SaaS web platform for financial analysis of personal funds
Background
MyFinance is a FinTech StartUp from Frankfurt, located in close vicinity of the financial metropolis. This company was created with a simple vision of guiding and helping people in wealth accumulation.
Due to compatibility with all common platforms and media, MyFinance provides users with a complete overview of their finances. Regardless of whether it is stock portfolios, real estate, cryptocurrencies or a simple bank account data, everything is safely consolidated in one place.
What we had to do
- Conduct an audit of an existing site and business analysis of partners
- To analyze the data transfer process from the FinAPI service
- Add 2FA functionality in order to protect all user data from leakage
- Implement a design solution for displaying data in the form of real charts and graphs
- To develop a unique logic for assessing the income and expenses of funds for several decades to come
The main task was to test the FinAPI service functionality to see what requests we can send and what we can receive.
The challenge was in the design, to completely change the approach and UX/UI vision, in page optimization and dashboard design. Because it was the main focus of the service and the reason to use it. Everything should be intuitive, so everybody could understand what to do and expect without additional instructions.
The 'Future plan' — was the initial and main task as well. It is the core of the whole project, the reason it was started. It was necessary to understand a large number of formulas, and how to correctly transfer them to the site code. Because these calculations and several additional data sources would be the basis of future users’ income and expenses charts. Investments, debts and other financial transactions before retirement and after it — everything would be generated taking into account that data.
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Screens
What was done
After discussing the project with the client and determining the main objectives of the project we created a technical task and a development process timetable.
While working on the main features for FinAPI data parsing we found out that the service has released updated and the data transfer logic has been changed. It was decided to optimize existing queries using the Cron program to increase the number of requests and display data in users’ dashboards/accounts.
We had to contact FinAPI tech support to discuss plans of the service so that we could take into account their future changes/improvements that might affect our project.
- Future plan - we studied all formulas and draw up a roadmap of how they work
- Developed features for calculating future income and expenses by the conditional date that the user wishes to live
- Working out additional requirements to the project, improvement of the current operating logic
- Security system and backups
- Internal load testing procedures
Results
The project was developed in two parts — the user part and personal dashboard/account. An admin panel has been developed for content management. The user part is available to anyone with access to the Internet.
Registered users have the opportunity to go to the admin panel, connect to FinAPI, pull up all the necessary bank cards, see comparative statistics on them, and can manage all the data received. All balances and reports are grouped in charts to visualize data on each card.
Also, using data on personal funds future income and expenditure, every platform user can generate a chart with an estimated balance of what he can accumulate before retirement and after it.