Banking Software Development Companies in Canada for 2025
Author: Jennifer Smith
Last updated January 30
Canada's banking software development landscape is characterized by innovation and technological expertise, highlighted by top companies in this sector. These companies offer a variety of services, from user-centric design to advanced technological solutions. Each organization has a unique approach to addressing complex digital challenges, reinforcing Canada's status as a technological innovation hub. This introduction explores these leading firms, demonstrating how they combine creativity and technology to deliver exceptional software solutions. This guide presents a detailed compilation of the top 20 banking software development companies in Canada, providing essential information to assist you in choosing the right technology partner for your needs.
Overview: Velmie delivers outstanding services designed for financial institutions and banks. Their cloud-native, modular software platform facilitates the development of unique fintech solutions that emphasize safety and scalability. Known for its advanced technology and service-oriented architecture, Velmie ensures regulatory compliance, giving large banks peace of mind. Additionally, Velmie offers remarkable stability, supporting over 20 million active users with nearly constant availability at 99.9%. Banks using Velmie have broadened their service offerings and achieved revenue growth estimates up to six times faster than industry peers.
Services provided: mobile and web appt customization, IT consulting, API development, cloud services, quality assurance and testing, system integrations.
Tech Stack: Angular, Golang, Flutter, MySQL, Gin, Lumen, Gorm, Twirp, Redux, RxJS.
Price per hour: $30 – $80
Rating: Clutch (4.8), Software Advice (5.0)
Number of employees: 50+
Founded: 2010
Min project: $20,000+
Overview: With a strong focus on the banking sector, CGI combines deep industry expertise with innovative technologies to help financial institutions drive efficiency and enhance customer experiences. Clients include Royal Bank of Canada, Scotiabank, and Bank of Montreal. CGI outperforms its competitors through its client-centric approach, extensive global network, and commitment to quality.
Services provided: Digital transformation, IT outsourcing, cybersecurity, data analytics, cloud computing, application development, and management.
Tech Stack: NET, Java, Python, JavaScript, AWS, Azure.
Price per hour: $25 – $49
Rating: Clutch (4.8)
Number of employees: 77,500
Founded: 1976
Min project: $1,000+
Overview: Synechron is a leading digital transformation consulting firm for the banking and financial services industry. Combining innovative technologies with industry expertise, Synechron delivers customized solutions to help clients achieve operational excellence and customer satisfaction. Clients include TD Bank, CIBC, and HSBC Canada. Synechron stands out with its innovative FinLabs, providing cutting-edge solutions for digital banking, blockchain, and AI.
Headquartered in New York, USA, Synechron has a significant presence in Toronto, Canada, with over 13,000 employees globally.
Services provided: digital strategy, business consulting, technology services, data and analytics, AI, blockchain, cybersecurity.
Tech Stack: Java, Python, .NET, JavaScript, React, Angular.
Price per hour: $50 – $99
Number of employees: 5,000+
Founded: 2001
Min project: $10,000+
Overview: Luxoft, a DXC Technology company, is a global provider of IT services and innovative solutions for the banking and financial services sector. Known for its deep expertise in software engineering and digital transformation, Luxoft helps clients navigate the complexities of modern banking. Clients include RBC, Scotiabank, and Manulife. Luxoft excels with its client-centric approach, agile methodologies, and global delivery model.
Services provided: Application development, digital transformation, system integration, data analytics, AI & Machine Learning, cloud computing.
Tech Stack: .NET, Java, Python, JavaScript, Angular, React.
Price per hour: $100 – $149
Number of employees: 10,000+
Founded: 2000
Min project: $5,000+
Overview: FDM Group is a global IT services provider with offices spanning across Europe, the USA, and Asia. Founded in 1991, they offer a wide range of digital solutions to financial institutions. FDM Group has experienced exponential growth over the years and has firmly positioned itself as one of Europe's fastest-growing companies and the largest IT graduate employer in the UK. FDM Group's clients span a wide spectrum of industries and regions globally. They include prominent corporations in finance, technology, healthcare, telecommunications, retail, and government sectors. These clients rely on FDM Group for their expertise in IT services, including software development, digital transformation, cybersecurity, and consulting.
Services provided: custom software development, web development, mobile app development, IT consulting, cloud solutions, data analytics.
Tech Stack: Java, .NET, Python, JavaScript, Angular, React, Node.js.
