Project overview
Loanzify, founded in 2003, is a secure cloud-based digital mortgage platform. To improve user experience, the company set out to create a mortgage calculator with real-time interest rates from multiple banks, facing challenges with security protocols, regulations, and data formats. With a team of 9 experts, LARION has successfully developed the feature using Python, Java, Objective-C, and ReactJS. In just four months, the collaboration enhanced user experience, decision-making, and broker integration, giving Loanzify a competitive edge.
Challenge: Complicated security protocols & regional banking regulations
To enhance customer experience, Loanzify set out to build a mortgage calculator powered by real-time interest rates from multiple banks. However, the development journey came with several critical issues:
- Security protocols: To access live banking data, Loanzify had to comply with the unique security standards of each financial institution, which required building secure, bank-compliant API integrations
- Regional regulations: Each bank operated under different local and international regulatory standards, making the integration process far more complex
- Inconsistent data formats: With every bank structuring their data differently, Loanzify needed a way to standardize incoming information to ensure accurate comparisons and user-friendly displays
Facing these technical and compliance challenges, Loanzify turned to LARION to speed up development.
Solution: Innovated mortgage calculations
To bring the mortgage calculator to life, LARION assembled a dedicated team of 9 specialists—including a project manager, business analyst, technical lead, developers, and a quality controller—under a fixed-price model. Using a robust tech stack of Python, Flask APIs, ReactJS, and Java, the team collaborated closely with multiple banks to establish secure API integrations.
For highest level of data protection, the team implemented advanced encryption techniques, ensuring seamless data flow while strictly adhering to each bank’s security protocols.
Regarding the data inconsistency, the team developed smart algorithms capable of transforming and standardizing diverse formats from each bank. This approach enabled the platform to perform accurate, reliable mortgage calculations, delivering a smooth and consistent user experience across the platform—regardless of the data source.
Result: Enhanced User Experience
Within just 4 months of collaboration, LARION successfully helped Loanzify implement a real-time mortgage calculator that significantly enhanced the user experience. The solution enabled users to easily link their bank accounts, explore multiple scenarios in seconds, compare loan packages and make well-informed financial decisions.
Additionally, the platform enabled seamless connections between customers and brokers, giving users the option to receive personalized payment advice tailored to their needs. These advanced capabilities not only improved Loanzify’s service offering, but also gave the company a competitive edge by attracting more tech-savvy users and setting them apart in the market.
