Fintech Payment MVP
Rapid validation for niche payment market
Expertise
The FinTech industry is a continuously evolving ecosystem that is in dire need of smaller more agile companies that are willing to step in and create smarter and faster solutions. Our client is such a company, being at the forefront of the fintech payment landscape. Since 2018 they have been a vital part in transforming legacy payment platforms onto new technologies, while also being a visionary partner in the banking sector and many more industries. The company is increasingly taking its place on the fintech global stage and is here to revolutionize the industry.
Analyze
The initial stage of the project was concentrated on the architectural part of the future software. Since this is a greenfield project, it was important for both customer and team to reach the best possible solution taking into consideration the very complex fintech market and specific niche business. The main goal of the project was to provide a unique scalable solution that will fit business needs. Since this is an MVP project the main objective is to also validate the idea and set the premises for a successful launch.
Ideate
Once we had a clear understanding of what we were about to build we started adding back-end developers and front-end devs, and began building the backbone of the software using a mix of methodologies specifically adapted for the project’s needs. At this stage, we began understanding more about the functionalities desired and how to integrate them with big data analysis.
Test
Since the beginning, the client gave out team ownership over the architectural and development processes. Having “carte blanche” is a great opportunity but also a great responsibility because since this was an MVP we had to create the best environment and deliver outstanding software that will delight the potential buyers and investors.
Idea to solve
Our partnership with the client was cemented on the basis of our fintech know-how and also expertise in the latest tech stacks versions such as Angular, Java, SpringBoot etc. Our team is currently bringing expertise among others in:
- Front end: Angular 12.
- Back end: Java11, Spring Boot, Hibernate.
- Infrastructure: Kubernetes.
Problem statement
Our customer was looking since the beginning for an engineering partner that will help them with innovative software solutions for his fintech MVP launch. The product complexity was generated by its B2B nature and also the niche market it approached. In order to provide the best solution, we needed to make sure that the software would be scalable and would support a high volume of data processing and requests from customers.
Outcome
Innovative software, a great team mix, and expertise were the key ingredients in bringing the customer’s vision to life. Since we started our collaboration our team had a 300% growth rate. We successfully launched the MVP and the client received amazing feedback from the market, thus propelling us into the next phase of development. There is much to be done here of course but we truly believe that a strong collaboration was formed. We believe that the freedom to innovate and full trust, granted by both the client and the engineering company, will determine our long-term success.
