Innovative Technology Blog

The advent of online trading platforms has made investing and trading accessible for the general audience. People no longer need a middle-man, preferring to use stock apps like Robinhood to trade. As a result, the market of easy stock trading apps can skyrocket in the years to come. Yet, for now, it is still relatively niche, waiting for the new grand players.

However, when it comes to building a stock trading platform, a bunch of practical questions arises. That’s all right, in this article we will uncover them all.

Investment Software Market Overview

The modern market of Robinhood-like apps is driven by users that want to invest with little money. Today, each person can download a stock advisor app and start investing right away. The overall investment process has become more simplified and affordable due to the zero-fee investing trend.

So, it is a viable choice for the existing trading businesses to invest in stock trading app development, improving their services, and increasing their customer base.

According to the Market Study Report, the stock broker app market is expected to reach $4497.9M by 2025. However, there are just a few major players in the investment software market right now, Robinhood being one of the brightest ones. Robinhood has managed to engage 22.5M, active users, since its launch in 2014, according to Statista. Despite its vast popularity, the Robinhood web app also faces severe criticism in the finance field due to its gamified approach to trading and many other aspects. So, the best stock app is yet to be developed.

How Does an Online Investment Platform Work?

A good understanding of an online investment platform’s basics is a must if you want to find out how to make a stock market app. Let’s get through them.

A stock app like Robinhood provides insights that can be useful when deciding where or how much to invest. Typically, it is shown in the form of a graph, and users can learn the investment news, the performance figures of the company they invested in, etc.

These platforms need technologies, including big data, data analytics, and others, to provide profound analysis. So, typically, to develop an online investment platform, you need a trustworthy technology partner.

However, keep in mind that different types of investment platforms have their peculiarities in terms of development. There are different classifications of stock investment apps. For instance, some experts distinguish them depending on investment types.

Types of Investment Platforms

If you wonder how to build a stock trading app, you have to understand what investment types are there. Each investment type can be a niche for stock trading app development.

Your potential users can invest in:

• Actively managed funds;
• Exchange trading funds (collections of stocks, bonds, etc.);
• Shares;
• Index tracking funds;
• Property;
• Pension;
• Business projects;
• Social projects;
• Investment trusts.

Nowadays, the most vastly used investment platforms are the ones for exchange-traded funds. So, let’s focus on them a bit more.

Exchange-traded funds (ETF) trading platform apps help their users take part in stock trading. A bright example of such applications is Robinhood. ETFs are divided into four subcategories, each of which can also be a separate app type. These are the following:

• Sector ETFs present exposure to certain sectors of the economy (e.g., retail or technology);
• Foreign market ETFs present exposure to economic blocks (e.g., EU), regions (e.g., Latin America), or separate countries;
• Style of investment: for instance, investing in large-cap stocks;
• Asset class: The exchange-traded funds that hold one type of asset (e.g., high-risk bonds.)

What are the peculiarities of exchange-traded funds that influence the custom software development for them? ETFs are sold on stock exchanges every day, so when creating a features list, you should take it into account. It is a good idea to present an analytics graph of how the stock performs at the given moment. This will allow your users to decide whether to change the sum they are investing in a certain stock.

No matter what stock advisor app you want to create, keep in mind four main steps you should take to develop it successfully.

4 Tips to Create a Successful Investment App

As we at Visartech have learned from our experience, there are four most effective tips that will help you develop a successful Robinhood app alternative:

• Perform a thorough competitor analysis

Study carefully what the market has to offer, analyze it, and create something even more useful, convenient, and secure.

• Consider the fintech-required compliances

Compliances are of prime importance when it comes to the financial sphere. So, make sure your trading app like Robinhood complies with all the required regulations.

• Hire a team for custom software development

Your technology partner heavily influences your business success. So, take your time to choose a vendor that is highly experienced in the financial domain.

• Create a list of features your application should have

Compiling a list of app features is no easy task. It requires many steps you can’t neglect. For instance, you should perform a thorough research of your competitors. Also, you have to set clear objectives of what your stock broker app should be doing. Keep in mind that all the features should be based on the objectives of your business. It is a complex process. However, we have come up with the five most critical features a stock investment app should have.

8 Key Features of a Stock Trading App like Robinhood

Each app can have a wide variety of features, so it is really up to your choice. However, in terms of stock trading app development, it is a good idea to focus on the core features that your app must have to satisfy the critical needs of your end-users.

Let’s break it down to the user path. It goes as follows: registration, setting up a personal profile, adding bank card, stocks assessment, and payment. These five features are the bare minimum your online trading app needs to be competitive on the market.

There are different ways to implement each of these features. Anyway, we will focus on the best practices our app development company has come up with.

#1. Registration of a Personal Profile

This phase should be as simple as possible. So, it is a good idea to offer a few ways of registration (e.g., via Facebook, Google, Apple ID, etc.) You can also add the possibility of signing in with the e-mail/phone number and a password. No matter what options you add, make sure they are all secure. We will dwell on security more later in the article.

To add a personalized touch, add the feature of a personal profile in your app. There your users should be able to add their data, photos and see their performance.

#2. Adding Bank Card

In this section of your Robinhood-like app, the users should be able to add their bank account information to actual trade. This feature is one of the most critical ones for your online trading app. So, make sure this section is easy to use and the data is secured.

#3. Third-party Payments

Payments themselves also must be secured. So, link the trusted third-party payment services to your top stock trading app. For instance, you can integrate your service to the giants such as PayPal, ApplePay, Google Pay, or similar ones.

#4. Analytics

Typically, analytics in apps similar to Robinhood is implemented through charts. They in turn are enabled by complex technologies, such as data science, AI/ML, and others. So, to apply this feature successfully, you need a partner with extensive data and data visualization expertise.

Charts differ in terms of their complexity: basic charts, for instance, indicate moving averages, Bollinger bands, etc. More sophisticated ones, at the same time, may include line break charting, Fibonacci plotting, and more.

The most important aspect of analytical charts, however, is adding trend lines. These will help your users make informed decisions on where to invest.

#5. News Feed

This feature is critical, especially if you plan to develop a trading platform for beginners and day traders. Such users of a Robinhood app alternative rely heavily on trusted resources, such as Reuters, Dow Jones Newswires, PR Newswire, etc. So, it is a good idea to integrate the latest relevant news from these editions to the news feed of your similar to the Robinhood web app.

Also, you can add insights from the scanning tools.

#6. Scanning Tools

AI-powered scanners look for potential trades on the stock market. Like analytic tools, scanners can be of different complexity levels. For instance, simple scanning tools can provide insights on most attractive stocks at the moment, companies that are on the rise, or, vice versa, in decay. A more sophisticated scanning system, at the same time, can look for specific patterns, thus helping your users make more informed investing decisions.

#7. Fundamental Research Tools

Such tools allow your users to quickly access information on the companies they plan to invest in. Research tools that provide insights into financial metrics, news, and other information relevant for trading. So, rather than searching the internet, your users will look up the information in your app. This in turn will help your trading platform serve as a one-stop-shop, increasing the time users spend on it, which results in your revenue growth.

#8. Support

Reliable support is critical when you create a trading platform. The success of your stock app like Robinhood depends heavily on how you support your users. Keep in mind that speed is of the essence when it comes to trading. So, make sure that your users can get support (no matter technical, trade, or administrative) directly via the platform.

Although the mentioned features are useful, they will be nothing if not secured. Yes, security and data protection are cross-cutting themes when it comes to the development of investment apps like Robinhood.

Data Protection in Trading

There are best data protection practices used in stock trading app development to make a stock trading app secure such as:

• biometric authentication

Biometric authentication is a security measure widely used in the finance industry, and trading platforms are no exception. Basically, users can access the app only with biometric data (fingerprint access, face recognition, etc.)

• multi-factor authentication

This security layer requires users to enter a verification code and password when logging into your investment app. This code is typically an “OTP” (one-time password) generated with or an app (e.g., Google Authenticator).

• defending your users from cybersecurity threats

There are different ways to prevent cyber attacks from happening: to implement a feature of automatic log out from the app when the user session is over; to provide regular security patches that are installed automatically; to allocate your app only on the trusted marketplaces (e.g., Google Play, App Store).

• data encryption

This security measure is critical, as trading platforms store sensitive user information, such as cardholder details. Storing such information without encryption may lead to hackers siphoning funds of our users.

The mentioned security measures do not come to their full power without some fintech regulations. How to build a trading platform that will transparently operate in the market? Let’s proceed to the compliances your stock trading business requires.

Regulatory Compliance in Financial Services

When you choose the target country for your trading app, like Robinhood, it is a good idea to research local compliances for the fintech industry. Let’s view some in the USA and the UK.

The United States

For instance, the local fintech market sticks to the laws of CFPB – Consumer Financial Protection Bureau in the USA. This authority implements consumer protection laws. If the user rules of a trading platform are vague, its owner will be fined.

Some other organs that regulate financial services in the USA are:

• CFTC – Commodity Futures Trading Commission;
• FinCEN – Financial Crimes Enforcement Network;
• BSA – Bank Secrecy Act.

The United Kingdom

Each and every stock investment app operating in the UK must adhere to FCA regulations. This institution regulates the fintech industry standards.

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Also, countries typically have Anti-Money Laundering laws which should also be considered when you create an investment app.

When the security part is rather clear, let’s move to the most critical business outcome: revenue.

How Robinhood App Makes Money and Other Ways of Monetization?

Before diving into the development, you should have a clear vision of your business model. Different monetization methods will help you grow your earnings. Let’s take a closer look at them.

