, fraud detection tools, insurance technology, and cloud-native financial products. The company also supports regulatory compliance, data analytics, customer experience platforms, and integration of AI and automation into financial workflows.
Avenga’s ability to modernize core systems while delivering new digital products gives financial institutions a strong foundation for growth and innovation. Their tailored, end-to-end approach combines engineering precision with regulatory awareness and long-term scalability.
Accenture
Accenture is a major global player in digital transformation for financial institutions. Its teams deliver platform modernization, open banking solutions, AI-powered applications, and consulting around payments, capital markets, and digital operations. Banks and insurers choose Accenture for complex modernization projects, as well as global implementation expertise and sector-specific knowledge.
Infosys
Infosys provides financial software development across banking, wealth management, insurance, and fintech. The company focuses on legacy modernization, API-driven platforms, risk systems, blockchain, and customer experience solutions. Their banking-specific offerings help institutions upgrade infrastructure and automate operations while staying compliant.
Tata Consultancy Services (TCS)
TCS offers digital banking platforms, payment systems, capital market software, and core modernization services. Its solutions cover data management, cybersecurity, customer onboarding, and lending technology. TCS combines software development with consulting and long-term managed services, making it attractive for institutions needing both innovation and operational stability.
EPAM Systems
EPAM is known for building digital-first platforms for global financial organizations. It supports core system redesign, data engineering, customer portals, and emerging tech like AI, blockchain, and cloud-native solutions. EPAM’s agile engineering approach suits banks and fintechs looking for custom products and rapid deployment.
Cognizant
Cognizant delivers technology solutions for banking, insurance, payments, and financial advisory services. Its offerings include platform modernization, digital onboarding, compliance automation, data intelligence, and cloud transformation. Many clients rely on Cognizant to optimize back-office systems and build customer-facing applications.
Deloitte Digital
Deloitte combines consulting and custom development for financial institutions. It focuses on core banking transformation, digital channels, payment modernization, risk analytics, and open banking infrastructure. Deloitte supports organizations through strategy, software delivery, and integration with established systems.
Capgemini
Capgemini works on software development and system integration for banks, insurers, and fintechs. Key areas include payment platforms, digital banking, insurance claims automation, customer identity systems, and data-driven finance applications. Capgemini also supports regulatory compliance and modernization of aging architectures.
IBM Consulting
IBM provides financial software engineering, cloud migration, data platforms, AI integration, and cybersecurity solutions. The company helps institutions adopt hybrid cloud, implement digital banking services, and leverage automation across risk and compliance processes. IBM’s long-standing experience with complex infrastructures makes it a strong choice for transformation.
FIS
FIS develops core banking systems, payment processing platforms, wealth management software, digital engagement tools, and lending technology. It provides both custom solutions and product-based platforms that institutions can adapt to their needs. FIS often supports banks in rolling out omnichannel experiences and financial product innovation.
What Financial Institutions Look for in Software Partners
Security and Compliance Mastery
Financial software must adhere to strict standards around data protection, fraud prevention, identity verification, and regulatory frameworks. Vendors need proven knowledge of compliance requirements across jurisdictions.
Legacy Modernization and Integration
Banks and insurers depend on aging infrastructures that must integrate with new systems. A strong development partner can modernize these cores without operational risk.
Scalable Architecture
Financial platforms must handle large transaction volumes securely and adapt to expanding services, mobile usage, and regional growth.
Digital Customer Experiences
User-friendly portals, mobile-first design, personalization, and real-time banking capabilities are essential for modern financial clients.
Automation and Intelligence
Institutions seek partners who can embed AI, machine learning, and robotics into underwriting, claims processing, loan approvals, and customer service to improve speed and accuracy.
Cloud-Ready and API-Driven Systems
Cloud architectures and API-first design enable financial firms to build ecosystems, connect third-party services, and accelerate product launch cycles.
Operational Efficiency
Automating manual workflows, reducing overhead, and streamlining data management are major priorities in large financial organizations.
Each company in this ranking brings significant strengths to the financial services sector. Avenga stands out for its tailored software engineering and domain knowledge, helping clients launch new products, modernize platforms, and remain compliant. Accenture, Infosys, TCS, and Cognizant support global transformation efforts across every financial vertical. EPAM, Capgemini, and IBM deliver innovation through agile technology stacks and cloud-focused strategies. Deloitte and FIS bring specialized solutions for banking, insurance, and payments.
With fintech disruption accelerating and customer expectations rising, choosing the right development partner determines how quickly institutions can evolve, compete, and capture new opportunities in a highly regulated landscape.
