FIDO2-Based Platforms to Unlock New Financial Opportunities

FIDO2-Based Platforms to Unlock New Financial Opportunities

Objective

Extend Client’s R&D team with DevOps experienced software engineers to build a platform for evaluating customer’s investment risks.

Challenge

Intetics’s Client, an American FinTech company Distilled Identity, specializes in building AI-driven software applications across payments, credit and fraud prevention, and aggregating analytics to help unlock financial services for their Customers.

The Client faced the challenge of developing the Minimum Viable Product to the outstanding business idea. The business goal was to attract investment in the second round of startup fundraising.  Intetics was tapped as a trusted software vendor, that aligns the Client’s business challenges with appropriate tech stack to win the competition on the market. The Client came to the Intetics by the reference of a famous e-learning solution provider.

Solution

From the very project start, Intetics got the full and clear picture of the Client’s business need and objectives. One of the primary company’s approach to the development was applying DevOps practices. To extend its R&D team the Client needed the experienced software engineers that shared DevOps values and could easily adapt to different technology practices.

To find the best solution to the Client’s challenge, the Team conducted researches covering different cutting-edge approaches to provide appropriate MVP creation (cloud tech, full stack development, data base management). Open-source solutions became the basis for building Minimum Viable Product.

During further Research and Development process, the Client came up with another innovative concept. Its core idea was providing user authentication as a third-party service to other companies. This service was based on the customer behavior in the mobile app including display coordinates, screen gestures, clicking templates etc. The main challenge for the Intetics team was creating MVPs to both Client’s innovative ideas.

The MVPs development required supporting a new poor documented FIDO2 protocol, an open password-less authentication standard, hosted by the FIDO Alliance.

Integrating FIDO2 helped to provide the following:

  • Eliminate risks of phishing, all forms of password theft and replay attacks;
  • Unlock cryptographic login credentials with simple built-in methods (fingerprint readers or other easy-to-use FIDO security keys);
  • Ensure privacy via unique FIDO cryptographic keys;
  • Provide scalability as it can be implemented through a simple JavaScript API call.

Our team successfully dived into this comprehensive document and integrated its standards into the developed solution. The mix of Scrum and Kanban was used for building development process.  Our specialists participated in demos for potential customers/investors as well as leaded development of different kinds of integrations for them.

Technology stack

  • Java
  • JS
  • Docker
  • AWS
  • Ansible
  • Terraform
  • Artifactory
  • PostgreSQL
  • Kafka
  • ElasticSearch.

Implementing cutting-edge authentication protocol, using the most appropriate tech stack, maintaining a continuous educational process and closely liaising with Distilled Identity helped deliver the Client’s solution to the market.

Results

In the result of our cooperation, the Client got 2 MVPs to efficiently assess investment risks and to provide user authentication as a service. Expanding DevOps practices during the project development helped to reduce the chance of product failure, improve flexibility and support of the created system, provide clear product vision within the team and improve its efficiency.

Created MVPs were financed by primary investments that fully covered one and a half year of Research and Development process for 15 team members. The developed solution got good feedback from the customers. Now the startup is raising another tour of investment to expand their innovative solution.

Case Study

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