A new solution to exchange money on the go, whilst travelling or at home, essentially minimising fees other providers charge.
1. Discussion
2. Requirement
3. Development
1. Challenge
Our main challenge involved complying with and understanding financial policies, rules and regulations with various local laws, in Germany, China and Singapore (launch countries). Additionally, the spoken language in each market differed, considering users from different geographic regions, the system had to be localized in such a way that any user can use the system in English or regional language.
2. Our Solution
We developed a localized (to solve the language barrier) web portal, as well as an iOS and Android mobile App. Considering financial transactions occurred we ensured we complied with OWASP standards and provided different user roles and accesses. Users were able to contact Money Remitters (Agents) and exchange cash at an attractive market rate.
3. Results
The final product showcased the following features:
Money exchange service with peers (funds transfer)
Foreign currency conversion
Custom FX rates for Money Remitters
Cash withdrawals from Money Remitters
Chat message service to contact money exchange peers
Multi-Currency M-Wallet
Dashboard for analytics purpose to track the money remittance business
Standard security implementations to secure all the In and Out transactions