Business
June 2026 jobs report: US economy added jobs at a steady pace
Global advisor to CEOs and corporate boards Ram Charan joins ‘Mornings with Maria’ to discuss AIs impact on jobs and productivity and the biggest threats facing CEOs as supply chain and geopolitical risks grow.
The U.S. economy added jobs at a steady pace in June despite headwinds caused by elevated inflation and uncertainty over the Iran war’s economic impact.
What are the key findings of the June 2026 jobs report?
The Bureau of Labor Statistics on Thursday reported that employers added 57,000 jobs in June. That figure was below the estimate of economists polled by LSEG, who estimated 110,000 jobs added.
The unemployment rate dipped to 4.2%, which was also below the estimate of 4.3%.
The U.S. economy added jobs at a slower pace than expected in June. (Al Drago/Bloomberg via Getty Images)
Revisions were made to the payroll numbers for the prior two months, with April revised down by 31,000 from a gain of 179,000 to 148,000; while May’s report was revised down from 43,000 from a gain of 172,000 to 129,000.
Taken together, employment in April and May was 74,000 jobs lower than previously reported.
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What sectors added or lost the most jobs in June 2026?
Private payrolls added 49,000 jobs in June, well below the LSEG poll’s prediction of 110,000 jobs. May’s private sector job gains were also revised down from a gain of 120,000 to 97,000.
Government payrolls grew by 8,000 jobs last month, while the increase of 52,000 in May was revised down to 32,000 jobs.
The manufacturing sector added 3,000 jobs in June, in line with the estimate of economists polled by LSEG. May’s figures were revised down from a gain of 7,000 jobs to a loss of 2,000.
Healthcare continued to add jobs last month, with the sector adding 21,500 jobs in June. That’s a slower pace than the average monthly gain of 38,000 over the last 12 months. Hospitals added 9,200 jobs for the month, contributing to a significant portion of the gain.
Leisure and hospitality employment declined by 61,000 in June, which reflected weaker than usual seasonal hiring. The sector has shown little net change in employment over the course of 2026 to date.
FEDERAL RESERVE LEAVES INTEREST RATES UNCHANGED AS WARSH ERA BEGINS
Federal Reserve Chair Kevin Warsh and other Fed policymakers left interest rates unchanged at their meeting last month. (Al Drago/Bloomberg via Getty Images)
What does the June 2026 jobs report mean for the workforce?
The number of long-term unemployed, defined as those who have been jobless for 27 weeks or more, was little changed at 1.9 million in June but is up 286,000 over the year. The long-term unemployed accounted for 27.3% of all unemployed people last month.
The number of people employed part-time for economic reasons also held relatively steady at 4.7 million in June. These individuals would’ve preferred full-time employment but were working part-time because their hours were reduced, or they weren’t able to find full-time jobs.
The labor force participation rate decreased by 0.3 percentage points to 61.5% in June, while the employment-population ratio edged down by 0.2 percentage points to 59%. Both figures were changed little over the year after accounting for annual population control adjustments.
ACTING LABOR SECRETARY PRESSURES 53 STATES AND TERRITORIES TO TACKLE UNEMPLOYMENT INSURANCE FRAUD
The leisure and hospitality sector shed jobs in June. (Daniel Acker/Bloomberg / Getty Images)
What experts are saying about the June 2026 jobs report
LPL chief economist Jeffrey Roach noted that, “Firms are still adding to their payrolls, but hours worked are below pre-pandemic levels as firms cut back labor utilization.”
“A concerning trend is the increasing flow of individuals dropping out of the job market altogether. For now, the labor market is holding, giving the Fed opportunity to stay focused on price stability,” Roach added.
Seema Shah, chief global strategist at Principal Asset Management, said that the June jobs report “paints a softer picture of the labor market than investors have become accustomed to, but it should ultimately be welcomed by markets.”
“The slowdown in payroll growth challenges the narrative of renewed labor market strength that has been building in recent months but, importantly, reinforces the view that the Federal Reserve is under little pressure to tighten policy,” Shah said.
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What does it mean for interest rate cuts?
The Federal Reserve is expected to hold interest rates steady in the near term due to stubborn inflation remaining elevated above the central bank’s 2% target, though the market sees a strong possibility of rate hikes later this year.
The CME FedWatch tool shows a 41.8% probability that the Fed will hike the federal funds rate by 25-basis-points from its current target range of 3.5% to 3.75%, versus a 21.7% chance of rates remaining at their current level.
What does the June 2026 jobs report mean for the market?
The benchmark S&P 500 index rose about 0.7% on Thursday during morning trading following the release of the June jobs report.
The Dow Jones Industrial Average was up about 0.6%, while the Nasdaq Composite was up a little more than 0.7%.
I am an individual investor with over 12 years of research experience in financial markets, with a strong focus on dividend investing and long-term portfolio building. Over time, my main goal has been to create a retirement-style portfolio for myself and my family, centered on stability, reliable income, and steady compounding over the long run. My approach is disciplined and quality-focused. I look for strong companies with simple and understandable business models, consistent cash flows, and a proven ability to pay and grow dividends over time. For me, long-term consistency matters far more than short-term gains or speculative opportunities. I am particularly interested in sectors such as consumer staples, healthcare, financials, industrials, and selected technology companies that have reached a stage where they can support stable and growing shareholder returns. I prefer businesses with durable competitive advantages, responsible management teams, and a strong track record of capital allocation. While I do not hold formal financial certifications or institutional affiliations, I have spent more than a decade actively studying and following markets. My experience is built on reading financial reports, analyzing earnings results, and tracking macroeconomic trends over time. This hands-on learning process has helped me develop a consistent and long-term-oriented investment framework. My motivation for writing on Seeking Alpha is to share my perspective on dividend investing and long-term wealth building. I hope to contribute useful, research-based ideas for investors who are also focused on building sustainable income portfolios. At the same time, I value being part of a community where ideas are shared and challenged, as this helps refine my own thinking and improve my investment approach over time.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Lamborghini Unveils the Urus SE Performante Hybrid SUV and Calls It the Fastest Super SUV in the World
MILAN — Lamborghini revealed a new high-performance hybrid version of its best-selling Urus SUV Wednesday, calling the vehicle the fastest super SUV in the world and cementing the Italian automaker’s strategic bet on plug-in hybrid technology over the all-electric future it briefly considered before abandoning earlier this year.