Price per hour: $50 – $99
Number of employees: 5,000+
Founded: 1991
Min project: $25,000+
Overview: Capco is a global technology and management consultancy specializing in financial services. Their banking experts offer digital transformation services to enhance banks' retail, commercial, and corporate offerings. Capco provides advisory expertise across the payment delivery cycle, including customer journey, card issuance, acceptance solutions, payments architecture, and modernization. They also assist businesses in leveraging open banking to retain and grow their customer base.
Services provided: mobile and web development, platform modernization, quality engineering, cloud services, DevOps and DevSecOps.
Tech Stack: .Java, .NET, Python, Java Spring, Scala, React, JavaScript, Angular, Typescript.
Price per hour: $25 – $49
Number of employees: 1,000+
Founded: 1998
Min project: $10,000
Overview: IBM Canada is a provider of innovative technology solutions for the banking and financial services industry. With a focus on digital transformation and advanced analytics, IBM helps banks enhance their operational efficiency and customer experience. IBM Canada stands out with its extensive research capabilities, advanced technologies, and client-centric approach.
Services provided: cloud computing, AI & Machine Learning, blockchain, cybersecurity, data analytics, IT consulting, application development.
Tech Stack: Java, .NET, Python, JavaScript, IBM Cloud, AWS.
Price per hour: $50 – $99
Number of employees: 10,000+
Founded: 1917
Min project: $50,000+
Overview: MNP Digital is an IT consulting and software development firm focused on delivering innovative solutions to the banking and financial services sector. MNP combines technical expertise with industry insights to drive digital transformation and operational excellence. Clients include Credit Union Central of Canada, Conexus Credit Union, and Meridian Credit Union. MNP Digital differentiates itself with its client-focused approach, agile methodologies, and deep industry expertise.
Services provided: Digital transformation, software development, IT consulting, data analytics, cybersecurity, cloud solutions.
Tech Stack: .Net, Java, SPA frameworks, Python, JavaScript, AWS, Azure.
Price per hour: $100 – $149
Number of employees: 6,000+
Founded: 1958
Min project: $25,000+
Overview: PwC Canada is a professional services firm offering a comprehensive range of technology and consulting services for the banking and financial services industry. PwC leverages its global expertise to help clients navigate complex challenges and achieve their strategic goals.
PwC Canada excels with its integrated approach, extensive industry knowledge, and commitment to quality.
Services provided: Digital transformation, IT consulting, cybersecurity, data analytics, blockchain, cloud computing.
Tech Stack: Angular, React, Azure Sql, MS SQL, MongoDB, .NET, NODE, AWS.
Price per hour: $150 – $199
Number of employees: 5,000+
Founded: 1998
Min project: $50,000+
Overview: Capgemini is a global leader providing consulting, technology, and digital transformation services across various industries. The Technology and Engineering Services segment supports client organizations with cloud, cybersecurity, quality assurance, testing, and new technologies, enhancing internal IT and engineering capabilities. Capgemini's Application Services segment focuses on the development, implementation, and maintenance of IT applications, including system integration and application support.
Services provided: custom software development, web development, mobile app development, IT consulting, digital transformation, cloud solutions.
Tech Stack: Java, .NET, Python, JavaScript, PHP, React, Node.js.
Price per hour: $100 – $149
Number of employees: 10,000+
Founded: 1998
Min project: $10,000+
Overview: By utilizing Wipro FullStride Cloud Services, banks can adopt cloud platforms to drive innovation, achieve new revenue streams, and enhance business growth while ensuring robust processes and controls. Wipro's collaborative partner ecosystem and advanced capabilities in AI, fintech, and digital innovation enable banks to improve efficiency and effectiveness across the entire banking value chain. Through strategic partnerships, investments in emerging technologies, and a global network of innovation labs, Wipro supports banks in reshaping payments, digital channels, credit services, and core banking operations.
Services provided: migration and modernisation, infrastructure services, cloud security, cloud applications, AI.
Tech Stack: Java, Groovy, HTML5, JavaScript, JSON, Ruby, MATLAB, C#, C++, ASP.NET, Python, Scala, CSS 3, XML, Processing, COBOL, YAML, ES6, Go and Perl.
