FIDO Solutions


The Client

Fido Solutions Limited (FIDO) is a financial institution based in Accra, Ghana and licensed by Bank of Ghana. FIDO provides fast and easy short-term loans, called FIDO Loans. Its customers can apply for a FIDO Loan directly from their own mobile device or in FIDO's branch and receive a credit decision within minutes. The loan is available to salaried, contracted and self-employed professionals. No collateral or guarantors are required - just a one-time verification of ID and bank account is necessary before disbursement. FIDO customers can receive their cash within 1 business day.

The Challenge

FIDO was aiming to completely replace their old legacy software system and keep and analyze all of their data that's currently coming in from various sources in one centralized hub.

For this purpose, FIDO's CTO Eitan Weisbeker was looking to set up a software development team from scratch and had concerns about quality versus budget. The dilemma was whether their software development budget was enough to recruit IT specialists and assemble a team in Israel where the company is based or whether they'd better go offshore and save 30% - 40% of their total cost of team.

Eitan already had one project team established at Intersog in Odessa (Ukraine) before, so the choice of a software development provider was obvious to him.

"I was exploring other companies in Ukraine, but eventually came back to Intersog. Yet, with this new project I had a requirement to have my team set up in Kyiv, not Odessa."

Eitan Weisbeker, CTO, FIDO

Kyiv was chosen due to several reasons including flexible direct flights from Israel to Ukraine, a larger IT Talent pool compared to Odessa, faster time to hire.

The Solution

Since quality mattered most to FIDO, they engaged Intersog in a rigorous candidate selection process.

"Intersog started search for candidates to join my project in December 2015 and I got my first hire - Andrey - in March 2016. So, it took us 3 months to rake through hundreds of resumes, interview 25 or 30 people and make a decision to hire Andrey. But as I’ve mentioned above, for us quality was always more important than time, so we were OK to have our time to hire longer than expected."

Eitan Weisbeker, CTO, FIDO

To date, Eitan has a team of 4 specialists to manage:

My current team is comprised of a lead developer (back-end developer), a software developer (web), a mobile developer (Android) and a data engineer / scientist."

Eitan Weisbeker, CTO, FIDO

Big Data Development

The project is comprised of two parts as far as Big Data and analytics:

  1. Data engineering - right now, FIDO has a lot of data coming from different sources and they need to aggregate it in one place. Instead of having 5-6 different databases (e.g., Amazon, SQL, CRM) and various dashboards for, say, admin or managerial purposes, they want to keep all of their data in one place.
  2. Data analysis as part of FIDO's predictive analytics.

Technology stack used for Big Data development:

RedShift, Python, Amazon Web Services (AWS), dynamodb, s3, kafka, and spark ML, Kinesis.

Results As of Today

The product is currently in production. FIDO is planning their next release in a month or two to get rid of the old code used in legacy system and move to a completely new system developed from scratch by the team in Ukraine.

We have thousands of customers using our upgraded system now. We did it in stages: we made the first improvements in February, then Andrey (team lead) joined in March, so we introduced the second improvement in April and since then we’ve been working on a 3rd generation which is a complete overhaul of the system. We’re due to launch our new-generation system in late October or early November this year.

Eitan Weisbeker, CTO, FIDO

For more information about the project and how FIDO manages his offshore team in Ukraine and achieves efficiency, please read our interview with Eitan Weisbeker.