The Urus SE Performante is a plug-in hybrid electric vehicle combining a 4-liter twin-turbocharged V-8 gasoline engine with an electric motor to produce 812 horsepower and approximately 738 foot-pounds of torque. Lamborghini says the combination accelerates from zero to 100 kilometers per hour, roughly equivalent to zero to 60 miles per hour, in 3.3 seconds and achieves a top speed of 312 kilometers per hour, or 194 miles per hour, figures the company says justify its “fastest super SUV” claim.
Lamborghini Chief Executive Stephan Winkelmann framed the new model as a defining moment for the brand.
“It is very important. It’s a game changer,” Winkelmann told CNBC in an interview accompanying the reveal.
The Performante designation signals that this is not simply a refreshed Urus with modest upgrades but a more aggressive, track-informed variant of the vehicle. The exterior reflects that intent, with a larger grille and hood scoops that distinguish it visually from the standard Urus SE lineup, alongside interior improvements that Lamborghini said will be detailed closer to the vehicle’s U.S. market arrival. The company declined to specify pricing for the Performante at this stage, pointing to closer alignment with the American market launch as the appropriate moment for that disclosure. The base 2026 Urus SE starts at approximately $250,000 to $280,000 depending on configuration, providing a rough baseline from which the Performante’s premium can be estimated.
The Urus has been the commercial engine of Lamborghini’s modern success since its introduction nearly a decade ago. Winkelmann said the model represents approximately 50% of the brand’s global sales annually, with total Lamborghini deliveries nearing 11,000 vehicles last year. That commercial weight makes every iteration of the Urus a strategically significant decision for a company that remains small by automotive industry standards but generates revenues entirely disproportionate to its unit volume.
The new Performante arrives against the backdrop of a significant strategic pivot Lamborghini announced in March, when Winkelmann confirmed the company was abandoning its previously stated plans for a fully electric model. The reversal came after Lamborghini assessed customer sentiment and concluded that demand for a pure electric Lamborghini among its target buyers was not materializing at the pace the company had initially anticipated.
“By observing the market … we saw that the acceptance curve of EVs for our type of customers is not increasing, and that therefore we decided to move away from a full-electric car into a plug-in hybrid,” Winkelmann said in a previous interview.
Wednesday’s Urus SE Performante reveal translates that strategic position into a specific product. Lamborghini is not simply walking away from electrification; it is choosing a form of electrification, the plug-in hybrid architecture, that it believes better suits both the performance expectations and the purchasing preferences of the ultra-luxury SUV buyer. The plug-in hybrid format preserves the visceral qualities of a high-displacement combustion engine while layering electric motor torque on top to improve both performance and, in lower-demand scenarios, efficiency. For a customer spending a quarter of a million dollars on an SUV, the argument is that a PHEV delivers the best of both worlds without forcing a compromise that a purely electric powertrain would require in the form of charging infrastructure, range anxiety or the absence of the combustion soundtrack that defines much of the Lamborghini ownership experience.
Winkelmann was careful when asked whether Lamborghini might eventually return to gasoline-only powertrains, declining to rule out the possibility in a characteristically measured response.
“Never say never,” he said when the question was put to him directly.
The Lamborghini announcement arrived shortly after rival Ferrari drew intense public criticism for the reveal of its first fully electric vehicle, the Ferrari Luce, in late May. The Luce’s reception was described as backlash-heavy, with a segment of Ferrari’s enthusiast community expressing vocal opposition to an electric vehicle from a brand historically defined by its naturally aspirated engine sounds and driving character. Winkelmann declined to comment directly on the Luce or the reaction it received when asked previously, but offered a broader perspective on the philosophy behind Lamborghini’s own approach.
“Innovation is paramount to success,” Winkelmann said. However, he added a qualification that implicitly addressed the controversy surrounding Ferrari’s EV: innovation should not be made for innovation’s sake or forced upon customers against their preferences.
Lamborghini is a subsidiary of Volkswagen AG, the German automaker that also controls Audi, Porsche and Bentley, among other brands. The broader Volkswagen Group has been navigating its own complex relationship with electrification across its various marques, with some brands pushing aggressively toward EV lineups while others, including Porsche, have sought to maintain hybrid options alongside expanding battery-electric ranges. Lamborghini’s EV pullback reflects the reality that the ultra-luxury end of the automotive market has behaved differently from the broader industry in its adoption of electric vehicles, with buyers at the extreme high end of the price spectrum showing greater resistance to the transition than some analysts had predicted when the EV investment wave peaked several years ago.
For now, Lamborghini’s roadmap is clearly focused on extracting maximum performance from the hybrid architecture while preserving the brand’s identity as a builder of viscerally exciting, extreme-performance vehicles. The Urus SE Performante, with its 812-horsepower output, 3.3-second sprint capability and 194-mile-per-hour ceiling, represents the current apex of that strategy, offering performance numbers that would have been considered extraordinary from any vehicle in any category just a few years ago.
