How to improve customer experience (CX) using a dedicated financial app (3 case studies)

Financial app development can play a critical role in providing users with a positive digital experience.

Interested in developing a web app that is able to solve a specific problem? Want to boost employees’ efficiency and eliminate errors? Or do you want to keep different types of users on the same page?

Take a look at the following project stories – 3 financial web apps developed with CX in mind.

 

#1 Bridging different types of users and facilitating data exchange

A financial process usually involves different types of users. Also, it may involve different companies/organizations that have to communicate remotely on the same topic. And, by “communicate” I mean transferring data, providing information, and, basically, keeping users on the same page (figuratively).

That was also the case for our client: FGCR (a guarantee fund whose mission is to give support to SMEs) obtain financing – from banks or other financial institutions – by guaranteeing their loans).

When they first came to Roweb, they were aware that the “old-school” communication (using various tools – physical and digital, as well) no longer responds to their needs.

Beyond the obvious challenge related to disparate data sources that led to desynchronizations, errors, and delays that had to be solved, FGCR owners were interested in providing an improved customer experience (CX).

Reason?

Tuning client’s needs into a solution proposal

From the start, it was very clear for our dev team what the client’s main challenges were:

• disparate sources for data;
• lack of tools for data tracking and management;
• complex workflows;
• lack of unity and delays in communication.

So, our proposal was about bringing on the same page – literally and figuratively – 3 different types of users (banks – guarantee funds – clients).

Considering that the new platform aimed to simplify and optimize workflows for several users, we simultaneously followed two directions for designing the solution:

• developing a solid technical solution that allows data synchronization and automatic updates;
• ensuring an intuitive interface with which users can adapt quickly and allows them flexibility in editing, updating, etc.

How does the solution look like?

The delivered solution integrates features and functionalities able to help users get and manage all the info they need through only a few clicks:

• profiles registration and creation (for financial institutions);
• collecting data from financial institutions and banks;
• registration of warranty claims;
• registration of changes for existing requests;
• listing, filtering, exporting recorded data for each client;
• financial data analysis and validation;
• request for modification of invalid data;
• data standardization and synchronization (with the data stored by the existing app);
• generating and downloading contracts for signing and re-loading them to conclude financing;
• customize the upload settings that a file must fulfill;
• view request history: validation statuses, modified values;
• re / assigning the request to a manager.

Results provided by the financial app (from the CX perspective and beyond)

The web app we’ve built for FGCR provides an intuitive and complete customer experience.

Benefits for financial institutions’ users – fast data management and update (now, they can add, modify, upload, and delete data easily).

Benefits for FGCR’s users – they can access and manage updated data with only a few clicks.

Benefits for clients – they experience a fast and easy-to-track granting guarantee process.

SEE FGCR CASE STUDY

 

#2 The easiest way for paying and postponing taxes fast and secure

The most powerful financial apps are born from the customers’ specific needs.

If you want to develop a fin-app but you don’t know yet from where to start, look a little closer. Usually, the answer is just in front of you, in your customer’s contextual and specific expectations.

Need more clues?

Take a look at FileLater – a project born from Americans’ needs regarding the taxes payment deadlines for both personal and business incomes.

FileLater is an Authorized IRS e-file Provider and the first company on the Internet that offers taxpayers the ability to eFile federal personal tax extensions (form 4868) and business tax extensions (form 7004) with the IRS, also other state extensions.

The company is on the market since 2005 (over 15 years), and the tax postponements solution was developed to respond fast to a specific challenge that both citizens and companies were facing: safe and secure tax payments postponements.

Even if, at first glance, all the features and functionalities needed by taxpayers seem to be at the right place, the solution is continuously optimized.

Why did FileLater’s owners choose to keep optimizing this financial app?

Tuning client’s needs into a solution proposal

Considering that the financial consequences for not paying their taxes on time are tough, Americans were looking for a solution to postpone them in a fast, safe, and secure way (IRS offers the postponement option).

And, this is how FileLater web app idea had appeared.

The very first version of FileLater was developed in 2008. This project’s core objective was, from the beginning, to create a fast, safe, and secure digital tool so people without tax expertise can quickly extend their tax deadlines without involving a professional tax preparer.

We’ve succeeded in delivering fast exactly the solution that the client needed, which guarantees that we are a reliable soft development partner. So, since then (over 10 years), we offer them development, technical support, and permanent upgrades.

What does the solution integrate?

For punctually responding to American users needs, the web app FileLater integrates several features and functionalities:

• dynamic and intuitive data collection from disparate sources;
• real-time synchronization with IRS servers and fast submissions;
• extensions generators both in digital format (by submission to the IRS) and in pdf format (so requests to be also printed);
• complex dashboard that provides access to real-time stats and reports;
• marketing module integrated with SendGrid;
• deployment in Cloud for Microsoft Azure: the app is hosted and optimized in cloud on multiple servers;
• the app is designed to provide high scalability;
• key-features for performance in order to support a large number of concurrent users.

Results provided by the financial app (from the CX perspective and beyond)

This web app’s key focus is on providing a complete and intuitive customer experience for US taxpayers (individuals and companies). That’s why now the taxpayers:

• can postpone their payments by electronically completing forms 4868 and 7004 and sending them to the IRS using the electronic system;
• can apply for both online personal and business tax extensions;
• can finish their IRS online tax extension in minutes;
• get a confirmation email with the status of their tax extension;
• can make their tax payment using direct debit from their checking or savings account;
• have access to flexible online support (online chat, email support, etc.)

SEE FGCR CASE STUDY

 

#3 Faster and error-free financial transactions & tracking

• The performance of each and every employee stands in the tools he uses for getting things done.
• The profitability of a company depends on employees’ efficiency.

These two prerequisites define the importance of approaching internal users – employees – as customers and providing them with the right tools and the right time.

And these prerequisites were the foundation for developing Invoicer – a complex but intuitive financial system that simplifies and automates the invoice management process at multiple levels and all the financial activities related to it.

How can a financial app impact a company’s profitability?

Tuning internal users’ needs into a solution architecture

Invoicer is an internal project developed for our finance department (covering a wide range of financial and administrative activities).

We digitalize processes to deal better with change overall and to gain more efficiency.

The Financial System came as a need to address the complexity of tracking and managing payments, receipts, payment systems of salaries and bonuses, etc.

SEE INVOICER CASE STUDY

What does Invoicer integrate?

Our main focus for developing this invoice management software was on providing:

• flexible tools for data management and export;
• smart data displaying (listing, filtering, charts) for a faster and better overview;
• automated processes for eliminating redundant and time-consuming activities (e.g., transforming the proforms into invoices, exchange rate listing, and management, etc.)

Results provided by the financial app (from the CX perspective and beyond)

CX – internal users (employees): Easy and safe data management, fast access to financial documents, smart data displaying and filtering, etc.

CX – managers: Fast overview of companies’ and customers’ status and transactions’ evolution, plus easy access and transfer for the financial documents.