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FinTech startup that solves problems surrounding complex payments in businesses

FINTECH
MVP Development
Project Management
Agile Development
QA
Elixir

The Client

The Client approached with the desire to build a FinTech startup that solves problems surrounding complex payments in businesses. They had a go-to-market strategy, the problem was defined, leaving them with the need for a partner, who could take responsibility from the technical side—the perfect mission for our team.

Challenges & Solutions

Fast, but not rushed.

Agile development has been our bread and butter for a long time. The methodology allows us to move fast and validate things, which is perfect for startups that need to experiment and iterate quickly. The first problem we addressed was the provision of a service that could generate Virtual Cards on demand. We started with a team of two people, who were investigating 3rd party services documentation. We moved quickly to create a proof of concept to see if the flow we wanted to create was feasible. No coding yet, just scripting and validating what was needed. Having that knowledge, we were ready to iterate over the mockups. Once we finished defining the flow, we started parallel work on the final design and the architecture for the system.

Acting as a CTO

As a CTO for Finley, we took on the responsibility of building their technical platform from scratch. This included everything, starting with working with the client and defining their products, through architecting and implementing the code, ending with deploying the finished product. Our team was able to move quickly and efficiently, which was crucial in getting Finley off the ground. As their technical partner, we were the main point of contact for the Providers, allowing the Client and Product Owner to focus on the final shape of the product.

Rapid MVP development

We are passionate about fast development and clean code, so we were excited to take on this project. The domain was strictly related to banking, so we knew that the solutions we created had to be of the highest quality and security. After 3 months of hard work, we were ready to onboard the first client and test our solution in the real world. We are proud to say that it was a success! The fast development and quality of our code was put to the test and passed with flying colours. We are looking forward to continuing to provide our clients with fast, secure, and high-quality solutions.

Agile approach for the team size and competences

Even though we started with a web platform, we knew from the very beginning that our target group would also use a mobile application. In the early stages, the priority was to validate the idea and make sure that we could actually bring business value to our users. Once we did that, we expanded our team and brought on our mobile specialist. We presented the pros and cons of native and hybrid technology to the client, and ultimately decided on a scalable solution that would meet their needs. By keeping our team small and focused in the beginning, with our Agile approach, we were able to efficiently progress towards our goals.

The system was built to connect with multiple card providers

A challenge we addressed was to make sure that our Service was scalable and able to connect with multiple financial institutions. We aimed at building a comprehensive solution that offered different products. That means that under the hood, we were building a complicated system. To make sure the Service was scalable, we had to design it in a way that forecast outages on 3rd party services. Some of the services were unacceptably slow, hence, we built another layer that allowed the user to access the data with minimal wait time. In the end, we were able to create a scalable solution that met our needs and is ready to iterate upon quickly.

Security and control over funds

Security and transparency are important for any Fintech, Finley being no exception. We knew that the control of the funds was important for the users, having that in mind, we built a solution that gave administrators and organization owners a possibility to see not only the money flow but also all actions performed by organization members. This way they could be sure that the standards were met and the funds were used as intended. In case of any anomalies, they could take appropriate measures. We are proud to say that our solution helps to create a safe and transparent environment for users.

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