Real Estate P2P Lending Company

Backend Development and a React Native App for a Real Estate P2P Lending Company

LOCATION: UK

TYPE OF SERVICE: Dedicated Development Team

INDUSTRY: Fintech

KEY TECHNOLOGY: PHP, React Native

PROJECT TYPE: P2P Lending Platform

DURATION: 2020 – Present

3 Full Stack
Engineers

1Mobile App
Developer

1QA
Specialist

The Client

easyMoney is part of the “easy” family of brands in USA which includes easyJet, easyHotel etc. It is a peer-to-peer lending platform focusing on providing investors access to loans backed by UK property which they can hold in an Innovative Finance ISA (IFISA) or Regular investment account. Its driving principle aims to provide its customers with a better return on their investments through simple and honest products that offer more value for less money.

Established in 2018, easyMoney operates via a web-based platform that has recently expanded to support mobile users.

easyMoney’s Objectives

At the time, being a relatively new player in the P2P market, easyMoney sought to improve the functionality of its existing web-based platform, as well as expand its market reach with mobile users. To achieve these objectives, they sought to augment their existing team with several specialized developers. Their priorities consisted of:

01 Maintain existing functionality of easyMoney’s web-based platform, as a baseline requirement.
02 Create the backend for easyMoney’s new mobile application, serving as the main technical goal of the project.
03 Gradually port the functionality of the web-based platform to easyMoney’s new mobile app.

Solution and Outcome

easyMoney asked for our help in putting together a crack team of specialists in Laravel and PHP for server-side backend development and React Native for mobile frontend frameworks like Expo. We examined our entire talent pool to find the engineers with the right mix of skills and experience to deliver on their request within tight deadlines and provide a flexible, affordable team that covers all the bases.
With the guidance of their CTO, our initial team of engineers jumped onto the platform and quickly became acquainted with the existing codebase and backlog. After a brief onboarding period, they were able to rapidly get up to speed. Our team integrated their processes with light supervision from their team leader while using Jira to track progress.

Our collaboration successfully revamped their existing platform and led to the deployment of an entirely new React Native application to supplement the existing web portal. Details of our efforts include:

Stage 1

Beyond merely maintaining the existing functionality of easyMoney’s web-based service, we released several updates based on feedback from users and the product owner including

Development of client and admin utilities for transferring Individual Saving Accounts (ISA) to our system and from our system.
Added support for different currencies.
Improved the authorization system for users of different services along with support for multi-factor authorizations.
Added the ability for users and administrators to generate documents and reports.

Stage 2

Our team dramatically expanded their backend functionality for offering and processing investments.

Development of a separate portal for borrowers from scratch.
Expanded existing Know Your Customer (KYC) service to support a broader range of providers in compliance with KYC regulations.

Integrated React components into the web-based platform.

Stage 3

We created a React Native application from scratch along with an API for mobile users to utilize alongside the existing web platform to make investments, track interest, perform deposits and withdrawals, and other activities.

Сreated a mobile application for the wallet with a separate service API for it.
Integrated push notifications in the web-based system for the mobile application.

91% User Satisfaction!

According to Trustpilot, an independent business rating and review platform, easyMoney has received over 200 reviews. Of these, 75% of users have given them an overall Excellent rating, with another 16% rating them as Great. While this has much to do with the quality and performance of their investment services, their users frequently comment on how easy it is to use, with comments like:

Very friendly team. A welcoming website and easy to navigate.
Platform very clear, so easy to understand!
I’ve used various p2p lending platforms, and have now been with easyMoney for a year. The platform is easy to use, and the target returns have been achieved without fail. So far, so good!

About Vocabuv

Vocabuv is a boutique software development agency established in 2005. We differentiate ourselves by building strategic long-term partnerships with our clients and sourcing only the top 0.5% of USA’s tech talent. As a reliable partner for dozens of companies around the world, our focus is to exceed expectations across all stages of your application development lifecycle.

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