Price per hour: $25 – $49
Number of employees: 10,000+
Founded: 1945
Min project: $10,000+
Overview: Atos provides a comprehensive range of services for the banking industry, focusing on digital transformation, security, and operational efficiency. Their offerings include cloud migration and management, robust cybersecurity solutions, and AI-driven data analytics to enhance decision-making and risk management. Atos also supports core banking modernization, improving efficiency and agility, while providing advanced payment solutions and personalized customer engagement tools. By leveraging these tailored services, Atos helps banks navigate financial complexities, ensure compliance, and deliver superior customer experiences securely and efficiently.
Services provided: digital transformation, IT consulting, software development, cybersecurity, data analytics, cloud computing.
Tech Stack: Java, HTML5, JavaScript, JSON, Kotlin, Ruby, C#, C++, ASP.NET, PHP, Python, Scala, CSS 3, XML, Java EE, COBOL, Go, Perl and Groovy.
Price per hour: $25 – $49
Number of employees: 95,000
Founded: 1997
Min project: $10,000+
Overview: Accenture provides a wide range of services tailored to the banking industry, including retail banks, commercial and corporate banks, central banks & regulators, speciality finance and payment businesses. They assist banks in adopting cloud technologies, enhancing cybersecurity, and leveraging data analytics for better decision-making and risk management. Accenture also supports the implementation of AI and machine learning to drive innovation in customer service and automate processes. By providing strategic consulting, advanced technology solutions, and industry-specific expertise, Accenture helps banks optimize their operations, improve customer experiences, and stay competitive in a rapidly evolving financial landscape.
Services provided: digital transformation, IT consulting, software development, cybersecurity, data analytics, cloud solutions.
Tech Stack: Java, Python, HTML5, JavaScript, JSON, Kotlin, Ruby, C#, C++, ASP.NET, PHP, Scala, Swift, Crystal, CSS 3, Visual Basic, XML, Java EE, Processing, COBOL, YAML, Go, Perl and Groovy.
Price per hour: $25 – $49
Number of employees: 10,000+
Founded: 1989
Min project: $50,000+
Overview: Infosys provides comprehensive services for the banking industry, leveraging the expertise of over 50,000 financial services technologists to drive digital transformation for global financial brands. Their Centers of Excellence combine deep domain and technology knowledge with an understanding of cross-functional financial services and business processes, offering specialized, transformative solutions. Infosys helps banks modernize their IT infrastructure, adopt advanced technologies like AI and machine learning, and enhance customer experiences through digital channels. Additionally, Infosys supports regulatory compliance, cybersecurity, and operational efficiency, enabling banks to stay competitive and innovative in a rapidly changing financial landscape.
Services provided: digital transformation, IT consulting, software development, cybersecurity, data analytics, cloud computing, AI and ML, DevOps.
Tech Stack: Java, .NET, Python, JavaScript, AWS, Azure,C++, dotnet.
Price per hour: $25 – $49
Rating: GoodFirms (4.6)
Number of employees: 10,000+
Founded: 1981
Min project: $50,000+
Overview: Seasia Infotech provides a range of digital transformation solutions, including custom software development for CRM, API development, and enterprise applications. The company utilizes technologies such as AI, ML, cloud computing, and blockchain to optimize business operations and support growth. Seasia offers AI and ML services to streamline processes and enable data-driven decisions. As an offshore enterprise development company, Seasia uses its expertise in cloud, blockchain, and AI technologies to enhance business efficiencies worldwide, managing projects from conceptualization to implementation.
Services provided: mobile and web development, system design and architecture, testing services, cybersecurity, data analytics, infrastructure services.
Tech Stack: Java, Python, JavaScript, Node.js, PHP, React.
Price per hour: $25 – $49
Rating: Clutch (4.8), GoodFirms (4.8)
Number of employees: 500+
Founded: 2000
Min project: $5,000+
Overview: Code Creators Inc. is a Microsoft partner software development company and digital transformation consultancy based in Canada. With a global team of over 100 IT experts, they specialize in various Microsoft solutions, including Custom Software Development, SharePoint Solutions, AI Solutions, Chatbot Development, Power BI Consulting, and API Integrations with platforms like Microsoft Dynamics and Salesforce. As proud Microsoft Gold Partners in Canada, Code Creators Inc. leverages extensive technological expertise to develop cutting-edge intranets, automate complex processes, create AI chatbots, and deliver actionable data insights customized to meet specific client needs.