• Interest

Collecting interest is one of Robinhood’s monetization methods. They collect a percentage of funds that are uninvested yet but reside on balance. However, the app is widely criticized for it.

• Freemium

Freemium is another monetization strategy adopted by Robinhood. With a Robinhood Gold account, users can access extra margins, stocks, and prolonged hours of trading.

The name of this method is created through the merge of the words “free” and “premium.” So, this way of monetization allows the users to download an app for free but pay for premium features. When it comes to trading platforms, you can provide more market analytics for premium users or make the premium version ads-free. However, make sure that inaccessibility to the premium features shouldn’t make your application unusable.

• Fee per trade

Yet another monetization strategy to consider is charging a fee for transactions within your app.

Top 3 Alternative Applications Compared to Robinhood

Robinhood is not the only successful trading platform, let’s take a look at the others and find out what’s the best stock app in the market.

M1 Finance

M1 Finance is a money management tool that allows its users to manage their finance and investments in a single environment. This application is different from the traditional brokerage apps in that users buy in percentages, not in shares. Users of this app set up how much they want to invest – e.g., 15% in Tesla, and the app automatically withdraws the money from their account by the time the investment is canceled.

Pros:

• one-stop-shop;
• no trading fees;
• automatic in-app money withdraw;
• offers both stocks and EFTs;

Cons:

• not fit for active traders;
• does not offer tax-loss harvesting.

WeBull

WeBull is a US-based app, aimed at day trading, so it shows the market changes in a short time (e.g., day-to-day). The trading platform has streamlined customer loyalty programs, providing their users with bonuses (e.g., free stocks).

Pros:

• sign up bonuses;
• fast setting up an account;
• zero-fee trading;

Cons:

• no in-app money transfers;
• deficient support;
• poor product portfolio.

Vanguard

Vanguard has meager expense fees on their mutual and index funds, which is the main benefit of this platform.

Pros:

• availability of low-cost funds;
• extensive fund base;
• zero-fee trading;

Cons:

• limited analytics and research tools.

Each stock investment app has its pros and cons, so the best stock app is yet to be created.

What Does It Cost to Create a Trading Robinhood-Like App?

As usual – investment platform development cost depends on a wide range of factors. The app complexity, website domain registration, the development team composition, and seniority, and the cost of living in your business location are just some of the factors that influence the final price. Typically, it takes over 2,000 hours to develop a trading platform.

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In addition, the average hourly trading app development cost will vary because of different technologies and the geographic location of the development team.

Tech Stack	Average Rate Worldwide/hr
Node.js	$45-100
React	$35-70
.NET	$40-100
Java	$50-120
Docker	$35-80

The technologies that you will implement will also have a crucial impact on the app development cost. However, investing in advanced technologies pays off in the long term perspective. Using the up-to-date technologies for the development will ensure its convenience and stability that will allure and keep consumers by your side.

How Visartech Can Help in Trading Application Development

Visartech has long-standing expertise in fintech and banking domains. We create a wide range of solutions for banking, investing, financial planning, and more. For instance, our professionals have developed a loan management platform – a secure solution used for money exchange between family members and friends.

Developing a trading platform with Visartech entails the following steps:

• outlining the concept of the trading solution you want so that it meets your business needs
• creating your product specification and estimating the exact cost of a trading app
• going through all stages of the software development, keeping constant communication.

Our professional team makes a point of maintaining continuous support and committing ourselves to long-term cooperation.

Final Words

Businesses have to adopt technology to remain competitive in the modern market, and the finance sphere is no exception. In the case of existing trading businesses, it can be implemented by developing a mobile application to broaden your customer base.

Creating a trading platform requires an in-depth understanding of user needs and internal processes. However, if you choose the right technology partner and do everything correctly, your app will generate income for your users and your business. Surely, a trusted tech partner will help you create your app’s unique value, choose the niche where your platform has a higher chance of succeeding, and select features thoughtfully.

Have an idea of a trading platform? Contact us now for a free consultation!

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Corporate e-learning is a newly sprung industry, yet it is becoming a powerful force changing the ways people learn. In this blog, we provide you with an overview of the top existing solutions for corporate e-learning and talk about key aspects to consider when building your own e-learning platform.

Corporate eLearning Frontier

The future of work has arrived, and its changing demands pose massive challenges to today’s workers. Because of the digital transformation impacting every industry, the hard skills sets needed for jobs are now constantly evolving. On top of that, soft skills, such as critical thinking, synthesis, and analytics are in increasing demand.

Disturbingly, though, these skills are exactly what traditional academia falls short of delivering. While most consumers are familiar with online e-learning models Coursera and Udemy have already made mainstream, the corporate sector needs something different. In a bid to match the workers’ level of literacy to the rising demands of the modern workplace, companies are harnessing e-learning to teach employees the skills they need, when they need them.

Corporate e-learning is truly a new frontier to be explored by businesses and developers of new educational tools and solutions. As the post-industrial society enters the age of lifelong learning, the role of corporate e-learning platforms will be decisive.

Key Reasons to Build a Corporate E-Learning Platform: Benefits & Challenges

Corporations are in dire need of skilled workers, and workers seek opportunities for continuous vocational training to stay competitive.

Benefits of Corporate E-Learning Platforms

While this may seem obvious, let’s take a closer look at the benefits of e-learning for business.

• Accessibility

Learners are no longer tied to physical classrooms – they can access educational content anytime and anywhere.

• Cost-efficiency

E-learning is much cheaper than traditional brick-and-mortar education and unhampered by the need to rent premises, pay professors’ wages, provide catering and course materials.

• Saving time

Corporate e-learning can be easily delivered at the exact moment they need for a particular skill to emerge.

• Employee retention

Employees are more willing to stay loyal to employers that provide them with opportunities for learning and gaining new skills.

• Competitive edge

Almost 70% of Fortune 1000 companies report a lack of skilled workers to act as a major obstacle to success. Eliminating this roadblock by building an online education platform gives an organization a distinct competitive advantage.

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However, a lot of organizations struggle with e-learning adoption.

Challenges of Corporate E-Learning Platforms

The barriers to implementing e-learning management systems for workers include:

• Technical issues

Integrating e-learning platforms with legacy organizational infrastructures and software is one of the major challenges to online e-learning adoption in large enterprises and SME companies.

• Irrelevant course content

Despite the plethora of various e-learning platform types, the content of courses often has no direct relevance to the needs of a particular company. The solution lies in creating online courses by organizations’ experts and in developing unique course content based on internal expertise.

• Lack of course building expertise

Successful e-learning platform development may be hampered by a lack of course-building expertise. Organizations also have to plan for the extra time and resources needed to build a custom online education platform.

• Employee resistance to change

People tend to resist changes, and implementing e-learning in a B2B sector may be difficult because of the lack of acceptance. Another issue is motivation – people accustomed to traditional classroom learning may find it difficult to initiate studying by themselves.

• Lack of human interaction

People who study online often feel deprived of human interactions. They find existing e-learning models too formal and lacking a “human touch”.

Yet, the corporate sector is still finding means of overcoming these challenges, such as:

• Fostering internal expertise;
• Building social e-learning platforms to encourage employees to learn from each other;
• Using gamification techniques and adding interactivity and discussions, etc.

Yet, as challenging as the adoption of e-learning may be, we are witnessing an unprecedented demand for e-learning app development and online education platform development. The stats below will spill some light on the current state of the B2B course market and its future.

Stats & Predictions on Scale of B2B Online Course Market

Globally, the online market for e-learning solutions has already exceeded $250 billion and is expected to reach a staggering $1 trillion by 2027. The key drivers of its growth are:

• Increasing demands for e-learning in healthcare;
• Ongoing digitization of content;
• The rise of cloud-based LMS systems, which are easier to deploy and are more accessible.

The corporate segment of this vast global market is predicted to grow by $37.80 billion by 2021 and a steady CAGR of 13,14%, driven by the plummeting cost of employee training for organizations, and by the proliferation of smart devices making course content available everywhere.

The trends in corporate e-learning that are here to stay include:

The Demand for Instructional Content

Companies need courses that teach their employees practical skills, regardless of the industry and segment. The websites like Masterclass, tailored to the needs of particular organizations, and courses containing hands-on instructions that people could use in their jobs, from learning how to build a website to human genomic,
are in increasing demand.

The Demand for Engaging Learning

Interactivity, social media integration, and gamification are a must these days, as learners call for more fun and engaging learning content. The types of content also have to be diverse and include video and audio materials. The increasing number of course authoring solutions is now facilitating content creation, so we will definitely see the rise of platforms like Lynda.com for corporate learning.

E-Learning Platform Types

If you’re contemplating e-learning solutions development, you need to be aware of the existing types of e-learning platforms. The list below should set you on the right track.

Learning Management Systems (LMS)

LMS are websites for developing, hosting, and managing online courses, and much more. Today, top LMS software solutions are web-based and are packed with features for progress assessment, learning gamification, analytics, etc.

Online Training Platforms

Organizations willing to tap into learning website development, often start with online training platforms. Such platforms are industry and company-specific and are aimed at assessing the skills of job candidates or coaching company employees.

Massive Open Online Courses (MOOCs)

Coursera, Udemy, Udacity, and edX are now household names. These platforms are offering learning courses to everyone. Depending on the complexity, the courses may be free or fee-based. Learning web development, for example, will cost you more than a course on wellness and self-care.

