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CarCapital: A Resilient Web Application for Car Finance Services
A car finance and insurance platform developed using NextJS and Node.JS (Fastify), integrated with multiple lending partners to provide users with personalized finance options tailored to their needs.
- Smart car finance matching technology designed to help users compare and apply for car finances in a simplified and transparent manner.
- API integration with a range of third-party services, including AWS S3, google maps, sentry, Bitly API etc.
- End-to end security measures, such as authentication with a JWT token.
- Customized fields with proper validations and integration of the agent user flow with existing user flow.
Highlights
Client Location
Australia
Industry
Insurance Finance
Business Model
Time and Material
Project Methodology
Agile/Scrum
Project Details
The client approached Radixweb with the goal of developing an online car finance comparison platform, enabling users across Australia to explore a wide range of finance options, evaluate finance products from multiple lenders, and identify the most suitable car finance based on their personal needs and eligibility.
The aim was to empower buyers to discover the most suitable car finance aligned with their personal financial profile and individual situation. The platform supports both secured and unsecured finance options and caters to diverse needs—whether the user is purchasing a brand-new vehicle, exploring business financing, or choosing a pre-owned car—ensuring a smarter, easier, and more informed car finance journey.
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 at Radixweb crafted a development strategy to build the web app by following Agile delivery practices, utilizing the latest version of Next.js on the frontend, powered by Node.js with Fastify on the backend, and leveraging PostgreSQL as the primary relational database to deliver a robust, scalable, and modern solution.
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 Fastify developer, two Next.js developer, and one Full Stack developer working across Node.js and PostgreSQL.
- 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 with Fastify and PostgreSQL (Database)
- Equifax library, Mailgun (email service), Sentry (error tracking), AWS S3, and Twilio
- Bitly API for generating and sending short URLs via SMS
- Integration of lender APIs for submitting finance applications
- Redis for caching
- Jest for test case development
- Google Places API for address search
- CarFax for vehicle data and specifications
- JSZip for generating downloadable ZIP files
App Customizations
- Implementing the search functionality with more collections
- Integrating test case development in the local environment
- Adding the layouts for better user experience
- Database optimization with indexes
- Put Validation checks on individual operations
- Integrate lenders APIs for submitting the finance request
- Integrate third party services for financial eligibility
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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