Pricing and a formal U.S. launch timeline for the Urus SE Performante are expected to be announced closer to the vehicle’s arrival at American dealerships.
I am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by understanding the drivers behind a company’s financials, and ultimately, most often revealed by a DCF model valuation. This methodology doesn’t limit an investor into rigid traditional value, dividend, or growth investing, but rather accounts for all of a stock’s prospects to determine the risk-to-reward.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
The NBA offseason has already produced more blockbuster moves in one week than most leagues see in an entire year, and yet the rumor mill shows no sign of slowing down. From LeBron James’ still-unresolved free agency to whispers about Jayson Tatum’s availability and Nikola Jokic’s uncertain future in Denver, here are the ten storylines dominating NBA circles as the holiday weekend arrives.
1. LeBron James remains unsigned with no timeline in sight. ESPN reported that 12 teams contacted Rich Paul when free agency opened Tuesday, underscoring just how wide the market is for a 41-year-old who has told the league he is willing to accept the veteran’s minimum if it means playing for the right team at the right time. Paul has said he will survey all interested parties and bring options back to James before any decision is made. Golden State remains the most frequently cited destination given the Warriors’ openly stated pursuit, but the Cavaliers, Heat, 76ers, Timberwolves and Nuggets have all been linked in various reports. James has no reported timetable for his decision, prompting Bleacher Report to note simply that everyone should plan the July 4 weekend accordingly.
2. The Celtics received calls on Jayson Tatum too, and shut them all down. ESPN’s Shams Charania confirmed on Get Up that multiple teams called Boston about Tatum’s availability in the weeks surrounding the Jaylen Brown trade. “They shut those down completely,” Charania said. But the mere existence of those calls, combined with the relatively modest return the Celtics accepted for Brown, has fueled widespread speculation among league observers about the franchise’s long-term direction and whether anyone in Boston’s front office is truly untouchable.
3. Jalen Duren’s free agency has drawn serious interest from multiple teams including the Sacramento Kings. The Detroit Pistons hold his restricted free agency rights, which means they can match any offer sheet he signs. According to Chris Haynes, the Kings have been pursuing a sign-and-trade scenario to land the 22-year-old center, whose athleticism and rim protection appeal to contenders looking to upgrade the middle. Detroit, which came off a 60-win season and is focused on continuity, would likely match a reasonable offer, but Sacramento’s interest suggests the market for Duren could push his price into territory that gives the Pistons a decision to make. The Knicks are separately pursuing New Orleans Pelicans center Yves Missi to replace Mitchell Robinson, who agreed to a three-year, $47.4 million deal to join the Celtics.
4. Nikola Jokic’s future with the Denver Nuggets is increasingly uncertain. League sources have suggested that Jokic has not yet committed to signing an extension with Denver, leaving the franchise in a complicated position as it tries to respond to what has already been a difficult offseason. The Nuggets have made relatively modest moves so far, signing veteran guard Tyus Jones to a one-year deal, and Bleacher Report suggested the franchise will need to do something more ambitious if it wants to persuade the three-time MVP to stay long-term. One report indicated Jokic could be drawn to a situation alongside LeBron James if the right scenario materialized elsewhere.
5. The Golden State Warriors are still pursuing Anthony Davis despite Wizards resistance. Yahoo Sports’ Kevin O’Connor reported the Warriors’ plan involves acquiring Davis from Washington while using the roster flexibility created by Draymond Green’s player option declination to pursue LeBron James simultaneously. Washington general manager Will Dawkins has publicly stated the organization intends to keep Davis and that the two sides plan to discuss an extension in August. However, the persistent nature of Golden State’s interest, combined with Jimmy Butler’s presence as a potential trade chip and the franchise’s access to draft capital, means the rumor has not fully dissipated despite the Wizards’ stated position.
6. The Lakers made their first major post-LeBron move by acquiring Walker Kessler. Los Angeles completed a sign-and-trade with the Utah Jazz, securing the rim-protecting center on a four-year, $130 million deal with a player option in the fourth year, sending unprotected first-round picks in 2031 and 2033, along with first-round swaps in 2028 and 2030, to Utah. Jaxson Hayes simultaneously agreed to a two-year, $12 million deal with the Jazz. The Lakers also added guard Collin Sexton on a two-year, $19 million deal and are finalizing the addition of Quentin Grimes, suggesting the franchise is not simply waiting for James’ decision but actively rebuilding its roster in parallel.
7. Anfernee Simons ended up in Philadelphia despite interest from six other teams. The 76ers secured the former Portland Trail Blazers guard on a two-year, $12.3 million deal including a player option, adding a ball-handling and shooting option to the Jaylen Brown arrival. HoopsHype reported that six teams, including Golden State, Miami, Denver, Dallas and Indiana, all registered interest in Simons before he ultimately chose Philadelphia, illustrating the ripple effects of the Jaylen Brown trade reshaping Philadelphia’s backcourt almost immediately after it was announced.
8. The Celtics pivoted quickly after the Brown trade to sign Mitchell Robinson. Despite the controversy surrounding how Brown’s departure was handled, Boston wasted little time shoring up the frontcourt, agreeing to a three-year, $47.4 million deal with Robinson, the 28-year-old center who averaged 8.8 rebounds and 1.2 blocks per game last season for the Knicks. The signing keeps Boston in Eastern Conference contention around Jayson Tatum and the returning Kristaps Porziņģis.