Learning Experience Platform (LXP)

LXPs are platforms for customizable and personalized learning, which often use AI tools to bring users the type of learning tailored to their individual needs. In the B2B sector, platforms like Degreed help companies detect their employees’ knowledge gaps and assist them in employee upskilling and training. Edcast and Cornerstone are other examples of modern LXP platforms.

E-Learning Apps

E-learning apps are popular solutions for microlearning, making learning content accessible in a mobile format and available on the go. A segment of e-learning apps is also targeted at course authors, enabling them to easily create courses from scratch using their mobile phones. Apple Keynote is an example of a mobile presentation and course authoring app for iOS.

Custom E-Learning Platforms

Finally, there are custom e-learning platforms containing everything an organization needs to meet its needs in employee training. Custom software development is an excellent solution for enterprises that want immediate access to job skills exactly when necessary and in the exact format that matches their corporate culture and values.

In our next sections, we will explore the common features of such platforms as well as the examples of custom solutions for corporate e-learning.

Essential Features of Corporate E-Learning Platforms

Building a customized digital platform for learning will involve carefully considering the unique requirements of your organization. The functional features your e-learning platform will ultimately have, will depend on the specifics of your company and its learning needs. Still, if you want to create an e-learning platform that ensures efficient personnel training, some features are absolute must-haves.

The MVP features educational platforms must include are:

• User profile and authentication

Users should be able to register their accounts on the platform and edit their profiles.

• Course pages

Creating online courses will involve setting up course pages containing all the details: description, materials, information about the teacher, and even the gamification elements.

• Dashboards

Both students and teachers should be able to access dashboards with course details: number of hours, progress and attendance reports, etc.

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• Course-building tools

Your corporate platform should include a set of convenient course authoring tools, enabling you to create and broadcast your own unique course content in different models.

• Communication tools

Teachers and students should be able to communicate, comment on what they’ve learned, share knowledge and impressions. Interactivity and peer-to-peer communication will build successful learning and yield impressive results.

• The admin panel

To create a learning website, you need an admin panel that will include website administration tools, tools for course evaluation and approval, reporting tools, and admin dashboards, etc.

There are also some essential non-functional requirements, such as:

• Accessibility

Employees should be able to access your e-learning platforms through their mobile devices. Your platform should also run on both iOS and Android.

• UI/UX

A top-notch user experience and a convenient interface will make online learning enjoyable, boost employee engagement, and bring better learning outcomes.

• Integration with other systems

Your e-learning platform should integrate with the financial, HR, and product databases of your company.

• Scalability

It’s always best to plan for an increasing amount of learners and courses in advance, to avoid bottlenecks and downtime in the future. Make sure your system has all the necessary infrastructure resources to be able to scale on-demand and ensure excellent performance.

The Impressive Value of 3D Simulations in Educational Platforms

If you’re thinking about how to create an online learning platform for your company, you want to keep abreast of the latest trends in learning technology. A growing trend gaining increased popularity in corporate training is 3D simulation. Corporate educators are now teaching practical skills to employees using immersive experiences.

Simulation-based learning has proved highly effective in industries like:

• Healthcare
• Mining
• Manufacturing
• Construction
• Defense, and any other business domains requiring practical hands-on skills.

Using 3D simulation and interactive apps in corporate e-learning has a range of tangible benefits:

• It is completely risk-free
• It ensures knowledge retention
• It helps users learn from real-life experiences
• It saves costs and brings quick results
• It provides the possibility for instant evaluation and assessment

These obvious advantages make simulation learning highly attractive for companies, and are surely worth considering if you want to create your own e-learning website.

Let’s now take a closer look at the educational platform examples featuring the best approaches, practices, and e-learning models in corporate learning.

Top Corporate E-learning Solutions

In one of the previous sections, we have listed the most common education platforms types. Below are examples of successful market players that are currently using custom-build edtech platforms. Most of the companies listed below are using 3D simulations to ensure effective immersive learning. We have chosen the automotive sector players to demonstrate how enterprises with complex production cycles can successfully leverage digital learning capabilities.

Volvo

Volvo runs a Volvo eLearning online portal granting its 50,000 employees access to online learning content anytime anywhere. It’s also one of the pioneers in using 3D simulation for training. The company uses Gomo course authoring tools and obviously knows how to build a great course authoring strategy for the automotive industry.

Honda

Honda has been using edtech to bring knowledge via Honda E-Learning to its 40,000 employees based in different countries for more than a decade. The company has started off by creating a centralized knowledge repository for its employees and ensuring that everyone could learn within working hours. It has been continuously proving its dedication to educating workers about manufacturing. In 2015, the company created a manufacturing video-game build to increase awareness about manufacturing careers in the automotive sector.

Renault

Renault is one of the companies, dedicated to not only coaching its workers but also to bringing training services to over 80 firms in the automotive industry. The e-learning portal or the Renault Business Academy features courses on IT, Manufacturing, Leadership, Digital Transformation, Risk Management, Finance, and more. The company has been using 3D simulators for over 7 years now, helping its designers and engineers build better products.

Tesla

The leading player on the market of electric cars, Tesla also aims to dominate the e-learning scene. Its e-learning programs target not only existing employees but also students considering careers at Tesla and Tesla job applicants. For the automotive industry training, the company uses a blended approach of in-class study, hands-on training, and self-paced learning. The company places emphasis on using microlearning to integrate training into everyday work experiences.

Nissan

Nissan is one of the companies that value lifelong learning and do all it takes to bring this concept to life. The company uses a combination of learning approaches in its Nissan Global Training Center (GTC) – from classroom-style instructions to online learning via the Nissan Academy portal. The company uses visualization techniques to teach practical skills to its employees.

Volkswagen

One of the brands with its own robust learning center, Volkswagen Group, combines learning via an e-learning portal with other types of employee training. The company uses online courses to replace in-person instructions and has already developed over 30 simulation courses for employees. Volkswagen is also one of the companies pioneering the use of VR in the automotive industry. Its training center called Volkswagen Digital Reality Hub features versatile knowledge bases, meeting rooms, and training programs.

BMW

BMW Group is also one of the companies using an e-learning platform called BMW Group Knowledge Enabling Platform to meet the learning needs of its employees across the globe. It is also one of the earliest adopters of immersive technologies and has been integrating them into its workflows since the 90s. BMW is implementing a training system based on virtual reality to train employees in areas like HR, customer service, and assembly line operations. The company also creates virtual representations of its car models using Unreal Engine 4.

Other key players on the automotive scene, including Toyota, Jaguar, Audi, Ford, and Mercedes-Benz are also reaping the benefits of online learning and using 3D simulations to provide their employees with practical, just-in-time job skills. With the proliferation of immersive technologies and broadband Internet, we can also predict this trend to be successfully adopted by market players outside the automotive sector.

Security Aspects of Corporate E-learning Platforms

A corporate e-learning platform containing a plethora of employee personal data, unique content, and company expert knowledge is an attractive target for cybercriminals. Hence, e-learning security should by no means be overlooked, if you plan on building an ed-tech solution. The corporate e-learning platform security aspects include:

• Authenticity: ensuring that the system is available to authorized users only.
• Access control: making sure that no intruders access the platform’s learning course content and users’ profiles.
• Confidentiality: preventing information leakage and disclosure of users’ personal data.
• Integrity: preventing third parties from tampering with the platform’s, or data from being corrupted through technical disruptions.
• Availability: granting users non disrupted access to the portal and its services.
• Non-repudiation: making sure that the validity of certain actions and data cannot be questioned. For example, if a user sends a message, he or she should not be able to deny the responsibility for sending it.

These aspects call for a reliable security protection system, which should include:

• Strong authentication and verification features;
• AI tools for detecting unknown threats and suspicious activity in real-time;
• Encryption techniques to ensure secure communication between the platform users.
• Distributed firewall protection with access rights control capabilities.

It’s also a good idea to impose security policies controlling who, when, and under what circumstances has the right to move, copy or change the course content and learning assets. The growing trend also lies in using biometric authentication to protect users’ profiles from hijacks and identity theft.

5 Tips to Get the Most Value Out of Corporate E-Learning Project

Making your e-learning initiative work will require some preparation and a carefully planned implementation strategy. Below are some useful tips that will help you get the most value out of your e-learning project.

#1. Define Your Goals

Align your e-learning strategy to your key company goals. For example, if the fulfillment of nearest company goals requires advanced marketing & sales training, focus on building the corresponding courses first.

#2. Decide on the Best LMS Platform

You don’t necessarily need to use top LMS software packed with features you will rarely use. If you’re having difficulties choosing the right system, contact companies offering free LMS consulting services.

Yet, the best e-learning platforms are custom-made. The automotive companies using custom-built LMS are illustrative examples of how enterprises with complex processes are successfully leveraging tailored edtech systems built to meet their unique employee training and education needs.

If you plan to develop a custom LMS, choose a reliable contractor who knows how to build an online learning platform. Reliability and proven expertise are a must; also, make sure your tech partner provides consistent support for the platform users when they need it.

#3. Foster Internal

Learn how to create an e-learning course or assign a person who will be responsible for course creation and content. Collaborate with experts within your company to build courses based on your unique expertise.

#4. Run a Pilot

The cost of e-learning initiatives for enterprises is quite high, so before you start implementing a full-scaled learning platform it’s best to run a pilot project to see how it goes. Don’t forget to collect metrics and evaluate its success.

If you want to see how an e-learning system will propel your corporate education efforts without getting into heavy expenses, building an MVP might be the best choice. Testing an MVP for a proof of concept will give you many insights and enable you to make the necessary adjustments.

