Development of the first online bank with BitCredit
BitCredit tasked us with an ambitious and challenging project involving developing an online credit platform. The project was challenging not because of its scale but because of its demands. Our task was to create the first online bank in Ukraine without branches. Duanex faced this challenge and developed a scalable and secure platform established upon the foundation of another bank, utilizing its processing capabilities. Additionally, we created functional mobile apps that simplify communication and increase customer engagement and retention.
Duanex Approach
Our team started with a comprehensive analysis of the project’s requirements and goals. We gathered all necessary data about the operation of the existing financial corporation, identified pain points and failures, and created a clear vision of the online credit platform.
Mob apps and credit platform development
The project’s core was the creation of scalable and secure software products. We did our best to create software solutions tailored to end users’ needs. Our mobile solutions were designed to simplify communication and increase customer engagement and retention. Using mobile apps developed by our engineers allowed customers to make financial transactions with 100% security and 24/7 personal assistance.
Functional scalability
We had to accommodate a growing user base for the platform and increased transaction volumes. Our developers successfully devised solutions that could seamlessly scale up to meet these future demands, ensuring a sustainable, long-term product. Also, we created applications that set new and higher bars for customer experience. Mob apps created by our engineers allow users to manage their finances, monitor their credit accounts, track savings and spending, and use many other options.
Creating an efficient scoring system
The most critical component our experts faced was developing an efficient scoring system. To build an accurate scoring model, it was necessary to integrate it with various data sources, including credit history data, is essential. A scoring model developed by our experts evaluated an applicant’s creditworthiness, considering numerous factors and variables. These can range from income levels to past financial behavior.
By distinguishing between legitimate clients and potential fraudsters, our team minimized the risk of credit defaults and fraud. We created an effective fraud detection system that can analyze various parameters and patterns to identify suspicious activities, enabling the issuer to have peace of mind when extending credit lines.
PCI DSS compliance
Being aware of the importance of security in the finance sector, our software developers deliver transparent and highly secure software solutions. Our team develops products that comply with the rigorous standards of PCI DSS (Payment Card Industry Data Security Standard). It ensures reliable protection of sensitive data, increasing customer trust and safety.
As a result of the collaborative work and unwavering commitment of the Duanex team, our client received a unique product, no two alike. With extensive expertise and dedication to efficiency and quality, Duanex experts developed credit platform and mobile apps that significantly streamlined the client’s operations. Thanks to the professionalism of our developers, we made this innovative banking concept a reality. Duanex has not only delivered a solution but has set a benchmark for future innovations in the world of banking.
