Project Overview
Founded in 2009, Eastern & Allied (EA) is a leading Australia-based provider of international money transfer, payment, and foreign currency exchange services. Aiming to create a robust money transfer platform, the company faced difficulties in system integration and industry compliance. With strong technical expertise and deep financial domain expertise, LARION was recruited to set up a team of 7 experts to help with the development. Over the course of more than 2 years, this collaboration led to significant advancements in operational efficiency, enhanced security compliance, ultimately contributing to EA’s ongoing business growth
Challenges
During the development process, the company encountered critical challenges, including:
- Complex industry standards: International transactions and currency exchange involves stringent regulations that can change frequently, including security standards, anti-money laundering (AML) laws, and “Know Your Customer” (KYC) policies
- Lack of internal expertise:
- Limited Integration Capabilities:
- Operational Disruption Risk:
Impressed by LARION’s 20 years of experience and numerous successful projects in the banking and fintech industries, EA selected LARION as their trusted technology partner to overcome their challenges
Project Implementation
Our development process of the international money transfer platform follows a staff augmentation delivery model, with a dedicated team of 7 highly skilled professionals working collaboratively over a span of 2+ years. The team includes:
- Front-end engineer
- Back-end engineer
- Mobile developer
- Data engineer
- QA engineers
- UI/UX designer
Using the Scrum methodology, we ensure iterative development with bi-weekly sprints, daily stand-ups, and weekly progress meetings for continuous alignment.
Our technology stack is built for performance and scalability, utilizing:
- Web application: JavaScript frameworks (React JS, Next.js, Vue.js)
- Mobile development: React Native
- Backend:Spring Boot, Express, and Python
- Databases: MongoDB, MySQL 6, and Firebase
- Deployment: Jenkins & ArgoCD
- Version control: GitLab & Bitbucket
- UI design: Tailwind & Bootstrap
- Collaboration tools: Skype, Google Chat, and Google Meet
- Project documentation: Confluence and Google Docs
Results
Built in just 6 months, the platform delivers powerful features for secure, fast, and seamless transactions:
User Registration and Verification
- Secure user registration process
- Verification of identity and address
- Compliance with KYC and AML regulations
Fund Deposit and Withdrawal
- Multiple deposit methods (cash, bank transfer, credit/debit card, etc.)
- Secure withdrawal options (bank transfer, cash pickup, mobile wallet, etc.)
- Real-time or near-real-time transaction processing
Money Transfer
- Sender and recipient information
- Transfer amount and currency selection
- Fee calculation and display
- Transaction initiation and tracking
Exchange Rate
- Real-time exchange rate display
- Competitive exchange rates
Transaction History
- Detailed transaction history for both senders and recipients
- Search and filter transactions
Security & Compliance
- Regular security audits and vulnerability assessments
- Data encryption and protection
- Compliance with data privacy laws (GDPR, CCPA)