#5. Communicate the Value of E-learning to Your Employees

Treat employee resistance to change as something normal, but do communicate the value of new learning initiatives. Assign a Learning Coordinator to help employees adjust to a new learning model and get used to new training tools.

How Much Does It Cost to Create a Custom E-Learning Product?

If you have your mindset on building your own learning platform, create a budget for your e-learning software development needs.

Your expenses will largely depend on the complexity of your solution, so think carefully about your learning priorities and goals before you talk to software developers. If you need to build a learning website with basic features, your software development costs are likely to be considerably lower than the cost of building a powerful learning management platform supporting a wide range of content formats, and integrations.

Read more: How to Save Money on a Web Project for Businesses

Learn how to select the best tech stack for your web application

The technologies that you will implement will also have a decisive impact on the e-learning development costs.

While the web development costs of a simplistic web learning platform may vary within a range of $15,000 – $25,000, the costs of such a web learning solution with integrated technologies like AR/VR will range within $25,000 – $35,000.

How Visartech Can Help to Develop eLearning Software?

At Visartech we know how to create an e-learning website for your corporate learning needs. We also have proven experience in building complex interactive e-learning platforms featuring content libraries, virtual classrooms, and immersive VR experiences.

Our product portfolio includes educational games and 3D model visualizations for academic courses. We use technologies like Unity, React, A-Frame, Firebase, Python, Babylon.js, and AWS (Amazon Web Services) to build the most versatile and sophisticated e-learning tools and services.

Creating an e-learning platform with Visartech involves three logical steps:

• We start off by helping you clearly outline how you want your e-learning platform to propel your business goals.
• Then we move on to the next stage – creating a specification for your product and the estimation of the exact costs of e-learning development.
• We then go through all the stages of the software development process – from building an MVP to the release of a final e-learning platform version.

Subsequently, we are dedicated to continuous platform support, maintenance and upgrades and committed to long-term cooperation.

The Bottom Line

Implementing E-learning involves many benefits for enterprises and organizations: apart from the convenience and availability, e-learning cost is also much lower than the cost of traditional schoolroom training. Yet, consumer-oriented e-learning solutions often fall short of meeting the companies’ training needs, and the functionality of out-of-the-box LMS systems is either limited or redundant.

Building a custom e-learning platform, on the other hand, provides an organization with a perfect toolset tailored to its unique educational needs. In this regard, partnering with a reliable software development company will help businesses create memorable learning experiences, boost employee engagement and maximize learning outcomes.

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With digital transformation assuming a faster pace, loan management software is gaining wider adoption. Faster and more efficient than the legacy lending system, loan software is helping lenders to streamline and automate loan origination and processing. In this blog, we will provide a comprehensive overview of existing loan systems, and outline their advantages and approximate app development costs.

What is a Loan Management System?

A loan management system is a digital platform that helps automate every stage of the loan lifecycle, from application to closing. The traditional loan management process is meticulous, time-consuming, and requires collecting and verifying information about applicants, their trustworthiness, and their credibility. Further, the process involves calculating interest rates and supervising payments. A loan servicing software not only automates these procedures but also provides useful analytics and insights for lenders and borrowers.

The stage for the growth of the lending software market has been set by the ongoing digitization of businesses, and stricter regulatory requirements forcing financial companies to build loan software to handle growing workloads and meet regulatory challenges. The market for loan servicing systems is expected to reach $4,812 million by 2028 and is currently growing at a steady CAGR of 12,19%.

When it comes to loan software market share by region, North America is leaving other countries far behind. The staggering growth of the loan solution market in this world region is driven to a large extent by the state of the US mortgage market, now fully recovered from the crisis of 2007/8. With gross mortgage value reaching $83.3 billion in 2021, investing in mortgage app development makes perfect sense for lenders based in the United States.

The second-largest market share in loan software development belongs to the EU, where the GDPR law places high demands on data handling standards. In European regions not covered by GDPR, such as Eastern Europe, Russia, and Turkey, loan digitization has also assumed a faster pace.

How Loan Management Software Improves The Lending Experience

The process of loan assignment, calculation, and management is quite complex. As such, errors may occur at every stage: from wrongly accessing the credibility of a company or individual, to calculation and reporting. Moreover, the entire loan process involves the work of several employees and consumes a lot of effort. Failure to comply with numerous regulations not only leads to fines and restrictions but also has a negative impact on the company’s reputation. On top of that, the traditional lending process is deemed boring and tiresome by younger clients. As such, millennials and Gen Z are more attracted to companies willing to offer digital-only experiences.

Admittedly, smart lending software leveraging robotic process automation and big data is capable of coping with a lot of routine tasks faster than human employees, and with more accuracy.

The benefits of loan servicing software for lenders include:

• Eliminating human error

It’s no secret, calculations are something that algorithms handle better than us, humans. In a lending system, there are just too many variables, which is why it is error-prone. The best loan servicing software, however, is created to completely rule out any errors, which is, undoubtedly, beneficial from every standpoint.

• Preventing delays of payment

Not being able to collect a debt is something that most lenders are especially wary of. However, if they leverage a traditional loan management approach, they may not see it coming. Loan servicing systems, on the other hand, integrate analytic modules capable of detecting even the most subtle fluctuations in clients’ credibility and preventing payment delays in a timely manner.

• Saving time

Loan management requires a great level of meticulousness and attention to detail. As a rule, a full-fledged team is required to deal with every aspect of a loan process. Needless to say, loan management carried out manually and based on paperwork takes up a lot of time. A digital lending system, on the other hand, automates the routines and enables your team to dedicate time to other important tasks.

• Automated reporting

Automated report generation is another invaluable feature offered by a digital loan servicing platform. Accounting, tax reports, and invoices are often requested by regulatory bodies, borrowers and investors. These high urgency reports should be provided on demand, and contain information, which is 100% accurate. Loan tracking software enables lenders to quickly generate reports of different types and submit them urgently, in the required formats.

• Increased revenue

This stems from all of the above: an automated loan processing system enables lenders to process more applications, assign and manage more loans, and see them all the way through closing all while detecting scams and preventing delays. The staff is free to oversee the process and focus on client relationships and looking for new business opportunities. This enables financial companies to gain a distinct competitive edge and to increase revenue.

Most Common Loan Types Managed by Loan Apps

If you’re contemplating building a digital lending solution, it makes sense to find out about the existing types of loan servicing software for private lenders and large organizations.

All in all, loan management systems available today fall into a number of categories:

1. Mortgage financing software

The mortgage apps are targeted to house buyers applying for loans. Free loan servicing software for mortgages is usually provided by established banks, although NBFOs may offer mortgage loans as well. There is also a category of apps simplifying the mortgage application process and refinancing mortgages.

2. Retail loan software

This software is targeted at helping customers obtain loans for all kinds of purchases – from consumer electronics to cars and real estate. Credit cards and loans against property also fall into this category. Retail lending is, in essence, an umbrella term for all individual loan types.

3. Student loan servicing software

A vast segment of personal loan software is dedicated to student loans. This type of loan servicing software helps manage financial relationships between students and educational establishments and is perfect for a loan application, calculation, tracking, reporting, and management.

4. Business loans

A business loan is used to finance investments into a startup company, or in the business development of an existing one. Companies and entrepreneurs can get a business loan from banks, non-bank financial companies, and online lenders. There’s a segment of loan servicing software for private lenders dedicated to peer-to-peer lending as well.

Top Features of Loan Management Software

In essence, loan software for lenders falls into three main categories.

Loan Accounting Software

Loan management comprises several important steps, and a loan calculator is one of them. Estimating the amounts of down payments and regular payments can be tricky, and this is where loan accounting software can lend a helping hand.

Online loan application software: There is also a segment of software dedicated solely to generating loan applications. Applying for a loan requires collecting and submitting lots of documents and collateral materials for verification and credibility assessment. Online loan application software enables businesses and individuals to easily fill in and submit applications for originating loans and facilitates the verification process for financial organizations.

Loan Processing Systems

These are the systems automating and simplifying loan operations such as calculating interests, fees, and commissions, loan rescheduling, reimbursements, and repayments.

Needless to say, there are comprehensive loan management platforms combining loan application, calculation, and management capabilities. Let’s now explore the must-have features of loan management systems for lenders.

1. Accessibility

An organization looking to build loan software may not have enough on-premise infrastructure capacities to ensure its non-disruptive operation, updates, and support. Scaling during peak workloads and handling an increase in the number of users and subscriptions may also be quite challenging. Using cloud infrastructure is best to ensure optimal scalability and availability.

2. Servicing different loan types

The more types of loans your money lending software is capable of servicing, the better. Lending applications that have a wide range of use cases, will surely attract more users than apps targeting only one specific loan type. A software to create loan estimate, for example, may have a broad range of applications from student loan calculations to estimating business loans and mortgages.

3. Centralized data storage

Every stage of a loan process involves working with customer data. The best loan servicing software stores this data in centralized storage accessible during every loan processing stage. A legacy loan management system, on the other hand, uses a siloed approach to data storage, which makes loan processing more laborious and lengthy.

4. Integrated credit assessment capabilities

Modern loan servicing software for private lenders should be able to instantly connect with credit bureaus and any other bodies responsible for credibility assessment. Such platforms should receive regular credit data updates and leverage big data analytics to assess the trustworthiness of applicants. The client’s social media activity, for example, can be a valid source of alternative assessment of credibility.

5. Automation of routine processes

Using robotic process automation to streamline simple rule-based processes is another must-have feature of a loan management platform. Automation accelerates loan origination and processing and accounts for increasing client satisfaction. On top of that, it helps to avoid human error.

