Revolutionizing Personal Financial Management Apps: ComFi

Challenges of Creating a Financial Management Application

The current landscape of personal finance management tools, despite being diverse, still falls short of providing an all-inclusive, user-friendly solution. Users often find themselves grappling with the manual categorization of expenses and ineffective tracking of their financial habits.

Realizing this, ComFi, a forward-thinking fintech startup, decided to redefine the financial management experience and build a financial management app that consolidates all financial accounts and automates transaction categorization.

To bring this innovation to the financial management asset systems network, they were in search of professional on-demand developers, able to fulfill the following requirements:

• Develop a modern frontend for the financial portfolio management app and link it with the backend of the app;
• Work together with the client’s backend team, help to manage the project duration, and provide the assessment of the tasks for sprints;
• Create a handy and intuitive UI for the platform that could be easy to use and help people quickly find the functionality they need;
• Help to aggregate data from any type of credit card, checking accounts, and other transactional operations into an all-in-one financial management solution;
• Automate transaction categorization with a powerful rules engine;
• Allow users to maintain a comprehensive record of all expenses and get real-time related visual reports;
• Enable the flawless and 100% secure work of the platform, paying special attention to a customer’s authentication procedure and high performance of the total financial management enterprise application.

In order to bring such an innovative total financial management enterprise application solution to life, ComFi needed a team of expert Fintech solutions developers skilled in an array of modern frontend technologies.

After some period of searching for a fitting team, they came upon our company profile in Slack and had a discussion related to developing an accounting system that will innovate the entire financial app market with our top frontend developers. The client was inspired by how much our engineers were passionate about the future product.

ComFi set up an interview with Fivelt specialists and ensured that we had deep proficiency in custom web applications development, as well as extended knowledge of business process management in the financial industry.

That’s how ComFi chose our company for this innovative finance management case study implementation, and our collaboration on a common project started in 2020.

How Fively Created Top-Tier Financial Managing App

In the course of this innovative case study of financial management app development, our team of frontend engineers worked together with the client’s in-house team of backend specialists. We successfully adjusted to the client's in-house approaches, becoming a core team component, and assisted in managing the project across all stages, ensuring that this strategic financial management case study will take all the best under our joint management. That’s what our project looked like.

Project Architecture: To create the most user-friendly and cutting-edge frontend for the app, we used the toolset described below.

• React library - to develop a user-friendly and intuitive frontend for the app;
• TypeScript - to build reliable and maintainable front-end code, offering static typing benefits;

• Material UI - for designing a visually appealing and responsive user interface;
• GraphQL - to manage data communication between the backend and frontend;
• Jest - for efficient and comprehensive testing of the code;
• AWS AppSync - to develop GraphQL APIs, enabling real-time updates and data synchronization across devices;
• AWS Lambda - to enable automatic scaling in response to incoming traffic.

Team Structure: We covered all the project goals with our dedicated team of specialists:

• 2 of our senior frontend developers proficient in React library and its tools;
• 1 project manager with a deep experience in case studies financial management;
• 1 DevOps specialist with a deep understanding of cyber security development peculiarities.

Communication tools: During the whole project duration, we maintained a constant communication flow with the client's team. We set daily group discussions in Zoom to estimate the scope of tasks and set deliverable deadlines, shared daily status updates Notion, and sent follow-up notes via e-mail. For quick discussions regarding potential project changes or initiatives, we used Slack.

The architectural, communication, and management decisions chosen during this financial management case study allowed us to bring a significant advancement in the financial management apps market with a brand-new web solution.

The app we built with ComFi’s team has the potential to take personal financial management apps to a completely new level of customer experience. In the future, ComFi’s team also plans to make this financial management app available for Android and iPhone platforms, as well as to enhance it with a suitable Chrome browser extension.

Personal Financial Management App Project Results

Working together with ComFi’s team, we created a real-time, modern, and secure single source of truth that can cover equally successfully your family's entire financial well-being and become a perfect small business financial management app.

• During the whole project, we successfully managed the frontend development for the app, provided the assessment of the tasks for sprints, and helped to link the modern frontend we built with the backend built by ComFi’s team.
• We created a handy and intuitive UI for the platform that is easy to use and aggregates data from any type of credit card, checking account, and other transactional operations into an all-in-one financial management solution. It greatly helps people quickly find the financial operations they need.
• Our specialists automated transaction categorization with a powerful rules engine, which allowed users to maintain a comprehensive record of all expenses and get real-time related visual reports for any needed period.
• Fively team enabled the flawless and 100% secure work of the platform, paying special attention to a customer’s authentication procedure and high performance of the total financial management enterprise application.

This innovative case in the financial management app market we finished only within 4 months became a game-changing solution in this field, which helped to improve the tracking of personal financial habits, eliminate fragmented or manual finances tracking, and customize the financial data management. The app was highly appreciated both by the client and by the platform users.