Money Exchange Application

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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:
  1. Money exchange service with peers (funds transfer)
  2. Foreign currency conversion
  3. Custom FX rates for Money Remitters
  4. Cash withdrawals from Money Remitters
  5. Chat message service to contact money exchange peers
  6. Multi-Currency M-Wallet
  7. Dashboard for analytics purpose to track the money remittance business
  8. Standard security implementations to secure all the In and Out transactions