9. Norman Powell returned to the Los Angeles area by way of the Chicago Bulls. The former Trail Blazer and Raptors wing agreed to a two-year, $45 million deal with Chicago, a surprising landing spot for a player who had been linked to contending teams throughout the early free agency period. His departure from Portland created additional roster space for the Trail Blazers, who are now working through how to integrate newly acquired Ja Morant alongside Damian Lillard.
10. Kyle Lowry will retire as a Toronto Raptor. Sportsnet’s Michael Grange reported Thursday that the 20-year NBA veteran will sign a ceremonial one-day contract to officially retire with the Raptors next week, closing the book on one of the most decorated Canadian basketball careers in league history. Lowry’s retirement announcement came the same week that his former teammate Kawhi Leonard agreed to return to Toronto, a confluence of old Raptors history and new Raptors present that gave Canada’s NBA market something to celebrate on both ends of the basketball timeline.
Everything Shaken, Little Really Stirred
Investor sentiment remains upbeat. In the grey market, Knack Packaging shares are trading at a premium of around 17% over the upper end of the price band, suggesting the potential for a healthy listing gain if current trends continue.
The IPO comprises a fresh issue of Rs 380 crore and an offer for sale (OFS) of up to Rs 59.5 crore by existing shareholders. The company has fixed the price band at Rs 161-170 per share, with a minimum application size of 88 shares.
Knack Packaging is set to list on both the BSE and NSE, with the tentative listing date scheduled for July 8.
Knack Packaging IPO Subscription Status
As of Day 3, the Knack Packaging IPO had been subscribed 83.3 times overall for the 1.89 crore shares on offer.
Retail Individual Investors (RIIs): Subscribed 20 times for their allotted 94.42 lakh shares, reflecting steady retail participation.
Non-Institutional Investors (NIIs): Saw strong demand, getting subscribed 140 times against 40.46 lakh shares, highlighting robust HNI interest.
Qualified Institutional Buyers (QIBs): Subscribed 154 times for 40.46 lakh shares, indicating moderate institutional demand.
Knack Packaging IPO GMP Today
Sentiment in the grey market remains upbeat for the Knack Packaging IPO, with shares trading at a grey market premium (GMP) of around 17% over the upper price band.
Based on current GMP trends, the IPO is expected to list near Rs 198 per share, suggesting a potential listing gain if market sentiment holds steady.
About the company
Knack Packaging is an integrated packaging solutions manufacturer engaged in producing Printed and Laminated Woven Polypropylene (PLWPP) bags, including pinch-bottom bags used across industries such as food grains, flour, sugar, pet food, fertilizers, chemicals, detergents, cement and construction materials.
The company exports to 71 countries and serves over 1,950 customers globally. It has an estimated 10.1% market share in India’s flexible bulk PLWPP bags segment and operates an integrated manufacturing model covering the entire production chain from polypropylene processing to printing and bag conversion.
Its customer base includes companies such as KRBL, Drools, DCM Shriram, Baba Agro Foods, while internationally it serves clients including Cargill and other global brands.
Financial performance
For FY26, the company reported revenue from operations of Rs 823.4 crore, up from Rs 736.5 crore in the previous year.
Net profit increased to Rs 92.8 crore from Rs 73.8 crore in FY25, while EBITDA improved to Rs 152 crore, with EBITDA margins expanding to 18.5%.
Utilisation of proceeds
The company plans to use the fresh issue proceeds primarily to fund the construction of a new manufacturing facility at Borisana in Gujarat, with around Rs 320 crore earmarked for capital expenditure. The remaining proceeds will be used for general corporate purposes.
What brokerages say
Choice Broking has assigned a “Subscribe for Long Term” rating to the IPO.
The brokerage believes Knack Packaging has built a strong competitive position through its integrated operations, export presence and consistent financial performance. It expects the company’s ongoing capacity expansion, shift towards owned manufacturing facilities and international growth initiatives, including its Mexico joint venture, to support long-term earnings growth.
However, Choice also highlighted risks from global economic slowdowns, customer concentration, foreign currency fluctuations and competitive pressures.
Anand Rathi has also recommended “Subscribe — Long Term” on the issue.
The brokerage believes the company is well positioned in the organised packaging industry with an integrated manufacturing model, strong export presence and growing demand for value-added packaging products. It also noted that increasing manufacturing capacity and improving operational efficiencies could support future growth.
Also read: Kusumgar’s Rs 650-crore IPO to open on July 8; entire issue an OFS
At the upper end of the price band, the IPO is valued at around 22.4 times FY26 earnings, which both brokerages consider broadly fair considering the company’s growth profile and export-led business model.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The bar for financial software keeps rising, and not by choice. Since the start of 2025, the EU’s DORA rules have required financial firms to demonstrate operational resilience, and PCI DSS 4.0 has made stronger authentication and continuous monitoring mandatory for anyone handling card data.
Work that used to be optional, the security and the compliance, is now table stakes, enforced by regulators.
For a product team, that changes the stakes of choosing a development partner. A firm that treats compliance as an afterthought can leave you failing an audit you cannot reschedule, or rebuilding a system that shipped to the wrong standard. The partners that hold up are the ones that meet these requirements by default, with certifications and case studies to prove it.
This guide profiles the top fintech software development companies for 2026, each with a fact box, a place in the comparison table, and a clear strength, with verified certifications throughout. Use it to match a partner to the financial product you are building and to the standards it must meet.
Build In-House or Hire a Development Partner?
One of the first decisions is whether to build with an in-house team or hire an external partner, and each has real trade-offs.
An in-house team gives you the most control and keeps knowledge inside the company, but hiring senior fintech engineers is slow and expensive, and a full team can sit idle once the heavy build is done.
