A new type of loan product in Finland
iOS / Android / Iovation / Software Architecture / UX/UI Design
Developing several mobile apps for a loan product does not boil down to just painting the interfaces different colours. Building apps for different countries, we are continually faced with new changes, regulations, and user behaviour patterns. To improve and simplify the development process, we have applied the module architecture. Functions that are isomorphic to each app (such as taking a loan, specifying its amount, sending notifications, or validating data fields) are isolated into a core module. Everything specific to the current country is placed into the «country module». Things like multiple data fields during registration (these can range from 5 to 20, depending on the regulations and available tools to validate them), user agreements, conditions for various loan products, payment amounts and methods are all developed as separate modules for each country or even each product.
Sometimes there are separate products under different brands for one client. In this case, a similar approach is used. The core functions can be easily reused and complemented with modules specific to the current country/product/brand, providing a significant boost in productivity and reliability.
This required an additional process to assemble all the modules into an app. We developed it from scratch to suit our needs.
This approach made it possible to develop the Android and iOS versions in just one-and-a-half months (in net developers’ time). The Android version was a bit faster because the bulk of our audience uses this platform. Given that we are in Finland, could this be a Nokia legacy?
The non-standard loan amount of EUR 2100 implies additional risks. We use Iovation fraud prevention solutions and are quite happy with it. The user can also create a short PIN number and use it for access to the app without any additional validation required, while the app remains totally secure.
Personal data is always a complex and sensitive matter. Therefore, we make sure to follow the basic precautions, which could have a huge impact if not followed:
- Never store any sensitive data on the device local storage;
- If you have to store data locally, use secure storage (Keychain, Android keystore, etc.);
- It is never a bad idea to use encryption by default and check for new security and standards updates.