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Minimum Viable Product for a Fintech micro-loan platform delivered in three months with accelerated product development

3

Weeks to build a
dedicated software
team

3

Months to deliver
a minimum viable
product (MVP)

20%

Cost saved using the
dedicated software
team & flexible
resourcing
The Xoomworks OneTeam™ methodology has been very effective for us. I truly felt these were resources from our own team.
Alessio Marinelli, CTO, AMP Credit Technologies

Overview

Innovative fin tech company AMP Credit Technologies (AMP) approached Xoomworks Technology to create a new, automated, micro-loan platform. AMP uses the technology with financial institutions and businesses to provide SME’s with alternative financing. The proprietary platform would cover all stages of loan management and monitoring from application to disbursal and loan servicing, integrating optical character recognition (OCR) and automation.

Engagement

AMP positioned itself to offer the next generation of online credit assessment solutions. AMP wanted a modular loan platform to go live quickly and have a program of continuous development. AMP aimed the new loan platform to save their customers time and money with straight through processing, data analytics, and automation. AMP determined they would achieve their deadlines and benefits for their customers partnering with Xoomworks Technology from their reputation and ongoing relationship. AMP asked Xoomworks to build a multi-disciplinary team to develop the software with expert skills in

  •   Salesforce
  •   Data Warehousing
  •   Proven success with agile scrum methodologies
  •   Xoomworks Technology’s ability to add to the team at any stage with resources from multiple locations

Solution

Xoomworks built a dedicated software team following their Xoomworks OneTeam™ methodology avoiding client-supplier barriers of culture or communication. Using flexible resourcing Xoomworks could add skills to the team at any time. AMP and Xoomworks developed a unique architecture for the loan platform using a variety of standard technologies and methodologies, including

  •   Salesforce
  •   Web API’s (sync channel bus)
  •   SQL Server (business logic, data layer)
  •   Agile scrum as a development strategy
  •   A delivery model of continuous integration with delivery on a quarterly cycle

Implementation

Full stack development was undertaken based on Enterprise Data Warehouse (EDW) technology using Microsoft BI stack (SSIS, SSAS, and SSRS) Integrating to

  •   Salesforce for effective CRM
  •   SharePoint for content and document managementa
  •   Internal legacy database systems

Data are exchanged between the front-end and the back-end via web API. Each endpoint calls a stored procedure to read/write data from/to the SQL database.

Success

AMP, and Xoomworks Technology with their flexible resourcing model delivered an MVP within the three month deadline. The new platform resulted in faster B2B decision making for AMP’s customers with an efficient and secure system. Post-delivery, Xoomworks Technology built AMP a dedicated development team based in Sofia, Bulgaria and Cluj-Napoca, Romania. The new team provided a 20-30% cost saving over a UK based team with a similar business culture and small time difference. Xoomworks Technology and AMP have an ongoing relationship further developing AMP’s fintech platforms.

About AMP

Advanced Merchant Payment Credit Technologies Ltd. (AMP) is an international financial technology company providing automated loan origination and loan management for financial services and industries serving the SME sector. Operating since 2010, AMP covers the Asia-Pacific region with offices in Hong Kong and Singapore, and Europe with offices in the United Kingdom. AMP promotes equitable, transparent, and trusted small business lending through banks and business service providers. AMP’s four main technology offerings are Lending Automation, SME Credit Assessment Models, Credit Risk Monitoring, and End to End Lending Solutions. AMP have implemented their solutions globally and received the RBI Asia Trailblazer Award in 2015 for “Highly Commended Award for Best Initiative in Financial Inclusion.”

For more information go to www.amp-creditech.com

Contact Us

Want to learn more about Xoomworks OneTeam™ and how our methodology can benefit your team culture, effective delivery and increase quality of future technology innovation and transformation projects?

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