A development partner brings people who have shipped financial products before, can start in weeks rather than months, and scales up or down as the work changes, though it asks for clear communication and good documentation to avoid knowledge gaps.
Many companies blend the two: a small in-house core that owns product and architecture, with an external partner supplying delivery capacity.
What matters most either way is proven fintech experience, since the domain is unforgiving of on-the-job learning.
How These Firms Made the Cut
We built this list of top fintech software development companies on evidence, not reputation. Every firm had to clear four checks:
| Criterion | What we required |
| Financial-domain delivery | A named product in banking, payments, lending, insurance, or wealth, backed by a real client or case study. |
| Compliance and certifications | Hands-on KYC, AML, PCI DSS, or PSD2 work, plus verified certifications such as ISO 27001 or SOC 2. |
| Verifiable reputation | Public Clutch or GoodFirms reviews, or documented results, are detailed enough to judge. |
| A distinct strength | A clear specialization, so the list helps you match a partner rather than rank near-identical ones. |
Top Fintech Software Development Companies, Reviewed for 2026
Nine firms made the list, each with a fact box and a short profile. The comparison table covers the essentials; the write-ups explain what each one does best.
| Company | Founded | HQ | Team | Clutch | Certifications |
| Relevant Software | 2013 | Warsaw, Poland | 100+ | 4.9 / 32 | ISO 27001, HIPAA, GDPR |
| Itexus | 2013 | Delaware, US | 160+ | 4.9 / 41 | SOC 2, PCI DSS, ISO 27001 |
| Inoxoft | 2014 | Philadelphia, US | 230+ | 5.0 / 74 | ISO 27001 |
| Django Stars | 2008 | Kyiv, Ukraine | 100+ | 4.8 / 61 | ISO 27001, ISO 9001, ISO 14001 |
| Cleveroad | 2011 | Claymont, US + Tallinn | 280+ | 4.9 / 80 (Clutch 1000 #11) | ISO 27001, ISO 9001, SOC 2 |
| S-PRO | 2014 | Zurich, Switzerland | 250+ | 4.9 / 46 | ISO 27001, ISO 27701 |
| 10Clouds | 2009 | Warsaw, Poland | 200+ | 4.9 / 95 | ISO 27001 |
| DashDevs | c. 2010 | London, UK | 100+ | 4.9 / 9 | ISO 27001, AWS |
| Netguru | 2008 | Poznan, Poland | 800+ | 4.8 / 73 | ISO 27001, PCI DSS, GDPR |
1. Relevant Software: built to the standards fintech now requires
| Founded | 2013 |
| Headquarters | Warsaw, Poland, and Valencia, Spain |
| Team | 100+ in-house engineers (92% senior) |
| Clutch | 4.9 / 30+ reviews |
| Certifications | ISO 27001, HIPAA, GDPR |
| Focus | Compliance-first banking, payments, and lending |
Relevant Software is one of the top fintech software development companies and the kind of partner the new compliance baseline rewards. Founded in 2013, it holds ISO 27001, HIPAA, and GDPR certifications and treats security and regulatory controls as architecture rather than paperwork, with 92% of its engineers being senior and 96% retention keeping that knowledge in-house. Its work spans digital and core banking, payments, lending, white-label products, and AI-based fraud and compliance tooling.
The results are documented: one lending client reported net profit up 25% year over year and a peak of roughly 7,000 loans handled smoothly after a platform rebuild, per its Clutch review, part of a record of 246 projects at a 9.8 Net Promoter Score.
2. Itexus: a fintech-only engineering partner
| Founded | 2013 |
| Headquarters | Dover, Delaware, US (engineering in Eastern Europe) |
| Team | 160+ (70%+ senior) |
| Clutch | 4.9 / 41 |
| Certifications | SOC 2, PCI DSS, ISO 27001 |
| Focus | Fintech-only: banking, payments, trading, wealth, crypto |
When a build spans multiple financial domains, a generalist starts improvising. Itexus does not: the Delaware-incorporated firm, with engineering across Eastern Europe, works only in fintech and has the range to match, digital banking, payments, trading, and wealth platforms, crypto wallets, and RegTech, for clients in more than twenty countries. More than 70% of its 160-plus engineers are senior, which keeps its multi-domain architecture coherent. It is SOC 2, PCI DSS, and ISO 27001 compliant.
3. Inoxoft: mobile banking and lending for startups
| Founded | 2014 |
| Headquarters | Philadelphia, US (delivery in Lviv, Tallinn, Tel Aviv) |
| Team | 230+ |
| Clutch | 5.0 / 74 |
| Certifications | ISO 27001 (Microsoft and Google Cloud partner) |
| Focus | Mobile banking, lending, AI financial analytics |
Startups that need a banking or lending app built to pass a compliance review are Inoxoft’s core audience. Headquartered in Philadelphia with delivery centers in Lviv, Tallinn, and Tel Aviv, the firm keeps mobile banking, lending platforms, and AI-driven financial analytics at the center of its fintech work, often as compliance-ready MVPs for US and European clients. Its engineers cover Flutter and React Native on mobile and .NET, Python, and Node.js on the backend, so cross-platform delivery stays under one roof. The team passed 230 people while holding a 5.0 Clutch rating across 70-plus reviews, and it is ISO 27001 certified and a Microsoft and Google Cloud partner.
