E-Payment ecosystem with mobile banking

Android

API

Back-end development

Banking

Information technology

iOS

Java

Mobile

Mobile development

Payment

Platform with a smart mobile banking app (iOS and Android) allowing for instant e-payments, private money transfers, and personal finance management.

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Challenge

The major project objective was to create a reliable, secure, transparent, and easy-to-use software infrastructure for instant domestic electronic payments.

We planned to create a centralized application ecosystem consisting of several integrated modules that would:

provide infrastructure for e-payment system;
provide access to domestic financial services;
ensure high performance and cost-effectiveness of the e-payment system;
ensure robust system security and efficient fraud protection;

Solution

Innowise participated in the development of e-payment application infrastructure, PSD2-compliant API (open banking platform) and digital bank module.

Also, our team developed from scratch iOS and Android applications for instant payments (P2P, C2B, B2B) and banking account management.

As a result, we delivered the mobile banking platform that allows individual and business users to carry out various financial operations online and is an integral part of the entire application ecosystem.

Electronic payment ecosystem

The developed e-payment infrastructure is a complex, unified system that provides the operational part of instant electronic payments and is integrated with the networks of the national financial regulator. The system consists of several modules, including infrastructure core, digital banking, mobile platform, fraud protection, etc.

Consistency with international standards

To enable all financial services to integrate into the e-payment system quickly and easily, we have designed an infrastructure that supports international financial data exchange standards such as ISO 20022 and SWIFT MT.

PSD2-compliant open banking platform

Also, together with the client's team, Innowise’s team has developed a universal solution that allows the ecosystem to work with external systems (banks, financial institutions, payment providers, etc.), provides fast and smooth integration with them, and ensures easy data retrieval.

Digital banking

As for the digital banking module, it was designed so that users of the mobile platform could create their e-wallets, replenish them from bank cards/accounts, and make real-time payments. Thus, digital banking was built into the e-payment ecosystem as another “bank”, processing e-payments but serving only electronic wallets.

Branding and customization options

The solution has a multi-tenant microservices architecture, so it can be used and customized by every bank or financial institution. To ensure high performance, the system reiterates system components, interfaces, services, etc.

Branding and customization options

Mobile application

Since it was vital for both the customer and us to ensure a rich user experience, we designed the mobile solution with a variety of must-have features and functional capabilities.

To start using the application, users must link their bank cards, specifying the bank name, account number/card credentials, and going through the user verification procedure. Users can link an unlimited number of cards from different banks, both regional and foreign.

Having passed the identification process, users can replenish their electronic wallets and make instant electronic payments and money transfers. Users can set up automatic e-wallet replenishment on specific dates. Also, Innowise’s team has integrated a Smart Addressing System that allows app users to perform financial operations quickly and safely.

Our development team has enriched the application with wide payment settings. For example, a Smart Bill Payment system allows users to set automatic e-payments (rent, insurance, sports, tax bills, etc.) for selected dates, set up notifications on upcoming payments, monitor statistics, receive reports on bill value changes, etc. Also, individual and business users can transfer money within the application (account to account) using the recipient’s account number, phone, or email.

To make the app user experience more engaging, we enriched it with personal budgeting functionality. Thus, app users can check comprehensive statistics on incomes and outcomes in visualized form (graphs, charts, and diagrams). Moreover, they can set personal goals on spending optimization and set notifications not to exceed the pre-established expenses limit.

Furthermore, the app supports QR code payments, stores the history of payments, provides inter-account capabilities (e.g., splitting a restaurant bill) and a notification system.

Technologies & tools

Back-end

Java 11 (LTS), Spring boot, Spring MVC, Reactor, Web Flux, Kafka, Redis

Android

Android Studio 4.1.0+, Kotlin, MVVM CleanArchitecture, ViewModel, LiveData, Dagger 2, Cicerone, Coroutines, Multi-Modules

iOS

XCode 12.3+, Swift, MVVM, VIPER, GCD, Snapkit, Codable, Alamofire

Code quality

detekt, SwiftLint

CI/CD

Jenkins, Fastlane

Deployment

unified multi-tenant Kubernetes environment

Database

PostgreSQL, MySQL

JUnit, Mockk, Roboletric, Espresso, XCTest, XCUITest, JMeter, ApacheBench, Gatling

Process

The customer and Innowise agreed to opt for the Waterfall software development model, which turned out to be the most suitable one. Nevertheless, our team used the elements of the Agile methodology in the internal workflow. All communication with the client was carried out using Microsoft products, namely Microsoft Teams.

Having elicited all the customer’s requirements and specifications, Innowise’s experts offered the established technology stack that could allow us to develop multifunctional, reliable, user-friendly, and secure mobile apps on iOS and Android platforms.

As the issue of personal data security and fraud protection was defined as one of the major concerns, our team implemented a multi-factor authentication system and integrated a security system using data encryption, TLS 1.2, SSL Pinning, and tools for instant checking for rooted devices.

Team required

Java Developers

Android Developers

iOS Developers

Business Analyst

Project Manager

Automation QA Engineer

Manual QA Engineer

Solution Architect

UI/UX Designer

Results

Innowise successfully delivered an e-payment application ecosystem complemented by several modules and iOS & Android apps. The client was particularly satisfied with the high level of information security, the development quality & speed, and work communication.

The resulting mobile platform was integrated with the electronic payment application ecosystem and rolled out without breaking the deadline. End-users highly praised the application due to its intuitive UI, shallow learning curve, rich functionality, and high performance.

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