The app allows students to claim special deals from merchants and use the cash back from their spendings to pay their student loans. It also lets users transfer the cash back money to other fellow students to help them later in reaching their financial goals.
A FinTech startup got in touch with us with an idea of creating an app that would allow students who often owe tens of thousands of dollars to pay off their loans faster by aggregating cash back money from merchant deals and transferring it into their personal student loan accounts. Later on, our team and the client made a decision that the system should be further extended by introducing new services such as sending money to other app users and transferring it to their savings accounts.
In order to start using the respective services, a user would need to download the app, sign in with their bank account, review and claim available special deals, use a credit card directly at the checkout and receive the cash back. All the other operations will be performed by the app.
The work was organized using the Agile development model and the Scrum framework. We have split the development into bi-weekly sprints with new features and product demos coming at the end of each stage. The client communicated with the team via Slack and Skype. We also used Git as a code repository.
The MVP version of the application was implemented in 6 months time frame from initial design mockups to publication in the Apple App Store and Google Play.