SavvyMoney is an online tool that provides users with a free access to their credit score, explains factors impacting it and gives suggestions how it can be improved. The aim of the company is to empower the control of financial health with easy understandable advice about credits and debts, help monitor the credit score according to the interest rates and provide users with more economic options.
Pleasanton CA, USA
Fintech, Credit Score
Fintech startup SavvyMoney decided to strengthen its presence in the market and get a new round of investment.
Main objectives to gain this aim were as follows:
At the start of the assignment Romexsoft provided Rescue Mission service and improved website performance from 80% up to 98% by using REST architecture. This gave an opportunity for the system to maintain more than 250k users without system crashes. At the moment application is running online 24/7.
The rapid traffic growth led to a need of adding resources on Amazon Web Services every time it happened and terminating such resources when the traffic falls in order to reduce costs. By adding an auto-scaling feature we created a cost-effective model reducing man-hours and 60k USD yearly of the total cost of Amazon Web Services resources.
Romexsoft team has helped SavvyMoney develop a new product such as SavvyMoney Credit Score which is designed to monitor financial health based on SSO solution for integration with financial business partner software systems. This solution allowed the transition into B2B model targeting on credit union users and creating co-branding pages.
We have enabled the system to suggest loans and credits for refinancing based on user financial data by developing Offer Engine application.
After implementing these improvements an amount of users has increased by 25 times and led to the closing of a Series D funding round.
Key features include: