On a fine Monsoon Morning in July 2018, Entire state of Kerala witnessed unusually heavy rainfall and it was the worst flood experienced by the state in nearly a century. Days passed by situation became worst and worst, some had to leave behind their houses, Personal belongings, all their material possessions to save their life and was spending days in relief camps. We even had our colleagues from Finastra (19 in 2018 and 5 in 2019) affected by the very same situation and was in extreme distress. This story repeated in 2019 too. That was the time when our friends really needed financial assistance to rebuild their life from nothing and for few others it was to compensate for their small losses. Studies shows that this climate-change-induced floods and its after effects are only likely to accentuate in the coming decade .This led to us to seriously think of an internal financial model of a credit union that can benefit our super audience our employees. On the other hand, immediate medical aid requirements for the employees and their family members. Above all, the existing troublesome and time-consuming banking procedures led our team to join hands to initiate this amazing ,simple and friendly application ‘FINTOUCH’

What it does

An initiative aiming to touch the lives of Finastra superstars i.e none other than the employees, financially when they are really in need, in the form of loans and deposits. (Add a dramatic sentence for this application)

We would like to highlight the two amazing features of this application i.e Loans and Deposits. User login within the application enables employees to apply and manage loan account and Savings Account. Any employee who join Finastra, once completed 6 months after their account is created in Fintouch is eligible for a loan. Savings can be started from the very same or next day he/she joins the credit union/organization. In the Road map , Savings is planned as an option within Workday that the employees can opt for, and these details will be pulled into Fintouch and to the payroll for auto deduction. Similar to Sodexho deduction, Savings amount can also be shown as a component in the Payslip. Low loan Interest Rates is yet another striking aspect/feature of our dear friend ‘Fintouch’

How we built it

The Fintouch portal will have a login page(Initial page) and their logins differentiate the user access and SuperAdmin (A credential that is created for the Admins only) access. New user can use the create account option to create their profile in Fintouch, leading to Account activation page and if required they can complete their profile and once changes are submitted, will end up in their Active profile (Only based on Eligibility) Apply loan-Submit-Success Page-Return to Home-My Profile-Savings and loans view if any. For an existing user, their login will lead them to their active profile where they can see the existing employee details along with loan and savings info. An ‘Apply Loan’ button also is present in the page, which will be enabled based on the eligibility of the employee that will be decided by the team who owns this application/software ( Current criteria is 6 months from joining Fintouch)-Submit Loan, A notification will be triggered along with a message that the loan has been submitted successfully. From their they can get back to home if they want to view their profile for the savings/loan details. Then comes the Super User/Admin module. The login page is same for both the user and SuperAdmin, it is the credentials that vary. Super Admin login opens up a Super Admin Page where he can view the employee details including their ID,Account,Loan and savings details including the respective loan and employee status. For pending loans, they can use the Approve/reject button to approve or reject loans and the same will send a notification to the employees. For savings account it would be a confirm/cancel button. API’s : Account Information(US) B2C // Account Info Page and Onboarding &Information B2B are the two API’s in the Road Map.

Challenges we ran into

Need to find more talent and catching words, top 3 or 4 sentences required to describe the project. Business Value : Core pillar, people, aiming for the benefits of employees

Accomplishments that we're proud of

“Immediate, Important financial need of an employee using minimal procedures in a very short span of time”

What we learned

What's next for FinTouch

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