RNDpoint

https://www.startus.cc/company/rndpoint

128 Kemp House

London

EC1V 2NX

United Kingdom

Website

General information:

RNDpoint is a global FinTech development services provider. We are a trusted partner of FinTech SMBs and startups, delivering full-cycle assistance with innovative finance projects. Our experts possess in-depth domain-specific expertise, enabling us to lead clients through the FinTech startup pipeline without friction and with fewer risks.

RNDpoint has been helping banks and startups develop superior FinTech software since 2014. With over 250 certified experts and a vast portfolio of FinTech services, our company has become the partner of choice for over 60 financial institutions worldwide.

OUR FINTECH APP DEVELOPMENT EXPERTISE INCLUDES:

Trading apps & platforms
Wealth management & Robo-Advisor
Lending Software & Scoring
Digital payments & Payment processing
eWallet development
Mobile Banking
BNPL & Loyalty Management systems
Digital Onboarding & AML / Anti-fraud solutions
Insurance software solutions

Company information:

Company type:

Company

Industry:

IT - Mobile, IT - SaaS, IT - Service, IT - Software Development

Founded when:

Friday, 3 January, 2014

Total numbers of employees:

250

Products and Services:

Soft-collection Renovation for a Retail Bank

The Bank is one of the significant players in the commercial retail banking sphere in Central Europe. Retail lending is the main operational field for our client. Its main area of interest embraces credit card issuance, retail lending, and deposits.

The Bank is collaborating with many large retail chains. It is represented in over 100,000 points of sales and has more than 150 branches.

When the Bank’s management got in touch with us, the necessity to remaster the debt collection system was vital. Our company was recommended to the Bank by FICO – one of the largest vendors of financial software solutions.

The Bank had an implemented debt management software solution from FICO. The debt management system fully covered the Bank’s needs. But it was outdated and was not supported by the vendor anymore.

It was decided to replace the installed software with a new analogous FICO product to remove the bottleneck both in performance and accuracy. The remastered system should become a basis for the new debt-collection automation technology.

During the negotiations, the Bank and our company agreed on the necessity of migration of the functions from the existing system into the new one. And the new debt management system should be fully customizable and more productive.

Both parties were working hard and thoroughly for 6 months. During the period of system renovation, all the functions required by the Bank for the Soft-collection stage were embedded in a new software solution and new decision-making strategies were deployed in BRMS.

The Bank started to use the system immediately due to its stability and reliability. After launching the new debt management system, our client noted a significant increase in debt collection efficiency.

The new system launch automated the processing of toxic assets and allowed the Bank to respond to them 32% faster. With every successful iteration, our cooperation with the Bank was taken to the next level of trust. That’s why our team was asked to renew the Hard-collection stage too.

Loop: eWallet and Payment Platform for a Saudi Arabian Client

BayanPay is a financial services startup based in Saudi Arabia. The company was licensed to set up a digital wallet. They engaged an outsourced software developer to create a digital wallet app.

However, the contracted vendor failed to create the application within negotiated deadlines due to the lack of expertise in the required field. That made BayanPay look for another software development company to build the functional app they needed.

The CEO of BayanPay got in touch with our team asking to pick up the failed project. Our experts had to audit the already written code for quality and security, finish the development process, and prepare the software for the final launch.

The client also wanted stringent control and planning of the development process to avoid another failure. To speed up the process, BayanPay asked to engage more developers in the project as well.

After the initial code auditing, some additional requirements were uncovered. The adjustment of the software pipeline with DevOps tools was needed. And the project management required better tasks and bug tracking together with spring planning.

On the basis of the work the initial vendor had already made, our team set up the primary task to ensure the stability of transactions, carry out the efficient integration of contact with the app, and embed transaction confirmation via a phone call (Unifonic).

As well, our software engineers improved app safety by eliminating security vulnerabilities and bugs. The transition-related bugs were fixed and the integration with banks was achieved too.

