KYC service on monitors

KYCFinSoft

This KYC (Know Your Customer) platform is developed to speed up and simplify the process of checking people’s financial history for financial institutions and banking systems within the European Union.

  • Industry - Fintech
  • Services - Web Development / IT Consulting / Quality Assurance
  • Main Technologies - Angular / Python

x4 Acceleration

of decision-making on crediting.

1 Unique Form

to fit the needs of each client.

KYC SaaS for Financial Institutions

This full-cycle project was the result of our client’s goal – to create a convenient and stable-working SaaS platform that would classify and validate clients of different banking systems. This KYC service is aimed at simplifying and bolstering the decision-making on crediting and other financial or administrative processes. Since our team was responsible for developing both front-end and back-end parts of the system, we created a fully-functional ML-based SaaS product and integrated vital functionalities described below.

Introduction to the Problem

Our client needed a complex but easy-to-use banking SaaS platform that would validate an administrative and credit history of each potential or existing client using Machine Learning. This validation is an important part of many financial and banking institutions because it gives the understanding of whether a person can be trusted with lending them significant sums of money. While working on this project, we created a dynamic form that can be individually adjusted for each client and placement. In addition, we developed a number of equally important functionalities such as optical character recognition, integration of Fast2Finance platform with their clients’ databases, receiving and sending documents for refinement, multi-step verification, etc.

Challenges & Solutions

Front-end from Scratch

When we started working on this project, it was already in the form of a minimum viable product created by the previous team. However, necessary changes in design and on the server side of the platform required dramatic changes on the front-end side as well. Since it was both efficient in terms of finance and time to develop the system’s server and client sides from scratch instead of making changes on the old ones, we proposed this scenario to the client. We were offered to use the ngx-formly module to fasten the development process because of the project’s strict time limits. However, it took our specialists about 20 minutes to see that this library doesn’t have even the half of required solutions for creating the main dynamic form functionality, so we developed the whole thing from the ground up.

Lack of Time and Information

Utter urgency and lack of information from the client were challenging for us because these two aspects affect any project, especially when you need to provide a full-cycle solution from scratch. Despite the fact that strict time limits often have a negative impact on the project and the product, we delivered all back-end and front-end tasks on time and not at the expense of quality. Having the initial information on the future product in full is also highly important because it guarantees the quality of product architecture, user stories, and others. After the client trusted us with the information necessary for further design, development and adjustment, we were able to create the Fintech SaaS platform that fully corresponds it business goals.

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And, as a result…

The client received a SaaS system with a dynamic form that can be adjusted to different user identities such as KYC owner, investor, sales manager, etc. Besides, we developed functionalities that track inconsistencies and missing information, and identify newly changed and/or added information. To fulfill the client’s business intelligence needs, we developed convenient data visualization in the form of charts, graphs, diagrams, etc.

Team & Time

  • 1 PM
  • 1 QA
  • 3 DEVs
  • 1 Year

Technologies

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