Staff Augmentation Services For Fintech Software Scaling

Client

Our partner is a large-scale financial company located in one of the Central European states, providing financial services for individuals and legal entities for over 20 years. The number of its branches across the country has exceeded 50 which makes the institution one of the local industry leaders. The need for revamping the existing fintech software induced our client to initiate a software scaling project but in the course of development, it became clear that extra help and expertise was required.

Project scope

The initial client’s online fintech platform was developed by an in-house team of engineers. As the number of the bank’s partners grew, the capacity of the product required quality scaling. Looking for a credible staff augmentation company whose specialists would be properly versed in fintech software development, the client opted for Modsen and our proven track record of fintech solution building. We were requested to:

• Select a qualified team consisting of skilled front-end and back-end engineers.
• Improve the existing UI/UX and build a clear app logic with more complex functionality.
• Upgrade the app code and replace outdated payment systems.
• Adjust the platform to new business processes and operations.

Cooperation process

• Requirements clarification

  The process of fintech IT team augmentation at our company began with a thorough detalization of the project requirements. The clearer the scope of work is, the better and faster results our team can bring. The first step involved arranging an initial and 2 consecutive online meetups headed by Modsen CTO targeted at identifying the specific skills, experience, and expertise needed for the fintech app scaling project. We closely communicated with the client to define the project scope, objectives, and deliverables, ensuring a full understanding of their expectations.

  The process of fintech IT team augmentation at our company began with a thorough detalization of the project requirements. The clearer the scope of work is, the better and faster results our team can bring. The first step involved arranging an initial and 2 consecutive online meetups headed by Modsen CTO targeted at identifying the specific skills, experience, and expertise needed for the fintech app scaling project. We closely communicated with the client to define the project scope, objectives, and deliverables, ensuring a full understanding of their expectations.

• Selection of specialists

  After clarifying the requirements, we proceeded to select senior-level fintech software developers who would suit the project goals best. Our CTO and HR managers meticulously screened and evaluated potential candidates based on their technical skills, domain expertise, English language proficiency, and experience in fintech app development. As usual, we prioritized individuals with a proven track record in similar projects so that they could contribute effectively to the ongoing app scaling project.

  After clarifying the requirements, we proceeded to select senior-level fintech software developers who would suit the project goals best. Our CTO and HR managers meticulously screened and evaluated potential candidates based on their technical skills, domain expertise, English language proficiency, and experience in fintech app development. As usual, we prioritized individuals with a proven track record in similar projects so that they could contribute effectively to the ongoing app scaling project.

• In-house testing

  Once the specialists were pre-selected, we got down to conducting comprehensive in-house testing to assess their technical proficiency and ensure they would meet our partner’s requirements. This testing phase included the evaluation of coding skills, problem-solving abilities, and expertise in relevant technologies and frameworks that would be used within the project. Unlike in the majority of other resource augmentation companies in-house testing at Modsen is only a part of the whole system of training, upskilling, and assessing each of our team members goes through as soon as one joins Modsen team. The constant professional development continues its upward spiral in the form of in-house and external courses to make sure that when a request for top-tier engineers is received, they are in full readiness to contribute their skills and expertise to our partners’ projects.

  Once the specialists were pre-selected, we got down to conducting comprehensive in-house testing to assess their technical proficiency and ensure they would meet our partner’s requirements. This testing phase included the evaluation of coding skills, problem-solving abilities, and expertise in relevant technologies and frameworks that would be used within the project. Unlike in the majority of other resource augmentation companies in-house testing at Modsen is only a part of the whole system of training, upskilling, and assessing each of our team members goes through as soon as one joins Modsen team. The constant professional development continues its upward spiral in the form of in-house and external courses to make sure that when a request for top-tier engineers is received, they are in full readiness to contribute their skills and expertise to our partners’ projects.

• Onboarding

  Due to the extra serious approach to in-house training and testing, the onboarding of Modsen professionals onto the financial software development project took 1 week as the client didn’t feel the need to arrange additional tests and assessments. However, this option is always open if our partners are not pressed on time or wish to verify the level of specific tech skills our engineers possess. After successfully passing the in-house testing, the selected specialists were quickly integrated into the fintech app scaling project. During the onboarding process, they received detailed information about the project goals, timelines, and expectations, and were provided with the necessary access rights, tools, and resources required to delve into the work.

