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AI-based Financial Data Management Platform

The platform automates key-decision making process with AI-based predictive modules reflecting the credit cycles.

Industries
Technologies

Project’s Background

The client is an innovative Fintech company from South Korea that was the first to be granted a special license from the State Financial Regulator. They focus on providing AI-based services across the value chain, from new customer acquisition, dynamic credit scoring, underwriting with multi-dimensional models, up/cross-sell marketing to automated risk management and real-time fraud detection, etc. for banks and financial institutions.

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.

Engagement model

Time & Materials

Effort and Duration

Ongoing, since February 2019

Solution

Data Management Platform

Project Team

1 Business Analyst, 1 Backend developer, 2 Frontend developers, 1 Team Lead, 1 PM

Tech Stack

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.

Development Process

Reporting

  • Implemented multiple types of data presentation
  • Recharts library and the React-Vis library

UI/UX

  • Design review and implementation
  • Ant Design templates

Customizable workspace

  • Filter out the information inside data blocks and personalize data visualizations

Architecture Highlights

Reporting

As part of the financial data management platform, our team implemented multiple types of data presentation, including diagrams (for example, personal data, credit rating changes, and other metrics). The components from the Recharts library and the React-Vis library, selected by Itexus’ frontend developers and designers and customized in accordance with the platform’s visual style.

UI/UX

While the customer’s in-house team created the graphic design, Itexus was responsible for the design review and implementation, as well as user experience enhancements. We used the Ant Design templates as the main library for UI components, such as buttons, headers, sidebars, tables, and so on.

Customizable workspace

Once subscribed, end users can filter out the information inside data blocks and personalize data visualizations. For example, they can choose the most important data sets and rearrange data blocks as they like.

Results

As a result, Itexus has delivered a ready-to-use mobile app, with a core set of expense tracker functions and gamification features.

The team is currently working on the second version of this money saving app turning it into a full-scale virtual personal finance assistant, empowered with a tax calculator and bill payment service, investment adviser allowing to automatically create a stock portfolio depending on the client’s investment profile and automatically invest savings via a 401k or IRA brokerage account.

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