How F1npulsa Met Financial Regulations with Xolvex

Xolvex developed a comprehensive platform for F1npulsa that complied with government regulations through liveness checks and SIAC integration, optimizing online credit applications. Additionally, it facilitated collaboration with IBASTO, offering a solution that allows credit payments via QR codes, with automatic receipt generation for all involved parties. This solution improved internal process management, strengthened strategic alliances, and expanded F1npulsa’s reach in the market, establishing a solid foundation for future developments in the financial sector.

Business Opportunity for the Client

F1npulsa faced a significant challenge due to a new government regulation. This stipulated that all financial companies offering loans must have an online system to manage credit applications. This requirement drove the need to create a specific system for the “F1npulsa Nómina” process, which had to include:

— Liveness checks: Using facial scanning technology and personal ID validation to ensure the credit applicant is who they claim to be.

— Legal compliance: Integrating the SIAC system to maintain a detailed record of granted loans and accumulated debts for each client.

Furthermore, the project presented an additional challenge related to a strategic alliance with IBASTO, a company dedicated to distributing supplies for small stores. IBASTO wished to offer credit to these store owners, who often lack sufficient capital to pay for their full orders. However, credit management was not part of IBASTO’s expertise, which required collaboration with F1npulsa to:

— Develop a system that allowed store owners to make credit payments easily and reliably.

— Implement specific functionalities, such as QR code scanning, to facilitate transactions and generate receipts.

Why Xolvex Was Chosen

For over 10 years, Xolvex has been F1npulsa’s technological right hand, supporting its transition and digitalization process through projects ranging from website creation to advanced technical solutions, such as the design of its credit application software system.

This trusting relationship allowed Xolvex to take on significant challenges, such as integrating external services for liveness checks and regulatory compliance via SIAC, while using agile methodologies like SCRUM to structure development.

Their ability to fill the absence of a technical counterpart with key roles like Product Manager and Product Owner, along with their focus on redesigning interfaces and ensuring efficient processes, solidified Xolvex as a strategic ally that not only met F1npulsa’s current demands but also laid the groundwork for future developments in the financial sector.

Technological Challenge for Xolvex

The development of the solution for F1npulsa brought a series of technological challenges that demanded a strategic approach and innovative solutions from Xolvex.

— Integration of external services like FAD, used for liveness, face, and personal identification validations. This process required ensuring accuracy and efficiency in data validation while complying with government regulations.

— Data transfer to the SIAC system, which required establishing a fluid and secure connection that complied with applicable strict legal regulations.

— Lack of systematized processes at that time within Xolvex, which highlighted the need to adopt agile methodologies, such as SCRUM, to structure and optimize development processes.

— Lack of adequate technical documentation, which demanded considerable time and effort, but became a fundamental tool to ensure system sustainability and scalability.

— Absence of structured processes for refining ideas, initiatives, and features, which was resolved through flowcharts developed by the technical team and SCRUM ceremonies that facilitated planning and execution.

— Need to completely redesign the system interfaces, because the first version of the minimum viable product did not meet the desired usability standards, requiring a user-centered approach.

— Absence of a technical counterpart from F1npulsa, which forced Xolvex to fill this need by incorporating key roles like Product Manager and Product Owner.

— Strategic collaboration between IBASTO and F1npulsa, which added complexity to the project, requiring constant meetings between both parties to ensure that processes and business logic were fully synchronized.

— Implementation of specific functionalities, such as QR code payments and automatic receipt generation, consolidating an innovative and efficient solution.

These technological challenges were addressed with strategic vision and adaptability, allowing Xolvex to deliver a comprehensive platform that transformed online credit management, meeting the most demanding standards of the financial sector.

Solution

To address the challenges, Xolvex developed a comprehensive platform tailored to the specific needs of F1npulsa and its alliance with IBASTO. The solution included:

— “F1npulsa Nómina” Platform: Automated liveness checks (using advanced technology, users can validate their identity through facial and personal ID scanning, complying with SIAC requirements), Efficient credit management (the system allows users to apply for online loans, with a fast and secure process, facilitating compliance with government regulations).

— Solution for IBASTO: QR code payments (store owners scan a QR code and enter the amount to pay via credit, which is automatically debited from their assigned line. This generates transaction receipts, providing clear evidence for all involved parties - F1npulsa, IBASTO, and the customer), Simplicity and security (the interface was designed to be intuitive and ensure seamless transactions).

— Key Integrations: SIAC (for compliance with legal regulations), FAD (ensuring a fast and accessible credit application process for users).

With this solution, F1npulsa achieved: Rapid adaptation to new regulations; Strengthening its alliance with IBASTO, expanding its reach in the small store market; Optimizing its internal processes, improving the experience for its customers and business partners. The platform developed by Xolvex not only solved F1npulsa’s immediate challenges but also provided a solid structure for future projects and expansions in the financial market.