Company Type: FinTech (Financial)
Location: Lagos, Nigeria
About: Kudy Financials is a FinTech (financial technology) company targeted at Africans millennials to help them achieve financial goals and financial freedom. Kudy Financials intends to achieve this by providing technology, products and services that aid the process of investment in foreign bonds.
Our task was to provide Kudy Financials with web and mobile platforms that allow their customers to enjoy a seamless and safe experience whenever they decide to make investments using Kudy’s services. Given our previous experience in providing similar platforms for FinTech companies the need they had to launch within a short timeframe, Kudy Financials reached out to the team at Alta Labs to create a cloud-powered digital product that met their needs.
It was necessary for Alta Labs to understand the vision Kudy Financials’ had for its web presence and to do that, we engaged with key players from Kudy Financials to help us understand exactly what they wanted and how we could bring it to life. The company already had a product design which they liked and wanted us to work with and as a result, we did not need to spend a lot of time on designing. Rather, we went straight into the development process of the product which was done entirely by our team.
After the development phase, we went to straight into the user testing phase which allowed us to assess how Kudy Financials’ clients would experience the platforms we had developed. Alta Labs learned two important lessons during this phase of the project. The first was this: simplicity is essential; this came up after we learned that about 40% of our potential users did not have digital backgrounds and also could not afford to find time to learn how to use new technologies. It became imperative for our final product to reflect both simplicity and authenticity—two bedrocks of Kudy Financials, otherwise, it would not be effective in increasing or even keeping the number of users the company already had. The fact that users would need to depend on the app for many things including communicating with agents, funding their accounts to take advantage of bond offers, etc. also meant that it was important for us to present a final product where they could do all the needed to as efficiently as possible.
The second important lesson we learned during the user testing phase was that flexibility is important to customers; what this meant for us was that our product also needed to be flexible to match the needs of Kudy Financials’ customers because current and potential customers alike reported that they were attracted to the company because of the flexibility of the investment plans, and the level of control over the risks involved.
After going through the testing phase, learning important lessons and adapting them to the product design, we proceeded to the implementation stage. We worked towards hosting the web app on the cloud while maintaining a solid codebase that which is will be vital in the future.
Our mission with the Kudy Financials’ project was to provide a platform that would allow users enjoy a seamless experience while making investments as well as one that encourages users to make more investments by seeing how elegant yet simple the web app is.
Our challenge was to create an online presence for Kudy Financials which was elegant yet easy to navigate and met the flexibility needs its customers. Even the relatively short timeframe of four weeks did not impede our team; we successfully developed and delivered a product that met the needs of the team at Kudy Financials and their customers. But, don’t just take our word for it, the Chief Technical Officer of Kudy Financials had this to say:
“Meeting and getting to work with Alta Labs was entirely serendipitous. The technical side of our company was in hibernation mode when we first began to collaborate and we only had a skeletal idea of the product we wanted. Celestine and his team took our working document and translated it into the online presence we have today. The services provided by Alta have ranged from fashioning out new features, wrangling with overnight algorithm adjustments to ongoing technical support. For the past few years, we have developed a cordial working relationship. It goes without saying that if you're in the market for a local professional development team, Alta Labs is highly recommended.”
- Manasseh Egedegbe