How to Evaluate a SaaS Application Development Company for a Fintech Project?

[siennawhitaker]

I am currently vetting partners for a high-security financial platform and need advice on how to choose a reliable saas application development company. My main concern is finding a team that doesn't just build "generic" web apps but truly understands multi-tenancy architecture and SOC 2 Type II compliance.

When looking for a saas application development company, should I prioritize those with their own internal DevOps teams for AWS/Azure management, or is it better to hire a firm that focuses strictly on the frontend/backend logic? I’m also interested in how they handle API-first design specifically, if they have a proven track record of building scalable microservices that won't result in massive technical debt two years down the line. If you’ve worked with a saas application development company on a project requiring real-time data processing, what red flags did you notice during the initial discovery phase?

 

[xavironix]

Frankly speaking, the largest red flag that I have ever witnessed is their response that they are specialists in everything. Assuming they pretend to do fintech, healthcare and e-commerce all on the same cookie cutter stack, flee.

 

[aerovexin]

Without having an internal DevOps team, things are not going to work out. Fintech requires close VPC setups and IAM functions that even a generalist dev does not understand how to manage. Allowing a company that is logic-only to handle your AWS is like asking them to breach some data.

 

[darianfletcher]

I’ve worked with a few. Find a saas application development company that would demonstrate you a real SOC 2 audit report. When they claim to be using AWS, hence they are compliant, then they are lying. AWS is not out of compliance; their code and processes are likely not to be.

 

[noctivarx]

Lol, typical Reddit. "Just build it yourself." OP did not want a lecture but a partner. On my part, I would view their github. In the event that their API documentation resembles a middle school assignment, their API-first claim is rubbish.

 

[draymion]

About the technical debt - ask them about their automation of testing. Many of these companies move quick and break stuff, which is okay in a cat photo application, but in a fintech SaaS? In 18 months, you will have to rewrite the entire backend.

 

[kaelthorne]

I am facing the same problem here bro. cries Every expert company I have engaged with simply wants to take a simple CRUD template and sell it to me at $150k. It is almost impossible to find a team that is familiar with multi-tenant database sharding.

 

[rextonova]

Me too. In earnest, the world of business is rubbish at the moment. Everybody now is an AI and SaaS expert.

 

[lucienvaros]

Unless they refer to the concept of Idiempotency when discussing your API-first system of dealing with financial transactions, they are not fintech savvy. You can not make duplicate payments due to a retry logic error.

 

[altorayne]

Is it me or are all these companies on the same WordPress template that they use on their own site? Even when they are not capable of creating a special web site, how will they create a complicated microservices structure?

 

[keironflux]

I know, but, unfortunately, I have the same problem. I have researched five companies this month and they could not provide a direct response to how they go about processing real-time data streaming over WebSockets or Polling.

 

[zenkairo]

In fact, the largest red flag in the discovery is the situation where they provide a fixed price without even looking at your data schema. A real saas application development firm will demand a paid discovery phase as a way of mapping out the microservices initially.

 

[valkeren]

Same. This is because, I require a partner who will not abandon me with a spaghetti code after the MVP is completed.