6. In-built analytic modules

Leveraging AI and big data is another hallmark of excellent loan software for lenders. Not only does it help to generate reports but also enables companies to evaluate market trends, detect patterns in customer behavior and come up with new products and offerings.

7. Third-party integration

Another feature that most organizations find especially attractive in a loan processing system, is its capability to integrate with other enterprise software. ERP and CRM solutions are capable of enriching the lending system with data and insights. Systems integrating lending modules with software for remote sales personnel are also enjoying high popularity among lenders.

8. Security

Finance company software works with classified and highly sensitive data, and for both lenders and customers, security is a matter of paramount importance. An excellent lending system should possess advanced security capabilities, and ensure the highest level of customer, data, and network protection.

Read also: How to Save Money on a Web Project for Businesses

Learn how to select the best tech stack for your web application

Top 5 Loan Managing Software

Surely, the description of features and capabilities would not be illustrative without concrete examples. Below are some of the top-rated loan management software solutions for your consideration.

1. Borrow Money

Borrow Money is a personal small loan software aimed at providing payday loans – quick loans for covering emergency needs and purchases. The app is one of the top-rated personal loan solutions on Google Play and is fast, easy to use, and completely free. The testimonials are mostly positive, however, some users report a lack of transparency and little or no information about lenders.

2. TurnKey Lender

Powered by AI and targeted at business lenders, this app is truly turnkey software. The range of use cases is impressive: business loan origination, investor/borrower relations management, debt collection, and peer-to-peer lending to name a few. TurnKey lender has mostly positive testimonials; cloud deployment, accessibility, and easy setup seem to especially appeal to users. The cons include lack of out-of-the-box integrations with accounting software, limited reporting options, and some tech support issues (slow response).

3. Rocket Mortgage

Rocket Mortgage is a solution for originating mortgage loans. This app enables customers to apply for home loans online, and have instant access to all of their loan documents and tax forms. This software has a lot of positive testimonials, works on most devices and platforms. Some bugs have been reported, but the company claims to have taken measures to prevent them.

4. AES Student Loans

As the name implies, this app is for student loans. The digital loan solution is targeted specifically at managing tuition loans, acсessing documents, scheduling payments, checking balances, and creating loan repayment plans. The app has been rated 4/7 on the App store, and the reviews are mostly positive. All errors and malfunctions have been eliminated in 2020, according to testimonials, however, the app is available for iOS users only.

5. PayMyParents

At Visartech, we have used our loan application development expertise in loan software development to build a personal loan management platform for transferring money between friends and family members. PayMyParents is easy to use, has an attractive interface, and enables users to easily track their money transfers. This peer-to-peer lending app received broad media coverage in Australia.

How to Select a Loan Management Software

Navigating among a plethora of loan management solutions can be a tricky task. However, there are a few guidelines companies should follow when selecting the software for loan management.

Your Business Requirements

The needs of SMB companies are inherently different from those of the established enterprises. When selecting a loan management solution or thinking about bespoke loan software development, consider the type of your business and the current business goals. For example, some companies will prioritize loan diversity and base their decision on the variety of use cases and loan types. Others will go for a wide range of loan repayment options or versatile customization opportunities.

User Requirements

Further, you will strike a balance between a company strategy and the needs of your users. It is especially important to consider the needs of every group of users and stakeholders inside your company. This will give you solid info to fall back on when selecting the software for loan management.

Accessibility & Availability

Knowing the needs of your customers will help you decide on the way you want your loan software to be deployed and delivered. The SaaS model is currently the most frequent choice since it enables companies to use cloud infrastructure resources to power application backend and ensure optimal performance. Also, think about making your app accessible from a wide range of mobile devices and operating systems.

How Much Does It Cost to Make a Loan Management Solution

Surely, in many cases, out-of-the-box solutions won’t apply, so you may be faced with the question of creating your own application for loan management. If you plan to develop your solution in-house, the overall cost will include hiring and onboarding employees with relevant expertise and the cost of development tools and infrastructure resources. Admittedly, the expenses will be heavier than in the case of hiring a product development agency, but this approach may be justified if you want to keep all the expertise in-house and plan on developing more financing software as part of your business strategy.

In other cases, it makes sense to partner with a reputable software development company to power your development company. The loan application development costs will start at around $40.000 (check more details below), but will ultimately depend upon the complexity of the loan management solution that you plan to develop.

Just to be precise, our business analysts have estimated the loan management product containing the basic functionality.

First, let’s think about what major app development parts go into such software development. In general, it includes:

• landing page development,
• frontend development,
• backend development.

Various engineering teams are responsible for the implementation of these app development stages: design team, React team, and Node.js development team. The distribution depends on the core technology stack utilized for the app development.

What Is the Structure of the Involved App Development Teams?

The backend part of app development is like creating the brain of a loan application. So it requires solid technology specifically for this responsible task. Node.js is a perfect JavaScript run-time environment for this purpose.

The structure of a Node.js development team includes:

• Project Manager
• Node.js Lead
• Node.js Developers
• DevOps Engineer
• Quality Assurance Engineers

To develop the landing page and the frontend part of a loan application, the best option is to involve the Design team and the React team.

The design team. is responsible for the appearance, layout, and possibly content of the website of an app. React is a JavaScript library for building user interfaces that implements the design results into the website or an app.

The structure of a design team includes:

• Project Manager
• Web Design Lead
• Web Designers

The structure of a React development team includes:

• Project Manager
• React Lead
• React Developers
• Quality Assurance Engineers

Each specialist contributes to the overall appearance, stability, and performance of a loan management app.

Now let’s see what goes into the loan application cost starting from how the app will look like to the way it functions.

Landing Page Development for a Loan Application

The primary focus while presenting the loan services lies in creating a landing page that will outline the details of the loan services and distinguish all crucial conditions for getting a loan to customers.

Here is what goes into the landing page development.

Tasks/Features	Optimistic, days	Pessimistic, days
UX/UI design	5	7
Website development	5	10
Deployment	2	3
Total	12	20

If you take 8 hours that a working day consists of, the landing page time in hours would be from 96 to 160 development hours.

Backend Development Cost of a Loan Application

The backend part is the main part of a loan app that drives its core functionality and helps people to actually receive loans automatically which also includes getting through verification, gathering the necessary documents, etc.

Below we’re gonna show you the rough estimation of the minimum and maximum amount of time required for the backend development of a loan management application.

Tasks/Features	Optimistic, days	Pessimistic, days
Infrastructure setup	4	6
CI/CD	3	4
Authentication	4	6
User logic	5	7
Loans logic	6	8
Agreements logic	4	6
Synchronization with selected banks	7	10
Total	33	47

The total development hours required for the backend development of a loan management application range from 264 to 376.

Frontend Development Cost of a Loan Application

The same approach in estimation relates to frontend development of a loan management app.

Tasks/Features	Optimistic, days	Pessimistic, days
UX/UI design	10	12
Sign-in/sign up	4	5
Main dashboard	4	6
Loan creation	3	4
Smart contracts	4	6
Bank information	3	4
Loans management	5	7
User profile	3	4
Notifications	2	3
CI/CD	3	4
Deployment	2	3
Total	43	58

Translating it into the working hours, the required time for the frontend development ranges from 344 to 464 development hours.

The development hourly rates of various software development companies worldwide range from $50 to $120 and more.

So, if we multiply the rough estimation, made by our business analysts, to the global app development hourly rates, we will receive the following loan application price range:

• Landing page costs from $4800 to $19,200.
• The loan app backend development costs from $13,200 to $45,120.
• The loan app frontend development costs from $17,200 to $55,680.

So, how much does a loan application cost?

You can already guess that the total loan management app development cost will take from $35,200 to $120,000 in USD currency.

As for the total development time, it may take around 2-4 months with the development of the aforementioned functionality.

By the way, loan applications are not only used in the financial sphere but ultimately become a widespread way to help users receive the services of any company much faster due to internal loan programs for the clients. The automated process of giving such a solution for your clients may greatly speed up your company’s growth in terms of a growing customer base and greater customer loyalty.

When you trust your clients, they trust you!

Conclusion

The requirements that the market currently places on loan products are quite high: quick loan application processing, flexibility, scalability, enhanced security, and regulatory compliance. A good loan management system, however, can is capable of handling these demands and helping companies reach their objectives.

At Visartech we are proficient at creating solutions for banking and fintech, including the system for loan servicing and management.

Looking for a tech partner to bring your ideas to life? Contact us now for a free consultation!

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In this article, we uncover how fintech is reshaping SME lending and how alternative digital lending platforms are filling the gaps uncovered by traditional banks.

Small and medium enterprises are in constant need of additional funding. They rely heavily on credit lines, business loans, and financial leases as the main sources of funds. Companies use this money in order to:

1. Invest in assets
2. Hire new employees and pay for employee training
3. Launch new products and services
4. Pay workers’ salaries
5. Explore opportunities for new business and more.

Needless to say, since the needs may arise urgently, SMEs need instant access to additional funding.

How Banks Work (Or Not) With SME

The traditional banking model required borrowers to pay a physical visit to an office and fill out numerous application forms.

As of today, many banks are launching fintech services and offering SME lenders online lending application processing, available anytime and from anywhere. The banks that failed to introduce online lending opportunities for businesses, saw a noticeable decrease in the number of SME clients during the pandemic.

Yet, in some cases, a bank loan is not a solution, and traditional banks have a number of downsides compared to alternative lenders.

