Project Altro – SmartRabbitz

Summary about the offering

A solution to help members build credit history, make transactions in a in a secure and stable manner, track their journey of building up creditworthiness, get educated on the ropes and nuances of building up credit history, and create wealth and generate assets

Client’s Requirement

To build an end to end solution that securely verify applicants, on-board members, enable members to make secure financial transactions, help them build up their credit worthiness, track the journey of moving up in credit worthiness, and get educated about the process of building up credit worthiness. The application is expected to support higher conversion, lower fraud, and easy integration. Following are some of the services requested to be built:

Verify identity data
Authenticate IDs
Confirm Live-ness
Connect to bank accounts
Verify user information with bank data
Instant authentication of accounts
Faster payments and lower risk - Predictive scores that indicate likelihood of ACH returns
Scores to break down into attributes that explain the reason behind the score
Create dynamic payment flows with tiers designed for customized responses to each level of risk
Customer reports for Credit Underwriting
Cash flow insights
Assets - Snapshots of users’ finances
Income – Income and Employment verification
Custom multi-rail solution for moving money
Reduce NSF fees and return risk
Reconcile payments fast
Safe and quick transfer
Unlocking instant ACH
Instant verification of identities
Instant verification of account balances

SmartRabbitz Solution

An End to End Fintech solution that: Is custom-built and also connects with third party applications with appropriate end points being exposed for data exchange; Is a custom multi-rail solution for moving money; Measurably improved the applicant verification process and reduced its cost; Eased the on-boarding process, and ensured lower rate of dropping out during the process; Ensured higher accuracy in credit underwriting process

Backend

Golang

Mobile App

Flutter

Database

Postgres

Cloud Dependencies

AWS Cognito AWS SQS

Container & Orchestration

Kubernetes Docker

Modules within the Solution

Verification & On-boarding

For verifying the customer details and to take care of the on-boarding process.

Prediction & Credit underwriting

To make predictions on customer behaviour and to support credit underwriting

Transaction Execution

Handles all financial transactions

Analytics on individual credit history

Provides analytics on individual credit history

Customer Education –involving video conferencing sessions, podcasts, Expert talks etc

Provides tools for customer education