Case Study: How to build an investment platform
10 months ago
Financial technologies are changing the traditional financial services industry and the way people are banking, investing and doing business. The rapid growth of technologies makes the industry look for new ways to combine the cutting edge innovations with traditional behaviours.
Fintech is a powerful space that is driving the financial world and has great opportunities. By researching forward trends, there can be a great success in the industry that leads to increasing the productivity, involving more customers, and renovating the financial regulations.
Client and Requirements
Our client is a giant in the financial industry with 20+ years of experience in microfinance, commercial finance, business training. After years of working in a financial segment, there is an idea to build a high-quality software solution as a good way to streamline business and increase revenue.
The concept is to create a peer-to-peer (P2P) community with many business-to-business (B2B) services applying cryptocurrency and block-chain technologies, analytic and advertising digital solutions.
Extensive and thorough research, careful analysis enabled us to make correct and informed decisions regarding our development strategy. Armed with the facts, we managed to create efficient and highly-secured investment platform.
The Project Challenges
- Our team managed to develop a successful website and two mobile applications by using cutting-edge digital technologies in a quick turnaround time.
- A complex project logic with a wide range of conditional branches and loops, a great number of integrated services have made the development process more time-consuming and effortful.
- The client was very particular about the UI/UX, so our designers provided a user-friendly and intuitive design that led to more positive and personalized user experience.
- The client wanted a highly secure system, so our team of software developers implemented hi-tech solutions to keep it protected.
- It was agreed to build a website and two mobile applications for iOS and Android platforms.
- Created extensive notification system allowed to unify the notification delivery.
- The following technologies and tools were applied while development: PHP5, Symfony, React Native, Doctrine2, MySQL, Headless LibreOffice, npm, nodeJS, RabbitMQ, Twilio API, box API, GreenID API, MailChimp API, mandrill API, Harmony Hosted - Address Validation API, RESTful API, OAuth2; additional resources - Atlassian bamboo, AWS, Vagrant+ansible.
- Scrum methodology was used while developing an investment platform. It helped focus on the client engagement, flexible planning, ongoing estimation, risk mitigation in order to complete the project effectively.
The Major Features
Data Security Encryption Algorithm
Cyber attacks are increasingly rising, so the software system should be equipped with the new schemes to deter hackers and keep them at bay. Our software developers used an encryption algorithm to make sensitive data more secure and less intercepted. How it works is provided below:
1. User sends a request to the web server. A direct access to the database is forbidden.
2. The request is sent to the authentication server to be validated.
3. Authentication server provides an access token that can be expired after a short period.
4. Web-server verifies an access token and responds with decrypted data.
Efficient and Security with OAuth2
The authorization framework was used in order the sharing information between mobile apps and a website is safe and secure. It made the life easier for users who can be less likely get intercepted or compromised.
OAuth 2 provides authorization flows for web and desktop applications, and mobile devices. Authentication verifies the identity of the user who interacts, authorization allows third-party applications to access the information via an API and a one-time code that grants access and security between the two.
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Personally created out-of-the-box solution
Our team of software developers has created a great out-of-the-box solution to inform rapidly about system troubles. The most vital and pain points are covered with the custom solution that helps to monitor system status and report on troubles at the code level or operating system environment.
Headless File Conversion Using LibreOffice
Implemented investment platform includes a lot of data that should be displayed or viewed in a pdf or ppt file. As the pdf files can be displayed within the application and a website incorrectly, our developers had to think of a way out of a difficulty to show the data.
LibreOffice initial programming code was used to convert the data successfully. There are two ways of presenting the information:
1. A pdf file is turned into a png file - it is for mobile applications. An image viewing plugin or a collection of images are used to present information in a website.
2. A ppt(x) file is converted to a pdf file, then a pdf file - to images. The file can be downloaded as a ppt source file or a pdf file.
Understanding why the platform is being built and what problems will be resolved is crucial for project success. Eliciting and analysing client’s requirements helped DDI Development dedicated team implement the digital financial solution - investment platform with the following effect:
Cutting edge technologies and modern tools were used while development in order to deliver a highly secure, user-friendly and successful software solution.