Mobile Money Transfer App Development

To simplify the process of global money transaction

The customer wanted to build a custom money transaction platform that simplifies currency distribution for their global users. It must be scalable, intuitive & meets the global compliance norms for fraud detection, tax evasion & anti-money laundering. It would simplify currency distribution and facilitates instant fund transfers anywhere in just a few taps.

Capability

Cross-platform

Industry

Fintech

Country

Key Features

The mobile solution helps manage secure fund transfer transactions based on the integration of reliable & available third-party solutions for payment processing.

User authentication

Multi-layer login verification to validate the user identity before processing digital cash transfer via the mobile app with real-time status tracking of processed transactions

International transfers & currency exchange

Allow users to enjoy stress-free cross-border fund transfers such as sending euros and receiving dollars in just a few swipes

Wide support

Contactless payment system for users that supports 1000+ credit unions and bank accounts

Live rates and currency trends

Real-time update on exchange rates before making the final transactions to benefit from discounts on transfer fees

Challenges

No system to enable global compliance norms for fraud detection, tax evasion, anti-money laundering

Unavailability of real-time currency conversion mechanism

No tracking mechanism for user & transaction management

Lack of system which can support multiple platforms

Solutions

Our proficient team utilized Microsoft’s ecosystem to develop the entire money transfer platform with related components. The solution was built in a planned phase manner, starting with a “Proof of Concept” to test and validate market acceptance of the proposed concept to develop the final platform.

Central platform

We utilized .NET’s capabilities to develop a centrally hosted transaction platform that manages the fund transfer transactions. Our team leveraged Azure and SQL Server to manage mission-critical database workloads for this platform. It offered limitless scalability and performance and security to manage fund transfer transactions.

Third-party integrations

We used secure & available third-party payment processing & fund transfer solutions like Currency Cloud for currency conversion & Open Exchange Rates for currency value checks. Twilio was for text-based messaging alerts on transactions, ID³ Digital for Know Your Customer (KYC) processes.

Mobile application

With Xamarin we built an easy-to-use cross-platform mobile application that helped minimize development costs, increase device adoption, and app usability.