4. Django Stars: Python backends for data-heavy fintech
| Founded | 2008 |
| Headquarters | Kyiv, Ukraine (US-incorporated) |
| Team | 100+ |
| Clutch | 4.8 / 61 |
| Certifications | ISO 27001, ISO 9001, ISO 14001 |
| Focus | Python backends; lending and mortgage |
Mortgage and lending platforms live or die on their data handling, which is where Django Stars fits. True to its name, the firm works in Python and Django, a stack suited to data-heavy financial backends, and it has put that to work on the MVP for the digital mortgage broker Molo Finance and on the MoneyPark platform, mostly for US, UK, and Swiss clients. Around 100 people, US-incorporated, with engineers in Kyiv; reports a 92.7% Net Promoter Score and carries ISO 9001, ISO 14001, and ISO 27001.
5. Cleveroad: full-cycle digital banking with a US presence
| Founded | 2011 |
| Headquarters | Claymont, US, and Tallinn, Estonia |
| Team | 280+ in-house engineers |
| Clutch | 4.9 / 80 (#11 on the 2025 Clutch 1000) |
| Certifications | ISO 27001, ISO 9001, SOC 2 |
| Focus | Full-cycle digital banking, crypto, AI |
A US business address with Eastern European engineering rates is a combination that founders often ask for, and Cleveroad offers it: registered in Delaware, with its main R&D hub in Tallinn and more than 280 in-house engineers. It ranked eleventh in the world on the 2025 Clutch 1000. Its fintech work is deliberately broad, digital and neobanking platforms, lending, payments, insurance tools, trading software, and blockchain wallets, with AI for fraud detection, and its standout project rebuilt the online banking ecosystem for the European Investment Bank under Swiss FINMA and FMIA rules. It holds ISO 9001 and ISO 27001 certifications and complies with PCI DSS, SOC 2, and GDPR.
6. S-PRO: Swiss banking, fintech, and blockchain
| Founded | 2014 |
| Headquarters | Zurich, Switzerland (Ukrainian roots) |
| Team | 250+ |
| Clutch | 45+ reviews |
| Certifications | ISO 27001, ISO 27701 |
| Focus | Swiss banking, crypto, and blockchain |
There are not many development firms a Swiss bank would shortlist, and S-PRO is one. Headquartered in Zurich with Ukrainian roots, it earns about two-thirds of its revenue in finance and specializes in Swiss banking and blockchain, with a white-label mobile banking constructor for the BaaS provider Treezor, a Swiss FinTech award for a client platform, and a crypto bank based in Zug among the results. Its location brings genuine experience with FINMA-regulated firms, and a team of around 250 backed by ISO 27001 and ISO 27701 for security and privacy.
7. 10Clouds: blockchain, AI, and design
| Founded | 2009 |
| Headquarters | Warsaw, Poland |
| Team | 200+ |
| Clutch | 4.9 / 95 |
| Certifications | ISO 27001 |
| Focus | Blockchain and Web3, AI, product design |
Recognition from both Deloitte and the Financial Times is rare for a studio of around 200, but 10Clouds has it. The Warsaw firm pairs blockchain and Web3 engineering with award-winning product design and a growing AI practice, a mix visible in its financial portfolio: TrustStamp’s identity verification, work on the Aleph Zero blockchain, and DCLEX, a stock-trading platform built on-chain with NFT identity. It is ISO 27001 certified with more than 70 Clutch reviews. For a crypto or tokenized product that also has to feel right, it covers both ends.
8. DashDevs: white-label neobank infrastructure
| Founded | c. 2010 (15+ years in fintech) |
| Headquarters | London, UK (Eastern European delivery) |
| Team | 100+ |
| Clutch | 4.9 / 9 |
| Certifications | ISO 27001, AWS partner |
| Focus | White-label neobank platform, payments |
For teams wary of vendor lock-in, DashDevs has an unusual pitch: it hands over the full source code. Its FintechCore platform is a white-label neobank core, with 60+ modules and 470+ API endpoints spanning KYC, card issuing, ledgers, and AML, that clients own outright. The London firm, with Eastern European delivery and roughly 15 years in financial software, used that foundation to launch the UK challenger bank Dozens in 9 months and counts Chip and RakBank among its clients. It is ISO 27001 certified and an AWS partner.
9. Netguru: design-led fintech and banking-as-a-service
| Founded | 2008 |
| Headquarters | Poznan, Poland |
| Team | 800+ |
| Clutch | 4.8 / 73 |
| Certifications | ISO 27001, PCI DSS, GDPR |
| Focus | Design-led fintech, banking-as-a-service, open banking |
When a Swiss private bank or a fast-growing African fintech needs a product that feels effortless, design stops being decoration, and Netguru built its reputation there. The Poznan firm, with more than 800 people and the largest on this list, leads with UX research and product strategy. Its fintech experience runs through digital banking, regtech, wealthtech, banking-as-a-service, and open banking, with backend and API work for the BaaS platform Solarisbank, a multi-country KYC and AML system for FairMoney, and products for the wealth manager Pictet. It works to GDPR, PCI DSS, and ISO 27001.
How Much Does It Cost to Build a Fintech Product?
Cost in fintech is driven more by complexity and compliance than by the number of features. Industry estimates for 2026 put a focused MVP at roughly $50,000 to $150,000, while a full, production-grade platform runs from about $200,000 to $500,000 and up.
Regulated products start higher because mandatory work like KYC, AML, and PCI DSS adds engineering time from the first sprint, and a fintech build typically takes 40 to 60 percent longer than a comparable app in another industry.
Where the team sits matters too: senior engineers in Central and Eastern Europe often bill around $50 an hour, compared with $150 to $250 in San Francisco or London. And the build is not the end of spending, since most teams budget another 15 to 20 percent of the cost each year for maintenance, security, and compliance.
