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A Mass Payout Platform

Financial Services
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4.9
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A Mass Payout Platform

About the client

Andersen was approached by a B2B company based in Great Britain. Its mission is to offer transparent payment and transaction management solutions. As such, it is focused on serving legal and professional service sectors via a simple-to-use platform for payouts.

Location:UK
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About the project

A multi-product platform for mass event-based payouts, which can be used by both businesses and individuals. With it, all payments are made securely in terms of not only technology but also reputation.

duration12 months
technologies
Node.js
React
AWS Cloud

Front-end:

TypeScript, Webpack, Jest framework, Cypress

Back-end:

Node.js, Serverless framework

Mobile:

React

DataBase:

PostgreSQL

Others:

AWS Cloud, Docker

Concept illustration

Business idea

The customer approached Andersen as a trusted and top-ranked provider of software development services. As such, we were entrusted with developing a mass payout platform that would enable quick and easy batch payments for clients across different sectors: global insurance payouts, financial services, global pension payments, and legal-related payments.

The platform was expected to streamline operations by enabling multiple payouts for individuals and businesses in a single action.

The mass payouts enabled by the resulting solution include rebates, earnings, commissions, rewards, and incentives. The platform is used by the companies that need to disburse funds both locally and worldwide. Such companies can now benefit from speedy batch payments sent to multiple recipients, regardless of location or currency.

Project scope

  • Moving existing products to a new multi-product platform;
  • Developing a range of new products;
  • Automating compliance check journeys.
Concept illustration

Architecture

  • AWS Lambda functions and a serverless framework to scale specific capabilities and optimize costs;
  • Event-driven architecture with the usage of EventBus, based on SNS and SQS, to decouple multiple domains and microservices;
  • Data analytics with an Amazon S3 data lake and AWS Kinesis;
  • E2E testing with Cypress and Cucumber;
  • Performance testing with Artillery;
  • An API-first approach with both internal and external API gateways and the BFF pattern to decouple and separate various concerns.

Platform functionality

  • Onboarding and verification of counterparties (KYC, KYB, AML, etc.);
  • Fund management;
  • Reconciliation;
  • Handling of contingent payouts;
  • Support for payments made via virtual cards;
  • Mass disbursements (the throughput is over 500,000 transactions per 15 minutes);
  • Reporting and analytics;
  • Admin portal;
  • External user portal;
  • Monitoring app load time, responsiveness, crash rates, etc.;
  • Ensuring compatibility across different device types, screen sizes, and OSs.

Project results

  • Process automation that has resulted in significantly reduced time and effort required to handle use cases;
  • Successfully implemented MVP.

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We submit a comprehensive project proposal with estimates, timelines, CVs, etc.

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