Digital Banking Solution

For a UK-based digital asset execution company, DeepInspire built a digital banking solution that enables other services to manage crypto & fiat wallets and trade within them.

About client

The client is a UK-based digital asset execution company providing OTC trade negotiation and execution service. The service allows institutional traders to execute large block cryptocurrency trades through a safe and secure platform with transparent prices.

The client offers various services, including:

institutional grade KYC/KYB;
direct access to unrivalled cryptocurrency market liquidity with complete privacy;
API integrations that allow functionality to be integrated to counterpart platforms or institutional partners;
token issuance and sale proceeds conversion.

Challenges

The client needed a partner with extensive custom software development & fintech expertise to help them develop a digital banking solution that enables other services to manage crypto and fiat wallets, and trade within them using the RESTful API. The main challenges within the project were:

Design product that can handle a complex business flow with various use cases;
Keep the balance between complex functionality and clean, easy to understand API protocol;
Design product with supporting documentation that can be easily integrated by other businesses;
Answer tons of questions, make test runs and refine requirements and product design in tight collaboration with the client;
Combine in one solution advantages of alternative products and transform disadvantages into client’s benefits;

Team composition:

In general, 7 specialists are involved in the project (the project is currently ongoing).

Solution Architect
QA Automation Engineer
DevOps Engineer
.Net Developers
Project Manager / Analyst
Project Manager Assistant

What we covered

01 Set up product infrastructure in AWS;
02 Design and development of product deployment;
03 Design and development of project development flow using BitBucket, Jira and Jenkins;
04 Requirements refinement;
05 Designing API specifications;

06 Back-end development in .Net Core;
07 Design and development of automated Quality Assurance using Postman;
08 Development of Product & Project Documentation incl. detailed user manuals;
09 Release management and support operations for production environment.

Deliverables

We designed and developed a Digital Banking Solution with the full support of ledgers in fiat and crypto.

The system provides the ability for API consumers to open and manage their ledger accounts both in crypto and fiat;
The system provides the ability for end-users to trade crypto to fiat, and crypto to crypto, with getting price and information on resulting balances beforehand;
The engine manages its own domain transactions;
Introduced transactions compliance flow and automated compliance module to simplify manual workflows;
Introduced notifications system to prevent any fail cases and ensure system stability;
The system architecture makes it liquidity provider agnostic;
The system fulfils the treasury function under the hood;
Fees and brokerage fees;