Online Banking Application
The client reached to us with a request to develop an Online Banking application – all-in-one banking and payments service that provides maximum convenience and flexibility and doesn’t require users to interact with a physical bank to open an account. Along with this, it was important to create a secure, trusted platform where users can accumulate and manage any amount of funds. The core of the platform consists of a number of services that allow to carry out various kinds of money transfers.
- Industry Fintech
- Location United Kingdom
- Technolodies React Native, Node.js, AWS
- Cross-platform coverage
- KYC Verification
- Fraud Prevention Service
- Phone number/Email verification
- Push Notification
- Banking Account (IBAN) creation
- Send funds to App clients (via phone number)
- Banking Card
- Phone Contacts Integration
- UK Local Transfer
- Send funds via QR-Code
- Fee System
- Camera access/Image uploading
- Currency Exchange
- Admin Back-office
WE MANAGED TO:
– ensure the safety of the application by implementing KYC Verification and Fraud Prevention systems that aim to identify and verify the user’s identity.
– implement FaceID/TouchID that lets user fast and securely log in to the app;
– integrate services that allow us to generate IBAN and Credit Cards in multiple currencies;
– make a transfer of funds via QR-Code. The user can easily send money to friends by scanning their QR-Code.
– implement various payment methods that allow users to choose the best suitable and profitable way to send funds locally and internationally;
– implement Push Notification, so the users can be informed about funds transfer as soon as it appears.
How It Works:
Apply for a Banking Account. Verify your identity.
Create accounts in different currencies.
Order a physical or virtual Credit Card.
Send money to your Muniy friends by using only their phone numbers.
Make UK Local and international Funds Transfers.
Use your Credit Card to pay in physical/virtual stores.
Send money easily via QR-Code.
To get a Banking Account the users have to pass a multi-step onboarding process:
1. Users pass KYC Verification by uploading a photo of themselves, an ID, and a document that contains the proof of address. KYC checks are done through an independent and reliable source of documents, data, or information.
2. The users are also checked on Fraud in two core fraud prevention databases that are claimed to be the largest in the UK: the National Fraud Database and the Internal Fraud Database.
3. The app might request users to fill in additional information if some results are uncertain.
4. The users are asked to verify the phone number and email.