• Long loan origination time

Banks need to run a complex loan application assessment process to evaluate the borrower’s credibility and perform all the necessary verifications. This process is too lengthy for SME lending that needs instant access to funds.

• Hidden costs involved

Too often, a bank loan involves many hidden costs. Loan servicing and additional services like loan restructuring may involve expenses that borrowers are originally unaware of.

• Aggressive debt collection practices

If a borrower fails to pay the loan on time, banks tend to resort to penalties and aggressive loan restructuring practices – something, SME lenders find risky and, hence, unattractive.

• Strict loan security requirements

The banks’ security requirements are sometimes too strict for SME companies to handle. For example, a bank may require a borrower to ensure that a loan is secured against a family residence, which is one of the reasons why business owners are considering non-banks and alternative lending platforms.

Alternative Lending on the Market

Alternative lending is a growing industry these days. By ‘alternative’, we mean any type of money loan offered outside of traditional banking institutions. The alternative lending industry is actively growing and is predicted to soon exceed $334 million expanding at a CAGR of 4.7%.

Alternative lending has assumed many forms. As of today, the most popular alternative lending models are:

• Crowdlending

Also known as crowdfunding, this is currently its largest and most popular alternative lending segment, accounting for $248,7 million value of transactions. As the name implies, this model involves getting a large number of individuals to invest in a business. This model is especially attractive for startup companies, as opposed to established SMEs.

• Peer-to-peer lending

Peer-to-peer lending involves the use of digital lending platforms and marketplaces connecting borrowers with investors. P2P platforms monetize on commissions and fees and use credit scores for the loan assignment process.

• Direct lending from non-banking institutions

Non-banking financial institutions are financial companies that do not have full banking licenses. Investment companies, insurance companies, loan, and mortgage companies, as well as fintech infrastructure companies, are examples of non-banks.

How Digitization Changes Lending

The emergence of alternative lending models would have been impossible without the automation and acceleration of loan origination and servicing processes. Modern fintech software for lending leverages technologies like big data analytics, AI, machine learning, and robotic process automation (RPA) to process loan applications, and automate routine rule-based procedures.

Recently, the emergence of fintech infrastructure companies has made it easier for non-banks to enter the alternative lending scene and helped to accelerate lending software development. This, as well as the growing market demand for fast and easily accessible SME lending, has set the stage for the emergence of many non-conventional lending solutions.

The recently-emerged types of loans and alternative lending products for small businesses include:

• Credit lines
• Installment loans
• Microloans
• Merchant cash advances
• Invoice factoring
• Bridge loans
• Equipment financing, and more.

The ease of loan origination, transparency, absence of hidden costs, and flexible debt collection policies is what make alternative loans so popular among SME and small business owners.

Top 5 Alternative Lending Platforms

If you’re considering lending software development and want to build an attractive platform for SME lending, looking at the existing solutions could set you on the right track. Here’s an overview of the top alternative lending tools that are currently disrupting the ways SME companies and private lenders are receiving lending services.

1. LendingClub

LendingClub is one of the best-known platforms for P2P lending and also the top-rated one. The platform connects borrowers and lenders and makes sure both user categories meet the optimal criteria for these roles. The borrower’s credit score, for example, should be at least 600 to apply for a loan. The maximum loan you can get is $40,000.

On the downside, borrowers can only change a loan repayment term once, and there’s a fee for loan origination. There’s also no mobile app available for loan management, although the loan application procedure is 100% digitized.

2. Upstart

Created by former Google employees, Upstart boasts to be using both alternative and traditional criteria for AI-driven loan application assessment. Instead of relying solely on the FICO scores, the platform will take into account the borrower’s job history and education. The maximum amount of money users can borrow is $50 000. The minimal credit score is 580, although Upstart may originate a loan for users with no borrowing background.

The cons are similar to LendingClub – no app to manage a loan, the limited choice to repayment terms, and a fee for loan origination.

3. SoFi

SoFi is a non-bank company, which works a lot like how a bank works, but with a substantial difference. Customers can open hybrid checking and savings accounts, apply for personal and student loans, and track monthly spendings. For small businesses, SoFi Lantern offers a range of credit products targeting almost any type of business needs in cooperation with multiple lending providers.

SoFi doesn’t charge any fees for personal loans and offers a mobile app for managing loans, earnings, and savings. On the downside, loan approval takes a long time, which could be a turn-off for many customers.

4. Prosper

A peer-to-peer lending platform for lenders with good credit history, Prosper is one of the oldest lending platforms on the market and has served thousands of clients over the past decade. It’s also one of the leaders in crowdlending. The required credit score is not disclosed, but it is reported to be 640.

The platforms offer an opportunity to apply for a joint loan, and a minimal investments amount is only $25%. On the downside, obtaining and servicing loans involves many fees and there are only two loan refinancing terms available.

5. Avant

Avant is believed to be the best option for bad and fair credit and flexible loan options. The funds that lenders apply for with this lending platform can be available as early as the next day. The platform has received excellent feedback for transparency: soft credit checks are available so that the borrowers can plan their budgets, and all fees and rates are explained in detail. The funds are available the next day, which is an indisputable advantage.

On the downside, the platform charges large loan origination fees, and there is no joint loan option. There’s also no direct payment of consolidated credit, a feature offered by most of the Avant competitors.

As you can see, these P2P lending platforms have both advantages and downsides, so there will always be a market demand for a more balanced solution. Looking at the pros and cons of the already existing loan applications will help you evaluate the optimal functional and non-functional feature set for your own P2P lending platform.

Things to Know Before Considering P2P Lending Software Development

If you’re contemplating building peer-to-peer lending software, below are some of the key things you should consider before you start creating alternative lending products.

P2P lending software advantages for borrowers:

• Faster and easier loan origination
• Flexible funding and spending options
• Lower loan interest rates
• Lower credibility requirements

P2P lending software advantages for investors:

• Better earning capabilities compared to other lending methods
• Broaden the range of available investing options
• Flexible amounts of investments

The role of a platform:

It is also necessary to understand the role that a lending platform plays in the process of P2P loan origination and servicing. The platform serves to connect borrowers and investors, assesses credit risks for investors, evaluates the borrowers’ credibility, and enables lenders to conduct payments through the platform.

At the same time, the P2P platforms bear no risks and have no control over the profits (or financial losses) of investors.

Some of the key aspects to take into account before the development of lending software include:

• Industry laws and regulations

Fintech is one of the most regulated industries, so you must comply with a number of laws that ensure customer data protection. Adherence to these laws with impact your app design and user journey.

• Secure user verification and authentication

It is important that the loan applicants are verified users with proven identities. The process of verification should involve confirming and verifying users’ accounts, taxing, contact, and income details.

• Risk assessment

To ensure minimum risks, borrowers should meet the following criteria:

1. FICO score of at least 560
2. At least one account in a bank
3. Low debt-to-income ratio
4. Good credit history

• Usability and Design

Great user experience could propel you ahead of competitors, so make sure your app has all it takes to ensure seamless navigation and quick loan application and processing. A mobile app version is also something most users will definitely appreciate.

• Important partnerships

Fintech solutions development will require you to enter a number of strategic partnerships. Most importantly, your success will depend on your banking and your software development partners, so make sure you collaborate only with trusted and reliable experts.

How Can You Make Money With Peer-to-Peer Lending?

Bearing no risks and acting as mediators between parties, how do P2P lending platforms generate revenue? Normally, P2P lenders will charge the borrowers fees for loan origination and servicing. There are two distinct fee categories:

• Advance fees

These types of fees are charged once, immediately after a loan has been approved. The fees usually range between 1% and 6%, although some firms charge no upfront fees for loan origination. The fee amount is normally not disclosed until the loan approval is complete.

• Ongoing fees

These fees are charged over the course of an entire loan servicing term. The platform usually capitalizes on margins charged on top of interest rates of regular payments. For example, if a borrower makes a payment with a 6,5% interest rate, the platform’s margin may equal 1,5%.

What is the Future of P2P Lending?

P2P lending is one of the most fast-developing industries these days. Driven by the technological advancements of the post-industrial era and the gap between market demand for loans and banks’ limited capabilities to serve all user categories, the market for P2P lending is estimated to reach $558.9 billion by 2027.

The small business lending segment is predicted to play a significant part in the development of peer-to-peer lending in years to come. This is largely due to the growing number of small businesses in the Asia Pacific region, and their need to attract funds in order to thrive and develop.

How Visartech Can Help to Develop Lending Software

At Visartech we are already familiar with alternative lending software development. Our product portfolio includes an award-winning loan management app aimed at helping users lend and borrow money from their close friends and family members.

We start off by helping you refine your product idea and create a detailed product specification listing all the requirements of your unique app. We will also offer you a range of services you can choose from. We can start with business engineering and help you define a roadmap for your business, proceed with building an MVP and take you through all the stages of software product development.

Our technology stack includes Python, MySql, and AWS cloud for building secure solutions for fintech. At Visartech we focus on multiplatform development, so the platforms we build will be available on mobile operating systems like iOS, Android, and Windows, and desktop systems such as Linux, Mac, and Microsoft Windows OS.

Read also: How to Save Money on a Web Project for Businesses

Learn how to select the best tech stack for your web application

We choose Angular and React.Js for the front-end development of web and mobile applications (respectively) delivering a smooth user experience similar to that of a desktop app. Used in combination with the Electron library, Angular and React are also a perfect fit for building cross-platform and standalone apps.

Our frameworks of choice for mobile development are React Native, Xamarine, Flutter, Ionic, and Framework 7. You can learn more about our tech stack and our development philosophy in our article on the Visartech technology stack.

