Blockchain, UI/UX Design, Website Development

Stack

A technology platform to transform bills into investments

Client

Confidential

Duration

4 months

Introduction

Stack is a financial technology platform that aims to transform everyday bills into investment opportunities. Through its innovative ‘Invest-As-You-Spend’ feature, Stack empowers users to align their spending with their financial goals, fostering wealth growth with every payment.

Challenges

Stack aims to transform routine bill payments into investment opportunities through its ‘Invest-As-You-Spend’ feature. However, several challenges stood in the way of achieving this innovative goal:

– Secure and compliant financial integrations: Integrating with diverse financial institutions for bill payments and investment platforms presented significant challenges related to data security, regulatory compliance (e.g., KYC/AML), and ensuring reliable transaction processing.

– Real-time micro-investment execution: The ‘Invest-As-You-Spend’ model required the platform to process potentially thousands of micro-transactions (investments) in real-time, immediately following bill payments. This demanded a highly efficient and scalable backend infrastructure capable of handling high transaction volumes and low latency.

– Scalability for diverse financial products and user growth: As Stack aimed to be a comprehensive financial platform, it needed an architecture that could easily scale to accommodate an increasing number of users, a broader range of bill types, and potentially diverse investment vehicles (e.g., different cryptocurrencies, traditional assets).

Solutions

To overcome these challenges, Hola Tech adhered to the best practices. Key components of the solution included:

– Robust and secure financial APIs and partnerships: We established secure integrations with payment gateways and regulated investment platforms, leveraging industry-standard APIs and robust encryption protocols to ensure data privacy and transaction security. Furthermore, we integrated Privy technology to enable users to securely sign transactions directly through the application, enhancing both security and user experience. Compliance measures, including KYC/AML verification, were integrated early in the user onboarding process.

– Event-driven, serverless architecture for real-time processing: An event-driven architecture built on AWS Lambda serverless functions was implemented to handle the high volume of micro-investment transactions. This allowed for real-time processing of investment instructions immediately after bill payments, ensuring efficient execution and scalability. NodeJS served as the backend runtime for these highly concurrent functions.

– Scalable database and cloud infrastructure: Mongo Atlas was chosen as a flexible and scalable NoSQL database to store diverse user data, transaction records, and investment portfolio details. This, combined with the overall scalability of AWS services, ensured the platform could seamlessly accommodate user growth and the introduction of new financial products.

Featured numbers

– Attracted over 2,000 waitlist sign-ups

– Received 500 positive testimonials/quotes from early waitlist members expressing excitement for the platform

Results

While Stack is currently in the waitlist phase, initial market reception has been exceptionally strong, validating the demand for its innovative approach to financial management. The technology platform has successfully attracted over 2,000 waitlist sign-ups, demonstrating significant interest in the ‘Invest-As-You-Spend’ model. Furthermore, the enthusiasm from early adopters is clear, with Stack having received 500 positive testimonials and quotes from waitlist members, all expressing excitement for the platform’s potential to transform their financial habits. These achievements underscore a compelling market need and a highly anticipated launch.