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Transforming Personal Finance with an Intelligent Mobile App
A Techstar company based in Seattle wanted to create a credit card system in a way that benefits customers and changes the game for the finance world. They asked us to create a mobile app that acts as a financial tool for people and makes it easier to manage their money.The client wanted an operating system that could help the masses in making the right decisions about their finances. The goal was to develop a financial brain as software, making it intelligent enough to guide the users in regulating their expenses without incurring huge debts. Our team built the platform from scratch. We created the backend system that powers the mobile app.
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 bill.
The product was expected to have a scalable architecture, so, we used Node JS for its backend development and React for the front end 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 database management. In order for the end users to receive alerts on their spending and remaining credits etc., our engineers employed Rabbit MQ.
The app needed sensitive information to give the most useful advice to its 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.
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