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Loan and Transaction Management Application for a US Healthcare Investment Company

One of the top US healthcare investment companies collaborated with SmartexLab to revamp their existing loan and transaction management solution.

Vertical

  • Finance, Healthcare

DURATION

  • 2+ years

Engagement model

  • Time & Material

Tech Stack

  • .Net
  • Vue.js
  • SQL Server
  • MongoDB

Key features and highlights

Technical Highlights

  • The team implemented user authentication and authorization as well as role-based permissions to perform certain actions, such as loan and transaction validation. If a logged-in user’s rights are restricted, the system shows a message with a warning.
  • SmartexLab complemented the system with a UI that allowed users to see and manage all loans and transactions by their respective statuses, such as pending validation, validation in progress, rejected/accepted, etc.
  • Enabled notifications on any changes to loan and transaction statuses. If a user locks or changes the status of a loan/transaction, other users collaborating on it will be notified about the modifications in that particular record.

The Performance Challenge

The legacy monolithic system was failing to process data coming from the company’s extensive client database and thus couldn’t perform management and validation operations quickly and efficiently. SmartexLab’s team addressed this performance issue in the following ways:

  • Moved the product to a new microservice architecture, which minimized the upload for each server.
  • Arranged one-by-one processing of the validation steps for loans and transactions by creating a queue of requests coming from the client’s side.
  • Enabled the system to scale up quickly, introducing the ability to configure the entire solution via MongoDB records.

Business challenge

The client is one of the biggest healthcare investment companies in the US, providing loans to over 110,000 clients.

The company has been using its own custom application for processing and verifying loans and transactions. However, the solution became technologically obsolete and costly to maintain over time, which is why the client was looking to rebuild it.

Part of the revamping task was to migrate the application from the outdated Web Forms and .NET 4.5 to Vue.js and .NET 4.7. Yet, the company’s in-house teams lacked the essential expertise in JavaScript frameworks to develop a contemporary UI.

Delivered solution

To revamp the application, the SmartexLab team extended its basic functionality and developed a set of modules integrated with the customer’s internal services.

The core modules include:

  • Loan Management

The app users are able to search for particular loans, see a list of all available loans, change their status and send them for validation.

  • Loan Validation

Users can approve, reject or lock a loan for other users, as well as validate loan data according to certain criteria, such as loan-providing banks, loan types, and others.

  • Transaction Management

Users can search for a transaction, see a list of all transactions, update their status and send them for validation.

  • Transaction Validation

Users can check if each field in a transaction request is correct, and mark a transaction as accepted or rejected.

  • Integration with Internal Services

The team enabled API integration of the app with other internal services, so that users can send, receive and process data from these systems.

  • New Loan Request Processing

This new service processes new loan requests created by the app users through another internal application.

Project results

The team delivered and tested the core modules, which are in full operation now. The key project takeaways are the following:

  • The upgraded loan and transaction management system is fault-tolerant and easily scalable due to its new microservice architecture.
  • Users can now benefit from the new data validation mechanism reducing transaction errors, improved navigation, as well as the interoperability between the new app and other internal systems.
  • The team has implemented a request queue allowing the system users to work asynchronously without losing any data.

Currently, the enhancement of the customer’s loan and transaction management is still in progress and SmartexLab team continues adding more functionality to the app.

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