ROI personal finance app
How we developed a mobile app that helps users earn money
About
Industry: Fintech
Location: Norway
Type of software: Personal Finance App
Scope of work: IT Consulting, Back-end, Front-end, UI/UX Design, Quality Assurance
ROI is a project of our existing client for whom we created another one financial platform – Defero.
Eigil, the Founder of Defero and ROI, is a real guru of financial management. And we’re passionate about technologies. This combo is the winning one.
That’s how we managed to create together such a great app as ROI – software that helps users manage their financial assets and generate passive income, analyse their current economy and precise ways to improve it.
Scroll down to find out the details!
Technologies
Ruby on Rails
React
TypeScript
Node.js
Stripe
Postgres
Functionality
Overview page
Overview page allows User to navigate into 3 sections of the personal balance and fill down items that he possesses to see the report on his possible investment opportunities and to be able to see deeper analysis after purchasing the premium subscription in the app.
Values input for Assets, Liabilities and Budget sections of the info
Premium subscription page with integrated Stripe payment system
Quick analysis page
Over time analysis page
User is able to select parameters by which he wants to see changes over a number of years.
Over time analysis page
A User is able to select parameters by which he or she wants to see changes over a number of years.
Investment Calculator
A User is able to input loan details into fields and after clicking “Calculate” the system displays the result of “Yearly net cashflow from investment” in accordance with the formula.
Challenge
The app has a data analysis feature. It determines the amount of money that users will earn if they take money from sources that do not bring income and make a profitable investment. We successfully created this function, but the draft version of the code took 30 seconds to load. This was too slow, so we used the recursion method.
It made it possible to calculate all the data at the time of initialization of variables or their change and write them to the storage with subsequent use for calculating other forecasts. This way an app got a feature of analytical data forecast for the next 5-10-15-25 years that works as fast and efficiently as possible.
Project Team
Ihor
Project Manager / Business Analyst
Anna
Account Manager
Roman
Lead Developer, System Architect
Valerii
Back-end Developer
Oleksandr
Back-end Developer
Andrii
Front-end Developer
Yaroslav
Front-end Developer
Sergii
QA Engineer
Myroslava
UI / UX Designer
Project Workflow
STAGE 1. Discovery
- We discussed with the client ideas, requirements, and desired competitive advantages;
- Conducted comprehensive work on competitor analysis;
- Created a list of potential functionality based on the client's brief;
- Approved the strategy of creation, development, and implementation of the platform;
- Evaluated the necessary resources and works to be carried out during development;
- Created a development schedule;
- Approved the cost of work;
- Discussed additional legal and business requirements of the customer.
STAGE 2. Design & Prototyping
- We created and approved the strategy of work on the project;
- Presented a detailed plan for the development and further launch of the platform;
- Started working on the prototype and design;
- Formed software requirements specification (SRS) and work breakdown structure (WBS);
- Discussed and approved with the client further product development.
STAGE 3. Development
- Team resources were distributed to match the deadlines and project goals better;
- The team performed a comprehensive work on algorithm writing;
- Held regular meetings with the customer to correct and monitor development progress;
- Made UX/UI designs and corresponding corrections to make the program interface look as the client requested;
- Created front-end and back-end parts of the software;
- Constantly checked the program for compliance with the customer's business logic;
- Conducted integration, system, and acceptance testing of the platform;
- Loaded an app into Play Market and App Store.
Results
We have developed a progressive web application (PWA), with versions for Android and iOS, to meet all the requirements of the Play Market, App Store*, and the FinTech industry in general. The application has implemented the functionality of reporting on possible investment opportunities, as well as a feature to see a deeper analysis after the purchase of premium subscriptions in the application.
The functionality is quite rich. It is possible to see the total amount of expenses that the user has filled in. Users can select the parameters by which they want to see changes over several years with the help of our innovative algorithm. Also, an advertising placement function has been implemented. And of course, the design shows what the spring is like on Jupiter and Mars:)
* this app was created before Apple released a restriction on uploading PWA (Progressive Web Applications) to AppStore. Meanwhile,PWA remains to be a solution for Web and Android platforms.