Banksathi: A Successful Finance And Wealth App Development Case Study

BankSathi App - Introduction

A trusted partner for your financial needs.

A trusted partner for your financial needs. With the GenZ and Millennials now doubling down on investments, there has emerged a need for financial advisors to help them make the best financial decisions. To meet these growing user needs, Banksathi was formed

The multilingual finance app brings different financial experts - Loan Agents, Insurance Advisors, Ex Bankers, BFSI Professionals, and Wealth Advisors - together, to become financial advisors and earn in-app.

4 Million Customers.
Rs. 100 Cr+ Advisor Earning.
1+ Million App Downloads.
70+ Total Products.
1.5 Mn+ Advisor Networks.

On a theoretical level, the application was a game changer, its implementation, however, narrated another story. When the Banksathi founders came to us they were struggling with bad user reviews on the stores around interface, lack of features, and the overall experience.

BankSathi offers the following services -

Credit Cards
Bank Accounts
Personal Loans
Demat Accounts

Re-building Banksathi

Identifying Challenges to Address Banksathi Reconstruction

While our development team was working on that, our analysis team identified additional features that would make the application a go-to mode of earning income and re-establish its image. As a result, we extended the project deliverables to an upgraded time-sensitive notification system, a smart business analytics solution helping users be on track of their earnings, and lead count, and an admin panel for the Banksathi team to track users (where they are coming from - Social media or organic) and manage their movements.

Under the project scope, we have been working on:

Complete code revamp
An upgraded push notification mechanism
Smart business analytics for users to track their growth and app admin to manage Banksathi
An educational module where the users can enroll in courses around financial products
Added SSL pinning technique to prevent unethical data transmission

BankSathi App Main Features

We enrolled some must-have features for the success of the application. Check below -

1. Bank Account Integration.
2. Biometric Access
3. Multi-Factor Authentication
4. User Experience
5. Push Notifications
6. Recurring payments tracking
7. Make Profile
8. Verify bank details
9. Complete KYC
10. Look at financial products
11. Share the product link of your choice with prospective customers
12. Track the status of product purchases
13. Get earnings after a successful product purchase

Client Testimony

Jitendra Dhaka

CEO, Banksathi

Fintech

"On paper, Banksathi had everything it took to make a profitable application. However, on the execution front, there were multiple loopholes - glitches in apps, modules not working, slow payment disbursement process, etc. Now to make the application as useful as it was on paper in a real world scenario, we had to take every user journey apart and identify the areas of concerns on a technical end."