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Full-cycle Development for a Financial Wellbeing App

DeepInspire has built a Salary Advance Service from scratch and transformed it into a full-scale Financial Wellbeing Company that provides a wide range of services and helps employees build long-term financial wellbeing.

Full-cycle Development for a Financial Wellbeing App
Technologies:

Azure, C#, Angular, Native mobile (Java, Swift), React Native, Rest API, JS, NodeJS

About the client
The client - Elva - is a UK-based fintech company that started by providing salary advance services to organisations' employees in order to help them make the most of their salaries. The product has grown to a full-scale Financial Wellbeing Company that allows staff at all levels to take control of their finances and build long-term financial wellbeing. Elva provides a range of services through their app, including salary advances, independent financial advice, credit union loans and savings/investments, financial planning and more.
Location:
United Kingdom
Domain:
Fintech, Personal Finance
Content
  • 01Challenges
  • 02What We Covered
  • 03Our Solutions
  • 04Outcomes
  • 05Clients Feedback
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Challenges

The client is aimed to build an ecosystem that would give employees greater control of their money and improve their wellbeing. This ecosystem is supposed to be scalable and adjustable per customers' needs and business particularities (since the variety of businesses that use the services is large). To reach such goals, profound technological capabilities and knowledge were required. The main challenges were:

  • Different work models (that support different salary cycles and payment models)
  • Multiple payrolls support and switching employees between payrolls
  • Data encryption and security, GDPR compliant architecture
  • High-load and processing a large number of incoming transactions
  • Custom third-party integrations
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What we covered:
  • Business Analysis
  • Backend Development
  • Product Management
  • Quality Assurance support
  • UI/UX and Graphic design support
  • Client support
  • Frontend Web and Mobile Development
Our solutions
Based on our experience and deep understanding of the industry, we provided the list of solutions that allowed us to reach main business objectives and kept the system secure and reliable enough in accordance with fintech standards. At the core of the system lies its own banking engine that manages transactions and balances for each employee along with reporting functionalities. The system is banking provider agnostic, meaning that it can connect to almost any bank for sending and receiving payments whilst keeping the treasury function in-house.
Structure
01
Structure
Under this project, we built three main client apps:

Employee app

It allows employees to manage their advances, request financial help, get financial education, analyze their expenses and get other financial benefits. The application is smart enough to suggest configuring benefits per client and displaying them in the priority of use order.

HR app

HR app allows employers to manage employees and provides the ability to manage employee data. The app is easy to use and saves working time for HRs within the company.

Admin app

Back-office (admin app) was created to ensure that all application's constituents are easily managed and supported. The administration panel is a "control centre" and the system's heart.
Azure and Microsoft
02
Azure and Microsoft
The system is based in Azure and heavily integrated with the Microsoft ecosystem (AD b2c, Power BI, office365, Dynamics and others). This allows taking advantage of the Microsoft ecosystem's power and security while providing a tailored user experience for end-users and customers.
Integrations with customer and 3rd-party systems
03
Integrations with customer and 3rd-party systems
The system is integrated with employers' HR and time tracking systems, making a salary advance available instantly as soon as the money is earned. We are also integrated with multiple 3rd-party services such as banking partners (Railsbank), credit unions, time and attendance, open banking, scheduling services, etc.
  • Bacs
  • Ezitracker
  • Sepa
  • Tink
  • Railsbank
  • Fps
  • Sendgrid
GDPR Compliance
04
GDPR Compliance
The architecture is GDPR compliant, ensuring that the employee data is there as soon as consent is given. The service is available instantly after enrollment, but, on the other hand, getting data without consent is impossible.
Transactions, advanced reporting and auditing
05
Transactions, advanced reporting and auditing
The system knows how much to allow to withdraw, is able to send, receive and process financial transactions, and provides auditing and individual reports. The reporting engine covers cases like employee changing payroll, various salary and reporting cycles, cross-checking deduction reports and invoices running different processes and much more.
Front-end, back-end and back-office
06
Front-end, back-end and back-office
The system has several apps that consume API provided by the back-end residing in the Azure Cloud. The solution includes end-user-facing, customer-facing, and a set of internal apps (back-office) used to maintain the system.
Marketing tool (notification module)
07
Marketing tool (notification module)
The service allows sending different types of notifications to employees filtered by set criteria. It also enables management of the target groups, notification itself, checking their statuses, and declining the queries.
Financial Wellbeing App Features

Elva helps employees deal with financial bumps in the road and builds long-term financial wellbeing. The app provides a wide range of services like salary advance, credit union savings and loans, financial education, coaching and advice etc.

  • Salary Advance
  • Credit Union Savings
  • Credit Union Loans
  • Pension Advice
  • Debt Advice
  • Mortgage Advice
  • Financial Health Check
  • Benefits Checker
Outcomes
Outcomes

DeepInspire has built a full-scale Financial Wellbeing App that provides a tailored service for both employer and their employees:

  • provides salary access in a real-time;
  • allows staff at all levels to take control of their finances and build long-term financial wellbeing;
  • helps HR directors understand and deal with the financial wellbeing challenges their employees are facing;
  • is seamlessly integrated with a range of 3d party financial institutions to deliver a perfect "all-in-one-place" experience;
  • has robust bank-grade security using advanced encryption technology to protect users' data.

We were fully responsible not only for product development but also for building processes, customer support and reliable relationships with clients.

Client’s feedback
The best thing about working with DeepInspire is when we put the phone down, I can trust that the work is going to be done.
Patrick Leahy
Co-founder at Elva, the Financial Wellness Company, United Kingdom
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We’ve built a full-scale financial wellbeing app allowing users to control their finances and build long-term financial wellness.
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