payabl.

Platform for managing Business Accounts

payabl. is a comprehensive ecosystem of payment products designed to turbocharge merchants with an efficient and secure payment processing solution that enhances their cash flow management, simplifies financial operations, and boosts their overall business performance.

Platform:

API, Admin panel, Web application

Industry:

FinTech

Team size:

11 people

Country:

Cyprus

Project Duration:

9 months

The year started & completed:

Nov 2022 – July 2023

We are developing a core banking application that empowers businesses through secure and reliable financial services all in one place.

Admin Portal

Onboarding / KYC

The core banking system's administrative panel allows for the review and management of onboarding applications, including the ability to request additional information and either approve or reject the application.

Transfers management

The administrative platform allows administrators and banking operations to monitor merchant transfers and resolve any related issues.

Monitoring & AML

Uncommon activity can be tracked and flagged for AML officers using custom-built monitoring and AML mechanisms.

General Ledger

The custom-built general ledger functionality enables the tracking of transaction balances and compliance.

User management

The administrative panel can be used to invite and deprecate users. It also provides role-based and action-based management of user rights.

Accounts

Accounts can be created, managed, and edited by merchants in both single and multiple currencies.

Transfers

The Core Banking platform facilitates a comprehensive suite of transfer actions, including retrieval, sending, and internal transfers between merchant accounts. Additionally, merchants can establish customized transfer approval levels, necessitating signatures from varying levels of authority.

Reports & Statements

The core banking platform offers a comprehensive system for generating and downloading reports and statements at both account and company levels.

Beneficiary management

The core banking platform allows an agile way of managing the beneficiariesThe beneficiaries can be managed in an agile way using the core banking platform.

Challenges

Time Constraints

As developing any fintech solution is a sophisticated and meticulous process, one of our challenges is time – our team has 7,5 months to deliver the MVP version.

Development of Key Panels

Overall, we undertake the development of two panels from scratch – an administrative and an сlient panel.

Modernizing the Codebase

Our developers are remastering the solution, transferring the functionality from the legacy PHP non-documented source code to the clean and robust Python to improve the scalability and performance of the application.

Third-Party Integrations

We also have to forge integrations with 3-rd parties to deliver a unique value proposition within a single system.

User-Friendly Interface

While the financial system is complex under the hood, it needs to be simple and easy to use on the surface. Thus, we must ensure the application interface has an intuitive and user-friendly design for smooth and effortless interaction.

Results of the project

With powerful and reliable tech at the core and a sleek and intuitive design for utmost usability, payabl's core banking solution is being developed to be an efficient tool in the highly demanding financial environment.

Being built with a design-first approach, the system can boast an intuitive and user-friendly interface that grants seamless and efficient interaction with the banking platform.

Due to its focus on efficient and secure payment processing solutions, payabl. provides businesses with the tools they need to navigate complex financial challenges and succeed in a competitive marketplace.

Tools & Technologies

Python

Kafka

Jenkins

SonarQube

Next.js

React

TypeScript