CrowdInvest is a social crowd investing app for investment clubs. Thanks to it, users can collaborate, invest, and earn together.
Our client is a financial advisor and an investment strategist who created a community for beginners to help them with the fundamentals of financial and investment literacy.
In addition, our client is a writer of a book for everyone who wants to build financial confidence and take control of their money.
Product: mobile app
The scope of our work: back-end, mobile, QA
Solutions: building an MVP
The client wanted to create a social crowd investing application for collaborative investment. To start with, we suggested developing an MVP product. The goal was to first build mobile apps for IOS and Android.
The project encapsulates complex business logic.
To ensure that the solution complies with the project requirements, our team engaged a QA engineer to perform all needed tests for IOS and Android OS, including function testing, business cycle testing, configuration, installation testing, failover, and recovery testing.
At the client’s request, we had to find a solution for getting real-time market data and stock prices.
The Sloboda Studio team integrated Yahoo! Finance into the app for pulling live stock market data.
Before diving into the development process, Sloboda Studio conducted a discovery phase for the client to determine the project’s technical and non-technical requirements.
Based on discovery findings, we defined the project goals, the business model, monetization strategy, and target market.
Also, we set up achievable deadlines and milestones, as well as estimated the development budget. After that, we moved on to building an MVP.
The app combines features of a social network and an investment tool with instruments like portfolios and real-time data on stocks and funds.
Users are able to create public or private clubs and join the existing ones to share their thoughts on various investment opportunities and decide where to invest next.
In this respect, an investment club refers to a group of app users that connect around specific interests.
By using the app, club members can create their own clubs, invite other users to their club, send messages, block members, as well as learn from the portfolios of other participants and see their posts in the club discussions.
The market data section and chat functions make it suitable for beginners learning their way around trades and investments. Access to market data also helps measure and track performance.
All in all, the MVP allows users to:
Users can register and sign up via email and phone number, or by invitation link.
There are 3 types of app users:
In turn, all users are assigned to one of the following roles in the club:
Owner: The user who created a club, can’t be blocked or removed from the club.
Admin: Club members who have access to advanced functions such as blocking other club members, removing users from the club, etc.
Member: App user.
The app dashboard allows users to configure settings, view the My Clubs section, create a new club, search, and log out. The dashboard is also used to assign roles to other members and invite friends.
A set of FAQs, or the Help and Support section, serves as the entry point, displaying basic information on app usage.
Sloboda team integrated a messaging system SendGrid to automate and control the messages. Also, we created the chat function:
Users can communicate regardless of being members of one club.
Users can communicate and transfer files without limitation by format. Admins can block users from posting messages in the group chat.
We integrated Google Firebase and Sendbird to develop a chat with push notifications about the group, private messages, club announcements, and club discussions.
To simplify the investment process for users, we enabled integration with external APIs such as:
Sloboda Studio’s team has created the MVP of the social crowd investment mobile application with clear architecture and a number of features, including registration, invites, email and SMS notifications, and access to real-time market data.
June 2021 - now