Fintech company? Mobile app is a must!
Who could have foreseen the transformative impact a concept introduced by Apple in 2007 would have on our society today? The future of yesterday is now a dominant force in our present. Each year, the smartphone industry and its products expand and rapidly evolve in computing capabilities. We now hold powerful computers in our hands, and the fact that smartphones dominate our consumption of information and communication is a testament to their incredible evolution.
With the advent of smartphones, a wave of store apps inundated the market. Digital platforms like the Apple Store and Google Play now offer users myriad free, paid, and freemium apps, enriching our lives with convenience and entertainment. This rapid evolution of technology has changed how we live and how businesses operate, with many quickly realizing the importance of integrating mobile phone usage into their strategies.
In the fintech domain, mobile apps are not just a luxury but a business imperative. They are expected to excel in various areas, from basic payment functionalities to security, optimization, and personalization. The ability to access funds, bills, and cards on the go, bypassing queues and waiting times, with data updated in real-time, is not just a convenience but a necessity for fintech companies, reinforcing the importance of integrating mobile app usage into business strategies.
NO APP? IT'S A BUSINESS TRAP!
Not having a mobile app can mean missing out on crucial opportunities and putting your business at a competitive disadvantage. That's why the digital payments company we collaborate with partnered with Klika. This company is a global leader in corporate-funded payments, offering real-time virtual and physical disbursements across 160+ countries in 17 languages. Specializing in prepaid services for incentive and reward programs, they have served a diverse range of corporate clients and their audiences for 20+ years.
They approached us with the idea of expanding the availability of their services with a new mobile app. The client company demonstrated strategic thinking, prioritizing time and cost-cutting. They had to think strategically to avoid the significant costs and time delays associated with building an internal team, and their foresight proved commendable.
Klika's approach was rooted in Agile and Lean Startup principles, mainly because the core product wasn't built with a mobile app in mind. Step number one was to name a Product Owner (PO) appointed from the outset to define requirements, negotiate priorities, and serve as the main point of contact with the client.
A clearly defined Project Charter was used to set the scope, priorities, and deadlines that are crucial for maintaining transparency and monitoring progress. We used the Scrum framework with one-week sprints to sustain momentum, enabling rapid feedback and continuous improvement.
KEEPIN' IT FLASHY AND RUNNING FLAWLESSLY
The project was divided into three key threads. First, UI/UX design was prioritized to ensure that designs were ready and approved before development began. An excellent mobile app design surpasses baseline payment functionality and improves user experience through intuitive design, seamless navigation, and personal features. App user interface (UI) and user experience (UX) design are pivotal to ensuring ease of navigation for users across an application platform, enabling them to complete transactions effectively and find the service they are looking for without hassle. Of course, we paid extra attention to aligning with the client's branding to share the same look and feel as the rest of the customer-facing applications.
Second, an API specification was created to bridge the gap between the mobile app and the existing systems. A mock API was developed to facilitate the MVP, sidestepping the need for a complete system overhaul.
In the third phase, development focused on building native Android and iOS applications using Appcircle for continuous integration and delivery.
TESTING, TESTING…
Preparing data for the testing processes is a challenge in almost all fintech projects. Even before we went down the QA Automation road, manual testing was a challenge. The Klika team had to develop a high level of domain knowledge to understand the core banking transactions and implement an assistant tool to generate the necessary data for testing. A deeper understanding of the core banking system required a reverse-engineering process to analyze the existing system and implement a data generator to properly mock the data.
A dedicated Quality Assurance expert ensured the highest standards were met throughout the project, with automated testing integrated into the development pipeline. This meticulous approach resulted in a mobile app that aligned with the client's branding and inspired enhancements to the company's web applications.
The result wasn't only a win in mobile apps but also a win in how it sparked improvements across several legacy systems. The well-designed API specification facilitated the project and laid the groundwork for future system upgrades. Within three months, the client had a fully onboarded, low-risk team of experts who gained valuable insights into the client's products and set up a robust mobile development environment with automated testing and continuous integration. The efficient and agile approach of the Klika team also inspired the client to streamline processes across their organization.