How Long Does a Fintech Build Take?
Timelines depend on the scope and how much of the product has to be built rather than integrated. A focused MVP that leans on third-party services for payments and identity usually ships in three to five months. A growth-stage platform with more features and tighter controls takes six to nine months, and a regulated, enterprise-grade system can run nine to eighteen months or longer. Two things stretch schedules in ways teams underestimate. Security and compliance work adds testing and architecture time, which is why financial products take noticeably longer than consumer apps of similar size. And if the product needs a sponsor bank or a banking-as-a-service partner, those approvals alone can take three to six months and should run in parallel with development, not after it.
Conclusions
With compliance now mandatory rather than optional, the safest choice among the top fintech software development companies is the one that already builds to the standards your product must meet. So verify before you sign: ask which certifications a firm actually holds and for which entities, and ask to see a product shipped in your specific area. Then match the specialization to your need, whether that is a neobank core, a payments rail, a lending engine, or a polished consumer app. The firms here all clear the evidence bar; the right one is the specialist whose track record lines up with what you are building.
Abivax shares added to recent gains after the French biotechnology company moved to bolster its balance sheet through an upsized stock offering, signaling investor appetite in the wake of positive clinical-trial data.
Paris-listed shares in Abivax were up 5% at 123.40 euros in European morning trading Thursday, which would be a new all-time high if sustained until market close, according to FactSet data. This gave the company a market value of roughly 10 billion euros ($11.26 billion) after a 46% rally this week.
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Business
Dow Hits All-Time Record Close of 52,900 as Apple and Jobs Miss Send Blue Chips Soaring Before Holiday Weekend
NEW YORK — The Dow Jones Industrial Average climbed to a record closing high Thursday, surging nearly 595 points and firmly establishing itself as the market’s standout performer heading into the Fourth of July holiday weekend, even as the Nasdaq Composite slid for a second consecutive session and the semiconductor sector endured another wave of sharp selling that reopened questions about how much of the AI trade’s extraordinary first-half gains can be sustained.
The blue-chip index added 594.83 points, or 1.14%, to close at a record 52,900.07, also touching a new all-time intraday high of 52,903.85 during the session. The S&P 500 rose less than one point to finish essentially flat at 7,483.24, while the Nasdaq Composite dropped 0.8% to settle at 25,832.67. U.S. markets will be closed Friday in observance of Independence Day, which falls on Saturday this year, ending a holiday-shortened trading week that produced one of the more divergent performances between the Dow and the technology-heavy indexes in recent memory.
The Dow Jones Industrial Average scaled to record highs on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June.
The June employment report, released Thursday morning, delivered a notable miss against expectations. The U.S. economy added 57,000 jobs in June, well below the Dow Jones consensus estimate of 115,000. The unemployment rate, however, edged down to 4.2% from 4.3%, a reading that reflects a falling labor force participation rate rather than a surge in employment, and one that investors interpreted through the lens of Federal Reserve policy rather than labor market health.
Chris Zaccarelli, chief investment officer at Northlight Asset Management, framed the market’s reaction to the soft jobs number in terms of what it means for the Federal Reserve’s next move.
“This morning’s report is a stark reversal from recent reports because there were a lot fewer jobs created than expected, and prior months’ numbers were revised lower,” Zaccarelli said. “While the headline may be negative, slowing job growth, there could be a silver lining for markets, as it could force some of the more hawkish Fed officials to reconsider additional rate hikes to fight inflation.”
He added that the shift in emphasis could benefit equities broadly: “The employment mandate being brought back into focus could increase the odds of rates remaining on hold, which, all things being equal, would be better for markets than further tightening.”
The Dow’s strength was broad-based but concentrated in its more traditional, defensive and consumer-facing members rather than its technology components. 24 of the 30-strong holdings in the index rose today, enough to offset poor performances from Caterpillar (-3.20%) and UnitedHealth (-0.64%), which hold more influence in the price-weighted index. Apple (+4.46%) leads the index today, joined by McDonald’s (+3.34%) and others.
Apple’s gain was by far the most significant contribution to the index’s record close. Shares of the iPhone maker climbed nearly 5%, adding the equivalent of roughly 40 Dow points on its own, after Bloomberg reported the company had instructed component suppliers to prepare for a large-scale rollout of its first foldable iPhone this fall. The expected production target for the new form factor was reported at approximately 10 million units, up from earlier estimates of 7 to 8 million, a volume increase that investors read as a signal of strong consumer demand expectations for a product category Apple has not previously addressed.
The divergence between the Dow’s record performance and the Nasdaq’s decline illustrated in concentrated form the rotation trade that has defined much of the market’s narrative since the second quarter began. “The ‘Great Rotation’ trade persists into the third quarter as the blue boring names of the Dow Jones Industrials continue to attract inflows directly from recent profit taking money from tech stocks,” Jeff Kilburg, founder and CEO of KKM Financial, told CNBC. “This is extremely healthy and underscores the broadening breadth of equities for this continued bull market in its fourth year.”
The semiconductor sector bore the heaviest losses for the second consecutive session. Semiconductors fell for a second day in a row, weighing on the latter two benchmarks. The VanEck Semiconductor ETF dropped 4.5%, led by a 13.6% decline in Teradyne and a 11.5% slide for KLA. Nvidia shares also pulled back 1.4%, while Micron shares lost 5.5%. The two-day pullback in chip stocks follows an 82% first-half gain across the sector broadly, making some degree of consolidation expected even if the speed of Thursday’s decline surprised some observers.
CNBC also noted that Tesla fell despite strong delivery numbers, and Netflix jumped 5% in afternoon trading as a notable outlier within the otherwise struggling Nasdaq-100.