Core Features of P2P Lending Product Like LendingClub

To enjoy market success, a P2P lending platform should offer something distinctly unique, that would set it apart from other platforms. There are app features, however, which are absolute must-haves for all types of lending platforms. Below is a checklist of basic features that should be included in a lending software product like LendingClub.

Loan Calculator

The loan calculator feature enables users to see how much money they would have to spend on monthly loan payments and enables them to plan their expenses in advance.

Lender/Borrower matching

In SME lending apps, this feature should match borrowers’ loan applications with lenders willing to invest in their businesses and projects.

Document Scanner

A loan application involves submitting a lot of documents, so make sure your app includes a built-in document scanner.

Credit Score

The borrower’s credit score will be the main thing that lenders pay attention to, as they pick the potential areas for investments, so make sure you include it in a basic feature set.

Loan Origination

The loan origination feature should be as convenient and quick to access as possible.

Auto Investment

This feature uses artificial intelligence to eliminate the guesswork and automatically picks the most interesting investment opportunities for lenders.

How Much Does It Cost to Create a Custom P2P Product?

The app development costs of building a P2P lending platform will depend on the overall complexity of your solution as well as on the development timeline. Yet, there are main factors that influence the cost such as:

• the development team structure and expertise;
• chosen development tech stack;
• the number and complexity of app features;
• type of selected platform (mobile or standalone);
• the geographic location of the development team.

Generally, the app development cost really depends on the location of your development team. However, the professional expertise rate varies from $50 to $120 per hour.

To get a complete understanding of P2P product costs, let’s get through the app development stages and features in detail on the example of the Lending Club prototype.

The frontend development of the loan software involves the following tasks and features:

Tasks/Features	Optimistic, Hours	Pessimistic, Hours	Time, hours
Static Website	40	56	96
Login/Signup	8	16	24
Profile	24	32	56
Main dashboard	32	40	72
Banks connection	16	24	40
Credit score check	16	24	40
Documents upload	24	32	56
Loans management	32	40	72
Social features	16	24	40
Deploy	16	24	40
Total	224	312	536

Clearly, the frontend part of such a platform might take from 224 to 312 hours of app development. Consequently, if you take the most common rate of $50 per hour, the frontend development cost of such a lending platform will be from $11,200 to $15,600.

Project documentation, infrastructure, and backend development are the other parts that go into the P2P app development process. Let’s see the overall estimation of them all.

Tasks/Features	Optimistic, Hours	Pessimistic, Hours	Time, hours
Project Documentation	152	216	368
Infrastructure	80	120	200
Backend	344	472	816

Taking the rate of $50 again, these lending platform development stages will cost:

• Project Documentation: $7,600 – $10,800
• Infrastructure: $4,000 – $6,000
• Backend: $17,200 – $23, 600

So how much does it cost to develop an MVP of a P2P lending platform like LendingClub?

Totally, the lending platform development with the core features required for an MVP may cost from $40,000 to $56,000.

What is the structure of an app development team that can create a lending platform like LendingClub?

Optimally, the engineering staff that can help you to build a P2P product is led by the Project Manager. The responsible party for the product quality is the QA engineer. The rest is grouped under several development teams.

• RD and Doc Team:
  • Business Analyst
• DevOps Team:
  • Architect
  • DevOps
• Design Team:
  • Web Designer
• Node.js Team:
  • Node.js Lead
  • Node.js Developer
• React Team:
  • React Lead
  • React Developer

Certainly, every project involves different approaches while implementing very suitable features. This rough estimation provides an understanding of approximate lending platform development costs.

The Bottom Line

The SME lending niche has a lot of untapped potentials. While banks are unwilling to take risks and to assign loans to unsecured clients or clients with low credit ratings, alternative lenders are taking a different approach. With peer-to-peer lending offering higher flexibility, lower rates, and wider investment opportunities, the market for P2P lending apps for small and medium businesses is set for continuous growth.

Yet, building lending apps involves taking care of a lot of nuances and complexities. Ensuring seamless user verification, security, usability, and compliance is a challenge, especially if you are new to fintech software development. An experienced development partner, on the other hand, will guide you through all the stages of P2P software development and help you build a successful lending app.

Interested in lending software development? Contact us now to schedule a free consultation!

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Every day people spend a whooping figure of around 13 billion US dollars worldwide on online shopping. Generally, it creates a huge market of e-commerce sales estimated at roughly 5 trillion USD per year. And that figure only mounts up. Namely, fintech software makes this revolution happen. And that’s just the beginning!

A Story of a Fintech Startup Path From $0 to $36+ Billion in a Decade

Back in 2010, online shopping was already on the rise. However, the single hardest thing in setting up an online business was hidden under the payments integration. It was really difficult to accept fees on the web. The two Collison brothers started thinking about how to deal with the issue globally. They believed that it all could function a lot easier.

The initial idea was to focus on a technology solution for app developers who can merely integrate it into the e-commerce website or web app instantly. After that, the online retailer could simply accept and pay money. Within just two weeks the brothers have spent on creating an MVP, then performed their first transaction, and within a few years have built a fintech services ecosystem. That’s how Stripe was founded.

The developers’ community has appreciated the efforts in building a fintech product for them. There was almost no competition in the online payments niche. Paypal was the biggest competitor, however, it was more focused on building a product for consumers, rather than developers. Integrating payment API for business use cases into apps, websites, marketplaces at scale was the winning decision of the Collison brothers.

With a focus on developers, Stripe has substituted a lengthy enterprise sales cycle into a fast customer adoption. Amazon, Uber, Shopify, Postmates – all of these giants use Stripe to process payments. Actually, there’s a good chance you have already made a purchase via Stripe, even if you are not aware of it.

Success for the two young startup founders is far from a godsent. The secret souse is in a blend of vision, business acumen, and a little charisma. It all helped them to raise millions of dollars in seeds funding. Within just 4 years the Stripe’s valuation rises above billions. And after a decade, the fintech company is evaluated at US $36 billion.

So, How on Earth Did They Do It?

Let’s see their route to success step-by-step. And possibly replicate it…

Step 1. Solve a Real Problem

While every side of starting an online business became simpler, payments processing has been far from an easy task. That’s how the Stripe idea was born.

With a focus on developers, instant setup opportunities, and flexible scalability, it has won the hearts of even the biggest tech companies like Facebook, Microsoft, Google, and so on.

Step 2. Focus on User Experience

They have been obsessed with customer satisfaction. The fintech product should be easy to use – just copypaste several lines of code and go ahead to enjoy smooth payments processing.

The tech documentation was clear as day that allowed e-commerce brands to integrate payment systems within a couple of hours.

Step 3. Evolve Continuously

Even if you are a trailblazer and a leading fintech company, the competition never sleeps. So to keep the top positions on the market, you should always continue innovating.

Stripe strengthens its leadership by special price offers, a worldwide presence, and custom software solutions built for specific business areas.

These are three simple steps that helped Stripe grew into a huge fintech ecosystem with Forbes 50 enterprises among its clients. Amazing, isn’t it?

So why not replicate this kind of success in the fintech arena? Especially since the market continues to grow and is in such a burning demand for fintech apps able to revitalize the financial sector.

Read also: How Much Does It Cost To Create an App?

Check the popular apps cost & factors influencing the app cost: app type, tech stack, key features, development stages, dev team

Let’s see where the fintech software potential lies and how you can hit the gold mine!

FinTech Market Overview

Adoption and investment in the global fintech niche have literally exploded over the past years.

Actually, there are a lot of arguments to make in order to realize how beneficial it may be to use a fintech business model. When it comes to business, the numbers are always among the top priorities.

• The global fintech market is expected to grow at nearly 20% each year and its value should reach US $305 billion by 2025 (GlobeNewswire).
• 60% of credit unions and 49% of banks in the U.S. seriously value fintech partnerships (FinancesOnline).
• 25% of the fintech market holds digital payments processing (McKinsey).
• There are around 12,000 ongoing fintech startups worldwide.
• 46% of global fintech companies believe that artificial intelligence technology is worth investing in.
• 77% of financial institutions are going to keep focussing on operations modernization to increase customer retention (PWC).
• 46% of consumers prefer using only digital channels for personal banking (Singularity University).
• 93% of worldwide companies utilize at least one cloud-based service. (Spice Works)

All these data point to one major fact – technologies are already changing the financial sector and the speed of their adoption is only growing.

Let’s just think about the way modern society manages personal finances. Nowadays consumers increasingly turn to digital-only banks that form a sort of a threat to traditional banking institutions.

Let’s name a few of such fintech giants:

• Monzo: 251 – 500 employees, US $356 million total funding
• Starling Bank: 501 – 1,000 employees, US $354 million total funding
• Robinhood: 501 – 1,000 employees, US $1.2 billion total funding
• Coinbase: 251 – 500 employees, US $547.3 million total funding
• SoFi: 1,001 – 5,000 employees, US $2.5 billion total funding

Seems like the digital banking market is booming. It might be interesting for those looking to invest the capital into some serious and promising venture.

Key Fintech Software Types

Actually, there are many business models available in the fintech arena.

Mostly, they have affected the following fields:

• Banking
• Insurance
• Lending
• Personal finance
• Electronic payments
• Venture capital
• Wealth management

Let’s see what fintech software you can develop for these financial categories.

Online Banking Software

Digital banking allows consumers to perform transactions online fast and easily, manage accounts, view transaction history and do many other financial things.

Digital banking software utilizes such technologies as AI, chatbots, face and voice biometrics.

