Loan Lending Mobile Application Development for Fintech Company

Like many fast-growing fintech startups out there, Fido Solutions Inc. has reached a point where it surpassed the capabilities of its IT infrastructure. To account for the increasing number of clients and its global expansion, Fido needed to make a leap from the legacy system to the new one that would be capable of handling the company’s growing needs.

This case study describes how Intersog developed a mobile lending app for Fido clients to ultimately increase customer satisfaction and make the whole process of loan lending much more convenient and transparent.

Client

Fido Solutions is a consumer lender founded in Ghana back in 2013 and headquartered in Tel Aviv, Israel, providing fast and convenient short-term loans called Fido Money Lending. Fido’s main goal is to improve the financial services in developing markets and help business owners grow in an efficient, transparent, and reliable way.

Product

Fido Money Lending is an instant loan app developed in partnership with Intersog that allows users to get money fast straight from their Android and iOS devices.

Key features:

• Straightforward loan request form
• Customer history tracking and analysis
• Build-in interest rate calculator
• Comfortable payback interface

Challenge

Fido’s rapid growth has made the old legacy system obsolete as it could not keep up with the amount of data that was coming from various sources. The app also needed a proper UX and UI design.

Eitan Weisbecker, Fido Solutions’s CEO, already had a positive experience with Intersog, which is why he decided to trust us with the task of completely replacing their old system with the new one. The cost-to-quality issue was a pressing one too, so Eitan decided to save up to 40% of the project’s cost by hiring Intersog’s offshore and on-site developers. After a rigorous candidate selection, we were ready to work on and deliver the Fido loans app.

Solution

• Big Data solutions for sign-up and polling feature to collect, analyze, and parse the data entered by the clients.
• Build-in fee calculator and interest rate calculator for transparent deals.
• Request confirmation and redirection to Fido' processing servers.
• Machine learning to collect the data on the users, analyze their history, and predict the probability of loan approval within just a few minutes.
• UX and UI design that makes it easier for the users to enter the amount of money, instantly see the size of payback and get a loan.

Results

Our cooperation with Fido Solutions Inc. has helped the company to increase its client base up to 200,000 users and expand its presence in Israel, Ghana, and the Philippines.

In a world where there's an app for everything, no company can get too far without a convenient and user-friendly application, which is why Fido Solutions made a smart move approaching Intersog for custom mobile app development. The company now has ambitious plans for further growth, and Intersog remains Fido's trusty partner in future endeavors