  Due to the extra serious approach to in-house training and testing, the onboarding of Modsen professionals onto the financial software development project took 1 week as the client didn’t feel the need to arrange additional tests and assessments. However, this option is always open if our partners are not pressed on time or wish to verify the level of specific tech skills our engineers possess. After successfully passing the in-house testing, the selected specialists were quickly integrated into the fintech app scaling project. During the onboarding process, they received detailed information about the project goals, timelines, and expectations, and were provided with the necessary access rights, tools, and resources required to delve into the work.

• Project execution

  • Collaborative approach

    

    Tapping into outstaffing fintech software development services business owners should understand that only by getting matched with a trusted and experienced staff augmentation provider, the success of a project can be guaranteed. The collaborative approach our team adheres to fosters effective communication and teamwork and ensures that everyone's perspectives are considered, leading to better problem-solving and decision-making. By working closely together with the in-house team, actively participating in daily, weekly, and retrospective calls, and keeping in constant touch via Slack,  our team effectively aligned their efforts with the project's goals, resulting in more efficient and streamlined outcomes.

  • Domain expertise

    

    Being sure that the industry-specific experience of the augmentation engineers is the key component that makes a tech specialist truly valued on a project, we selected only the most relevant fintech aces with 5+ years of custom financial software development track record. Having a deep understanding of the industry's specific challenges, regulations, and best practices, Modsen experts were able to provide valuable insights and recommendations, anticipate potential pitfalls, suggest innovative solutions, and ensure compliance with industry standards.

  • Flexibility

    

    Efficient team augmentation is all about the ability of outstaffing professionals to quickly adapt to changing project requirements, accommodate shifting priorities, and respond to unexpected challenges timely and effectively. At Modsen, we raise agile engineers who can seamlessly integrate into an external team, copy its coding and tech documentation writing style, adapt to a new time zone, and deliver unmatched software development results whatever the weather.

  • Scalability

    

    As the fintech project was drifting to an end, the client decided to scale down the augmentation team. The 2 remaining engineers had to ensure smooth software deployment and servicing during the first post-launch month. After 5 months, the client requested to slightly extend the team again as the new software features had to be incorporated. The scalability fintech in-house team strengthening services provide, ensures effective resource allocation and prompt alignment with changing project requirements and Modsen team is always ready to support those adjustments.

  • Versatility

    

    At Modsen we have gathered a poor of universal top-tier experts possessing diverse skill sets and able to handle various aspects of app development, such as front-end and back-end programming, UI/UX design, database management, and quality assurance. Such versatility allowed our partner to avoid the necessity to hire a large team of fintech augmentation specialists and integrate 4 full-stack engineers, having the potential and competencies of 8.

• Monitoring

  Throughout the project, we maintained a proactive approach to monitoring the progress and performance of the augmentation team. We closely tracked the hours and tasks done via our internal employee management system and kept a pulse on key performance indicators, such as task completion, quality of work, and adherence to project timelines through weekly meetups. Apart from efficiency tracking, Modsen managers also supervised the emotional and mental state of the project team members to be able to timely identify and address any potential issues and performance dropping.

  Throughout the project, we maintained a proactive approach to monitoring the progress and performance of the augmentation team. We closely tracked the hours and tasks done via our internal employee management system and kept a pulse on key performance indicators, such as task completion, quality of work, and adherence to project timelines through weekly meetups. Apart from efficiency tracking, Modsen managers also supervised the emotional and mental state of the project team members to be able to timely identify and address any potential issues and performance dropping.

• Reporting

  Modsen staff augmentation services take into account every minute detail that might affect the quality of the delivered project development assistance. Regular reporting is one of such facets which is why we ensure transparent communication on the team’s progress. Strengthening our partner’s fintech software development project expertise, our augmentation team provided weekly and monthly updates on the status of tasks, milestones achieved, and challenges encountered.

  Modsen staff augmentation services take into account every minute detail that might affect the quality of the delivered project development assistance. Regular reporting is one of such facets which is why we ensure transparent communication on the team’s progress. Strengthening our partner’s fintech software development project expertise, our augmentation team provided weekly and monthly updates on the status of tasks, milestones achieved, and challenges encountered.

  

Results and outcomes

During the lengthy and intensive cooperation period, Modsen team members contributed to the success of the custom fintech software development by:

• Dispatching a team of full-stack front- and back-end developers and painlessly integrating them into the project within 1 week.
• Fully controlling the team's performance by providing weekly progress reports.
• Revamping the existing fintech solution and expanding its functionality taking into account the new business logic.
• Optimizing the app development resource effectiveness due to the team’s vast experience in financial software development.

To date, we are still keeping in touch with the client by supporting the functionality of the product and helping their in-house team to introduce quality improvements upon request.