Requirements
The customer wanted Elinext dedicated team of IT engineers to develop an advanced CRM (Customer Relationship Management) system. It had to be able to import financial data (customers’ transactions, daily prices, CUSIPs, etc.) and use them for calculation of customers’ account balances, bank commissions, etc. It was also expected to allow completing document forms for a customer online (web interviews), store them in the database with the ability to modify some data, and generate a complete PDF document. Further, the system was required to have a set of web services and communicate with third-party services to import created customer transactions by agents in the system to some external global systems and allow third-party software to get some information from it. Elinext’s fintech expertise also covers automotive commerce, including car auction software — a platform enabling online vehicle auctions with integrated bidding and payment processing. A related Elinext project — the car insurance auction platform — combines auction mechanics with insurance claims processing for used and salvage vehicle sales. Elinext also built the cash and liquidity management app — a treasury solution that gives corporate finance teams real-time visibility into cash positions and liquidity forecasts. Elinext’s fintech portfolio includes a cash management of corporate actions platform, built to eliminate manual processing of dividends, rights issues, and other corporate events. Elinext also built a one-time password generator — a mobile security app that creates hardware-independent OTPs for two-factor authentication in banking and financial services. Elinext also built its own elinext invoice management application — an internal finance tool that automates invoice generation, tracks payment status across multiple projects, and gives accountants a consolidated view of outstanding receivables.
Challenge
The most complex issue was to provide quick processing for a huge number of raw data (transactions, calculation of commissions, generation of reports, etc.) and to depict them in a user-friendly mode “on-the-fly”. Elinext applies similar intelligence-driven data processing in sales automation as well — see the AI powered lead management software solution, where AI classifies and qualifies incoming leads automatically.
Solution
Our developers found an original and effective solution: to make data undergo preprocessing in the nighttime. Optimized, the data is then made available to users for quick use in the daytime. Efficient overnight data processing is a pattern we also applied in our backend app development for banking project.
Results
The outcome of the project is a robust SaaS platform that can help financial institutions serve the investment needs of their clients. It has enhanced visibility, supplying users with the most up-to-date tools and options: advanced CRM integrated with client investment data, synchronization with MS Outlook and PDAs, referral tracking, online brokerage, and banking tools. Financial institution integration is a recurring theme at Elinext, as seen in projects like an app for integration with financial organizations. The same financial institution focus drives mobile client apps like our bdo financial app, which puts banking services directly in users’ hands.
