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CarCapital: A Resilient Web Application for Car Loan Services
A car finance and insurance platform built with Vue.js and Node.js and integrated with 30+ lenders to offer personalized loan options
- Smart car loan matching technology to compare multiple car finance companies and find great rates from 1000+ finance products.
- API integration with a range of third-party services, including Equifax, AWS S3, Google Maps, SendGrid, Sumo Logic, etc.
- End-to-end security measures such as authentication with JWT token, private S3 bucket, and AWS access key ID.
- Customized fields with proper validations and integration of the agent user flow with existing user flow.
Project Details
The client reached out to Radixweb with a vision to create an online financial comparison services platform that allows users in Australia to choose suitable car loans from a panel of over 30 lenders and 1000 finance products.
The goal was to help buyers find the best car loan according to their financial situation and circumstances. The web app offers both secured and unsecured car loans, whether the user is looking for a new car loan, business car loan, or used car loan.
Since CarCapital is a B2C platform, the Radixweb team focused on incorporating critical security measures, creating an attractive user interface, and processing big volumes of third-party data with cutting-edge technologies.
Challenges Encountered
- The auto finance software industry is a complex domain. Lack of information and data deficiency were the major hurdles in this web app development project.
- Credit Proposal Disclosure Document file was sent to the customers calculated with wrong value for some applications.
- When users work on multiple tabs and perform the update operation in one of them, it will notify that particular tab without affecting the others.
- Generating custom quotes based on user requests as well as custom, validated fields as per the loan lending service providers.
Proposal Offered
The development team of Radixweb created a development strategy to build the web app by following the Agile software development methodology, using the latest version of Vue.js and taking advantage of all the modern features of the Node.js framework and MongoDB cross-platform document-oriented database program.
We decided to make the application architecture clean, robust, and scalable and integrate multiple performance optimization techniques designed with high-traffic scenarios in mind, such as caching databases, index optimizations, etc.
- Deploying a development team consisting of one Node.js developer, one Vue.js developer, and one Full Stack developer.
- Consultation team extensively interacting with the stakeholders of the company to gain valuable insights into the product, user, and market.
- A smooth, easy, and quick loan comparison and selection process (automatic/manual) even at increased traffic.
- Promotion of purchase behavior through loan offers with multilanguage support and cross-platform compatibility.
- Identifying further opportunities for the client and validating and delivering the project’s proposal.
- Testing end-to-end functionalities with 300 concurrent users for client approval and data migration based on the migration file.
Solutions Delivered
The web-based application is built to streamline the car loan lending and purchasing process by offering a unified, dynamic, and engaging digital environment with multilevel features and functionalities:
Backend and API Integration
- Backend development using Node.js (monolithic) and MongoDB
- Equifax library, SendGrid, Sumo Logic, Sentry, AWS S3, and Twilio
- Short.io for sending short URLs via SMS
- Integration of lender APIs for submitting the lead applications
- Redis for caching database
- Jest for test case development
- Google search address
- Redbook for getting vehicle information
- JSZip for downloading the ZIP files
App Customizations
- Implementing the search functionality with more collections
- Integrating test case development in the local environment
- Adding custom fields based on lenders
- Generating custom quotes for the application
- Database optimization with indexes
- Integrating the agent user flow with the existing user flow
- Validation on individual fields
Security, Performance, and Access
- Authentication with JWT token to restrict users from performing certain actions on a specific time boundary
- Private S3 bucket to disable users to view the file without authentication
- Attractive and easy-to-access user interface with visual effects and graphic elements
- Pre-signed URL including AWS Access Key ID and signature to access files and data
- Users can send requests for an OTP for a particular amount of time from specific IP
Data Migration and Additional Features
- Performing migration options based on migration files
- Database script to update huge amounts of data
- Custom fields based on lending service providers
- New user journey lead form
- Improved user authentication process and frequent retrieval of user information
- Admin can see online users and destroy unauthorized users at any time.
Client Benefits
Increased Efficiency
With CarCapital, the client can automate several manual processes, such as document management, affordability checking, etc., and reduce the time and effort required to process and manage car loans more quickly.
Better Risk Management
Using different tools to evaluate borrower creditworthiness and identify potential risks associated with loans, the client is able to make more informed decisions about lending and reduce the risk of fraud.
Enhanced Customer Experience
By providing borrowers with a user-friendly platform to apply for car loans, track their status, and make payments, the web app empowers our client to improve customer satisfaction and get positive reviews.
Final Outcome
CarCapital turns out to be a robust web app that has been supporting the client’s vision to empower borrowers to discover, map out, and leverage premium car finance solutions across the Australian continent.
Do you have a project in mind? As a leading financial software development company, we can help you build a product that’s designed for ease, trust, and security.
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