Client
- A Fintech Custom Web Application For Interest-Free EMI for School Fees
Services
- UI/ UX Design
- Custom Web Application
- Integration Services - eMandate, eSign & eNach Process
- DevOps Solutions
Industry
- Fintech Company
The Brief
The client initiated a project aimed at transforming financial accessibility and streamlining payment processes for parents and educational institutions. The objective was to tackle the challenges encountered by both parties in managing tuition fees and financial transactions efficiently.
The Challenge
The existing system posed challenges for parents, who struggled with lump-sum payments and financial stress, while education institutes faced difficulties in managing cash flow and administrative burdens associated with financial transactions.
- In this industry, operational procedures often rely on manual processes, presenting inefficiencies that hinder seamless transactions.
- The absence of online loan facilities further compounds the challenges faced by stakeholders in accessing financial support within this sector.
- There is a pressing need to streamline operations and introduce automation to enhance efficiency and effectiveness.
- Despite the growing demand for online financial services, the school fee payment sector lags in providing convenient digital solutions.
- Addressing these shortcomings presents an opportunity for innovation and the introduction of transformative technologies to modernize the industry.
The Solution
We employed the following technologies to develop the fintech web application
- Database: MySQL provides reliable, scalable database management for secure data storage and retrieval.
- API/ Communication Protocol: REST API enables seamless data exchange between the frontend and the backend.
- Frontend Framework: Next.js powers frontend with server-side rendering for optimized performance.
- Backend Framework: Laravel drives backend operations efficiently with robust MVC architecture.
User Authentication and Authorization
The Custom Web Application allows users (parents, education institutes) to register and log in securely with role-based access control to manage user permissions. Role-based access control is implemented to manage user permissions effectively.
Payment Management
The Custom Web Application allows Interest-Free Installment Payment Options, allowing parents to select installment plans for tuition fees without interest. The web application calculates installment amounts based on the total fee and chosen payment duration. Timely Payments are ensured through user-friendly payment plans, along with automated payment reminders and notifications.
Application Process
The Application Process is streamlined with a simplified and user-friendly interface for parents and education institutes. This includes online application submission and tracking capabilities.
Cash Flow Management
Cash Flow Management capabilities support education institutes by providing upfront cash-flow based on student enrollments. The application integrates with institute databases to monitor student enrollments and fee payments efficiently.
Integration with Third-party APIs
The Custom Web Application incorporates advanced features through API integrations to streamline documentation processes and enhance communication. SignDesk API is integrated to facilitate eMandate, eStamp, and eSign documentation processes, allowing for efficient electronic signatures. Additionally, the SignDesk JavaScript widget is utilized to seamlessly integrate eSign capabilities within the application. Furthermore, MSG91API integration enables the platform to send SMS notifications and reminders, ensuring effective and timely communication with users. These integrations contribute to improving overall functionality and user experience within the application.
The Results
The deployment of the Web Application produced several significant outcomes.
- Simplified the web application process for easy access by parents and education institutes.
- Enhanced cash flow management for education institutes by analyzing financial data pre and post-implementation of Accufinity's services.
- Reduced administrative burden through efficient management of financial transactions and payment processing.
- Ensured user-friendly online application forms were accessible across various devices, facilitating easy access for parents and education institutes.
What Our Clients Say
Solvios Technology not only created a new website, but a logo and its marketing campaigns, as well. They had well-established management that understood all of the client's needs, big or small. The team also commendably understood the client's industry.
Mayank C
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