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Development of a B2B Payment Platform with Bank Integration

syberry.com

Financial services

Information technology

Business services

Challenges in Securing Funding and Building a Robust Payment Platform

FinTech Solutions Inc., a B2B FinTech startup, faced difficulties in attracting investment and assembling a skilled development team to realize their vision of an all-in-one payment platform. They needed a functional proof-of-concept to gain investor confidence and establish credibility in the competitive FinTech market. Additionally, integrating with banking partners presented technical hurdles related to API complexities, data security, and transactional data synchronization.

About the Client

FinTech startup focused on providing streamlined payment solutions (invoicing and bill pay) for small businesses in the United States, aiming to disrupt traditional payment systems.

Project Goals

Develop a secure and scalable B2B payment platform.
Enable seamless integration with banking partners.
Provide core features for invoice generation, payment processing, and receipt tracking.
Achieve a minimum viable product (MVP) within 6-12 months.
Secure Series A funding based on platform functionality and user adoption.
Onboard 1000+ banks via Plaid integration.

Core Platform Functionality

Invoice Generation & Management
Payment Processing (Credit/Debit/ACH)
Receipt Tracking & Management
User Authentication & Authorization
Bank Account Integration (via Plaid and direct API connections)
Reporting & Analytics
Automated Payment Reminders
Subscription Management (optional future feature)

Technology Stack

React (Frontend)

Java Spring Boot (Backend)

Docker (Containerization)

Azure (Cloud Infrastructure)

Plaid (Banking Integration)

External System Integrations

Plaid (for bank account connectivity)
Banking APIs (for direct integration with selected banks)

Non-Functional Requirements

Scalability (handle increasing transaction volume and user base)
Security (data encryption, compliance with industry standards like PCI DSS)
Performance (fast transaction processing and responsive user interface)
Reliability (high availability and fault tolerance)
Maintainability (modular design for easy updates and maintenance)

Expected Business Impact

Successful completion of this project is expected to lead to significant business growth for FinTech Solutions Inc. This includes securing $9.7M in investments, onboarding 1000+ banks, acquiring 2000+ B2B users, and achieving a competitive advantage in the B2B payment processing market. The platform will streamline transaction efficiency, reduce operational costs for businesses, and provide a user-friendly experience.