INSART for Our FinTech Start-up Client:

Minimum Viable Product Development


Co-Founder & CEO at Lending Fintech startup, London, UK:

“Their team is very efficient, every sprint that was planned, was completed on time – so it felt like fixed cost based contract although it wasn’t. They have really good resources – we had team of 6 (front-end developer, back-end developer, 2 QAs and Tech Architect and PM) – each and every one of them were skilled & senior. I personally had gone down to Kiev to meet Vasyl and the team and spent 2 days with them – Vasyl has formed very impressive management style where developer get to choose their own projects etc and very efficient I must say.”

The Challenge

INSART was asked to create a minimum viable product (MVP), which included the following challenges:

  • Providing business analysis to identify the required software functionality.
  • Creating a software development team that would be effective working remotely.
  • Developing the platform from scratch with sufficient initial functionality to launch the service to market.
The Solution

Providing Business Analysis

Business value: Business analysis enabled identification of a minimal list of features required to successfully launch the platform. This prevented the client from incurring extra expenses from implementing redundant functionality.

Details: Business analysis was provided by INSART’s business analyst (BA) in collaboration with the client’s designer.

Process: The BA established close communications with the client, and clarified the client’s goal, needs, and constraints. He succeeded in devising the list of the most important functions.

Result: A software requirements specification was created, wherein the following issues were described:

  • Scope of work;
  • Interface, functional, and performance requirements;
  • Technology stack;
  • Estimated timeline and costs.

Subsequent development was provided according to this document.

Creating a software development team

Business value: Creating a remote development team allows our clients to access IT experts from Ukraine that provide high-quality development at reasonable cost.

Details: Candidates for the team had to meet the following requirements:

  • Have considerable development expertise and be able to design and develop the system architecture from scratch:
    • JavaScript and VUE.js was a must for the front-end developers, while
    • Java, Spring, Hibernate, and a services-oriented approach was key for the back-end developers;
  • Be able to implement tasks to a high quality and on time;
  • Be able to follow the Agile approach, with a good balance between startup creativity and an enterprise-level approach toward architecture design.

Result: The development team created included:

  • Project manager mixed with BA role;
  • Java back-end developer;
  • Front-end developer;
  • QA engineer.

Development of the platform

Business value: The platform was intended to contain information about house builders that have limited access to finance, and enable individuals and companies to invest in asset-backed property development projects and earn monthly interest.

Detailed description: The platform needed to have the following modules:

  • Dashboard for investors, where they could sign up, select a project for investing, book tours of building sites to see the pace of construction, invest money, receive interest payments, edit their account settings, etc.
  • Administration dashboard, where the administrator could create building projects, edit information about them, and check real-time information about investing.

The platform required integration with third parties through the Identity check API and E-wallet API.

Process approach: The development process was based on the Scrum methodology, with two-week sprints, daily meetings, and demos at the end of each sprint. Tasks for each iteration were defined by the client.

Results: Four months into INSART’s work, 95% of the intended functionality has been developed, integration with external services has been established and the dashboard for investors is ready. The administration dashboard remains to be implemented.

The Architecture Overview

The platform has a microservices architecture. Communication between services is conducted via REST API.

There are three services:

  • REST service: responsible for all REST requests.
  • Notification service: responsible for all kinds of notifications.
  • Job executor service: responsible for all kinds of background jobs.

Each service interacts with one or several other services.

To develop the platform, the following technologies were used:

  • Vue.js framework for building UI.
  • Java programming language.
  • Spring framework for Java development.
  • PostgreSQL database.
  • Heroku PaaS to build and run the platform in the cloud. This was the client’s choice. Later, the client decided to move to AWS.
  • Amazon Web Services for on-demand cloud computing services.


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