About the project
Personal finance can be a challenge in today's world, with traditional banking and lending systems burdened by complex paperwork, strict credit score requirements, and a lack of personalisation, especially for small loans and expense management. This inspired the creation of Fintrust, an innovative app designed to address these shortcomings in the financial landscape.
How can we make personal finance more accessible, trustworthy, and community-focused?
We observed that informal financial transactions among friends and family often lacked structure, leading to misunderstandings and mistrust.
Additionally, the stigma around borrowing from close contacts and the absence of a system to recognise and reward responsible financial behavior posed significant challenges.
What is Fintrust ?
Fintrust is a finance management platform focused on creating trust between lenders and borrowers. Fintrust captures trust points for each on-time repayment and other trustworthy transactions to build a trust score metric. The higher your score, the more privileges you unlock on the platform.
A high trust score opens up access to a wider range of credit, investment, and lending options. For example, once you have a good trust score, you can anonymously request money from friends and family at lower interest rates than those offered by banks, all without the shame often associated with borrowing.
Request money from people in your contacts by offering a treat (Hypothetically). We have different treats which are basically denoted as food items
The borrower needs to get an OTP from you to close the deal as we didn't have the ability to use a payment gateway
When you return the money with a treat on the promised date, you earn a trust point.
The Team
Keerthan Nandigama
Lead Mobile App Dev Cars24 Global
Stains Johnson
Lead Mobile App Dev Cars24 India
Ciril Cyriac
Senior UI/UX Designer Cars24
Ship Fast, Fail Fast, Learn Fast
Weekend Build
Following ideation and MVP planning, our team decided to dedicate two weekends to an extensive hackathon aimed at developing and launching our first MVP. This hackathon was centered around two primary objectives:
Learning: My teammates, being developers, were keen on exploring Flutter and gaining insights into developing a product from scratch.
Quick Building: Given our tight schedules, we recognized the importance of allocating dedicated time, even in the early stages, to rapidly develop and deploy an MVP. Gathering all team members in one location significantly enhances product development efficiency.
Key learning from the project
Collaborative team work
Working closely with developers from the start can significantly speed up the MVP development and launch process.
Focus on the Core Problem
It's vital to concentrate on the main issue you're addressing, steering clear of distractions that might arise during the zero-to-one phase.
Sales and Marketing Distinction:
The realms of sales and marketing are fundamentally different from product design, each requiring its own unique strategies.
Tech-Savvy Design
For a designer, understanding technological aspects (like APIs, developer-friendly libraries, and basic coding) is crucial not just for effective collaboration but also for enhancing the delivery of design solutions.
UI Design for other flows
House Sharing Flow
Trust Scoring
