Fido Solutions Inc., a leading fintech startup, hit a point where their existing IT infrastructure couldn't keep up with the company’s rapid growth and global expansion. As they got more and more new customers, Fido needed to upgrade from legacy systems to a more powerful and scalable solution.

Client

Founded in Ghana in 2013 and headquartered in Tel Aviv, Israel, Fido Solutions specializes in providing fast and convenient short-term loans through their flagship product, Fido Money Lending. The mission of the company is to improve financial services in developing markets, helping business owners grow efficiently, transparently, and reliably.

Fido Solutions aimed to boost customer satisfaction and streamline the loan process by developing a modern mobile application. They chose Intersog as their technology partner to design and implement a solution that could support Fido’s growing needs.

Product

Intersog developed the Fido Money Lending app, a user-friendly loan application for Android and iOS devices. The app's features include:

• Straightforward Loan Request Form: Making it easy for users to apply for loans.
• Customer History Tracking and Analysis: Provides valuable insights into customer behavior and loan history.
• Built-in Interest Rate Calculator: Offers clear information on loan costs.
• User-Friendly Payback Interface: Simplifies the repayment process.
• Optical Character Recognition (OCR): Streamlines data entry and verification.
• Predictive Analytics: Helps forecast loan risk scores.
• Real-Time Fraud Monitoring: Uses machine learning to detect and prevent fraud.

Challenge

Fido’s old system couldn’t handle the increasing data from their expanding user base. They also needed a fresh UX and UI design to enhance the user experience. The potential to cut project costs by up to 40% with Intersog’s offshore and on-site developers was another important factor in the consideration process.

Solution

Intersog crafted a comprehensive solution packed with advanced features:

• Machine Learning Integration: Quickly predicts loan approval probabilities.
• Built-in Fee and Interest Rate Calculators: Ensures transparent transactions.
• Seamless UX/UI Design: Enhances the user experience for loan applications and repayments.
• Request Confirmation and Redirection: Streamlines processing with Fido's servers.
• Optical Character Recognition (OCR): Improves data accuracy and efficiency.
• Predictive Analytics: Provides real-time risk scoring.
• Real-Time Fraud Monitoring: Protects against fraud using advanced machine learning models for profiling.

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.

Key highlights:

• Improved Loan Repayment Rates: 40% more users repay their loans on time, boosting revenue.
• Enhanced Security: Real-time fraud monitoring has reduced fraud incidents and increased customer trust.
• Significant Revenue Growth: The app’s enhanced features have substantially increased the company’s revenue.

Intersog's partnership with Fido Solutions has been a game-changer, ensuring Fido is ready for further growth and market expansion. The success of the Fido Money Lending app shows how crucial it is to have a reliable and user-friendly mobile application in today’s digital world. As Fido continues to grow, Intersog remains a loyal partner, committed to supporting the company’s future technological needs.

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