We worked in concert with MoneyLion’s in-house engineering and finance teams to develop a new mobile-first bank. Behind the scenes we built the software and databases that underpin this new DDA banking service along with API end-points to verify customer ID, create bank accounts, issue debit cards, and more. We also created datasets which could be used by MoneyLion’s analytics team to create custom dashboards.
From a customers standpoint, we created an easy-to-use account creation experience with straightforward ways for customers to view their statements, check current balances, and initiate transfers. We also built a robust event-handler and notification system for sending users push notifications of balance updates, etc.
As the DDA banking platform has grown, we’ve helped scale it by migrating from in-house datacenters to the cloud and leveraging a microservices architecture. This includes building fault-tolerant caching layers to handle hundreds of thousands of events per day.
MoneyLion’s banking product has been wildly successful. Over 5M customers use the software we created. After launching the new banking platform, they closed on $100M in funding at a near $1B valuation.