Our technical team made tangible improvements to the software development process quality of the project. We engaged our most experienced, skillful, and disciplined specialists to deliver the best code quality.

With better planning, timely milestone delivery, and code improvement, the final app version can ensure a secure and frictionless financial experience for individuals and businesses who choose the digital wallet for non-cash payments.

P2P Money Transfer App

The RNDpoint team completed a large-scale project on innovative P2P Money Transfer App development from scratch. Our coders conducted full-scale app creation within 6 months, delivering a functional platform with a rich feature set to the client on time. Here is a detailed overview of the challenges and the decisions we made to address them.

Our client is an innovative European bank, operating since 1994 and providing clients with new state-of-the-art financial products. It provides cutting-edge FinTech services for retail clients and businesses, holding the title of one of the top banks in its region. The client’s name is NDA-protected and further will be referred to as the Bank.

The Bank came to us with an ambitious project of P2P payment system development from scratch.

The business idea was to extend the Bank’s service coverage with a money transfer app and give the current clients and new users a seamless and secure channel for financial transactions.

The RNDpoint team developed the P2P Money Transfer App from scratch.

The initial stage of our project work involved deadline and functionality negotiations. After that, the development work started. We worked extensively on the UI/UX design to deliver a top-tier product for the Bank. The team used the Apple Pay integration and also linked the core banking system with the bank’s gateways to allow transaction processing.

As the app was developed for iOS and Android platforms, the Bank’s major requirement was the speed of user transactions.

The initial arrangement with the Bank presupposed that RNDpoint would be responsible for end-to-end software development and the in-house team’s training on the app’s operation and maintenance. The Bank planned to support the app and continue its development and updates in-house.

Brokerage: Stock Trading and Investment App Development From Scratch

The client is a commercial Bank founded in 2000, serving clients in Western Europe. The client’s core service area is the consumer lending market, so it specializes in retail loans, credit cards, and the reception of deposits.

The Bank is on the list of the Top-100 banks, providing service online and via 150+ local branches. It also has an established collaborative network with major retail chains.

The client Bank had a brokerage platform, allowing its clients to invest in securities and stocks from their mobile banking app accounts. However, the platform was pretty old and possessed a monolith architecture that lacked flexibility and was non-scalable.

The Bank turned to RNDpoint to create a new brokerage platform. Our engineers had to create a microservice architecture from scratch and develop all the functionality of the application:

Opening new brokerage accounts for users.
Completing deals with stocks on the stock exchange.
Completing currency exchange deals on the stock exchange.
Depositing and withdrawing money to and from the client’s brokerage account.

The RNDpoint team was also involved in many related development tasks during the project’s progression. The main areas of our responsibility covered:

Architecture design and development
Systems analysis
Functional testing

The overall task involved developing an investing platform with simple trading tools and a user-friendly, intuitive interface, which would allow users to complete deals on the stock exchange in a couple of clicks.

The functionality RNDpoint’s experts created included:

Brokerage account/IIM opening. The Brokerage app allows the opening of several types of brokerage accounts for various needs.
Money deposits and withdrawals. Users can deposit money to their brokerage accounts from any bank’s card and withdraw money the same way.
Portfolio overview and analytics. The users can review their stock portfolios and revaluate their assets in different currencies, performing price delta tracking. They have access to in-depth portfolio analytics, such as viewing the total portfolio value and categorizing assets by type (shares, bonds, funds, and currencies). Every user can see how much they paid in taxes and how much income they received in dividends on shares and coupons on bonds within the set period.
Real-time asset analytics. Users can track the assets’ price dynamics with line, bar, or candlestick price charts, examine the information on security redemption possibilities, study news related to a specific asset, and see the scheduled payments to this asset’s holders.
Transaction history overview. The users can see all their transactions within the chosen period by reviewing the list of orders for stock purchases and sales they placed.
Investment calendar. The built-in calendar informs investors about the dates of dividend payments and bond coupon issuance to help them plan asset purchases.
Notifications. The users receive in-app and push notifications about their order status changes, stock exchange news, selections, deposits, and receipts from an account. Statements about cash flows in the user accounts are delivered by email.
Support of all order types. The users can set stop-loss orders, limit buy/sell orders, and market orders for all their trading transactions.
Advanced asset filters. The Brokerage app contains smart filters that allow quick sorting of securities by a variety of parameters, from the basic set (name, stock exchange code, settlement currency) to the most advanced (yield per period or percentage, amortization, market sector, offer terms, and price change over a specified period).
Margin trading information. Users can view the list of securities available for margin trading, see their available margin leverage, and review the history of fees charged for margin trading operations.

