Banking

The Banking Sector is the backbone of not only the economy but every business, service, etc. Banks handle day-to-day money transactions for every customer and they have various arms, loans, investments, etc.

Rite has serviced an overseas bank to build a secure, customizable and quickly configurable trading desktop; which can be launched from anywhere across the globe using web browser. This system helped clients to fetch near real-time streaming quotes, portfolio calculations, ordering across various asset classes, etc. The viewer built, despite its complexities, is not only user-friendly but fetches accurate data.

Rite prides itself on providing clients with timely deliveries with the help of using technologies, apt for their requirements. Java SWING, XML messaging architecture, PHP object-oriented processors and connectors were used. Security concerns were handled by using the APPLET socket concept.

Hybrid App For Banking & Finance

Rite Technologies helped its client; a startup – providing an effective lending platform to users. The client being a start-up firm, wished to understand its brand reach. This would help the client to understand their market penetration and likewise help them in making strategies for tapping new customers and growing their business. Through this web portal, clients wished more and more people to get insights on the various financial products and services offered by them.

The client being a startup, the budget was a constraint and the entire solution needed to be very cost-effective.

Some of the salient features of solutions as delivered by Rite Technologies were:

Build a platform that supports Hybrid development, thus delivering solutions piece by piece. This not only ensured the solution was value for money but also, gave scope for delivering critical and most needed value-additions on a priority basis
Web pages made were simple and user-friendly, ensuring smooth fetching of data from the server
The application was built based on Iconic 1 technology using Angular framework for using the same code base for both Android as well as iOS platforms

The application displayed detailed loan data:

EMI calculator which helps calculate the EMI on the basis of the following:
Principal Amount (The actual loan taken amount)
Rate of Interest (The applicable rate of interest levied on the principal amount)
Tenure (The time duration in which the customer wishes to repay the loan amount)
EMI (The estimated monthly instalments calculated on the basis of the rate of Interest levied over the Principal Amount spread over the tenure. EMI is the sum of the rate of interest and the principal amount spread over the tenure. Mathematically it is calculated using the formula; EMI = P x r x (1+r) n/((1+r)n-1) where P is the Principal Amount, r is the rate of interest and n is the tenure)
This data can also be viewed in the app through diagrammatic representation using pie charts to give a better overview
Loan Transfer Calculator – This feature enables the customer to transfer their loans from other banks or institutions in a hassle-free and easy manner
Loan Portfolio Tracker – This loan portfolio is the amount of the loan due and the credit worthiness of the loan, which can be viewed using this feature
Register as an Affiliate – This feature helps people to join in as affiliates to work with the client and mutually help grow the business
Check your Free Credit Score – This feature helps in understanding the credit worthiness of the customer and thus can help the customer secure better interest rates based on the Credit Score.
It shows how
-A new loan Profile can also be created using this app
-Providing innovative solutions for taking unorganised loan markets to the next level
-Improve customer experience of entire loan borrowing, tracking and management