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The client is a UK-based leading financial institution with unparalleled service offering in foreign trade and exchange for businesses of various sizes and trade. The company lends a helping hand to customers in terms of accessing global currencies and international payment services to mitigate the unknown risks associated with foreign currency exchange programs. We need to develop an app that would address multiple business needs such as a modern payment platform for enhanced payment solutions, trading, and information sharing on the basis of decision-makers for accessing information in a smart and strategic way.
Some of the critical challenges that need to be addressed are:
- Build a reliable and trustworthy trading platform to effortlessly transmit information from source to destination to transmit data.
- Consistent support by providing 24*7 support in “Live Chat” and telephonic support with varied payment options.
- Enable users with the interconnected process of installation and communication.
- Build a secure and trustworthy way to manage clients’ financial transactions with a crisp purpose of trading-buying/selling currencies.
- Supports multilingual websites of more than 34 currencies for every user to perform transactions easily.
- Facilitate multiple users at increasing security levels.
- Supported by trading solutions with no minimum currency value or hidden charges.
- Provides faster and instant quotes for shopping at the best price.
Tools & Technology
- Visual force
- Microsoft Visual Studio and Salesforce
- Microsoft SQL Server
- Windows Server
Considering the need for multi-trading options, TatvaSoft developed an international trading platform to manage information about the changing dynamics of the market. Our solution has multiple new-edge features that make the "Online Forex Exchange Trading" solution with lucrative benefits.
- Manage usersProvide multi-user facility by offering access to set their user role, password, email, etc.
- Manage ProfileEffectively manage various profiles to edit user information, address details, Time zone and contact information.
- Add or amend Payee, Payment TemplateAdd information about the payee and create a detailed payment sheet from an excel format.
- Balance Information:This enables users to check the balance in the customer’s account as per their currency record.
- Account StatementEnables users to have a holistic view of the account by providing an account statement, an account summary for the selected time-frame and detailed account statements.
- Credit/Debit StatementAllow users to have a view on credit/debit history and statement for the selected time duration.
- Direct DebitFor specific users provide an option as an admin user to add beneficiary and the added beneficiary can directly debit currency.
- Identity VerificationTo authenticate users, uploading of documents such as Photo Id, Address Proof, Company Proof, etc. can be done.
- SettingsFor easy functioning, the administrators have full right to manage margins, trade limits, customer fees, and client risk. This will improve and offer a personalized user experience to customers.
- Buy/Sell Currency: Enable exchange to be bought or sold depending on the particular form of trade and type of payment. Customers can set the number of payments as per the total payment forms sorted as per customers.
- Market OrdersHelp the users to set the sum and limit rate for the purchase and selling. When the business limit rate equals the limit rate set by the consumer, the machine can conduct automated trading.
- Approve a Trade: Enable the pending trade to be accepted, collect the trade quote and position it as a live trade.
- Trade HistoryFacilitate the list of all available, unpaid, and resolved transactions to be accessed. Customers can use screen out a trade by making a payment and downloading the report in CSV and PDF format.
- Previous QuoteThis enables users to view the complete list of eliminated quotes from the list of quotes or live trade.
- Pending QuoteEnlist all the pending quotes for the users to identify and modify quotes to place it online
- Batch TradeUsers need to perform multiple trades which can be based on one payee or multiple currencies.
- FIX ProtocolImpermanent a fix rule to gather financial information, exchange protocol, and live trading of the banks.
- Payment GatewaysIntegrate support system for third party payment application and gateways with 3D security and implementation.
- Accept PaymentsIt has a 5-level implementation method for accepting payment securely through banks.
- Create PaymentEnables users to deliver payment to choose payee on the basis of charges and chosen payment type.
- Payment UploadTake a comprehensive look at all batch payments to upload new payment files.
- Approve a PaymentCalculate the pending payments for all approval and holistic payment details that can be extracted in an excel or CSV or PDF formats
- Batch paymentAllow users to modify the payments in batches for specific users only.
- PaymentsVariety of payment options available to fetch payment history view detailed information with summary details of all transactions in PDF and CSV format.
- ComplianceThe model has 6 layers of compliance to meet financial regulatory needs and guidelines.
- Payment CreditIt is supported by 4 bank payment types for making particular payments to payees.
- Account AccessLogin timings, weekend access, 2FA authentication, customer web access, accounts unlock can be managed by admin.
- StandardsThe procedure for monitoring any illegal act or hack needs to comply with high-security requirements.
- ConcurrencyTo eliminate any duplicate transfers or offers, the device monitors simultaneous transactions at a very low level.
- ReportsIn this system, there are more than 20+ reports on the framework. The primary ones are Account balance, loss of benefit, financial statement, sales accounts, consumer liability, etc.
- APIsWith more than 25+ third-party API implementations using primary attributes such as account info, financial statement, sales account details and liability of the customer.
- MasterTo make it more user-friendly, the scheme offers more than 15+ master setups. County, currency, types of payment, types of remittance, user position, counterparties, email models, etc.
- SettingsThe interface has more than 15+ highly configurable settings to monitor device behavior. Enabled trading/timings, static prices, IP connection, spot days, global fees/margins, etc. are included in this.
With the domain expertise and proficiency, TatvaSoft has developed a holistic solution for our UK-based client by providing them with a secure trading platform. The clients are informed about changing prices as per international payment standards. Our developed solution benefitted the clients business exponentially with multiple profitable aids such as
- Reduced cost of operations and less overhead needs.
- To withstand dynamic market shifts, a quick, easy and cost-effective solution.
- Strong versatility with more than 34 currencies and usability.
- For simple, regulated and safe international payment, a diverse range of payment transaction types.
- With comprehensive industry analyses that enable us to stay in communication with the business, unmatched market intelligence.
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