Mobile banking solution for SME

Customer
Home Credit Bank JSC
Project manager on the customer side
Dmitriy Odintsov
CIO
IT Provider
red_mad_robot Central Asia
Year of project completion
2023
Project timeline
November, 2022 - August, 2023
Project scope
68000 man-hours
Goals
Development of mobile app for small and medium enterprises in alignment with the client’s strategy to target and work with the new segment of potential clients.
Project Results

Overall after 6 months of development, we had a working and tested mobile application with following functionality:

  • Daily banking with full online registration and account opening.

  • Easy to use basic financial operations.

  • International banking with transfers in currency and currency exchange

  • Merchants account

  • Online accounting

7 000 + new accounts opened through the mobile app.

The uniqueness of the project

Main uniqueness is that the mobile app is built as a first step of setting up a new stream for SME. Where other banks start their business in brick-and-mortar style with many offline offices and setting up all the processes and only then build digital channels. We took the mobile-first approach. Which on the one hand was a great challenge because all the processes had to be set up, and implemented in parallel with the development of the app. But on the other, it gave us the advantage of creating needed processes exactly how we needed them right from the start. Which was easier than changing banks' legacy processes. Not only have a fully digital working channel for our clients but also simple and scalable processes at tht back office.
Used software

A solution was developed from scratch as a platform to be extended and reused in different digital channels (web, API’s for third parties). Backend is built with Java and Springboot and deployed as a set of microservices on a Kubernetes cluster. Database engine - Oracle because of client licensing policy, migrations are build with Liquibase. For asynchronous operations RabbitMq is used. Caching is built with Redis. Object storage is based on Minio. Observability is build with Prometheus, Grafana, Jaeger, Elasticsearch, Splunk.

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Difficulty of implementation
At the moment of the project start our client was a retail bank and had no services for SME. So we worked closely with the bank's IT department to create a roadmap of the services needed and monitored implementation times so we could be sure we were on track for the whole project. Sometimes we switched roles and we provided requirements for a bank to develop a particular service and then accepted the result. Considering that two teams worked on the project at once, it was important to clearly define the boundaries and areas of responsibility in development.
Project Description

Development of mobile app for SME.

Project included: Market analysis, customer development and research, design, development and go-to-market strategy.

Each phase of the project required deep knowledge and expertise in the field.

Together with the client we identified the main needs of our potential users and formulated a product hypothesis. We conducted in-depth interviews with B2C and B2B entrepreneurs from all over Kazakhstan and compiled a portrait of the client with ideas on exactly what they needed and expected from a mobile app for banking.

For the design of the app, the main objective was not to look for a benchmark but to be one. We studied all our main competitors in the market as well as best practices used abroad and came up with our own unique approach which focuses on usability with ease of understanding and use.
The first step for the development was to design a scalable and stable architecture which required simultaneous development and implementation from the bank and our side because all the back office processes were also being set up from scratch.

As for the release of the ready mobile and G2M strategy our first step was to start with friends and family to have our initial test on our first adopters and make sure that all the processes and products work as we intended them to before opening it for all the customers.

Overall after 6 months of development, we had a working and tested mobile application with following functionality:

  • Daily banking with full online registration and account opening.

  • Easy to use basic financial operations.

  • International banking with transfers in currency and currency exchange

  • Merchants account

  • Online accounting

Project geography
Republic of Kazakhstan
The winners of the Project of the Year 2023 competition are IT leaders from India, Malaysia, Turkey, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Iraq and Brazil. 

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