An Operating System Facilitating Financial Decisions
Living in a financial landscape where most of the American population is under debt or is struggling to manage finances, a personal finance management software is a blessing in disguise. The client wanted an operating system that could help masses in making right decisions about their finances.
The goal was to develop a financial brain as a software, making it intelligent enough to guide the users in regulating their expenses without incurring huge debts. There was a list of objectives to be fulfilled by this product.
The list included:
- Organizing money into Bills, Savings Goals and Spending
- Tracking and reserving money for bills
- Tracking and reserving money for investment fund goals
- Letting people spend the remainder of their monthly income on credit
- Letting people spend from investment funds, whenever need be
- Locking the card if there is an attempt to spend more than that
- Consistently autopays your credit billx
The Developmental Journey of a Product Propelled by Financial Intelligence
After having multiple meetings with the client, our team members were able to present a detailed outline on the product to be developed. Soon after the approval, our team started working on it.
The product was expected to have a scalable architecture, so, we used Node JS for its backend development and React for frontend as we aimed at providing the end users with a smooth experience while navigating through the app.
We constructed a Plaid powered framework by integrating the same and used Mongo DB for data base management. In order for the end users to receive alerts on their spent and remaining credits etc., our engineers employed Rabbit MQ.
The app needed sensitive information to give most useful advice to it’s users, this is where data security came into focus. To ensure the safety of the sensitive data, we used Very Good Security, which made it possible for us to be PCI and SOC2 compliant.
Once all of this was done, the app was ready for the users to signup, feed their goals in and link it with their credit cards. The software was intelligent enough to understand the spend pattern and give suggestions accordingly to different individuals, which is why the company also got into Techstars, a global platform for investment and innovation. We are indeed proud to have been the techpartners to such remarkable entrepreneurs.
