Project Overview
Confiz partnered with a leading fintech firm in the Gulf region to develop an all-in-one financial app, empowering everyday users financially. This app offers a range of features, including Islamic Sharia-compliant loans (financial products adhering to Islamic law principles), bill payments, fund transfers, vouchers, and mobile top-ups, providing a seamless and versatile financial solution.
The need
A leading fintech firm in the Gulf region, with a significant presence across multiple countries, recognized the need for accessible and user-friendly financial services for everyday users. To meet this demand, the client aimed to develop a versatile mobile wallet application for instant financing that was accessible anywhere without paperwork or hidden costs. The app needed to support seamless fund transfers, bill payments, and Sharia-compliant small loans. The goal was to deliver individuals quick, transparent, and hassle-free financial assistance, eliminating traditional paperwork and other rigid conditions.
The Solution
Confiz stepped in to turn the client’s vision into reality, creating a cutting-edge digital wallet and instant personal loan app backed by the trust and licensing of prominent regional banks.
Our skilled mobile app developers developed a secure and scalable mobile application for iOS and Android platforms. SpringBoot, a Java-based framework, was used to manage intricate financial transactions securely, laying the groundwork for a reliable financial platform with certain back-office features like credit monitoring, credit reviews and approvals, and reporting using Angular.
The app featured an intuitive interface, allowing users to navigate, transfer funds, pay bills, and apply for loans with just a few taps. It also offered gift vouchers from popular phone brands, enhancing its versatility and user appeal.
The Outcome
Financial inclusion
The app provided financial services to individuals, enabling them to access small loans with ease, facilitating over 100,000+ small loans and processing 500,000+ bill payments.
Quick user adoption
The app’s intuitive design and user-friendly interface led to high user adoption rates, with several downloads in a short period, significantly boosting its popularity.
Reduced operational overheads
The app significantly reduced operational overheads by automating transactions and loan processes, saving time and resources.
Regulatory compliance
Licensed by the region’s central bank, the app complies with strict financial regulations and Islamic principles. Its military-grade security measures ensure all transactions are secure, instilling user confidence.
Sustained business growth
The client has solidified its position as a credible fintech startup with a growing user base and increased transaction volume. They drive rapid business expansion and sustained growth by prioritizing customer convenience and financial inclusion.
