Highlights

• Enabling the purchase and selling of mutual funds, fixed deposits, and digital gold by directly integrating with NBFCs, Mutual fund AMCs, BSE StAR, and other platforms directly
• Integration with NSDL’s eKYC services for seamless onboarding of investors.
• The UI/UX of the app was designed to be simple and user-friendly

Technologies Used

• Microservices architecture-based solution hosted on a serverless compute service (AWS Lambda Function) platform for auto-scaling and high availability to increase agility and optimize costs.
• Backend: - NodeJS
• Mobile Framework: - React Native
• Web Framework: - ReactJS & NextJS
• Database: - Amazon DynamoDB ‍

‍Overview

ZFunds is an investment platform that provides investment execution and advisory services to users. They have a team of certified and experienced experts who offer investment advice to users. These experts help users identify their investment goals and create a personalized investment plan that suits their needs.  

Client Challenge

ZFunds had a static desktop webpage, and all processes, from onboarding to transactions, happened offline. This led to issues and posed several challenges as they wanted to scale quickly. Despite having certified experts on their platform, they needed help growing their user base and meeting their business objectives.

• The biggest challenge was the limited user base. They found it challenging to reach potential customers without an app; they needed to catch up on the growing number of smartphone users who preferred to use mobile apps for their transactions.  
• Another significant challenge was the lack of automation. All transactions were conducted offline without an app, making it time-consuming. This led to delays and errors in the investment process, causing customer dissatisfaction.
• Lastly, the inability to provide real-time information was also a challenge. Customers could not access real-time market updates and insights as they had to rely on experts to provide the necessary information. This led to delays in decision-making and hindered the customer's ability to make informed investment decisions.

In conclusion, the lack of an app and automated processes prevented ZFunds from scaling quickly and meeting its business objectives.  

Solution

ZFunds partnered with Velocis to provide an end-to-end solution for their customers and experts. The solution included the following:

• Velocis created a mobile app & web portal for experts to manage their clients, making it easy for them to provide investment advice and handle a high volume of transactions.
• To ensure the seamless onboarding of investors, we integrated the app with NSDL eKYC and BSE StAR services.
• Furthermore, Velocis integrated the platform with various mutual fund AMCs to fetch real time information  
• The app also included features like purchasing and selling online mutual funds. Investors could set up SIPs making transactions seamless and hassle-free for customers.
• ZFunds can now directly communicate with their users via the WhatsApp Business API. This lets them send regular updates about their user’s portfolios and lets the experts easily talk to their clients.
• We integrated with RazorPay and BSE StAR MF, that made transactions seamless and hassle-free for customers, increasing customer satisfaction and repeat business.

The UI/UX of the app was designed to be simple and user-friendly, making it easy for customers to navigate and access the necessary information quickly. The app was developed using React Native for iOS and Android and ReactJS for desktop, ensuring a seamless experience across all devices.  

Business Outcomes

By making processes automatic, ZFunds was able to simplify its operations and provide a better user experience for both customers and experts. Their application is now available on iOS, Android, and Web, enabling them to scale quickly, expand their customer base, and meet their business objectives.  

Integrating with NSDL, NBFCs, Mutual fund AMCs, BSE StAR MF etc., gave customers real-time data and enabled them to make informed investment decisions. The comprehensive solution provided by Velocis enabling ZFunds to scale quickly and meet their business objectives.

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