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How to Develop a Banking App Like Chime: A Comprehensive Guide

develop an app like chime

Are you leveraging the power of mobile banking to transform your financial institution? In 2023 alone, over 76% of Americans have used a mobile banking app like Chime to streamline their financial activities. These platforms offer more than just transactional capabilities; they are pivotal in shaping financial habits and security. 

For both investors and financial institution leaders looking to build a mobile banking app, it is essential to understand the nuances of the process. This blog will guide you through the operational frameworks and strategic decisions that you need to make in order to create apps that not only emulate the success of entities such as Monzo and Chime but also beyond the limits of what is possible in the realm of digital banking. 

Projected to reach $1.82 billion by 2025, the mobile banking market is expanding at an annual growth rate of 12.2%. 

The trend is not just growing; it’s evolving, as highlighted by Ryan Caldwell, founder & CEO of MX:  

“Americans are turning to mobile banking as a way to take control of their finances and plan for their economic future.” 

This sentiment is underpinned by the increasing adoption of digital banking solutions, especially among millennials and Gen Z. Remarkably, 98% of millennials and 99% of Gen Z regularly use mobile banking apps for various financial tasks, including depositing checks, checking credit ratings, and keeping track of account balances.

As the journey into mobile banking app development continues, the demand for high-quality, secure applications becomes more apparent. Choosing the right development partner or hiring a banking app developer who is equipped with the expertise and foresight to navigate this complex field will be essential. This blog serves as your starting point for understanding how to develop a mobile banking app that meets and exceeds modern financial needs. 

A brief about mobile banking app named Chime,

Chime stands apart in the fintech industry as it is a financial technology startup rather than a conventional bank. Millions of people have come to trust it since its software allows for quick transactions with only a few taps. Without having to worry about unintentional costs, users can easily monitor the balances of their accounts and manage their spending. Additionally, Chime expands on its user-friendly strategy by providing access to more than 60,000 fee-free ATMs at establishments such as CVS, Walgreens, and 7-Eleven.

Why consider building a mobile banking app like Chime? 

Adopting a digital-first approach through a mobile banking app like Chime can significantly reduce manual banking operations. This shift allows banks and financial institutions to redirect their focus toward enhancing strategic services, thereby boosting sales and improving customer retention. Here’s how embracing Chime’s business model could revolutionize your operations:

Chime’s Features: Enhance Your App with Similar Offerings

How to Develop a Mobile Banking App Like Chime

Are you aiming to develop an app like Chime and tap into the evolving market of digital banking transformation? Mastering the mobile banking app development process is crucial and involves much more than just coding.

Step-by-Step Process to Create an App Like Chime:

Getting up a team of experienced banking app developers is the first step towards creating a mobile banking app. However, this step emulates the functionality and popularity of Chime. Additionally, these professionals should be well-versed in the most recent advancements in digital banking as well as every facet of the mobile app development process.

You may create an app similar to Chime that not only satisfies the needs of today’s clients. It also makes a name for itself in the crowded mobile banking market by concentrating on these crucial elements. Work with a development team that understands the technical aspects of creating a banking app. This ensures the success of your project from the ground up.

How long does it take to build a mobile banking app like Chime?

Have you ever wondered how long it takes to transform an initial app idea into a fully operational mobile banking platform? Developing an app like Chime is not just about coding—it’s about creating a seamless, secure, and engaging user experience. This process aims to stand out in the competitive fintech landscape.

Phase 1: Ideation and Conceptualization: 

The first step in our mobile app development process involves deep-dive brainstorming sessions. Here, we flesh out your project idea, laying the groundwork with a comprehensive, well-sketched plan that aligns with your strategic goals.

Phase 2: Prototyping and Validation: 

Moving forward, our focus shifts to prototyping. This crucial stage allows both developers and stakeholders to preview the app’s functionality, ensuring alignment with the envisioned end product. It’s where ideas begin to take shape, offering a tangible glimpse into the future.

Phase 3: Development and Quality Assurance: 

With a prototype in hand, our team of expert banking app developers steps in to build the actual application. This phase is complemented by rigorous quality assurance testing. This ensures that every feature operates flawlessly under various scenarios, guaranteeing reliability and security.