Besides these handy features, our team has provided the Bank’s users with a broad range of stock exchange offerings, some of which are given on an exclusive early-stage basis:

IPOs. The Bank’s clients can review the issuer’s information, submit their applications for IPO participation, and track the application’s execution status in the app.
Bond offers. The users can apply for initial bond offers and track their application’s status in the app.
Referral campaign. Clients can gain rewards from the Bank by inviting their friends to download the app and open a brokerage account. Once the referred user deposits money into their accounts and starts buying assets, both receive bonus terms for margin lending (i.e., buying assets with borrowed money, with the leverage calculated based on their portfolio size).
Asset packages. Investors can purchase packages of instruments prepared for them by the Bank’s qualified investment advisors.

The process of registering an account and getting verified was also organized in a user-friendly, convenient way by RNDpoint engineers. The users can fill out the W8, FATCA/CRS, and other forms with their application inside Brokerage, with no paperwork involved, and sign all documents with EDS.

The investor testing required by the Central Securities regulator is also done online. The app thus comprehensively covers all investment processes the Bank provides in one intuitive, functional interface.

The project was delivered to the client in August 2020, after one year of intense development work. Only three months later, Brokerage exhibited promising statistics for user activity:

5,967 deals and 4,849 requests for deals with securities.
275 currency deals (237 of them were done with micro-lots).
5,050 new brokerage accounts and individual investment accounts registered by users.

The app’s popularity increased very quickly within the first year of operation.

In April 2021, there were 1,021 active brokerage accounts among the Bank’s clients, while in January 2022, their number reached 14,000.

By the end of 2021, Brokerage had 67.5K+ registered brokerage accounts.

Buy Now Pay Later Payment Solution

Our client is an innovation-focused European bank that provides ground-breaking FinTech commercial and consumer services. The client’s name is NDA-protected and further will be referred to as the Bank.

RNDpoint used to work with the Bank on a payment system development from scratch, so it was not our first project with the client. The Bank’s management remained highly satisfied with the previous project, so they hired RNDpoint to create a brand-new BNPL solution for their clients.

The BNPL project presupposed issuing payment cards that allow its owners to buy merchandise and pay for it in installments of up to 12 months without a credit interest.

The RNDpoint team was tasked with developing the complex BNPL solution. We had to create a website, an online portal, and a mobile app, all integrated with the client’s administrative database.

The main functionality of the new BNPL product was to be as follows:

The purchase price should have been divided by the number of installments chosen by the user, which would have reduced the credit burden.
Every Bank user receiving the BNPL card would have a personal account containing all information about their loan repayment status.
Users should also be able to find the list of partners, goods, and services available for acquisition on the BNPL principle.

The RNDpoint team worked on the BNPL solution’s technical specifications, UI/UX design, full-stack development of the ecosystem, and further testing. We also completed much work on the database integration and restructuring for its smooth linkage to the client’s IT infrastructure.

RNDpoint coders also completed the accounting department’s operational optimization. We uncovered a persistent glitch in the invoicing system, which forced accountants to revise them manually. Our improvements ensured quick, automatic invoice generation without errors.

The second iteration of our project work involved a business portal’s launch for commercial users wishing to become part of the Bank’s BNPL program.

