Financial Data Management Platform with Analytics, Reporting and Visualization

Project’s Background

The client is an innovative Fintech company from South Korea, which was the first to be granted a special license from the State Financial Regulator. The license authorizes the company to conduct AI services on behalf of banks. 

The client started with developing and integrating AI applications into the operating systems of the Korean financial institutions. Now they are building a fully-digitized financial ecosystem, connecting Retail Banking and Capital Market, which is based on specialized AI modules for different value chains. The company has a clear product vision, detailed documentation, and a core API developed by in-house software engineers. 

The Korean experts were looking for professional software developers who would build the frontend part of the financial data management platform and connect it with the API in the most seamless and efficient way. 

As a trusted provider of Fintech software development services, Itexus was selected to ensure a comprehensive visualization of massive financial datasets and data-driven insights. Our established software delivery processes, relevant experience in financial product development, and positive customer references convinced our client to partner with us.

Functionality Overview

Our team has delivered the frontend part of a custom financial data management platform that pulls large amounts of financial information from the customer’s database and visualizes it comprehensively. The visualized data becomes available for end users, i.e. banks and financial institutions, via a paid subscription.

The most challenging point was to find a technical solution that would enable fast and seamless data transfer from the client’s API, which generates data in the JSON interchange format, to the interface where the collected data would be comprehensively visualized in multiple forms, diagrams, and charts. 

As direct communication between the frontend and the API would hinder the system’s real-time updates and user experience, our engineers suggested adding backend functionality to the system.

The backend communicates with the client’s API, sends requests to the server and receives data from the client’s system. On top of that, the solution features a PostgreSQL-based database which stores pre-aggregated data. The system’s backend structures, validates and filters the collected data, before transferring it to the frontend. As a result, no time-consuming data migrations interfere with the database performance and user workflow.

For the frontend part of the solution, we used a combination of the React framework and the Redux library, while the backend part is built on the Django REST framework.

Results & Future Plans

With the Itexus’ team, the client managed to deliver a custom easy-to-use AI-driven financial data management platform suited for the needs of banks and other organizations. The solution enables end users to quickly receive the requested data about their clients.

Currently, work is underway to implement functionality enhancements and new UI elements.