Services provided: IT consulting, software development, sharepoint development, quality assurance and testing, IOT development, AI.
Tech Stack: PHP, SharePoint, Magento, WordPress, Drupal, OpenCart, Shopify, MVC, CakePHP, Zend, CodeIgniter, and Laravel.
Price per hour: $25+
Rating: Clutch (5.0)
Number of employees: 50+
Founded: 2010
Min project: $1,000+
Overview: Cognizant (Nasdaq-100: CTSH) provides a wide array of tailored services for the banking and fintech industries, focusing on digital transformation and enhancing operational efficiency. They specialize in developing digital banking solutions that improve customer engagement and streamline operations. Cognizant also supports core banking modernization efforts, helping banks upgrade systems for greater scalability and agility. Their expertise extends to payment solutions, regulatory compliance, risk management, AI and analytics for personalized customer experiences, cybersecurity, and cloud services.
Services provided: processes automation, cloud computing, data and AI, enterprise platform services, security, software engineering, quality engineering and assurance.
Tech Stack: Java, Spring Boot, JavaScript, HTML5, CSS3, React.
Price per hour: $25 – $49
Number of employees: 100,000+
Founded: 1994
Min project: $1,000+
Overview: Tech Mahindra is a global systems integrator known for its innovative and customer-centric IT services. With a presence in over 90 countries and a workforce of over 107,200 professionals, Tech Mahindra serves more than 818 global customers, including Fortune 500 companies. They are recognized among Asia's Fab 50 companies by Forbes (2015). Tech Mahindra's banking experts specialize in end-to-end system integration and transformation services, covering legacy modernization, cloud solutions, open banking, automation, analytics, cybersecurity, regulatory compliance, and risk management. They bring extensive experience in digital banking solutions with platforms like Temenos, Avaloq, FIS, and Finastra, ensuring a smooth digital transformation process.
Services provided: implementation, system integration, testing, cloud services, data migration, DevOps, software development.
Tech Stack: Java, Python, C++, ASP.NET, Scala, CSS 3, XML, Processing, COBOL, HTML5, JavaScript, JSON and C#.
Price per hour: $30+
Number of employees: 100,000+
Founded: 1986
Overview: Danavero provides outsourced software services, application development, and technology solutions with a presence in North America and Europe. They specialize in creating, customizing, and implementing software solutions and technologies through consulting and development services. Their operations use a combination of on-shore and near-shore models, with business and consulting teams in North America and development services from Eastern Europe. Danavero assists businesses with website upgrades, CRM integration, mobile app development, online presence enhancement, and search engine optimization. They employ an experienced team, offer full technical project support, use agile methodologies, and ensure timely delivery.
Services provided: consulting services, systems integration, software development, cloud services, data analytics, AI and ML, payment solutions, security.
Tech Stack: Java, Groovy, HTML5, JavaScript, JSON, Kotlin, Ruby, C#, C++, ASP.NET, PHP, Python, Scala, Swift, CSS 3, XML, Processing, COBOL, YAML, Go and Perl.
Price per hour: $50 – $99
Rating: Clutch (4.8)
Number of employees: 10,000+
Founded: 1988
Min project: $25,000+
Overview: Danavero provides outsourced software services, application development, and technology solutions with a presence in North America and Europe. They specialize in creating, customizing, and implementing software solutions and technologies through consulting and development services. Their operations use a combination of on-shore and near-shore models, with business and consulting teams in North America and development services from Eastern Europe. Danavero assists businesses with website upgrades, CRM integration, mobile app development, online presence enhancement, and search engine optimization. They employ an experienced team, offer full technical project support, use agile methodologies, and ensure timely delivery.
Services provided: custom software development, web and mobile app, DevOps.
Tech Stack: Java: EE, CE PHP: Drupal 7/8, Symfony, WordPress JS: Angular.JS, React.JS, Node.JS
Price per hour: $25 – $49
Rating: Clutch (4.9), GoodFirms (4.9)
Number of employees: 50+
Founded: 2015
Conclusion
These companies possess robust portfolios and expertise in Fintech in Canada. Businesses can make informed decisions by conducting thorough due diligence, evaluating solutions and pricing, and speaking with clients. This list is designed to assist in finding the right banking software development company to support your digital transformation journey.