The RNDpoint staff developed a new, functional administrative database for the Bank to track all financial and legal documentation with BNPL partners. We also handled complex database integration and reengineering tasks to ensure the portal’s efficient operations.

The result of RNDpoint’s work on this project was the full development of a large-scale BNPL project. The solutions included a mobile app, website, and online portal.

Currently, the app has a network of 30,000+ commercial partners, becoming the country’s largest and most famous BNPL program. The program has become the #1 source of revenue for the Bank.

The RNDpoint team is continually involved in the ecosystem’s upgrades, with the client issuing new tasks on a regular basis. The Bank was highly satisfied with our partnership results, entrusting new features and UI development to RNDpoint.

Our team passed all source code and technical documentation to the Bank’s development team so that they can provide independent app maintenance.

Breaking Equity: Algo-Trading Experience Transformation

Breaking Equity is a FinTech startup headquartered in the US. It focuses on innovative automation of stock trading for retail and institutional investors.

The company was founded with a mission to make advanced stock trading tools and strategies more accessible both for seasoned brokers and novices.

The Breaking Equity founders created a team of skillful engineers and data scientists to make the technology previously accessible only to hedge funds and financial elites available to individuals.

Breaking Equity got in touch with our team as a well-known developer with 8+ years of experience in FinTech and banking industries. The project was aimed at creating an algo-trading solution that could make stock market asset trading possible in a few clicks.

The app should contain fully automated trading tools and provide users with free and premium marketplace strategies.

Another task was the development of a customizable builder of strategies that would use historical trading data for the last 20 years.

The close cooperation of tech experts made the project implementation fruitful and smooth. Our team developed a product containing the following features:

An application with an in-built set of free and premium tools for the creation of trading strategies.
Virtual money trading tool (demo account) for testing strategies through operating with virtual funds.
Subscription-based user model with basic and advanced features for novices and experienced traders.
Strategy customization feature enabling users to create unique strategies and sets of filters.

The product was launched in October 2021. Though the project implementation is still in process of final fine-tuning and full-scale app development, it has already engaged 1,000+ users who are managing millions of dollars on a daily basis.

Currently, the app is fully integrated with many popular trading brokers, such as Interactive Brokers, Robinhood, Charles Schwab, and covers all the US stocks.

RNDpoint team campaigns the digital marketing promotion of the product in various online channels.

Compliance Software for Healthcare Organizations

Credentially is a B2B SaaS solution for employee credentialing and onboarding in the healthcare industry. The company was established in 2016 and now has offices in London and Lisbon.

Credentially has developed from Techstars London accelerator and won multiple awards for bringing tech innovation to the healthcare sector, including:

HealthTech Awards 2020
UCL Bright Ideas Award

The Credentially SaaS platform is a fully automated product that helps healthcare providers onboard new staff and check their credentials to ensure compliance within only 5 days.

The app has direct integrations with governmental resources and uses deep learning technology to ensure advanced credentialing, onboarding, and compliance automation across the hiring process.

The system’s administrator in every client company can set up and adjust the whole process with business-specific configurations.

The client needed a team with expertise in working with FinTech startups that would function autonomously and help it with product development.

Our task was to improve the product and develop new functionality. One of the main requirements was to automate the tasks performed by senior management in order to reduce their workload.

The RNDpoint team had to study the existing functionality of Credentially to contribute to its further development by completing internal and external business tasks.

As a result of UNA API integration, the Credentially platform has expanded its functionality for the collection, analysis, and approval of candidates based on the employer’s requirements.

The new system functions have enabled the convenient collection of all candidates’ data and test summary results in the UNA profiles.

The RNDpoint team has also explored and evaluated the advanced authentication system’s development by adding the second authentication layer and equipping the platform with the SAML 2.0 SSO sign-up/login feature.

The client is satisfied with the work of our team. The project is ongoing, and we continue to develop new functionality and provide technical support for the platform.