Phase 4: MVP Development and Market Introduction: 

The development of a Minimum Viable Product marks the highest point of the process (MVP). This version includes all the necessary features. It’s then shown to a small group of people to gather insightful feedback before making any last-minute changes. Your app is prepared to launch into the market after a successful MVP trial.  

From concept to launch, the process usually takes four to five months. Ready to develop a banking app that has the potential to completely change the mobile banking market? Think of hiring experienced developers from outside. They understand the ins and outs of banking and have experience developing banking apps. Using a tried-and-true, methodical mobile app development process, realize your concept.

What is the cost of developing a mobile banking app like Chime?

Are you thinking about developing a Chime-like mobile banking app and are curious about the possible expenses? An app like Chime can be developed for a very different price depending on several different development-related factors. Ideally, the mobile app development process typically takes around 4 to 5 months to complete a project. However, the exact timeframe can vary depending on the complexity of your app and your specific needs. Let’s dive deep and understand the pricing breakdown by functionality.

Pricing Breakdown by Functionality

These generalized pricing estimates give you an idea of what you might expect to pay when you build a mobile banking app like Chime. Remember, every detail from the app’s functionality to the chosen technology can influence the final cost. 

Factors Affecting the Cost to Develop an App Like Chime 

What aspects of developing an app like Chime vary in cost, and how can you efficiently manage your budget? Examine the main elements affecting the price of creating a Chime-like mobile banking app.

Authentic Pricing Example:

Unlocking the authentic pricing example unveils the financial landscape of developing an app like Chime, offering clarity amidst cost complexities.

Learn how several factors affect the total cost of your app development process.

FactorsDescriptionImpact on Cost
Features and FunctionsThe complexity and range of features, such as account management, bill payments, fund transfers, etc., significantly influence development costs.High
Third-party APIsIntegration with external services for functionalities like payment gateways, data analytics, or security enhancements can add to development costs.Moderate to High
Security FeaturesImplementing robust security measures like encryption, authentication methods, and compliance with regulatory standards is crucial but can increase development expenses.High
Location of DevelopmentThe geographical location of your app development partner affects costs due to differences in labor rates, taxes, and operational expenses across regions.Moderate to High
Hourly ChargesDevelopment rates vary based on the experience and expertise of developers, with senior developers commanding higher hourly rates than junior developers.Moderate to High
UI/UX DesigningCreating an intuitive and visually appealing user interface and experience requires skilled designers and adds to development costs.Moderate
Technology StackThe choice of programming languages, frameworks like Flutter, databases, and tools impacts development time and costs, with newer or specialized technologies often adding to expenses.Moderate to High
Platform SelectionDeveloping for multiple platforms (iOS, Android) or choosing cross-platform development affects costs due to additional testing, optimization, and compatibility efforts.Moderate to High

Understanding these factors and their impact can help you make informed decisions. It also allows you to optimize your budget effectively while developing an app like Chime.


How much time does it take to develop an app like Chime?

What are the advantages of building an app like Chime for a financial institution?

What are the latest mobile banking trends that financial institutions should be aware of?

How to start the development of a banking app?

What are the latest mobile banking trends?

Biometric authentication, like fingerprint and facial recognition, is also gaining popularity for enhanced security. Real-time data analytics and personalized financial insights are becoming must-have features. However, let’s not forget the rise of contactless payments and digital wallets, offering convenience and speed in transactions. Keeping an eye on these trends can help you stay ahead in the dynamic world of mobile banking apps!


“In conclusion, developing a mobile banking app like Chime involves careful planning and strategic vision. It also requires a deep understanding of the latest trends and technologies in the fintech industry. You can create a successful app that meets the evolving needs of your target audience by addressing key factors such as user experience, security, functionality, and cost.

If you’re ready to embark on this exciting journey of mobile banking app development, consider partnering with Kody Technolab. Additionally, our team of experienced banking app developers is well-versed in digital banking transformation strategies. We can guide you through the entire development process, from concept to launch. We’re here to turn your vision into reality and help you build a cutting-edge app that stands out in the competitive market. Contact us today to hire banking app developers who are dedicated to your success!

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