RFL

an online investment platform

Overview

RFL is a polish online investment platform, serving hundreds of investors with best customer experience and great rates of return. Our cooperation started in 2016 and is ongoing. We helped LookPożyczka Sp. z o.o. develop their platform, including the current web portal, iOS mobile app and backend mobile app for company employees. Social loans in Poland are gaining more and more popularity, but they are still associated with a certain amount of risk in terms of their repayment.

Provided Services

Project Management

Software Development

QA Services

Infrastructure Setup & Maintenance

The concept of the platform was born in response to the weaknesses of the social lending model and became an interesting alternative to both traditional investment and social lending one. In this case, the investor is the independent owner of the debt, which makes it easier to claim even outside the investment platform. LookPożyczka focused primarily on ensuring the safety of its users, timely repayment of loans and the maximum protection against fraud. Each client who signs a loan agreement is verified in the BIG and BIK databases. Moreover, it enables users to participate in the Return of Capital Program.

How does it work? The loan company puts its offer into the system and allows the user to get acquainted with it. They can check the degree of profitability, the duration of the loan, the amount of profit. If the offer interests them, they can "purchase" the selected loan. The RFL platform provides service of investor's loans if they decide to invest in a given debt.

The project also included the integration of the client's internal systems. LookPożyczka field employees can now manage their customer base, arrange appointments and report performed activities using the administrative mobile application.

But RFL is not just a tool. It is also an idea - the aim of the project was to create a platform that is interesting, engaging and illustrates the concept of investing.

Technologies Used

Python, Django

AngularJS

Ionic mobile app

Objective C, Java

Components

Web Portal

Native mobile apps (iOS & Android)

Hybrid mobile app for internal use
by employees

Approach

Research

Considering a product such as an investment platform, market research cannot be overestimated. After all, it's all about user finances. The first step we took was to better understand the needs of potential RFL customers. We needed to know their patterns, habits and attitude - their behavior. So we started with researching recipient groups on the largest investment forums in the country, which gave us a fairly accurate picture of their needs.

Development

It is much safer to first create a product that will have basic functionalities and check what will be the demand for it and how the recipients will react. Therefore, the first publication was the MVP, which took about 6 months to prepare.

Team

Good communication is one of the basic conditions for success. Our cooperation with the client was based on weekly meetings attended by representatives of LookPożyczka and the Brival team. On our part, the project was implemented by 4 developers, a graphic designer, architect, project manager and qa.We provided the client with technological support, which was obvious for such a project. However, we also participated in legal consultation required to find the best solutions for users. This allowed us to quickly make the necessary updates of the concept when national regulations for such forms of investment changed.

Graphic layout

The client's intention was to create a friendly investment platform that would not be associated with banks. It was supposed to be visually attractive both for investors and borrowers. Hence the portal's semi-humorous, semi-serious graphic layout.

Features

TCLT

There were already a few social-lending platforms on the web. And although RFL did not assume a social-lending model by definition, one of the functionalities that made the platform stand out was the ability to generate and send TCLT declarations (tax on civil law transactions) within the system. This is the answer to one of the important needs of users, which we learned at the research stage for the project.

Security

Considering the fact that the entire project is based on user financial operations, sometimes involving amounts considerable for the clients, security was a key element. It concerned both borrowers and investors. Not only was each client verified in the BIG and BIK databases, the protection of personal data was also a high priority, especially in connection with changes in the law (GDPR).

User panel

The client's account on the portal gave him full insight into all operations - tracking the investment status on his account, payment of installments, account balance, etc.In addition, the user receives notifications, e.g. that the loan installment has been paid. Administrators of investors' accounts also receive similar notifications - they are informed that an installment has been received or that the employee has met with the client.

User Ratings

Investment operations are always associated with a certain risk, and despite ensuring the highest security standards, it was also necessary to overcome the psychological barrier. The platform has been integrated with the Opineo system so that the opinions of users about their previous experience in using the platform confirmed that RFL treats safety as a priority.

Integrations

Payment gateway (DotPay)

We integrated a payment gateway, so that users can make payments in the way that is most convenient for them. The application supports regular credit card payments, as well as single fees for one-time services. Making payment is easy and intuitive.

Data synchronization

As one of the important features of the platform is tracking payments and investments status, we connected RFL with clients' internal loan management system for data synchronization.

SMS API

It is extremely important for investors to be up-to-date. To make this happen, we have implemented a solution by which they receive notifications from the system in the form of SMS messages using the SMS API gateway.

Bank Transactions

Operating the investment platform requires the automation of as many processes as possible to minimize the risk of error. Therefore, we have automated the handling of outgoing user transactions with banking processes.

Testimonial

"Their reliability, flexibility, and ability to adapt in sudden changes allowed us to maintain smooth operation”

From the very beginning, we had no doubts about the effectiveness of implementing technological solutions. However, we did not expect Brival to be able to provide such extensive and substantive support at the stage of agreeing the business model. We are aware of the fact that the final shape of the product was the result of our inter-team work. Their reliability, flexibility, and ability to adapt in sudden changes allowed us to maintain smooth operation

Łukasz Kociołek

CEO, Look Pożyczka sp. z o.o.

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RFL