Alphabet fell roughly 1% after a European court upheld the 4.1 billion euro antitrust fine stemming from a 2018 European Commission ruling that Google had given its own applications unfair advantages in Android products, removing any lingering hope the company retained of overturning the penalty after years of legal challenges.
One notable new corporate development added another element to the session’s AI narrative. Reports indicated that OpenAI had opened discussions about selling a 5% stake to the U.S. government, a development that circulated through technology trading desks during the session without producing a decisive directional move for AI-adjacent stocks but adding to the sense of an AI trade in active reassessment rather than straightforward continued accumulation.
Ed Yardeni, the president of market advisory firm Yardeni Research and former chief investment strategist, said he expects the stock market to continue its rise over the second half of this year, forecasting a further 9% gain in the S&P 500.
With markets now closed until Monday, investors have the long weekend to assess the accumulated signals of an abbreviated first week of July: a Dow at a fresh all-time record, a Nasdaq in a two-day decline, a jobs market that may be softening faster than many expected just a month ago, and an Apple foldable iPhone narrative that has given one corner of the technology sector a reason to rally even as semiconductors cool.
Business
SL Science Holding Shares Surge 35% on Nasdaq Debut After SPAC Merger as Biotech Investor Interest Builds
SL Science Holding Limited shares soared more than 34% to close at $5.99 Thursday following its recent listing on the Nasdaq Global Market through a business combination with a special purpose acquisition company, highlighting strong investor appetite for innovative cell therapy platforms in the competitive biotechnology sector.
The Taiwan-headquartered company, formerly known as SL BIO Ltd., completed its merger with Horizon Space Acquisition II Corp. and began trading under the ticker SLBT on June 15. The transaction valued the combined entity at approximately $5.6 billion, providing substantial capital to advance its pipeline of gamma delta T cell therapies targeting solid tumors.
SL Science focuses on developing off-the-shelf cellular and gene therapies, with particular emphasis on gamma delta T cells for treating challenging cancers such as pancreatic and brain tumors. The approach aims to overcome limitations of traditional autologous cell therapies, including scalability, cost and manufacturing consistency.
The company’s platform also includes research into armed T-cells and exosome-based products derived from plant and milk sources for regenerative medicine applications. These diversified efforts position SL Science at the intersection of immuno-oncology and regenerative therapies.
SPAC Merger and Nasdaq Transition
The business combination with Horizon Space Acquisition II provided SL Science with access to public markets and additional funding through a PIPE investment. The listing marks a significant milestone for the preclinical-stage biotechnology firm seeking to accelerate clinical development.
Proceeds from the transaction will support research and development activities, manufacturing scale-up and potential strategic acquisitions. Management has outlined plans to advance lead candidates toward investigational new drug applications and early-stage clinical trials.
Biotechnology companies often pursue public listings via SPACs to expedite capital raising amid volatile traditional IPO markets. SL Science’s debut reflects continued investor interest in innovative cell and gene therapy platforms despite sector-wide challenges.
Pipeline and Scientific Approach
SL Science’s gamma delta T cell technology leverages a unique subset of immune cells with potential advantages in targeting solid tumors. Unlike conventional CAR-T therapies that have shown limited efficacy against solid cancers, gamma delta approaches may offer better tumor infiltration and reduced toxicity.
The company is also exploring exosome therapies using milk-derived and plant-based sources for applications in skin care, wound healing and broader regenerative medicine. These products complement the oncology focus while generating potential near-term revenue through cosmetic and wellness channels.
Preclinical data has demonstrated promising results in various models, though clinical validation remains essential for regulatory approval and commercial success. The firm aims to establish standardized manufacturing processes to enable scalable production.
Market Context and Challenges
The cell therapy sector has experienced rapid growth but faces hurdles including high development costs, manufacturing complexities and reimbursement uncertainties. SL Science’s off-the-shelf approach seeks to address some of these challenges compared to personalized therapies.
Competition in immuno-oncology is intense, with major pharmaceutical companies and specialized biotech firms pursuing similar targets. Differentiation through proprietary technologies and combination approaches will be critical for market positioning.
Regulatory pathways for cell and gene therapies have become more defined in major markets, though requirements for safety and efficacy data remain stringent. SL Science will need to navigate clinical trial requirements and manufacturing standards carefully.
Investor enthusiasm for biotechnology stocks fluctuates with broader market sentiment and clinical data readouts. SL Science’s post-listing volatility reflects typical patterns for newly public development-stage companies.
Financial Position and Strategy
As a preclinical company, SL Science currently generates limited revenue primarily from research services and early cosmetic products. The SPAC merger and associated financing provide runway for advancing its pipeline through key milestones.
Management has emphasized disciplined capital allocation focused on high-potential programs while exploring partnerships to accelerate development. Strategic acquisitions or licensing deals could expand the technology platform.
The company’s leadership team includes executives with experience in biotechnology and public company operations. Recent appointments have strengthened capabilities in clinical development and regulatory affairs.
Long-term success will depend on clinical trial outcomes, regulatory approvals and commercialization strategies. The biotechnology sector rewards companies that deliver transformative therapies while managing development risks effectively.
SL Science’s Nasdaq listing provides visibility and access to capital markets that can support ambitious research programs. As the company progresses its pipeline, upcoming clinical data and regulatory interactions will be closely watched by investors and industry observers.
The debut performance underscores market appetite for novel cell therapy platforms amid growing interest in immuno-oncology and regenerative medicine. SL Science joins a cohort of companies aiming to address significant unmet medical needs through innovative approaches.
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