Who are we?
We are Floe, and our submission for Circuit 1 of the Formula One Rapyd Fintech Grand Prix is a fintech application utilizing Rapyd’s platforms to help users create smart savings plans for major purchases while offering cash back incentives. The application is based on two major features: Plan and Fulfill.
What is Plan?
The plan feature allows users to create smart savings plans for a vacation, car, house, or other major expenditure. At this stage, Floe takes into consideration a holistic view of your finances, including income, account balances, transactions, and habits to suggest a personalized strategy to reach your savings goals. With the guidance of Floe, users can be confident they are creating effective savings plans while staying within their means and not overspending. More information regarding the technical specifics of the Plan feature can be found below.
What is Fulfill?
After a user has completed a plan, and the appropriate time has passed to save up for that plan, they can utilize the Fulfill feature of the application. When a user Fulfills their plan, they can purchase the product or experience directly through Floe. When the purchase is made, Rapyd processes it by querying the API of the company you bought from and uses affiliate programs within the company’s platform to generate revenue from the purchase to pass on to the user as cash back. Users can earn between two and five percent cash back on each purchase they make utilizing Floe. Following the completion of a transaction, Floe will display where your purchase was made, email your receipts to you, and show you how much you saved. More information regarding the technical specifics of the Fulfill feature can be found below.
What makes it special?
Every step of the planning and fulfilling process takes place within the Floe application. The integration of Rapyd’s payment solutions, as well as affiliate APIs allows for a streamlined experience for each user, free of confusion or uncertainty. Additionally, Floe provides users with an easy to navigate application designed to assist in reaching their financial goals. More information regarding the front end design of the application can be found below.
How does it work?
Floe is the financial assistant for all.