Benefits of online banking software:

• 24/7 operating period.
• Increased customers satisfaction due to fast transactions processing.
• Reduced time to market compared to a traditional banking institution.
• Extended customer audience due to bigger accessibility from mobile and desktop devices.
• Easier rebranding.

Key features of online banking software:

• Remittances provide cross-currency funds transfers.
• Chat allows to securely exchange documents and private information.
• Notifications provide users with real-time updates about their banking activities.
• Reports give all data about user spendings and income divided into groups by various factors.

Insurance CRM Software

Such insurance software gives insurers the necessary information about customers and the ability to perform the usual activities on insurance operations management. It includes creating reports, generating documents, and tracking work efficiency.

InsurTech companies use IoT, mobility software, data science, etc. All these technologies allow insurance agents to increase customer satisfaction through personalized offers, control risks, and raise revenue.

Benefits of insurance CRM software:

• Time and cost-efficiency due to operations automatization.
• Boost operational effectiveness when agents are focused on sales rather than paperwork.
• Tighter interactions with customers via digital marketing tools.

Key features of insurance CRM software:

• Task management automates staff management.
• Document generation fills the predefined information automatically.
• Commission tracking provides data about employees’ efficiency.

Loan Management Software

People no longer need to contact banks or credit unions when seeking a loan. Financial technology companies provide lending services in a much more flexible way.

Benefits of loan management software:

• Better performance due to no repeated data entry.
• Improved sales with detailed data about each client.
• Wider cross-selling opportunities.

Key features of loan management software:

• Risk management helps lending companies to evaluate clients before the deal.
• Collections and provisioning help to monitor the situation with delinquent accounts.

Payment Processing Software

Such financial software simplifies payment processing both for companies and individuals. It makes the experience of payment processing much more convenient.

Benefits of payment processing software:

• Boosted efficiency due to operations automation.
• Less staff is necessary for performing the same operations.
• More clients can be attracted due to better customer experience.

Key features of payment processing software:

• Account management gives personal accounts to users with the ability to control the payment flow.
• Instant payments reduce the need to repeatedly enter user’s payment data.
• Dispute management helps to conduct chargebacks if necessary.
• Fraud protection makes sure the user’s money is secured from suspicious actions.
• Analytics helps to control the payment processing activity.

Personal Finance Software

Such fintech solutions allow people to track their financial spendings and develop a personal savings plan.

Benefits of personal finance software:

• Wider customer base due to better user experience.
• Boosted efficiency due to automated operations.
• 24/7 functioning.
• Faster time to market compared to traditional personal bank accounts.

Key features of personal finance software:

• Automatic payments processing via online banking.
• Reminders point out the recurring transactions.
• Reports allow users to control spending.
• Currency conversion lets users exchange currency and make international payments.

Financial Risk Management Software

The regulation and compliance management industry combined with technologies proposes the emergence of the RegTech definition.

Among RegTech software solutions, you can notice financial risk management software. It is responsible for risk-based capital budgeting. This RegTech software can detect and analyze potential risks beforehand. It helps to make the needed actions to minimize or reduce such risks.

Benefits of financial risk management software:

• Legal entities management around the world.
• Uninterrupted business proceedings.
• Platform availability at any place or moment.
• Minimized human error due to processes automation.

Key features of financial risk management software:

• Risk management gathers and analyzes data to minimize risks.
• Automated email notifications are sent upon the configured settings.
• Analytics helps to track professional metrics.
• A security system helps to protect data.
• Compliance task management allows controlling tasks flow.

Top 5 Most Used Technologies in Fintech Development

Looking for the right technology stack for your fintech project? You should consider choosing the one that can become its foundation, meet the project criteria and correspond to the project’s goal. Each programming language is the best choice for a particular purpose.

Among the most popular programming languages for fintech development, the following technologies lead the global fintech market:

• Java
• Python
• C++
• C#
• Ruby

Java is probably the most used programming language by financial institutions. However, fintech software needs definite features that Python can manage much better compared to Java or any other programming language.

Major Strategies for FinTech Data Protection

The financial sphere unlike any other requires enhanced data protection as the outcome may be reflected in the money loss. This is like a magnet for cybercriminals.

However, despite the growing number of cyberattacks globally, any company can perform actions to minimize cyber threats. A proactive rather than reactive approach to security eliminates the risks for both the financial company and its customers.

Fintech Security Challenges

The fintech industry holds so huge amounts of sensitive information like bank accounts, passwords, and personal data.
First, let’s consider the existing security challenges in the fintech industry.

• Data ownership

It is important to control the rights delegated to particular people.

• Compliance with security protocols

Fintech companies should strictly follow the regulations and norms of the country where they operate. Otherwise, it may lead to bad consequences.

• Management of third-party components

To provide extended opportunities for customers and not fail with security flows, financial institutions should strictly control each third-party API.

How to Protect Data in Fintech

No worries, any risk can be mitigated by the proper preparation. Let’s check the modern approaches to deal with the above-mentioned challenges.

• Encrypt sensitive data

Data encryption allows encoding data through complex mathematical algorithms. Only specific keys can decode this data.

• Create secure code and architecture

The quality of your application’s architecture and code can not be underestimated. Buggy or messy code is easy to hack. The best way to prevent such flows is to conduct code reviews. Additionally, you can make use of the technology consulting services from a chosen vendor.

• Secure authentication

Most cyber-attacks are conducted via lost or compromised authentication data. Secure and precise identification and authentication are vital for fintech software. There are many techniques developed to secure this data like two-step authentication or SMS verification, etc.

• Code obfuscation

Code obfuscation is an effective way to trick hackers and protect fintech software from cloning.

Top 5 FinTech Companies Revolutionizing The Industry

There are thousands of companies already implementing technologies in the financial sector.

Here is a list of top fintech companies transforming the fintech space.

Fastacash

This global payments platform operates in terms of always providing value. Users can easily transfer various items via secure links over any social media or messengers. They can send cash, airtime, coupons, pictures, etc.

What’s more important is that everything is conducted within a single platform. It is a brilliant example of how a simple idea can impact society.

Starling

This trendsetting online banking helps users to plan their finances. Simple charts and graphs make the process easy. It is created with a thought about its client.

It sometimes happens that when you lose a card, you need to freeze it. But once you find it, it is a big issue. This fintech solution allows you to turn on and off the card when you need it with a simple touch.

The fintech software provider doesn’t have physical branches, however, it is easily accessible through a global bank.

Square

The fintech startup pushes Point of Sale (POS) systems much further than they are now. It provides free POS software and inexpensive hardware. It is reflected in tiny white squares connected to tablets and mobile devices.

This way small businesses like farmers’ markets or any other tiny stores move to this fintech software. It brings more security to financial operations. Enabling more users to utilize their services, the company is already evaluated at the US $6 billion.

Affirm

Affirm is a fintech company that provides installment loans to consumers. They cooperate with such giant retailers as Walmart and e-commerce companies as Shopify. This fact hugely influences the wide customers base. Which in turn reflects in a big revenue of around US $600 million.

Circle

This fintech project acts as a peer-peer mobile payment platform. It is still a private company that has raised US $135 million of investments. At some point, the fintech company has created an Ethereum coin backed by the USD.

This fintech mobile platform allows exchanging currencies in real-time. It is a distinctive advantage of this company among the competitors.

The Key Ingredients For Success

There are many more top players in the fintech industry who were not afraid of conquering the challenges. Here are some things we can learn from them:

• Search for a market opportunity.
• Offer cost benefits for your consumers.
• Create convenience for users.
• Aim at future growth.

These are the benchmarks of top fintech software companies’ success. Now let’s move on to the trends that you can follow in order to be among the top fintech industry players yourself.

Top 5 FinTech Trends to Watch in 2021

Fintech developments undergo fast so those entrepreneurs, who wish to follow the innovations, will want to keep up. Here are the top trends that will change financial services in the upcoming year.

Wealth Management

Big technology companies like Amazon, Microsoft, and Google are already creating the digital infrastructure necessary for wealth management proceedings. Almost 75% of global top entrepreneurs claim they would use these services from the big giants.

Robo-Advisor Adoption

The financial advisory services with the artificial intelligence touch have become really popular. It is expected to grow even more – to the US $830 billion by 2024.

Regulation Technology

There are still too many operations performed manually. It is expected that regulation technology systems will be adopted in a much bigger volume. It is beneficial in both streamlining processes and saving costs.

Read also: How to Save Money on a Web Project for Businesses

Learn how to select the best tech stack for your web application

Co-Development And Joint Ventures

Fintech solutions continue replacing the outdated legacy systems on the market. Co-development and joint ventures are expected to appear in places filled with inefficiencies. Fintech software can reduce the sales costs in the back office of traditional financial institutions.

Non-Fintech Players

Even non-tech companies are looking for new ways to monetize their services and grow their customer base. Other fintech software companies continue expanding their services and enter other fintech niches like lending, etc.

Conclusions

The bottom line? Fintech is officially a major direction that will transform financial services for good. It is a serious player in the global economy that is rapidly growing and, for sure, here to stay.

Looking at the prospects fintech software can provide and the already functioning top fintech companies, there is a place for deep thought here. What can you learn from their strategies? The most obvious answer is to add a competitive value to your fintech product. That is exactly what made them succeeded in the first place.

However, you can find your own competitive edge – as the market is booming, there is always a certain spot for creativity.

Even if you are not representing the financial industry. As the latest trends state, there is room for everyone willing to monetize their businesses.

Just make a step into the world of fintech solutions with professional help in hand!

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